The European investment bank complaints mechanism: its potential and limitations

Abstract

Abstract The European Investment Bank Complaint Mechanism (EIB CM) reviews complaints about acts or omissions of the European Investment Bank (EIB) for non-compliance with the EIB's obligation and proposes corrective solutions. This article analyzes the potential and limitations of the EIB CM as an accountability mechanism. It reviews the EIB CM's case law related to the environmental and social impacts of financed projects and makes comparisons with the operating documents of the accountability mechanisms of other development banks. The analysis indicates that, despite several shortcomings, the complaints review of the EIB CM has significant potential.