2017-06-02

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?

Adriana Homolova

Adriana Homolova is a data journalist based for KRO-NCRV in The Netherlands.

David Tarazona

David Tarazona is a Colombian investigative and data journalist. 

Laurence Soustras

Laurence Soustras is a French freelance journalist based in Paris. 

John-Allan Namu

John-Allan Namu is an investigative journalist and the CEO of Africa Uncensored, an investigative and in-depth journalism production house in Nairobi, Kenya. 

Aboubakar Mounchili

Aboubakar Mounchili is a Yaounde (Cameroon) based video journalist and TV programs presenter.

Riana Raymonde Randrianarisoa

Riana Raymonde Randrianarisoa is a Madagascar based freelance videojournalist with 18 years experience who focuses her work on investigative journalism since 2009.

Supported
Grant of €12.095 granted in September 2016
ID
JF/JA2B/2016/343

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