Asian Development Bank

ECA and IFI -funded projects

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.

Policy Brief: Implications of the “better aid bill” for the RDBs - July 2008

Introduction
On May 29, Bill C-293 or the “better aid bill”, received royal assent. This now legally requires Canadian official development assistance (ODA) to contribute to poverty reduction, take into account the perspectives of the poor, and be consistent with international human rights standards. The Canadian International Development Agency (CIDA) and Foreign Affairs Canada (FAC), among others, are in the process of developing plans on how to implement the Bill in practice. These comments are intended to help CIDA and FAC in their interpretation of the Bill for the various international financial institutions for which they are the lead agencies.

Marcopper Copper Mines

The Philippines
Placer Dome Inc. (Placer Dome was acquired by Barrick Gold Corp. in 2006)
EDC: US$1.36 million loan [1]
ADB:  US$40 million loan [2]
CPP: $351 million (Barrick) [3]
   
The Marcopper mines are environmental disasters.  Placer Dome’s partnership with repressive dictator Ferdinand Marcos enabled the company to mine within a protected area and to use Calancan Bay, the source of livelihood for 12 fishing villages, as a toxic dumping ground for 16 years.[4]  Both the Mogpog and Boac Rivers have been literally overrun with toxic waste.[5]  Two children died when they were buried in the Mogpog mine waste spill.[6]  Studies conducted by the United Nations, government agencies and academics show that communities, who continue to rely on these rivers and on Calancan Bay, are exposed to unsafe levels of environmental toxins.[7]  Placer Dome denies responsibility for these environmental disasters[8] and sold its stake in the project in 1997.  The Province of Marinduque is currently suing Placer Dome and Barrick in the US, seeking damages for the environmental harm caused by the Marcopper mines.[9]

Subscribe to RSS - Asian Development Bank