The unexplained backtracking of the EBRD and Tbilisi City Hall: why did they keep the contract with a Russian company?
March 13, 2023
The European Bank for Reconstruction and Development (EBRD) is providing funding to Tbilisi City Hall to purchase metro cars for the Georgian capital’s metro system from a Russian company, Metrowagonmash. The company is part of Transmashholding, whose shareholders – Russian oligarchs Iskander Makhmudov and Andrey Bokarev – are closely linked with the Kremlin and its defence industry. Metrowagonmash’s sister company is also reportedly providing engines for Russian warships.
March 2, 2022
The Russian army’s invasion of Ukraine is a tragedy for both Ukraine and Russia, causing needless destruction, death, heartbreak and hardship. Bankwatch stands with our friends, colleagues and the communities that we work with, and demands action from international financial institutions.
February 23, 2017
Ministers, ambassadors and envoys from at least 15 countries, including Maroš Šefčovič, the European Commission’s Vice President for the Energy Union, are gathered today in the Azerbaijani capital to discuss the progress on the Southern Gas Corridor, t
September 20, 2016
Russia’s plan to revive the Turkish Stream pipeline and the Interconnector Turkey-Greece-Italy (ITGI) project could put future projects along the proposed Southern Gas Corridor under even more pressure. Gulmira Rzayeva, senior research fellow at Azerba
September 11, 2015
Yuzhno-Sakhalinsk, Russia – Sakhalin Environment Watch (SEW), Bankwatch member group in Russia’s far east, has been ordered by the Russian authorities to register itself as a ‘foreign agent’. The group rejects claims it is engaged in any political activity, and intends to contest the decision. If the decision is not repealed, the group will consider shutting down.
August 13, 2015
To make sure Latvia’s energy path does not lead into a dead end for sustainability, the Energy Union should facilitate alternatives to unsustainable fuelwood.
January 21, 2015
The study explains why the Southern Gas Corridor, the EU’s new pet energy project, is not only unnecessary in light of gas demand projections, but also seems likely to fall short on the much flaunted goal of bringing energy independence from Russia.
December 9, 2014
The letters were sent shortly before the EBRD’s board of directors are to approve a loan for the Naftogaz Emergency Pipeline Upgrade and Modernisation project. Since the project has not yet passed through all environmental and social procedures, Bankwatch asked the EBRD’s president and its board in separate letters to postpone the board decision. Letter to the EBRD president >> (pdf)
November 21, 2014
With Ukraine’s ongoing fight for sovereignty and integrity emphasising once more the country’s energy vulnerability in front of Russia, the need to radically reform the Ukrainian energy sector became crucial for the survival of the country. And yet, moves in this direction are way too slow. Despite positive rhetoric on the need to prioritise energy efficiency, some European donors such as the European Bank for Reconstruction and Development continue with business as usual, spending huge resources on large infrastructure projects that do not address the country’s immediate need for improved energy security.
September 26, 2014
The recent rejection to release Evgeny Vitishko’s, an imprisoned environmental activist in Russia, illustrates the backlash against fundamental rights and freedoms in some countries. Multilateral development banks need to take notice of this trend and be more wary of the risk that their lending may strengthen authoritarian regimes.