Archive | March, 2008

EU house bank’s penchant for dodgy deals in Africa must end, demand campaigners

European Investment Bank (EIB) announced last week that it would endorse and support the Extractive Industries Transparency Initiative (EITI). The EIB, which has invested over EUR 700 million in large scale mining projects in Africa since 2000, stated that it is ‘committed to promoting good transparency and governance in all the projects it finances’. [1] […]

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The shadowy bank that has loaned £150bn of your cash

By Heather Stewart in The Observer – The European Investment Bank is bigger than the World Bank or the IMF. Yet, critics complain, the little-known lender is lavishing taxpayers’ money on ‘pet projects’, some of which fly in the face of development priorities. Heather Stewart reports Middle Eastern sovereign wealth funds are bestriding the global […]

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