Press releases

CEE Bankwatch Network and Friends of the Earth Europe (FoEE) revealed today, on the twentieth anniversary of the EU's Cohesion policy, that clean and efficient energy and transport investment projects continue to be denied sufficient priority attention in the EU-sponsored spending plans of the new member states (EU-10). Since the groups' previous analysis in 2007 of the EU-10's draft spending plans for the total EUR 177 billion of Structural and Cohesion funds to be disbursed to the new member states in the 2007-2013 period, the final European commission approved plans show an unambitious, marginal rise in funding for energy efficiency and renewables from 2.1 percent (2007) to 2.4 percent (2008) of total available funds. In the same time period, allocations for new roads and motorways in the EU-10 have jumped by EUR 5 billion.

[Press release] European waste compromise deal puts CEE people and nature in the incineration firing line, warns Bankwatch

(June 18, 2008)

CEE Bankwatch Network, Hnuti DUHA, Za Zemiata

Yesterday's voted compromise in the European Parliament on the Waste Framework Directive (WFD) has been criticised by CEE Bankwatch Network for raising environmental and health risks for people living in Central and Eastern Europe (CEE).

[Press release] Russia's richest oligarch Deripaska wins one-horse tender for St. Petersburg flyover motorway - taxpayers to foot the bill?

(June 10, 2008)

CEE Bankwatch Network, Save Yuntolovo

The ZSD Nevsky Meridian consortium led by the Russian multi-billionaire Oleg Deripaska has today been announced the winner of the tender for the concession on the controversial Western High Speed Diameter (WHSD) highway in Saint Petersburg, which is expected to be co-financed by several international development banks. The result of the tender - in which Deripaska's consortium was the only remaining bidder - raises questions about the transparency of the bidding competition as well as the acceptability of using development finance to support a multi-billionaire.

[Press release] Groups oppose World Bank 'climate funds'

(June 5, 2008)

More than 121 groups released today a statement opposing the World Bank's proposed 'Climate Investment Funds' to address climate change and its impacts. The statement was released during the United Nations climate change talks in Bonn, Germany and coincided with a US Congressional Hearing on the Clean Technology Fund.

[Press release] Life begins at 50 for European Investment Bank, hopes civil society

(June 3, 2008)

Environment and social campaign groups from across Europe today marked the 50th anniversary celebrations of the European Investment Bank (EIB) by pointing out to the European Union's house bank that “Life begins at 50—We hope.” The EIB has attracted sustained criticism from civil society organisations in Europe and across the world because of its non-transparent institutional nature, its lack of binding environmental and social standards—especially in its increasing lending activities in Africa, Asia and Latin America—and its continuing support for major fossil fuel extraction projects that undermine the bank's recent improved record in funding renewable energy projects.

[Press release] Incinerators the wrong priority for EIB waste lending, finds new report

(May 30, 2008)

Instead of backing much-needed waste prevention and recycling projects, the waste sector investments made by the European Investment Bank (EIB) - the EU's house bank - are largely supporting the highly controversial incinerator industry, according to a new report released today by CEE Bankwatch Network. Sixty-eight percent of the EIB's lending to the waste sector over the 2000-2006 period went to incinerator projects, according to findings contained in "Fuelling the Fire: European Investment Bank financing for the incineration industry".

[Press release] EBRD will not finance Kaniv pumped storage plant

(May 20, 2008)

The European Bank for Reconstruction and Development (EBRD) is not considering financing for the controversial Kaniv pumped storage plant (PSP) project in Ukraine. This was declared by the bank's staff during the EBRD's Annual Meeting this weekend in Kyiv.

National Ecological Centre of Ukraine (NECU), Bankwatch's member group in Ukraine, has been emphasising to the EBRD for the last 18 months the dramatic environmental and social threats that this project would bring should it proceed. NECU has also argued that an energy project such as Kaniv PSP is of no use for the very energy intensive energy sector of Ukraine. Cost estimates for Kaniv PSP are rising and are currently expected to total about EUR 1 billion. The EBRD had been approached by the project sponsor for a loan of EUR 250 million.

