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€1.5 billion public loan for controversial pipeline withheld

December 12, 2017 Prague, Brussels, Berlin Today, at a board meeting in Luxembourg the European Investment Bank (EIB) has decided, for now, not to waste €1.5 billion in public funds on the controversial Trans-Adriatic Pipeline (TAP). A growing number of civil society groups are calling on the EIB not to fund this fossil fuel pipeline. […]

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EU bank lent €5.3 billion to fossil fuel projects between 2014 and 2016 despite climate urgency

Brussels, 28 September 2017 While depicting itself as a pioneer in the global fight against climate change, the European Investment Bank (EIB) still massively endorses fossil fuel projects, dooming the EU to fail the Paris agreement commitments. The EU’s bank irresponsible climate conduct figures among the conclusions of a new report by the Overseas Development […]

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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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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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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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European Fossil Fuel Subsidies Awards – Public Vote

Counter Balance supports the European Fossil Fuel Subsidies Awards, launched by CAN Europe. Most governments don’t like to talk about the fact that they are giving money to fossil fuels, and in some cases they do what they can to hide them. It is simply unfair to European citizens to keep these subsidies in the […]

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