Archive | January, 2014

Civil society groups call on the EIB to revise its tax havens policy

At the occasion of the annual meeting between the EIB board of directors and civil society taking place on 3rd February, a group of 10 European organisations including Counter Balance sent a letter to the national directors of the bank and its president. The letter urges the bank to address the loopholes in its tax […]

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Briefing paper on Emerging Capital Partners case and review of European law on money laundering

The Ibori case, in which EU developement money was channeled through a private company to arrive at companies which were reported to be fronts of the corrupt Nigerian politian James Ibori, showed that money laundering of EU money is still a real threat. Dotun Oloko, the whistle blower of this case provided us with a […]

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Big loans to big players

Source: Kuba Gogolewski, Mada Masr To many outsiders looking in, the seemingly resounding “yes” vote in Egypt’s recent constitutional referendum might suggest that, three years on from the January 25 protests that kick-started the country’s revolution, the democratic transition is healthily moving forward. Yet the violence that occurred last week during the third anniversary of […]

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EBRD hiding head in the sand on Egypt democracy

Source: Kuba Gogolewski, The Daily News Egypt Individual rights, gender equality, freedom of religion, freedom of thought and opinion, freedom of press, the right to go on strike — all these and other rights and freedoms are enshrined in the new constitution that Egyptians voted overwhelmingly in favour of. But do these words turn Egypt […]

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Civil society letter: EBRD’s political mandate and value added in Egypt doubtful

With this letter 14 organisations from the MENA region and Europe bemoan the lack of clear purpose and effectiveness of the EBRD’s democratic principles that are being undermined by the bank’s moves towards making Egypt a full country of operations despite having significant concerns about the state’s conformity with these principles. Read the full letter […]

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Alleged Mafia links and corruption lead to calls for OLAF investigation into EIB-backed Italian motorway

Brussels – Today three NGOs [1] filed a complaint with OLAF, calling on the EU’s anti-fraud office to open an investigation into a EUR 350 million European Investment Bank (EIB) loan for a motorway project in Italy. The project and several subcontracting companies are under investigation by the Italian authorities for alleged fiscal fraud and […]

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EU-Milliarden versickern bei der Mafia

Originially appeared in Deutsche Wirtschafts Nachrichten Bürger-Initiativen fordern den sofortigen Stopp von EU-Subventionen an die italienische Mafia. Diese leitet seit Jahren Steuergelder aus EU-Projekten ab. Die anfänglichen Kosten für ein Straßenbau-Projekt in Nord-Italien verdoppelten sich so auf 1,3 Milliarden Euro. Die europäische Anti-Betrugs-Behörde OLAF erhielt eine offizielle Beschwerde von drei Nicht-Regierungsorganisationen (NGOs). Sie verlangen eine […]

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EBRD set to backtrack on environmental and social safeguards

A draft released yesterday of the Environmental and Social Policy of the European Bank for Reconstruction and Development shows that, instead of strengthening the policy to provide for better implementation, the bank opens several loopholes which ensure that approval of financing is achievable for problematic projects. The Bank often claims that its investments bring added […]

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EU-funded project in Italy suspected of mafia links

By Valentina Pop, originally appeared in the EU Observer Berlin – Three NGOs on Wednesday (22 January) filed an official complaint with the EU anti-fraud office, Olaf, demanding an investigation into an EU-sponsored motorway in Italy, where construction firms are suspected of fraud and infiltration by the mafia. The project at stake is the Passante […]

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