Follow us on Twitter

इंफ़्रास्ट्रक्चर निवेश: विकास या विनाश

एशियन इंफ़्रास्ट्रक्चर इन्वेस्टमेंट बैंक और भारत का नेशनल इन्वेस्टमेंट एंड इंफ़्रास्ट्रक्चर फ़ंड के निवेश संकट की और एक इशारा

भारत में जलविद्युत विकास को बड़े पैमाने पर बढ़ावा

इस सेक्टर में निजी क्षत्रे को आकर्षित करने के लिए सरकार ने 2016 में इस पर चर्चा शुरू की कि नवीकरणीय ऊर्जा के क्षत्रे को और विस्तृत किया जाए ताकि 25 मेगावाट क्षमता से अधिक के जलविद्युत स्टेशन भी उसमें शामिल किए जा सके। इससे सरकार को 2022 तक 175 मेगावाट नवीकरणीय ऊर्जा उत्पादित करने के लक्ष्य को हासिल करने में मदद मिलेगी।

Schedule of the Workshops at the Peoples’ Convention on Infrastructure Financing

conference
At the Peoples Convention on Infrastructure Financing, almost 90 regional, national, and international grassroots and research organisations have come together to organise 20 workshops related to Infrastructure Financing; Development Financial Institutions; Policies and Safeguards; Urban Development; Transport; Port and Coastal Infrastructure; Energy and Energy Finance; Trade and International Financing; Water and Water Sector Reforms; Privatisation and PPPs, Gender; Social Marginalisation among other areas.
 So far over 200 people have registered for these workshops. The individual registrations for the workshops are still open. You can find a detailed schedule of the workshop here.

Bullet Train: Propelling Public Debt in India

Krishnakant of the Paryavaran Suraksha Samiti, Gujarat on the rationale of the proposed bullet train between Mumbai and Ahmedabad.

PPPs, Infrastructure, and Economic Development

Shalmali Guttal, Focus on the Global South, discusses the IFIs, PPPs, Infrastructure, and Economic Development.

Coastal Infrastructure and Fishers Struggle in India

Jesu Rathnam, Convenor, Coastal Action Network, on the coastal infrastructure and fishers struggle in India

IFIs, Infrastructure, and Commons

Soumya Dutta, Beyond Copenhagen Collective and PAIRVI, linking IFIs, their push for Infrastructure, and impact on commons.

Infrastructure projects in Tamil Nadu and their Impacts

Nityanand Jayaraman on the Infrastructure projects in Tamil Nadu and their Impacts

IFIs and their Impact on People

Shaktiman Ghosh, National General Secretary of the National Hawkers Federation, on the IFIs and their Impact on People

Why Should People be Vigilant About Asian Infrastructure Investment Bank?

Peoples’ Convention on Infrastructure Financing

poster final 2 copy

Invitation of the Peoples’ Convention on Infrastructure Financing

Concept Note of the Peoples Convention on Infrastructure Financing

Brochure

conferenceAt the Convention, there will be multiple workshops organised by the WGonIFIs in Mumbai during June 21-23, 2018. You can click here to participate as an individual or an organisation. You can also organise workshops.

Peoples’ Convention on Infrastructure Financing

poster final1 copy

 

Tentacles of the International Finance in India

This document is an effort to compile data of investments coming into India from MDBs, ExIm banks and other bilateral investments, to help understand the landscape of financing from these institutions and helping to understand the overlaps of international financial institutions in certain key sectors.

Tentacles-of-International-Finance-in-India

Download

New Report Warns AIIB to do Due Diligence before Investing in NIIF

 

FInancing-the-future-AIIB-and-Indias-NIIF

A latest report has asked Asian Infrastructure Investment Bank (AIIB) to “tread carefully” on National Infrastructure and Investment Fund (NIIF), a fund of fund that seeks to create long-term value for domestic and international investors seeking investment in energy, transportation, housing, water, waste management and other infrastructure-related sectors in India.

The report, released by the Bank Information Centre-Europe and Centre for Financial Accountability, titled ‘Financing the future? The Asian Infrastructure Investment Bank and India’s National Investment and Infrastructure Fund’ warns that the AIIB do due diligence at all levels before approving a new $200m deal with India in April for fear of turning the key on some highly-controversial projects now being stalled by local community opposition.

The Prime Minister Narendra Modi has also vowed to revive long-stalled infrastructure projects, especially in the coal, power, petroleum, railways and road sectors. Quoting a recent data from the Centre for Monitoring Indian Economy Pvt. Ltd (CMIE), the report mentions that the value of stalled infrastructure projects in the quarter ended September increased to Rs13.22 trillion. The CMIE’s analysis shows that 39.04% of the total stalled projects were in the electricity sector by value.

