Press Releases
[Press release] Two-thirds of Muscovites oppose destruction of Khimki Forest for motorway, says new poll
(August 13, 2010)
A recent public opinion poll on the controversial 1.5 billion euros Moscow-St.Petersburg motorway project finds that 67 percent of Muscovites oppose sacrificing the Khimki Forest near Moscow for the construction of the new road and reveals only 19 percent support the project in its current form.
In response to the question "What is your opinion: is it worth sacrificing the Khimki Forest Park for the advantages of the new Moscow-St. Petersburg motorway?" two-thirds of the 1800 interviewees consider this sacrifice unjust, with some respondents offering that the motorway can be built on a straighter alternative route that would leave the forest intact.
Plans to destroy the Khimki Forest for the motorway, which has potential financial backing from the European Investment Bank and the European Bank for Reconstruction and Development have triggered outrage among environmentalists in Russia.
In response to the question "What is your opinion: is it worth sacrificing the Khimki Forest Park for the advantages of the new Moscow-St. Petersburg motorway?" two-thirds of the 1800 interviewees consider this sacrifice unjust, with some respondents offering that the motorway can be built on a straighter alternative route that would leave the forest intact.
Plans to destroy the Khimki Forest for the motorway, which has potential financial backing from the European Investment Bank and the European Bank for Reconstruction and Development have triggered outrage among environmentalists in Russia.
[Press release] Khimki Forest movement leader violently detained in Moscow
(August 4, 2010)
Yevgenia Chirikova, the leader of the Movement to Defend Khimki Forest, has today been forcibly detained by police in Moscow immediately after a press conference on the persecution of activists opposing the construction of a motorway through the Khimki Forest just outside Moscow.
At the time of writing she has been released after several hours of interrogation, but urged to come to Khimki's police station tomorrow for another round of questioning.
The arrest comes after several tense weeks in which illegal felling of trees began in the Khimki Forest and was opposed by local activists who set up a camp there. Yevgenia herself was physically attacked by unknown perpetrators in the forest on 16 July and suffered minor injuries. After initial success in temporarily stopping the logging, activists were forcibly evicted by police from the area that is now heavily guarded. At an unsanctioned rally in the Khimki forest this Monday approximately 10 more demonstrators were arrested by the police.
At the time of writing she has been released after several hours of interrogation, but urged to come to Khimki's police station tomorrow for another round of questioning.
The arrest comes after several tense weeks in which illegal felling of trees began in the Khimki Forest and was opposed by local activists who set up a camp there. Yevgenia herself was physically attacked by unknown perpetrators in the forest on 16 July and suffered minor injuries. After initial success in temporarily stopping the logging, activists were forcibly evicted by police from the area that is now heavily guarded. At an unsanctioned rally in the Khimki forest this Monday approximately 10 more demonstrators were arrested by the police.
[Press release] European bank rightly withdraws from controversial Ethiopian dam but decision brings more questions than answers
(July 21, 2010)
A coalition of international non-governmental organisations welcomed this week's announcement by the European Investment Bank that it would no longer consider financing for the Gibe III hydroelectric project in Ethiopia.
Citing that the "Ethiopian government has found alternative sources of finances," the bank's decision follows the signing of a memorandum of understanding between EEPCO, the Ethiopian state-owned electric utility, and Dongfang Electric Machinery Corporation, a Chinese state-owned company, to provide electrical and mechanical equipment for the project.
In March 2010 coalition members Counter Balance, International Rivers, Campaign for the Reform of the World Bank, Survival International and Friends of Lake Turkana launched a global call to halt construction on the Gibe III dam because if completed, it would permanently jeopardise fragile ecosystems in both Ethiopia and Kenya and dramatically alter the lives of 500 000 people in the region.
But while the groups applaud that no European Union funds will be granted to such a destructive project, fresh concerns arise in light of the bank's "exit strategy" from the project, a characteristically opaque move that underscores problems plaguing the bank's involvement in the Gibe III project.
Citing that the "Ethiopian government has found alternative sources of finances," the bank's decision follows the signing of a memorandum of understanding between EEPCO, the Ethiopian state-owned electric utility, and Dongfang Electric Machinery Corporation, a Chinese state-owned company, to provide electrical and mechanical equipment for the project.
