Updates on the European Bank for Reconstruction and Development

Anti-cyanide protestors in Sofia boosted by European parliament support

Residents of the Bulgarian village of Poibrene have today taken their long-standing concerns about the potential introduction of controversial cyanide technology at the Chelopech gold mine – led by Canadian firm Dundee Precious Metals – directly to the Bulgarian ministries of environment and health and to the Sofia office of the European Bank for Reconstruction and Development (EBRD), the publicly-owned development bank that is a potential funder of a USD 150 million project that could see cyanide leaching introduced at the gold mine without inclusive public consultation.

Request for EBRD evaluation of ArcelorMittal investments addressed to Evaluation and Environment Department

On January 14, 2009 EBRD responded to our request. Download the response as pdf here.

Request for EBRD evaluation of ArcelorMittal investments addressed to Board of Directors

Letter requesting the EBRD to undertake a thorough evaluation of the bank’s investments in “Arcelor Mittal” and its predecessors since 2001. On January 14, 2009 EBRD responded to our request. Download it as pdf here.

EBRD Independent Recourse Mechanism review – Project Complaint Mechanism Rules of Procedure

Pumped storage plants are not green investments

In November 2008, the National Environmental Investment Agency of Ukraine decided to direct money from the International Greenhouse Gases (GHG) Emissions Trading into the construction of pumped storage plants (PSPs). Yet PSPs totally contradict the idea, as they do not lead to the decrease of carbon emissions and will harm the environment.

Letter to EBRD president regarding financing for several highway sections in Slovakia

Recently the Slovak parliament adopted Act 669/2007 which allows motorways to be built on private property that has not been bought or expropriated at the time of construction. This creates favorable conditions for private investors engaged in building highways under public-private partnership ( PPP ) schemes. The act directly violates the right to the peaceful enjoyment of possessions guaranteed by the European Convention for the Protection of Human Rights and Fundamental Freedoms and its protocols, which is the basic norm of the EU in the area of human rights.

A letter to Ukrainian president Yuschenko regarding memorandum between government of Ukraine and ArcelorMittal Kriviy Rih

A letter to Ukrainian president exposes the agreement between the Ukraine’s government and ArcelorMittal. In that agreement the company asks for reduced energy rates and delayed implementation of energy saving projects, while, on the contrary, the EBRD has lended money for modernization and improving the energy efficiency of the plant. Download ukrainian version in Microsoft Word format here.

A letter to Kazakh president Nazarbayev regarding special agreement with ArcelorMittal

The letter highlights the recently-signed memorandum of understanding between Kazakh government and ArcelorMittal Temirtau that grants the company a number of special conditions, like fixed pollution fees regardless of the actual volume of pollutant emissions, and a fixed corporate income tax regardless of the results of the company’s financial activities.

Bankwatch Mail 38

In this issue: A fossil free EIB requires political will * South east Europe’s leaders to cling to carbon during COP 14 * Counting down to Copenhagen – counting on public money to do more for climate-friendly investments * No more excuses for IFI heel-dragging on renewables in emerging markets * EBRD carbon factor: Readers decide * Many cooks stirring Albania’s carbon soup * Looking beyond nuke bickering in the Baltics * EU-Ukraine energy cooperation needs a rethink * World Bank is accomplishing mission impossible in CEE, says the Bank * PPP’s perils and pitfalls make it no panacea – new Bankw

Never mind the balance sheet – the dangers posed by public-private partnerships in central and eastern Europe

In recent years public-private partnerships (PPPs) have been heavily promoted in central and eastern Europe (CEE), often giving the impression that where infrastructure is concerned, PPPs are the only game in town. Yet behind the plethora of conferences, workshops and publications, few CEE countries have implemented more than two or three PPP projects, and even fewer truly successful projects.