Letter to EIB regarding the bank's Board discussion of the South Ukraine Transmission Project

The EIB is considering approval of the loan for Ukrenergo for the South Ukraine Transmission Project. Bankwatch member group NECU, as well as other concerned NGOs and individuals, have deep misgivings about the unexpected rush of the EIB in considering this project when currently its environmental impact assessment process is still ongoing according to EBRD and Ukrainian procedures, it is still far from being positively completed.

The letter raises a number of concerns regarding the project's environmental impacts, its technical and economic justification, transparency as well as its relation to the present political situation in Ukraine. NECU and Bankwatch urge the EIB not to approve the loan.