Victory for civil society as EBRD cancels loan for controversial Croatian dam
28 May, 2013
Zagreb, May 28 – Croatian electricity company HEP and the European Bank for Reconstruction and Development (EBRD) have cancelled a EUR 123 million loan contract for the controversial Ombla underground hydropower plant near Dubrovnik, HEP has announced yesterday. The EBRD financing would have covered the biggest bulk of the EUR 152.4 million estimated to be needed for construction.
Read moreGroups oppose European bank’s plan to finance oil drilling in Egypt
27 May, 2013
On Wednesday 29 May the European Bank for Reconstruction & Development (EBRD) will vote on whether to make a $40 million loan to Kuwait Energy to drill and extract oil in Egypt. Egyptian and international organisations are pushing the board of the public multilateral bank to reject the loan – or at least postpone its decision.
Read moreEU leaders support green energy campaign: The European Council calls for phasing out fossil fuel subsidies
23 May, 2013
Just as Bankwatch published a new infographic juxtaposing the European Investment Bank’s beneficial and harmful energy lending, Europe’s political leaders have set a priority for energy investments to phase out fossil fuel subsidies and focus on clean energy instead.
Read moreThe European Investment Bank’s energy lending: stuck in the past or facing the future?
23 May, 2013
The European Investment Bank, the house bank of the European Union, which directs a fifth of its annual lending portfolio of 60 to 70 billion euros to energy projects, is currently reviewing the policy document that guides its lending to the power sector. On this occasion, Bankwatch is publishing a poster of positive and negative examples of the bank’s lending to energy projects.
Read moreEnergy efficiency becoming more central to future EU spending in the Czech Republic – thanks to NGO calls
21 May, 2013
Energy efficiency has now become a priority for EU funding in the Czech Republic for the forthcoming 2014-2020 budgetary period.
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