Letter submitted to JBIC and U.S.,Britain public organizations for withdrawal of Sakhalin II financing


March ,4th, 2008



It was made public that United States Export-Import Bank (US Ex-Im) and British Export Credits Guarantee Department (ECGD) that examined the financing to the Sakhalin II second stage construction with Japan Bank for International Cooperation (JBIC) since 2003, stopped the examination of the financing to this project on March 4 .

http://www.foejapan.org/aid/jbic02/sakhalin/press/20080304.html

The reason of their withdrawal is because the Sakhalin energy company who is the entrepreneur withdrew the financing application. Nevertherless, the underground reason is that, until today since the financing examination began, protection of the natural Omenvironment of Sakhalin II project and measures against the influence on the local society were insufficient and that the standard of "Environment policy" of both organizations were not able to be filled. For this reason, it has continued that the judgment of the financing is postponed.

Examining the financing to the Sakhalin II seconde stage construction now since two organizations pulled out became only JBIC of Japan. On the other hand, the construction work is completed by 90 percent as of February, 2008. The damage to the environment that has been caused up to now is already a situation that cannot be returned, and the landfall id occurring on the pipeline route now.

On March 25th, 18 groups including FoE Japan sent JBIC the letter to request to hold fast to the observance of the standard "Environmental, social consideration guideline" that JBIC had voluntarily installed.


English original is here.