The Peoples Coalition on Food Sovereignty (PCFS) demands the members of the Asian Infrastructure and Investment Bank (AIIB) to stop funding projects especially of China’s Belt and Road Initiative (BRI) that result to landgrabbing and rural peoples’ displacement. On the occasion of the AIIB’s annual meeting this July 12-13 in Luxembourg, we stand with the rural peoples on their call for greater accountability and transparency, as well as justice for the violations of the people’s rights.
While AIIB asserted that it is a multilateral bank for the longest time, recent pronouncements show that it is ultimately a financing institution of the BRI with over 7,000 China-funded projects that focus on transportation, maritime navigation, energy, and trade spanning more than 60 countries in the Global South.
As a multilateral lender, AIIB has been consistently behind most of the BRI projects – as a co-funder or as a key lender. This will surely accelerate as AIIB President Jin Liqun declared to focus more on the bank’s own portfolio and sees the bank as a “twin engine” with BRI.[i] More than 60 out of the 87 member countries of the AIIB are part of the BRI. As it is, AIIB is currently bankrolling China’s expansionist lending strategy that ultimately impacts the most vulnerable in the Global South – the rural peoples.
Last month in Hong Kong, PCFS together with the Asia Pacific Research Network (APRN) conducted a forum on China’s BRI and its impact on the rural peoples. Discussions and accounts of the participants from Asia, Africa, and Latin America regions paint a dismal picture of the BRI projects’ impacts to rural peoples and the right to food sovereignty. Numerous cases of rights violations such as displacement, landgrabbing, harassment, corrosion of traditions, and aggravation of fragility in regions have been reported.
A threat to the right to land. Without adequate environmental and social assessment in the regions and countries, AIIB has been co-funding multiple BRI projects that are opaque and inaccessible to the public. As mentioned above, these include megadams, large roads, ports, and energy plants that often result in landgrabbing and displacement. Continue reading