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Decision on a fossil fuels ban at the EIB postponed once more

Today the European Investment Bank (EIB) decided to again, postpone the long overdue adoption of a new Energy Lending Policy. This delay is mostly due to tensions around the EIB’s proposal to phase out lending to fossil fuels. Several shareholders, including Germany, and the European Commission are pushing back on what would be a precedent […]

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European Commission criticises the EIB’s role as a development bank

The European Commission recently published an evaluation of EIB development operations under its External Lending Mandate during the period 2014-2018. The Commission’s findings confirm our previous assessments and repeated calls for improvements in the fields of transparency, human rights due diligence and development impacts of EIB projects. The European Investment Bank (EIB) has for years […]

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Open letter from NGOs to support a fossil fuels ban at the EIB

Over 70 civil society groups call on European Investment Bank to stand behind proposal to stop funding fossil fuels, and to fight European Commission attempts to undermine ambition Today, over 70 civil society groups spanning dozens of countries – including major international groups – sent a public letter to European Investment Bank (EIB) leadership, calling […]

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Gaining control – an MEP toolkit to get the EIB on track

Counter Balance’s new guide for MEPs aims at having parliamentarians monitor the European Investment Bank more closely. The ‘EU Bank’ is the biggest public bank in the world. Last year it spent EUR 65 billion and it is at the heart of investment plans designed at EU level. The bigger the EIB grows, the more […]

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Spotlight on financial justice – understanding global inequalities to overcome financial injustice

Citizens for Financial Justice new report – Spotlight on financial justice: understanding global inequalities to overcome financial injustice – is being released on Thursday 26 September 2019, to coincide with the High Level Dialogue on Financing for Development at the UN. The report was compiled by Citizens for Financial Justice partners and other contributors, coordinated […]

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EIB to stop financing fossil fuels by end 2020

Today, the European Investment Bank (EIB) published a draft of its new Energy Policy which proposes to end support to all fossil fuels beyond 2020. The draft policy is now to be approved by the bank’s shareholders, the EU Member States. Brussels, 26 July 2019 The EIB, the financial arm of the European Union, is […]

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Human Rights Defenders in EIB-financed projects: a long way to go

From Colombia to Kenya, 25 cases of threats and attacks against human rights defenders reveal how development financiers can fuel abuses or help fight them By Aleksandra Antonowicz-Cyglicka, Bankwatch A new report from the Coalition for Human Rights in Development and the Defenders in Development Campaign reveals the alarming impact ill-planned investments in infrastructure, energy, […]

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Racing against the clock: Kenyan villagers under imminent threat of eviction by project under EU’s bank’s appraisal

Originally published on bankwatch.org Today’s European Development Days forum in Brussels with its aspirational motto ‘building a world which leaves no one behind’ is an ironic backdrop to what is happening in the remote parts of Kenya, where a whole community is facing a threat of forced eviction by a project under appraisal of the […]

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#EP2019: Will you stand up for financial justice?

The objectives of the European Union are being diverted from its foundations as a union for peace and solidarity, towards servicing the interests of the financial elite. As part of the Citizens for Financial Justice network, we’re calling on European election candidates to stand up for financial justice and pledge to put people before profit: […]

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Development in reverse, Episode 4: MHP agri-food in Ukraine

In Ukraine, the EIB, together with the EBRD, the IFC and some export credit agencies, is financing the company Myronivsky Hliboproduct Pjsc (MHP), controlling all aspects of the poultry production chain, with an 82 million EUR loan. Being among the three main suppliers of poultry to the EU, the company has virtually grown into a […]

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