Counter Balance briefing on the Wise Persons’ Panel report evaluating the external lending mandate of the EIB

Counter Balance admires the extensive analysis that the Wise Persons’ Panel has undertaken of EIB lending activities outside the European Union, and particularly its willingness to begin to address the developmental impacts of that lending. There are many proposals put forward by the panel that can help European development finance begin to aid genuine development—as […]

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EIB Quits Tenke Fungurume Mining Project: It’s Time for Extractives Review

The EIB confirmed today that it will not finance the first phase of the Tenke Fungurume mining project in the Democratic Republic of Congo. The Tenke project, one of the largest copper-cobalt deposits in the world and majority owned by the giant American mining conglomerate Freeport McMoRan, is notorious for lack of transparency and corruption […]

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NGO response to Salini’s misinformation on the “STOP GIBE 3” campaign

Counter Balance, Campagna per la Riforma della Banca Mondiale (CRBM), Friends of Lake Turkana (FoLT) and International Rivers launched a campaign last week to halt the Gibe 3 Dam in Ethiopia (www.stopgibe3.org ). The Gibe 3 project contractor, Salini Costruttori, reacted publishing misleading and highly debatable information in two related press releases dated March 26 […]

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International NGOs Launch Campaign to Stop Man-Made Disaster in Ethiopia

Campagna per la Riforma della Banca Mondiale * Counterbalance * Friends of Lake Turkana * International Rivers Joint press release International NGOs are calling for the halt of the destructive Gibe 3 Dam on Ethiopia’s Omo River. The dam threatens the land and livelihoods of 500,000 tribal people in Southern Ethiopia and Northern Kenya. By […]

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Camdessus is taking our eyes off the ball

Appeared in European Voice Our eyes should be on how well the European Investment Bank is lending money in the developing world. The frisson of excitement that has greeted the ambitious suggestion by Michel Camdessus, the former head of the International Monetary Fund, to create a new body called the European Development Bank (“Radical reforms […]

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The European Investment Bank in the ACP countries – critical points for the Mid-term review of the Investment Facility

The purpose of this submission is to raise some of the critical points that we believe need further exploration by the external experts evaluating the Investment Facility of the EIB. Read the full submission here

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