Litmus 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.
Read moreGet your EU funds house in order – Hungarian group takes climate and jobs appeal direct to government’s doorstep
6 December, 2013
With only a few weeks to go now until final crucial decisions are taken that will determine Hungary’s EU spending plans for the next seven years, Bankwatch’s Hungarian member group MTVSZ decided last week that it was about time the Hungarian government got its house in order when it comes to beneficial EU allocations for cutting domestic energy bills, stimulating the Hungarian economy and fighting climate change.
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