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Energy lending in south-eastern Europe

South-eastern Europe is riddled with poor planning and corruption in the energy sector and its governments are proving slow to react to the challenges and opportunities offered by the decarbonisation agenda.


Above: planned coal power plants in south-eastern Europe

This should be an opportunity for international lenders like the EBRD, the EIB and the World Bank to promote energy efficiency and sustainable renewables to shift the region's energy sectors towards lower carbon emissions.

So far, however, it is only happening in a few positive exceptions as our study and the projects that we monitor show.

Infographic
The damaging Projects of Energy Community Interest (click to see full size)

Note: This infographic is out of date. It contains projects that were not accepted as priority projects. For comparison, see the final list of approved PECIs.

The European Energy Community


The European Energy Community was established between the EU and a number of third countries in order to extend the EU internal energy market to south-eastern Europe and beyond. (Members include the EU, Albania, Bosnia and Herzegovina, Croatia, Macedonia, Montenegro, Serbia, Moldova, Kosovo, plus Ukraine.)

The Community's priority projects, however, are set to include several environmentally damaging coal and hydropower projects that will be fast-tracked for financing over the next years.

Read more:
Dirty power plants in Europe's Neighbourhood set to become EU priority
Press release | October 22, 2013

Western Balkans and Ukraine: EC-backed Energy Community to prioritise coal plants that threaten EU long-term climate targets (pdf)
Briefing | October 22, 2013

 

 

Related news


Press release | November 1, 2008

3000 citizens from the city of Vlora in Albania held a large protest rally this weekend at the coastal site that has been designated as the construction site for an oil and gas terminal and a thermo power plant. The protestors called on national institutions to respect their right to a local referendum on the constructions. They also urged the World Bank, the European Bank for Reconstruction and Development (EBRD) and the European Investment Bank (EIB) not to provide finance for projects that do not respect local public rights to participate in decision making and that will have strong negative impacts in the very sensitive area of Vlora Bay. [1]

EBRD
EIB
World Bank Group
Balkans
Balkans
Blog entry | July 21, 2008

The European Bank for Reconstruction and Development is no longer considering financing for a controversial hydrocarbons terminal in Vlora, Albania.

EBRD
EIB
World Bank Group
Energy & climate
Other harmful projects
Press release | April 14, 2008

The district court in Vlora, Albania last week released three members of the Civic Alliance for the Protection of Vlora Bay [1] who were arrested and detained for two weeks after protesting against the construction of a hydrocarbons terminal in Vlora. The terminal, regarded by the protestors as bringing few benefits to the local economy in exchange for high environmental risks, is being built by the Italian investor La Petrolifera Italo Rumena. The project is currently seeking a EUR 15 million credit from the European Bank for Reconstruction and Development (EBRD).

EBRD
EIB
World Bank Group
Energy & climate
Other harmful projects
Balkans
Blog entry | March 11, 2008

The Civic Alliance for the Protection of the Vlora Bay, a local Albanian initiative group, continued on Sunday to press for a referendum on an oil deposit and a thermo-power plant being constructed north of the town of Vlora on Albania's Adriatic coast.

EBRD
EIB
World Bank Group
Energy & climate
Other harmful projects
Blog entry | January 22, 2008

Close to 3000 residents of Vlora, an Albanian city on the Adriatic coast, greeted the visit of representatives of the World Banks Inspection Panel with a clear plea - end World Bank credits for the EUR 110m thermal power plant that is part of a huge energy park development threatening the sensitive Vlora bay.

EBRD
EIB
World Bank Group
Energy & climate
Other harmful projects