amazon watch * friends of the earth *
bank information center * environmental
defense * amazon alliance * institute for
policy studies
washington-dc, september 10, 2003
Inter-American Development Bank Blasted
for Backing Risky Camisea Project in
Peru
Rainforests, Indigenous Lives and Marine
Reserves at Stake
Today, the Inter-American Development
(IDB) executive directors approved financing
for the controversial Camisea fossil fuel
project in the Peruvian Amazon. Camisea's
critics contend that support to the project
is paving the way for the indiscriminate
destruction of one of the world's most
pristine rainforests and threatens the
physical survival of isolated indigenous
populations.
"IDB member governments made a critical
mistake today," said Aaron Goldzimer of
Environmental Defense. "The project is out of
step with international standards and now the
IDB has demonstrated it is at the bottom of
the international financial community in its
environmental and social safeguards."
"The Bank shut the door on negotiations
that could have made a difference in whether
or not Camisea brings social and ecological
ruin to the Urubamba Valley over the life of
the project," Atossa Soltani of Amazon
Watch.
The U.S. government announced its decision
to abstain from a positive vote, yet without
a clear "no" vote from the US, other voting
members felt a sufficient consensus was in
place to approve the project.
"Camisea violates international
environmental standards and US law. The
companies still get US taxpayer funds and IDB
management and Executive Directors shall be
held accountable," said Jon Sohn of Friends
of the Earth.
The IDB delayed consideration of the
project twice in recent months due to
outstanding concerns. On August 28, these
concerns led the U.S. Export Import Bank to
reject $214 million in financing on the
grounds that Camisea did not meet the bank's
environmental standards. Two U.S. oil
companies, Hunt Oil and Halliburton, stand to
benefit from the IDB's decision. The IDB's
largest shareholder is the U.S. Government
with 30 percent of the vote.
"By scrutinizing Camisea, many influential
people have learned about the IDB's
non-existent standards. The IDB is very
vulnerable to what on-going monitoring of
this project will reveal," said Amy Gray of
the Bank Information Center.
"This shows the Bush administration failed
to demonstrate moral courage and send a clear
signal by voting no on this project," said
Nadia Martinez of the Institute for Policy
Studies.
Contacts:Jon Sohn, Friends of the Earth,
202-783-7400 ext. 231 or 202-412-2467
(cell)
Atossa Soltani, Amazon Watch, 310-456-9158
or 202-256-9795 (cell)
Aaron Goldzimer, Environmental Defense
202-387-3500 or 202-297-2507 (cell)
Amy Gray, Bank Information Center,
202-624-0624
Nadia Martinez, Institute for Policy
Studies, 202-277-3234
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