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.
Campaign update | 29 June, 2018
The Asian Infrastracture Investment Bank is considering a non-sovereign loan of USD 100 million for a 280 MW reservoir-type hydropower plant, located in the Nenskra and Nakra valleys of Northwest Georgia. We would like to provide information about new developments that the AIIB should consider as part of its due dillgence on the project.
Blog entry | 4 December, 2017
New information reveals the disproportionate price that Georgia’s government guarantees to pay for electricity from the Nenskra dam. The increasingly unfavourable economics strengthen calls to finally make the project’s contract publicly available.
Blog entry | 15 November, 2017
Europe’s wildlife guardian has sent a warning to Georgia over changes to a protected area in the Caucasus mountains. International lenders are interested in financing hydro developments in the region.