Updates on the European Investment Bank

Rotten perceptions, grim reality Turkmenistan off the agenda in European Parliament, Nabucco still nowhere near fit for purpose

Transparency International’s Corruption Perceptions Index, launched today, confirms Turkmenistan’s position as one of the world’s least democratic regimes. Promoters of the Nabucco gas pipeline project have opted to adopt a surprisingly tolerant approach to Turkmenistan’s endemic failings.

Bankwatch Mail 46

In this issue: A sustainable EU budget – it’s time to cut the crap * Khimki forest reprieve brings no cessation of underhand tactics * EU funds flows for smart flood prevention can save billions and lives * Rip it up and almost start again – New EU funds priorities for Hungary * EU funds for Latvia’s environment up in smoke * Conference – The private sector turn: Private equity, financial intermediaries and what they mean for development (November 22, London) * EBRD financial sector strategy revision reveals few lessons learned from crisis * Energy and transport failings in the east – a challe

Bankwatch input to EC consultation on an EU initiative on concessions

The European Commission (EC) has recently invited inputs to its consultation on an initiative on concessions that aims to improve the rules for concession contracts in the EU. PPP advocates insist on their cost-effectiveness, timely completion rates and the sharing of financial risk – yet so far the evidence for these claims is decidedly mixed. In our comments we call for a thorough and independent assessment of the performance of PPPs so far and their financial and social impact.

Bankwatch input to the consultation on the future TEN-T Network Policy

Bankwatch’s comments to the consultation on the future of the Trans-European Transport Network (TEN-T), the vast Europe-wide network of roads, rail, air and water transport raise concerns among others about the lack of an overall vision in the European Commission’s consultation documents so far and about the European Investment Bank’s role in the implementation in the revised policy.

Khimki Forest activist arrested for holding banner during picket action

Russian activist Yaroslav Nikitenko was arrested by police on Saturday during a legally permitted picket action in the town of Khimki near Moscow. The action was part of the campaign to change the route of the planned Moscow-St Petersburg motorway so that it avoids the Khimki Forest.

Nabucco and Turkmenistan – Our energy security, Turkmens’ misery

This paper examines the less obvious aspects of the Nabucco gas pipeline project – its possible impact on Turkmenistan, a country notorious for its grave human rights situation and the dictatorial tendencies of its political leaders. It also discusses how, with a lack of public oversight over gas revenues in Turkmenistan, the construction of Nabucco may lead to the strengthening of one of the most brutal regimes currently in existence.

Open letter to Russian President Medvedev regarding the planned public consultation process on the Moscow – St. Petersburg motorway project

No public money for Nabucco – mega gas project a drain on clean energy, human rights and the environment, says Bankwatch

Budapest, Hungary — Reacting to today’s announcement by the Nabucco Consortium that international public banks are now officially commencing their appraisal of the EUR 7.9 billion (estimated) Nabucco gas pipeline project, watchdog group CEE Bankwatch Network called on the international financiers to reject what would be record European public finance for the project and instead to focus on the financing of clean energy in central and eastern Europe, particularly climate-friendly, job-boosting energy efficiency.

Civil society groups welcome cancellation of Slovak D1 motorway PPP

Friends of the Earth CEPA (Slovakia) and CEE Bankwatch Network applaud today’s cancellation [1] of the 9 billion euros public-private partnership (PPP) for the first phase of the D1 motorway in Slovakia and urged the new government to change the project’s routing to avoid damaging the Mala Fatra and Velka Fatra National Parks.

Letter asking the European Commission’s Executive Director in the EBRD to clarify his D1 Motorway Phase One project approval

On April 27, 2010 at the annual meeting of the European Bank for Reconstruction and Development (EBRD), the European Commissions (EC) Executive Director voted positively regarding the D1 Motorway Phase One project in Slovakia – despite the project’s serious shortcomings and an ongoing project screening by the EC (DG Environment) for its compliance with the environmental acquis communautaire.