Responding to the meeting of Nadia Calvino, EIB’s President, with Economic and Finance Minister on immediate action plan to support for Europe’s security and defence industry, Counter Balance Director Frank Vanaerschot said:

"In a high-stakes showdown, we have seen the European Investment Bank come under fire from Member States and the military industry, all clamouring for a greater share of public money to finance the military-industrial complex.

“The Bank enters uncharted territory by changing the definition of its dual-use requirement, now allowing projects to generate the majority of expected revenues from military use.

This is at odds with the EIB’s core mission of supporting climate change mitigation, environmental sustainability and social cohesion.

“Combined with measures to speed up, increase and provide easier and cheaper access to loans for more companies, the EIB is enlarging its exposure to the military industry, which increases the risk of conflict escalation and potential consequences for regional stability and global peace.

"The EIB is a development bank and must not divert its public resources for military purposes. It should use its support to strictly environmentally and socially beneficial projects that strive to address public needs and development objectives while respecting rights of local communities.


For more information, please contact: Frank Vanaerschot, Director, Counter Balance,, +32 (0) 487 67 16 27

Note to the editors:

Following the last EUCO, 30 NGOs - among which Counter Balance - have jointly written to the EIB to resist calls for an increased support of the defence sector. Here is the full text: