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.
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EBRD PROJECTS WE MONITOR
Boskov most hydropower plant, North Macedonia
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.
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Krapska Reka small hydropower plant, Macedonia
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.
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Dabrova Dolina hydropower plant, Croatia
A harmless-sounding mill conversion project on Croatia’s stunning river Mrežnica is a textbook example of how even small hydropower plants can damage protected areas. It also exemplifies the lack of transparency and oversight of investments that the European Bank for Reconstruction and Development channelled through commercial bank intermediaries.
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LATEST UPDATES
In Georgia, leaked contract shows Nenskra hydropower project to cost country USD 60 million a year
Press release | 10 June, 2019For immediate release. Prague, Tbilisi – A leaked contract between the Georgian government and the company behind the Nenskra hydropower project includes terms that indicate the project will incur massive losses for the state, according to a report broadcast on 8 June by the national television station Rustavi 2 [1].
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Bulgarian villagers call on the EBRD to ensure fair resettlement by coal company it finances
Press release | 29 May, 2019Beli Bryag, Bulgaria – Around one hundred villagers in the village of Beli Bryag, in Bulgaria’s Stara Zagora region, are anxiously awaiting for a resolution to their claims of proper resettlement by the Maritsa East mines, the company gearing up to expand its lignite mine to where the village currently stands. They have only until the end of the year before they are expropriated. [1]
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EBRD tightens standards in response to Balkan hydropower boom
Blog entry | 16 May, 2019As a result of public resistance to small-scale hydropower projects in the Balkans, from the beginning of 2020, the EBRD will ask commercial banks to refer all high-risk projects – including all hydropower plants – for additional checks. The EBRD also requires them to meet higher environmental standards than previously. The bank will ask that such projects are disclosed to the public on the financial intermediary’s website, finally increasing disclosure on these hitherto hidden projects.
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LATEST PUBLICATION
This report is a critical analysis, with regard to the impacts on biodiversity, of the Environmental and Social Impact Assessment (ESIA) of the Amulsar Gold Project. Special attention has been paid to the biodiversity offsetting proposal for creation o
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Our critique of the EBRD
After more than two decades of promoting market economies in post-Soviet countries, the EBRD has a poor track record of keeping up with its mission to protect human rights and the environment and promote sustainable development.
For the 25th anniversary of the fall of the Berlin wall we collected examples of EBRD operations to illustrate just how the bank’s activities are often not worth celebrating – at least not for the affected people and environment.
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.
