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Development in Reverse – Episode 1: Ombudsman bashes EIB for mishandling a mining fiasco

Brussels – In an unprecedented ruling, the European Ombudsman concluded that the European Investment Bank (EIB) mishandled complaints about a major mining project it financed in Madagascar. The Ombudsman ruled maladministration for the EIB massive delays in handling the case and highlighted the poor monitoring on the implementation of the project on the ground. The […]

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EIB to weaken accountability mechanism, despite civil society criticism

Brussels, 13 November 2018 In a step backwards for the EU bank’s transparency and accountability, the Board of Directors of the European Investment Bank (EIB) has approved a controversial new policy for its Complaints Mechanism, a move that will take the bank further away from the communities affected by its operations – say NGOs. The decision […]

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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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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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EU’s Africa plan must put aid goals front and centre

Originally published on Public Finance International. By: Xavier Sol 30 Nov 17 Development objectives need to come first in the EU’s new External Investment Plan and be backed by high levels of transparency, says Xavier Sol of Counter Balance European Union leaders this week met their African counterparts in Abidjan, Cote d’Ivoire, for the fifth […]

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