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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.


Unsustainable energy future for EU neighbourhood region challenged

Bankwatch Mail | 14 December, 2012 | Download PDF

Europe’s neighbouring countries, from the Western Balkans to Ukraine, are intent on pursuing unsustainable energy futures that rely heavily on coal and nuclear. The draft energy strategy of the European Energy Community, recently open for public comments, is no big departure from the national plans, as Bankwatch found out when compiling comments to the draft – and, moreover, this reliance on coal and nuclear energy could end up receiving EU support and financing.


More questions than answers as new EBRD mining policy is chiseled out

Bankwatch Mail | 14 December, 2012 | Download PDF

After long delays and more than three years in the making, the European Bank for Reconstruction and Development (EBRD) finally in early November published its new mining sector policy. Yet both the consultation process and the final outcome have left “consulted stakeholders” disappointed.


More gold money lined up for controversial EBRD client

Bankwatch Mail | 14 December, 2012 | Download PDF

The EBRD’s board of directors is set to decide on December 12 whether or not to extend further significant financing to Canadian gold mining firm Dundee Precious Metals (DPM). This time the EBRD may invest up to USD 45 million in a ‘five-year revolving corporate debt facility’ to DPM valued at USD 150 million.


Connecting Europe Facility – connecting who, and what, exactly?

Bankwatch Mail | 14 December, 2012 | Download PDF

The economic crisis has accelerated the development of new financial instruments for the next EU budget period in 2014-2020. The main intention behind these instruments is to deliver substantial levels of new investment money from increasingly limited public resources in order to plot a path towards Europe’s economic recovery.