EIB: ACTIVISTS LAUNCH REFORM CAMPAIGN.

Jim Barnes from Friends of the Earth claims that the EIB is even worse than the World Bank - another multilateral lending institution that has suffered from the wrath of angry environmentalists and development campaigners. But since the World Bank has improved greatly over the years, activists are now turning their attentions to the EIB. The EIB is even reported to have funded projects turned down by the World Bank for environmental reasons. "We have to make sure that the EIB has clear environmental and social standards, as well as appropriate safeguard policies in place to deal with the realities in countries outside the EU", said Klaus Schilder from the German campaign.The campaign co-ordinator Magda Stoczkiewicz notes that the EIB's legal status as an EU institution in unclear. "Sometimes the EIB says that it cannot change its strategy because as an EU institution it has to follow EU guidelines. But when it comes to checks by the EU Ombudsman and the EU Court of Auditors, it claims...