Contradictory docs for Cairo refinery reveal disdain for transparency by European Bank officials in first major IFI-financed project since revolution started

A $3.7 billion PPP oil refinery expansion in Cairo is accompanied by contradictory project documents, making a mockery of claims by the public banks involved to be committed to “good governance” or democracy. Despite being presented as merely translations of one document, the Arabic and English “versions” are entirely different – with the Arabic markedly...

Controversial Cairo PPP refinery receives $3.7 billion from World Bank, EIB, EFG Hermes

A refinery expansion inside urban Cairo is receiving hundreds of dollars in "development" lending, despite a popular campaign against construction. The Mostorod Refinery Project – part-owned by private equity firm Citadel Capital – is situated in Northern Cairo, between Shobra El-Kheima and Mostorod. Opposition to the public-private partnership has focused on forced evictions, pollution and...