Bankwatch Mail 52
Publisher: CEE Bankwatch Network
Volume: 7 pages, pdf
Description:
EBRD efforts to clean up its energy lending in central and eastern Europe are being undermined by extensive fossil fuel investments, with astonishing increases in the EBRD's backing for coal and oil projects in 2011. These are the findings of a new Bankwatch analysis of the EBRD's energy lending since the bank's current Energy Policy was approved in 2006. Bankwatch's research, based on the bank's own lending figures, found that of the EUR 6.7 billion in EBRD support for the energy sector between 2006 and 2011 there were some positive developments such as a large increase in the bank's energy efficiency and new renewables investments.