Updates on the European Investment Bank

Letter to EBRD and EIB regarding violent clashes in the Khimki forest connected to the Moscow-St.Petersburg motorway

On the morning of July 22, members of civil society were attacked by scores of unidentified assailants. The police, called to the scene by the protestors, chose not to interfere. Reports from the ground indicate that clashes continued before the passively observing police eventually arrested local activists.

Letter to EIB and EBRD regarding the logging of trees in the protected Khimki Forest

Conclusion Report by EIB Complaints Office on Bankwatch’s complaint regarding Gazela bridge rehabilitation project Belgrade, Serbia

The report confirms Bankwatchs allegations that EIB did not pay sufficient attention during the project assessment: the severe social impact of the project should have led the EIBs competent services to exercise a cautious and targeted social assessment with a view to pro-actively identifying (and therefore promptly addressing) the major social concerns during the appraisal of the projects, while EIB documents do not contain any documental evidence of an appropriate identification of the social issues at stake.

Letter to EIB denouncing misconduct of Belgrade authorities in the Sava crossing resettlement process, Belgrade

The protest letter, sent by the Regional Centre for Minorities and Bankwatch member group Center for Ecology and Sustainable Development (CEKOR), describes recent incidents of threats and assault on families to be resettled to allow for a road construction. Belgrade authorities have apparently not improved their approach following the poor Gazela resettlement process. The letter calls upon the EIB to demand proper resettlement preparation and planning, including the participation of affected families.

Can the international financial institutions do more to support new renewables and energy efficiency in south-east Europe?

As Europe is greening its economy and gearing up to decarbonise by 2050, most south-east European (SEE) countries still view energy efficiency and renewable energy as greens on the side of their main dish. Coal power and large hydropower are still the favourites on the menu, as they depend on indigenous resources and keep energy import dependency lower.

Comments on the EIB’s transport lending policy (updated)

The EIBs transport policy is particularly important considering the importance of transport investments in the EIB’s portfolio, as well as the transport sectors rising CO2 emissions in the EU. Bankwatch’s comments argue for a clear policy orientation towards greenhouse gas reduction in the bank’s transport lending and contrasts the EIB’s current EIB lending figures with its own claims of emphasising climate considerations.

Bankwatch policy comments on the European Commission’s stock taking document: Towards a new energy strategy for Europe 2011-2020

Bankwatch’s comments on the European Commission’s DG Energy’s document “Towards a new energy strategy for Europe (TESE)” discusses the priorities for EU public financing we believe should be incorporated into a new energy strategy.

Sounding the potential of a European budget “for the people and the climate”

After six months of preparations and more than 50 interviews with decision makers and experts, Bankwatch has met with representatives from the European Commission, the European Parliament, the European Investment Bank and the European Bank for Reconstruction and Development to discuss how the next EU budget for the 2014-2020 period can effectively support a low-carbon economy with benefits for people and nature.

Funding instruments for energy efficiency and renewable resources – Basis for round table discussion

Bankwatch coordinators in Bulgaria, the Czech Republic, Latvia and Poland have interviewed energy and financial experts from national ministries and other institutions. This paper is a summary of their findings.

Counter Balance statement on the Commission proposal for a Decision of the European Parliament and the Council granting a EU guarantee to the EIB against losses under loans and guarantees for projects outside the EU

Given an array of evidence (described in this letter) that the EIB is not yet suited for a development role, and taking into account the increased onus within the Decision on development, Counter Balance strongly opposes the recommendations of the Decision that the EIB receives the €2bn optional mandate for a new climate mandate, increase its overall investments, extends the range of financial instruments offered, and undertake concessional lending by mixing EIB money with EU grants.