In March 2010 coalition members Counter Balance, International Rivers, Campaign for the Reform of the World Bank, Survival International and Friends of Lake Turkana launched a global call to halt construction on the Gibe III dam because if completed, it would permanently jeopardise fragile ecosystems in both Ethiopia and Kenya and dramatically alter the lives of 500 000 people in the region.
But while the groups applaud that no European Union funds will be granted to such a destructive project, fresh concerns arise in light of the bank's "exit strategy" from the project, a characteristically opaque move that underscores problems plaguing the bank's involvement in the Gibe III project.
[Press release] Violence against people and nature prompts barricades from Russian activists as 8bn euros motorway plans press on
(July 19, 2010)
Representatives from Russian non-governmental organisation Movement to Defend Khimki Forest have today erected blockades and plan to continue their defence of the protected Khimki Forest area on Moscow's northern outskirts against construction on one section of the 8 billion euro Moscow-St. Petersburg motorway.
The action comes in response to Friday's attack on co-ordinator of the Khimki movement Evgenia Chirikova, who suffered minor injuries from an unknown assailant, and the commencement of illegal logging activities in the forest by French construction company Vinci.
Though no permits for the construction have been issued and while local residents and members of the Khimki Forest movement managed to temporarily halt the clearing of trees, at least seven hectares of the park were felled already, estimate the local groups.
Groups argue that routing the motorway through the Khimki Forest, a popular respite area for local residents in the polluted and densely populated region and home to elks, boars and other animals, is unnecessary as a straighter route variant exists that would most likely cost less.
The action comes in response to Friday's attack on co-ordinator of the Khimki movement Evgenia Chirikova, who suffered minor injuries from an unknown assailant, and the commencement of illegal logging activities in the forest by French construction company Vinci.
Though no permits for the construction have been issued and while local residents and members of the Khimki Forest movement managed to temporarily halt the clearing of trees, at least seven hectares of the park were felled already, estimate the local groups.
Groups argue that routing the motorway through the Khimki Forest, a popular respite area for local residents in the polluted and densely populated region and home to elks, boars and other animals, is unnecessary as a straighter route variant exists that would most likely cost less.
[Press release] Groups blast veiled decision-making at European Commission as mining industry revels in rejection of crucial Parliamentary resolution
(July 7, 2010)
Environmental organisations have today criticised Commissioner Janez Potocnik for heeding mining industry lobbyists over a democratically elected European Parliament, in failing to open public discussions and rejecting a resolution to ban the use of cyanide in mining processes throughout the European Union.
The resolution, put forward by Parliament in May and one of the strongest resolutions on environmental questions ever passed, calls “on the Commission to propose a complete ban on the use of cyanide mining technologies in the European Union before the end of 2011, since this is the only safe way to protect our water resources and ecosystems against cyanide pollution from mining activities.”
Yet while repeated attempts by civil society groups to be involved in consultations on implementing the ban were stonewalled by the Commission, mining industry sources have boastfully circulated news about their active involvement in having the resolution shot down via the European Association of Mining Industries, an industry lobby committee formed to advise the Commission.
The resolution, put forward by Parliament in May and one of the strongest resolutions on environmental questions ever passed, calls “on the Commission to propose a complete ban on the use of cyanide mining technologies in the European Union before the end of 2011, since this is the only safe way to protect our water resources and ecosystems against cyanide pollution from mining activities.”
Yet while repeated attempts by civil society groups to be involved in consultations on implementing the ban were stonewalled by the Commission, mining industry sources have boastfully circulated news about their active involvement in having the resolution shot down via the European Association of Mining Industries, an industry lobby committee formed to advise the Commission.
[Press release] Barroso urged to kick-start EU Budget review, more open and transparent process essential, say groups
(June 18, 2010)
The Coalition for Sustainable EU Funds has today written to European Commission president Jose Manuel Barroso requesting that new life is breathed into the EU budget reform process in order to ensure that a new green economy results from the billions of euros to be allocated across the European Union after 2013.
The coalition, comprising a range of European non-governmental organisations, specifically called on President Barroso to put discussions about the future of the EU
budget back in the public domain via a clear and transparent EU budget reform process.
Markus Trilling, said: "The EU budget is a chance to put the EU’s priorities into action. In these times of ongoing crisis and radical austerity measures across Europe, the European Commission must ensure that the EU budget works in the public interest. It can do this by kick-starting the stalled post-2013 budget review process with the necessary public participation and transparency."
