Tag Archives: oil

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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Letter to EIB’s president Maystadt on the Chad Cameroon oil pipeline project

Letter addressed to the EIB’s president Philippe Maystadt, requesting an independent investigation into the EIB’s flawed due diligence on the ill-fated Chad Cameroon oil development and pipeline project. Read the letter here

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European Parliament passes resolution to end taxpayer support for fossil fuels projects

With a resounding majority (540 MEPs in favour), the European Parliament today passed a resolution on trade and climate change which calls for “the discontinuation of public support, via export credit agencies and public investment banks, for fossil fuel projects”. [1] The step was widely welcomed by environmental and development NGOs campaigning on export credit […]

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