Updates on the European Bank for Reconstruction and Development

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.

Civil society statement on energy access and public financing of fossil fuels

The statement, signed by 48 civil society organisations calls on international financial institutions to stop using public resources to subsidize the fossil fuel industry. These subsidies fuel overconsumption in wealthy countries, benefit an already highly profitable and well-established industry, and exacerbate many of the most urgent problems facing humanity today, not the least of which is climate change.

Letter to EBRD regarding the Sava river crossing, a new resettlement project in Serbia

Read more on the communities at the Sava river crossing also on our blog

Letter to EBRD president Thomas Mirow regarding the loan approval for the D1 motorway Phase 1, Slovakia

Bankwatch Mail 43

In this issue: Wise up! European Development Bank red herring masks critique of EIB’s external operations * The case for cyanide in Bulgaria’s gold mines kicked out * Lost in transition * New EU funds report and website * EU funds sinking in Latvia’s enduring crisis swamp * Charge of the electricity brigade against villagers in Ukraine * Will the World Bank be rewarded for business as usual or put to the test to stop climate-damaging development? * Belene in and out of the grip of Russia * IFI

Over the edge. Enel’s plans to export its pollution to Porto Romano, Albania

The Italian energy giant Enel is planning to construct a coal-fired thermal power plant consisting of two 800 MW units at Porto Romano near the city of Durres in Albania. If constructed this would be the largest investment in the history of the Albanian energy industry. Eighty five percent of the electricity produced would be exported to Italy.

Kazakhstan civil society letter to EIB requesting disclosure of information on the EIB’s Framework Agreement with Kazakhstan

The EIB responded to our letter on May 19, 2010. Their response can be downloaded as pdf.

Bankwatch comments on the draft EBRD Agribusiness Strategy

Bankwatch is pleased to see the EBRD giving additional attention to several environmental aspects of its agribusiness operations, but believes that promoting a model based on excessive food transportation and monocultural production is ultimately unsustainable. Additional attention also needs to be paid to the employment and gender impacts of projects.