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Guest post: Development banks and the Arab Spring, new report takes stock

May 6, 2013

A new report takes a critical look at the engagement of European development banks in Egypt after the popular uprisings in the Middle East and North African region. This article appeared originally on the Counter Balance blog and has been shortened and slightly edited.

EBRD
EIB
World Bank Group
Social & economic impacts
Arab Sping, dictatorships, Egypt, employment, EU neighbourhood, human rights, PPP, public-private partnerships, Southern Mediterranean
Guest post: Never again Sostanj

March 20, 2013

Disappointed by loan disbursements to one of the dirtiest coal projects in Europe, almost 100 organisations have called on two public lenders to not repeat the same mistakes, ever.

EBRD
EIB
Energy & climate
Balkans, climate, coal, corruption, EBRD, EIB, energypolicy, EU, EU neighbourhood, fossil fuels, lignite, protest, TES6
A mostly accommodating lion's den - the second civil society meeting with the EIB Board of Directors

February 8, 2013

A meeting of civil society and the European Investment Bank's Board of Directors saw a surprising degree of agreement between two often adverse groups.

EIB
Energy & climate
Social & economic impacts
accountability, climate action, coal, development, EIB, energypolicy, EU, Global South, local impacts, meeting, transparency
Small shareholders protest price cap on lignite from Šoštanj's mine

February 6, 2013

With the dubious economics of the Šoštanj 6 lignite power plant depending partly on keeping the price of lignite low, small shareholders who would have to forego their profits are not thrilled at the prospect.

EIB
Energy & climate
Balkans, coal, economics, energypolicy, EU, fossils fuels, shareholders, TES6
Members of European Parliament call on EIB not to finance Slovene lignite power plant

January 31, 2013

In an unambiguous letter Members of the European Parliament have reminded the European Investment Bank of the economic and environmental risks that the Šoštanj lignite power plant project poses for Europe and Slovenia.

EIB
Energy & climate
Balkans, coal, corruption, EU, fossil fuels, MEP, Peterle, Sostanj, TES6, Turmes, van Brempt
The worst company of the year - Vote for Alstom in the People's Public Eye Awards 2013

January 8, 2013

Alstom, the constructor for the Sostanj lignite power plant might just be the worst company of the year. You can vote for Alstom in the Public Eye Awards until January 23.

EBRD
EIB
Energy & climate
Balkans, corruption, EU, fossil fuels
Financial alchemy in Slovenia's energy sector still results in lignite, not gold

December 11, 2012

Even with the latest investment plan for unit 6 at the Sostanj lignite power plant (TES 6), the project's economics are (surprise, surprise) still distinctly shaky as an independent analysis shows. Nonetheless, the project looks ever more likely to get a state guarantee from the Slovene government.

EBRD
EIB
Energy & climate
Balkans, coal, EBRD, EIB, EU, fossil fuels, lignite, TES6
First major project in Egypt reveals transparency oversight by European public banks

November 13, 2012

A $3.7 billion PPP oil refinery expansion in Cairo is accompanied by contradictory project documents, making a mockery of claims by the public banks involved to be committed to “good governance” or democracy. Despite being presented as merely translations of one document, the Arabic and English “versions” are entirely different – with the Arabic markedly cursory and superficial.

EBRD
EIB
Energy & climate
Social & economic impacts
Arab Sping, Cairo, EU neighbourhood, local impacts, oil, pollution, PPP, Southern Mediterranean, transparency, water
Public-private partnerships in the EU at lowest level for ten years, but more blood transfusions from project bonds coming soon

November 7, 2012

Although public-private partnerships appear to become increasingly untenable for public authorities, they are further being promoted by the European Commission and the European Investment Bank. An official in-depth evaluation of this financing model, however, is still nowhere to be seen.

EIB
Social & economic impacts
CEE, crisis, EU, PFI, PPP, public debt, public infrastructure
Crunch time at Sostanj

November 5, 2012

November is shaping up to be crunch time for a new 600 MW lignite plant planned to be built at Sostanj in Slovenia. If the Slovenian government doesn’t manage to offer a state guarantee for loans from European public banks that should cover half the construction costs by the end of this month, the project could fail. At Bankwatch, we’re preparing our popcorn for the latest Sostanj thriller, on show across Europe this month.

EBRD
EIB
Energy & climate
Balkans, corruption, EU, fossil fuels, OLAF, Slovenia, Sostanj, TES6

Two European public banks are currently reviewing their energy lending policies. We call for an end to coal subsidies.

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