Tag Archives: EIB

Human rights concerns over EIB loan to TANAP – an Open Letter

  In view of the upcoming EIB Board of Directors meeting on 19 September, Counter Balance along with a group of 25 NGOs has sent an open letter to the bank’s President Werner Hoyer and Directors, highlighting the serious human rights concerns over the Trans Anatolian Pipeline (TANAP) project. As the bank envisages a huge […]

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Out for Summer, Episode 3: EIB Promoting development in Egypt – at what cost?

After the Arab Springs, the European Investment Bank (EIB) and the European Bank for Reconstruction and Development (EBRD) engaged in the support of the country’s transition to democracy, endorsing the priorities of el-Sisi’s new government: energy and economic development. But a few years later, the human rights situation in the country still raises big concerns, […]

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Out for Summer, Episode 2: how public banks support an unsustainable farming giant in Ukraine, ignoring communities’ rights

Myronivsky Hliboproduct (MHP) is a poultry farming giant operating in Ukraine. The company has received several loans by public banks including the European Investment Bank (EIB) and the European Bank for Reconstruction and Development (EBRD), even though its activities are seriously impacting the environment and local rural communities. The banks have so far declined any […]

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Out for Summer, Episode 1: The Ambatovy mine in Madagascar – How the EIB is sweeping a development fiasco under the rug

This summer we would like to shed light on the European Investment Bank’s operations outside the EU. “Out for summer” is a series of articles focusing on different cases of troubled development stories. First stop: Ambatovy, Madagascar. The Ambatovy project, together with the Mopani mine in Zambia, was the last mining project directly financed by […]

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Why Europe must turn off the gas TAP – NGOs, academics & artists sign against the pipeline

Dear Maroš Šefčovič, Vice-President of the European Commission for the Energy Union. Werner Hoyer, President of the European Investment Bank, and Suma Chakrabarti President of the European Bank for Reconstruction and Development. We call on the European Commission to withdraw support for the 878 kilometre long Trans Adriatic Pipeline (TAP), and on taxpayer-funded banks to […]

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A tale of reverse development – the Ambatovy mine case

Originally published by OneWorld. June 16, 2017 by Laurence Soustras, Riana Raymonde Randrianarisoa Green shades of the tropical forest surrounding Madagascar’s largest seaport, Tamatave, is all that Google Maps shows. Then there is the vast expanse of the Indian Ocean. But zooming in, some 20 kilometres southwest of the city, you can see it. Satellite […]

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