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EIB 60th Anniversary: bank Governors called to act on key reforms in NGO open letter

For the 60 Anniversary of the European Investment Bank (EIB), a group of 21 European NGOs sent a letter to the Governors of the bank who are meeting in Luxembourg on 22 June 2018. This open letter highlight key challenges for the EIB in the context of the negotiations over the next EU budget and the […]

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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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European public banks drive climate change instead of reversing it

’Assessing the amount of ‘unburnable carbon’ embedded in international financial institution portfolios’, a study prepared by the Bretton Woods Project found that: Multilateral Development Banks (MDBs) [1] have $20 billion of active investments in fossil fuel projects with a carbon potential of the equivalent of 29.3GtCO2 (gigatons of carbon dioxide). The carbon potential of the […]

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Stuck in the market? 25 years since the fall of the Berlin Wall: what now for the EBRD?

Harsh, embedded economic realities such as widespread, high unemployment across central and eastern Europe, as well as the discernible trend of democratic retrenchment in several EBRD recipient countries, are resulting in very mixed feelings about the transition process in this year of important anniversaries. This new analysis of how the EBRD conducts its financing and […]

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Can the EIB lead the European economy out of crisis by championing EU climate policy?

From Bankwatch Mail The European Investment Bank, the biggest multilateral public bank in the world by lending volume and the self-styled ‘EU bank’, has recently announced that it will be reviewing its approach to climate change in the coming months. According to comments made by EIB vice-president Philippe de Fontaine Vive to civil society representatives, […]

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Opportunities and expectations towards the EIB climate policy review

After effectively phasing out lending to lignite and coal-fired power plants in its energy policy in 2013, the EIB is now reviewing its climate policy. This joint NGO letter expresses the expectations towards the EIB to align its lending further with climate science and the EU Roadmap 2050 by proposing a genuine strategy for the […]

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Bankwatch analysis of EBRD operations in CEE at 25 years since the fall of the Berlin Wall

Warsaw – As the EBRD celebrates 25 years since the fall of the Berlin Wall and the benefits it has brought to its countries of operation in the post-socialist space, a new Bankwatch report criticises the bank for having systematically promoted a „markets above all” approach, which has often put democratic and environmental concerns on […]

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Concrete boots already for new EBRD energy policy? Potential support for Egyptian coal projects attracts criticism

From Bankwatch Mail In what is shaping up to be another controversial chapter in the European Bank for Reconstruction and Development’s already troubled entry into Egypt in 2012, questions are being asked of the international financial institution as to whether it intends to support coal power financing, specifically to assist Egypt’s cement industry. The Egyptian […]

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Heavy on the process – EBRD review of governance policies may disappoint many

From Bankwatch Mail The EBRD’s board of directors is expected, on the eve of the bank’s annual meeting in Warsaw, to approve new ‘good governance’ policies that will have significant bearing on the institution’s future activities. The EBRD’s Environmental and Social Policy, its Public Information Policy and the Rules of Procedure for the EBRD Project […]

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NGO comments on the EBRD’s Project Complaint Mechanism Draft Rules of Procedure

This comment letter, signed by 16 civil society organisations, focuses on the provisions that directly affect complainants’ access to the PCM. Specifically, our concerns relate to the Draft Rules of Procedure registration and eligibility criteria, and provisions regarding complainant participation at various stages of the PCM process. Read the full letter here

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