how are the EIB involved in funding airport expansion?

1
how are the EIB involved in funding airport
expansion?

• Hannah Ellis
• CEE bankwatch network/
• friends of the earth international
• amsterdam, the netherlands
• hannah_at_foei.org
• noise conference, brussels, november 2003

2
Presentation overview

• the eib an introduction
• eibs involvement in the aviation industry
• report inspiration
• report findings
• summary

3
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

4
EIB transport investment 1998-2002 sectoral
breakdown (in billions)
5
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
6
report findings

• 8 billion in the last 5 years for aviation
  projects
• contradict EIBs own climate and sustainable
  development policies
• often loans to big business
• violating its own statute and contradicting its
  goal

7
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

8
EIB financing of hub airports to promote
competitive advantage is not consistent with
the financing several hub airports
report findings
9
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