Bankwatch

Steel giant ArcelorMittal

ArcelorMittal is the largest steel company in the world, producing approximately 8 per cent of the world’s steel output. But the cost of its success has largely been paid by the people living and working near the company’s plants, because of the ArcelorMittal's frequent disregard for the environment and fair labour practices.

Institution: EBRD, EIB

Theme: Energy & climate, Social & economic impacts, Other harmful projects

Kolubara lignite mine, Serbia

Linked to a slew of controversies, the Kolubara lignite mine in Serbia will receive loans from European public banks. Corruption allegations, pollution at local level, irregularities in resettlement of local populations and not to forget a climate damaging approach to energy investments should be reason enough to find alternatives to lignite mining.

Institution: EBRD

Theme: Energy & climate, Social & economic impacts

Activists ask if the EBRD is good for Egypt

July 27, 2011

Source: Brett Borkan, Daily News Egypt

CAIRO: As the European Bank for Reconstruction and Development (EBRD) moves closer to expanding its operations into Egypt, activists have questioned whether such a move would be beneficial for the country.

Institution: EBRD

Europäisches Fördergeld für Ausbau klimaschädlicher Braunkohlemine

July 27, 2011

Source: Katrin Aue, DAPD

Berlin/London - Der serbische Energieversorger EPS bekommt einen 80-Millionen-Euro-Kredit aus Steuermitteln für den Ausbau des Braunkohlebergwerks Kolubara. Das beschloss die Europäische Bank für Wiederaufbau und Entwicklung (EBRD) am Mittwoch in London. Mit dem Geld solle die Produktion modernisiert werden. Die Förderbank bezeichnete die Investition als Mittel zur "Erhöhung der Umweltstandards".

Institution: EBRD

Tbilisi’s Discount Rail Bypass

July 26, 2011

Source: Tsira Gvasalia, Transitions online

An internationally backed project will route hazardous cargo out of the city center, but residents in its path say they’re being offered a pittance in exchange for valuable land and a way of life.

Institution: EBRD

Local actors sidelined in decisions about the future of EU pre-accession funds

July 25, 2011

Source: Ana Colovic, BlogActiv

Regardless of the EU’s ups and downs, most people in Eastern Europe are still likely to believe that membership can help improve their lives. For pre-accession countries (Western Balkans, Turkey, Iceland), financial assistance from the EU in the form of IPA (the Instrument for Pre-Accession Assistance) is considered an important opportunity to promote development.

Institution: EU Funds

Letter to EBRD: Call to reject Kolubara project based on pressing human rights and climate concerns

Advocacy letter | July 25, 2011

Serbian and international civil society organisations call on the EBRD board of directors not to finance the Kolubara lignite mine project since it would constitute the indirect support of human rights violations committed by the project promoter and furthering coal dependency in the Serbian energy sector.

Institution: EBRD

Theme: Energy & climate, Social & economic impacts

EBRD Board of Directors must face responsibility for long-term partner EPS’ wrongdoings

July 25, 2011

Belgrade – Today, over 70 protesters from the Vreoci community is gathering in front of the Belgrade EBRD offices to protest abusive practices by state-owned Elektroprivreda Srbija (EPS), in London, the bank’s Board of Directors is congratulating itself for another profitable deal with the energy company. The EBRD cannot continue to brush off responsibility for corruption acts and human rights abuses committed by their long-term business partner.

Institution: EBRD

Theme: Energy & climate, Social & economic impacts

Energoatom director confirms EBRD money will support nuclear lifespan expansion

July 22, 2011

The “Ukrainian NPP Safety Upgrade Package Program” currently under consideration for financing by the EBRD, will enable the lifespan expansion of old Soviet-time nuclear reactors, confirmed Gennady Sazonov, project and investment director of the production company Atomproektinzhynirynh, speaking during the first public consultations on the draft ecological assessment of the programme that was held in Kiev early this week.

Institution: EBRD

Theme: Energy & climate

EBRD should not condone illegal resettlements and corruption by investing in Kolubara

July 21, 2011

Belgrade – Next week, the EBRD is deciding whether to invest 80 million Euros in the Kolubara „environmental improvement” project in Serbia. With the help of this money, state-owned Elektroprivreda Srbija (EPS) will expand lignite production in Serbia at the cost of forcefully resettling local communities. CEKOR and CEE Bankwatch Network urge the EBRD to rethink this investment.

Institution: EBRD

Theme: Energy & climate