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Royalties to landowners / development levies to communities could be paid by foreign direct investment projects in developing countries

By Hicbd
Mon Jul 26 2021 11:56 am

"The $19 billion Exxon-led PNG LNG project was supposed to be a game-changer for PNG, a vast South Pacific archipelago beset by poverty despite its wealth of natural resources. But much of the promised riches, through taxes to the government, royalties to landowners and development levies to communities, have arrived well below Exxon’s own commissioned forecasts, if at all, according to landowners, the World Bank and the PNG government."

URL:
https://www.reuters.com/article/us-papua-lng-exxon-mobil-insight/in-papua-new-guinea-exxons-giant-lng-project-fuels-frustration-idUSKCN1PA32M
https://www.vice.com/en/article/7b74pd/papua-new-guinea-is-cursed
https://www.vice.com/en/article/ev738j/royal-dutch-shell-agrees-to-83-million-payout-for-nigerian-oil-spills

URL Credit

Categories:
International Development / Foreign Aid / NGOs Pollution Global Economic Development / Sustainable Industries Oil and Gas Industry Basic / Guaranteed Income Development Finance Institutions (DFIs) World Bank Nigeria (country) Foreign Direct Investment Papua New Guinea Global Indigenous Communities

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