Updates on the European Bank for Reconstruction and Development

Letter to EIB regarding a planned loan for ArcelorMittal

The letter by NGO coalition Global Action on Arcelor Mittal (GAAM), follows the discovery of EIB considerations of a loan for steel company ArcelorMittal and informs the EIB of ArcelorMittal’s extremely poor environmental, social and transparency record in many countries. As the worlds largest steel company ArcelorMittal could access financing from other sources, and there is no added value in providing a low-interest public loan to the company. GAAM and Bankwatch therefore urge the EIB not to approve any loan to ArcelorMittal in the foreseeable future.

Public consultations short-circuited for major Ukrainian power project, EBRD urged to stand up for communities and the environment

A major power transmission project in Ukraine that seeks a EUR 175 million loan from the European Bank for Reconstruction and Development (EBRD) to facilitate the export of electricity from Europe’s biggest nuclear power plant across protected nature sites in the south of Ukraine is violating the EBRD’s procedures on public consultations, according to Bankwatch member group National Ecological Centre of Ukraine (NECU).

Letter to EBRD regarding South Ukraine Transmission Project

The letter is drawing attention to a number of serious deficiencies surrounding the South Ukraine Transmission Project. The project is expected to be financed by both the EBRD and EIB, but the public consultations surrounding the project have been seriously tarnished. Construction of such transmission lines potentially affects the lives and everyday business of local people. Yet, as the document shows, their access to the project information is being restricted.

CEE Bankwatch Network input for the EBRD transport sector evaluation

CEE Bankwatch Network’s inputs into the EBRDs evaluation of its work in the transport sector – an important sector but one which is the fastest growing source of greenhouse gas emissions. As well as commenting on individual projects Bankwatch is calling on the EBRD to dramatically reduce investments in new motorways, restrict aviation investments to safety measures and air traffic management, and ensure that railway restructuring does not result in disincentives for its use such as higher prices. We are also concerned that the transition indicators used by the EBRD concentrate on

Bankwatch Mail 42

In this issue: Disclosure policy review – A glass of information half full or half empty? * Bank ‘panglosses’ over the facts with new Georgian partnership strategy * EBRD, EIB culpable of policy violations in resettling Belgrade Roma * Heat rising on international public lenders to come clean for the climate * ČEZ chez the EIB – It’s invite only to the black masque energy security fundraiser * IMF’s pro-cyclical brakes pile on the misery across central and eastern Europe * The silence of the scams no more

Complaint against the EIB regarding maladministration in the Gazela resettlement process

The complaint concerns the European Investment Banks failure to adhere to its own transparency and social standards in the Gazela Bridge Rehabilitation project in the Republic of Serbia. It has been sent simultaneously to the European Ombudsman.

Letter to EBRD regarding Gazela resettlement

BWN input for the EBRDs sectoral evaluation of Municipal Environmental Infrastructure projects

CEE Bankwatch Network’s inputs into the EBRDs evaluation of its work in the Municipal Environmental Infrastructure sector, a sector playing an important role in determining the quality of peoples lives through waste management, water and wastewater, and urban transport projects.

Comments on draft EBRD Investment Strategy for Russia for 2009-2011

Save Yuntolovo comments on the EBRD’s Investment Strategy for Russia and calls for an effective implementation of the strategy’s cross-priority of energy efficiency, for more transparency in the process, etc.

Letter to EBRD regarding possible damaging of Khimki forest by the Moscow – St. Petersburg highway

On October 27, 2009 we received EBRD’s response. Download it here.