Updates on the European Investment Bank

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

Letter to the EIB regarding consultations on its Lending Policy for municipal waste

On March 17, 2009 the EIB responded to our letter. Download the response in Microsoft Word format here.

Letter to EIB regarding Zagreb municipal solid waste incinerator project on EIB’s webpage

The letter comes after information on EIB web site that the bank might still be interested in financing the Zagreb incinerator project.

Letter to EIB regarding Zagreb municipal solid waste incinerator project on EIB’s webpage

Reply from the EIB regarding concerns on the Zagreb Incinerator project dated November 3, 2008 states that the bank has not been yet asked to consider financing the project. Download the response as pdf here.

Letter to the EIB regarding the social and environmental impacts of financing for sections of the D1 motorway in Slovakia