Tag Archives: Egypt

Out for Summer, Episode 3: EIB Promoting development in Egypt – at what cost?

After the Arab Springs, the European Investment Bank (EIB) and the European Bank for Reconstruction and Development (EBRD) engaged in the support of the country’s transition to democracy, endorsing the priorities of el-Sisi’s new government: energy and economic development. But a few years later, the human rights situation in the country still raises big concerns, […]

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Lost in transition: Far-reaching changes needed as European bank marks 25 years

On April 15, the European Bank for Reconstruction and Development (EBRD) will be marking its 25th anniversary. Reflecting on two decades of monitoring the EBRD’s policies and projects, a new report from CEE Bankwatch Network raises concerns about a growing gap between the bank’s operations and its mandate. The full report Lost in Transition: 25 […]

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More repression, more money – Financing transtion in Egypt

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. This blog was written by Kuba Gogelewski, […]

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Egypt lost $10 billion in corrupt gas contracts, as daily blackouts spread

Egypt lost $10 billion in gas revenues from 2005-2011, according to a report launched yesterday by EIPR and Platform in arabic. Contracts signed during the Mubarak years allowed the export of billions of cubic metres of underpriced gas to Jordan, Spain and Israeli-occupied Palestine. Some of the individuals behind these deals were convicted of corruption. […]

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Ontwikkeling als dekmantel voor privatisering in Egypte

By Samira Bendadi – Originally appeared in MO* De Europese en Amerikaanse steun aan de landen van de Arabische Lente is slechts een middel om een agressief privatiseringsbeleid op te dringen. Via de zogenaamde PPP’s (privé-publieke partnerschappen) wil men sectoren zoals water en energie naar de privésector overhevelen. Tot die conclusie komt Counter Balance, een […]

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NGOs oppose European Bank’s plan to finance oil drilling in Egypt

Cairo/Brussels – On Wednesday 29 May, the European Bank for Reconstruction & Development (EBRD) will vote on whether to make a $40 million loan to Kuwait Energy to drill and extract oil inEgypt. Egyptian and international organisations are pushing the board of the public multilateral bank to reject the loan – or at least postpone […]

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