Significant failures were found in the project\u2019s compliance with the environmental and social policies of the European Bank for Reconstruction and Development (EBRD) and the European Investment Bank (EIB).<\/p>\n\n\n\n
After more than two years of investigation, the Nenskra hydropower plant (HPP) project in Georgia was found non-compliant with the standards of two international financial institutions.1<\/sup> The investigation\u00a0of the\u00a0long-debated Nenskra HPP<\/a>, planned to be constructed in the Svaneti mountains of Georgia,\u00a0was launched after complaints2<\/sup>\u00a0were submitted to the EBRD and EIB in 2018 by CEE Bankwatch Network, Georgian non-governmental organisation Green Alternative, and community representatives from the potentially affected areas.\u00a0<\/p>\n\n\n\n Both the EBRD and EIB have approved loans for the Nenskra HPP project, in the amount of USD 214 million and USD 150 million respectively. However, neither has signed the final loan contracts yet. The Asian Development Bank and the Asian Infrastructure Investment Bank are also involved in the project and are currently considering loans totalling USD 414 million. <\/p>\n\n\n\n
The project does not meet the banks\u2019 requirements in the following areas of human rights and environmental protection: indigenous people\u2019s rights, the protection of cultural heritage, gender issues, assessment and management of environmental and social impacts, information disclosure and engagement of local communities and other stakeholders.<\/p>\n\n\n\n