Letter to European Commission regarding proposed EIB loan for ArcelorMittal Brazil

Less than a month after approving a EUR 250 million loan for ArcelorMittal's EU operations, the EIB is now considering a EUR 130 million loan for the worlds largest steel company, this time for activities in Brazil.

Considering its size and resources, Global Action on ArcelorMittal believe that ArcelorMittal could access financing from other sources, and is concerned about the company's environmental, social and transparency record. The coalition therefore urges the EC to issue a negative opinion for this loan to ArcelorMittal in Brazil.