Colombians protest IMF for dangerous loans


Specifically, loans that fund a mining coming threatening the water supply of millions.

From teleSUR English:

Protesters gathered Wednesday simultaneously in Washington D.C. and Bogota, Colombia outside the International Finance Corporation, the private lending arm of the World Bank against the shares it holds in Canadian mining company Eco Oro Minerals Corp.

The company’s sole asset is a mining concession in one of Colombia’s high altitude wetlands, known as the paramos, which provides fresh water for millions of Colombians, explained the organization Center for International Environmental Law in a statement. When Colombia’s highest court ruled that mining in the paramos was illegal, Eco Oro announced it would sue the country using investor-state dispute settlement.

Protesters demonstrated on the eve of Thursday’s shareholders’ vote, in which the company seeks funding for its investor-state arbitration against Colombia.

“By continuing to invest in Eco Oro, the IFC is funding a lawsuit that seeks to undermine Colombia’s sovereign right to protect water and regulate in the public interest,” said Carla Garcia Zendejas of the CIEL. “How can this possibly align with its mission to fight poverty?”

This is only the latest of many actions in opposition to the mine and IFC’s investment. Tens of thousands have taken to the streets in Colombia, and just last week, representatives from the Committee for the Defense of Water and the Santurban Paramo, AIDA, and CIEL handed a petition to the IFC signed by thousands of people calling for the IFC to divest.

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