This page links to information concerning a number of projects on which we have worked, in solidarity with local communities. In some cases, the projects rely on World Bank funding. In others they involve Canadian companies that may be seeking, or have secured, financial support from Export Development Canada (EDC). Sometimes they involve both. Regardless of the source of funding, in all cases, communities have contacted us because they are concerned about the significant adverse environmental, social and human rights impacts of the projects.
Financial crisis a boon for ECAs
While hefty public bailouts of the financial and auto industries have stimulated debate on the role of governments in commercial markets, one form of government subsidy has flown beneath the proverbial radar: export credit. Confronted by an increasingly dire financial crisis, Western governments are using their export credit agencies (ECAs) to boost liquidity and rescue faltering industries. At an extraordinary World Trade Organization meeting last month, participating governments reported a 30% increase in ECA business over the previous 12 months. The WTO called for even greater reliance on public credit to lessen the burden on commercial banks. Shortly afterwards, the OECD announced an agreement with non-members, including Russia and Brazil, to provide markets with publicly-sourced export credit.
November 8, 2005
Executive Director for Canada
1818 H Street
12 July, 2000
Dear Ms. O’Leary,
I am writing to express our pleasure that the Board of Directors of the World Bank has cancelled its support for the Qinghai component of the Western China Poverty Reduction Project. This cancellation sends a much needed signal, following the approval of the Chad-Cameroon Oil and Pipeline project, that the Board will work to ensure that the World Bank accountability mechanisms are used to screen out projects that cannot meet even its own participatory, sustainable development standards.
WORLD BANK REPUTATION ON THE LINE OVER TIBET PROJECT
Activists look to Canada for leadership to uphold Bank policies and protect Tibetans
October 8, 1999
Hon. Pierre Pettigrew
Minister for International Trade
Department of Foreign Affairs and International Trade
125 Sussex Drive
By FAX: 996-8924
Eight pages including this page
Dear Minister Pettigrew,
This letter contains the formal response of the Working Group on the EDC to the Report on the Review of the Export Development Act, conducted by the firm Gowling, Strathy & Henderson.
The Working Group on the EDC is a coalition of Canadian non-governmental organizations concerned about the human and environmental impact of export financing agencies. The Working Group, which is a project of the Halifax Initiative, promotes adherence by export credit agencies, particularly the Export Development Corporation, to internationally accepted standards regarding human rights, environment and sustainable development.