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
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.
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
The leading Ukrainian agribusiness giant has been enjoying generous support in public funds and national subsidies. With over half a billion euros from the EBRD, EIB and the IFC, Myronivsky Hliboproduct PJSC (MHP) has grown into a near monopolist in poultry production. While MHP’s vertically integrated model has contributed to its status as a leading Ukrainian agribusiness, the scale and nature of its business have also contributed to mounting concerns about its social and environmental impacts. These concerns are compounded by patterns of poor community consultation and a lack of information provided about MHP’s operations, leaving project-affected people guessing about the true impacts of its operations.
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.
Blog entry | 11 May, 2018
During the annual meetings of the European Bank for Reconstruction and Development, the bank is the subject of a complaint for policy violations via a EUR 200 million loan to Serbia’s state-owned energy utility: money earmarked to prepare the fossil fuels-based company for the realities of adhering to stricter EU legislation will instead enable it to extract and burn even more fossil fuels.
Blog entry | 21 December, 2017
A visit to six mountain rivers and nine small dams in Macedonia exposed similar problems with many of them.
Press release | 20 December, 2017
Eight hydropower projects in Albania, Croatia and Macedonia financed with European public money have damaged biodiversity and are in urgent need of increased monitoring and restoration measures.
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.
Stuck in the market? 25 years since the fall of the Berlin Wall: what now for the EBRD?
Study | May 14, 2014
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.