Going abroad – a critique of the European Investment Bank’s External Lending Mandate
Publication | 18 November, 2016This report analyses how and if the European Investment Bank (EIB) is fulfilling its development role under the so-called External Lending Mandate (ELM) for the period 2014-2020. It sheds light on the more questionable quality and effectiveness of EIB operations and on the neglected areas of the bank’s performance outside Europe, such as transparency and access to information practices, its attitude towardstax evasion and tax dodging, human rights due diligence.
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The EU bank’s dubious overseas development experience shows it cannot be a key player in Europe’s response to the plight of refugees – report
Press release | 18 November, 2016The EIB is increasingly given a prominent role in the EU’s response to the so-called refugee crisis stretching the bank’s operations well beyond its current mandate for overseas investments. Yet, a new report by Counter Balance and CEE Bankwatch Network takes a closer look at projects the EU’s house bank has been financing outside Europe to find a dismal track record on a range of issues from transparency to human rights. This, the report authors say, should serve as a warning sign for the European Parliament and Council as they consider boosting the bank’s mandate.
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Azerbaijan’s crackdown on civil society must not be tolerated, international NGOs tell industry transparency body
Press release | 25 October, 2016The Azerbaijani government’s relentless repression of civil society should disqualify the country from participating in the Extractive Industries Transparency Initiative (EITI), 18 international groups wrote in a letter sent on Thursday (October 20) to members of the EITI board.
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Too good to be true? Assessing one year of the Investment Plan for Europe
Blog entry | 28 September, 2016Europe is hemorrhaging cash in deeply unsustainable projects like motorways, airports and gas infrastructure.
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The best laid plans – Why the Investment Plan for Europe does not drive the sustainable energy transition
Publication | 28 September, 2016This report analyses projects approved by the European Fund for Strategic Investments (EFSI) in its first year of operation. The fund should catalyse €315 billion in new investment, and play an important role in the fight against climate change. However, as the analysis finds, during the EFSI’s first year an additional €1.5 billion was earmarked for fossil fuel infrastructure, and 68% of transport investment is destined for carbon-intensive projects.
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Juncker investment plan: deep reforms necessary for sustainable future
Press release | 28 September, 2016Cash that should be flowing into projects that boost environmental sustainability is instead fuelling outdated carbon-intensive projects like motorways, airports, and fossil-fuel infrastructure, according to a new report on Europe’s investment plan released today
Read moreJuncker Investment Plan 2 and review of EU budget offer no progress towards Europe’s long-term climate goals
Press release | 15 September, 2016What should have been two significant contributions to Europe’s war chest in the fight against climate change will in fact leave the planet short-changed and open the door to even more polluting fossil fuel projects, argue campaigners at Bankwatch, Friends of the Earth Europe and Climate Action Network Europe.
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New report reveals the ‘dark side’ of EIB funds: how the EU’s bank supports non-transparent investment funds based in tax havens
Press release | 14 September, 2016Counter Balance launches today a new report that critically analyses a little-known part of the European Investment Bank (EIB)’s operations: its use of private equity funds. The report is available for download at http://www.counter-balance.org/wp-content/uploads/2016/09/The-dark-side-of-EIB-funds_report.pdf The report presents a number of statistics and facts about recent investment funds financed by the EIB during the period 2011-2015.
Read more‘We have no other option’ – Preparation of the Trans-Adriatic Pipeline in Albania
Publication | 4 August, 2016The Trans Adriatic Pipeline (TAP), the most western part of the Southern Gas Corridor, a pipeline project to bring gas from Azerbaijan to Europe is promoted by the European Commission as a strategic asset for Europe’s energy security. A July visit to over 30 Albanian villages revealed the high level of dissatisfaction and confusion for people impacted by the construction of TAP.
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Ombudsman asks European Investment Bank to act on conflicts of interest issues
Blog entry | 26 July, 2016In a letter to the President of the European Investment Bank from July 22, the European Union’s Ombudsman Emily O’Reilly has asked the bank to review its governance arrangements to help prevent potential conflicts of interest in the bank’s governing bodies.
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