AIDWATCH submission letter to EFIC 2013

EFIC has demonstrated limited to no accountability for investments that have few environmental or social safeguards, and as such has demonstrated little evidence to have learned
from past mistakes by continuing a commitment to the risky financing of large scale resource extraction projects such as the PNG Liquefied Natural Gas (LNG) Project. Given the inadequacy of
environmental and human rights standards, and endemic problems with lack of transparency from both multi-national corporations combined with a lack of good governance in many countries receiving EFIC funding, it is essential for EFIC to engage more directly in ensuring that projects it funds meet international standards through adequate monitoring mechanisms.