EBRD finances lifetime expansion of Ukrainian nukes, but gets defensive about it
Press release | 13 March, 2013Kiev – The European Bank for Reconstruction and Development approved yesterday a 300 million euros loan for the so-called “Safety Upgrade Programme” of Ukraine. In reality, the beneficiary company, state-owned Energoatom, will use the money to prolong the lifetime of 12 old nuclear reactors.
Read moreNew nuclear risks in Ukraine – decision expected tomorrow
Blog entry | 11 March, 2013The European Bank for Reconstruction and Development is expected to take a decision tomorrow on whether or not to provide a EUR 300 million loan for a nuclear power plant Safety Upgrade Programme in Ukraine. This article from our quarterly Bankwatch Mail sums up the issues at hand.
Read moreEurope’s public banks disburse EUR 650 million to Sostanj coal plant despite ongoing corruption charges
Press release | 8 March, 2013Ljubljana – The European Investment Bank announced today [1] that it would pay the remaining EUR 440 million out of a EUR 550 million loan [2] for the construction of a new 600 megawatt lignite unit at Sostanj [3] in Slovenia, and that the European Bank for Reconstruction and Development would follow suite with its parallel EUR 100 million loan.
Read moreConstant dripping wears away the stone. Kyrgyz parliament votes to renegotiate Kumtor gold mine contract.
Blog entry | 21 February, 2013Challenging a mining operation that generates about ten percent of GDP in a country and particularly doing so on environmental and social grounds is an intimidating task. But as the example of the Kumtor gold mine in Kyrgyzstan shows, indefatigability and scientific expertise can persuade decision-makers to defend the interests of a country and its people.
Read moreRio Tinto’s responsibilities in Mongolia extend beyond shareholders
Blog entry | 15 February, 2013New civil society recommendations for the Oyu Tolgoi mine in Mongolia illustrate that much more than the bottom line needs to be considered to avoid development at the expense of local communities.
Read moreBogus logic in Ukraine: A nature reserve not worth protecting
Blog entry | 13 February, 2013If you thought the purpose of a nature reserve is to protect wildlife from disruptive human interference, then you’re wrong – at least when it comes to nature that’s in the way of electricity infrastructure in Ukraine.
Read moreAnti-coal campaign in Kosovo puts focus on health
Blog entry | 4 February, 2013A campaign against a new lignite power plant in Kosovo uses World Bank figures to highlight the health damage resulting from pollution.
Read moreKolubara “mired in crime and corruption”
Blog entry | 30 January, 2013Those were the words of Serbian Energy Minister Zorana Mihajlović, speaking last week in a press conference during which she announced that a thorough investigation is ongoing into corrupt practices by the management of the Kolubara mining complex.
Read moreGood news: EBRD drops controversial Monsanto project
Blog entry | 28 January, 2013A potential cooperation between the European Bank for Reconstruction and Development and the agro-corporation Monsanto has thankfully not come to fruition. The case highlights the difficulties for a large development bank to reach farmers on the ground.
Read moreOff on the wrong foot in Kosovo? A lignite power plant and the EBRD
Blog entry | 25 January, 2013Notwithstanding the dominance of lignite in Kosovo’s energy mix, the European Bank for Reconstruction and Development may get involved with yet another lignite project in the Western Balkans.
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