EBRD Annual Meeting 2022

The EBRD has made significant investments in solar, wind and energy efficiency in recent years. But these have been undermined by its continued support for fossil fuels. This April, a EUR 98 million loan for the Greece to North Macedonia pipeline was approved, despite major leaks in the Bank’s rationale for supporting it. Recent delays have further exposed the flawed assumptions behind the project, as our new briefing shows.

This briefing takes an updated look at the Greece – North Macedonia gas interconnector project and concludes that the arguments in favour of the project are still not supported by convincing evidence and that the claimed benefits are highly unlikely to materialise.

Using case studies from Belgrade, Sarajevo and Skopje, our report examines urban planning practices, the consequences of poor governance, and the need for sustainable infrastructure investment.