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Pressure mounts on EBRD to quit Macedonian dam folly

Bankwatch Mail | 14 May, 2015 | Download PDF

Macedonia’s Mavrovo national park is the largest and richest national park in the country and home to the critically endangered Balkan Lynx. The Macedonian government, however, has plans to also make Mavrovo the home for two large and around 20 small hydro power plants. Could the EBRD cancel its involvement in one of the projects?


Where will all that power go? New study assesses extravagant energy ambitions in the western Balkans

Bankwatch Mail | 14 May, 2015 | Download PDF

Western Balkan countries have ambitious plans to increase their electricity generation over the next years. But what will happen if they all become a regional energy hub? Will there be a demand for all the available electricity?


EBRD digs in deeper with Serbian coal king

Bankwatch Mail | 14 May, 2015 | Download PDF

Earlier this year, Serbian media reported that the EBRD was considering providing a new EUR 200 million loan for the financial restructuring of the state-owned electric utility power company of Serbia, EPS. The EBRD Director for Serbia, Mateo Patrone, was quoted by B92.net saying that the loan is aimed at helping the financial restructuring of EPS. Meanwhile, the EBRD’s country strategy for Serbia, approved by its board of directors last April, highlights the bank’s “key role in promoting energy efficiency and renewable energy” for the country.


Bankwatch fact-finding mission to Tunisia reveals major flaws in EBRD oil and gas investment

Bankwatch Mail | 14 May, 2015 | Download PDF

In July 2013 the EBRD approved its second loan in Tunisia, to Serinus Energy. With the EBRD investment portfolio in Tunisia standing at the end of 2014 at EUR 212 million the Serinus Energy loan represents roughly 25 percent of all EBRD loans in Tunisia to date and is the only loan to have gone to the country’s natural resources and energy sector. With such a significance, therefore, surely the EBRD would make every effort to ensure that the project meets the Performance Requirements of its own Environmental and social policy (from 2008) and that it demonstrates a positive transition impact for Tunisia?


Ohrid – Peshtani expressway project, Macedonia

Briefing | 13 May, 2015 | Download PDF

The project involves the construction of a new section between Ohrid and Pestani on the A3 express ‘Kosel’ to the Albanian border crossing at Ljubanishta. The new 12.5 kilometre section is at a higher elevation than the existing coastal road and towns and will pass through the Galicica National Park. This projects is part of a sovereign guaranteed loan of up to EUR 160 million.