In an unambiguous letter Members of the European Parliament have reminded the European Investment Bank of the economic and environmental risks that the Šoštanj lignite power plant project poses for Europe and Slovenia.
Those were the words of Serbian Energy Minister Zorana Mihajlović, speaking last week in a press conference during which she announced that a thorough investigation is ongoing into corrupt practices by the management of the Kolubara mining complex.
A potential cooperation between the European Bank for Reconstruction and Development and the agro-corporation Monsanto has thankfully not come to fruition. The case highlights the difficulties for a large development bank to reach farmers on the ground.
Notwithstanding the dominance of lignite in Kosovo's energy mix, the European Bank for Reconstruction and Development may get involved with yet another lignite project in the Western Balkans.
Even with the latest investment plan for unit 6 at the Sostanj lignite power plant (TES 6), the project's economics are (surprise, surprise) still distinctly shaky as an independent analysis shows. Nonetheless, the project looks ever more likely to get a state guarantee from the Slovene government.
A protest action held today in front of the EBRD office in Kiev by Greenpeace and Bankwatch highlighted the dangers of Ukraine’s plans to prolong the operations of its 15 nuclear reactors. The groups called on the European Bank for Reconstruction and Development (EBRD) to take safety more seriously than Ukrainian authorities and invest in decommissioning rather than lifetime extensions.
The EU budget summit, the much-anticipated showdown featuring Europe’s 27 member states, the European Parliament, the European Commission and European Council president Herman van Rompuy over how much EU funding – and for what – is to be spent in the 2014-20 budgetary period, is now on. And all the talk is of what exactly to wear to this event.
The European Bank for Reconstruction and Development considers supporting one of the most criticised and controversial corporations on the planet, Monsanto. Reasons for deciding against it are plenty.
A $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.
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