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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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Solidarity protests demand EIB pledge against financing new pipeline

Originally published by 350.org. 14th November, Europe. Starting today activists are undertaking an international series of coordinated protests at financial institutions and the UN climate negotiations in Bonn, Germany to demand that the European Investment Bank (EIB) pledges not to sink public funds into a risky new gas expansion project – the Trans Adriatic Pipeline (TAP). […]

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EIB pioneer investment in climate fund turns into a crash dive, according to NGO report

Brussels, 28 Feb Showcased as the ultimate initiative to fight climate change, the European Investment Bank (EIB)’s participation in the Althelia Climate Fund is nothing like the social and environmental success it was described to be – say the NGO Re:Common and Counter Balance in a new report released today. Contributing up to €25m in […]

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Trans-Adriatic Pipeline a major risk for banks, warns new analysis

Brussels, Belgium — An analysis published today by the finance watchdog groups Counter Balance and BankTrack has warned potential commercial bank investors to steer clear of the Trans-Adriatic Pipeline (TAP) owing to the project’s non-compliance with the Equator Principles, a set of risk management guidelines for project finance adopted by 89 commercial banks around the […]

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Bratislava Bypass, flagship EFSI failure: non-transparent decisions for dubious public benefit – New report

  A EUR 1.76 billion-worth project guaranteed through the European Fund for Strategic Investments (EFSI)i, the Bratislava Bypass is a public-private partnership (PPP) supported by the Slovak government and promoted as the biggest EFSI project in Central Eastern Europe. Yet, preferred by the government to greener and more effective solutions to the traffic problems of […]

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Here be dragons: How the EU bank’s development finance overlooks people at risk

By Ola Antonowicz-Cyglicka, Development campaigner, Poland, Bankwatcth. Originally published here. The European Investment Bank’s failure in safeguarding the most vulnerable groups shows it is ill-equipped to help refugees and host communities in the European Union’s neighbourhood. A new report explains the bank’s weaknesses in identifying and responding to human rights risks. According to a European […]

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