Video guest: Josephine Mwangi

November 2017
M T W T F S S
30 31 1 2 3 4 5
6 7 8 9 10 11 12
13 14 15 16 17 18 19
20 21 22 23 24 25 26
27 28 29 30 1 2 3



SELECT_TAGS :
















Twitter

Follow the CTA Brussels Daily

 

twitter logo

 

facebook logo cta

Wednesday, 17 February 2010

Do we need another multilateral development bank controlled by Europe?

Reflections from Eurodad and Counter Balance to the Wise Persons Panel -With loans in 2008 outside the European Union (EU) of around EUR 6.1 billion, the European Investment Bank (EIB) is a leading financial powerhouse operating around the globe on behalf of the EU and its member states, the EIB’s shareholders. In recent years the EIB’s lending activities have come under increasing attack from parliamentarians and civil society, both in the EU and the Global South, due to the bank's lack of sufficiently clear and binding social, environmental and development standards and procedures, and its continued failure to bring sustainable development to the regions in which it operates.
In November 2008 the European Court of Justice made a historical decision recognising that the EIB must promote the objectives of the Community’s development cooperation policy in its operations in Asia, Latin America, pre-accession and neighbouring countries. The mandate for EIB lending to all non-EU countries, excluding ACP and accession countries, is currently being reviewed by a panel of ‘Wise Persons’ . The mid-term review process, set in the last Council decision as a result of the different views of member states concerning the role of the EIB, is seen as crucial for shaping the future of the bank – outcomes are expected in June 2010. The outcomes of this review will have a direct impact on shaping the future EU financial architecture. 

Source: European Network on Debt and Development