Bankwatch publications on local economy in EU funding
The publication links lead to Bankwatch’s main website.
- Corporate loans – the rotten apple in EBRD’s Environmental and Social Policy? April 18, 2019
As the Board of Directors is expected to vote any day now on the renewed Policy which lays out the conditions for reaching the Bank’s sustainability mandate and commitment to EU standards, a compliance review on Serbia’s energy company’s corporate restructuring loan calls for clearer and stronger safeguards for corporate level loans.
- Will the EBRD Make a Better Offer on Public Information Disclosure and Engagement? March 28, 2019
The European Bank for Reconstruction and Development (EBRD) will soon conclude the revision of three policies central to the environmental and social governance of its projects: the Access to Information Policy, Environmental and Social Policy, and Project Accountability Policy. Together, these three documents will form the core of the institution’s protocols ensuring communities’ right to information, right to development, and right to remedy.
- When the EU’s bank can’t kick the fossil fuels habit March 27, 2019
As the European Investment Bank (EIB) is nowadays preparing a new Energy Lending Policy to guide its investment in energy projects, it seems the world’s largest public lender is not willing to acknowledge its contribution to climate change, the biggest crisis currently facing humanity.
- New report highlights misuse of banking secrecy rules March 26, 2019
BankTrack's study finds that client confidentiality is not an absolute legal requirement in any of the world’s major banking centres. Banks can – and do – include the right to disclose information into their contracts. Will the EIB & EBRD acknowledge this in their policies on intermediated lending?
- EIB and Volkswagen keen to return to business as usual March 7, 2019
Long overdue, and short on content, a compact version of the investigation report on the role of EIB money in the Dieselgate scandal affirms Bankwatch’s revelations that helped trigger this important inquiry. But in its aftermath, there is little to suggest that the EU’s bank has done anything to ensure that the public money it manages will not be misused.
- A billions-worth problem March 6, 2019
Clean air has become a rarity in the Western Balkans, and so has proper air quality monitoring. In Europe, a whooping EUR 11 billion in lost productivity and health costs caused by air pollution from coal plants in the region dwarf the investments in the implementation of air quality legislation. The result is an incomplete and unreliable air quality monitoring system.
- New investigation in Kresna gorge reveals another major breach of law February 15, 2019
An independent investigation by a Bulgarian TV channel bTV discovered progressing construction works in the Kresna gorge area even though the official procurement procedure is still ongoing.
- Croatian coal plant must not be resurrected February 13, 2019
The Plomin 1 coal plant, on Croatia's Istrian coast, is already 50 years old. In 2017 it closed due to a fire. Yet the Croatian Ministry of Environmental Protection and Energy looks set to allow Plomin 1’s owner, HEP, to bring it back from the dead without even an environmental impact assessment.
- Macedonian hydropower complaint highlights EBRD’s enduring opacity February 11, 2019
After almost a year of struggling to get basic environmental information from the EBRD about the Krapska hydropower project, Bankwatch has submitted an official complaint  to the bank’s Secretary General. As we run the same administrative circles over and over again, another precious river valley has been irreversibly damaged.
- Changing lives and doing no harm February 8, 2019
“We invest in changing lives” is the slogan of the European Bank for Reconstruction and Development, whose investments in 2018 reached EUR 9.5 billion through 395 projects. Whether the change is for better depends on the bank’s environmental and human rights safeguards.