The Norwegian’s savings ended up in an Indian company linked to the Burmese military regime. The revelation was made shortly after the military coup in the same country.
India’s Adani Group is a multinational enterprise group that has previously worked in
spotlight A controversial coal project in Australia. Now, one of the group’s companies has once again become the focus.
The global government pension fund (commonly known as the oil fund) currently owns shares and fixed income securities of its subsidiary Adani Ports & Special Economic Zone Ltd at a price of nearly 1.4 billion Norwegian kroner.According to the fund’s own Overview.
Now, the NGO Australian International Justice and Myanmar Justice Centre has written an article report This shows that Adani Ports has paid a large sum of money to the Myanmar Economic Corporation (MEC).
There should be at least 30 million U.S. dollars in land use rights, and another 22 million U.S. dollars in land settlement fees. It is said that the payment was made through a subsidiary that was responsible for the actual construction of a container port in Yangon.
After conversion, this is almost equivalent to 450 million Norwegian kroner.
These organizations believe that Adani Port has directly funded the Myanmar Army through the construction, operation and transfer agreement with MEC.
According to reports, other investors in the company at the time included asset management company Black Rock and investment banks JP Morgan Chase and Goldman Sachs. That report.
The case was originally reported by an Australian ABC.
Mendy talked about the situation in Myanmar at the Foreign Secretary Ine Eriksen Søreide on Thursday.
-Violence is directed at children and young people. This is absolutely unacceptable. Criminals must be punished.The Minister of Foreign Affairs wrote in a statement that, regrettably, the children were killed in their own homes VG.
The Foreign Minister also pointed out in the same statement that, according to the United Nations, about “1,000 children and young people were arbitrarily arrested by coup planners.”
These revelations have raised concerns about how the company’s current investors deal with this indirect connection with the military regime. This includes the Petroleum Fund, the manager of all Norwegian savings.
The Petroleum Foundation writes on its website that they have “clear expectations” for the companies the fund invests in, and how these expectations relate to “global challenges” and the United Nations’ Sustainable Development Goals.