Counter Balance is a coalition of 9 NGOs whose mission is to make European public finance a key driver of the transition towards socially and environmentally sustainable and equitable societies. Over the last decade, they have monitored extensively the operations of the European Investment Bank (EIB).
The EIB is the lending arm of the European Union. It is the biggest multilateral financial institution in the world and one of the largest providers of climate finance.
According to the EIB’s website, the Bank finances sustainable investment projects which focus, among other things, on climate and development. Civil society organizations argue though that its business model privileges the financial and economic viability of a project over the social and environmental development of the populations concerned by the projects.