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25 Jul 2022

EIB response to EECA hydropower investor outreach

... These answers are based on the only investment approved by the EIB mentioned in your report, as well on the general EIB approach to financing operations in this sector:

  1. Did EIB assess real and/or potential adverse human rights impacts connected to the above investments?

Yes. All projects financed by the EIB are subject to an in-depth due diligence process and need to comply with the Bank’s environmental and social standards, including on human rights issues. This was also the case for the Nenskra HPP project. The outcome of the EIB environmental and Social due diligence of the project is reflected in the Bank’s Environmental and Social Data Sheet (ESDS) published on the EIB website.

2. How does EIB monitor progress on its efforts to address human rights risks and impacts of these investments?

The EIB monitors projects from the signature of the loan contract through the project implementation and operation phase until the loan is paid back. Monitoring requirements are determined according to the characteristics of each project.

In the case of the Nenskra HPP project, and although no EIB financing has taken place yet, the EIB is closely working with the project promoter, the other financiers and all the other stakeholders concerned, to address the different issues related to the project. ...