Financial activities of the European Investment Bank - annual report 2023

Tabled by Joachim Kuhs, Valentino Grant, Eric Minardi

Added: 37b. Is concerned about the EIB’s involvement in a project of the now bankrupt Kenyan construction company Spencon, which shows that EIB funds have been used to pay out bribes to local officials or to pay for illegal activities, including an EUR 80 000 cash payment to engineers for on-site inspections of a sewage treatment plant; regrets that the EIB rapidly closed the case in 2020 and only reopened it in 2022 following pressure from civil society organisations; regrets that the European Anti-Fraud Office did not pursue the case; highlights that the Spencon case underlines the need for the EIB to strengthen its anti-corruption framework, despite the fact that bribes are common practice in many countries where EIB Global operates;

Wording as published by the EP, in English. PE756.901