Egypt | Bank Information Center: Monitoring the projects and policies of the World Bank, IMF and other international financial institutions


bicusa.org/egypt Home Regions Middle East and North AfricaEgypt Egypt Overview Key Issues Problem Projects Updates Resources Contacts RSS Update \| 2 February 2012 World Bank’s MENA department opens up to inputs from the region’s citizens The Bank Information Center welcomes the World Bank’s initative to open up and create a larger space for civil society from the MENA region. Read more Press Clipping \| 19 January 2012 Cairo From Below on World Bank's proposed loan for Egyptian transportation project: Is it enough? Nicholas Hamilton of the blog Cairo From Below discusses a proposed World Bank loan of $250 million for a major Egyptian transportation project, in the broader context of envisioning a sustainable transport strategy for the Greater Cairo Region. The Bank's proposed project is called the Urban Transport Infrastructure Development and is scheduled to be approved by the Bank's Board of Directors in early 2013. Read more Update \| 15 December 2011 World Bank's current portfolio in Egypt Read more Update \| 23 November 2011 Green energy from the Sahara: great opportunity, great responsibility The long-awaited solar program for the MENA region being co-funded by the World Bank has the potential to provide clean energy and jobs for the region, if it is implemented in consultation with local communities and with their interests and needs as a priority. Read more Update \| 6 October 2011 Civil society comes out of meeting with new MENA VP Andersen with a renewed sense of enthusiasm MENA civil society representatives met with the Bank’s new MENA Vice President, Inger Andersen, to discuss Bank-civil society relations in the post-revolution era. The Bank responded positively to civil society’s demands for inclusive, equitable and sustainable development with full civil society participation. Read more Update \| 6 October 2011 MENA civil society extends Arab Spring demands for participation & transparency to WB BIC/MENA and civil society representatives from across the region engaged World Bank officials at the 2011 Civil Society Policy Forum of the World Bank/IMF Annual Meetings, drawing commitments to inclusive and equitable development strategies and greater participation for civil society. Read more Update \| 5 October 2011 Reaching out: MENA civil society representatives meet with Merza Hasan, WB Executive Director Civil society representatives from Egypt, Yemen, Lebanon and Tunisia find Executive Director Merza Hasan receptive to their concerns and willing to break new ground in future engagement with civil society. Read more Update \| 5 October 2011 Egypt’s Laila Iskandar overviews CSO demands at Townhall Meeting with Zoellick and Lagarde At the Civil Society Townhall Meeting with World Bank President Robert Zoellick and IMF Managing Director Christine Lagarde, Laila Iskandar, an Egyptian activist and chairperson of the Community and Institutional Development Group eloquently spoke on behalf of global civil society outlining the various CSO concerns which had been brought to her attention. Read more Update \| 5 October 2011 MENA civil society wins commitments to engage from World Bank officials at 2011 Annual Meetings With goals of achieving greater participation for civil society organizations in World Bank operations alongside a commitment to inclusive and equitable development strategies, BIC/MENA and civil society representatives from Egypt, Lebanon, Tunisia, and Yemen among others successfully engaged the Bank at the 2011 Civil Society Policy Forum of the World Bank/IMF Annual Meetings Read more Update \| 19 August 2011 World Bank closes Egypt's West Delta project Read more Update \| 18 July 2011 Transparency and borrowing As Egypt's revolution continues to unfold, potential loans from international financial institutions have stoked intense debates. BIC's Amy Ekdawi writes that the fate of these loans must be contingent on open engagement with Egyptian civil society, not backroom deals. Read more Update \| 27 April 2011 Omar Effendi's mismanagement: Who's responsible? BIC's MENA program publishes a case study on a controversial IFC project, Omar Effendi (OE) in Egypt. The study examines OE's mismanagement and failure to comply with IFC standards as well as highlights the IFC's poor due diligence and implementation of its Policies and Performance Standards. Read more Update \| 27 April 2011 Corruption in Egypt should disqualify World Bank from U.S. recapitalization Beatrice Edwards of Government Accountability Project argues against the U.S recapitalization of the World Bank for 2012 in light of the Bank’s involvement in projects linked to corruption allegations. Read more Update \| 7 April 2011 Economic failures, revolutions and the role of the World Bank in the MENA region The recent uprisings that have