Counter Balance - Counter Balance

[Video] "I want money!" - action on EIB loans to companies registered in tax havens

16 June 2009

How is it that an institution with an explicit mandate to promote development in the global South is financing companies who purposefully weasel out of paying revenues to the world's poorest governments, while extracting their natural resources and disrupting the livelihoods of local communities?
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[Citizens' Letter] EIB & Tax Haven campaign letter to EIB Governor

9 June 2009

NGOs from across Europe rallied today in front of the Council of the EU in Brussels with a strong demand to the European Investment Bank (EIB), the EU's 'bank' – STOP PROVIDING LOANS TO TAX HAVEN-BASED MULTINATIONALS. Concerned citizen present at the scene were asked to send a letter to the EIB Governors of their country. Here is the letter template.

[Press releases] Action Rally on EIB & Tax Haven: EIB Loans for Companies in Tax Havens Severely impact the have nots'

9 June 2009

Brussels, Belgium – NGOs from across Europe rallied today in front of the Council of the EU in Brussels with a strong demand to the European Investment Bank (EIB), the EU's 'bank' – STOP PROVIDING LOANS TO TAX HAVEN-BASED MULTINATIONALS.
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[Press releases] The Smoke and Mirrors of the EIB - on Gibe 3 Dam (Ethiopia)

5 June 2009

Clarification on the European Investment Bank’s role in Ethiopia’s Gibe 3 Dam

A statement issued June 4 by the European Investment Bank contradicts a June 3 announcement made to Friends of Lake Turkana that the Bank had withdrawn its consideration of the Gibe 3 Dam in Ethiopia. The June 4 statement is consistent with the Bank’s efforts to conduct its operations on Gibe 3 and other controversial projects behind smoke and mirrors.

[Press releases] NGOs successfully stop EIB from financing Gilgel Gibe 3 dam in Ethiopia

4 June 2009

In response to civil society’s pressure, the EIB announced yesterday its decision to not finance the Gilgel Gibe 3 dam in Ethiopia.

The 240 meters high dam project threatens the food security of up to half a million people, mostly tribal marginalised communities both in Kenya and Ethiopia. Moreover, it would destroy the Omo Valley environment, internationally known and recognised for its great biodiversity.
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[Publications] The Long Struggle for Accountability of IFIs – the case of the EIB and the World Bank

27 May 2009

The EIB just launched a public consultation on its Complaints Mechanism Policy, Public Disclosure Policy and Transparency Policy. A time to look back at how Civil Society's pressure has enforced changes at the EU House-Bank and the World Bank as well as to look forward to further improve both institutions.
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[Press releases] Secret havens, secret policy: The scandal of EIB loans to companies based in tax havens

20 May 2009

Key EU-funded development projects in the Global South are being carried out by companies registered in tax havens and financial off-shore centres, potentially costing developing countries tens of millions in tax revenues and leading to corruption, capital flight and lack of transparency and accountability, the NGO coalition Counter Balance [1] reveals today.

Our paid add campaign in a comic strip format is published today in the UK edition of the Guardian, La Repubblica, Handelsblatt, the French Les Echos has refused to publish it and only informed us today, on the very day of the publication. The add is too shocking for the daily.

[Reports] Coherent for development?

24 April 2009

Development check of the financing activities of the European Investment Bank is essential reading for those who wish to follow the debate on transparency, monitoring and coherence between EIB operations and EU policies outside the EU27.

[Video] Lilian Ikal Angelei speaks about the Gilgel Gibe III dam, Ethiopia

15 April 2009

Lilian Ikal Angelei of grassroots organization Friends of the Lake Turkana in Kenya speaks about EIB involvement in the Gilgel Gibe III dam in Ethiopia during April's World in Crisis conference in Prague.
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[Policy letters] EIB policy on fighting tax avoidance and the off-shore financial industry

3 April 2009

EIB President Maystadt to receive an activist kit “fight capital flight” that tackles tax havens and off-shore financial industry. This kit has been produced by the European Debt and Development (EuroDAD) Network and has been sent to all key decision-makers in European capitals and European institutions.
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[Press releases] NGOs east, south and west call for deep reforms of global economy

2 April 2009

Prague, Czech Republic -- Civil society groups from around the world gathered at The World in Crisis conference today launched a declaration that calls on international governments and institutions to take urgent steps to address the bankrupt economic paradigm that has resulted in the current economic crisis.

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[Press releases] MEP’s vote for increased transparency and accountability of the European Investment Bank in its loans to developing countries

26 March 2009

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.
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[Video] One BIG PIG goes to market: a cautionary tale

12 March 2009

A comic look at the basics of the European Investment Bank, the world's biggest public financial institution. More information about what the EIB does in practice is available here .
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