Policy on corporate loans based on PCM CRR on the EPS Restructuring project
May 6, 2019
The PCM has finalised the Compliance Review Report (CRR) of the EPS Restructuring project and has closed the case without further monitoring. We welcome the recommendation that clarification of the policy framework and strategic guidance are urgently r
Corporate loans – the rotten apple in EBRD’s Environmental and Social Policy?
April 18, 2019
As the Board of Directors is expected to vote any day now on the renewed Policy which lays out the conditions for reaching the Bank’s sustainability mandate and commitment to EU standards, a compliance review on Serbia’s energy company’s corporate restructuring loan calls for clearer and stronger safeguards for corporate level loans.
China-backed coal projects prompt climate change fears
November 22, 2018
A new unit at a Serbian coal-fired power station focuses concerns on China’s role in global warming. Source: China-backed coal projects prompt climate change fears
Serbia is mining away a green future
September 10, 2018
Serbia’s notorious Drmno mine is rapidly expanding on Chinese loans, pushing the country towards high-carbon lock-in and a long-term debt.
China must walk its EU standards talk
July 6, 2018
The seventh Central and Eastern Europe-China “16+1” summit for heads of state is set to take place this week in Sofia, Bulgaria, on the heels of an EU initiative on screening Foreign Direct Investments in the areas of security and public order. The EU initiative comes amidst concerns of increased foreign direct investments – including Chinese – going into strategic and sensitive sectors in Europe.
The great coal jobs fraud (2018 UPDATE)
June 28, 2018
This study, an update of our November 2016 analysis, examines the claims and finds that in almost all cases, they are exaggerated. In fact, even the current levels of employment cannot be maintained and some companies such as Elektroprivreda Srbije and
The loan that made sense until it didn’t
May 11, 2018
During the annual meetings of the European Bank for Reconstruction and Development, the bank is the subject of a complaint for policy violations via a EUR 200 million loan to Serbia’s state-owned energy utility: money earmarked to prepare the fossil fuels-based company for the realities of adhering to stricter EU legislation will instead enable it to extract and burn even more fossil fuels.
EPS restructuring loan
May 10, 2018
Despite its commitments to increase the share of renewables under the Energy Community and reduce greenhouse gas emissions within the process of EU accession, the Serbian government seems determined to remain locked-in to a carbon intensive energy syst
Serbia pushes ahead with beleaguered coal plant at Kostolac
November 20, 2017
For the third time, Serbia has announced that construction will start at Kostolac B3, in spite of problems at the project persisting since the start of the permitting process.
Balkan governments unprepared for new EU pollution rules
August 17, 2017
New EU rules entering into force today, to limit pollution from power plants, will also apply in most Western Balkan countries. But the region’s governments are so far acting like they don’t exist.
