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Werner Hoyer

NGOs urge the European Investment Bank not to finance the Southern Gas Corridor

A group of 27 NGOs sent an open letter to the President of the European Investment Bank (EIB) today urging the Bank not to finance the Southern Gas Corridor, a 3500 kilometres-long chain of gas pipelines from Azerbaijan to Europe.

NGO open letter to EIB president: don't finance the Southern Gas Corridor

In this letter, a group of 27 non-governmental organisations urge the President of the European Investment Bank not to finance the Southern Gas Corridor, a 3500 kilometres-long chain of gas pipelines from Azerbaijan to Europe. As the EIB considers granting the biggest loan of its history to the Consortium in charge of developing the western section of the project, the Trans-Adriatic Pipeline (TAP), the group of NGOs warns about its most controversial aspects.

UPDATED: New documents on European Investment Bank loans to Volkswagen

Documents obtained by Bankwatch provide more details for a European Investment Bank statement that its loans to Volkswagen may have been connected to the car makers use of cheating devices to rig emission tests.


The EIB's double standard for human rights in Ukraine and Egypt

While drawing concrete consequences from the violence that happened in Ukraine, the European Investment Bank seems to be unmindful of the ongoing human rights abuses and killings in Egypt.


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