The Egyptian Initiative for Personal Rights (EIPR) issued a comment on the report released lately by the Investigatio
Tags: World Bank
The Egyptian Initiative for Personal Rights (EIPR) issued a comment on the report released lately by the Investigation office of the World Bank Group (CAO) on the complaint against the Alexandria Portland Cement Company (Titan Cement Factory), and the International Finance Corporation ( IFC) , the private sector arm of the world bank Group, which funded the establishment of the company.
Egypt was hit with the biggest fine in its history when the ICSID ruled on September 3, 2018 that Egypt was liable for compensation of $2 billion to Union Fenosa, as damages for the 2014 government’s failure to provide gas to the company during the energy crisis in Egypt.
EIPR sees this judgment as justice for the complainants and a recognition of their rights to health and environmental safety. The judgment is particularly important because current environmental laws and regulations allow heavy polluting industries such as cement and coal-powered plants to operate in residential areas.
Five objections: what is the problem with the World Bank loan?
The undersigned organizations welcome the World Bank’s move to open up a dialogue on its policies, and were especially pleased that the talks were held with organizations and experts in the governorates of Cairo, Alexandria and Aswan, rather than simply the capital
EIPR has issued a study titled, “Revisiting the Growth-Poverty Nexus in Egypt, with Reference to the World Bank Country Partnership Strategies.”
Despite billions of Egyptian pounds in infrastructure investment both from national and international sources, Egypt's cities, towns and villages continue to grow and function in much the same way they have over the last three decades, namely thro
Invitation for a press conference
"The World Bank’s Impact on Egypt’s Built Environment"