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Archives for EBRD

Six months after the Egyptian army deposed Egypt’s first freely elected president, the weak democratic signals by the authorities are overshadowed by widespread repression. How can the European Bank for Reconstruction and Development possibly help under these circumstances? Or put differently: Will the limited benefits to the country’s private sector from EBRD engagement really be… » read more

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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… » read more

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Complimented for its restrictions of coal lending, a closer look at the EBRD’s new energy strategy reveals a shocking lack of operational knowledge to implement the ambitions outlined in its executive summary. by Ionut Apostol, cross-posted from the Bankwatch blog On Tuesday this week, the European Bank for Reconstruction and Development (EBRD) approved a new… » read more

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EBRD soldiering on in Egypt

Adding to the ongoing febrile atmosphere in the country, Egypt’s military-backed authorities just yesterday passed a controversial new law that imposes draconian restrictions on public protest. Meanwhile, in recent weeks the European Bank for Reconstruction and Development has reconfirmed its intention to remain active in the country – despite a number of serious doubts still… » read more

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With the United Kingdom, another major shareholder of the European Bank for Reconstruction and Development is divesting from coal overseas. What does this mean for the upcoming decision on the EBRD’s energy strategy? by Fidanka Bacheva-McGrath, cross-posted from the Bankwatch blog The UK government yesterday announced that it would “end support for public financing of… » read more

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As the European Bank for Reconstruction and Development revises its safeguard policies, the Aid Transparency Index ranks its commitment to openness and transparency as the weakest in comparison with similar institutions. by Fidanka Bacheva-McGrath, cross-posted from the Bankwatch blog The 2013 Aid Transparency Index came out last week and confirmed my suspicion that the EBRD… » read more

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In an open letter sent today to the President of the European Bank for Reconstruction and Development 54 civil society organisations follow up from last weeks consultations on the bank’s new energy sector strategy and ask the president to ensure that the EBRD addresses the challenges of climate change with the urgency it deserves. We… » read more

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Land expropriation and corruption have been two recurring themes at the Kolubara mine. This week’s arrests indicate that they are closely connected. by Zvezdan Kalmar, cross-posted from the Bankwatch blog Recent developments in Serbia forebode gloomy times for the country’s energy company EPS. After the European Bank for Reconstruction and Development’s confirmation on Friday that… » read more

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With another public action, colleagues in Moscow are today bringing to a close a week that has seen the European Bank for Reconstruction and Development having to listen to a lot of uncomfortable truths. by Pippa Gallop, cross-posted from the Bankwatch blog During this week’s EBRD consultation meetings on its new energy sector strategy it… » read more

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The global campaign to make the European Bank for Reconstruction and Development restrict its coal lending may have found new allies in Nordic countries after their declaration yesterday to seize overseas coal investments. by Sven Haertig-Tokarz, cross-posted from the Bankwatch blog These are truly exciting weeks for climate campaigners, especially those targeting development banks and… » read more

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