http://www.bicusa.org/en/Institution.18.aspx The latest news on the European Investment Bank in Africa from the Bank Information Center 10 http://www.infodev.org/images/infodev.gif http://www.bicusa.org/en/Institution.18.aspx World Bank involvement in the proposed Inga and Kafue dams has brought criticism over the continued reliance on hydro in a warming world, and intentions to power foreign mining companies. http://www.bicusa.org/en/Article.3822.aspx Mon, 23 Jun 2008 00:00:00 GMT http://www.bicusa.org/en/Article.3822.aspx DRC mining contract commission to push for a greater share in the Tenke Fungurume mining concession, one of the largest copper-cobalt deposits in the world. Critics charge that EIB's investment in the highly contested project before the conclusion of the contract review was "irresponsible." http://www.bicusa.org/en/Article.3719.aspx Thu, 03 Apr 2008 00:00:00 GMT http://www.bicusa.org/en/Article.3719.aspx While the World Bank has expressed its support for the move, calling the new fiscal regime "more equitable," critics counter that the Bank was responsible for insisting on rock-bottom tax rates in 1998 that have deprived the government of much-needed revenue as copper prices soared. http://www.bicusa.org/en/Article.3672.aspx Thu, 07 Feb 2008 13:22:07 GMT http://www.bicusa.org/en/Article.3672.aspx Construction of the dam proceeds despite an ongoing investigation into claims presented by civil society groups that the project violates environmental and social standards of both the World Bank and the African Development Bank (AfDB). http://www.bicusa.org/en/Article.3651.aspx Thu, 17 Jan 2008 00:00:00 GMT http://www.bicusa.org/en/Article.3651.aspx On September 13th, after over 20 years of negotiations, the United Nations General Assembly finally adopted the Declaration on the Rights of Indigenous Peoples. The international declaration sets a higher standard for international financial institutions (IFIs) to ensure safeguards and strengthen their policies on indigenous peoples. http://www.bicusa.org/en/Article.3495.aspx Thu, 20 Sep 2007 16:34:28 GMT http://www.bicusa.org/en/Article.3495.aspx The European Investment Bank this week approved €100 million ($130 million) for the controversial Tenke Fungurume mining project, despite calls from civil society for public lenders to await the outcome of an ongoing examination of 60 mining contracts. http://www.bicusa.org/en/Article.3445.aspx Fri, 20 Jul 2007 11:21:00 GMT http://www.bicusa.org/en/Article.3445.aspx Sale of gas from EIB-financed LNG plant in Egypt at discount prices raises questions about who benefited from the deal. http://www.bicusa.org/en/Article.3443.aspx Thu, 19 Jul 2007 12:18:28 GMT http://www.bicusa.org/en/Article.3443.aspx World Bank-backed project to receive Inspection Panel visit. http://www.bicusa.org/en/Article.3437.aspx Fri, 13 Jul 2007 00:00:00 GMT http://www.bicusa.org/en/Article.3437.aspx Critics argue that OPIC's expected investment in the Tenke Fungurume mine appears to prejudge the outcomes of the ongoing government review process. http://www.bicusa.org/en/Article.3436.aspx Wed, 11 Jul 2007 12:05:49 GMT http://www.bicusa.org/en/Article.3436.aspx Ugandan groups highlight risks of project to hydrology of Lake Victoria, sustainability of the energy production, lack of comprehensive needs and options assessment, anticipated impacts on local communities http://www.bicusa.org/en/Article.3246.aspx Thu, 12 Apr 2007 11:29:46 GMT http://www.bicusa.org/en/Article.3246.aspx A coalition of NGOs launched an appeal to the Congolese government, the World Bank and other international partners to "renegotiate, revoke or cancel" disadvantageous mining contracts made during the war and under the transitional government, in order to ensure that the Congolese people derive a "fair share" from the exploitation of the country's natural resources. http://www.bicusa.org/en/Article.3209.aspx Tue, 13 Mar 2007 15:14:25 GMT http://www.bicusa.org/en/Article.3209.aspx The EIB is launching a public consultation as part of a review of its anti-fraud policy from February 12-April 18, 2007. If required, this process will be extended to include another 20 working-day consultation, taking into account stakeholder comments from the first round. Comments accepted until April 18, 2007. http://www.bicusa.org/en/Article.3208.aspx Tue, 13 Mar 2007 12:38:20 GMT http://www.bicusa.org/en/Article.3208.aspx The use of public money by the European Investment Bank and the African Development Bank to extract uranium poses a serious cause for concern, not only because of threat of contamination of local water sources, but because of the precedent it would set. http://www.bicusa.org/en/Article.3199.aspx Wed, 07 Mar 2007 15:58:04 GMT http://www.bicusa.org/en/Article.3199.aspx At a recent press conference in Brussels, the head of the European Investment Bank (EIB) reiterated his apprehensions about increased competition from Chinese banks in Africa. As reported in the Financial Times, President Philippe Maystadt expressed his concerns that Chinese banks “apply lower ethical and environmental standards” to their investments in Africa, and that they are effectively undermining good governance and undercutting competitors. http://www.bicusa.org/en/Article.3180.aspx Mon, 26 Feb 2007 10:46:26 GMT http://www.bicusa.org/en/Article.3180.aspx A report released last week documents the failure of the proposed Bujagali Dam in Uganda to fully comply with the international best practices set by the World Commission on Dams (WCD) http://www.bicusa.org/en/Article.3157.aspx Thu, 15 Feb 2007 00:00:00 GMT http://www.bicusa.org/en/Article.3157.aspx The controversial Chad-Cameroon pipeline is again in the news after an off-shore oil spill occurred near the town of Kribi in coastal Cameroon. Meanwhile in southern Chad, where ExxonMobil and its consortium partners extract nearly 200,000 barrels of “black gold” per day, the security situation and living conditions are deteriorating. http://www.bicusa.org/en/Article.3148.aspx Tue, 13 Feb 2007 10:20:16 GMT http://www.bicusa.org/en/Article.3148.aspx Both the International Finance Corporation (IFC) and European Investment Bank (EIB) disclosed project documents for the controversial Bujagali hydroelectric dam this week; IFC board date set for April 2007 http://www.bicusa.org/en/Article.3070.aspx Fri, 22 Dec 2006 00:00:00 GMT http://www.bicusa.org/en/Article.3070.aspx The EIB's emphasis on large, fossil fuel-based infrastructure projects a major cause for concern. http://www.bicusa.org/en/Article.3067.aspx Thu, 21 Dec 2006 00:00:00 GMT http://www.bicusa.org/en/Article.3067.aspx The European Investment Bank (EIB) last week approved a €70 million investment (approximately $87 million) in the Chevron-led West Africa Gas Pipeline Company (WAPCo) to support the construction of the 681 km-long pipeline that will transport natural gas from the Niger Delta to Ghana’s industrial centers in Tema and Takoradi. http://www.bicusa.org/en/Article.2950.aspx Wed, 20 Dec 2006 00:00:00 GMT http://www.bicusa.org/en/Article.2950.aspx Competition from Chinese lenders prompts EIB to consider removing "excessive" conditions placed on loans http://www.bicusa.org/en/Article.3037.aspx Thu, 07 Dec 2006 00:00:00 GMT http://www.bicusa.org/en/Article.3037.aspx European Investment Bank to provide funds for controversial Uganda dam http://www.bicusa.org/en/Article.3022.aspx Tue, 21 Nov 2006 13:05:45 GMT http://www.bicusa.org/en/Article.3022.aspx