The coalition, comprising a range of European non-governmental organisations, specifically called on President Barroso to put discussions about the future of the EU
budget back in the public domain via a clear and transparent EU budget reform process.
Markus Trilling, said: "The EU budget is a chance to put the EU’s priorities into action. In these times of ongoing crisis and radical austerity measures across Europe, the European Commission must ensure that the EU budget works in the public interest. It can do this by kick-starting the stalled post-2013 budget review process with the necessary public participation and transparency."
[Press release] NGOs urge EBRD to end support for cyanide use in mining
(May 18, 2010)
Civil society participants to the annual meeting of the European Bank for Reconstruction and Development (EBRD) in Zagreb called on the directors of the bank to initiate a funding ban on gold mining projects that look to apply the cyanide leaching technology. The groups, from eastern Europe and Central Asia, are looking for strong commitments on non-use of cyanide to feature in the EBRD's forthcoming mining strategy.
Daniel Popov, of the Center for Environmental Information and Education in Sofia and Bankwatch national coordinator said: “We presented the EBRD's board over the weekend with a petition to ban cyanide from its portfolio and hopefully the bank will pick up on the European Parliament's recent strong resolution that insists on a total ban on cyanide mining technologies in the EU before the end of 2011.
“For the sake of public safety and public health, and in light of the unsatisfactory plans that keep coming from gold mining firms, the EBRD should shut off its vital funding sources to cyanide-related activties and save the money for much more sustainable project gold, such as energy efficiency and renewables.”
Daniel Popov, of the Center for Environmental Information and Education in Sofia and Bankwatch national coordinator said: “We presented the EBRD's board over the weekend with a petition to ban cyanide from its portfolio and hopefully the bank will pick up on the European Parliament's recent strong resolution that insists on a total ban on cyanide mining technologies in the EU before the end of 2011.
“For the sake of public safety and public health, and in light of the unsatisfactory plans that keep coming from gold mining firms, the EBRD should shut off its vital funding sources to cyanide-related activties and save the money for much more sustainable project gold, such as energy efficiency and renewables.”
[Press release] Environmental activists protest EBRD's new 'Coal Growth' agenda
(May 14, 2010)
Environmental activists from around central and eastern Europe today staged an action outside the annual meeting of the European Bank for Reconstruction and Development (EBRD), warning the international public development bank that more investments in coal would seriously set back any plans the bank has to deliver on fighting climate change and building sustainable economies in its region of operations.
Dressed in miners' costumes, the activists released black CO2 balloons and delivered a clear message to the assembled EBRD bankers and officials: “Is coal the best you can do?”
Toni Vidan, Energy coordinator of Green Action/Friends of the Earth Croatia, said: “The EBRD is promoting a so-called 'New Growth Agenda' for the crisis-hit countries of central and eastern Europe, yet all the indications are that this will include a new 'coal growth' agenda. It's a shocking new development for a European institution that is talking up its pro-climate initiatives yet still appears intent on turning the energy clock back by supporting more coal mines and coal-fired power stations.”
Dressed in miners' costumes, the activists released black CO2 balloons and delivered a clear message to the assembled EBRD bankers and officials: “Is coal the best you can do?”
Toni Vidan, Energy coordinator of Green Action/Friends of the Earth Croatia, said: “The EBRD is promoting a so-called 'New Growth Agenda' for the crisis-hit countries of central and eastern Europe, yet all the indications are that this will include a new 'coal growth' agenda. It's a shocking new development for a European institution that is talking up its pro-climate initiatives yet still appears intent on turning the energy clock back by supporting more coal mines and coal-fired power stations.”
[Press release] Transparency too "burdensome" on banks benefiting from taxpayers money, says EBRD
(May 11, 2010)
In the run-up to its annual meeting in Zagreb this week, the European Bank for Reconstruction and Development (EBRD) has today released its new Country Strategy for Croatia. In response to inputs to the strategy calling for the bank to assure the public that its loans to financial intermediaries (private banks) on-lended to small- and medium-sized enterprises (SMEs) are not environmentally harmful, the EBRD has commented the following:
"The Bank does not require reporting on sectors financed and other details (including the identity of beneficiaries) of loans to SMEs through intermediaries, as burdensome reporting of individual loans would discourage the intermediaries from engaging in small business finance."
