Why Europe must turn off the gas TAP – NGOs, academics & artists sign against the pipeline

Dear Maroš Šefčovič, Vice-President of the European Commission for the Energy Union. Werner Hoyer, President of the European Investment Bank, and Suma Chakrabarti President of the European Bank for Reconstruction and Development. We call on the European Commission to withdraw support for the 878 kilometre long Trans Adriatic Pipeline (TAP), and on taxpayer-funded banks to […]

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Counter Balance’s 10th anniversary

As European public banks have gained a more and more important role, over the last decade at Counter Balance we have been working to make sure these institutions lead the transition towards a more sustainable and equal society. We are glad to celebrate our 10th anniversary through a brief overview of our achievements and future […]

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Parliament sends strong signal to the EIB: Time to act!

In two reports on the European Investment Bank adopted today in Brussels, Members of the European Parliament have called on the EU’s bank to step up its efforts against climate change and enhance its transparency and accountability. Counter Balance and CEE Bankwatch Network welcome the positions taken today by the Parliament in two complementary resolutions […]

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Out for Summer, Episode 3: EIB Promoting development in Egypt – at what cost?

After the Arab Springs, the European Investment Bank (EIB) and the European Bank for Reconstruction and Development (EBRD) engaged in the support of the country’s transition to democracy, endorsing the priorities of el-Sisi’s new government: energy and economic development. But a few years later, the human rights situation in the country still raises big concerns, […]

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Out for Summer, Episode 2: how public banks support an unsustainable farming giant in Ukraine, ignoring communities’ rights

Myronivsky Hliboproduct (MHP) is a poultry farming giant operating in Ukraine. The company has received several loans by public banks including the European Investment Bank (EIB) and the European Bank for Reconstruction and Development (EBRD), even though its activities are seriously impacting the environment and local rural communities. The banks have so far declined any […]

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Southern Gas Corridor update: Russian involvement increasingly evident

While new public finance for the Southern Gas Corridor is lining up, the European Commission’s narrative that the pipeline would relieve Europe’s dependence on Russian gas continues to crumble. — By Ido Liven, originally published by Banwkatch — Another chunk of EU public money could soon be going to the Russian component of the Southern […]

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Out for Summer, Episode 1: The Ambatovy mine in Madagascar – How the EIB is sweeping a development fiasco under the rug

This summer we would like to shed light on the European Investment Bank’s operations outside the EU. “Out for summer” is a series of articles focusing on different cases of troubled development stories. First stop: Ambatovy, Madagascar. The Ambatovy project, together with the Mopani mine in Zambia, was the last mining project directly financed by […]

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European Parliament improves the External Investment Plan, but significant challenges ahead

Brussels, 6 July 2017 By ActionAid & Counter Balance The European Parliament has just [6 July] adopted the final regulation setting up the External Investment Plan and its financial pillar – the so-called European Fund for Sustainable Development (EFSD) [1]. The creation of this investment plan was announced by the president of the European Commission […]

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A tale of reverse development – the Ambatovy mine case

Originally published by OneWorld. June 16, 2017 by Laurence Soustras, Riana Raymonde Randrianarisoa Green shades of the tropical forest surrounding Madagascar’s largest seaport, Tamatave, is all that Google Maps shows. Then there is the vast expanse of the Indian Ocean. But zooming in, some 20 kilometres southwest of the city, you can see it. Satellite […]

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