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25 NGOs call for an independent and efficient Complaints Mechanism at the EIB

Brussels, 29/9/2017 Today, a group of 25 Civil Society Organisations provided comments on the draft Policy and Procedures for the Complaints Mechanism (CM) of the European Investment Bank currently undergoing public consultation. The signatories – a variety of groups based in Europe, the US and the Global South – call for fundamental reforms to the […]

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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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New report: Towards a better model for public development banks

Today the NGO Network Eurodad published the report “Public Development Banks: Towards a better model” which proposes a blueprint for successful public development banks at national, regional and global level. With this blogpost, we highlight some of the issues raised in the report, and how they are relevant for the main institution we are monitoring: […]

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Azerbaijan suspended from the EITI – a Bankwatch and Counter Balance statement

A decision to suspend Azerbaijan’s membership in the Extractive Industries Transparency Initiative (EITI) adopted yesterday (Mar 9) is the latest reminder for international financial institutes to avoid supporting the Southern Gas Corridor (SGC) project   In 2015, the EITI board downgraded Azerbaijan’s membership status due to its relentless crackdown on civil society, political opponents and […]

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EU Ombudsman to investigate EIB for maladministration

Brussels, 2 March 2017 The European Investment Bank (EIB) is being investigated for maladministration, after the European Ombudsman sent a formal letter opening the case this week (27 February 2017). The investigation comes after ClientEarth, CEE Bankwatch Network and Counter Balance highlighted the lack of transparency at the bank, and its attempts to block scrutiny. […]

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The NGOs’ point of view presented to the EIB Board of Directors

Human rights, climate, accountability. These are the main areas needing urgent improvement in the EU’s bank activities, flagged NGOs to the EIB Board of Directors last Monday 30th January, on the occasion of the traditional annual meeting with civil society. There, the Counter Balance coalition did not miss the chance to raise the most urgent […]

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