• Skip to primary navigation
  • Skip to main content
  • Skip to footer

Bankwatch

  • About us
    • Our vision
    • Who we are
    • 30 years of Bankwatch
    • Donors & finances
    • Get involved
  • What we do
    • Campaign areas
      • Beyond fossil fuels
      • Rights, democracy and development
      • Finance and biodiversity
      • Funding the energy transformation
      • Cities for People
    • Institutions we monitor
      • European Bank for Reconstruction and Development
      • European Investment Bank
      • Asian Infrastructure Investment Bank
      • Asian Development Bank (ADB)
      • EU funds
    • Our projects
    • Success stories
  • Publications
  • News
    • Blog posts
    • Press releases
    • Stories
    • Podcast
    • Us in the media
    • Videos
  • Русский
Home > Blog entry > The EBRD in Mongolia: Economic diversity is something else

The EBRD in Mongolia: Economic diversity is something else

Investment data for Mongolia illustrates that without improving the European Bank for Reconstruction and Development’s plans for the mining sector, the bank may add to the dependence on raw materials exports in resource rich countries.

,   |  18 September 2012


EBRD-Mongolia-diversity.jpg


As far as we can tell, the European Bank for Reconstruction and Development has arguably not done too much to incorporate Bankwatch’s extensive and well founded (for example here) inputs on its new Mining Strategy. (Although, to be perfectly honest, we don’t know what the bank has incorporated yet, because – in line with a transparency policy that we disagree on – it refused to disclose their responses to NGO comments.)

Discuss live and online with Mongolian campaigner Sukhgerel Dugersuren

We will discuss the EBRD’s mining operations in the European Parliament and in a live online video discussion this Thursday.

See more details below

One of the risks inherent in the strategy’s current draft lies in the EBRD not contributing to economic diversification of resource rich countries, but rather to an exacerbation of their commodity export dependence (“resource curse”).

Mongolia, which has become the promised land for mining companies over the last years, is a case in point. Taking a look at the EBRD portfolio in Mongolia, the dominance of natural resources/mining becomes obvious both over the span of the bank’s operations in the country and in particular during the last two (calendar) years. (Additionally to these numbers, the EBRD is considering a loan to the gold and copper mine Oyu Tolgoi in the Mongolian South Gobi desert.)

Other problems with the draft include coal mining, protection of natural areas and more. So there is lots to discuss about the EBRD’s upcoming Mining Strategy, which is exactly what we intend to do on Thursday, September 20, in the European Parliament and later in a live-streamed video discussion. Join us!

Event details

The new EBRD Mining Strategy: in line with EU policy objectives?

Open debate
Thursday, September 20, 8.00-9.00 (CET)
at the Members’ Salon, European Parliament

Hosted by Reinhard Bütikofer, Vice-President of the Greens/EFA and Rapporteur on Raw Materials, European Parliament

Inputs by:

  • Kurt Bayer, Austrian Executive Director at the EBRD on the EBRD’s upcoming mining strategy
  • Sukhgerel Dugersuren from the Mongolian NGO OT Watch on the EBRD mining financing in Mongolia
  • Kuba Gogolewski, Energy Campaigner at CEE Bankwatch Network on the EBRD’s upcoming mining strategy
  • William Neale, Member of Cabinet, DG Environment, European Commission (TBC)


Online video discussion

Thursday, Sept. 20, 11.30-12.00 (CET)
Live on the Bankwatch website

with:

  • Sukhgerel Dugersuren from the Mongolian NGO OT Watch on the EBRD mining financing in Mongolia
  • Kuba Gogolewski, Energy Campaigner at CEE Bankwatch Network on the EBRD’s upcoming mining strategy

moderated by Bankwatch media coordinator David Hoffman

Following the panelists’ presentations there will be a short question and answer session.

Join the discussion by submitting your questions online

  • through our Facebook page (also possible in the right side menu);
  • via Twitter using the hashtag #EBRDmining (also possible in the right side menu);
  • in the comments section below the YouTube video, or
  • by leaving a comment at the end of the event’s page

The video will also be live-streamed on the Bankwatch YouTube channel.

Never miss an update

We expose the risks of international public finance and bring critical updates from the ground – straight to your inbox.





Institution: EBRD

Theme: Social & economic impacts | Other harmful projects | Mining

Location: Mongolia

Project: Mining boom in Mongolia

Tags: coal | gold | local impacts | minerals | mining | water

Footer

CEE Bankwatch Network gratefully acknowledges EU funding support.

The content of this website is the sole responsibility of CEE Bankwatch Network and can under no circumstances be regarded as reflecting the position of the European Union.

Unless otherwise noted, the content on this website is licensed under a Creative Commons BY-SA 4.0 License

Your personal data collected on the website is governed by the present Privacy Policy.

Get in touch with us

  • Bluesky
  • Email
  • Facebook
  • Instagram
  • LinkedIn
  • RSS
  • YouTube