2008 Annual Meeting EBRD (Kiev, May 18-19) | News and updates
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Western High Speed Diameter: strategic risks of a strategic projectby Vera PonomarevaThe Western High Speed Diameter (WHSD) is a 46 kilometre toll motorway, part of the IX Pan-European Transport Corridor linking St. Petersburg with Scandinavia. The road has been presented as a strategic investment priority for St. Petersburg by the Russian authorities and international financiers as it is going to be the first public-private partnership in Russia as well as the first toll road in Russia. Yet there are serious doubts that the WHSD will make St. Petersburg a better place. | ||
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Who wants it? Who needs it? The Vlora coastal terminal, Albaniaby Merita Mansaku-MeksiDevelopment (EBRD). The terminal is to be located inside the industry park near a thermo-power plant which has already received lending support from the EBRD, European Investment Bank and the World Bank’s International Development Association. | ||
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Environmental activity of the LUKOIL Company in Komiby Tamara MakarovaIn May 2007 the LUKOIL Company signed a USD 300 million loan contract with the EBRD and other multilateral banks to finance an environmental security scheme of the LUKOIL group subsidiaries. The borrowed funds were supposed to be used for implementing environmental projects by a number of company divisions including LUKOIL Komi LLC. The loan is believed to help decrease the volume of associated gas, reduce water consumption and pollutant content in sewage, arrange waste management and reconstruct industrial pipelines. | ||
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Introduction of cyanide leaching at the Chelopech gold and copper mineby Daniel PopovThe Chelopech Mining project is separated in two parts: Phase 1 focusing on environmental improvements; and Phase 2 proposing the expansion of metals production through the introduction of cyanide leaching technology. EBRD approved a USD 10 million loan for Phase 1 in 2004. Phase 2 has been under review since 2005, and there has been no progress due to the blocking of the project by the Bulgarian Ministry for the Environment and Waters at the Environmental Impact Assessment (EIA) stage in March 2006. | ||
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EBRD water projects in Georgiaby David ChipashviliSince Georgia’s independence in the early 1990s, due to financial constraints maintenance and repair works at most of the water utilities have been neglected. In order to improve the situation in the water sector, several Georgian city councils have approached the EBRD for financing. While some of the aims of the projects should be welcomed, the decision-making processes, implementation of the projects and the lack of public consultation has caused concerns about the outcomes of the projects. | ||
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Kaniv Pumped Storage Plant, Ukraineby Iryna HolovkoThe EBRD continues to assert the need to increase power efficiency and to develop renewable energy sources. This is why NECU are not entirely clear about the apparent readiness of the EBRD to support a project which has so many weak points and is an integral part of the national strategy that includes measures which have been criticised by the EBRD’s experts. The EBRD should be making efforts to help the Ukrainian government develop a power strategy which is much more effective. | ||
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EBRD support for ArcelorMittal Temirtau is failing to stem pollution and accidentsby Dana SadykovaIn 2007 the EBRD approved a USD 100 million loan for ArcelorMittal Temirtau (AMT), a metal and mining complex in the Karaganda region of Central Kazakhstan in order to “support further improvements to Mittal Steel Temirtau’s health and safety practices at its coal mines in Karaganda with the aim to bring them in line with international best practice”. | ||
