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REPORT: The best laid plans: why the Investment Plan for Europe does not drive the sustainable energy transition

by Markus Trilling, EU funds campaign coordinator at CEE Bankwatch If it seems too good to be true, it probably isn’t – a thought that inevitably comes to mind seeing the European Commission and the European Investment Bank congratulating themselves for the great job they’ve done. One and a half years after the launch of […]

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Juncker investment plan: deep reforms necessary for sustainable future, says new joint report

— Brussels, 28 September 2016 – Cash that should be flowing into projects that boost environmental sustainability is instead fuelling outdated carbon-intensive projects like motorways, airports, and fossil-fuel infrastructure, according to a new report on Europe’s investment plan released today [1]. The report analyses projects approved by the European Fund for Strategic Investments (EFSI) in […]

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Report: Institutionalized Corruption in Romania’s Third Largest Company

Brussels, July 12 Counter Balance and its partner CEE Bankwatch have launched a new report exploring corruption cases in Romania’s third largest company. The Oltenia Energy Complex (OEC) is a key player in the energy sector in Romania and today operates ten lignite mines and four power plants. Supposed recipient of a EUR 200 million […]

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Highway to hell – European money fuelling controversial infrastructure projects

Counter Balance and Re:Common are glad to announce the launch of their latest report “Highway to Hell”. Providing an in-depth analysis of two major infrastructure projects in the Veneto region in Italy, the report focuses on the corruption and state capture issues related to them. Both the Passante di Mestre and the Mose projects have […]

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Counter Balance raises concerns on control of infrastructure projects at European Parliament’s public hearing

Yesterday, Wednesday 20 April, Counter Balance intervened during a public hearing at the European Parliament on the “Control of projects and implementation of EU funds in the area of infrastructure and transport – effectiveness and problems”. Organised by the Parliament Budgetary Control Committee chaired by Ingeborg Grässle, the hearing hosted among others representatives from the […]

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Call to financial authorities to intervene on controversial project bonds

Today Counter Balance and Re: Common sent a letter to financial authorities in London and Rome urging them to intervene on the issuance of project bonds linked to Passante di Mestre – a motorway under corruption investigation in Italy. The letter signals to the financial authorities the risks linked to the issuance of a project […]

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EIB set to finance motorway under corruption investigation in Italy

Despite ongoing anti-corruption investigations at national level and calls from the European Parliament not to finance the Passante di Mestre project, the European Investment Bank (EIB) is about to finance the motorway via its Project Bond Initiative. By Elena Gerebizza, Re:common On February 16th the rating agency Moody assigned a provisional A3 rating to the […]

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A High Risk Global Infrastructure Agenda: the Role of Multilateral Development Banks

Last but not least, the third of our series of papers on infrastructure megaprojects focuses on Multilateral Development Banks (MDBs) and their role in supporting the new global infrastructure agenda. As vast expenditures in infrastructure megaprojects are increasingly justified as a means to enhance the life of communities and stimulate economies, Multilateral Development Banks together […]

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A Growing Threat on Debt: the New Global Infrastructure Agenda

Here’s the second of our analysis papers on the new global infrastructure agenda, this time focusing on the debt risks linked to the current promotion of mega-corridors of large-scale infrastructure projects.   As the world economic crisis of 2008 pushed leaders to find renewed recipes for growth, jobs and prosperity, large infrastructure projects appeared as […]

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Danger Ahead: New Global Infrastructure Agenda Could Lock-in Fossil Fuel Technology

Promoted as a “magic bullet” that will lift our economies out of the economic crisis, infrastructure megaprojects are taking a more and more prominent role in the global development model. Governments and development banks financing dams, motorways, oil and gas pipelines are more committed than ever to filling in the supposed “infrastructure gap”. And the […]

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