We will not share Monsato’s risk. Potential cooperation between the EBRD and Monsanto fails.

In November 2012 Bankwatch reported that Monsanto the biotech giant behind the development of most commercial GMOs and Roundup was developing plans with the European Bank for Reconstruction and Development, (EBRD). The plans centered around a  USD 40 million ‘risk-sharing facility’ so that medium-large farmers and distributors in Russia, Ukraine, Serbia, Hungary, Bulgaria and Turkey could buy Monsanto’s seeds and agro-chemicals in installments, without Monsanto losing money if they got into debt.

Those plans have now been dropped due in part to a protest letter signed by 158 organizations which was delivered to EBRD. The letter titled “We will not share Monsanto’s risk”  can be accessed on Bankwatch’s website. http://bankwatch.org/publications/we-will-not-share-monsantos-risk-open-letter-ebrd


Be Sociable, Share!

    Leave a Reply

    Your email address will not be published.