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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Conference “Coherent for development? Development check of the financing activities of the European Investment Bank” in Berlin

This event is organised by Counter Balance, urgewald and WEED. The report “Coherence for Development: Development check of the financing activities of the European Investment Bank” is a result of the conference. Read it here

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EU Involvement in DRC Mining Project Draws Protest

By Michael Deibert for IPS – The involvement of the European Union in a mining project in the Democratic Republic of Congo (DRC) has drawn a chorus of protest from local and international human rights advocates. They say the project is rife with problems relating to transparency and accountability. Located some 175 km north-west of […]

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EU development money extracting more wealth from Africa, finds new report on Congolese copper mine

A EUR 100 million loan from the European Investment Bank (EIB) for the Tenke Fungurume Mine mining project in the Democratic Republic of Congo (DRC) has proceeded in spite of rampant corruption, human rights violations and social tensions surrounding the copper-cobalt mine’s development, according to a new report from the campaign coalition Counter Balance: Challenging […]

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Letter to EIB’s president Maystadt on the Chad Cameroon oil pipeline project

Letter addressed to the EIB’s president Philippe Maystadt, requesting an independent investigation into the EIB’s flawed due diligence on the ill-fated Chad Cameroon oil development and pipeline project. Read the letter here

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Soul mining: The EIB’s role in the Tenke Fungurume Mine, DRC

The Tenke project, in the Democratic Republic of Congo (DRC), is one of the largest copper-cobalt deposits. The American company Freeport McMoRan (formerly Phelps Dodge) and Canada’s Tenke Mining together hold a majority stake in the project. On July 17, 2007, the EIB approved a EUR 100 million loan for the project. The Tenke Fugurume […]

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