Archive | February, 2015

EIB’s inquiry into Mopani leaves a sour taste

The European Union’s Ombudsman recently recommended that the Inspector General’s office of the European Investment Bank declare itself unable to […] read more on Arifca Intelligence website

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EBRD has to say no to Egyptian coal imports

Cairo — Ahead of tomorrow’s Board vote on the EBRD loan to CEMEX Egypt, a number of civil society organisations urge the bank to reject this project not only because it involves support for dirty coal-based production but also because it actually means promoting the plans of a repressive government despite opposition from civil society. […]

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EIB needs reform so Juncker’s investment plan can deliver

The European Investment Bank (EIB) has a major role in the European Commission’s investment plan but a fundamental reform of the lender is needed if it is to be an effective driver of economic recovery. EU finance ministers need to talk more than just numbers when they meet on Tuesday in their capacity of Governors […]

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Juncker’s €315bn investment plan for EU in trouble as Nobel scientists criticise raid on space and research budget

By Nick Mathiason, originally appeared on the Bureau of Investigative Journalism Jean-Claude Juncker’s flagship policy to revive Europe’s moribund economy by investing €315bn in new infrastructure projects has run into controversy just two months after it was launched. Nobel prize winning scientists are among those angered by a move to raid €2.7bn from the EU’s pioneering research, space and […]

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EU priority gas pipeline faces fierce opposition in Italy

The Southern gas corridor, a gas pipeline that has to bring gas from Azerbaijan all the way to Italy and which has been prioritized by the European Commission has come under serious pressure because of strong opposition from local communities where the pipeline enters the land. Marco Potì, major of the town Melendugno in Southern […]

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Mopani copper mine, Zambia

In February 2005, the EIB granted a EUR 48 million loan to Mopani Copper Mine (MCM)[1] for the rebuilding and modernisation of the Mufulira copper smelter. The project was supposed to stimulate economic growth and reduce poverty, secure and stabilize employment in Mufulira and improve the quality of the environment by reducing sulfur and dust […]

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Long awaited investigation into Glencore for alleged tax dodging shows EU Bank’s lack of transparency and vulnerability to abuse

The European Investment Bank (EIB) is virtually powerless in the face of abuse of its own funds, an internal investigation published last week by the EIB shows. What’s even worse is that the EIB’s new transparency policy – to be adopted in the coming weeks – would formally allow the bank to keep such internal […]

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Long awaited investigation into Glencore for alleged tax dodging shows EU Bank’s lack of transparency and vulnerability to abuse

Brussels – The European Investment Bank (EIB) is virtually powerless in the face of abuse of its own funds, an internal investigation published last week by the EIB shows. What’s even worse is that the EIB’s new transparency policy – to be adopted in the coming weeks – would formally allow the bank to keep […]

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European Investment Bank confirms plans to finance Trans-Adriatic Pipeline

On February 2, during the annual meeting between civil society and the European Investment Bank’s (EIB) Board of Directors, the EIB revealed that the Trans-Adriatic Pipeline (TAP) was among its priority projects for 2015 in the Balkans.[*] By Kuba Gogolewski, MENA project coordinator, crossposted from Bankwatch website The Trans-Adriatic Pipeline, planned to stretch from Greece […]

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