In 2012, Export Development Canada provided Eldorado Gold with between $25 and $50 million in financing despite credible concerns regarding the serious environmental and social impacts of its operations in Greece.
Oyu Tolgoi is an enormous copper and gold deposit in Mongolia. The project is jointly owned by Canadian company Turquoise Hill Resources and a state owned enterprise. According to the International Finance Corporation (IFC), estimated project cost is $12 billion. Project proponents seek financing from Export Development Canada, the IFC, the European Bank for Reconstruction and Development and the Multilateral Investment Guarantee Agency, among others. In this document, CSOs argue that the project does not comply with the IFC Performance Standards and provide a series of recommendations.
This month we examine 'odious investment' - Mongolia Undermined; (Mis)Investment in Agriculture; More than Bricks and Mortar; and the Canada Pension Plan Investment Board.
Statement by the Halifax Initiative, the Latin American Observatory of Environmental Conflicts and MiningWatch Canada concerning Barrick Gold's disasterous second quarter results and its 'star' project, Pascua Lama.
Energy poverty, climate change and the World Bank; Durban postmortem.
In this letter to Export Development Canada and the U.S. Export-Import Bank, Chilean and Argentine organizations express harsh criticisms regarding the public agencies' due diligence processes concerning Barrick Gold's application for support for Pascua Lama.
Transparency and the international economy; Cannes G20 postmortem; export credit agencies fail on human rights.