Southern Mediterranean

This report examines a selection of cases monitored by CEE Bankwatch Network and its partners in recent years and highlights some of the weaknesses observed in the EBRD’s approach to environmental, social, democracy and development issues.

On 15 April 2016 the European Bank for Reconstruction and Development (EBRD) will mark its 25th anniversary. This opportunity should kick-start a debate about what the London-based public bank has achieved since it started operations in 1991 and to reflect on its future.

Countries of the European Neighbourhood have received a boost to their energy sectors in the last decade, thanks in part to the prominent role played by the EU as a catalyst of both policy reforms and financing. This study examines EU financing for the energy sector in 16 countries of the European Neighbourhood between 2007 and 2014.

Bankwatch has been taking a look at EU financing for the energy sector in 16 European Neighbourhood countries between 2007 and 2014. Alarmingly, our research has uncovered that out of at least EUR 9 billion provided by the EU to energy projects in the ENP region during the period under assessment, more than EUR 4.2 billion in financing went to hydrocarbons in contrast to the EUR 1.5 billion awarded to low carbon sources of energy and energy efficiency projects.

The North Giza Power Plant II, 1500 MW natural gas-fired power plant, is one of several large gas power plants that the Egyptian government is developing since 2011 in an effort to cope with the electricity gap. The power plant uses Combined Cycle Gas Turbine technology and the project promoters claim it is energy efficient, eco-friendly and community inclusive. Both the local community and the findings from a field trip strongly dispute these claims.