affected almost every country in the Middle East and North Africa region are indicative of deep structural issues that are facing societies in these countries. Calls for democracy, economic reforms, employment opportunities and greater accountability require us to question the development model pursued in the region by institutions like the World Bank and the underlying assumptions that may have led to the failure of this model. Read more Press Clipping \| 29 March 2011 Banking is not a tool to support democracy Fidanka Bacheva of CEE Bankwatch Network questions the European Commission's plan to be involved in supporting democracy in the Mediterranean region in light of the recent uprisings in the region. Many of her concerns about who EBRD and EIB's development efforts have tended to benefit in the past and who they will possibly benefit in the future can further be applied to the World Bank, which is also rethinking its engagement in the region. Read more Update \| 25 January 2011 World Bank hosts its first dialogue on the MENA CSP program in Cairo On January 20, 2011, the World Bank hosted a dialogue on the Concentrated Solar Power (CSP) Program in the Middle East and North Africa in Cairo, Egypt in order to discuss the overall CSP program and any key concerns that stakeholders might have. Read more Update \| 18 January 2011 Habi Center holds workshop on water rights in Cairo Read more Update \| 5 November 2010 Ensuring positive development outcomes for North Africa CSP Program As the World Bank pushes forward with a massive investment in North Africa’s energy sector, it is up to the institution to ensure that this program benefits those who need it most. Read more Press Clipping \| 5 November 2010 Egypt, World Bank sign power project accords Egypt and the World Bank on Thursday signed two new loan agreements worth 820 million dollars, in the largest financing provided by the institution to the country's electricity sector Read more Update \| 27 September 2010 World Bank more than doubled its investment in Egypt in 2010 Relationship between Egypt and the World Bank is gaining momentum with the Bank's hire of a new Egyptian Managing Director Read more Press Clipping \| 24 August 2010 World Bank grants Egypt 1.2 bil Egyptian pounds for wind energy The World Bank's Board of Directors has approved a loan of $1.2 billion Egyptian pounds to support the development of wind energy. 800 million Egyptian Pounds will be provided by the Clean Technology Fund, which will be a first for the fund in the Middle East and North Africa. Read more Update \| 1 July 2010 Omar Effendi IFC clients need to adhere to the IFC's Performance Standards and the IFC ought to improve due diligence to ensure positive development outcomes and compliance with Standards. Read more Update \| 30 June 2010 Egyptians tell the World Bank what they want loudly and clearly: Renewable energy At an energy consultation on June 29 for which it took weeks to finalize a date, 25 Egyptians from various segments of society, including NGOs, academic institutions, and private firms, all had one clear message for the World Bank to think about when designing its new energy strategy: "focus on renewable energy projects." Read more Press Clipping \| 30 June 2010 IFC invests $120 mn in Egypt refinery project Just one day after a World Bank Group energy consultation in Cairo where the clear and strong message from both civil society and the private sector was for the World Bank Group to push for renewables, the International Finance Corporation has announced a $120 million investment in Egypt's oil sector. Read more Press Clipping \| 22 June 2010 Investing in renewable energy for Egypt's future Writing in the Egyptian daily Al-Masry Al-Youm English Edition, Amr Mohsen of Lotus Solar Technologies and BIC's Amy Ekdawi lay out the case for Egypt to seek a transition to renewable energy now, not later, and to request that the World Bank aid this change of direction. Read more Update \| 1 June 2010 BIC and FDPD co-host energy workshop in Cairo as first event within new protocol On May 3rd 2010, FDPD and BIC organized a panel discussion to bring together energy experts from NGOs, the private sector, and academia among others, to discuss Egypt's energy sector and the role that the World Bank Group would ideally play in that sector. The event also marked the first collaborative effort within a new BIC-FDPD protocol. Read more Update \| 18 May 2010 Civil society writes letter opposing general capital increase More than 100 civil society organizations from around the globe signed on to a letter demanding an end to all fossil fuel projects at the World Bank with aims other than energy access for the poor. Until the Bank halts the financing of such projects, bringing them into line with the G20 and APEC pledges to phase out fossil fuel subsidies, these CSOs will oppose the Bank's recapitalization ask. Read more Update \| 20 April 