EBRD support for ArcelorMittal Temirtau is failing to stem pollution and accidents

In 2007 the EBRD approved a USD 100 million loan for ArcelorMittal Temirtau (AMT), a metal and mining complex in the Karaganda region of Central Kazakhstan in order to support further improvements to Mittal Steel Temirtaus health and safety practices at its coal mines in Karaganda with the aim to bring them in line with international best practice. Yet Giant companies with high profits such as ArcelorMittal hardly need the support of international taxpayers, and the EBRD should develop tighter criteria for its private sector financing to ensure that companies benefiting are those that really need public financial support.