October 13, 2021
A third of the European Investment Bank (EIB) portfolio in 2020 went through financial intermediaries, a channel that has already enabled multiple projects with devastating consequences for nature and communities with virtually zero accountability. The ongoing review of the EIB’s environmental and social standards is a crucial opportunity to ensure transparency and proper scrutiny of all projects supported with European public money.
Why can a third of European Investment Bank lending evade the Bank’s environmental and social rules?
September 21, 2021
The European Investment Bank’s (EIB) financial intermediaries (FIs) help the EIB to reach smaller clients than it would otherwise be able to finance. The EIB’s global lending via intermediaries amounted to EUR 22.6 billion in 2020. In the EU, credit li
September 21, 2021
More than a third of the European Investment Bank (EIB)’s EU lending is carried out via intermediaries. Yet most of this money disappears into a black hole, with no information published about the final beneficiaries and no checks by the EIB about their environmental and social impacts. The EIB’s new safeguard framework is supposed to address this, but the draft text leaves the Bank far behind its peers.
A case study on the Beli Kamen and Komalj hydropower plants on the Crni Rzav and Ribnica Rivers in Serbia
April 22, 2021
The small hydropower plants Beli Kamen and Komalj are built on the Crni Rzav and Ribnica Rivers of the Drina basin in western Serbia. Both plants are interconnected, as they use water from the same intakes and were financed by the European Investment B
March 30, 2021
The Blagoevgradska Bistritsa hydropower cascade was planned to use only the drinking water of the town of Blagoevgrad. Eight years later, it has used more than double the water allowed, leaving the river ‘even without frogs’. Our latest report shows the need for more scrutiny of EIB and EBRD lending through intermediary banks.
March 4, 2021
The EU’s house bank must keep up with its peers on disclosure of financial intermediary investments
May 16, 2019
As a result of public resistance to small-scale hydropower projects in the Balkans, from the beginning of 2020, the EBRD will ask commercial banks to refer all high-risk projects – including all hydropower plants – for additional checks. The EBRD also requires them to meet higher environmental standards than previously. The bank will ask that such projects are disclosed to the public on the financial intermediary’s website, finally increasing disclosure on these hitherto hidden projects.
March 26, 2019
BankTrack’s study finds that client confidentiality is not an absolute legal requirement in any of the world’s major banking centres. Banks can – and do – include the right to disclose information into their contracts. Will the EIB & EBRD acknowledge this in their policies on intermediated lending?
CSO letter to the EBRD on the revision of the Good Governance policies related to Financial Intermediaries (FIs)
March 13, 2019
The undersigned CSOs welcome this opportunity to submit comments on the EBRD’s revision of its environmental and Social Policy, Access to Information Policy and Project Accountability Policy relating to financial intermediary lending. As it was documen
Milestone bank summit in Belgrade a step towards protecting Balkan rivers, but greater transparency still needed
March 1, 2019
For immediate release. Belgrade – The ‘Save the Blue Heart of Europe’ campaign  gave a cautious welcome to a first-of-its-kind summit between the financial sector and green activists, where a roundtable about the role of banks in the destruction of Balkan rivers by hydropower dams was centre stage.