[Press release] Mittal misery: Time for EBRD to end public subsidies for steel giant

(May 19, 2008)

Campaigners attending the EBRD's annual meeting are joining with other groups from around the world in calling for the EBRD and other public lenders to stop providing soft loans for Arcelor Mittal, the global steel giant that has benefited from more than USD 600 million in taxpayer-backed loans in the last ten years. The purpose of these loans - also involving the International Finance Corporation (IFC), the World Bank's private arm - has varied but several have aimed at least partly to improve energy efficiency, reducing pollution or improving health and safety standards. Whether public funding support should be given to a company majority owned by the fourth richest person in the world remains open to serious question.

[Press release] Dead workers, stinking pollution and forced evictions: New report highlights ArcelorMittal's global trail of destruction

(May 13, 2008)

A newly-formed coalition of environmental and community groups - Global Action on ArcelorMittal - today released a report showing how local residents and workers around the world pay the price of ArcelorMittal's success.

The report - 'In the wake of ArcelorMittal - the global steel giant's local impacts' - was launched at a press conference in Luxembourg to coincide with the company's annual shareholder meeting. It contains nine case studies detailing ArcelorMittal's legacy of pollution, environmental damage, health impacts and poor worker safety.

[Press release] Three activists released pending trial for protesting against controversial oil terminal construction in Vlora

(April 14, 2008)

The district court in Vlora, Albania last week released three members of the Civic Alliance for the Protection of Vlora Bay who were arrested and detained for two weeks after protesting against the construction of a hydrocarbons terminal in Vlora. The terminal, regarded by the protestors as bringing few benefits to the local economy in exchange for high environmental risks, is being built by the Italian investor La Petrolifera Italo Rumena. The project is currently seeking a EUR 15 million credit from the European Bank for Reconstruction and Development (EBRD).

[Press release] EU house bank's penchant for dodgy deals in Africa must end, demand campaigners

(March 13, 2008)

The European Investment Bank (EIB) announced last week that it would endorse and support the Extractive Industries Transparency Initiative (EITI). The EIB, which has invested over EUR 700 million in large scale mining projects in Africa since 2000, stated that it is 'committed to promoting good transparency and governance in all the projects it finances'.

While campaign groups welcomed the EIB's support for EITI, they emphasised the major contradiction between the development and transparency ideals in the initiative and the realities of the EIB's lending practices. In particular, NGOs pointed to the recent controversial EIB loan for a major mining project in the Democratic Republic of Congo (DRC), a project notorious for the lack of transparency and the alleged corruption surrounding it.

[Press release] Waste incinerator plans up in smoke in Hungary, campaigners call for EU funds for recycling

(March 11, 2008)

Environmental campaigners in Hungary are celebrating the axing of a EUR 100 million waste incinerator in the eastern Hungarian town of Hajduboszormeny. Following strong opposition from local people and environmental groups to the proposed 150,000 tonne incinerator, in a statement last week the project promoter Thermic Energy Invest Ltd cited environmental and public pressure reasons for pulling the plug on the project.

The Hajduboszormeny incinerator project was one of 50 controversial projects highlighted by CEE Bankwatch Network and Friends of the Earth Europe in a recently launched map that details projects in line for financial support from the EU funds and the European Investment Bank (EIB).

[Press release] EIB prepared to dig deeper into troubled Ethiopian dam project warns new report

(February 28, 2008)

Serious question marks over the ongoing involvement of the European Investment Bank (EIB) in a hugely controversial Ethiopian dam complex have been raised by a report released today by Counter Balance, a newly formed coalition of European NGOs focusing on the EIB's activities in developing countries.

While the World Bank has publicly pulled out of funding for the USD 1.7 billion Gilgel Gibe III dam – currently Ethiopia’s largest planned infrastructure project – because of criminal proceedings in Italy hanging over the related Gilgel Gibe II dam, the EIB is eyeing a further multi-million euro loan for Gilgel Gibe III. The EIB previously loaned EUR 50 million for Gilgel Gibe II, being constructed by the Italian construction major Salini. Salini is also promoting Gilgel Gibe III alongside the Ethiopian government.

[Press release] Billions for major new energy projects in the Balkans but why not a penny for renewables?- demand NGOs

(February 26, 2008)

Eighteen non-governmental organisations from across South East Europe (SEE) have today joined forces to demand the withdrawal of political support for a rash of environmentally and economically destructive power plants planned for the region. In a letter to key decision-makers, the groups lay out their case against a December 2007 decision by SEE energy ministers that prioritises 19 major electricity generation projects. With an overall price tag of at least EUR 8.3 billion, none of these projects involve renewable energy and several are already subject to strong civil society opposition.

