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Backing the wrong horse. The EBRD and Mochovce (1995)

Author	Global 2000
Date	April 1995
Classification	2.40.9.90/03 (SLOVAKIA - OTHER FACILITIES)
Front

Backing the Wrong Horse- The EBRD and Mochovce

Introduction

"EBRD Facing Nuclear Fallout", "A Nuclear Nightmare" and "The Most 
Controversial EBRD Decision to Date"- these are the words that journalists have used 
to describe the impending EBRD decision whether or not to fund completion of the 
Mochovce Nuclear Power Plant in Slovakia. Indeed the Mochovce decision is the 
most controversial and important decision the Bank has yet made.

Despite international opposition and concern, members of the staff and management 
of the EBRD have continued to actively and aggressively support the proposal by 
the French and Slovak utilities to complete Mochovce. The opposition to the plan, 
however, has come from numerous sources including EBRD member governments 
(Austria, Denmark, Luxembourg, Netherlands, Norway and Portugal), millions of 
people in Slovakia and neighbouring countries, the European Parliament, and 
hundreds of environmental groups and environmental and energy experts 
throughout the world including members of the Banks own environmental 
advisory committee (ENVAC).

The controversy about the Mochovce decision has focused on a number of key 
questions: Will Mochovce be safe? Is Mochovce the Least Cost option for electricity 
generation in Slovakia?, and, Will completion of Mochovce bring about the closure 
of the V1units of the Bohunice nuclear power plant? This document provides the 
view of environmental NGOs on these questions. In addition this document examines 
the importance of the Mochovce decision on the future of energy production and use 
in Central and Eastern Europe and the important sign it will provide for energy 
investors. 

There can be no doubt that the Mochovce decision will be a turning point in shaping 
future energy policies and practices in the region. In recent weeks various plans have 
been proposed involving EBRD financing for nuclear power plant upgrades or 
completion in Ukraine, Romania, and Bulgaria. A positive decision on the Mochovce 
project by the BBRD will open the door to these and other projects and establish the 
EBRD as the Nuclear Bank. The management and staff of the BBRD in supporting 
such initiatives, however, are backing the wrong horse - a horse running down a path 
from the past that will continue to impoverish Central and Eastern Europe with an 
outdated and unsafe energy system. The option exists for the EBRD to support 
initiatives that help the region achieve a modem and environmentally friendly 
energy system.

To achieve that goal the EBRD must immediately remove the Mochovce project 
from the project pipeline and declare itself committed to achieving the realization 
of alternatives. The 1995 annual meeting provides the ideal opportunity to do that.

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