EIB Luxembourg 254613676

The European Investment Bank

The European Investment Bank (EIB) is the financial arm of the European Union. Its shareholders are the 27 EU Member States.

Although little known to the general public, the EIB is the biggest public bank in the world, even bigger than the World Bank! Just in 2019, the EIB approved more than EUR 70 billion in loans, and this number keeps on increasing. Around 90% of its loans take place within the EU, while the remaining 10% are directed to countries outside of the European Union.

Following a successful NGO campaign, the EIB recently took the decision to phase out from fossil fuels and to align its operations with the objective of the Paris Agreement.

Still, the EIB has a long way to go to prioritise the public good over corporate interests and truly become a sustainable, transparent and accountable institution.

Over the years we have identified a number of structural issues – from insufficient attention to human rights and environmental impacts to a lack of public ownership, transparency and control over funds – that still need to be addressed.

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EBDRD London

The European Bank for Reconstruction and Development

The European Bank for Reconstruction and Development (EBRD) was founded in 1991 to finance the transition towards “open and democratic market economies” in the post-Soviet countries from central Europe to Central Asia.

Despite its mandate to operate in countries that are “committed to democratic principles”, its focus has been mainly on developing the private sector, enabling privatisation, competition and economic growth. Its track record has been criticized by civil society for leaving social and human rights considerations at the margins.

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Frankfurt Germany 332461141

European public investments

As a watchdog organisation we do not only follow the activities of specific institutions, we also keep a close eye on European public investments in general.

For example, we have monitored the “Juncker Plan” for years, as well as major investment plans taking place at a European level, such as the financing of the European Green Deal. In the next few years, the EU economic response to the COVID-19 crisis will be on our radar.

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