EU bank offers Monsanto a helping hand with public funds

EU bank offers Monsanto a helping hand with public funds
3 December, 2012
By Staff Writer
NYR Natural News

Natural Health News — Monsanto, the world’s most prominent promoters of GMO crops worldwide, is set to receive $40 million (£25 million) of public financial support via the European Bank for Reconstruction and Development (EBRD).

The EBRD has provisionally approved this massive financial guarantee to cover Monsanto in case farmers and other large-scale customers cannot pay for seeds or agrochemical products they committed to buy from the corporation. The support is to be offered by the EBRD for contracts made by Monsanto with medium and large farmers and distributors in Bulgaria, Hungary, Russia, Serbia, Turkey, and Ukraine.

US corporation Monsanto is the world’s largest seed producer, the fourth largest agrochemical company worldwide and a Fortune 500 company.

Your right to choose what you eat eroding

The Central and Eastern Europe Bankwatch, a European NGO that monitors the activities of international financial institutions, has been highly critical of the proposal, asking, not unreasonably why a company that can afford to throw millions at depriving people of the right to choose what they eat deserves backing with public development money.


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