"Please be advised that, in this particular transaction, the EBRD and Monsanto were unable to find a satisfactory project structure for financing. Each institution will continue to explore other opportunities in order to provide farmers and distributors with adequate and time-appropriate financing, which we recognize to be one of the key challenges to increase agricultural productivity in the Bank’s region of operations."
A potential cooperation between the European Bank for Reconstruction and Development and the agro-corporation Monsanto has thankfully not come to fruition. The case highlights the difficulties for a large development bank to reach farmers on the ground.
Monsanto, the world’s largest seed producer and one of the most well-known promoters of genetically modified crops worldwide, is in line to receive USD 40 million of public financial support from the European Bank for Reconstruction and Development (EBRD), the bank disclosed last month.
Since the news broke in early November that the European Bank for Reconstruction and Development is considering supporting Monsanto, one of the most controversial agricultural corporations, with up to USD 40 million, we have heard voices of protest from across Europe. Last Thursday, Serbian NGOs and anti-GMO activists took their protest to the Belgrade offices of the EBRD
London -- Monsanto, the world’s largest seed producer and one of the most prominent promoters of GMO crops worldwide, is set to receive 40 million US dollars of public financial support via the European Bank for Reconstruction and Development.
The European Bank for Reconstruction and Development considers supporting one of the most criticised and controversial corporations on the planet, Monsanto. Reasons for deciding against it are plenty.
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