Investment hazards

SEVERAL Finnish and us environmental
groups have requested the Finnish
Guarantee Board (FGB) and the US
Overseas Private Investment Corporation (OPIC) to include mechanisms for
environmental protection, transparency
and public participation in their investments affecting Russia's fragile ecosystems. The two organisations are holding
negotiations for investments worth
millions of dollars in northwest Russia
in the oil, timber and transport sectors.
The FGB, a Finnish government agency,
provides grants worth millions of
dollars in state and export guarantees to
Finnish exporters, financial institutions
and enterprises that operate in other
countries. OPIC is a us government
agency that provides subsidised loans
and political risk insurance to us corporations investing abroad.