The report observes that the first proposed Indian investment on the AIIB’s books in 2018 reflects both the Indian government’s prioritisation of infrastructure financing, and the interest of AIIB in both India and financial intermediary (FI) lending, a financial model involving investing indirectly through third parties such as an infrastructure or private equity funds — which makes it difficult to track the money — thus posing a substantial risk of being spent on the coal or other harmful projects by the back door.

The report observed that FI lending is becoming the dominant model of financing at development banks. The AIIB started FI lending in 2017, when it approved approving three FI investments: in Indonesia’s Regional Infrastructure Development Fund, the India Infrastructure Fund, and the Emerging Asia Fund. Next up is a potential $200 million commitment to India’s National Investment and Infrastructure Fund.

“Around the world, we have seen how extremely risky this model of ‘hands-off’ lending through financial intermediaries can be. Without stronger safeguards and transparency, the AIIB will simply lose sight of its original investment and the damage it could cause,” said BIC Europe Campaigns Director and co-author Kate Geary in a media release.

“The AIIB must tread very carefully here because it is still accountable for any project that harms local communities in India or damages the environment – regardless of how much distance the AIIB might claim to have from it,” Geary said.

Exhorting AIIB to learn from the IFC’s problematic experience with its FI portfolio and to avoid the associated social, environmental and reputational damage, the report recommends putting in place mandatory robust policies and systems around financial intermediary investments to ensure transparency, accountability and efficient channels of communication with all stakeholders.

The recommendations include: Scrutinising the existing project portfolio and pipeline of proposed FI clients; Reviewing the track record of the FI client in applying the environmental and social framework and making this assessment public; Ensuring that FI clients require sub-projects to be compliant with all AIIB policies especially the Environmental and Social Framework (ESF), Complaints Handling Mechanism (CHM), Public Information Policy, and all relevant sectoral strategies and guidelines; Monitoring the proposed client’s social and environmental due diligence and supervision of its investment; and Ensuring FI sub-project affected communities have access to redress, including through the AIIB’s accountability mechanism.

Smart Cities and Urban Governance

Gaurav Dwivedi explains how the Smart Cities would be funded and implemented, and how the project would impact the functioning of the Urban Local Bodies.

Blue Economy, Its Impact on the Coastal Economy, and the Role of IFIs

Siddharth Chakravarty of The Research Collective explains the Blue Economy, its impact on the coastal economy, and the Role of IFIs.

Big Push for the Development of Hydropower in India

It is noteworthy that currently, coal-based power projects are under threat due to lack of coal linkages and power purchase agreements, thus stalling many existing power projects and discouraging many companies from expanding to new coal power projects. This would give a boost to hydropower projects in many regions, especially in the Himalayan regions.

Around 90 CSOs and Social Movements to Organize Thematic Workshops Parallel to AIIB’s Third AGM in Mumbai

Press Note | June 14, 2018 

Around 90 CSOs and Social Movements to Organize Thematic Workshops Parallel to AIIB’s Third AGM in Mumbai

Raising the serious issues of social and environmental costs in infrastructure projects, its economic burden on public and financial non-viability, Civil Society Organisations and social movements are set to organize a three day convention on Infrastructure Financing from June 21 – 23rd in Mumbai parallel to the Asia Infrastructure Investment Bank’s third Annual Governors Meeting slated for June 25-26 in the same city.

During the Convention, almost 90 regional, national, and international grassroots and research organisations have come together to organise 20 workshops related to Infrastructure Financing; Development Financial Institutions; Policies and Safeguards; Urban Development; Transport; Port and Coastal Infrastructure; Energy and Energy Finance; Trade and International Financing; Water and Water Sector Reforms; Privatisation and PPPs, Gender; Social Marginalisation among other areas.

“The participants of these workshops would include activists, researchers, projected affected people among others. So far, over 200 people from across the country have registered for these workshops. The Convention will be attended by Prof. Arun Kumar, Medha Patkar, Prof. Anil Sadgopal, Ulka Mahajan among others. The registrations for the workshops are still open for the individuals and media,” said Himshi Singh, one of the coordinators of the Convention.

Speaking about the Peoples Convention on Infrastructure Financing, Maju Varghese, another coordinator of the Convention, said, “the Convention is a resistance to International Finance Institutions, which are pushing massive infrastructures like industrial corridors, smart cities, sagarmala, bullet trains over peoples land and livelihood. The massive physical infrastructure will not improve peoples lives, livelihood, and social infrastructure like schools, hospitals will be left behind.”

