Southern Gas Corridor update: Russian involvement increasingly evident

While new public finance for the Southern Gas Corridor is lining up, the European Commission’s narrative that the pipeline would relieve Europe’s dependence on Russian gas continues to crumble. — By Ido Liven, originally published by Banwkatch — Another chunk of EU public money could soon be going to the Russian component of the Southern […]

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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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European Parliament improves the External Investment Plan, but significant challenges ahead

Brussels, 6 July 2017 By ActionAid & Counter Balance The European Parliament has just [6 July] adopted the final regulation setting up the External Investment Plan and its financial pillar – the so-called European Fund for Sustainable Development (EFSD) [1]. The creation of this investment plan was announced by the president of the European Commission […]

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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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A tale of reverse development – the Ambatovy mine case

Originally published by OneWorld. June 16, 2017 by Laurence Soustras, Riana Raymonde Randrianarisoa Green shades of the tropical forest surrounding Madagascar’s largest seaport, Tamatave, is all that Google Maps shows. Then there is the vast expanse of the Indian Ocean. But zooming in, some 20 kilometres southwest of the city, you can see it. Satellite […]

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European Parliament criticizes the Juncker Plan implementation

Brussels/Strasbourg, 15.6.2017 The European Parliament adopted today a critical resolution on the implementation of the Investment Plan for Europe (so-called “Juncker Plan”) and its flagship initiative – the European Fund for Strategic Investments (EFSI). Counter Balance welcomes the report adopted, although it paid little attention to the harmful environmental and climate impacts of projects supported […]

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