Caucasus

This report examines a selection of cases monitored by CEE Bankwatch Network and its partners in recent years and highlights some of the weaknesses observed in the EBRD’s approach to environmental, social, democracy and development issues.

On 15 April 2016 the European Bank for Reconstruction and Development (EBRD) will mark its 25th anniversary. This opportunity should kick-start a debate about what the London-based public bank has achieved since it started operations in 1991 and to reflect on its future.

Countries of the European Neighbourhood have received a boost to their energy sectors in the last decade, thanks in part to the prominent role played by the EU as a catalyst of both policy reforms and financing. This study examines EU financing for the energy sector in 16 countries of the European Neighbourhood between 2007 and 2014.

In this declaration, the community of Khaishi, a village in the mountains in north west Georgia, called for a the cancellation of the contract for the construction of the 700MW Khudoni dam. Khaishi residents demand the recognition of customary land rights and the inclusion of Svans into the decision-making over the project.

The European Investment Bank (EIB) is in the early stage of assessing a loan for the 280 megawatt Nenskra hydropower plant, located on the Nenskra and Nakra rivers in the Caucasus mountain valleys inhabited by ethnic Svans. The poor quality assessment of the project, together with the neglect of the opinion of locals, threatens to aggravate the fading public acceptance of hydropower. With this project, the EIB and other potential international financiers have a chance to insist on changes to the imprudent course hydropower developments have taken in Georgia and to request tighter environmental and social regulations.