Inclusive Development International, an environmental campaign group, has raised concerns over AIIB’s efforts to boost private investment in Asia using third-party managers.
The Asian Infrastructure Investment Bank wants to mobilize private capital to meet infrastructure needs. But by harnessing the capital markets, the bank is entering dangerous territory – and putting people and the environment at risk.
All is not well with the Total SE-sponsored East African Crude Oil Pipeline as, one by one, European lenders are walking away from requests to finance the $3.5 billion project, leaving it in financing blues barely three weeks after its launch.
A mine tailings dam planned for a seismically unstable area of Sumatra’s rainforest would be at high risk of failure, experts warn. The dam’s collapse would be a disaster, they say, releasing a wall of slurry that would engulf and bury Indigenous villages and their inhabitants.
Plans by Total to exploit and export Ugandan oil through a 1,443 kilometre pipeline traversing east Africa to the Tanzanian coast are hanging in the balance as investors are under growing pressure to move away from fossil fuels.
In the face of plans to build a potentially lethal tailings dam near their homes, villagers in North Sumatra are holding the international bank to its sustainability commitments.
