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NGO Rejoinder

19 Apr 2016

SOMO / Both Ends

SOMO/Both Ends rejoinder to Atradius and Dutch dredging companies regarding "Dredging in the Dark" report

SOMO and Both Ends sent the following statement, following responses by Atradius, Boskalis and Van Oord to the report "Dredging in the Dark".

Atradius DSB – operating on behalf of the Dutch Government – follows the principles of the OECD agreed Common Approaches for Officially Supported Export Credits and Environmental and Social Due Diligence, and applies these ‘Common Approaches’ in its own CSR policy for all transactions it provides an export credit insurance for. In accordance with this policy all high risk (Cat A) projects require a full Environmental and Social Impact Assessment (ESIA) to be made publicly available at least 30 days before the final decision making. While the expansion of the Suez canal project was classified as a Cat A project, in this case Atradius DSB issued an export credit insurance policy without such an ESIA being made available....