Friday, July 06, 2007

international finance corporation (ifc), the private sector lending arm of world bank, is a major player in india's development. they finance in spite of known violations in environmental and social arena, lot of projects.

the latest funding from them is for west coast paper mills. this blog has documented the wilful pollution of west coast paper mills in the past. ifc, in spite of knowing the poor track record of west coast paper mills, is funding west coast paper mills.

interestingly hindu report says as below:
Part of the loan will fund the installation of a new chlorine-free fibre line to eliminate a major source of pollutants from pulping operations.

for a long time, local people, environmentalists and others have complained that west coast paper mills have been heavily polluting. instead of cleaning up and improving production process the mills has been on an expansion spree and hence pollution spree. now they are going to use part of the loan for a production improvement.

very interesting. a factory is polluting big time, no action is taken by anybody and then a lending institution comes along and says it is funding to reduce pollution. interesting logic wherein you can keep on polluting to being with and then pollute all the way through and then get money (part of the money perhaps) to reduce pollution.

full polluted development is perhaps more important than effective sustainable development, especially when it comes to indian factories.


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