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Article

1 Jun 2015

Author:
SOMO, Both ENDS, Movimiento 10 de Abril, AIDA, Carbon Market Watch, Urgewald & CIEL

Independent report: Dutch and German development banks failed to comply with environmental and human rights standards in financing the Barro Blanco dam in Panama

…[A] report by an independent panel, found that FMO and DEG, the Dutch and German development banks, violated their own policies by failing to adequately assess the risks to indigenous rights and the environment before approving a US$50 million loan to GENISA, the developer of the Barro Blanco hydroelectric project in Panama. FMO and DEG’s response to the findings, while acknowledging some deficiencies in their assessment, does not commit to any measures…The banks claim that they are “facing limitations in their influence” over government processes to come to a satisfactory agreement with all stakeholders involved…

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