Updates on the European Investment Bank

Change the lending, not the climate

Bankwatch’s new report on the EIB’s fossil-heavy energy lending between 2002 and 2008 comes one week before the crunch global climate talks in Copenhagen, in preparation for which the international financial institutions have been flexing their rhetorical muscles.

Change the lending, not the climate

As this rigorous analysis of the European Investment Bank’s energy portfolio from 2002 until the end of 2008 reveals, the EIB continues to heavily support fossil fuels while its lending for renewable energy maintains a promising, if only rather steady, share – in spite of the clear evidence of the climate change challenge, and despite the challenge the EU’s targets pose for its member states, especially the new member states in the east.

Letter to Energy Community of South East Europe regarding Porto Romano power plant

Letter to EIB asking for further explanation of ArcelorMittal’s eligibility for EIB funding

The EIB responded to our letter on December 22, 2009. Their response can be downloaded as pdf here.

Letter to EIB regarding the bank’s consideration to finance the Moscow – St. Petersburg motorway PPP

Bankwatch is concerned about the EIB and EBRD’s plans to finance the Moscow – St Petersburg motorway, which threatens the Khimki Forest outside of Moscow. Local people are vigorously campaigning to ensure that the motorway does not destroy their local green area. Here, we ask for some information regarding the EIB’s participation in the project.

Letter to European Commission regarding the EIB’s consideration to finance the Moscow – St. Petersburg motorway PPP

Violations at EBRD power lines project spark clashes between police and villagers in Ukraine

A project financed by the European Bank for Reconstruction and Development (EBRD) in the Odessa region of Ukraine has this week been the scene of clashes between 300 police officers and villagers resisting the routing of high voltage power lines through their village. The EUR 25.8 million Odessa High Voltage Grid Upgrade project is being implemented by Ukraine’s national electricity company Ukrenergo in violation of agreements with the EBRD, the international public development bank and backer of the project.

Letter to EBRD urging the bank to control NPC Ukrenergo’s high voltage grid project near Odessa, Ukraine

Letter to EBRD on human rights abuses by Turkmenistan against environmental activist Andrey Zatoka

As the EBRD reviews its country strategy for Turkmenistan, the letter requests the bank to bear in mind the serious human rights violations occurring in Turkmenistan, as exemplified by Mr. Zatokas case.

Tajikistani NGO letter to EIB regarding the energy sector development in Tajikistan