This letter to the European Bank for Reconstruction and Development's Board of Directors summarises civil society organisations' concerns regarding bank's Project Complaints Mechanism, specifically the handling of several complaints, and makes specific recommendations for improvements, based on experience with these cases and with the accountability mechanisms of other institutions.

An inquiry from Polish and European NGOs to the EIB about its planned support of EUR 250 million for the modernisation and extension of Polish utility Energa’s electricity distribution network.

The European Investment Bank is known to have provided over EUR 22 million for the construction of at least 19 small and mini hydropower plants through financial intermediaries in Bosnia and Herzegovina, Croatia, Macedonia and Serbia between 2010 and 2014.2 However, the public has in most cases no idea which ones, thus creating a major hole in the bank’s accountability.

In September 2016 the European Commission published its proposal for the prolongation of the EFSI until 2020, to be achieved by amending the existing regulation. We welcome several improvements, but are concerned that they fall short of properly tackling the challenges and shortcomings identified, namely to provide additionality and catalyse the unambiguous move to reduce GHG reductions. On the basis of our in depth report Best Laid Plans, which analysed the 93 projects approved until July 2016 and further analysis of the EFSI entire portfolio till the end of 2016 under the Infrastructure and Innovation Window (IIW), we consider that the EFSI regulation needs considerable improvements in the energy area.