Bankwatch

Archives for European Bank for Reconstruction Development

Despite the Russian invasion in Ukraine leading to EU and US sanctions against Moscow and major Russian energy companies, public banks supported by EU countries are just gearing up to offer a one billion dollar loan to Russian company Lukoil for gas extraction in Azerbaijan. by Fidanka Bacheva McGrath, cross-posted from the Bankwatch blog Half… » read more

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With Ukraine’s ongoing fight for sovereignty and integrity emphasising once more the country’s energy vulnerability in front of Russia, the need to radically reform the Ukrainian energy sector became crucial for the survival of the country. And yet, moves in this direction are way too slow. Despite positive rhetoric on the need to prioritise energy… » read more

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New cases of arbitrary repression against civil society happened in the run-up to the presidential elections in Egypt. A look at the loans so far approved by the European Bank for Reconstruction and Development suggests that those in power have been more successful in receiving the bank’s support. by Kuba Gogolewski, cross-posted from the Bankwatch… » read more

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The European Bank for Reconstruction and Development praises its own achievements in the agricultural sector. A look at Ukraine, however, reveals how sustainable food provision, local communities and the quality of soil are falling by the wayside with the bank’s focus on big industrial operations. by Natalie Kolomiets, cross-posted from the Bankwatch blog Over the… » read more

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As activists pointed out at a consultation meeting in Tbilisi, Georgia’s hydropower sector has plenty of lessons to be learned by the European Bank for Reconstruction and Development. by David Chipashvili, cross-posted from the Bankwatch blog Yesterday in Tbilisi, during a public consultation on the good governance policies of the European Bank for Reconstruction and… » read more

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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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