European banks: Nenskra HPP does not meet international standards
Tbilisi. According to information released by “Green Alternative”, after a two-year investigation, the appeal mechanism of two largest European banks revealed that a Nenskra hydroelectric power plant project, planned in Svaneti, did not comply with international standards;
“The issue is all about requirements of the European Bank for Reconstruction and Development (EBRD) and the European Investment Bank (EIB), financiers of Nenskra HPP, a significant part of which requirements the project fails to meet. In particular, Nenskra HPP does not comply with standards of banks in such fundamental issues as: rights of indigenous population, protection of cultural heritage, study of alternatives of the project, gender issues, transparency of information, competence of representatives of a company implementing the Nenskra HPP project”.
Source: greenalt.org
