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[PDF] The great enablers: International Financial Institutions pave the way for the export of oil and gas from the Caspian region

Author: Crude Accountability, Published on: 13 December 2012

Currently International Financial Institutions (IFIs) are directly or indirectly intensifying the extraction of and trade in Caspian Sea hydrocarbons in Kazakhstan and Turkmenistan through investments in service, transport and infrastructure projects that allow their delivery to world markets. The Great Enablers examines a trail of investments made by the EBRD, ADB, IDB and the World Bank over the past several years...The report reveals that seemingly uncontroversial IFI investments are in fact likely to harm the Caspian’s fragile ecosystem. New vessels, ports and railroads will increase the extraction and transportation rate of hydrocarbons through especially vulnerable protected areas. Taking into account recent project implementation experiences and the general state of civil liberties in the two countries, the report argues that these IFI-supported projects will also harm people affected by the extractive projects if their rights are not fully respected. The report’s four recommendations for IFIs call for...[i]ncorporating specialized human rights risks assessments at the project and institutional levels to guard against weak application of the rule of law...

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Related companies: AGIP (part of Eni) HeidelbergCement