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how are the EIB involved in funding airport expansion?. Hannah Ellis CEE bankwatch network/ friends of the earth international amsterdam, the netherlands hannah@foei.org noise conference, brussels, november 2003. Presentation overview. the eib: an introduction
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how are the EIB involved in funding airport expansion? Hannah Ellis CEE bankwatch network/ friends of the earth international amsterdam, the netherlands hannah@foei.org noise conference, brussels, november 2003
Presentation overview • the eib: an introduction • eib’s involvement in the aviation industry • report inspiration • report findings • summary
who are the european investment bank (EIB)? • founded in 1958 • ‘social & economic cohesion’ • € 150 billion subscribed capital • signed €39.6 billion pa of loans • mostly infrastructure projects
EIB transport investment 1998-2002: sectoral breakdown (in billions)
report: inspiration • IKEA stores and chad-cameroon pipeline • ‘Public Money for Public Good’ • extensively involved in aviation • friends of the earth international, CEE bankwatch network, milieudefensie, za zemiata and HACAN ClearSkies schiphol, the netherlands heathrow, united kingdom sofia, bulgaria
report findings • €8 billion in the last 5 years for aviation projects • contradict EIB’s own climate and sustainable development policies • often loans to big business – violating its own statute and contradicting its goal
report findings • no responsibility for assessment and impact on the environment • environmental impact assessments: - schiphol loan agreed before EIA verification - sofia airport, a thorough EIA has never been carried out
report findings EIB financing of hub airports to promote ‘competitive advantage’ is not consistent with the financing several hub airports
how are the EIB involved in funding airport expansion? Thank you for flying with us • the EIB are a huge financial contributor to the european aviation industry • their involvement is not well known • the EIB take virtually no social or environmental responsibility for this involvement