What Does EBRD Spend Money on in South Caucasus?

What Does EBRD Spend Money on in South Caucasus?


The European Bank for Reconstruction and Development will hold its 24th annual meeting in Tbilisi. How the civil society assesses the EBRD activities in the viewpoint of economic development of the countries of the South Caucasus. Chairperson of “Green Alternative” NGO, Coordinator of International CEE Bankwatch Network Manana Kochladze speaks about it with EcoLur:
-To what extent the bank activities comply with its standards and developing democracy?

 -Given that projects often cause the indignation of many people, while the bank says its applied best standards, we can say that the bank doesn’t give guarantees to the extent the EU legislation gives.  What about democracy, the bank says that democracy is not their business.
 - What are the funds spent on in the countries of South Caucases?

 - Big money goes to big infrastructure projects, energetic projects, mining industry and gas-oil sector. But even when project brings huge profit like oil projects in Azerbaijan, the profit is not transformed into social welfare and doesn’t serve the needs of the people.  When there is no profit distribution system, and the poor remains poor, economy is not developed, as majority of people are not involved in economic activities.

17:36 May 20, 2014


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