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EBRD’s PCM Eligibility Determination in Amulsar Complaints is Flawed

The PCM received two complaints last year regarding EBRD’s investment in Lydian International, which is currently undertaking exploration activities for a gold mine in Armenia. The complaints raise concerns about the potential environmental and social impacts of the eventual mine. The PCM concluded that the complaints do not relate to a project that the EBRD is currently funding because, according to the EBRD’s definition of the scope of the project, the EBRD is only funding the exploration phase. In a letter to the EBRD Board and President, SOMO and CEE Bankwatch argue that determining the proper scope of the project is an argument on the merits of the allegations, which the PCM is prohibited from doing by its Rules of Procedures.

Click here for the letter.