debt

Financial trouble of Ukraine's nuclear operator calls Europe's financial support into question

Energoatom is currently unable to serve loans from European institutions. Even though a European Commission study assessed the company’s credit worthiness, Ukrainian taxpayers now have to pay back part of the loans.

Tags: debt Energoatom Euratom nuclear safety state guarantee CEE EU neighbourhood

Institution: EBRD

Theme: Energy & climate, Social & economic impacts

Castor project sends Project Bonds Initiative shockwaves, taxpayers hit worst

Bankwatch Mail | December 2, 2014

In July 2013, the much-hyped joint European commission/EIB 'Project Bond Initiative' (PBI) had scarcely got off the ground – in its pilot phase at least – when unusual natural events took over. Work at the EUR 1.7 billion Castor underground gas storage plant off the coast of Valencia commenced in summer 2013. But by mid-September the Spanish government was forced to halt work at the plant after 220 mini earthquakes in the area were detected in less than a month. Local residents reported the tremors following injections of natural gas to prepare Castor for operations. Subsequent research has found that the gas injection provoked 1,000 earthquakes in the region.

Institution: EIB

Theme: Social & economic impacts

Proposed EU loan would make Tunisia's debt problems worse, say CSOs

March 28, 2014

- MEPs to vote on new loan in April.
- Tunisia is already paying more to its Western creditors than it receives in loans and grants, and almost all of the new loan would be used for debt repayments.

Civil society groups from Tunisia and Europe are urging the European Parliament to concentrate on debt relief instead of voting through a EUR 300 million loan to Tunisia, arguing that this will only add to the country’s huge existing debt burden.

Institution: EIB, World Bank Group

Theme: Social & economic impacts

Tags: debt, MENA, Tunisia, EU neighbourhood, Southern Mediterranean

The EIB in Greece: by the numbers

As Europe’s financial establishment braces for the results of tomorrow’s Greek elections and Eurozone officials dangle the carrot of a new European Investment Bank programme in front of Athens, we’ve prepared a snapshot of previous EIB loans in the country. [1] [2] [3] [4] (NB: any tricolour similarities are entirely coincidental.)

Tags: austerity crisis debt economics EIB eurozone graph Greece numbers EU

Institution: EIB

Theme: Energy & climate, Social & economic impacts

Infrastructure in the developing world: does it need PPPs?

Public-private partnerships have garnered a lot of criticism but continue to be on the agenda of international development banks as a alternative way to finance infrastructure.

Tags: debt development infrastructure PFI PPP public services Global South