European Investment Bank (EIB) is the largest multilateral borrower and lender in the world. It finances mainly large infrastructure projects, but also provides loans to small and medium enterprises. The EIB is an EU bank, but its ambitions reach far beyond its borders.
So, in several African countries, EIB loans for development projects have caused discontent among locals. While development finance institutions often put guidelines in place to ensure borrowers respect environmental and social standards, these sometimes fail to deal with complex realities on the ground. The EIB is no exception in this regard.
For the first time, a small team of data and financial journalists has dug deep into the data and financial mechanisms of EIB investments in Sub-Saharan countries, analysing a mix of public data and internal data provided by the bank. Journalists from Kenya, Cameroon and Madagascar conducted interviews with dozens of witnesses who’ve been affected by EIB-funded projects. Our findings show that in several cases, large infrastructure projects such as power plants and mines have had an adverse effect on people living near them.
Still, the EIB is not subject to a lot of scrutiny from EU institutions. And this results in only a partial overview of the bank’s activities and a lack of transparency around the projects.
This is why we asked: What is the EIB and what is it doing in Africa?
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- The discreet banker of Africa development - EUObserver, 2 June 2017
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- A tale of reverse development - EiginAfrica.eu, 16 June 2017
- Die Bank, die keiner kennt - EibinAfrica.eu, 23 June 2017
- A tale of reverse development - the Ambatovy mine case - Counter Balance, 16 June 2017
- El Banco Europeo de Inversiones, ayudas públicas fuera de control (1) (ES) - Lamarea.com, 10 August 2017
- BEI: Pérdida de tierras ancestrales en Kenia (2) (ES) - Lamarea.com, 11 August 2017
- BEI: Zumbidos en vez de electricidad en Camerún (3) (ES)- Lamarea.com, 12 August 2017
- BEI: Repentina desaparición de abejas en una selva de Madagascar (y4) (ES) - Lamarea.com, 13 August 2017
- Lake Turkana Wind project - EibinAfrica.eu, 23 June 2017
- Olkaria geothermal power plant - EibinAfrica.eu, 23 June 2017
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