Letter to EBRD and EIB: Will a loan to ENEA free up assets for a coal fired power plant in Poland?

The EBRD and the EIB are considering a loan of up to PLN 800 million to the Polish electricity utility ENEA to support a PLN 3.2 billion investment programme of the company's distribution network. Bankwatch's letter enquires what conditions will be placed on an EBRD loan to ENEA to make sure that the loan does not free the company's assets that it needs to invest in the Kozienice coal-fired unit number 11 in Poland.

A similar letter was sent to both the European Bank for Reconstruction and Development (pdf) and the European Investment Bank (pdf).

Both banks replied to our letter. Download their responses below:
EIB response from March 30, 2012 (pdf)
EBRD response from April 13, 2012 (pdf)