Economy 11:51 09/02/2018 Armenia

EBRD renounces its liability in Amulsar mine project – civil initiative

European Bank for Reconstruction and Development (EBRD) is one of the major shareholders of Lydian International, which invested 5.8 million CAD as of 2009 and 10.5 million CAD as of 2016 to purchase shares of the company, as well as financed study and construction works at the mine, Armenian Environmental Front (AEF) civil initiative reported on its website.

The civil initiative noted experts and environmentalists affirm that the project in Amulsar contradicts international environmental and social performance standards and the engagement of the Bank in this project actually contradicts its own principles. EBRD has a complaint mechanism and a civil society engagement department through which citizens can complain and present their demands related to projects financed by the Bank.

Back in 2013 citizens of Armenia raised the issue of Amulsar project with EBRD. In 2014, a complaint was registered both with the complaint mechanisms of IFC (which was among shareholders of Lydian until mid 2017) and EBRD. IFC Compliance Ombudsman’s Office proceeded with the complaints and examined it for 3 years.

Meanwhile, in February 2015 EBRD refused to proceed with the complaints claiming that these complaints refer to risks of mine exploitation, while the Bank is only financing the study phase and preparation works of the mine and not the mine exploitation. Moreover, EBRD concluded from the complaints that since complainants opposed direct dialogue with the company for solving the project related problems, therefore the complaint assessors considered both complaints as unfit for review.

In response to the letters sent by AEF civil initiative, on 12 December 2017 EBRD informed that it no longer wants to have a dialogue with AEF since the latter had got involved in an “unprofessional advocacy practices in relation to the EBRD’s investment in Lydian International and disclosed information about Lydian International employees, including their photos, alongside offensive and threatening message”.

AEF added they can only assume that EBRD is trying to avoid responsibility this way. Therefore, on January 16, 2018 AEF civil initiative responded to the Bank stating that its correspondence is not a friendly chat with the Bank. Instead the civil initiative filed a complaint with EBRD, which is a shareholder and investor and therefore does share responsibility for the risks and flaws of Amulsar project. The letter called for a serious investigation and for the Bank not to get involved in an environmental crime. The civil initiative also reminded the Bank that it is not the only signatory of the letter and there were other organizations and experts waiting for its response. 



Source Panorama.am
Share |
Տեքստում սխալ կամ վրիպակ նկատելու դեպքում, ուղարկեք խմբագրին հաղորդագրություն` նշելով տվյալ սխալը, այնուհետև սեղմելով Ctrl-Enter:

