News
[Press release] No public money for Nabucco - mega gas project a drain on clean energy, human rights and the environment, says Bankwatch
(September 6, 2010)
Budapest, Hungary – Reacting to today's announcement by the Nabucco Consortium that international public banks are now officially commencing their appraisal of the EUR 7.9 billion (estimated) Nabucco gas pipeline project, watchdog group CEE Bankwatch Network called on the international financiers to reject what would be record European public finance for the project and instead to focus on the financing of clean energy in central and eastern Europe, particularly climate-friendly, job-boosting energy efficiency.
As announced today, the Nabucco Consortium is seeking EUR 800 million from the International Finance Corporation (IFC), the World Bank's private lending arm, EUR 2 billion from the European Investment Bank, and EUR 1.2 billion from the European Bank for Reconstruction and Development (EBRD). In the case of the two European institutions, these would be unprecedented sums for one single fossil fuel project.
Piotr Trzaskowski, Bankwatch's Energy & Climate Coordinator, said: “Now that the gloves are off, and a mandate letter has been signed by the banks to start their official appraisal process, we would expect the terms of this mandate to be made fully available to the public, as it's clear that there is a wide range of hurdles to be cleared if the banks are to be able to satisfy their lending requirements and provide finance to Nabucco.
As announced today, the Nabucco Consortium is seeking EUR 800 million from the International Finance Corporation (IFC), the World Bank's private lending arm, EUR 2 billion from the European Investment Bank, and EUR 1.2 billion from the European Bank for Reconstruction and Development (EBRD). In the case of the two European institutions, these would be unprecedented sums for one single fossil fuel project.
Piotr Trzaskowski, Bankwatch's Energy & Climate Coordinator, said: “Now that the gloves are off, and a mandate letter has been signed by the banks to start their official appraisal process, we would expect the terms of this mandate to be made fully available to the public, as it's clear that there is a wide range of hurdles to be cleared if the banks are to be able to satisfy their lending requirements and provide finance to Nabucco.
[Highlight] European public banks need to do more on renewables and energy efficiency in southeast Europe says new Bankwatch study
(July 1, 2010)
A new Bankwatch study urges the international financial institutions (IFIs) to reverse the trend towards investments in climate-damaging fossil fuel projects and step up their financing for new renewables and energy efficiency in the region.
The report finds that 50 percent of the European Investment Bank’s energy investments in the region in the period 2002-2009 were for fossil fuel projects, with only nine percent for energy efficiency and renewables. 52 percent of the European Bank for Reconstruction and Development’s energy investments were for fossil fuel projects, with 28 percent in renewables and energy efficiency. The vast majority of the EBRD renewables and energy efficiency investments have been carried out in Bulgaria, with very few in the Western Balkans so far.
The report finds that 50 percent of the European Investment Bank’s energy investments in the region in the period 2002-2009 were for fossil fuel projects, with only nine percent for energy efficiency and renewables. 52 percent of the European Bank for Reconstruction and Development’s energy investments were for fossil fuel projects, with 28 percent in renewables and energy efficiency. The vast majority of the EBRD renewables and energy efficiency investments have been carried out in Bulgaria, with very few in the Western Balkans so far.
[Highlight] New blog on Gazela resettlement provides evidence of the challenges ahead
(February 8, 2010)
As a result of plans to renovate the Gazela Bridge over the River Sava in Belgrade, on 31 August 2009 the predominantly Roma inhabitants of the informal Gazela settlement were physically resettled. In total, 114 families considered to be from Belgrade were moved to temporary container accommodation in four locations at the outer edges of Belgrade, and 64 families were transported to their towns of origin in southern Serbia.
While the physical conditions have improved for families resettled near Belgrade - they are now living in container accommodation rather than shacks cobbled together from whatever they could find - large question marks remain over the plans for long-term accommodation and employment and the fate of those transported to southern Serbia.
Our blog 'Out of sight' aims to document how the resettled families are getting on in their new locations, what still needs to be improved in this resettlement project, and what should be done differently in future projects.
While the physical conditions have improved for families resettled near Belgrade - they are now living in container accommodation rather than shacks cobbled together from whatever they could find - large question marks remain over the plans for long-term accommodation and employment and the fate of those transported to southern Serbia.
Our blog 'Out of sight' aims to document how the resettled families are getting on in their new locations, what still needs to be improved in this resettlement project, and what should be done differently in future projects.
[Press release] Bulgarian parliament hears the anti-cyanide concerns of thousands
(January 21, 2010)
Today at the Bulgarian parliament's Petitions Committee three public petitions related to controversial mining initiatives were heard, in a process described by 'Cyanide Free Bulgaria' campaigners as “encouraging and not before time.”
Two of the petitions - one of 14 400 signatures supporting a legally binding cyanide ban across Bulgaria, the other 'For a clean Maritza River' aiming to prevent industrial pollution from mining - had been overlooked for two years, but following re-submission to the Petitions Committee in November last year were finally granted a hearing in the committee.
Daniel Popov, Bankwatch national coordinator in Bulgaria and member of the Cyanide Free Bulgaria coalition, said: “The fact that these petitions have been heard in the Bulgarian parliament's committee at all represents good progress for the thousands of people and hundreds of communities across Bulgaria that face the prospect of mining involving lethal chemicals taking place in their areas, next to their water sources, and usually without consultation.
Two of the petitions - one of 14 400 signatures supporting a legally binding cyanide ban across Bulgaria, the other 'For a clean Maritza River' aiming to prevent industrial pollution from mining - had been overlooked for two years, but following re-submission to the Petitions Committee in November last year were finally granted a hearing in the committee.
Daniel Popov, Bankwatch national coordinator in Bulgaria and member of the Cyanide Free Bulgaria coalition, said: “The fact that these petitions have been heard in the Bulgarian parliament's committee at all represents good progress for the thousands of people and hundreds of communities across Bulgaria that face the prospect of mining involving lethal chemicals taking place in their areas, next to their water sources, and usually without consultation.