Deliberating on this, Ulka Mahajan of Sarvahara Jan Andolan says, “The infrastructure that is being developed is not what people demand, but it is what global capital demands. The international financial institutions are promoting corporate interests over that of people and also pushing the states to the financial debt. On the one hand, the Maharashtra government does not have money to allocate 26,000 crores for the social sector, on the other hand, it has 42,000 crores for the Mumbai-Nagpur expressway, which will reduce the present distance only by 24 km.”

The Peoples Convention intends to demand accountability from the development financial institutions, particularly AIIB which lacks robust policies on environmental-social safeguards, transparent public disclosure and a complaint handling mechanism.

Meera Sanghamitra from the National Alliance of People’s Movements stated that The push for massive infrastructure projects has become a legalised way of grabbing land. Andhra Pradesh has a history of justifying land grabbing and resource appropriation in the name of multilateral donor-funded development aid and the WB-AIIB funded Amaravati Capital City Project joins this bandwagon by further legalizing the loot, leading to livelihood loss for thousands of families and a shared debt on all people of the state. Projects like Sagarmala, industrial corridors that are being pushed and promoted without considering the irreversible impact on the people’s traditional livelihoods and the environment are disasters-in-the-making.

The movements and CSOs will hold the Convention under the aegis of  Working Group on International Financial Institutions (WGonIFIs), which include around 90 people’s movements and other CSOs, including National Alliance of People’s Movements, National Hawkers Federation, National Fishworkers Forum, Narmada Bachao Andolan, Ghar Bachao Ghar Bano Andolan, Soshit Jan Andolan, Samajwadi Jan Parishad, Bhumi Adhikar Andolan; Environment Support Group; North East Peoples Alliance, and others.

Background:

Asian Infrastructure Investment Bank, the two-year-old multilateral bank, is investing in all major sectors, including energy, without robust policies on environmental-social safeguards, transparent public disclosure and an accountability/complaint handling mechanism. Out of the total 24 projects, it has financed, USD 4.4 billion has already been approved. India is the biggest recipient from AIIB with more than 1.2 billion USD supporting about six projects including Transmission lines, Capital City Development at Amravati, rural roads etc. with another 1 billion USD in proposed projects.

About Us: 

WGonIFIs, a network of movements, organisations and individuals to critically look at and evaluate the policies, programmes and investments of various International Finance Institutions (IFIs), and joining the celebration of the people and communities across the world in resisting them. A list of the network is available here.

Last year, when the Asian Development Bank completed 50 years, the WGonIFIs observed it by holding actions of protests in over 140 locations spread in over 21 states in India against the investment policies of ADB and other International Financial Institutions.

 

For further details, please contact: 

Working Group on IFIs wgonifis@gmail.com

Website: https://wgonifis.net

Concept Note: https://wgonifis.net/2018/04/29/peoples-convention-on-infrastructure-financing-concept-note/

Schedule of the workshops: https://wgonifis.net/2018/06/11/schedule-of-the-workshops-at-the-peoples-convention-on-infrastructure-financing/

Registration for the workshops: https://wgonifis.net/aiib-peoples-convention/

AIIB – A Sneak Peek into Challenges: https://wgonifis.files.wordpress.com/2018/06/aiib-a-sneak-peek-into-challanges.pdf

Infrastructure and AIIB, the new Infra Bank: https://wgonifis.files.wordpress.com/2018/05/aiib-infrastructure-booklet_may25.pdf

 

Maju Varghese |8826249887

Mecanzy Dabre | 9665006429

Himshi Singh  | 9867348307

 

Media contacts:

Shweta Tambe: +91 98693 40816

Anil Tharayath: +91 96500 15257

Afzar Jaffri on The Water sector and International Financial Institutions

At the Kharghar meeting on IFIs in India, Civil Society researchers discussed Understanding IFIS – Investments, intelligence and trends in critical sectors.

Join global campaign to urge the AIIB to take concrete steps to address the climate crisis, by shifting investments from fossil fuels towards sustainable renewable energy and to support energy access for poor communities.
For more information and asking AIIB to stop funding fossil fuels, visit: http://www.bigshiftglobal.org/aiib

Complete resources on AIIB

The AIIB’s Investments in Financial Intermediaries: CSOs Call for Disclosure and Accountability

Public Statement from the Concerned Civil Society on the AIIB Accountability Framework

CSOs Ask AIIB’s India Executive Director to not to go Ahead on NIIF

Clean, Lean, and Green: A Short Briefing on the Asian Infrastructure Investment Bank