From the producers of ‘Financial Crisis: The Meltdown’: THE MONSTER THAT ATE DEVELOPMENT. Coming soon to a Southern economy near you

Development finance used to be simple. Development banks lent to ‘developing’ countries, using loan conditionalities that precisely stopped those countries from developing, to do big, unpleasant, socially damaging projects, and it was our job as activists to stop them. And how we complained, about project standards and disclosure policies and EIAs. Well, to quote the […]

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Hilfsgelder für sambische Kupfermine in der Kritik

In epo – Kurz vor dem Besuch von Entwicklungsminister Dirk Niebel (FDP) in Sambia hat die Umweltorganisation urgewald gemeinsam mit europäischen Partnern einen Bericht zum fragwürdigen Entwicklungs-Beitrag des Kupferbergbaus in Sambia veröffentlicht. Der Bericht “The Mopani copper mine, Zambia – How European development money has fed a mining scandal” untersucht die Probleme der Mopani-Kupfermine, zu […]

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Cover Mopani report

The Mopani copper mine, Zambia – How European development money has fed a mining scandal

The Mopani copper mine’s contributions to Zambia’s economy and budget are inexistent, the mining company’s social policy is marked by a race to the bottom and it leaves a devastating impact on the environment. This is the conclusion of the report “The Mopani copper mine, Zambia – How European development has fed a mining scandal”, […]

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EU money earmarked for African development winds up in tax havens and African banks, report claims

By Leah Hyslop  in The Telegraph – A new report alleges that the European Investment Bank’s lending practices in Africa facilitate tax evasion and corruption. Counter Balance, a coalition of NGOs dedicated to challenging the European Investment Bank (EIB), issued the report, entitled Hit and run development: some things the EIB would rather you didn’t […]

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Europe’s poverty aid programme for bankers and tax havens

By David Hencke on his Blog – Not quite the aid bankers have in mind. Picture courtesy The Guardian When you think of aid to the starving poor in Africa, you think of Oxfam or Christian Aid. You don’t think of wealthy bankers, private equity companies or tax havens. Yet a report out  examining in […]

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Bericht kritisiert Afrika-Engagement der EIB

In epo – Europäische Entwicklungs-Organisationen haben einen neuen Bericht veröffentlicht, der Globaldarlehen und Private Equity Beteiligungen der Europäischen Investitionsbank (EIB) in Afrika nachgegangen ist. Dem Bericht mit dem Titel “Hit and run development” zufolge, der von der NGO-Koalition “Counter Balance” herausgegeben wurde, haben diese Finanzinstrumente Steuerflucht und Korruption gefördert und jedweder Entwicklungslogik widersprochen. Die Europäische […]

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EU aid for Africa ends up in tax havens, watchdog claims

By David Hencke in The Guardian – Claims that hundreds of millions of pounds of EU aid for Africa is being handed over to banks and private equity funds and then funnelled into tax havens Hundreds of millions of pounds of European Union aid to help the poor in Africa is being handed over without […]

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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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