Updates on the European Investment Bank

Bankwatch Mail 39

In this issue: Earth calling the IFIs – Take me to your added value * Countdown to Copenhagen finds the EU stuck in limbo * Wind frozen and trees cut in Latvian crisis measures * The penny starts to drop on PPPs * Oil, gas and the IFIs: Sketching some lines on the horizon * Landmark legal victory compels Ex-Im Bank and OPIC to get real on their fossil fuel lending * Transparency fever gripping the World Bank?

Quality review of the EIA for the Porto Romano thermal power plant

This independent quality review of the Environmental Impact Assessment study highlights more than 25 shortcomings in the assessment, including the studys failure to: consider alternative energy scenarios to coal power; analyse properly the carbon dioxide emissions; assess the socio-economic impacts of the project and provide for management and monitoring plans. Based on this quality review as well as the opposition from the local communities the Municipality of Durres declared itself officially against the project in April 2009.

First tranche of EIB car “crisis” loans requires scrutiny, warn Bankwatch and Greenpeace

The European Investment Bank (EIB) has today extended EUR 3 billion in soft loans to eight European carmakers for the development and production of cleaner vehicles. CEE Bankwatch Network and Greenpeace call on the EIB to ensure that money goes to initiatives with a true impact on cutting carbon emissions from cars and not just to small-scale greenwash projects.

Letter to EBRD president regarding financing for several highway sections in Slovakia

Recently the Slovak parliament adopted Act 669/2007 which allows motorways to be built on private property that has not been bought or expropriated at the time of construction. This creates favorable conditions for private investors engaged in building highways under public-private partnership ( PPP ) schemes. The act directly violates the right to the peaceful enjoyment of possessions guaranteed by the European Convention for the Protection of Human Rights and Fundamental Freedoms and its protocols, which is the basic norm of the EU in the area of human rights.

Bankwatch Mail 38

In this issue: A fossil free EIB requires political will * South east Europe’s leaders to cling to carbon during COP 14 * Counting down to Copenhagen – counting on public money to do more for climate-friendly investments * No more excuses for IFI heel-dragging on renewables in emerging markets * EBRD carbon factor: Readers decide * Many cooks stirring Albania’s carbon soup * Looking beyond nuke bickering in the Baltics * EU-Ukraine energy cooperation needs a rethink * World Bank is accomplishing mission impossible in CEE, says the Bank * PPP’s perils and pitfalls make it no panacea – new Bankw

Never mind the balance sheet – the dangers posed by public-private partnerships in central and eastern Europe

In recent years public-private partnerships (PPPs) have been heavily promoted in central and eastern Europe (CEE), often giving the impression that where infrastructure is concerned, PPPs are the only game in town. Yet behind the plethora of conferences, workshops and publications, few CEE countries have implemented more than two or three PPP projects, and even fewer truly successful projects.

An approach to Barroso regarding taxpayers-backed loans for the car industry

This letter focuses on a loan proposal from the EIB for the car industry. The bank already funded companies that are producers of models with high fuel consumption while progress on improving fuel efficiency has ground to a halt. This projected loan is in no way relevant to the proposed European policy to set lower future levels of CO2 emissions. Also the loan itself is an extremely significant figure and equals 80 euros per EU citizen.

Follow up letter to DG Regional policy regarding controversial transport projects – Prague ring road (R1) and Katowice-Vienna TENT connection in South Moravia (R52 / R55 motorways)

This letter highlights problems with two controversial transport projects, the Prague Ring Road and Katowice – Vienna connection proposed under the TEN-T program. Specifically in the case of the Prague Ring Road, these issues include nuclear safety regulations, inappropriate traffic mitigation measures and changes to the land use plan. Problematic issues with the Katowice – Vienna connection include environmental and transport efficiency concerns.

Local resistance to nightmare Albanian energy development scenario remains defiant, protestors demand a referendum

3000 citizens from the city of Vlora in Albania held a large protest rally this weekend at the coastal site that has been designated as the construction site for an oil and gas terminal and a thermo power plant. The protestors called on national institutions to respect their right to a local referendum on the constructions. They also urged the World Bank, the European Bank for Reconstruction and Development (EBRD) and the European Investment Bank (EIB) not to provide finance for projects that do not respect local public rights to participate in decision making and that will have strong negative impacts in the very sensitive area of Vlora Bay. [1]

Briefing paper about the ‘Gazela’ resettlement process