The European Investment Bank decided against funding the incinerator in Vinča over the targets in waste recycling and circular economy that are defined in chapter 27 of the talks about Serbia’s accession to the European Union, according to Don’t Let Belgrade Drown.

The finance institution estimated, the initiative’s representatives claim, that it acted in compliance with a “negative opinion by the European Commission,” but they failed to specify the document.

“Earlier, together with colleagues from the CEE Bankwatch Network, we informed the European Commission and the international and European banks participating in the project about the damage it would cause for the citizens of Serbia,” the organization said, insisting the construction of the facility for the generation of heat and power would be in collision with the EU’s Waste Framework Directive (WFD) 2008/98/EC.

The initiative added the solution pushed by the city administration doesn’t comply with the trade bloc’s environmental rules and that it would lead to even more severe air pollution with particles that cause cancer.

The activist group, known for its acronym NDMBGD, stressed the citizens of the country’s capital would also pay over €1.15 billion for it over thirty years and that the waste couldn’t be reused.

The European Bank for Reconstruction and Development has granted in early October a €75.25 million loan for the whole endeavor, including the rehabilitation of the site, located in Belgrade territory. EBRD has also revealed it would provide a syndicated loan of €35 million and another €21 million in a concession credit package financed by TaiwanICDF