Tag Archives: transparency

European Investment Bank: the EU’s hidden giant

Originally published on the Financial Times. By Rochelle Toplensky and Alex Barker 15 July 2019 06:00 Clearer purpose sought for one the world’s biggest and most peculiar banks Safely hidden in the woods of Luxembourg sits one of the world’s biggest and most peculiar banks.  It issues more bonds than JPMorgan but is not supervised by […]

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Our Activity Report 2018

Our 2018 activities, successes and future challenges in a short booklet.

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VIDEO: The song of the EIB

On the occasion of the EU elections 2019, Counter Balance and its partners call the citizens’ attention on the bank of the EU – the European Investment Bank (EIB). What does it do? What are the challenges it has gone through so far? What the aspects that need improvement? And what can the citizens do […]

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Parliament demands EIB to up its game on climate and human rights

Brussels, Strasbourg, 17/1/2019 Today, the European Parliament approved two reports (see here and here) on the activities of the financial arm of the EU – the European Investment Bank (EIB). The two reports differ on some aspects – the one led by a far-right political group being less critical than the Budgetary Control committee’s – […]

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Trading away the EU principles in the name of national export interests?

Originally published on Euractiv. By Antonio Tricarico, 20 Nov 2018 MEPs need to follow the lead of the European Ombudsman and force the European Commission to shine the light on the opaque role of national Export Credit Agencies, writes Antonio Tricarico. Antonio Tricarico is programme director of Re:Common, Italy, the NGO coalition monitoring public finance institutions Perhaps […]

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How the ‘EU’s Bank’ fails to raise the bar on accountability

Originally published on EU Observer. By Xavier Sol As the financial arm of the European Union, the European Investment Bank (EIB) likes to call itself the “EU Bank” and to publicly praise its environmental and social standards in comparison to other investment banks. Nevertheless, over the last years, a dangerous setback on accountability and transparency […]

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EIB to weaken accountability mechanism, despite civil society criticism

Brussels, 13 November 2018 In a step backwards for the EU bank’s transparency and accountability, the Board of Directors of the European Investment Bank (EIB) has approved a controversial new policy for its Complaints Mechanism, a move that will take the bank further away from the communities affected by its operations – say NGOs. The decision […]

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Can the EU bank afford a race to the bottom on accountability?

Originally published on Public Finance International. By Xavier Sol, 7 Nov 18 The European Investment Bank should take the opportunity to finally fix serious transparency and governance flaws as it looks to revamp its complaints mechanism, says Counter Balance’s Xavier Sol. Would a school teacher ask her pupils for their approval before grading their tests […]

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Report exposes how PPPs across the world drain the public purse, and fail to deliver in the public interest

From the complete failure of the Castor Project in Spain, to an overpriced hospital in Sweden, projects financed by the European Investment Bank (EIB) make no exception to the list of PPP disasters compiled in this new joint report. Brussels/Bali, 8 October 2018 History RePPPeated: How public private partnerships are failing, launched on the occasion […]

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