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More gold money lined up for controversial EBRD client

Bankwatch Mail | 14 December, 2012 | Download PDF

The EBRD’s board of directors is set to decide on December 12 whether or not to extend further significant financing to Canadian gold mining firm Dundee Precious Metals (DPM). This time the EBRD may invest up to USD 45 million in a ‘five-year revolving corporate debt facility’ to DPM valued at USD 150 million.

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Connecting Europe Facility – connecting who, and what, exactly?

Bankwatch Mail | 14 December, 2012 | Download PDF

The economic crisis has accelerated the development of new financial instruments for the next EU budget period in 2014-2020. The main intention behind these instruments is to deliver substantial levels of new investment money from increasingly limited public resources in order to plot a path towards Europe’s economic recovery.

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A useless sham – Review of the Oyu Tolgoi Copper and Gold Mine Environmental and Social Impact Assessment

Study | 14 December, 2012 | Download PDF

The potentially EBRD supported Oyu Tolgoi copper/gold mine in southern Mongolia project poses significant adverse social and environmental impacts. This in-dept review – based on our own research as well as that of expert reviewers – shows that the Environmental and Social Impact Assessment (ESIA) is a non-starter and deeply flawed. The study is complemented by detailed expert analyses in five annexes.

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Contest for citizens ideas for a better EU budget – awarded projects

Briefing | 14 December, 2012 | Download PDF

Bankwatch’s Better Ideas competition invited ideas for projects could be financed by EU funds and that best contribute to the sustainable development in people’s communities. These are the winning projects in each of the participating countries.

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Bankwatch Mail 54

Bankwatch Mail | 14 December, 2012 | Download PDF

In the ‘aftergloom’ of two major inter-governmental get-togethers – the latest UN climate talks in Doha and the EU budget summit in Brussels – Bankwatch Mail 54 discusses the revision of the energy lending policies at both the EIB and the EBRD – an opportune moment for both banks to show real climate ambition and turn their backs on fossil fuels. In an interview the new EBRD president Sir Suma Chakrabarti shows that much is moving as the bank juggles such hot potatoes as potential support for Monsanto’s expansion into our region while trying to lay down new roots in post-Arab Spring north Africa.

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