Bankwatch

Armenia hosts COP17: The Amulsar gold mine undermines its biodiversity credentials

Michaela Kozminova — Mon, 09 Nov 2026 11:25:01 +0100

In 2026, Armenia will host the UN Biodiversity Conference (COP 17), presenting itself as a global leader in biodiversity protection. However, just one week before the conference began, operations at the controversial Amulsar gold mine were launched, threatening the region's biodiversity, including endangered species of wildlife, rivers and the Lake Sevan.

Unlocking complaints mechanisms at multilateral development banks: A toolkit for civil society

Michaela Kozminova — Wed, 04 Nov 2026 15:50:34 +0100

This toolkit for civil society explains how the accountability mechanisms of multilateral development banks work and gives practical guidance on how people and communities affected by bank-financed projects can prepare and submit complaints. It aims to help them understand their rights, access these mechanisms and voice their concerns.

EIB must tighten oversight of Georgia’s East–West Highway projects amid authoritarian crackdown

Michaela Kozminova — Mon, 26 Oct 2026 12:05:23 +0100

Georgia has been in authoritarian freefall since spring 2024. In response, the European Investment Bank (EIB), in line with the EU’s position, has not issued any new sovereign loans to the country. However, the Bank still holds a significant active portfolio there, including the East-West Highway (E60) road projects, in which it has invested a total of almost EUR 250 million. In this brief we document several of the environmental and social costs that the Bank has failed to account for.

Leaving no one behind? LGBTIQ+ inclusion in EIB policies, safeguards and investments

Michaela Kozminova — Wed, 21 Oct 2026 12:54:21 +0200

The European Investment Bank (EIB) has established a range of policy and safeguarding frameworks to promote gender equality, non-discrimination, and social inclusion across its operations. However, despite these commitments, the EIB’s current policy architecture does not coherently promote and protect the rights of LGBTIQ+ people throughout the project cycle. This briefing outlines the challenges faced by the EIB in fully implementing its inclusion framework in restrictive contexts such as Uzbekistan, Hungary and Georgia when financing projects in these countries. The publication makes several recommendations to the EIB to strengthen protections for LGBTIQ+ people in countries where legal and social barriers hinder equal participation in development.

Еcological networks in Montenegro: Strategic Roadmap to achieve the targets of the Convention on Biological Diversity, the Bern Convention and the EU Biodiversity Strategy

Gosia Zubowicz — Wed, 21 Oct 2026 11:52:07 +0200

Montenegro has made substantial progress toward achieving the target under the Convention on Biological Diversity (CBD) by proposing a comprehensive Natura 2000 network covering 44.15% of its total terrestrial and marine territory. But proposing the sites is just the beginning, as an effective conservation and management of these areas are needed. Check more materials prepared for UN Biodiversity Conference, COP17.

Dighomi Meadows: Years of institutional failure risk erasing last floodplain forest in Tbilisi, Georgia

Michaela Kozminova — Wed, 21 Oct 2026 09:43:40 +0200

The Dighomi Meadows, a once rich and varied natural habitat and an internationally recognised Emerald Network site, have been in danger since 2014 due to encroaching development, unregulated and illegal gravel extraction, and illegal waste dumping. In 2024, the Asian Development Bank (ADB) approved a strategy and action plan to rehabilitate the meadows. However, the restoration never materialised as the ADB failed to secure a commitment from Tbilisi City Hall to implement the strategy. Preparatory work for a stadium began in February 2026, exceeding the permitted boundary by June of that year, and construction waste was dumped in a protected turtle and bird habitat.

EIB in Ukraine: Recovery funds slow to reach communities

Dimitar Dimitrovski — Mon, 19 Oct 2026 16:16:03 +0200

This briefing looks at how well European Investment Bank (EIB) financing supports Ukraine’s recovery and whether it delivers on the Bank’s climate commitments. It examines how recovery projects are being implemented, the gap between signed loans and funds actually disbursed, weaknesses in project preparation and monitoring, and the environmental and climate impacts of the projects financed. It calls for better-prepared projects, more transparent data and measurable climate results, so that EIB financing supports a sustainable and resilient recovery.

Advancing sustainable municipal waste management in Ukraine: Lviv agglomeration case study

Gosia Zubowicz — Wed, 14 Oct 2026 18:23:25 +0200

This report provides an evidence-based analysis along with recommendations for national, regional and local authorities – as well as international financial institutions – on how to establish an integrated and inclusive waste management system in Ukraine, drawing on both local data and EU-aligned best practices from the Lviv agglomeration.

Updated civil society proposals for amendments to the Ukraine Plan ahead of its next review

Dimitar Dimitrovski — Mon, 12 Oct 2026 16:58:30 +0200

In March 2026, together with our partner organisations, we submitted a joint statement setting out 34 proposals for amendments to the Ukraine Plan, based on the Roadmap for the Sustainable Recovery of Ukraine. In June, the Ukrainian government agreed amendments to the Plan with the European Commission, and on 30 July 2026 the Council approved them, opening the way for an additional EUR 8.3 billion in support for Ukraine in 2026 through the Ukraine Support Loan. We have compared the amended Annex to Council Implementing Decision (EU) 2024/1447 with the Annex approved in 2024. The Annex sets out the qualitative and quantitative steps Ukraine must fulfil under the Plan, the quarter by which each step is due, and the payment instalments linked to them. Driven by the conditionality attached to the Ukraine Support Loan Regulation, the amendments focus mainly on the rule of law and anti-corruption – an emphasis we welcome. Two of our proposals are reflected in the adopted text: amendments to the Procedure for State Water Monitoring and a new step extending Regulation (EC) No 1370/2007 to socially important rail passenger services. The environmental and climate dimension of the Plan still needs to be strengthened in future rounds of amendments, so we have updated our proposals. They are now organised by Ukraine Plan chapter and mapped to the corresponding negotiating chapters and clusters of the EU acquis. The full list is available in the document below.

Letter to the World Bank Board on the Serbia – Strategic Gas Infrastructure and Institutional Strengthening Project

Gosia Zubowicz — Tue, 22 Sep 2026 16:04:16 +0200

In this joint letter we urge the World Bank Board to defer approval of the Serbia – Strategic Gas Infrastructure and Institutional Strengthening Project, and request a fundamental reassessment of its rationale, alternatives and climate compatibility. The proposed IBRD commitment of USD 195.5 million would finance a new gas transmission pipeline and institutional reforms in Serbia's energy sector. Serbia is already having trouble meeting its existing gas needs, and has refused to stop buying Russian gas due to its lower prices. Yet the country is planning to massively increase consumption by building new gas power plants. International financial institutions should not be encouraging such short-sighted moves, and must align with the EU, which has stopped financing gas infrastructure in the Western Balkans.