Thirsty hydropower: misuse of drinking water pipelines has destroyed a river in Bulgaria
March 30, 2021
The Blagoevgradska Bistritsa hydropower cascade was planned to use only the drinking water of the town of Blagoevgrad. Eight years later, it has used more than double the water allowed, leaving the river ‘even without frogs’. Our latest report shows the need for more scrutiny of EIB and EBRD lending through intermediary banks.
Why is the EIB still hiding one-third of its lending?
March 4, 2021
The EU’s house bank must keep up with its peers on disclosure of financial intermediary investments
EBRD tightens standards in response to Balkan hydropower boom
May 16, 2019
As a result of public resistance to small-scale hydropower projects in the Balkans, from the beginning of 2020, the EBRD will ask commercial banks to refer all high-risk projects – including all hydropower plants – for additional checks. The EBRD also requires them to meet higher environmental standards than previously. The bank will ask that such projects are disclosed to the public on the financial intermediary’s website, finally increasing disclosure on these hitherto hidden projects.
New report highlights misuse of banking secrecy rules
March 26, 2019
BankTrack’s study finds that client confidentiality is not an absolute legal requirement in any of the world’s major banking centres. Banks can – and do – include the right to disclose information into their contracts. Will the EIB & EBRD acknowledge this in their policies on intermediated lending?
CSO letter to the EBRD on the revision of the Good Governance policies related to Financial Intermediaries (FIs)
March 13, 2019
The undersigned CSOs welcome this opportunity to submit comments on the EBRD’s revision of its environmental and Social Policy, Access to Information Policy and Project Accountability Policy relating to financial intermediary lending. As it was documen
Milestone bank summit in Belgrade a step towards protecting Balkan rivers, but greater transparency still needed
March 1, 2019
For immediate release. Belgrade – The ‘Save the Blue Heart of Europe’ campaign [1] gave a cautious welcome to a first-of-its-kind summit between the financial sector and green activists, where a roundtable about the role of banks in the destruction of Balkan rivers by hydropower dams was centre stage.
Calling the EIB for a state-of-the-art policy on financial intermediaries
January 25, 2019
The signatories request the EIB Directors to require from the Bank’s Management to create a state-of-the-art Standard for Financial Intermediaries that will enhance the environmental, social and transparency performance of these operations while mainta
European Investment Bank and financial intermediaries: key issues and way forward
September 30, 2018
Counter Balance, Bankwatch and partners have identified a persistent lack of transparency and assessment of the economic, environmental and social impact of the EIB’s intermediated operations, which may undermine development impacts. So far they have n
Low-carbon transition as it should be: three steps for the EBRD to have fewer headaches with hydropower projects
May 10, 2018
While it is positive that banks want to finance the much-needed transition away from coal towards renewable energy in the Balkans, it is crucial to ensure that the cure is not worse than the disease. Most of the projects planned in the Balkans are smal
The EBRD strategy for Uzbekistan
May 9, 2018
Changes in the approach to governance put forward by the President Shavkat Mirziyoyev deserve to be encouraged by the international community. It is natural that the EBRD is ready to provide support to a country willing to accelerate reforms. However,
