Loans to Hunt Oil’s Peruvian fossil fuel project challenged
13 December 2007
A high level delegation of indigenous, civil society and Parliamentarian leaders from Peru are in Washington, DC to lobby against the expected vote on public loans for the Peru LNG natural gas liquification plant. The delegation argues that by approving the project, the Inter-American Development Bank (IDB) and the Ex-Im Bank and the International Finance Corporation (IFC), would breach their own social and environmental safeguards.
A high level delegation of indigenous, civil society and Parliamentarian leaders from Peru are in Washington, DC to lobby against the expected vote by the Inter-American Development Bank (IDB) and the Ex-Im Bank on US$1 billion in public loans for the Peru LNG natural gas project (Camisea II). The vote is expected on December 19. The project is expected to cost a total US$3.8 billion. The International Finance Corporation (IFC), which is also a potential funder, will announce its decision in mid-January.
The delegation pointed out a long list of unresolved violations of Bank safeguards and human rights violations in relation to the first phase of the project, Camisea I. The Peruvian delegation argues that the IDB, IFC and Ex-Im Bank would all be in breach of their own social and environmental safeguards by approving the Camisea II liquid natural gas project.
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