The Board of Directors of both the European Bank for Reconstruction and Development (EBRD) and the World Bank Group (WBG) have approved funding for the Oyu Tolgoi (OT) copper/gold mine in Khanbogd, Mongolia last week, despite local and global resistance to the project.
This ProPublica and Foreign Policy article focuses on IFC investments, such as those in 5-star hotels, shopping malls and mines, and concludes that profit for the World Bank is at least as important as its stated mission of reducing global poverty
Ulaanbaatar, Mongolia, December 13, 2012 Just one week after its grim warning during the UN climate talks in Doha that the world is on a path towards a four degree-rise in global temperatures, the World Bank is set to approve financing for yet another coal plant. The plant will power a giant mining complex in …
A group of CSOs note several flaws with the Oyu Tolgoi Environmental and Social Impact Assessment and ask the company to respond to their concerns. On November 9, 2012, a network of international CSOs submitted a report to Oyu Tolgoi LLC (the Rio Tinto subsidiary that manages the mine) that outlines some of the main …
An IDB audit confirms that the Bank approved the loan to co-finance two dams in Pamama despite knowledge that the project fails to meet Bank safeguards. The Pando y Monte Lirio dams will divert 90 percent of the River’s water, together with 25 other similar dams in construction or planned for the Chiriquí Viejo River, will transform it into a series of isolated pools with obvious harm to the region’s biodiversity and people that depend on the river.
Group of Mongolian herder households files complaint with Meg Taylor, the Vice President of the IFC and MIGA’s accountability mechanism, the Compliance Advisor/Ombudsman (“CAO”), at the World Bank’s Annual Meetings in Tokyo.
The World Bank Board of Directors has announced plans to consider a copper and gold mining project in the Mongolian South Gobi desert even though the Bank itself acknowledges that there is not enough water in the region to support the life of the Project.
World Bank proposal to reform Investment Lending Operational Policies threaten to dilute key Safeguard enabling requirements and could severely reduce accountability at the Bank. Together with other recent developments, these reforms to investment lending suggest a systematic dilution of the Bank’s social, environmental, and transparency standards, most of which have been undertaken through non-transparent and non-participatory processes.
Following months of delay and pressure from civil society, OT LLC finally releases the long-awaited Environmental and Social Impact Assessment for the mine.
Tata Mundra under investigation — if social and environmental policy violations are confirmed, project could face serious repercussions