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INSTITUTIONS WE MONITOR
European Bank for Reconstruction and Development (EBRD)
Established to promote transition to market-oriented economies in the countries of central and eastern Europe and Central Asia, the EBRD’s lending often fails to benefit the people in these countries and regularly prioritises carbon-intensive and environmentally damaging development.
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OUR PROJECTS
Upper Horizons hydropower scheme, Bosnia and Herzegovina
A series of dams, diversion tunnels, hydropower plants and channels will completely change the natural hydrology of eastern Herzegovina and have unpredictable impacts on wetlands, rivers and underground karst.
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LATEST UPDATES
EBRD approves EUR 98.6 loan for disputed fossil gas mega pipeline in North Macedonia
The European Bank for Reconstruction and Development (EBRD) yesterday approved a EUR 98.6 million loan for a fossil gas pipeline that would allow North Macedonia to increase its gas consumption by three to six times compared to 2021, its highest-consuming year so far. (1)
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European Investment Bank (EIB)
With a lending portfolio of EUR 72 billion (2010) the European Investment Bank (EIB) is one of the world’s biggest public lending institution – bigger even than the World Bank.
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Ulog and Upper Neretva hydropower plants, Bosnia and Herzegovina
A 35 MW hydropower plant is currently under construction on a pristine section of the Neretva river at Ulog. Seven more plants are also planned further upstream.
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Latvia considers a risky nuclear energy development path
Latvia already has a relatively high level of renewable energy production and, with many new wind and solar energy projects on the way, the country is not far from providing all the energy needed for its local consumption in annual terms. The greatest challenge remains ensuring a stable, balanced energy system. However, instead of planning for a 100 per cent renewables-based energy mix, the government has sparked a controversy by considering nuclear energy, a costly solution that would delay the transition.
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A new budget for a new Europe
For the European Union and its Member States to become more sustainable societies, the EU’s financial resources have to be spent towards consuming less energy and using resources more efficiently.
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Skavica hydropower plant, Albania
Instead of increasing its energy security, Albania is pushing the construction of yet more hydropower. The Skavica project may flood several villages, displace thousands of people and bring the Balkan lynx to extinction
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Bern Convention: Skavica dam in Albania contradicts the Balkan Lynx Recovery Programme
The Bureau of the Convention recently accepted a new complaint and urged the Albanian authorities to not develop projects which may negatively affect habitats and species.
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