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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
Free-flowing rivers in Central Asia
Central Asian rivers are under threat from hundreds of new hydropower plants. We have created a map of the key rivers in the region that need urgent protection and are calling on the development banks to stop their destruction.
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LATEST UPDATES
Kambarata hydropower project: greater scrutiny from international banks is needed
Kyrgyzstan is promoting the massive 1,860 MW Kambarata-1 Hydropower Plant (HPP) as a solution to its ongoing energy crisis. The project, a joint effort with Uzbekistan and Kazakhstan on Naryn River, is actively seeking funding from international financial institutions like the World Bank, the European Bank for Reconstruction and Development (EBRD) and the European Investment Bank (EIB).
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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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Emerald Network in the Western Balkans
Albania, Bosnia and Herzegovina, Montenegro, North Macedonia, and Serbia are required to establish a sufficient number of Emerald Network sites as signatories to the Bern Convention. However, since 2011, not a single new site has been proposed and many stunning rivers remain unprotected. The #EmeraldForRivers campaign aims to support governments in expanding the Emerald Network.
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EU climate fund commits over half a billion to fossil gas expansion
Several fossil gas and waste incinerator projects eyed by EU Member States have rightly been excluded from the latest Modernisation Fund investment round. But gas-fired power plant projects in Czechia and Bulgaria have secured a total of EUR 630 million in future financing.
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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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Turnu Măgurele – Nikopol Hydraulic Structures Assembly on the Danube river, Romania and Bulgaria
The project, if built, would not only devastate critical habitats, leading to the potential extinction of species such as the Danube sturgeons, but also displace local communities, disrupt existing investments, and violate several EU environmental directives.
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The ‘do no significant harm’ principle revisited – lessons from Poland for the next EU budget
The ‘do no significant harm’ (DNSH) principle is supposed to prevent EU funds from being invested in projects that harm the environment and undermine climate action. Though the principle is meant to increase awareness of the importance of environmental aspects in EU-funded projects, weak and incoherent implementation has hampered its effectiveness across the EU. Lessons learnt in Poland, the largest beneficiary of EU funds, can help improve the application of the ‘do no significant harm’ principle in the next EU long-term budget.
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