2010 Concentrated Solar Power in MENA In a moment where the World Bank is reviewing its energy strategy, it is channeling the funds for a major program in the MENA region which may lead to technological breakthroughs with respect to mitigating climate change, but at what cost? This article examines the different factors associated with the development of Concentrated Solar Power in the region. Read more Update \| 6 April 2010 World Bank enhances its support for Mediterranean Integration As the World Bank increases cooperation and coordination of development schemes with the Europeans, how might this affect lending trends in the Middle East and North Africa? Read more Correspondence \| 25 March 2010 CSO exchanges letters with WB & Egypt's Min. of Water Resources re: controversial West Delta project Habi Center for Environmental Rights continues to engage the World Bank and the Egyptian government on the West Delta project. Egyptian CSOs have been urging the Bank to consider an alternative irrigation project which would help poor farmers as well. Read more Update \| 16 March 2010 The World Bank Group's strategies in MENA countries Find out what the World Bank's strategy is in your country. In some instances, there is a Country Assistance Strategy (CAS), and in others, the Bank has used a more collaborative approach in designing and defining the pillars of their development program, to design a Country Partnership Strategy (CPS). Read more Press Clipping \| 1 March 2010 CSOs help train Bank staff on engaging civil society Amy Ekdawi and Nadia Daar of BIC's Middle East and North Africa Program participate in four training sessions for the World Bank's MENA staff on engaging civil society in the region. This training is part of the Bank's Enhanced Action Plan for the MENA region which includes improved consultations, increased translation, and more engagement with civil society. Read more Update \| 4 February 2010 Nine Executive Directors write to President Zoellick about U.S. coal guidelines On January 13th, nine executive directors representing China, India, and other countries in the Global South wrote a letter protesting the recently announced guidelines from the U.S. for what coal projects it could support. The directors objected to the United States declaring it wouldn't support coal projects while maintaining its own reliance on coal power. Read more Update \| 15 September 2009 Development banks to hopefully be held accountable in North Africa – Morocco workshop a great succes A workshop co-organized by the Bank Information Center (BIC), the World Bank’s Inspection Panel, and the IFC and MIGA’s Office of the Compliance/Ombudsman (CAO) was held in Marrakech, Morocco in late July 2009, and lasted three fruitful days. Read more Update \| 29 September 2009 WB and Egyptian government before Egyptian courts for violating rights of Delta farmers Egyptian NGO, Land Center for Human Rights, has filed an appeal on behalf of farmers in the Egyptian Delta, citing that the joint World Bank and Egyptian government 'West Delta project' violates the Egyptian constitution that should protect the rights of farmers, and not just the interests of wealthy investors. Read more Update \| 4 September 2009 The World Bank on the West Delta Project: Sorry we can’t consider other options! Egyptian civil society groups suggest an alternative water route for the West Delta Irrigation Project, that could serve poor farmers as well as rich investors, but the World Bank refuses to consider it. Read more Press Clipping \| 6 July 2009 New crisis in the Nile: geologist warns that Egypt may lose 8mn cubic mtrs of water for next 20 yrs Will the new crisis in the Nile affect the implementation of the West Delta project? Read more Update \| 30 June 2009 Is the Clean Technology Fund benefiting the poor or simply satisfying the energy needs of the rich? The World Bank approves loans for renewable energy in southern countries while making sure Europe meets its energy goals. Read more Update \| 23 June 2009 Egyptian Ministry of finance partners with multinational companies in West Delta project The Egyptian government's engagement in the West Delta project raises many questions regarding the repayment of the World Bank's loan. Read more Update \| 8 April 2009 BIC’s MENA program organizes regional workshop in Beirut The workshop discussed the World Bank’s Disclosure Policy Review, and introduced the World Bank’s Inspection Panel to our regional partners. Read more Update \| 13 March 2009 GTI Update: World Bank to review transparency standards As the World Bank launches a review of its policy on access to information, the Global Transparency Initiative will track the review process and provide analytical support to civil society groups concerned with transparency standards at the Bank. Read more Update \| 5 March 2009 Brazilian NGOs urge World Bank not to approve $1.3 billion loan for environment