Given the increased emphasis that the EBRD is now placing on financial intermediary (FI) lending - now thought to be totalling close to 40 percent of the bank's annual lending - Bankwatch is calling for a much-needed opening up of the EBRD's FI lending, to not only ascertain for the public if the bank's billions via FIs are serving the public and the environment, but also to know exactly which SMEs are benefiting at all.
"The Bank does not require reporting on sectors financed and other details (including the identity of beneficiaries) of loans to SMEs through intermediaries, as burdensome reporting of individual loans would discourage the intermediaries from engaging in small business finance."
Given the increased emphasis that the EBRD is now placing on financial intermediary (FI) lending - now thought to be totalling close to 40 percent of the bank's annual lending - Bankwatch is calling for a much-needed opening up of the EBRD's FI lending, to not only ascertain for the public if the bank's billions via FIs are serving the public and the environment, but also to know exactly which SMEs are benefiting at all.
[Press release] Bankwatch welcomes European Parliament vote in favour of cyanide gold mining ban
(May 5, 2010)
Today's vote at the European Parliament in favour of a general ban on the use of cyanide mining technologies in the European Union, carried overwhelmingly with 488 votes in favour of the resolution, 57 abstentions and 48 against, has been warmly welcomed by CEE Bankwatch Network.
Members of the European Parliament called on the European Commission to "initiate a complete ban on the use of cyanide mining technologies in the European Union before the end of 2011, since this is the only safe way to protect our water resources and ecosystems against cyanide pollution from mining activities".
Bankwatch member groups in Bulgaria have been campaigning for the last four years against the introduction of cyanide technology at several gold mining projects seeking multi-million project finance support from the European Bank for Reconstruction and Development (EBRD).
Members of the European Parliament called on the European Commission to "initiate a complete ban on the use of cyanide mining technologies in the European Union before the end of 2011, since this is the only safe way to protect our water resources and ecosystems against cyanide pollution from mining activities".
Bankwatch member groups in Bulgaria have been campaigning for the last four years against the introduction of cyanide technology at several gold mining projects seeking multi-million project finance support from the European Bank for Reconstruction and Development (EBRD).
[Press release] EBRD 250 million euro loan approval for Slovak motorway challenged after illegal damage to nature reserve
(May 4, 2010)
Friends of the Earth Slovakia-CEPA has called on President Thomas Mirow of the European Bank for Reconstruction and Development (EBRD) to review the bank’s decision taken last week to approve a EUR 250 million loan for the D1 motorway in Slovakia, after it was revealed that construction activities on the project have damaged a nature reserve within the Velka Fatra National Park.
While carrying out construction work for the project the week before the EBRD decision, contractors - including Bouygues Travaux Publics and Slovak companies - dug a ridge along a peat bog in the Rojkovske raselinisko mire nature reserve, protected since 1950 under national legislation and now also under the EU Habitats Directive.
Slovak nature expert Jan Topercer, from the Botanical Garden at Blatnica and the Institute of Nature Conservation run by Comenius University, said “The Rojkov mire is around 15,000 years old, is thought to be the oldest in Slovakia, and is considered by experts to be of outstanding biological and paleontological significance. This recent illegal interference with the peat bog has the potential to lead to water drainage and the drying up of the wetland area. Given how badly planned and routed this project is, it will be no surprise to see a lot more damage cropping up in the months ahead.”
While carrying out construction work for the project the week before the EBRD decision, contractors - including Bouygues Travaux Publics and Slovak companies - dug a ridge along a peat bog in the Rojkovske raselinisko mire nature reserve, protected since 1950 under national legislation and now also under the EU Habitats Directive.
Slovak nature expert Jan Topercer, from the Botanical Garden at Blatnica and the Institute of Nature Conservation run by Comenius University, said “The Rojkov mire is around 15,000 years old, is thought to be the oldest in Slovakia, and is considered by experts to be of outstanding biological and paleontological significance. This recent illegal interference with the peat bog has the potential to lead to water drainage and the drying up of the wetland area. Given how badly planned and routed this project is, it will be no surprise to see a lot more damage cropping up in the months ahead.”
