Tag Archives: Tunisia

EBRD funds polluting Polish billionaire instead of local companies in Tunisia

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 […]

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

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 […]

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The EBRD’s silent shale gas coup in Tunisia

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 […]

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(Photo: makeroadssafe / Flickr)

More Western Banking Will Not Help the Mediterranean Pro-Democracy Struggle

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 […]

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Banking is not a tool to support democracy

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 […]

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by Maged Helal

European public banks must stay out of Southern Mediterranean

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 […]

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EU public banks not fit to finance transition in Egypt and Tunisia

This position paper by Counter Balance and CEE Bankwatch Network expresses our concerns regarding the European Commissions’ plans to involve the EIB and the EBRD in financing the transition in the Southern Mediterranean. Read it here to understand why we think these institutions are not fit for the job.

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NGOs call for investigation into EIB’s financing for the Mediterranean region

Counter Balance and CEE Bankwatch Network are calling for an investigation into the European Investment Bank’s (EIB) financing in the Southern Mediterranean region in the past, before giving the bank a leading role in distributing European financial support for the region. “The benefits from the EIB’s involvement in the region have been doubtful”, says Caterina […]

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Keep European public banks out of Mediterranean region, say NGOs

This week, EU leaders are meeting to agree on a common response to events in the Mediterranean. A coalition of Western and Eastern European NGOs* issues a serious warning that the European Investment Bank and the European Bank for Reconstruction and Development are not the right institutions to financially support the transition in the Middle […]

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