World Bank and Others Poised to Invest in Rio Tinto’s Flawed Mongolian Mining Project
24 September, 2012
Ulaanbaatar, Mongolia — The World Bank Board of Directors has announced plans to consider a copper and gold mining project in the Mongolian South Gobi desert even though the Bank itself acknowledges that there is not enough water in the region to support the life of the Project. Despite ongoing community opposition to Rio Tinto’s Oyu Tolgoi mine and its associated facilities (“OT Project”), the World Bank is considering a financing package of US$900 million in loans and up to US$1 billion in political risk insurance for the OT Project in early November.
Read moreThe EBRD in Mongolia: Economic diversity is something else
18 September, 2012
Investment data for Mongolia illustrates that without improving the European Bank for Reconstruction and Development’s plans for the mining sector, the bank may add to the dependence on raw materials exports in resource rich countries.
Read moreEBRD should not invest in Polish energy company suspected of corruption, say European NGOs
17 September, 2012
Warsaw – The European Bank for Reconstruction and Development is considering participating in a EUR 772 million loan for a subsidiary of major Polish energy group ENEA, whose management is currently being investigated by authorities because of alleged irregularities in management and misuse of public funds.
Read moreAnother case of alleged corruption in a CEE energy company
17 September, 2012
Alleged corruption at Poland’s second biggest state-owned energy company ENEA S.A. may compromise yet another project financed by European public banks.
Read moreNo Half Measures: Investment Needs in Energy Efficiency and Renewables in Central and Eastern Europe
13 September, 2012
Brussels — At least 172 billion euros need to be invested in energy efficiency and renewables in central and eastern Europe over the next seven years to kick start the decarbonisation of the region and create hundreds of thousands of much needed jobs, shows a study published today by CEE Bankwatch Network [1]. The next EU budget (2014-2020) could contribute to these needs if current short-sighted attempts by some member states to cut the overall size of the budget are prevented.
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