[Press release] EU funds for fifty harmful projects: NGOs announce 'RegioScars' - the three most ill-conceived projects in CEE countries

(February 25, 2008)

A new map with details of 50 environmentally damaging and economically dubious infrastructure projects in Central and Eastern Europe was launched by CEE Bankwatch Network and Friends of the Earth Europe in Brussels today. Based on the most extensive investigation to date, the map entitled 'Cohesion or Collision?' shows controversial projects with a total cost of EUR 22 billion. The projects are either already financed, or planned to be financed, by EU structural and cohesion funds and/or the European Investment Bank (EIB).

[Press release] EU Ombudsman says NGOs can help EU institutions do their job better, Bankwatch agrees!

(January 24, 2008)

CEE Bankwatch Network has warmly welcomed public comments today from the European Ombudsman, P. Nikiforos Diamandouros, praising the vital role played by NGOs in pointing out instances of maladministration in the EU institutions.

Among the successful NGO cases cited in the press release from the Ombudsman’s office is one involving Polish Green Network, a Bankwatch member group in Poland. Along with The Society for the Earth, in summer 2006 the group lodged a complaint to the Ombudsman concerning the financing from the European Investment Bank (EIB) in 2001 for flood reconstruction and repair works in Polish rivers. The Ombudsman’s recent verdict was critical of the EIB in its failure to comply with the Environmental Impact Assessment (EIA) Directive.

[Press release] Kazakhstan loses USD 5 bn from oil deal as more delays emerge – new analysis Oil companies accused of 'hiding bad news' over Kashagan oilfield

(January 22, 2008)

A new deal with an Eni-led consortium to develop the super-giant Kashagan oilfield will leave Kazakhstan $5 billion worse off than previously, according to new analysis published today. The deal, reached on Sunday after more than six months of dispute over the field, slightly improved Kazakhstan’s share of revenues, but at the same time included an announcement of a further delay to startup of production, from 2010 to 2011. The analysis released today shows that the improved terms – worth around $3.5 billion – is more than offset by the $8.7 billion cost to Kazakhstan of the delay.

[Press release] Protestors pay homage to "Vlad the Nuclear" in Sofia as Belene nuke costs soar, and two further reactors are mooted

(January 18, 2008)

Protests took place today in Sofia against Russia’s president Vladimir Putin, visiting Bulgaria to sign energy contracts for the earthquake zone-located Belene nuclear power plant (NPP) on the Danube and the planned Bourgas-Alexandrupolis (B-A) pipeline to carry Russian oil via the Bulgarian Black Sea port of Bourgas and Greece's Alexandroupolis on the Aegean.

[Press release] World Bank pulls out of dubious energy intensive project in Ukraine

(January 15, 2008)

CEE Bankwatch Network today welcomed the World Bank’s decision not to pursue a USD 250 million loan for the completion of the first phase of the controversial Dniester Hydropower Pumped Storage Plant (PSP) project in Ukraine. In tandem with strong local opposition to the project, the National Ecological Centre of Ukraine (NECU), Bankwatch’s member group, has spearheaded a campaign which has drawn attention to a wide range of environmental, social and economic risks attached to the project.

[Press release] Seven more Kazakh Mittal mine deaths in spite of EBRD millions for safety measures

(January 11, 2008)

A methane blast today at the Arcelor Mittal-owned Abaiskaya coal mine in the Karaganda region in Central Kazakhstan.has left seven miners dead and nine seriously injured, with 17 still missing. In terms of fatalities it is the worst mining disaster at the Mittal mines in Karaganda since the September 2006 accident at the Lenin mine that caused 41 deaths. Mittal has operated in Kazakhstan since 1995, and since 1997 has received over USD 200 million in credits from the World Bank’s private arm the International Finance Corporation (IFC) and the European Bank for Reconstruction and Development (EBRD). The public lenders maintain that their support has helped to raise the company’s health, safety and environmental standards to western levels. However a series of fatal accidents in Karaganda mines have cast strong doubts on how effectively the steel giant Arcelor Mittal is using this public money.

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