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"To the best of our knowledge": How to improve the transparency and accountability of intermediated EBRD investments in three steps

Disbursing public money via private-sector controlled financial intermediaries (FIs) is a means to an end: reaching a larger set of smaller beneficiaries. It has its strong rationale, in particular when it comes to renewable energy projects that, in contrast to traditional energy projects, tend to be smaller in size and dispersed over larger areas. Nevertheless, these financial means must not contravene the ends that multilaterals such as the EBRD have in their mandate or the standards prescribed by their policies.

Who really benefits from Georgia's Nenskra hydropower plant?

Today the Asian Development Bank started its annual meeting and one of the projects that we will be discussing with the bank’s management and Board of Directors is a loan for the 280 megawatt Nenskra hydropower plant in the Svaneti region of Georgia. The ADB is planning to provide a loan of USD 176.70 million and a Political Risk Guarantee over USD 100.00 million for Nenskra, with a total cost of the project of USD 930 million.


EU watchdog investigating European Investment Bank for maladministration

The European Investment Bank (EIB) is being investigated for maladministration, after the European Ombudsman sent a formal letter opening the case this week (27 February 2017).

Lack of transparency hindering Czech export agency

Although not an institution that typically receives much fanfare, the export credit agency (ECA) in the Czech Republic has a poor track record worthy of more scrutiny.


The Bratislava bypass - a public-private partnership to get around traffic problems and debt statistics

In this report, Bankwatch and Counter Balance trace the murky story of the Bratislava bypass, a EUR 1.76 billion project supported by the Slovak government and promoted as the biggest project in central eastern Europe that was guaranteed through the European Fund for Strategic Investments (EFSI).

Going abroad - a critique of the European Investment Bank's External Lending Mandate

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This report analyses how and if the European Investment Bank (EIB) is fulfilling its development role under the so-called External Lending Mandate (ELM) for the period 2014-2020. It sheds light on the more questionable quality and effectiveness of EIB operations and on the neglected areas of the bank’s performance outside Europe, such as transparency and access to information practices, its attitude towardstax evasion and tax dodging, human rights due diligence.

The EU bank's dubious overseas development experience shows it cannot be a key player in Europe's response to the plight of refugees - report

The EIB is increasingly given a prominent role in the EU’s response to the so-called refugee crisis stretching the bank’s operations well beyond its current mandate for overseas investments. Yet, a new report by Counter Balance and CEE Bankwatch Network takes a closer look at projects the EU’s house bank has been financing outside Europe to find a dismal track record on a range of issues from transparency to human rights. This, the report authors say, should serve as a warning sign for the European Parliament and Council as they consider boosting the bank’s mandate.

Here be dragons: How the EU bank's development finance overlooks people at risk

The European Investment Bank’s failure in safeguarding the most vulnerable groups in its projects shows it is ill-equipped to help refugees and host communities in the European Union’s neighbourhood. A new report explains the bank’s weaknesses in identifying and responding to human rights risks.


Azerbaijan's crackdown on civil society must not be tolerated, international NGOs tell industry transparency body

The Azerbaijani government’s relentless repression of civil society should disqualify the country from participating in the Extractive Industries Transparency Initiative (EITI), 18 international groups wrote in a letter sent on Thursday (October 20) to members of the EITI board.

Transparency: Much stays hidden

Source: Ann Crotty, Financial Mail

An initiative aimed at increasing the transparency of mining companies’ payments to governments across the globe has been slammed as paternalistic and ineffective by representatives of the people it was claimed to help.

The extractive industries transparency initiative (EITI) was first announced by then UK prime minister Tony Blair at the world summit on sustainable development in Johannesburg in 2002. It was launched a year later, at a time when the entire developed world, led by Blair and pop stars Bono and Bob Geldof, seemed determined to save Africa from itself.

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