News - Amulsar financing contradicts responsible policy: An open letter from NGOs to the EBRD.

Financing of Amulsar contravenes a responsible policy: NGOs' open letter to the EBRD. About a dozen Armenian non-governmental organizations have sent an open letter to the European Bank for Reconstruction and Development (EBRD), expressing their deep concern about the Amulsar mine project. The NGOs remind that the EBRD has adopted an environmental and social responsibility policy that requires the bank's investments not to harm people, nature, and communities. However the actual situation in Armenia contradicts these commitments: the financing of the Amulsar mine is being carried out through Ameriabank CJSC, one of whose shareholders is the EBRD. The NGOs argue that this makes the EBRD directly responsible for the environmental and social consequences of financing the mine. They emphasize that the project lacks an adequate environmental and social assessment, threatens biodiversity and the safety of communities, and contradicts court-documented violations against the Armenian government and the Bern Convention's requirements. The organizations call on the EBRD to: conduct an independent and public risk assessment including environmental, social, financial, and reputational impacts; ensure that its financial involvement in Armenian banks is not directed toward the operation of the Amulsar mine; and if Ameriabank continues participation in the project, terminate the partnership with that bank. The NGOs stress that developments around Amulsar threaten not only the environment and the well-being of communities but also seriously harm the EBRD's reputation as a responsible investor. Ahead of COP17, the NGOs also sent an open letter to the President of Armenia, the government, and the National Assembly expressing concern about Armenia's inconsistent environmental policy. The open letter was joined by: Transparency International Anti-Corruption Center; Green Armenia; EcoLur Information NGO; Center for Community Mobilization and Support; Armenian Forests environmental NGO; Armenian Environmental Front; Center for Human Rights Studies; Helsinki Civil Assembly Vanadzor Office; Asparez Journalists Club NGO; PINK human rights protection NGO; Rights Protection Without Borders NGO; Armenian Progressive Youth; Foundation for the Development and Protection of Rights. If you find a typo you can send it to us by selecting the typo and pressing CTRL+Enter.