Counter Balance - Counter Balance

[Press releases] Ugandan dam slammed by World Bank appeals body, EIB must withhold funding until major problems are addressed, say NGOs

16 December 2008

Following a highly critical assessment from a World Bank body on the impacts of the USD 799 million Bujagali dam in Uganda, the campaign coalition Counter Balance has called on the European Investment Bank (EIB), a joint funder of the controversial project with the World Bank, to withhold any further disbursement of its USD 130 million loan for the project until an independent investigation of the impacts of the dam are undertaken.

[Press releases] African testimonies at Belgian Senate reveal the dark side of European Investment Bank's financial might

2 December 2008

The 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.

[Press releases] ECJ ruling puts EU house bank on the spot: deliver on development role or stop lending outside Europe

12 November 2008

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

21 October 2008

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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[Press releases] Euro Parliament debate sets out the challenges for the European Investment Bank as it turns 50

8 July 2008

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?
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[Press releases] Life begins at 50 for European Investment Bank, hopes civil society

3 June 2008

Environment and social campaign groups from across Europe today marked the 50th anniversary celebrations of the European Investment Bank (EIB) by pointing out to the European Union's house bank that “Life begins at 50—We hope.

[Video] Happy birthday, Mr. President!

1 June 2008

Marilyn Monroe serenades EIB President Phillipe Maystadt in this video clip featuring the Counter Balance street action in Luxembourg to mark the occasion of the EIB's 50th birthday.
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[Citizens' Guides] Citizens' guide to the European Investment Bank

24 April 2008

A Citizens Guide about European Investment Bank - the world’s biggest public lender and one of the largest development financiers operating in the Global South.

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