Both ENDS
To Eric Wirsiy, director of CENDEP, the importance of forests is clear: not only do they function as a "free supermarket", providing foods and other things to local communities, but they are crucial to make landscapes resilient to climate change and other impacts.
In April 2021, the Dutch development bank FMO announced that it is no longer involved in the Barro Blanco project, a controversial dam in Panama. GENISA, the Panamanian company that built the dam, unexpectedly paid off the multi-million dollar loan early. The question is to what extent, now that the bank is no longer actively financing the project, FMO can still be held responsible for the damage and suffering that was caused when this was still the case.
At first glance, a dam in Uganda and a paper mill in Brazil don't seem to have much in common. Nevertheless, both projects are financed by the European Investment Bank (EIB) and both projects have a significant impact on the environment and the local population. The European Union is said to have great ambitions for the climate summit in Copenhagen, to be held in December.
2021 was a turbulent year for Dutch development bank FMO, to say the least. The bank has been under fire for many years for investments linked to human rights violations and suspected corruption. But in the past year, the Dutch press and media have reported on one new development after the other in ongoing cases involving FMO. Below we give a short summary of these cases and call on FMO to make the promised improvements in 2022.
