Tag Archives: tax havens

European Parliament criticizes the Juncker Plan implementation

Brussels/Strasbourg, 15.6.2017 The European Parliament adopted today a critical resolution on the implementation of the Investment Plan for Europe (so-called “Juncker Plan”) and its flagship initiative – the European Fund for Strategic Investments (EFSI). Counter Balance welcomes the report adopted, although it paid little attention to the harmful environmental and climate impacts of projects supported […]

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New report: Towards a better model for public development banks

Today the NGO Network Eurodad published the report “Public Development Banks: Towards a better model” which proposes a blueprint for successful public development banks at national, regional and global level. With this blogpost, we highlight some of the issues raised in the report, and how they are relevant for the main institution we are monitoring: […]

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Un informe denuncia vínculos del Banco Europeo de Inversiones con paraísos fiscales

Originally published on El Boletin. La coalición de ONGs Counter Balance desvela también múltiples casos de puertas giratorias. David P. Fernández / 15-09-2016 La coalición de ONGs, Counter Balance – Challenging public investment banks (Contra Balance – Desafiando a los bancos públicos de inversión) ha publicado un informe en el que analiza el uso que el Banco […]

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La banque de l’UE investit des fonds publics dans les paradis fiscaux

Originally published on Mediapart.fr . PAR LUDOVIC LAMANT ARTICLE PUBLIÉ LE MERCREDI 14 SEPTEMBRE 2016 La  Banque  européenne  d’investissement  (BEI)  a investi près de 500 millions d’euros dans des fonds localisés dans des paradis fiscaux ces dernières années, selon une étude que des ONG publient mercredi. Elles s’inquiètent de l’opacité qui entoure ces placements. De  […]

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Il lato oscuro della Banca Europea per gli investimenti

Originally published on L’Espresso. È il braccio finanziario dell’Unione europea con un portafoglio di miliardi di euro per progetti che portano lavoro, crescita e innovazione. Ma anche operazioni non trasparenti in paradisi fiscali e giurisdizioni sospette, e perfino casi di conflitti di interesse. Come svela il rapporto della ong Counter balance Michele Sasso 14 settembre […]

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Report reveals the “dark side” of EIB funds: how the EU’s bank supports non-transparent investment funds based in tax havens

Counter Balance launches today a new report that critically analyses a little-known part of the European Investment Bank (EIB)’s operations: its use of private equity funds. The report presents a number of statistics and facts about recent investment funds financed by the EIB during the period 2011-2015. Main findings are that: – The EIB supports […]

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“Fight tax havens, start with the European Investment Bank”, argues new report

The European Investment Bank (EIB) was the first Development Financial Institution (DFI) to adopt a tax haven policy in 2009. However, more than five years on EIB money still runs via tax havens. A new report by Counter Balance* and Re:Common* ‘Towards a Responsible Taxation Policy for the EIB’ which is launched today calls on […]

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Tax havens: why urgent action is needed

By Klara Sikorova and Xavier Sol, originally appeared in EU Observer BRUSSELS – European multilateral banks need to go bigger and better on transparency of ultimate owners and country-by-country reporting to reach their development and transition goals. A report recently released by NGO Eurodad, Going Offshore, reveals that European development finance institutions provide billions of euros […]

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NGO letter urges the EIB to make Mopani/Glencore report public

Counter Balance in coordination with ten other NGOs has written a letter to the EIB’s president, Werner Hoyer,  to express our grave concern about the secrecy surrounding the Bank’s investigation of  tax evasion  and  avoidance  allegations  against  Mopani  Copper  Mines  plc,  a  Zambian  company, which is largely owned by GlencoreXstrata.  The investigation was announced by […]

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EIB commits to review tax haven policy at civil society meeting

During the annual meeting between civil society and the EIB’s Board of Directors, the European Investment Bank committed to review its outdated tax haven policy this year. The commitment which followed a letter from several NGOs expressing such demand, is the most concrete outcome of the meeting which took place on 3rd February in the […]

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