Campaigners press EU leaders over EIB funding

Green groups attack bank's "lack of transparency and accountability", call for urgent reform

More than 30 European NGOs from 16 countries launched a campaign today asking for urgent "basic reforms" at the European investment bank (EIB). The EIB is seeking new funds in June 2002. EU decision makers should ensure that any capital increases are conditional on the bank becoming more transparent and accountable, the NGOs urged.

Coordinated by Friends of the Earth and CEE Bankwatch, which operates in central and eastern European (CEE) countries, the campaign calls for the EIB to develop "clear environmental and social standards", especially when dealing with countries outside the EU.

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