Proposal for amendments to the Decision dealing with the renewal of the Community budget guarantee to the EIB

In November 2008, the European Court of Justice (ECJ) annulled the EIB’s main mandate to lend outside the EU, ruling that any new mandate should be based on a section of the Treaty establishing the European Community (EC Treaty) that requires “the sustainable economic and social development of the developing countries, and more particularly the […]

Read more

“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 […]

Read more

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 […]

Read more

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

Read more

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 […]

Read more

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 […]

Read more

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 […]

Read more

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

Read more

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 […]

Read more

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 […]

Read more