Just like Haven? European Investment Bank illicit financial flows through tax havens
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EIB is NOT an eauropean institution. It is an independent organisation founded by the European Union for the development of Europe. To make thinks like big infrastructual projects possible. they provide loans for small rent. Tax payers do not pay a single penny to this bank, because it is completely independent. The money they earn, is what they spent and they do not make any profit at all. All profit is invested. please before any critism do know where you talking about.
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The fact that the EIB raises its funds on the market is true for the largest part of their lending. However the EIB is backed publicly by the different member states. So in case things go wrong the public beares the risk. Since the banking/financial crisis we all know what this could lead to. Besides in ACP countries the EIB manages the part of the European Development Fund which consists of taxpayers money. Counter Balance exactly monitors the EIB's activities outside the EU.
counterbalanceeib 6 months ago