Brussels, March 26, 2002
”Our Mission is to further the objectives of the European Union by making long-term finance available for sound investment.” – Mission of the European Investment Bank”
“To receive our support, projects and programmes must be viable in four fundamental areas: economic, technical, environmental and financial. We appraise each investment project thoroughly and follow it through to completion” http://www.eib.org/about/mission.htm
The recent report, “Enron's Pawns: How Public Institutions Bankrolled Enron's Globalization Game” from the Institute for Policy Studies (IPS) has revealed that Enron, the disgraced American company which recently declared bankruptcy amidst allegations of criminal wrongdoing, received USD 7,2 billion in public assistance for its global operations. A portion of that public assistance came from the financial arm of the European Union – the European Investment Bank (EIB).
“The IPS report proves what we have been pointing out for the last couple of years,” says Magda Stoczkiewicz, coordinator of the EIB: NO REFORM – NO MONEY! campaign. “The EIB is neither efficient nor does it truly fulfil EU objectives. It operates behind closed doors, without proper supervision, clear sectoral strategies or strict environmental standards.”
”Our Mission is to further the objectives of the European Union by making long-term finance available for sound investment.” – Mission of the European Investment Bank”
“To receive our support, projects and programmes must be viable in four fundamental areas: economic, technical, environmental and financial. We appraise each investment project thoroughly and follow it through to completion” http://www.eib.org/about/mission.htm
The recent report, “Enron's Pawns: How Public Institutions Bankrolled Enron's Globalization Game” from the Institute for Policy Studies (IPS) has revealed that Enron, the disgraced American company which recently declared bankruptcy amidst allegations of criminal wrongdoing, received USD 7,2 billion in public assistance for its global operations. A portion of that public assistance came from the financial arm of the European Union – the European Investment Bank (EIB).
“The IPS report proves what we have been pointing out for the last couple of years,” says Magda Stoczkiewicz, coordinator of the EIB: NO REFORM – NO MONEY! campaign. “The EIB is neither efficient nor does it truly fulfil EU objectives. It operates behind closed doors, without proper supervision, clear sectoral strategies or strict environmental standards.”