[Press release] Enel's plans to export its pollution to Albania exposed by new report
(April 27, 2010)
Italian energy company Enel's plans to construct a 1600 megawatt coal-fired thermal power plant in Porto Romano, Albania would increase Albania's carbon dioxide emissions by more than 2.5 times their current level, according to a new report released today by Albanian NGO EDEN Center and CEE Bankwatch Network to coincide with Enel's annual shareholders' meeting. The plans also contradict Albania's national energy strategy that sees no major role for coal-fired power in the country's energy sector,
“Over the edge: Enel's plans to export its pollution to Porto Romano, Albania” concludes that with 85 percent of the mooted plant's electricity to be exported to Italy, the project represents a raw deal for Albania and is likely to severely hamper the development of industries in Albania with strong job creation potential such as renewable energy, energy efficiency services or the tourist industry.
“Over the edge: Enel's plans to export its pollution to Porto Romano, Albania” concludes that with 85 percent of the mooted plant's electricity to be exported to Italy, the project represents a raw deal for Albania and is likely to severely hamper the development of industries in Albania with strong job creation potential such as renewable energy, energy efficiency services or the tourist industry.
[Press release] Anti-cyanide campaigners hail Bulgarian court verdict, EU-wide ban next on agenda
(April 20, 2010)
The Cyanide Free Bulgaria Coalition and CEE Bankwatch Network welcomed the final decision of the Supreme Administrative Court of Bulgaria cancelling the environmental permit of Dundee Precious Metals that would have seen the Canadian mining company introducing controversial cyanide technology for the extraction of gold at the Chelopech mine.
Echoing long-standing concerns about the project's environmental impact assessment shortcomings that have been pointed out consistently by the Cyanide Free Bulgaria Coalition to Bulgarian and European institutions, in its ruling of April 15 the Supreme Administrative Court referred to the lack of proper public consultations surrounding the project.
Dundee Precious Metals had been expected to apply for project finance from the European Bank for Reconstruction and Development (EBRD) for the introduction of the cyanide leaching of gold at Chelopech following earlier EBRD loans totalling USD 25 million for operations at the mine.
Echoing long-standing concerns about the project's environmental impact assessment shortcomings that have been pointed out consistently by the Cyanide Free Bulgaria Coalition to Bulgarian and European institutions, in its ruling of April 15 the Supreme Administrative Court referred to the lack of proper public consultations surrounding the project.
Dundee Precious Metals had been expected to apply for project finance from the European Bank for Reconstruction and Development (EBRD) for the introduction of the cyanide leaching of gold at Chelopech following earlier EBRD loans totalling USD 25 million for operations at the mine.
[Press release] Closer EBRD co-operation with hardline Turkmen government criticised by NGOs
(April 2, 2010)
CEE Bankwatch Network and Crude Accountability expressed concern today that the new country strategy for Turkmenistan announced by the European Bank for Reconstruction and Development (EBRD) is over-accommodating to the repressive government of the gas rich Central Asian country. The new strategy, approved on March 23 and made public on April 1, proposes broader EBRD engagement with Turkmenistan, but fails to list concrete political and human rights benchmarks necessary for greater engagement with the country’s government.
Andrey Zatoka, a Turkmen activist who was forced to leave the country at the end of 2009, said: “If the EBRD opens the door to investment in the development of natural resource projects before the establishment of real reforms in the legal system, then to all intents and purposes it will be supporting a mafia-like regime and providing it with responsibility for the future of the country and the region as a whole.”
Andrey Zatoka, a Turkmen activist who was forced to leave the country at the end of 2009, said: “If the EBRD opens the door to investment in the development of natural resource projects before the establishment of real reforms in the legal system, then to all intents and purposes it will be supporting a mafia-like regime and providing it with responsibility for the future of the country and the region as a whole.”
[Press release] Gas access must not cause softening of EBRD approach to Turkmen regime, Bankwatch warns
(March 22, 2010)
Ahead of a vote tomorrow by the board of directors of the European Bank for Reconstruction and Development (EBRD) on a new country strategy for Turkmenistan, the public bank watchdog Bankwatch urged the bank to maintain its up to now strong stance against human rights abuses and anti-democratic practices in the central Asian state.
However, based on analysis of the draft country strategy for Turkmenistan, Bankwatch, which has worked closely with Turkmen activists, suspects that the EBRD is preparing to ignore evidence of ongoing oppression in Turkmenistan in order to increase its currently restricted lending in the country, including future potential involvement in gas extraction and export projects.
