Rio meeting backs World Bank Latam mining aid
Date: 22-Apr-02
Country: BRAZIL
"But while the Rio meeting did not ask the Bank to withdraw from oil, gas and mining in Latin America, it raised many questions that would call for significant changes in the way it operates...," a World Bank review team stated at the close of a three-day meeting.
Emil Salim, a former Indonesian government minister, said that the World Bank had experienced considerable public pressure to withdraw oil, gas and mining funding due to concerns over sustainable development in these sectors.
"This had led to a recommendation from a US government commission in 2000 that the World Bank should withdraw from financing these sectors, which has resulted in the current review," he said.
Around 90 delegates discussed the importance of World Bank financing and environmental standards-setting in projects such as the Brazil-Bolivia gas pipeline, copper mining in Chile and small mines in Ecuador.
They also reviewed the state's role in mining in Bolivia and Peru, the Yananocha, Cajamarca and Antamina copper and zinc projects in Peru and the Bajo de la Alumbrera copper mine in Argentina.
The World Bank has provided some $610 million to 17 oil and gas projects and $900 million to 27 mining projects in Latin America since 1993.
Further World Bank mining review meetings are scheduled in Hungary, the Middle East and Africa before mid-2003.