EP Vote on the Renewal of Community guarantee against losses for EIB operations outside the EU
The Counter Balance coalition, a coalition of environmental and development non-governmental organisations recognizes the major step forward taken by this vote on the increase of both accountability and transparency of the European Investment Bank’s operations. Now the EIB can no longer ignore a certain number of principles when granting loans to a project in the developing world on the basis of its renewed External Mandate Guarantee. Read more
EP Vote on the Renewal of Community guarantee against losses for EIB operations outside EU
The Counter Balance coalition, a coalition of environmental and development non governmental organisations, informs you of an important debate and vote to take place at the European Parliament (debate on March 24th, vote on March 25th) .
To 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? Read more
Bank-financed projects can involve significant social and environmental costs, such as displacement of local communities, threats to indigenous peoples, and the destruction or degradation of the environment not to mention failure to respect and enforce human rights. In response to NGO’s pressure, the international financial institutions eventually established a series of policies and procedures that sought to offset some of the environmental and social risks. Some faster than others, the World Bank in 1993, the European Investment Bank in … 2008!
This website has been prepared with the financial assistance of the European Union. The contents of the website are the sole responsibility of CEE Bankwatch Network and can under no circumstances be regarded as reflecting the position of the European Union.
This website has been prepared with the financial assistance of the European Union. The contents of the website are the sole responsibility of CEE Bankwatch Network and can under no circumstances be regarded as reflecting the position of the European Union.