Adani has failed to attract private finance to its proposed Carmichael mine and rail project, becoming increasingly reliant on public funding to proceed. The company has already attempted to use the Northern Australia Infrastructure Facility to secure a publicly-funded loan – this was vetoed by the Queensland Government in 2017.
This year it emerged that the Export Finance and Insurance Corporation (EFIC), an Australian government institution, has become a potential funding vehicle for Adani’s plans to open up the Galilee Basin to coal mining. Already, EFIC has been approached by several of Adani’s contractors and Adani themselves about potential funding options. Trade Minister Steven Ciobo has also relaxed the rules concerning EFIC’s ability to lend to large projects like the Carmichael mine.
This is yet another example of the federal government going to extreme lengths to try to pour Australian taxpayer dollars into the wildly unpopular and environmentally disastrous project. Contact EFIC and Minister Ciobo to demand that no public money goes into Adani’s dirty coal export project.
Use the form to tell EFIC: No public money to Galilee Coal!