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.
Alternative news on the EBRD
Harsh economic realities and the discernible trend of democratic retrenchment in EBRD recipient countries suggest there are serious deficiencies in the bank’s overall ‘market-oriented’ approach.
EBRD PROJECTS WE MONITOR
Boskov Most was one of 18 hydropower greenfield projects planned by the North Macedonian government in the Mavrovo National Park. After five years of campaigning, we convinced the European Bank for Reconstruction and Development about the folly of this project and to cancel its EUR 65 million loan. Without its major source of funding, the project lost steam and was discontinued.
Loopholes in the EBRD’s due diligence, together with a lack of assessment and monitoring by Macedonia’s local and central government, has proven to be a lethal combination for the country’s rivers. A prime example is the Krapska Reka small hydropower project. The authorities’ failure to recognise the location as part of the proposed Jakupica National Park, Emerald area and a future Natura 2000 site, on top of poor mitigation measures and construction practices, have caused irreversible damage to this small river valley.
Press release | 17 October, 2019
At a time when public calls for tackling the causes of the climate crisis are growing, Romania’s gas industry has been expanding, courtesy of the Parliament and international financial institutions.
Blog entry | 29 July, 2019
The preparation of the Skopje Green City needs to be transparent and to include citizens and civil society in a meaningful way from the early stages of planning.
Blog entry | 22 July, 2019
The Serbian Ministry of Environment recently published the environmental assessment for the planned Vinča waste incinerator for public consultation. But the study shows no sign that the new plant would be in line with new EU pollution control standards approved in June.
Strong safeguard policies to guide bank lending are essential. At the EBRD meetings we are pushing for these types of reforms based on our collected experience with bank projects across the region.
Too often the EBRD safeguard policies fail to deliver protection for people, climate and the environment. What can be done?
Bankwatch produced this video for the 20th anniversary of EBRD operations, at a time when the bank announced intentions to extend its operational activities to north Africa.
Toolkit for civil society
Guidance on how to use the EBRD’s grievance mechanism for civil society, local groups and individuals that are adversely affected by a bank project.