Updates on the European Investment Bank

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.

Odessa High Voltage Grid Upgrade, Ukraine – EBRD AGM Issue Paper

In December 2005 the European Bank for Reconstruction and Development (EBRD) approved a EUR 25.8 million loan for the Odessa High Voltage Grid Upgrade project for the state-owned company Ukrenergo. The project, that foresaw construction of a 124 kilometre long 330 kV transmission line between the Adjalyk and Usatove substations in the Odessa region and modernisation of the substations, was Ukrenergos first experience with the international financial institutions, and inaugurated a series of further such investments.

Letter to EIB Sustainable Development Unit addressing deficiencies in the Hungarian scoping procedure for the Nabucco gas pipeline’s Environmental Impact Assessment

Letter to EBRD regarding the Sava river crossing, a new resettlement project in Serbia

Read more on the communities at the Sava river crossing also on our blog

Letter to EBRD president Thomas Mirow regarding the loan approval for the D1 motorway Phase 1, Slovakia

Bankwatch Mail 43

In this issue: Wise up! European Development Bank red herring masks critique of EIB’s external operations * The case for cyanide in Bulgaria’s gold mines kicked out * Lost in transition * New EU funds report and website * EU funds sinking in Latvia’s enduring crisis swamp * Charge of the electricity brigade against villagers in Ukraine * Will the World Bank be rewarded for business as usual or put to the test to stop climate-damaging development? * Belene in and out of the grip of Russia * IFI

Over the edge. Enel’s plans to export its pollution to Porto Romano, Albania

The Italian energy giant Enel is planning to construct a coal-fired thermal power plant consisting of two 800 MW units at Porto Romano near the city of Durres in Albania. If constructed this would be the largest investment in the history of the Albanian energy industry. Eighty five percent of the electricity produced would be exported to Italy.

Kazakhstan civil society letter to EIB requesting disclosure of information on the EIB’s Framework Agreement with Kazakhstan

The EIB responded to our letter on May 19, 2010. Their response can be downloaded as pdf.

Counter Balance briefing on the Wise Persons Panel report evaluating the external lending mandate of the European Investment Bank

Framework Agreement between the Republic of Kazakhstan and the European Investment Bank