Europe’s PPP crisis – European Commission and EIB magic up the ‘project bonds’ elixir
Bankwatch Mail | 14 December, 2012 | Download PDF
Although public authorities appear increasingly to be turning their backs on public-private partnerships (PPPs) for delivery of services and the provision of infrastructure, the beleaguered investment vehicle continues to be aggressively promoted by the European Commission and the European Investment Bank (EIB). An official in-depth evaluation of this financing model, however, remains long overdue.
Some points of departure – interview with the new president of the EBRD
Bankwatch Mail | 14 December, 2012 | Download PDF
Sir Suma Chakrabarti became the sixth president of the EBRD this summer. Bankwatch Mail caught up with him recently to ask him his views on the bank’s operations in central and eastern Europe and, now, further afield, as well as on a few of the more acute issues that are currently high on the agenda – both for the EBRD and watchdog organisations like Bankwatch.
IFI negligence rife at first major post-revolution project in Egypt
Bankwatch Mail | 14 December, 2012 | Download PDF
A USD 3.7 billion PPP oil refinery expansion in Cairo is accompanied by contradictory project documents, making a mockery of claims by the public banks involved to be committed to ‘good governance’ or democracy. Despite being presented as merely translations of one document, the Arabic and English ‘versions’ are entirely different – with the Arabic markedly cursory and superficial.
Never a dull moment in Slovene power plant soap opera
Bankwatch Mail | 14 December, 2012 | Download PDF
On November 30, the same day as the national government was under fire in the most heated protests Slovenia has seen in years, Slovenia’s ministers of finance and infrastructure added fuel to the flames by signing contracts with Simon Tot, director of the Sostanj lignite power plant for the controversial EUR 1.3 billion Sostanj Unit 6. These contracts prepare the ground for the signing of a state guarantee contract for a EUR 440 million loan from the European Investment Bank (EIB) for the project.
Grey area alert – IFI sponsored PPPs the latest big thing in Kazakhstan
Bankwatch Mail | 14 December, 2012 | Download PDF
While it is not to be unexpected for the public to attempt to scrutinise the effective performance of governmental agencies, in recent years in Kazakhstan it has been far from obvious that many resources and services, projects and finances are being provided by international financial institutions (IFIs). Indeed, very often it is the IFIs that act as catalysts for various government programs, reforms and ideas that are subsequently adapted via the bureaucratic apparatus to Kazakhstan’s reality.
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