Established in 2015 as one of the financing arms of China’s Belt and Road Initiative, the Beijing-based AIIB aims to boost infrastructure connectivity in Asia and beyond. The newest International Financial Institution pledges to be “lean, clean, and green,” although plunging into controversial mega fossil fuel and hydro projects at the very start. With its operations in the third year, lingering concerns about its minimum oversight and transparency practices remain.
Alternative news on the AIIB
We expose the risks of international public finance and bring critical updates from the ground.
We believe that the billions of public money should work for people and the environment.
AIIB PROJECTS WE MONITOR
This system of mega-pipelines meant to bring gas from Azerbaijan to Europe, is unnecessary for Europe’s declining gas demand. But the billions in public investments will boost Azerbaijan’s dictatorial regime and cause upheaval for transit communities in Turkey, Greece, Albania and Italy.
The Nenskra dam is the most advanced of Georgia’s massive plans for hydropower installations in the Upper Svaneti region. It will deprive the local community, ethnic Svans, of lands and livelihoods, but potential negative impacts have not been properly assessed.
Blog entry | 14 November, 2018
Successive international analyses have cast serious doubts over the financial viability of the planned Nenskra plant. While the Georgian government keeps the project’s contract confidential, a leaked World Bank report offers a scathing account of the fiscal implications of this hydropower development.
Blog entry | 30 October, 2018
Already mired by controversy, the billion dollar Nenskra hydropower plant is now facing another major hurdle as the company contracted to realize the project is now leaving it.
Blog entry | 31 July, 2018
From the outside, this tragedy might seem like a natural disaster, a force majeure. But one cannot ignore the human factors at play.