News / 15 May 2012

European Investment bank should reform before expanding

As negotiations were held by European policymakers today about a possible capital increase of the European Investment Bank (EIB), a press release was issued by Counter Balance: a coalition of Both ENDS and European NGO's that monitor the EIB. As long as it's not clearly evident where the loaned money goes and no conditions are set for advancing the support of sustainable projects, the EIB is not ready for such an expansion according to the involved organisations.


By lack of transparency it's unclear whether the loans that the EIB is currently providing meet the development goals of the EU and contribute to a sustainable economy. That's why, according to Counter Balance, a discussion needs to be held about the quality of the loans of the EIB before its capital is increased. In cooperation with CEE Bankwatch Network Counter Balance composed a list of recommendations to support the EIB with reviewing their energy policy.


For the press release and more information go to:

Press Release

Recommendations to the EIB

Why the EIB is not ready for a capital increase


Photo on Flickr: by Nathalie Babineau-Griffiths 

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