Themes we work on

We challenge international financial institutions not to finance environmentally and socially harmful investments.

We call for public money being spent on climate-friendly development that is not driven by economic growth per se but by benefits to society and the environment in economically sustainable ways.

Themes we cover in our work:

Energy and climate >>

Transport >>

Resource efficiency and waste management >>

Social and economic impacts >>

See below a list of projects monitored by Bankwatch that receive or may receive international public finance.

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Kumtor Gold Mine, Kyrgyzstan

The Kumtor open pit gold mine is located in a majestic surrounding in the Kyrgyzstan mountains. It receives continued support by the European Bank for Reconstruction and Development, despite several accidents in the past and ongoing environmental damages from the mining operations.

EBRD

World Bank Group

Social & economic impacts

Other harmful projects

Mining

The 'Second Backbone Corridor' - High voltage electricity transmission lines, Ukraine

In its drive for 'energy security', the EU is looking to its eastern neighbour for cheap energy. But using a series of high-voltage transmission lines to import dirty energy supplies like nuclear and coal power from Ukraine will not make the EU safer, and it will lock both into an unstable and environmentally unsound energy mix.

EBRD

EIB

Energy & climate

ArcelorMittal Kryvyi Rih, Ukraine

ArcelorMittal's enormous steel mill in southern Ukraine received a loan from the European Bank for Reconstruction and Development (EBRD) in 2006 that helped the company increase productivity and expand its market position but didn't do much to address the pollution caused by the mill.

EBRD

Energy & climate

Social & economic impacts

Mining

Steel giant ArcelorMittal

ArcelorMittal is the largest steel company in the world, producing approximately 8 per cent of the world’s steel output. But the cost of its success has largely been paid by the people living and working near the company’s plants, because of the ArcelorMittal's frequent disregard for the environment and fair labour practices.

EBRD

EIB

Energy & climate

Social & economic impacts

Other harmful projects

Saaremaa bridge, Estonia

Saaremaa is the biggest Estonian island (40,000 inhabitants) and an important recreation destination with some 250,000 visitors per year. Famous for its picturesque landscapes, the island's vulnerable ecosystems are in danger of being sacrificed for an expensive bridge construction.

EU Funds

Transport

Via Baltica and Via Carpatia expressways, Poland

Expressway developments in north-east Poland could have devastating ramifications on the Knyszyn and Augustow Primeval Forests and the Biebrza Marshes - areas of extraordinary beauty that are home to unique wildelife.

EU Funds

Transport

Corridor Vc motorway, Bosnia and Herzegovina

The Bosnian section of the international Corridor Vc is planned to run for 330 km through Bosnia and Herzegovina. Concerns about environmental impacts and threats to cultural heritage were raised by local people and cultural figures. The public discussions about the project have led to a series of scandals and a deadlock of the motorway's development.

EBRD

EIB

Transport

Other harmful projects

Moscow - St.Petersburg motorway PPP, Russian Federation

The 43-km section of the Moscow - St. Petersburg motorway near Moscow has triggered massive opposition in Russia and abroad. The section is slated to pass through Khimki Forest Park, a protected natural area with rich wildlife and of great importance to local people living in this polluted and densely populated region.

EBRD

EIB

Transport

Gazela Bridge rehabilitation, Belgrade, Serbia

The resettlement of about 170 predominantly Roma families that lived below the Gazela Bridge in Belgrade, Serbia is part of a wider project for the reconstruction of a bridge across the River Sava. Although the project is backed by European public money, donor requirements to follow World Bank Group resettlement standards have for a long time been ignored by Belgrade City Council.

EBRD

EIB

Social & economic impacts

Chelopech cyanide gold project, Bulgaria

The Chelopech cyanide mining project was proposed by the Canadian company Dundee Precious Metals (DPM) and its Bulgarian branch Chelopech Mining. It would have expanded metal extraction in the Chelopech gold and copper mine in Central Bulgaria through the introduction of cyanide leaching.

EBRD

Social & economic impacts

Other harmful projects