Updates on the European Investment Bank

Letter reiterating Vinci’s failure to respect Global Compact commitments on human rights

Bankwatch and the Movement to Defend Khimki Forest wrote to the Global Compact on 28th March 2011 regarding Vinci’s non-compliance with its Global Compact Commitments in relation to the first section of the Moscow – St. Petersburg motorway project. Our letter subsequently formed the basis of an enquiry to Vinci by the Business and Human Rights and Human Resource Centre, to which Vinci responded on 26th April 2011. Having carefully reviewed Vinci’s response, we still believe that the company is not in compliance with its Global Compact commitments.

Arab civil society and international groups against diverting the revolutions’ economic and social justice goals through conditionalities imposed by international financial institutions

Police investigates irregularities at TES 6 in Slovenia

Ljubljana, Slovenia — The Slovenian police confirmed June 7 that it was looking into allegations of mismanagement at coal plant Sostanj, including serious questions over the building of new lignite block TES 6.

EIB transport lending is not just on a wrong track but hardly on tracks at all

Bankwatch’s EIB team leader Anna Roggenbuck, on her way to consultations on the European Investment Bank’s transport policy, has crunched the numbers of the bank’s transport sector lending. The result: while exhibiting a strong faith in future technological solutions the EIB is fuelling increased carbon emissions across Europe.

Bankwatch Mail 48

On the occasion of the EBRD’s 20th anniversary, Bankwatch Mail is complemented by a range of personal reflections from people both within and beyond central and eastern Europe, people who have worked directly on issues related to the EBRD, or who have studied the bank’s impacts.

Slovenian government drops support for Sostanj coal plant; European public banks must follow suit

Ljubljana, Slovenia — CEE Bankwatch Network and Slovene NGO FOCUS are calling on the European Investment Bank (EIB) and the European Bank for Reconstruction and Development (EBRD) to review their plans to provide 650 million euros in loans for the controversial 600 MW TES 6 block at Slovenian lignite plant Sostanj.

The sun ain’t shining over Khimki Forest

The Khimki Forest in Russia might see its end signed and sealed this month. But Russian activists have continued their actions to defend Khimki forest also today by carrying out a citizens’ inspection to prevent the still illegal felling of trees.

Letter: EBRD and EIB should review involvement in Sostanj due to serious shortcomings in the project’s management

On April 14 2011 the Minister of Economy of Slovenia, presented a report on the management of the Sostanj TES 6 project to the Government of Slovenia. In the report many shortcomings of the project are highlighted, which led the Government to state that it will only support a state guarantee for the EIB loan amounting to EUR 440 million if the economic efficiency of the project can be improved.

Vinci concession exposed as cover for oligarchs and tax havens in Russia’s first road PPP

An opaque web of offshore companies and oligarchs behind the controversial Moscow–St. Petersburg motorway public-private partnership provides new grounds for the Russian government to re-examine the project, according to new research by CEE Bankwatch Network and the Movement to Defend Khimki Forest, published today.

Vinci – a cover for oligarchs and tax havens in Russia’s first road PPP

An opaque web of offshore companies and oligarchs behind the controversial EUR 1.5 billion first section of the Moscow–St. Petersburg motorway public-private partnership provides new grounds for the Russian government to re-examine the controversial project, according to this new research by CEE Bankwatch Network and the Movement to Defend Khimki Forest.