“EIB must withhold funding Bujagali dam until major problems are addressed”

Following a highly critical assessment from a World Bank body on the impacts of the USD 799 million Bujagali dam in Uganda, the campaign coalition Counter Balance has called on the European Investment Bank (EIB), a joint funder of the controversial project with the World Bank, to withhold any further disbursement of its USD 130 […]

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EU Bank ‘Financing Destruction’ in Africa

By David Cronin for IPS – The European Union is financing ecologically and socially destructive projects in Africa, a Brussels conference has been told. Officially, the Luxembourg-based European Investment Bank (EIB) is committed to using the 53 billion euros (67 billion dollars) it releases each year, to pursue policies that protect the environment and alleviate […]

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Memo for European Parliamentarians in the run-up to the discussion of EIB Annual Report 2007

Counter Balance input to the European Parliament in the run-up to the discussion of EIB Annual Report 2007. Read it here

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A law unto itself

By David Cronin in The Guardian – The EIB dwarfs even the World Bank with its lending. About time, then, that its EU masters exercised some ethical control. Located in small and sleepy Luxembourg, the European Investment Bank is not in the habit of grabbing headlines. So perhaps it’s a measure of how desperate politicians […]

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A better return for our money

Appeared in European Voice The European Investment Bank (EIB), the EU’s publicity-shy house bank, has shot to prominence in recent weeks as the global economic crisis has deepened. Nationally and collectively, EU leaders have scrambled to boost lending to small businesses that are being hit by the credit crunch. José Manuel Barroso, the president of […]

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ECJ ruling puts EU house bank on the spot: deliver on development role or stop lending outside Europe

Brussels, Belgium – A decision from the European Court of Justice (ECJ) to annul the External Lending Mandate (ELM) of the European Investment Bank (EIB) has been warmly welcomed by Counter Balance, the Europe-wide campaign coalition advocating systemic reform of the EIB. The ECJ decision of November 6, which applies to the EIB’s lending activities […]

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