Independent analysis questions economic viability of TES 6
November 28, 2011
Ljubljana – An independent analysis commissioned by Bankwatch and Focus published today reveals a number of unsubstantiated claims and methodological mistakes in the investment plan for the TEŠ 6 lignite plant in Slovenia. Correct calculations show that the internal rate of return is in reality lower than estimated by the project promoter, state-owned TEŠ. Had the rate of return been calculated properly, the project would not have qualified for the EIB loan of 440 million euros it is set to receive.
NGOs condemn EBRD financing of biodiversity destruction in Croatia
November 23, 2011
Zagreb — Croatian environmental organisations Zelena akcija/Friends of the Earth Croatia, the Croatian Biospeleological Society, Transparency International Hrvatska, Srđ je naš, Baobab, Eko Zeleno Sunce, Brodsko ekološko društvo-BED, Center for Environment (B&H), Eko-Zadar, WWF MedPO and regional organisation CEE Bankwatch Network have described as “extremely irresponsible” the approval yesterday by the European Bank for Reconstruction and Development of a EUR 123 million loan for the construction of the Ombla underground hydropower plant near Dubrovnik. [1]
European public banks must disengage with Egypt’s military junta
November 22, 2011
In light of the violence against civilians on the streets of Egypt today, CEE Bankwatch Network is requesting that the European Investment Bank and the European Bank for Reconstruction and Development immediately cease discussions and negotiations with the Egyptian government and authorities on all levels about potential financial involvement in the country until the Supreme Council of the Armed Forces (SCAF) cedes power to civilian leaders, the country has a legitimately-elected civilian government in control of the army, and military trials come to an end.
NGO coalition urges EBRD not to finance destruction of national park in Macedonia
November 7, 2011
Skopje – A coalition of more than 30 Macedonian and international NGOs are calling on the European Bank for Reconstruction and Development (EBRD) not to finance Boskov Most hydro power plant in north-western Macedonia. The project would seriously damage Mavrovo national park, the largest in the country and a potential Natura 2000 site, while at the same time being envisaged to produce a relatively small amount of electricity to be used only for the stabilization of the national energy system.
NGOs call on the EBRD not to finance “high risk” underground HPP in Croatia
October 26, 2011
Zagreb — Croatian and international environmental organisations have today called on the European Bank for Reconstruction and Development (EBRD) not to go ahead with a planned EUR 123 million loan for the Ombla hydropower plant near Dubrovnik in Croatia, due to be approved by the bank’s Board of Directors on November 8. In an open letter to the bank, the organisations point to ecological, economic, and procedural problems with the plans, which even the consultants hired by the EBRD to assess the project have described as “high risk”.
Art installation at Berlaymont denounces banking on coal
October 19, 2011
Brussels – With an art installation that symbolizes EU citizens locked in a polluted environment, the Slovenian artist Marko Kumer Murč and Slovene environmentalists from Focus protest against European public and private banks pouring hundreds of millions of euros into a new lignite plant in their country, at Sostanj. Many Slovenians oppose this project and the Slovenian parliament has just refused to support a state guarantee for the banks’ loans. The action is supported by the international NGOs Banktrack and CEE Bankwatch Network, which are campaigning against the project.
Three new Czech incinerators to burn EU regional funds
October 13, 2011
Prague- CEE Bankwatch Network has learnt that the Czech Republic is planning to use 80% of regional funds dedicated to big waste projects for 2007-2013 [1] for the construction of new incinerators, which are three times more expensive than alternative waste management solutions.
Managers of EBRD-funded Kolubara mines in Serbia arrested for embezzlement
October 4, 2011
Belgrade -16 current and former members of the management of Serbian state-owned energy company Elektroprivreda Srbija (EPS) were arrested today and yesterday across the country over allegations of embezzlement of company funds. Some of these are people that the European Bank for Reconstruction and Development (EBRD) has entrusted this summer with managing an 80 million Euros loan for the development of the Kolubara lignite fields near Belgrade.
Resource Efficiency Roadmap must come with money from EU Budget
September 20, 2011
Brussels – The Resource Efficiency Roadmap published today by the European Commission envisages all kinds of right recommendations for Europe to become a renewable based, resource efficient economy but the actual value of this document depends largely on the EU budget.
EU funds for transport used overwhelmingly for polluting roads in central and eastern Europe
September 6, 2011
Brussels – CEE Bankwatch Network publishes today a study showing that central and eastern European governments have been using EU funds overwhelmingly for road over rail development, ignoring EU calls for decarbonisation of the transport sector. The Commission can make sure that this pattern is not replicated with the next EU Budget (2013-2020) by introducing strict conditionalities in the new Cohesion Policy regulation next month.
