Transforming development finance? Europe’s multilateral lenders fail on aid transparency
June 4, 2015
The recently published 2015 Aid Transparency Review concludes that the European Union is off track from meeting its aid transparency commitments. Europe’s two multilateral development banks are indicative of the altogether rather disappointing outcome.
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.
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.
EIB and EBRD transparency nosedive needs fixing – and fast
December 2, 2014
Operational transparency standards at the European Investment Bank and the European Bank for Reconstruction and Development continue to deteriorate, according to the 2014 Aid Transparency Index (ATI) published in October by aid watchdog Publish What You Fund (PWYF).
European Banks are most opaque multilateral organisations, 2014 Aid Transparency Index
October 8, 2014
The European Investment Bank (EIB) and the European Bank for Reconstruction and Development (EBRD) are ranked 16th and 17th respectively out of 17 multilateral organisations on the 2014 Aid Transparency Index (ATI) which is published today. The transparency index comes at a momentous time for the EIB as the institution is currently reviewing its transparency policy and NGOs fear that the ‘EU bank’ is preparing to further downgrade its transparency requirements.
Flood impacts kept secret by hydropower plant constructor in Georgia
October 6, 2014
Georgian Urban Energy (GUE), the company in charge of constructing the Paravani hydropower plant (HPP), has been keeping secret a study on the potential flooding risks associated with the facility, despite requests and promises from the EBRD that such an analysis would be made public.
