On 27 October, RTL Nieuws reported that the Steungroep Nicaragua considers the millions of euros that the Dutch development bank FMO is investing in Nicaragua irresponsible. When asked, FMO stated that 'it had to continue to support its entrepreneurs in difficult times'. Both ENDS believes that the choice to continue to invest in Nicaragua brings substantial risks, which FMO does not take sufficiently into account when deciding on financing. Previous FMO investments have caused harm to people and the environment and, in some cases, even led to violence – with, as its lowest point, the murder of Berta Cáceres in Honduras in 2016.
As negotiations were held by European policymakers today about a possible capital increase of the European Investment Bank (EIB), a press release was issued by Counter Balance: a coalition of Both ENDS and European NGO's that monitor the EIB. As long as it's not clearly evident where the loaned money goes and no conditions are set for advancing the support of sustainable projects, the EIB is not ready for such an expansion according to the involved organisations.
A race track for international motor bike events in Lombok continues to worry human rights experts around the world. Both ENDS and its partners are increasingly concerned about the project’s implications for ethical standards in global development financing going forward for it continues to hurt the most basic social and environmental safeguards.
The U.S. is not always in the front line when it comes to the protection of human rights and the environment in developing countries, but there are exceptions. The Netherlands has recently joined the ‘climate initiative’ of President Obama, which aims at ending the public funding of coal plants. But the U.S. is going even further than that: under the ‘Appropriations Bill’, U.S. directors at international financial institutions have to vote against projects that support large dams and industrial logging or mining projects in tropical forests. We are calling on Dutch Minister Ploumen to follow the U.S. example!
This week, Both ENDS, together with 16 other environmental and human rights organisations from around the world issued a press release in response to the draft version of the ‘Safeguard policies’ of the World Bank. These are social and environmental criteria that a project must meet before it can be eligible for World Bank funding. An earlier draft version, released in July 2014, was strongly criticized by academics, experts from the United Nations, several banks and civil society organisations, because according to them the bank’s rules are becoming much too weak.