Information on EIB loans to Volkswagen must be made public – letter to the EIB’s board of directors

Advocacy letter    |    12 November 2015

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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.

Bankwatch request for information (September 25, 2015)
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Almost two months after Bankwatch first made a disclosure request, and after failing to meet an extended deadline, the bank sent us only documents (see below) related to two of VW’s outstanding loans (instead of all 12 VW loans we requested), because these are the ones the bank deemed relevant for our request. Much of these documents have been redacted by the EIB – in order “[not to] undermine the protection of the promoter’s commercial interests and its intellectual property rights.”

Skoda Engine RDI finance contract between the EIB and Volkswagen (November 2014, redacted)
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VW Innovative Powertrains finance contract between the EIB and Volkswagen (October 2014, redacted)
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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 (pdf), 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.

Information on EIB loans to Volkswagen must be made public – letter to the EIB’s board of directors (November 12, 2015)
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