“Fight tax havens, start with the European Investment Bank”, argues new report
April 21, 2015
Counter Balance & Re:Common press release The European Investment Bank (EIB) was the first Development Financial Institution (DFI) to adopt a tax haven policy in 2009. However, more than five years on EIB money still runs via tax havens. A new report by Counter Balance and Re:Common* ‘Towards a Responsible Taxation Policy for the EIB’ which is launched today calls on the EU’s public bank to grasp the political momentum at EU level to prevent any public money from flowing through tax havens. Country by country reporting, identification of beneficial ownership and a workable list of non-compliant jurisdictions would be key ingredients of a real “Responsible Taxation Policy”.
Development Banks Urged to Review Support for Mekong Dams, 10 Years After Nam Theun 2
April 1, 2015
Amsterdam/Bangkok/Manila/Prague/Tokyo – Non-governmental organizations are calling on the World Bank, Asian Development Bank (ADB) and European Investment Bank (EIB) to publicly acknowledge the millions of dollars of failed investment in their flagship project, Nam Theun 2. This 1070 MW dam has failed to bring intended development benefits, and instead has unleashed a range of negative impacts on the affected populations in central Laos.
Exhibition brings coal-affected communities in Colombia and Croatia a step closer together
March 24, 2015
A photo exhibition in Croatia is connecting the dots between communities in Colombia and the Istrian coast that are negatively affected by coal.
European Parliament intergroup ITCO condemns new transparency policy of the European Investment Bank
March 13, 2015
The European Investment Bank’s slide towards secrecy, manifest in its newly adopted transparency policy, has been lambasted by the intergroup of the European Parliament responsible for transparency and corruption.
EIB’s new transparency policy allows for more secrecy
March 11, 2015
Brussels – Yesterday the European Investment Bank (EIB) formally adopted a revised transparency policy including controversial exceptions to the disclosure of internal documents. This watered down transparency policy comes right before the bank will start implementing the € 315 billion Juncker plan and risks undermining the impact of EU recovery efforts.
Polish companies lack guidance on social responsibility in the Global South
February 24, 2015
Private businesses are playing an increasing role in development finance, but their involvement is one of the most controversial issues in the discussion on sustainable development. The Polish government’s support for businesses still lacks clear reference to international standards and guiding principles for operating in the Global South.
Long awaited investigation into Glencore for alleged tax dodging shows EU Bank’s lack of transparency and vulnerability to abuse
February 5, 2015
Brussels – The European Investment Bank (EIB) is virtually powerless in the face of abuse of its own funds, an internal investigation published last week by the EIB shows. What’s even worse is that the EIB’s new transparency policy – to be adopted in the coming weeks – would formally allow the bank to keep such internal investigations into abuses of its funds secret, hereby undermining public scrutiny of public money.
Civil society aiming to clamp down on EIB tax haven evasiveness
February 2, 2015
Pressure is mounting on the European Investment Bank to take swift action that addresses weaknesses in its policy on lending to businesses based in tax havens.
EIB set to weaken transparency standards
January 27, 2015
Brussels — One week before the European Investment Bank’s board of directors is expected to approve the bank’s new transparency policy, 13 civil society groups* monitoring the EIB warn that, as it stands, the draft policy amounts to a weakening of the already dismal transparency standards of the EU’s house bank.
Letter to EIB directors: EIB final draft of transparency policy is insufficient
January 27, 2015
One week before the European Investment Bank’s board of directors is expected to approve the bank’s new transparency policy, 13 civil society groups warn the EIB’s directors that the draft policy amounts to a weakening of the already dismal transparency standards of the EU’s house bank.
