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Armenia: Gold

Foreign and Commonwealth Office written question – answered on 13th January 2020.

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Photo of Lloyd Russell-Moyle Lloyd Russell-Moyle Labour/Co-operative, Brighton, Kemptown

To ask the Secretary of State for Foreign and Commonwealth Affairs, with reference to the Answer of 5 September 2019 to Question 285002 on Armenia: Gold, whether UK public money in Lydian International’s Amulsar mine via UK membership of the European Bank for Reconstruction and Development and the International Financial Corporation is defined as an official UK investment.

Photo of Lloyd Russell-Moyle Lloyd Russell-Moyle Labour/Co-operative, Brighton, Kemptown

To ask the Secretary of State for Foreign and Commonwealth Affairs, whether his Department conducted a (a) cost-benefit and (b) risk analysis to its investment, via the European Bank for Reconstruction and Development and International Finance Corporation, and support for Lydian International’s Amulsar mine.

Photo of Christopher Pincher Christopher Pincher Minister of State

The United Kingdom's membership and support for international financial institutions helps advance sustainable and inclusive growth in developing economies. The European Bank for Reconstruction and Development (EBRD) and the International Financial Corporation (IFC) have robust environmental, social and governance safeguards and review projects and investments to seek to ensure consistency with these. The United Kingdom uses its role as a leading shareholder of the EBRD and IFC Board to encourage robust standards to be met.

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