On June 21st, during its Board of Governors’ meeting, the EIB will adopt its Strategic Roadmap for 2024-2027, defining its future priorities and actions. Counter Balance, along with 16 other CSOs and labour unions, is deeply concerned about the exclusionary and undemocratic process behind this roadmap, as well as the different policies it outlines.

As Europe's main public bank, the EIB wants to increase its lending capacity and can significantly influence economic development, infrastructure projects, and climate action. Its priorities must address urgent challenges such as climate breakdown, cost of living crisis, and the erosion of public services.

We urge the EIB to halt support for major polluters and market-led approaches that neglect social needs, and instead to support cohesion, recovery funding, and social infrastructure through cooperation between public banks and local authorities. It must not expand lending for the defence industry and refocus on climate change mitigation, environmental sustainability, and social cohesion.

The EIB should prioritise local development and environmental objectives, contributing to sustainable and equitable societies globally. Transforming into a democratically-led and accountable public bank is crucial, involving the European Parliament, national parliaments, labour unions, civil society, and local governments in decision-making processes.

It is urgent for the EIB to be transformed into an institution that prioritises the public interest and steers our economies towards a fair, equitable, and sustainable path.

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Joint letter addressing the Board of Governors and Board of Directors

Read here