Counter Balance

In the summer of last year, the European Bank for Reconstruction and Development (EBRD) approved a 60 million euro loan to Serinus Energy for financing the development of four oil and gas fields in Tunisia (Sabria, Chouech Essaida, Ech Chouechand Sanrahr) between 2013 and 2017. Among the motivations for this loan, the EBRD quotes „supporting […]

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 […]

Tunis — On 9 July the European Bank of Reconstruction and Development will decide on a USD 60 million loan to Serinus Energy for a project to develop four oil and gas fields in Tunisia, which is also likely to include drilling for shale gas. Twenty groups in Tunisia and Europe are calling on the […]

Appeared in Truthout Writing for the Washington Post on March 10, 2011, David Ignatius reported that “White House officials like” the idea of the European Bank for Reconstruction and Development (EBRD) being given a role as “a bank for economic and political transition” in Egypt and neighboring countries. The US stance is important because this […]

Appeared in New Europe Over the next three years, the European Commission is planning to channel seven billion euro for the Southern Mediterranean through the European Investment Bank (EIB) and the European Bank for Reconstruction and Development (EBRD). But the track record of these two banks raises serious questions over their ability to support democratisation […]

Several EU officials have put forward the EIB and the EBRD to finance the transition in the Southern Mediterranean. Not a very good idea if you consider the banks’ methods and the bad track records in crucial areas for the promotion of democracy in the region. The following documents give you a clear overview of […]