Open letter to EIB & EBRD: Sostanj must never happen again
Publication | 20 March, 2013After the EIB and the EBRD disbursed a promised 650 million euros for Slovenian lignite plant TES 6 on March 8, Focus Slovenia, CEE Bankwatch Network and 96 other NGOs sent this letter to the two banks calling on them to never commit to such a misguided loan again. The letter includes a list of reasons why Sostanj was undeserving of public loans and a set of measures that need to be taken by the banks immediately in order to avoid such mistakes from being repeated in the future.
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[Campaign update] Woes in Kosovo’s energy sector trigger demand for Minister’s removal
Blog entry | 18 March, 2013Amid increasing public outcry over electricity prices and the privatisation of the KEDS distribution company, KOSID, an industrious NGO coalition from Kosovo has called for the dismissal of Besim Beqaj, the country’s Minster for Economic Development.
Read moreThe Western Balkans: EBRD’s public money to finance coal plants that threaten EU’s long-term climate targets?
Publication | 18 March, 2013The Western Balkans countries are aspiring to become members of the European Union. At the same time, 6195 MW of new coal and lignite plants are planned to be built in the Western Balkans, which will still be operating by 2050 and threaten these countries’ ability to comply with EU long-term decarbonisation objectives. The European Bank for Reconstruction and Development is planning to support some of these power plants via its loans.
Read moreEBRD 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 moreThe EBRD, KfW, coal and corruption: European money in the Kolubara mine in Serbia
Publication | 12 March, 2013Linked to a slew of controversies, the Kolubara lignite mining project in Serbia is in line for support from European public banks. Corruption allegations, pollution at local level, irregularities in resettlement of local populations and not to forget a climate damaging approach to energy investments should be reason enough to find alternative options.
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New 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 moreBankwatch Mail 55
Publication | 7 March, 2013On the occasion of the Climate Parliament meeting in the European Parliament and with both the EBRD and EIB currently undertaking reviews of their respective energy policies, this issue of Bankwatch Mail takes another close look at the banks’ energy lending, including nuclear and shale gas in Ukraine, coal in Kosovo, the European Commission’s thoughts on the EIB’s energy lending. It also showcases a range of bright ideas from the winners of our EU funds competition, aimed at stimulating new thinking on how future EU budget spending can practically assist local communities and the environment, and more…
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New nuclear risks in Ukraine – EBRD urged not to back lifetime extensions under the guise of ‘safety’
Publication | 7 March, 2013The European Bank for Reconstruction and Development is expected to take a decision this month on whether or not to provide a EUR 300 million loan for a nuclear power plant Safety Upgrade Programme (SUP) in Ukraine. Bankwatch and other environment groups are questioning the logic of the proposed SUP as it will result in some of Ukraine’s old nuclear units continuing to operate for another 20 years.
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Kolubara mine “mired in crime and corruption”
Publication | 7 March, 2013At a press conference in January, Serbia’s energy minister Zorana Mihajlović spoke out strongly against the Kolubara mining complex, describing it as being “mired in crime and corruption” while also announcing that a thorough investigation is ongoing into corrupt practices by the Kolubara management. Bankwatch believes that this latest confirmed scandal at Kolubara should be giving the EBRD serious pause for reflection as it considers yet another loan to the Serbian electricity company EPS, heavily implicated in these latest revelations.
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