The Export Finance and Insurance Corporation (EFIC) is considering a multi-million dollar loan to the South African "Boikarabelo" coal project to extract 32 million tonnes a year of raw coal.
This on top of the Federal government considering "gifting" $1 billion of taxpayers money to the Queensland government to finance rail infrastructure for the Adani mine.
EFIC's capacity to assess environmental and social risks is questionable, given it has provided finance to some of the worst social and environmental catastrophes in the Asia-Pacific region, including the Ok Tedi mine , the Porgera mine, and the Bougainville Panguna mine. Can still feel the shame!
Time to take a stand!
"Act as if what you do makes a difference. It does.” - William James.
May the Force continue to seek transparency!