conrad-nightmare cover

RDC Grand Inga Dam is Conrad’s Nightmare – The World’s Biggest Dam and Development’s Heart of Darkness

“Under the guise of bringing power to poor Africans, development banks are looking to put tens of billions of public money into a flight of fantasy that would only benefit huge Western multinationals and quite possibly feed African energy into European households,” said Anders Lustgarten, Counter Balance /Bretton Woods Project (UK), which scrutinises the World Bank and IMF.

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Bujagali falls (foto International Rivers)

Ugandan citizens’ complaint against EUR 95 million EIB loan for Bujagali Hydropower Dam

Press Release, Brussels, 25 November 2009. The Bujagali Hydropower Project is a 250-megawatt power-generating facility developed by Bujagali Energy Limited, a joint venture between Kenya-based Industrial Promotion Services (IPS), the Aga Khan Fund for Economic Development, and US-based Sithe Global Power, with construction by Italy’s Salini. Following the findings of a field mission in Uganda […]

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“The European Investment Bank – ready for development?” – conference organised by Counter Balance coalition

24 September 2009 Counter Balance – Challenging the European Investment Bank is pleased to invite you to a conference on: “The European Investment Bank – ready for development?”, November 18-19, 2009 Brussels, Belgium on the European Union’s (EU) house bank’s new role as a development institution, and the reforms needed to address its new challenges. […]

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Letter to the EU Climate Action Commissioner adressing CSO concerns about EC and EIB role in climate finance

Re: Concerns of Civil Society Organiations about the role of European Commission and the European Investment Bank in climate finance Dear Commissioner Hedegaard, According to what we learned from media reports and institutional statements, the European Commission and the European Investment Bank (EIB) are exploring a joint climate finance initiative for developing countries as part […]

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Counter Balance asks the EIB to do more and soon on cracking down tax havens

“The European Investment Bank (EIB) new interim policy towards offshore financial centres (OFCs) announced today is a first step in the right direction”, says Counter Balance spokesman – member of the Italian Campagna per la Riforma della Banca Mondiale, Antonio Tricarico. “Unfortunately it is also insufficient to tame the gigantic tax elusion of transnational business”. […]

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