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Press releases
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2 December 2008African testimonies at Belgian Senate reveal the dark side of European Investment Bank's financial mightThe winners and losers from the European Investment Bank's loans in Africa were sharply distinguished today at the Belgian Senate by civil society representatives from Chad, Nigeria and the Democratic Republic of Congo (DRC), currently on an advocacy mission in Paris and Brussels. The three speakers described in detail the economic, environmental and social hardship that has been heaped on communities by extractive industry projects supported by the largest public – yet largely unaccountable – bank in the world.
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12 November 2008ECJ ruling puts EU house bank on the spot: deliver on development role or stop lending outside EuropeBrussels, Belgium - A decision from the European Court of Justice (ECJ) to annul the External Lending Mandate (ELM) of the European Investment Bank (EIB) has been warmly welcomed by Counter Balance, the Europe-wide campaign coalition advocating systemic reform of the EIB.
The ECJ decision of November 6, which applies to the EIB's lending activities in EU accession and neighborhood countries as well as Asia and Latin America, gives the EIB and the defendants in the ruling – the European Commission and the European Council – 12 months to redesign a new ELM in co-decision with the European Parliament, which brought the case. If the parties fail to reach an accord in that time the EIB will lose its Community guarantee, worth EUR 27.8 billion for the 2007-2013 period. |
29 October 2008EU development money extracting more wealth from Africa, finds new report on Congolese copper mine A EUR 100 million loan from the European Investment Bank (EIB) for the
Tenke Fungurume Mine mining project in the Democratic Republic of Congo
(DRC) has proceeded in spite of rampant corruption, human rights
violations and social tensions surrounding the copper-cobalt mine's
development, according to a new report from the campaign coalition
Counter Balance: Challenging the European Investment Bank in
collaboration with the Congolese NGO ACIDH. |
15 July 2008Counter Balance warns against unconditional role for EIB in Central Asia, launches new websiteThe day before a European Parliament committee vote on extending the
mandate of the European Investment Bank (EIB) to permit it to engage in
lending activities in Central Asia, the campaign coalition Counter
Balance: Challenging the European Investment Bank has pointed out the
human rights, environmental and social risks attached to tasking the
EU's house bank with such a new role. |
8 July 2008Euro Parliament debate sets out the challenges for the European Investment Bank as it turns 50To mark the fiftieth anniversary of the EIB, Counter Balance: Challenging the European Investment Bank , a new coalition of environmental and social groups, organised a debate in the European Parliament to discuss the global challenges the EIB is facing at 50. Hosted by the co-president of the European Greens, Monica Frassoni, the debate brought together MEPs, representatives from the European Commission representatives and the member states, academia, NGOs and the EIB itself.
Among those present at the debate was Guido Prud’Homme from the EIB’s Institutional Affairs department, who commented: “The EIB is like a big tanker – it takes some time before you can really change the course.” But on to what course exactly should the EU's house bank be setting its compass? |
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Press releases
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