EIB

New investigation reveals how the EU’s Bank fails to tackle fraud and corruption in its investments

19 November 2019 Investments made by the European Investment Bank are wide open to abuse by fraudsters, money-launders and corrupt politicians, according to a damming new investigation by Counter Balance. Although, on paper, the Bank has controls in place to reduce the risk of fraud and corruption, the Bank’s policies are poorly policed and full […]

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World’s largest multilateral bank ends fossil fuels financing

14 November 2019 Brussels, Prague — Bankwatch, Counter Balance and a growing number of civil society groups have long been calling on the European Investment Bank (EIB), the EU’s house bank, to recognise the urgency of stemming the climate crisis and stop handing out public money to fossil fuel projects. Today, November 14, the bank’s […]

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Our Activity Report 2018

Our 2018 activities, successes and future challenges in a short booklet.

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VACANCY: Internship – Policy and Administrative Assistant

Position: Intern (Policy and Administrative Assistant) Organisation: Counter Balance Location: Brussels, Belgium Timeframe: February 10, 2020 (Subject to change depending on your availability) Duration: 3 to 6 months (Subject to change depending on your availability) Deadline for applications: January 13, 2020 (18:00 CET) Please apply in writing by sending an e-mail to: info@counter-balance.org, with the […]

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High time for EU bank to better tackle fraud and corruption in its investments

Last week, dramatic news came from Italy: a state of emergency had to be declared in Venice following dramatic floods – the city was engulfed by 1.87m high water levels. One question now very much on the minds of those affected is why a much-vaunted multi-billion dollar flood protection scheme, known as the MOSE project, […]

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Major gas projects in Romania enabled by regulatory acrobatics

At a time when public calls for tackling the causes of the climate crisis are growing, Romania’s gas industry has been expanding, courtesy of the Parliament and international financial institutions. A new report released today by the environmental group Bankwatch Romania finds that much of the burgeoning gas development in Romania over the past two […]

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Decision on a fossil fuels ban at the EIB postponed once more

Today the European Investment Bank (EIB) decided to again, postpone the long overdue adoption of a new Energy Lending Policy. This delay is mostly due to tensions around the EIB’s proposal to phase out lending to fossil fuels. Several shareholders, including Germany, and the European Commission are pushing back on what would be a precedent […]

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European Commission criticises the EIB’s role as a development bank

The European Commission recently published an evaluation of EIB development operations under its External Lending Mandate during the period 2014-2018. The Commission’s findings confirm our previous assessments and repeated calls for improvements in the fields of transparency, human rights due diligence and development impacts of EIB projects. The European Investment Bank (EIB) has for years […]

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Open letter from NGOs to support a fossil fuels ban at the EIB

Over 70 civil society groups call on European Investment Bank to stand behind proposal to stop funding fossil fuels, and to fight European Commission attempts to undermine ambition Today, over 70 civil society groups spanning dozens of countries – including major international groups – sent a public letter to European Investment Bank (EIB) leadership, calling […]

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Too soon to call the “Juncker Plan” a success – new report

October 1, 2019 Brussels, Prague The EU’s next major investment scheme, succeeding the so-called Juncker Plan, is likely to be central to the ‘European Green Deal’ touted by European Commission President Ursula von der Leyen. But a report released today by watchdog NGOs Counter Balance and CEE Bankwatch Network finds the Juncker Plan has so far […]

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Cast the spotlight on financial injustice to tackle rising inequalities, says new report

26 September 2019 As the international community meets at the UN General Assembly to review progress towards the Sustainable Development Goals (SDGs), a new report launched by Citizens for Financial Justice argues that the increased and unregulated growth of the finance industry has been contributing to deepening inequalities across the world.  Spotlight on financial justice […]

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Gaining control – an MEP toolkit to get the EIB on track

Counter Balance’s new guide for MEPs aims at having parliamentarians monitor the European Investment Bank more closely. The ‘EU Bank’ is the biggest public bank in the world. Last year it spent EUR 65 billion and it is at the heart of investment plans designed at EU level. The bigger the EIB grows, the more […]

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Spotlight on financial justice – understanding global inequalities to overcome financial injustice

Citizens for Financial Justice new report – Spotlight on financial justice: understanding global inequalities to overcome financial injustice – is being released on Thursday 26 September 2019, to coincide with the High Level Dialogue on Financing for Development at the UN. The report was compiled by Citizens for Financial Justice partners and other contributors, coordinated […]

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