EIB

For more than seven years Bankwatch has actively engaged in advocating drastic reforms at the EIB

With an ever-growing annual lending portfolio of more than EUR 45 billion, the European Investment Bank (EIB) is probably the largest public international financial institution (IFI) and unlike many others. It operates worldwide in a wide range of projects, yet does so without clear environmental, social or development procedures or safeguard policies in place (see EIB social and environmental standards). For many years, the EIB lacked the transparency and access to information requirements in place at other IFIs. Revisions to the EIB information policy in March 2006 created some positive changes, but the results of its implementation have yet to be seen (see EIB Transparency).

With a current investment portfolio in more than 130 countries, the EIB is increasingly involved in lending operations outside the European Union. Its support for projects in South Africa, Asia, Balkans, the Middle East, and Latin America constitutes a significant portion of lending under the EU's external development and economic cooperation programmes.

In November 2006, in conjunction with a number of international NGOs, CEE Bankwatch Network organised a conference on EIB accountability: "Right to Appeal" - International Financial Institutions and accountability - on the way to independent compliance and appeal mechanism for the European Investment Bank. The conference was attended by speakers and participants from the EIB and other IFIs, the EU institutions, independent researchers, NGOs and the media.