In 2016, ING joined a banking consortium led by the World Bank (IFC - International Finance Corporation) financing the CBG bauxite mine in Guinea. Bauxite is the raw material for aluminum.

Prior to financing the project, the banking consortium assessed the environmental, social and human rights aspects of the mine in accordance with the strict due diligence standards of the IFC. Nevertheless, we learned that serious concerns have been expressed. In cases of alleged misconduct, the IFC provides for an independent Ombudsman procedure.

In 2019, a complaint was made to the IFC Compliance Advisor Ombudsman. This has already involved site visits and discussions in Guinea, where the complainants and the IFC consortium agreed on a mediation process. ING is closely following the developments and this ombudsman process.

The status and further developments of the process can be found here: Guinea: CBG-01/ Sangaredi | Office of the Compliance Advisor Ombudsman (cao-ombudsman.org)