New damage to hydropower project a bleak reminder of development bank missteps in Georgia
Blog entry | 27 June, 2016On June 23 mudflows from the Devdoraki glacier again hit the Dariali gorge and washed away a road and infrastructure connected to two hydropower projects planned in the north of Georgia. The destruction included the water intake for the 19 megawatt Larsi hydropower plant and the derivation pipes for the Dariali hydropower plant.
Read moreThe European Investment Bank and its energy sector lending 2013-2015
Publication | 14 June, 2016This analysis of the European Investment Bank’s (EIB) energy lending shows that the bank has been effectively hindering Europe’s energy transition. Most notably, during 2013-2015, EIB lending to renewables in Europe has dropped whereas its lending to fossil fuels has modestly but consistently increased. Moreover, while EU leaders have repeatedly emphasised the ‘energy efficiency first’ principle, the EIB has been lagging behind with only 3.6% of its lending across sectors going to energy conservation projects.
Read moreThe EU house bank is holding back Europe’s shift to sustainable energy
Press release | 14 June, 2016On the occasion of the EU Sustainable Energy Week, a new Bankwatch analysis shows that the European Investment Bank (EIB) has been effectively hindering Europe’s energy transition.
Read moreEFSI case study: Bratislava bypass: A transport public-private partnership with high costs and limited benefits
Publication | 8 June, 2016The so-called European Fund for Strategic Investments (EFSI) should unlock additional investment of at least EUR 315 billion over a three year period (2015-2017). One of the projects benefiting from the financing concerns the design, construction, operation and maintenance of about 27km of a motorway around Bratislava. The project will come with high costs, will damage biodiversity and likely not solve local transport problems.
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MEP Pirinski: “The EIB should pay more attention to economic, social and territorial cohesion”
Blog entry | 7 June, 2016MEP Georgi Pirinski, rapporteur of the annual report on the European Investment Bank, shares his views on how to improve the way the bank operates.
Read moreEFSI case study: Energy efficiency in residential buildings in France: Energy Performance Contracting to boost investments
Publication | 6 June, 2016The so-called European Fund for Strategic Investments (EFSI) should unlock additional investment of at least EUR 315 billion over a three year period (2015-2017). One of the projects benefiting from the EU financing is a program that aims to promote energy efficiency in the housing stock through the funding of certain regional/local initiatives supporting energy renovation of private residential buildings in France.
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Bankwatch and Counter Balance statement on the mid-term review of the Investment Plan for Europe
Press release | 1 June, 2016Brussels, Prague – European Commission Vice President Jyrki Katainen presented today the mid-term result of the Investment Plan for Europe. The European Fund for Strategic Investments (EFSI), the financial arm of this investment strategy, was established by the European Commission and the European Investment Bank (EIB) in 2015 with the aim of mobilising private investments to stimulate the European economy.
Read moreThe European Investment Bank and climate action 2013-2015
Publication | 23 May, 2016The European Investment Bank’s lending for climate action between 2013 and 2015 shows that further structural changes are needed to align the bank’s portfolio with the objectives of the Paris agreement.
Read moreThe Paris Agreement is a wake up call for the EU’s house bank to realign its investment strategy
Press release | 23 May, 2016The European Investment Bank (EIB) must adopt new directives and operating principles to play a meaningful role in realising the EU’s goal of a decarbonised and resource efficient economy, say CEE Bankwatch Network and Counter Balance ahead of the bank’s annual meeting during the EU finance ministers’ Council this Wednesday, May 25.
Read moreParliament gets tough on control of EU Bank’s funds
Press release | 28 April, 2016In its annual resolution on the European Investment Bank adopted today in Brussels, Members of the European Parliament have criticised the bank’s support to projects under corruption investigations. They also called on the EIB to go further on fighting climate change, tax evasion and tax dodging. Counter Balance and CEE Bankwatch Network welcome the positions taken today by the Parliament in this resolution.
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