(November 29, 1995) For 5O years government guarantees have allowed the World Bank and its sister development banks to amass the world’s riskiest loan portfolios. Three months ago, the weakest of these sisters, the African Development Bank, was downgraded. And now for the first time, the World Bank admits that many of its own loans can’t be paid back.
(August 21, 1995) The disaster in Guyana began in the early morning hours of Saturday August 19: at a Canadian-owned gold mine, a red, poisonous sludge erupted through a breach in an earthen dam which was holding back a waste pond.
(March 21, 1995) Last November, while leading his Team Canada mission in China, Prime Minister Jean Chretien shocked Canadians by announcing Canadian government support for the mammoth Three Gorges dam project on the Yangtze River, and his intention to use tax dollars to help finance this controversial project.
The world does not have too many people – it does have too many ill-conceived mega-projects that have created pockets of grief.The London Free Press.
“Fear by the North of environmental degradation provides the South the leverage that did not exist before.”