Updates on the European Bank for Reconstruction and Development

Introduction of cyanide leaching at the Chelopech gold and copper mine

The Chelopech Mining project is separated in two parts: Phase 1 focusing on environmental improvements; and Phase 2 proposing the expansion of metals production through the introduction of cyanide leaching technology. EBRD approved a USD 10 million loan for Phase 1 in 2004. Phase 2 has been under review since 2005, and there has been no progress due to the blocking of the project by the Bulgarian Ministry for the Environment and Waters at the Environmental Impact Assessment (EIA) stage in March 2006.

Environmental activity of the LUKOIL Company in Komi

In May 2007 the LUKOIL Company signed a USD 300 million loan contract with the EBRD and other multilateral banks to finance an environmental security scheme of the LUKOIL group subsidiaries. The borrowed funds were supposed to be used for implementing environmental projects by a number of company divisions including LUKOIL Komi LLC. The loan is believed to help decrease the volume of associated gas, reduce water consumption and pollutant content in sewage, arrange waste management and reconstruct industrial pipelines.

Who wants it? Who needs it? The Vlora coastal terminal, Albania

The terminal is to be located inside the industry park near a thermo-power plant which has already received lending support from the EBRD, European Investment Bank and the World Banks International Development Association.

Western High Speed Diameter: strategic risks of a strategic project

The Western High Speed Diameter (WHSD) is a 46 kilometre toll motorway, part of the IX Pan-European Transport Corridor linking St. Petersburg with Scandinavia. The road has been presented as a strategic investment priority for St. Petersburg by the Russian authorities and international financiers as it is going to be the first public-private partnership in Russia as well as the first toll road in Russia. Yet there are serious doubts that the WHSD will make St. Petersburg a better place.

Progress report on the ‘Gazela’ slum resettlement project – EBRD AGM Issue Paper 2008

The Gazela Bridge over the Sava River in Belgrade, Serbia, is more than thirty years old. The bridge was projected for 30000 v/day, currently is servicing more than 150000 v/day. The bridge has never been repaired and urgently needs reparation. The EBRD approved Euro 25 million loan for the reconstruction of approaching roads to Gazela Bridge to the Public Enterprise Serbian Roads.

Bankwatch Mail 36

In this issue: Why is the EBRD tacitly backing Ukraine’s nuke-centric, inefficient energy plans? * Football and PPPs do not mix * Renewables continue to get a rough ride in Georgia * Other transitions are out there – but not as the EBRD knows it * Wake up and smell ArcelorMittal – global case studies reveal who picks up the tab for steel giant * PIP squeaks again: no end in sight to info disclosure constipation at the EBRD

EBRD response to a letter regarding its involvement in Phase 2 of the Chelopech mining project

Dear Mr Popov Chelopech Mining project – phase 2 Thank you for your letter of 2 May, 2008 in which you share with us your concerns about Chelopech Mining Project (copy attached for reference).

Dead workers, stinking pollution and forced evictions: New report highlights ArcelorMittal’s global trail of destruction

A newly-formed coalition of environmental and community groups [1] – Global Action on ArcelorMittal – today released a report showing how local residents and workers around the world pay the price of ArcelorMittal’s success.

In the wake of ArcelorMittal – the global steel giant’s local impacts

The publication shows how local residents, workers and the environment pay the price for ArcelorMittal’s success. The compilation contains case studies examining Mittal’s IFC- and EBRD-financed plants in Romania, Ukraine, Bosnia-Herzegovina, the Czech Republic and Kazakhstan.

Comments on the EBRD draft Public Information Policy