Secrecy of VW fraud report ‘unacceptable’, says MEP
April 23, 2018
Finnish MEP Heidi Hautala won a trailblazing court case two decades ago for the right of EU citizens to receive ‘partial access’ to documents. Now she says it is “outrageous” the European Investment Bank is refusing to release Volkswagen documents. Sou
Volkswagen’s emissions scandal and the EU’s bank
June 18, 2017
With the spotlight bright on Volkswagen for cheating in emission tests, the EU’s house bank must now come forward and show exactly what it has done to ensure proper oversight over its loans to the company.
Second confirmatory application for disclosure of EIB documents related to Volkswagen loans
January 25, 2016
Following the revelations around Volkswagen cheating emission tests, Bankwatch requested information from the European Investment Bank about its loans to the car maker. After delays, incomplete disclosure, and a frist confirmatory application, the bank released on December 18, 2015 redacted finance contracts between the EIB and VW as well as redacted completion reports provided by VW to the EIB at the closure of each project. (See all documents here.)
UPDATED: New documents on European Investment Bank loans to Volkswagen
January 18, 2016
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.
We want more
December 22, 2015
Non-government organization CEE Bankwatch is not happy with the amount of information the European Investment Bank has provided regarding its lending to the Volkswagen Group in recent years. Bankwatch wrote to the EIB at the end of September, asking the bank to disclose documents related to the “green loans” it provided to VW, wanting to see loan contracts or evidence that VW used the money according to the conditions of the contract.
9 reasons why the EU’s bank is no climate leader
December 8, 2015
The European Investment Bank’s track record stands in stark contrast to its pose as a hero in the fight against climate change.
Confirmatory application for disclosure of EIB documents related to Volkswagen loans
November 24, 2015
Following the revelations around Volkswagen cheating emission tests, Bankwatch requested information from the European Investment Bank about its loans to the car maker. After some delays, the bank released only part of the requested information, despite the profound public interest in the case.
Information on EIB loans to Volkswagen must be made public – letter to the EIB’s board of directors
November 12, 2015
In late September, shortly after news of VW’s emissions manipulation broke, CEE Bankwatch Network contacted the European Investment Bank (EIB) with a detailed request to disclose information about its immense support to VW Group. In view of the profound public interest in the case, the highly insufficient responses we have received so far are particularly disconcerting. In this letter, Bankwatch therefore asks the EIB’s board of directors to turn to the bank’s Management Committee for the public disclosure of information related to EIB loans for the Volkswagen Group.
NGO letter to EU institutions: Take immediate action to respond to the dieselgate scandal
November 9, 2015
The dieselgate scandal is symptomatic of a ‘better regulation’ agenda in favour of cutting compliance costs and replacing the role of the public regulator with corporate co- and self-regulation. More than 35 civil society organisations have signed this letter calling for immediate and transparent investigations; EU oversight in the process of type approval for motor vehicles; strengthened enforcement of environmental legislation at EU and Member State level; the suspension of fraudulent companies from the EU lobby register until it has been demonstrated that they comply with EU law.
Up in smoke: the billions for Europe’s auto industry from the EU’s house bank
October 21, 2015
In the wake of last month’s Volkswagen (VW) emissions scandal, a Politico story, based on a Bankwatch analysis, revealed that the car manufacturer enjoyed generous public financial support from the European Investment Bank (EIB). But the full picture is even more disturbing.
