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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With a little help from the European Commission: TAP and the Southern Gas Corridor

by Elena Gerebizza, originally published by Re:Common Last week Baku hosted the 4th Southern Gas Corridor Advisory Council Meeting. The event saw the participation of representatives from the governments involved in the project, but also the European Commission Vice President Maroš Šefčovič, who in the last few months hasn’t missed a single chance to stress […]

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European Parliament criticizes the EIB for lack of action on climate and taxation

8 March 2018 Today, the European Parliament approved a critical report on the activities in the financial arm of the EU – the European Investment Bank (EIB). This report sends a strong signal to the bank: it needs to step up its sustainability, transparency and accountability. Yesterday, in a debate in the plenary 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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