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The EIB needs to lead by example on tax justice, says new report

Brussels, 3 April 2018 On the second anniversary of the Panama Papers and in the wake of the European Commission’s latest communication on EU anti-tax avoidance requirements on financing and investment operations, a new report by Counter Balance calls on the European Investment Bank (EIB) to develop a responsible policy and “show the way“ in […]

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Auditors expose the failure of public-private partnerships (PPPs) and slam EU’s support

Published jointly with Eurodad Tuesday March 20 2018 The European Court of Auditors today slammed Public-Private Partnerships (PPPs), stating that they were ‘not always effectively managed and did not provide adequate value-for-money’. The report, entitled “Public Private Partnerships in the EU: Widespread shortcomings and limited benefits” looks at PPPs in several EU countries. Inefficient spending […]

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Controversial Turkish-Azerbaijani gas pipeline gets major EU loan

15 March 2018 Prague, Brussels, Rome, London – Today the board of directors of the European Investment Bank (EIB) green-lighted a EUR 932 million loan to the Trans Anatolian gas pipeline (TANAP), the Turkish section of the Southern Gas Corridor, a month after handing out the largest ever fossil fuels loan to the western section of the […]

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The EIB gets an expanded mandate for its operations outside Europe

Press release: Counter Balance, CEE Bankwatch Network Brussels, 8 February 2018 The European Investment Bank (EIB) found itself in the spotlight during this week’s debates in the European Parliament. MEPs were called to give direction to the EU house bank’s development role through the amendment of its 2014-2020 external lending mandate. Today the European Parliament […]

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Controversial gas pipeline gets EUR 1.5 billion in public money amid massive climate risk

CEE Bankwatch Network, Counter Balance, Friends of the Earth Europe, 350.org 6 February 2018 Prague, Brussels The European Investment Bank (EIB) voted today to hand out one of Europe’s largest ever loans to one of the EU’s largest fossil fuel projects, the contentious Trans Adriatic Pipeline (TAP). The loan approval follows the release of a […]

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New study shutters EU claims on climate benefits from flagship energy project

Originally published by Bankwatch. The controversial Southern Gas Corridor, the EU’s flagship energy project, could be as emissions-intensive as coal power or even more, a new study reveals. 30 January 2018 In less than two weeks the Trans Adriatic Pipeline (TAP), a key section of the Southern Gas Corridor, could be awarded a record EUR […]

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