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INSTITUTIONS WE MONITOR
European Bank for Reconstruction and Development (EBRD)
Established to promote transition to market-oriented economies in the countries of central and eastern Europe and Central Asia, the EBRD’s lending often fails to benefit the people in these countries and regularly prioritises carbon-intensive and environmentally damaging development.
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OUR PROJECTS
Indorama Agro: Uzbekistan’s infamous cotton producer
Despite being Uzbekistan’s largest cotton producer and receiving millions in development loans from the European Bank for Reconstruction and Development (EBRD), the Asian Development Bank (ADB) and the International Finance Corporation (IFC) – institutions that promote modernisation and corporate responsibility – Indorama Agro faces multiple complaints of worker mistreatment and retaliation.
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LATEST UPDATES
Western Balkans: Chaotic, opaque selection process for EU infrastructure funding needs major improvements
The EU’s Western Balkans Investment Framework (WBIF) has spent billions of euros on infrastructure, mainly in transport and energy. But our new analysis, examining how countries choose projects to nominate for funding, finds a chaotic situation vulnerable to politically-driven decision-making. Clearer rules, public participation and earlier information disclosure are urgently needed.
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European Investment Bank (EIB)
With a lending portfolio of EUR 72 billion (2010) the European Investment Bank (EIB) is one of the world’s biggest public lending institution – bigger even than the World Bank.
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Zarafshan, Bash and Dzhankeldy wind projects, Uzbekistan
The first large wind projects in the Central Asian country are being built in biodiversity hotspots and hinder the declaration of protected areas. The IFC, EBRD and ADB need to ensure that some of the most problematic turbines are moved away.
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Even with hard work, a just transition needs long-term support
The small town of Turceni in southwest Romania has long been a lignite stronghold. But its enormous coal power plant is gradually being closed. A team from Bankwatch recently visited and spoke to the deputy mayor about the town’s efforts to ensure a just transition.
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A new budget for a new Europe
For the European Union and its Member States to become more sustainable societies, the EU’s financial resources have to be spent towards consuming less energy and using resources more efficiently.
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Upper Horizons hydropower scheme, Bosnia and Herzegovina
A series of dams, diversion tunnels, hydropower plants and channels will completely change the natural hydrology of eastern Herzegovina and have unpredictable impacts on wetlands, rivers and underground karst.
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From coal to clean energy: A Romanian initiative for sustainable employment
The transition to a low-carbon economic model is a radical paradigm shift that requires transformation at all levels, from individual behaviour to entire economic sectors. But it’s also an unprecedented opportunity to reinvent our relationship with the economy, one that respects nature and planetary boundaries.
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