New Counter Balance report “Hit and run development”

The new Counter Balance report ‘Hit and run development – Some things the EIB would rather you didn’t know about its lending practices in Africa, and some things that can no longer be covered up’ reveals how the European Investment Bank’s use of intermediated loans and private equity funds facilitates corruption and tax evasion.

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Letter to EIB Vice-president on the Bank’s mining seminar (6th October) and misleading information on the position of civil society

RE:    EIB mining seminar on 6th October 2010 and misleading information on the position of civil society Dear Mr Fontaine Vive, Counter Balance coalition of NGOs monitoring the activities of the European Investment Bank (EIB) is seriously concerned about the recent approach of the Bank, which undermines its attempts towards open and transparent dialogue with […]

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Lake Turkana fishermen

European bank rightly withdraws from controversial Ethiopian dam but decision brings more questions than answers

A coalition of international non-governmental organisations welcomed this week’s announcement by the European Investment Bank [1] that it would no longer consider financing for the Gibe III hydroelectric project in Ethiopia.

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Counter Balance statement on the Commission proposal for the EIB’s mandate to lend outside the EU

The Commission proposal for a new European Investment Bank (EIB) mandate to lend outside the European Union contains several improvements compared to the previous version and includes various points that were raised by NGOs in the past. However, it leaves many concrete aspects to further decisions and allows a broad interpretation of important obligations. And […]

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European Investment Bank Annual General Meeting 8th June 2010: A Word of Warning

It’s the European Investment Bank’s Annual General Meeting 2010. That means lots of self-congratulatory back-slapping and carefully selected statistics being waved around by men in suits. Don’t get us wrong: we at CounterBalance may be consistent critics of the EIB, but we do recognise some of the efforts the Bank is making to be less […]

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The European Parliament, the democratic EU institution, vindicates Counter Balance positions and concerns on the EIB

Counter Balance, the NGO coalition that monitors the European Investment Bank, welcomes today’s European Parliament (EP) resolution on the EIB, especially its recommendations on closer supervision, greater transparency and access to information. Counter Balance concurs with many of the recommendations of the EP, notably: •    Strengthening the Audit Committee “to ensure the EIB is soon […]

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