Private Banks & Investors / Press Releases

Six large international banks are currently arranging a $1 billion bond for China Exim Bank, the world’s third largest export credit agency. China Exim Bank is financing several environmentally and socially destructive projects in countries with abysmal human rights records. International Rivers Network and Friends of the Earth/US warn that given China Exim Bank’s track record, the pending bond issue will undermine the environmental standards of private banks and result in environmental money laundering.

HSBC, one of the world’s largest banks, announced a new freshwater policy at their Annual General Meeting in London today. The policy prohibits lending for dams that do not comply with the recommendations of the World Commission on Dams.