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EBRD maintaining relations with Turkmenistan regime

Bankwatch Mail | 14 May, 2012 | Download PDF

Following the EBRD’s controvesial adoption in 2010 of a ‘calibrated strategic approach’ to guide its activities in the totalitarian state of Turkmenistan, annual discussions between the bank and civil society organisations have been taking place, with the most recent last month.


Private equity and development: a bad joke that’s laughing all the way to the bank

Bankwatch Mail | 14 May, 2012 | Download PDF

For ‘development’ activists used to fighting the excesses of project finance, it’s a bizarre shift. Instead of touting the usual dams and mines, in recent years ‘development’ banks have gone a step further: giving money directly to hedge funds, private equity firms and financial intermediaries, the croupiers of casino capitalism who almost ruined the world economy back in 2007-8 and are well on their way to ruining it properly this time around.


Green initiatives compromised by private equity

Bankwatch Mail | 14 May, 2012 | Download PDF

A new greenfield gas cogeneration power plant Cogen in the north of Slovakia is planned to produce power and heat. It is to be financially supported by both the European Investment Bank and the European Bank for Reconstruction and Development through the private equity EnerCap Power Fund.


Kiev-Chop road rehabilitation

Briefing | 14 May, 2012 | Download PDF

The rehabilitation of Kiev-Chop road project that received support from the EBRD and the EIB (each EUR 200 million) was supposed to rehabilitate the M06 Kiev-Chop Highway to European standards. Although the project was rated Category B (without significant adverse environmental impacts) it has seriously affected the life of the villagers of Bolyarka and Berezivka (Vasilivsky district, Zhitomir region) that are located along the rehabilitated road. The briefing is based on a letter sent to the EBRD’s Environmental Department in April 2012.


Bankwatch Mail 52

Bankwatch Mail | 14 May, 2012 | Download PDF

Issue 52 of our quarterly newsletter is a special double edition as this week sees the annual meetings of two of our target institutions, the EIB and the EBRD. Both banks are attracting widspread coverage: the EIB for its potential role in a belated EU-wide drive for growth; the EBRD as it prepares to extend its operations beyond central and eastern Europe into the North Africa region and as it decides on a new president.