Recommendations for the EBRD’s Public Information Policy based on comparative analysis of IFC and other disclosure policies
May 30, 2011
The current draft of the European Bank for Reconstruction and Development’s public information policy lacks several provisions and innovations which should be considered the latest best practice in information disclosure in multilateral development banks.
Are we nearly there yet? Dilemmas of transition after 20 years of EBRD’s operations
May 20, 2011
As the European Bank for Reconstruction and Development celebrates twenty years of market and democracy promotion in central and eastern Europe, Bankwatch evaluates the institution’s activities since its inception and concludes the bank needs to move swiftly and genuinely towards prioritizing social justice and lowering carbon intensity of economies, if it wants to bring real benefits to the region.
Bankwatch Mail 48
May 19, 2011
On the occasion of the EBRD’s 20th anniversary, Bankwatch Mail is complemented by a range of personal reflections from people both within and beyond central and eastern Europe, people who have worked directly on issues related to the EBRD, or who have studied the bank’s impacts.
Vlora Thermo Power Plant, Albania – where is the electricity?
May 15, 2011
The oil and gas-fired thermo-power plant in Vlora, Albania – in a tourism-dependent city and only 100 metres from the protected Narta lagoon – was financed by the EBRD, the European Investment Bank and the World Bank. After a slew of problems, including lack of proper public consultation, the plant is not actually working – two years after it was supposed to have been completed – and it is increasingly doubtful whether it will start to produce electricity any time soon.
Ukrainian transmission lines – a vehicle for dirty electricity to the EU
May 15, 2011
The EBRD is and has been involved in a number of high voltage electricity transmission lines in Ukraine that eventually would lay the technical groundwork to export nuclear and coal-based electricity to the EU. In the Ukrainian electricity transmission field, the EBRD should focus its efforts on utilising the massive potential to increase the reliability and efficiency of Ukraine’s energy system through the modernisation of existing grid, especially low-voltage local grid below 110kV where power losses now are two times higher than average in the EU.
Are safety upgrades and lifetime extensions synonyms in the Ukrainian nuclear sector?
May 15, 2011
In November 2010 the EBRD, together with the European Union, announced its involvement in the EUR 1.2 billion Nuclear Power Plant (NPP) safety upgrade project for Ukraine. While safety upgrades at first appear a positive initiative, this project makes sense only in the context of NPP lifetime extensions, otherwise there is no reason to finance costly upgrades for facilities that will anyway close in a couple of years. And though the project promoter clearly links these safety upgrades with lifetime extensions, the EBRD is reticent to do so.
EBRD and Sostanj Unit 6 – serious questions about EBRD project appraisal
May 15, 2011
In 2010, the EBRD approved a EUR 100 million loan for the Sostanj lignite power plant unit 6 (TES 6) project with a further EUR 100 million syndicated to commercial banks. A recent report on the management of the project has important implications for the EBRD’s involvement and raises questions about the project appraisal process that led the EBRD to approve the project.
The EBRD and the Polish coal sector
May 15, 2011
The Polish energy market is dominated by coal, but two thirds of the installed coal capacity is older than 30 years. The EBRD could play a crucial role in the restructuring of this market by providing financial assistance to energy efficiency projects and renewable energy and at the same time refraining from further fossil fuel investments. Update: The EBRD confirmed during later meetings that it will not finance any coal project in Poland.
Paravani Hydro Power Plant, Georgia
May 15, 2011
The Turkish company Georgian Urban Energy (GUE) has requested a USD 44 million EBRD loan for the Paravani HPP, an 87 MW plant using a 14 km derivation tunnel in order to divert water from the Paravani river to the Mtkvari river. Bankwatch member group Green Alternative has deep concerns regarding the project’s potential negative impacts as well as its overall justification.
Ombla Hydro Power Plant, Croatia
May 15, 2011
The hydropower plant, planned to be constructed underground in a karst area near Dubrovnik, brings with it specific hydrological and ecological impacts, particularly on cave-dwelling species. Consequently, the Environmental Impact Assessment (EIA) process is of utmost importance, but has been held 11 years before the beginning of procurement. Opportunities for the public to comment on and influence the project’s decision making process have thus been highly questionable.
