New Documentary: Walking the Line

Counter Balance, Platform and Re:Common are pleased to announce the launch of the webdocumentary “Walking the Line”. This webdocumentary presents the risks associated with the Euro-Caspian Mega Pipeline or Southern Gas Corridor. One of the biggest pipelines ever conceived, the corridor is supposed to stretch 3500 km from Azerbaijan to Italy and supply Europe with […]

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NGOs urge the European Investment Bank not to finance the Southern Gas Corridor

A group of 27 NGOs sent an open letter to the President of the European Investment Bank (EIB) today urging the Bank not to finance the Southern Gas Corridor, a 3500 kilometres-long chain of gas pipelines from Azerbaijan to Europe. As the EIB considers granting the biggest loan of its history to the Consortium in […]

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New report: Towards a reinforced accountability architecture for the European Investment Bank

‘Towards a reinforced accountability architecture for the European Investment Bank’ proposes a number of crucial reforms to guarantee democratic oversight, transparency and quality of the lending of the EU’s financial arm in the pivotal year of 2015. On paper the EIB has one of the best developed Complaint Mechanisms guaranteeing downward accountability to all citizens […]

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World Bank set to finance criticised mega gas pipeline from Azerbaijan to Europe

By Xavier Sol, originally published on the Bretton Woods Observer. Defined as “the biggest infrastructure project of our times“ by the European Commission and a priority for the European Union, the Southern Gas Corridor was always going to attract the attention of the World Bank. As part of Turkey‘s Country Partnership Strategy (CPS), the Bank […]

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Interview MEP Pirinski: “I strongly believe that the EIB should pay more attention to economic, social and territorial cohesion”

Georgi Pirinski started his first term at the European Parliament in July 2014 where he represents the Bulgarian Socialist Party. As rapporteur of the annual report on the European Investment Bank (EIB) for 2014 he shares his views on how to improve the way the Bank operates, with a special emphasis on the need to […]

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Bankwatch and Counter Balance statement on the mid-term review of the Investment Plan for Europe

June 1, 2016 Brussels, Prague – European Commission Vice President Jyrki Katainen presented today the mid-term result of the Investment Plan for Europe. The European Fund for Strategic Investments (EFSI), the financial arm of this investment strategy, was established by the European Commission and the European Investment Bank (EIB) in 2015 with the aim of […]

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The Paris Agreement is a wake up call for the EU’s house bank to realign its investment strategy

May 23, 2016 Prague, Brussels The European Investment Bank (EIB) must adopt new directives and operating principles to play a meaningful role in realizing the EU’s goal of a decarbonised and resource efficient economy, say CEE Bankwatch Network and Counter Balance ahead of the bank’s annual meeting during the EU finance ministers’ Council this Wednesday, […]

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Fence or farce? Construction of Trans-Adriatic-Pipeline stuck in Italy

Monday 16th May was the deadline for the start of the construction works of the Trans-Adriatic Pipeline (TAP) on the shores of the Apulia region, in Italy. The documents are clear: on this date the authorization awarded by the Italian authorities to the TAP Consortium to kick-off building the pipeline would expire. But on Monday […]

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Parliament gets tough on control of EU Bank’s funds

In its annual resolution on the European Investment Bank adopted today in Brussels, Members of the European Parliament have criticised the bank’s support to projects under corruption investigations. They also called on the EIB to go further on fighting climate change, tax evasion and tax dodging. Counter Balance and CEE Bankwatch Network welcome the positions […]

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