Asian Development Bank (ADB)
The Asian Development Bank (ADB) was founded in 1966 with the goal of eradicating poverty in the region. The Asian Development Bank started its operations in western Asia (the Caucasus region) and Central Asia in the 2000s and soon became one of the region’s leading investors. The Bank provides both sovereign and private sector loans in various areas, such as energy, environmental infrastructure, transport, urban development and agriculture.
Its major investment programme is Central Asia Regional Economic Cooperation (CAREC), which finances roads, railways and energy infrastructure to bring together countries such as Afghanistan, Azerbaijan, the People’s Republic of China, Georgia, Kazakhstan, the Kyrgyz Republic, Mongolia, Pakistan, Tajikistan, Turkmenistan and Uzbekistan and to ensure economic growth within the region.
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The ADB’s claims that it is resilient and sustainable are unjustified until it respects human rights and protects the environment and the livelihoods of the people in its countries of operation.
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Background
In 2018, the ADB invested more than USD 1.3 billion in the Southern Gas Corridor project, which was supposed to bring gas from Azerbaijan to Europe. But the billions in public investments will not only go towards a stranded asset, but will also boost Azerbaijan’s dictatorial regime and cause upheaval for communities the pipeline must cross in Turkey, Greece, Albania and Italy.
In 2021, the ADB, together with its counterpart multilateral development banks, committed to aligning its investments with the Paris Agreement, with a deadline for public sector projects to do so by 1 June 2023. However, although the Bank’s newly approved energy strategy (September 2021) does not support any natural gas exploration or drilling activities, it can still selectively support midstream and downstream natural gas projects.
The Bank’s public and private sector operations often negatively impact the region’s poorest and most vulnerable communities. The ADB is still not equipped or incentivised to effectively address social and environmental risks and the human rights implications of their operations. It lacks a rights-based safeguards policy that would ensure the protection of the human rights and the environment, engage meaningful public participation and remedy the risks of the project-affected communities.
ADB PROJECTS WE MONITOR
The Khada Valley, Georgia
The Khada Valley in Georgia brings together exceptional biodiversity, precious cultural and archeological heritage, and mountainous villages which have preserved rich traditions and historical lifestyles. But all of this might vanish if a 23-kilometer road from Georgia to Russia – the Kvesheti-Kobi project – is built.
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Shuakhevi hydropower plant, Georgia
Georgia’s biggest and one of the most controversial hydropower plants is mostly famous for its failures. Two months after becoming operational in 2017 its tunnels collapsed. And after two years of repairs water is leaking from the dam. Shuakhevi hydropower plant (HPP) once promised to bring energy independence to Georgia. Instead it managed to collect an impressive ‘portfolio’ of problems in a wide range of areas: from biodiversity, to gender impacts, to community relations.
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ARCHIVED: Southern Gas Corridor
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.
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LATEST UPDATES
Is this development? Public development banks must rethink their investments and put local communities first
Blog entry | 4 September, 2023On 4 to 6 September, the world’s public development banks will gather for the Finance in Common Summit in Cartagena, Colombia. They’ll be discussing key development issues – from climate change to infrastructure – issues that affect the lives of millions of people around the world. Bankwatch is on the ground to expose the adverse impacts of investments made by development banks and advocates for meaningful community participation in decision-making on development projects.
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Civil society calls on public development banks to overhaul their approach to development
Press release | 4 September, 2023As a member of the Coalition for Human Rights in Development, Bankwatch has joined civil society organisations and human rights defenders from over 20 countries in calling for immediate and effective action from public development banks.
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Tbilisi Transport Policy and Reforms: Main Issues and Recommendations
Publication | 22 August, 2023In 2018, Tbilisi authorities set out to decrease the city’s car dependency, reduce traffic jams, improve air quality and develop better infrastructure for walking and cycling. But despite investment from the EBRD and ADB, there has been little improvement.
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