Several organizations and social networks have asked the World Bank to postpone a decision on a $1.3 billion project in Brazil. The groups argue that prior loans have not adequately addressed environmental concerns and that the pending project-loan has the potential to continue this trend. Moreover, the groups see attractive alternatives. Read more Update \| 29 December 2008 New book by INESC - Financing for Megaprojects A new book of articles edited by Ricardo Verdum of the Brazilian Instituto de Estudio Socioeconomicos (Inesc) explores the trends in financing for megaprojects in South America. The book highlights the shifting balance between IFIs such as the World Bank, the IDB and CAF toward new institutions such as BNDES, as well as the competition between IIRSA and UNASUR. The book emphasizes the urgency for greater transparency and accountability in information and decision making about large, high risk infrastructure in the region. Read more Update \| 19 December 2008 IFC convenes conference to encourage greater mining investment in the MENA region Meanwhile, the IFC’s advisory services in revising the region's mining policies reinforce concerns over the lack of transparency of these types of operations. Read more Update \| 16 December 2008 Stakeholders convened in Cairo to debate contentious issues surrounding the West Delta project Concerned parties threaten to file a court case against the Egyptian government if they do not receive satisfactory answers. Read more Update \| 3 November 2008 As WB Group committments in MENA region surpassed $3bn in 2008, questions about effectiveness remain The World Bank Group is adhering to its pledge for greater engagement in the Middle East and North Africa. However, data on the development impacts on the poor are lacking, while other data suggest that many Bank projects in the region are at risk. Read more Update \| 27 October 2008 IFC payment disclosures revisited The International Finance Corporation's (IFC) website on extractive industries government payment disclosure has made progress, but certain gaps in data availability remain. Read more Update \| 2 October 2008 New irrigation project in Egypt’s West Delta raises critical questions about the World Bank’s priorities in reducing poverty The project will divert water from the Nile to the reclaimed lands in the West Delta region, while the introduction of the private sector for the first time in Egypt could leave small farmers behind. Read more Update \| 8 July 2008 World Bank signs new emission reductions purchase agreement in Egypt The World Bank will buy 325,480 tons of carbon credits from Egyptian Company for Solid Waste Utilization (ECARU) on behalf of governments and companies in Organisation for Econmic Co-operation and Development (OECD) countries. Read more Update \| 20 June 2008 BIC's MENA program organizes third workshop in Egypt The workshop introduced BIC's work to Egyptian media and civil society organizations, and focused on the activities of the international financial institutions in the country. Read more Update \| 19 June 2008 Islamic Development Bank joins efforts to alleviate food crisis Jeddah-based development institution announces $1.5 billion contribution toward food security programs in its member countries. Read more Update \| 29 May 2008 World Bank sets up $1.2 billion facility for food aid The World Bank announced today that it has set up a financing facility in the order of $1.2 billion to assist with the global food crisis. Read more Update \| 17 January 2008 Did the World Bank and the IMF use false statistics to build their economic success story in Egypt? A report issued by the Egyptian Central Auditing Organization accuses the Egyptian government of using misleading financial statistics. Read more Update \| 30 November 2007 BIC now has an Arabic page for its MENA program! Partners and readers from the Middle East and North Africa region can now access information on BIC's MENA Program in Arabic. Read more Update \| 27 September 2007 World Bank applauds Egypt's pro-investment reforms as workers go on strike Egypt tops list of reformers in World Bank's 2008 "Doing Business" report. Read more Update \| 1 August 2007 WB, IMF and AfDB-backed program to privatize Egyptian banks arouses controversy The Egyptian government is facing criticism from members of its parliament over plans to sell off the country’s publicly owned banks. The plan to privatize several national banks within the framework of an $8.7 billion financial sector reform program has the backing of the World Bank, the International Monetary Fund, the African Development Bank and US Agency for International Development. Read more Update \| 19 July 2007 Controversy in Egypt over discounted gas to Spain Sale of gas from EIB-financed LNG plant in Egypt at discount prices raises questions about who benefited from the deal. 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