Piotr Trzaskowski, Bankwatch's Energy coordinator, said: “The EBRD's draft strategy for Turkmenistan gives an excessive benefit of the doubt to the governing regime, and it is surely no coincidence that this more lenient approach is coming at a time when Turkmen gas is being talked of as crucial for the Nabucco pipeline, the 8 billion euro project that the EBRD and other public lenders have been eyeing for some time now.“
However, based on analysis of the draft country strategy for Turkmenistan, Bankwatch, which has worked closely with Turkmen activists, suspects that the EBRD is preparing to ignore evidence of ongoing oppression in Turkmenistan in order to increase its currently restricted lending in the country, including future potential involvement in gas extraction and export projects.
Piotr Trzaskowski, Bankwatch's Energy coordinator, said: “The EBRD's draft strategy for Turkmenistan gives an excessive benefit of the doubt to the governing regime, and it is surely no coincidence that this more lenient approach is coming at a time when Turkmen gas is being talked of as crucial for the Nabucco pipeline, the 8 billion euro project that the EBRD and other public lenders have been eyeing for some time now.“
[Press release] Bankwatch-produced film on Kyrgyz gold mining wins award at One World film festival
(March 19, 2010)
Today at the prestigious One World international documentary film festival in Prague, the Bankwatch-produced film 'All that glitters', directed by Tomas Kudrna, picked up the Czech Radio Award for creative use of music and sound in a documentary film.
The film focuses on the lives of the villagers of Barskon, a remote settlement in the west of Kyrgyzstan that, since 1997, has also been home to a controversial gold mine. In 1998, nearly two tons of cyanide spilled from the gold mine operations, poisoning the nearby river and leaving several people dead and hundreds seeking medical treatment.
CEE Bankwatch Network's interest in teaming up with the Czech director Tomas Kudrna stems from the involvement of two international public financial institutions - the European Bank for Reconstruction and Development (EBRD) and the International Finance Corporation (IFC) - in the gold mine. Bankwatch has worked over the years with local communities to bring their grievances to the attention of these international funders.
The film focuses on the lives of the villagers of Barskon, a remote settlement in the west of Kyrgyzstan that, since 1997, has also been home to a controversial gold mine. In 1998, nearly two tons of cyanide spilled from the gold mine operations, poisoning the nearby river and leaving several people dead and hundreds seeking medical treatment.
CEE Bankwatch Network's interest in teaming up with the Czech director Tomas Kudrna stems from the involvement of two international public financial institutions - the European Bank for Reconstruction and Development (EBRD) and the International Finance Corporation (IFC) - in the gold mine. Bankwatch has worked over the years with local communities to bring their grievances to the attention of these international funders.
[Press release] New report: EU funds must plug clean energy gap in central and eastern Europe
(March 3, 2010)
On the day that the European Commission launches its vision for 2020, its ‘Europe 2020 strategy’, a new report from CEE Bankwatch Network and Friends of the Earth Europe lays out how improved targeting of EU structural and cohesion billions for energy efficiency and renewables can get the EU - and particularly the new member states in the east - on track to meet and exceed emissions reduction targets for tackling climate change.
The new analysis from CEE Bankwatch Network and Friends of the Earth Europe points to alarming shortcomings in how billions of EU funds earmarked for clean energy projects in the new member states are being deployed. It calls for big increases in the marginal allocations that the new member states have thus far given to clean energy schemes, citing widespread evidence from the ground that building efficiency schemes are ready to take off if they become more affordable and if EU money is better targeted.
The new analysis from CEE Bankwatch Network and Friends of the Earth Europe points to alarming shortcomings in how billions of EU funds earmarked for clean energy projects in the new member states are being deployed. It calls for big increases in the marginal allocations that the new member states have thus far given to clean energy schemes, citing widespread evidence from the ground that building efficiency schemes are ready to take off if they become more affordable and if EU money is better targeted.
[Press release] Transparency allergy reappears at EIB, crisis billions still cloaked in confidentiality
(February 4, 2010)
CEE Bankwatch Network today criticised the European Investment Bank (EIB) for adopting a new transparency policy that persists in keeping the final destination of billions of publicly backed money unknown to the public.
