Is Egypt just stuck in transition or heading away from democracy? Considerations for the EBRD
10 January, 2014
Six months after the Egyptian army deposed Egypt’s first freely elected president, the weak democratic signals by the authorities are overshadowed by widespread repression. How can the European Bank for Reconstruction and Development possibly help under these circumstances? Or put differently: Will the limited benefits to the country’s private sector from EBRD engagement really be enough to outweigh the harm done by the bank’s support for an undemocratic regime?
Read moreLitmus test for EBRD rhetoric on democracy with Egyptian oil project
19 December, 2013
On December 18 the EBRD board of directors approved a loan of USD 50 million to finance a project aimed at the expansion of oil operations and reducing gas flaring in Egypt. Yet the tenuous political situation in the country continues to raise concerns about the bank’s ability to make a positive contribution towards the democratic process, and whether it should be investing there at all.
Read moreSounding out the EBRD’s energy strategy: little ambition besides scrapping coal
13 December, 2013
At a closer look the EBRD’s new energy strategy, complimented for the restrictions it places on coal lending, reveals a shocking lack of operational knowledge to implement the ambitions outlined in its executive summary.
Read moreEBRD joins other financial institutions in restricting coal lending
10 December, 2013
The European Bank for Reconstruction and Development (EBRD) approved today during a vote of its Board of Directors a new Energy Strategy. The document is meant to give guidance on how to strategically use the bank’s resources over the next years to promote energy security and affordability and avoid dangerous climate change.
Read moreEBRD soft on coal sector corruption, new analysis shows
9 December, 2013
The European Bank for Reconstruction and Development has been approving financing for coal projects over which corruption allegations loom, and in some cases even while official corruption investigations were underway, according to an analysis published by CEE Bankwatch Network today.
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