Updates on the European Bank for Reconstruction and Development

Sounding the potential of a European budget “for the people and the climate”

After six months of preparations and more than 50 interviews with decision makers and experts, Bankwatch has met with representatives from the European Commission, the European Parliament, the European Investment Bank and the European Bank for Reconstruction and Development to discuss how the next EU budget for the 2014-2020 period can effectively support a low-carbon economy with benefits for people and nature.

Funding instruments for energy efficiency and renewable resources – Basis for round table discussion

Bankwatch coordinators in Bulgaria, the Czech Republic, Latvia and Poland have interviewed energy and financial experts from national ministries and other institutions. This paper is a summary of their findings.

Letter to EBRD president Thomas Mirow following up on issues raised during the bank’s annual meeting

President Thomas Mirow responded to our letter on July 12, 2010. His response can be downloaded as pdf.

Bankwatch Mail 45

In this issue: Commission seeking to boost EIB development lending despite failures and lack of details * EU Budget review missing in action * Developments in development lending – what Lisbon means for EIB lending outside Europe * A non-meeting of minds once again at the EIB’s annual meeting * EU Funds: More light equals fewer shades of grey * Fossil farce a cure for Greek tragedy?

Complaint on D1 motorway Phase I, Slovak Republic seeking project compliance review

We are particularly concerned about the inadequate appraisal of environmental risks connected with the Turany – Hubova section of the D1 motorway in Slovakia, the damage so far and further potential impacts on the Natura 2000 sites and habitats of Community importance. We are convinced that the underestimation of environmental risks has led to insufficient mitigation measures resulting in a recent damage to a nature reserve by preparatory construction works.

Bankwatch Mail 44

In this issue: EBRD own goal on coal will under-mine clean energy ambitions * Croatia: land of sun, sea and contradictory strategies * Sustainable energy mischief in Ukraine * Mining’s winners and losers on show in new film * Hopes and more fears in Central Asia * More sustainable development pipedreams? BTC shows how not to do Nabucco * Post-conflict aid to Georgia: mission accomplished or fait accompli?

Letter to EIB on the D1 motorway project outlining developments since the Complaints Offices Conclusion Report in November 13, 2009

South Ukraine Transmission Project – EBRD AGM Issue Paper

The European Bank for Reconstruction and Development (EBRD) is considering lending EUR 175 million to the National Energy Company of Ukraine, Ukrenergo, for implementing the South Ukraine Transmission Project. An equal amount of financing was approved by the EIB in October 2009. The project foresees construction of a new 750 kV power transmission line, two 330kV double circuit diversions, and modernisation of an existing 330/220/110 kV substation.

Tbilisi Railway Bypass project – EBRD AGM Issue Paper

On March 9, 2010, a loan for the Tbilisi Railway Bypass Project, initiated by the Georgian Railway company, was approved by the EBRD. The main goal of this project, rated category A by the EBRD, is to construct a new section of railway that bypasses the central part of Tbilisi in order to avoid the transit of hazardous freight (such as oil and oil products) through the middle of the city. While this main goal is welcomed, there are several strong concerns that undermine the project goals and may cause a serious threat to Tbilisis population.

Furshet Group labour conditions research, Ukraine – EBRD AGM Issue Paper

In 2007 the European Bank for Reconstruction and Development (EBRD) provided a USD 90 million loan to the second largest supermarket operator in Ukraine – the Furshet Group – for the regional expansion of its chain in Ukraine and Moldova. The aim of a research commissioned by Bankwatch was to examine labour/gender conditions at supermarkets regarding employee rights and discrimination at work, resulting in recommendations how Furshet and the EBRD can improve the employees’ situation.