By Rodrigo Campos NEW YORK - The head of the European Investment Bank has warned his soon-to-be-announced successor that bowing to pressure from some EU capitals to fund weapons forCommunity kindness deep rooted for Yarmouth couple | SaltWireNEW YORK - The head of the European Investment Bank has warned his soon-to-be-announced successor that bowing to pressure from some EU capitals to fund weapons for Ukraine would put the bank on the"wrong track".
The EU has bankrolled weapons to Ukraine to the tune of billions of dollars. But Hoyer said the EIB's involvement would be a fundamental change that could harm its image and credibility. Back in 2014, after the annexation of Crimea by Russia, the EIB stopped funding projects in Russia and redirected the money toward Georgia, Moldova and Ukraine.
The EIB is also part of a fresh European push to curb deforestation in the Amazon. In May, it opened its first office in Brazil. It is a top issuer of"green" and"sustainable" bonds. On Wednesday, Bolivian president Luis Arce said he was open to working with European companies as he taps the world's largest lithium reserves - but wants industrialization alongside the metal's extraction.
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