- 24.11.2023
- Array
Recourse joins CEE Bankwatch Network, Counterbalance and others in calling on the European Investment Bank to postpone the launch of its EIB Global strategy to give time to ensure a meaningful public consultation strategy.
EIB Global’s portfolio was over 10 billion euros in 2022, the year of its establishment. The letter notes, “In light of the European Investment Bank’s commitment to play a greater role as a development bank, we regret that no meaningful process was put in place to consult relevant stakeholders, especially those most vulnerable to the impacts of its development operations.”
“We understand the urgency to swiftly finalise the EIB Global strategy. However, this should not come at the expense of holding inclusive and meaningful consultations with stakeholders who are impacted by EIB Global’s operations.
Given the advanced stage of the preparation of the strategy, we call on the European Investment Bank to amend the preparation process and postpone the adoption of the strategy until a meaningful public consultation process has been carried out. We urge the EIB to schedule a formal consultation process to allow for valuable input from key stakeholders, including those working in the regions where EIB Global operates. As part of this process, EIB Global should invite stakeholders to formulate their comments on the draft strategy, to be delivered in consultation meetings and/or in written form within an adequate time frame.”
Read the letter here.
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