Newsfeed

17:55
Serzh Sargsyan: Armenia to probably ratify CEPA by the end of April
Armenia is determined to continue developing relations with the European Union and implement the Comprehensive and Enhanced Partnership...
17:53
Turkish forces strike humanitarian aid convoy entering Afrin - local media reports
The Turkish Armed Forces fired several missiles towards a humanitarian convoy that was entering the Afrin region. local media reported....
17:17
RPA formally nominates Armen Sargsyan as Armenia's presidential candidate
The Ruling Republican Party (RPA) of Armenia has formally nominated Armen Sargsyan, the Ambassador of Armenia to the United Kingdom and the...
16:14
Aeroflot Open: Armenia's Tigran Petrosian celebrates third victory
Armenian GM Tigran L. Petrosian claimed the third victory in a row at the 16th Aeroflot Open chess festival underway in Moscow, Russian. In...
15:49
Prime Minister Karapetyan introduced on Digital Armenia Foundation’s activities
Armenian Prime Minister Karen Karapetyan on Friday visited the Digital Armenia Foundation office where he was introduced on the final version of...
15:02
Analyst: Iran’s 2018 state budget amounts to $350 billion
The Iranian parliament, known as the Majlis, approved the draft state budget proposed by President Hassan Rouhani for this fiscal year...
14:18
I have no doubts about the victory of Nagorno-Karabakh – Russian analyst
There is no complete historical justice, but there is an eternal scared struggle to restore that justice, Russian political analyst Modest...
13:13
Turkey reacts to Dutch parliament's recognition of Armenian Genocide
Turkey has reacted to the recognition of the Armenian Genocide by the Netherlands' parliament. The Turkish Foreign Ministry...
12:07
Tablet, smartphone production down in Armenia
Armenia’s tablet and smartphone production saw a decline last year, the statistics show.  Some 595 units of tables were produced...
11:08
Roads open in Armenia
No precipitation is observed on the roads of Armenia as of 9:30 a.m. February 23, Armenia’s Ministry of Transport, Communication and...
10:58
400 kilos of cocaine seized in Russian embassy in Argentina
Police have seized nearly 400 kilos of cocaine from the Russian embassy in Buenos Aires and arrested several members of a drug trafficking gang,...
10:42
Artsakh president congratulates on Fatherland Defender's Day
Artsakh Republic President Bako Sahakyan on Friday issued a congratulatory message on the occasion of Fatherland Defender's Day. The...
20:28
Five Armenian boxers through to Strandja 2018 quarter-finals
The Armenian boxers continue their performances at the  69th International Boxing Tournament Strandja 2018 taking place in Sofia, Bulgaria...
20:06
71 terrorists killed in Egypt’s anti-terror campaign
The Egyptian army killed a total of 71 terrorists in restive North Sinai province as part of Egypt’s “Sinai 2018”...
19:51
Speaker Babloyan stresses need to strengthen Armenian-Lebanese inter-parliamentary ties
President of Lebanon Michel Aoun, who is in Armenia on an official visit, on Thursday paid a visit to the Armenian National Assembly to meet...
19:26
Russia to ban milk and dairy products imports from Belarus
Russia will place temporary restrictions on imports of milk and some dairy products from Belarus from February 26, the Russian agricultural...
19:09
Lebanese president: Armenia-Lebanon ties achieve tangible progress in recent years
Armenian President Serzh Sargsyan and President of Lebanon Michel Aoun, who is in Armenia on an official visited, issued a jointed statement...
18:40
Marina Girgoryan proposes to issue int'l arrest warrants against Azeri perpetrators of Armenian pogroms
Marina Girgoryan, the project coordinator of “Ordinary Genocide” series, called for the Azerbaijani perpetrators responsible for...
17:27
Winners of “VivaStart” 2017 program announced
Ethical norms in business, as well as high quality service remain at the center of VivaCell-MTS attention. To ensure a civilized approach in...
17:21
Artsakh soldier honored with posthumous award
President Bako Sahakyan on Thursday signed a decree on posthumously awarding Artsakh Defense Army serviceman Grigor Yeghoyan with the "For...
17:09
OSCE conducts regular monitoring on Armenia-Azerbaijan border
The Office of the Personal Representative of the OSCE Chairperson-in-Office on Wednesday conducted a regular monitoring at the northeastern...
16:20
Artsakh soldier killed in Azerbaijani shooting
Artsakh Defense Army soldier Grigor K. Yeghoyan (born in 1998) was fatally wounded as a result of Azerbaijani fire when on duty at one of the...
15:55
Armenia welcomes Lebanon’s position on Artsakh conflict settlement – minister
Armenia highly appreciates the position of Lebanon on the Artsakh (Nagorno-Karabakh) conflict settlement, Foreign Minister Edward Nalbandian...
15:22
Turkey to develop unmanned tanks, Erdogan says
Turkey's president says the country will develop unmanned tanks to minimize risks to soldiers in combat. Recep Tayyip Erdogan announced...
14:58
The Artsakh people right to live freely on their historical land at the basis of Karabakh settlement - President Sargsyan
The right of the people of Nagorno Karabakh to live freely on their historical land should be at the basis of the conflict settlement, whatever...
14:26
France-Artsakh Friendship Circle congratulates Artsakh on its Revival Day
On February 20 thirty years ago, the Soviet of People's Deputies made a historic decision, based on the will of the people of Artsakh, which...
13:57
Sumgait and Baku pogroms still need proper assessment - Speaker of National Assembly
The crime organized and committed at the state level resulted in the deaths of scores of Armenians, many were wounded, tortured and displaced...
12:46
Limited accountability for the unnecessary and excessive use of force by police in Armenia, says Amnesty International
There have been limited accountability and no criminal investigation into allegations of abuse of power by police during largely peaceful...
12:14
2018 Aeroflot Open: Tigran Petrosyan claims second consecutive victory
Armenian chess player Tigran Petrosyan claimed the second consecutive victory at the 16th Aeroflot Open runs from 20-28 February 2018 in the...
11:36
Azerbaijan fails to respect the reached agreements - FM Nalbandian
"Azerbaijan backtracked from the agreements reached at the Vienna and St. Petersburg Summits refusing to implement them. This concerns...

Follow us and get updates!

Most popular articles

{"core.blocks.header.spell_message1":"Selected mistake: ","core.blocks.header.spell_message2":"Send a message about the mistake?"}