3) Development funds must serve people, not fossil profits or EU big companies. 🌍⚠️

Read the full analysis of @loraverheecke.bsky.social here ⬇️

counter-balance.org/news/export-...

2) Even after promising to stop funding fossil fuels, some EU countries still channel billions through their ECAs.

And now the EU wants these same agencies involved in its Global Gateway “development” strategy. ⚠️ This risks turning development money into corporate subsidies. 💰

🎟️ Our new documentary, premiering on 27 November in Brussels, exposes the voices and reality on the ground through interviews with those on the front lines of proposed new GH2 projects in South Africa.

Register now: corporateeurope.org/en/event/4

#GreenHydrogen
#GH2scramble
#H2scramble

The EIB’s mandate is to support economic, social and environmental development. 🌳🏡🚉📚

❌Funding military projects does none of that. A true “climate bank” should prioritise life, not war.

This approach contradicts the role of EIB as the Climate Bank. The military activity leaves a massive environmental footprint:

➡️ Raw material extraction
➡️ Weapons manufacturing
➡️ Ecosystem destruction during conflicts
➡️ Toxic waste and long-term emissions from decommissioning

✊ The increase of defence spending has not been followed by an increase in democracy and respect of international law.

The EIB is financing €1 billion of projects in Israel. Several EU companies involved in war crimes, such as Leonardo, BNP Paribas and Volvo are receiving money from the EIB. 👇

✍️ Counter Balance, together with @actallianceeu.bsky.social, @eurodadnews.bsky.social, @menafem.bsky.social and @ceebankwatch.bsky.social
wrote a joint Letter to the EIB on its global programs 🌍

Read it here 👉 counter-balance.org/news/joint-l...

✊CSOs also highlighted the necessity of the Bank to have more transparency and to improve meaningful civil society and impacted local communities participation.

💬 Jaimie Just from @concord-europe.bsky.social highlighted: The partner countries want a fair deal. The projects of the EIB Global can not serve as tools for extracting critical raw materials from the Global South for Europe’s own interest, without creating value to local communities.

🟢 But in reality:

🩸The focus on Critical Raw Material, in which they have a highly problematic environmental and human rights records.

🏢 They prioritise the role of EU companies above local development.

Andrew McDowell, Director General of EIB Global, presented the three main points of the EIB’s Global strategic roadmap:

🤝 Win-win partnerships with partners countries
💸 Better partnership with the private sector
📝Increase efficiency

6) 🧭 What remains of the EU Climate Bank?

📖 Read our full analysis here 👉 counter-balance.org/news/the-eib...

5) 🩸🌍 The EIB’s global arm, EIB Global, is also expanding into critical raw materials, often at the expense of local communities and ecosystems.

Meanwhile, transparency and public accountability are shrinking. 🔒

4) ♨️ To meet growing power demand, the EIB will fund so-called “low-carbon technologies”: CCS, hydrogen, and even nuclear reactors.

But CCS locks us into fossil dependence, and hydrogen projects risk harming local communities and draining renewable energy from the Global South. ❌

3) The EIB still overlooks the full potential of public investment to drive a cheaper, fairer, and faster energy transition, one that sets strong environmental and social standards. 🌳🏡🚉

👉 The Bank should empower, not sideline, the public sector.