Information on loans from commercial banks across Europe, that have received credit lines from the EIB, to final beneficiaries such as small- and medium-sized companies, public authorities, mid-companies, investments funds or equity funds remains unobtainable to the public, under the EIB's new transparency policy signed off this week by the bank's directors. This type of lending is a central - and growing - plank of the EIB's economic crisis response.
Anna Roggenbuck, Bankwatch's EIB Campaign coordinator, said: “The EIB's unwillingness to permit just a chink of light on its lending through financial intermediaries is symptomatic of the new policy as a whole. If one of the lessons of the economic crisis is the need for greater transparency in the financial system, then the message has not got through to the EU's bank.”
Information on loans from commercial banks across Europe, that have received credit lines from the EIB, to final beneficiaries such as small- and medium-sized companies, public authorities, mid-companies, investments funds or equity funds remains unobtainable to the public, under the EIB's new transparency policy signed off this week by the bank's directors. This type of lending is a central - and growing - plank of the EIB's economic crisis response.
Anna Roggenbuck, Bankwatch's EIB Campaign coordinator, said: “The EIB's unwillingness to permit just a chink of light on its lending through financial intermediaries is symptomatic of the new policy as a whole. If one of the lessons of the economic crisis is the need for greater transparency in the financial system, then the message has not got through to the EU's bank.”
[Press release] Chelopech gold mine plans frozen, campaigners call for cyanide leaching to be binned
(January 26, 2010)
An announcement from Dundee Precious Metals that it is freezing plans on its investment at the Chelopech gold and copper mine in central Bulgaria because of ongoing legal challenges has been welcomed by the Cyanide-free Bulgaria coalition.
As reported in the Bulgarian media yesterday, Dundee's announcement comes after more than five years of problems and controversies surrounding the Canadian company's plans to introduce cyanide leaching technologies in order to extract gold at the Chelopech mine.
With the legal appeals process concerning permits for stage two of the Chelopech mine development expected to last upwards of two years, the Cyanide-free Bulgaria coalition has written to Dundee Precious Metals, encouraging the company to use this hiatus period to conduct further research into technologies safer than cyanide and to carry out improved public consultations.
As reported in the Bulgarian media yesterday, Dundee's announcement comes after more than five years of problems and controversies surrounding the Canadian company's plans to introduce cyanide leaching technologies in order to extract gold at the Chelopech mine.
With the legal appeals process concerning permits for stage two of the Chelopech mine development expected to last upwards of two years, the Cyanide-free Bulgaria coalition has written to Dundee Precious Metals, encouraging the company to use this hiatus period to conduct further research into technologies safer than cyanide and to carry out improved public consultations.
[Press release] Bulgarian parliament hears the anti-cyanide concerns of thousands
(January 21, 2010)
Today at the Bulgarian parliament's Petitions Committee three public petitions related to controversial mining initiatives were heard, in a process described by 'Cyanide Free Bulgaria' campaigners as “encouraging and not before time.”
Two of the petitions - one of 14 400 signatures supporting a legally binding cyanide ban across Bulgaria, the other 'For a clean Maritza River' aiming to prevent industrial pollution from mining - had been overlooked for two years, but following re-submission to the Petitions Committee in November last year were finally granted a hearing in the committee.
Daniel Popov, Bankwatch national coordinator in Bulgaria and member of the Cyanide Free Bulgaria coalition, said: “The fact that these petitions have been heard in the Bulgarian parliament's committee at all represents good progress for the thousands of people and hundreds of communities across Bulgaria that face the prospect of mining involving lethal chemicals taking place in their areas, next to their water sources, and usually without consultation.
Two of the petitions - one of 14 400 signatures supporting a legally binding cyanide ban across Bulgaria, the other 'For a clean Maritza River' aiming to prevent industrial pollution from mining - had been overlooked for two years, but following re-submission to the Petitions Committee in November last year were finally granted a hearing in the committee.
Daniel Popov, Bankwatch national coordinator in Bulgaria and member of the Cyanide Free Bulgaria coalition, said: “The fact that these petitions have been heard in the Bulgarian parliament's committee at all represents good progress for the thousands of people and hundreds of communities across Bulgaria that face the prospect of mining involving lethal chemicals taking place in their areas, next to their water sources, and usually without consultation.
CEE Bankwatch Network gratefully acknowledges EU funding support.