Updates on the European Investment Bank

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.

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.

Bankwatch Mail 45

In this issue: Commission seeking to boost EIB development lending despite failures and lack of details * EU Budget review missing in action * Developments in development lending – what Lisbon means for EIB lending outside Europe * A non-meeting of minds once again at the EIB’s annual meeting * EU Funds: More light equals fewer shades of grey * Fossil farce a cure for Greek tragedy?

Letter to EIB governors on the occasion of the bank’s 52nd annual meeting

The EIB’s annual meeting remains off limits for NGOs in contrast to the often fruitful discussions allowed with the staff and governing bodies of institutions like the World Bank and the European Bank for Reconstruction and Development. This in mind, CEE Bankwatch Network and Counter Balance: Challenging the European Investment Bank have written to the EIB’s governors ahead of their 52nd annual meeting in Luxembourg.

Bankwatch Mail 44

In this issue: EBRD own goal on coal will under-mine clean energy ambitions * Croatia: land of sun, sea and contradictory strategies * Sustainable energy mischief in Ukraine * Mining’s winners and losers on show in new film * Hopes and more fears in Central Asia * More sustainable development pipedreams? BTC shows how not to do Nabucco * Post-conflict aid to Georgia: mission accomplished or fait accompli?

Letter to EIB on the D1 motorway project outlining developments since the Complaints Offices Conclusion Report in November 13, 2009

South Ukraine Transmission Project – EBRD AGM Issue Paper

The European Bank for Reconstruction and Development (EBRD) is considering lending EUR 175 million to the National Energy Company of Ukraine, Ukrenergo, for implementing the South Ukraine Transmission Project. An equal amount of financing was approved by the EIB in October 2009. The project foresees construction of a new 750 kV power transmission line, two 330kV double circuit diversions, and modernisation of an existing 330/220/110 kV substation.

Tbilisi Railway Bypass project – EBRD AGM Issue Paper

On March 9, 2010, a loan for the Tbilisi Railway Bypass Project, initiated by the Georgian Railway company, was approved by the EBRD. The main goal of this project, rated category A by the EBRD, is to construct a new section of railway that bypasses the central part of Tbilisi in order to avoid the transit of hazardous freight (such as oil and oil products) through the middle of the city. While this main goal is welcomed, there are several strong concerns that undermine the project goals and may cause a serious threat to Tbilisis population.