Updates on the European Bank for Reconstruction and Development

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

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.

Odessa High Voltage Grid Upgrade, Ukraine – EBRD AGM Issue Paper

In December 2005 the European Bank for Reconstruction and Development (EBRD) approved a EUR 25.8 million loan for the Odessa High Voltage Grid Upgrade project for the state-owned company Ukrenergo. The project, that foresaw construction of a 124 kilometre long 330 kV transmission line between the Adjalyk and Usatove substations in the Odessa region and modernisation of the substations, was Ukrenergos first experience with the international financial institutions, and inaugurated a series of further such investments.

What we still have to learn about Nabucco – EBRD AGM Issue Paper

Although the Nabucco gas pipeline is still nothing more than an idea on the drawing board it has attracted unprecedented political support and managed to swallow millions of euros of EU taxpayer’s money without an assessment of its effect on transit and gas supplying countries. CEE Bankwatch network urges the EBRD to properly assess all impacts it may have on societies and the environment and to consider financing alternative ways to ensure energy security, namely by energy efficiency measures.

One Gazela, two Gazelas, three Gazelas… – EBRD AGM Issue Paper on the Gazela resettlement

The removal and resettlement of the informal Gazela settlement from beneath the Gazela Bridge on highway Corridor X over the Sava River in Belgrade’s downtown took place in August 2009. Despite the involvement of international financial institutions (the European Bank for Reconstruction and Development and the European Investment Bank) and foreign development agencies (the European Agency for Reconstruction and the UK Department for International Development), the resettlement has not brought satisfactory results.

Financial intermediaries: Do economic, environmental and social benefits lie behind the big numbers? – EBRD AGM Issue Paper

In order to prevent the collapse of the banking sector in central and eastern Europe following the outbreak of economic crisis conditions in autumn 2008, the European Bank for Reconstruction and Development (EBRD) has provided a large number of loans to private banks in the region. Yet even though this form of lending is taking on ever greater importance at the EBRD, next to no concrete details about what it is achieving and who is benefiting from it exist for the public.