Leaked World Bank report depicts Georgia’s Nenskra hydropower project as major liability
Blog entry | 14 November, 2018Successive international analyses have cast serious doubts over the financial viability of the planned Nenskra plant. While the Georgian government keeps the project’s contract confidential, a leaked World Bank report offers a scathing account of the fiscal implications of this hydropower development.
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Controversial dam project in Georgia abandoned by constructor
Blog entry | 30 October, 2018Already mired by controversy, the billion dollar Nenskra hydropower plant is now facing another major hurdle as the company contracted to realize the project is now leaving it.
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The complaints mechanism at the EIB – usable but useless?
Blog entry | 8 October, 2018Nearly three years after first announcing it, the European Investment Bank (EIB) has finally presented a new vision for the bank’s complaints mechanism, the body responsible for grievances related to EIB projects and policies.
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European public banks continue financing coal bonanza
Blog entry | 1 October, 2018The EIB and EBRD have been channelling billions of euros in public money to fossil fuels dependent companies, hampering the international community’s efforts to tackle climate change.
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European Investment Bank and financial intermediaries: key issues and way forward
Publication | 30 September, 2018Counter Balance, Bankwatch and partners have identified a persistent lack of transparency and assessment of the economic, environmental and social impact of the EIB’s intermediated operations, which may undermine development impacts. So far they have n
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65 groups from 28 Countries tell EBRD and EIB to stop financing fossil fuels
Publication | 28 September, 2018The letter is written on the need to ensure the ongoing energy reviews at the European Bank for Reconstruction and Development and the European Investment Bank are aligned with the Paris Agreement goals.
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European development money helps sustain fossil fuels-based companies – report
Press release | 27 September, 2018Five of Europe’s biggest climate offenders continue to enjoy billions of euros in public funds, according to a Bankwatch report released today.
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European public funding for fossil fuel-dependent companies
Publication | 27 September, 2018CEE Bankwatch Network follows closely the EBRD’s ‘sister institutions’ and actively advocates for improvement of their lending policies. As the European Investment Bank (EIB) is expected to review its 2013 ‘Screening and Assessment Criteria for Energy
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Energy doublethink: contradictions at the EU bank in combatting climate change
Publication | 11 September, 2018See the web-version of the report. This year the European Investment Bank is expected to review its 2013 ‘Screening and Assessment Criteria for Energy Projects’, also known as its Energy Lending Criteria, which governs the types of projects the bank ca
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The EU’s house bank obstructs climate action with continued fossil fuels spending and lacking investment in sustainable energy – new report
Press release | 6 September, 2018Prague – A new Bankwatch analysis released today shows that in the years 2013-2017, the European Investment Bank (EIB) has invested EUR 18.4 billion in renewable energy projects in Europe and beyond, but at the same time handed out EUR 11.8 billion in EU public money to fossil fuels projects. The new report details a set of measures – including an unequivocal commitment to end support for fossil fuels – that can be introduced in the course of the upcoming review of the EIB’s energy strategy to ensure the world’s largest public lender facilitates the global effort to tackle the climate crisis, rather than hamper it.
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