The European Investment Bank has issued loans totaling more than $847 million to Israel since it began a war of extermination against Gaza in October 2023.
By approving such large-scale financial support, the EIB stands accused of violating the Genocide Convention. A cornerstone of international law, the convention places an onus on governments and public authorities to prevent and punish crimes against humanity.
As an official European Union institution and a major international lender, the EIB should not be allowed to dodge its obligations. So far, however, the Luxembourg-based bank has faced little scrutiny over how it is giving economic support to Israel.
I contacted the EIB asking if it was aware that the International Court of Justice had last year declared as plausible the case brought by South Africa which documents how Israel is committing genocide in Gaza.
Instead of answering that question, an EIB spokesperson pointed out that its loans were destined for projects that involved “business investment by underserved minorities,” water desalination plants, a light rail system in Tel Aviv and the development of a flu vaccine.
“The borrowers and financial counterparts for these projects are private companies and banks, and this financing is fully in line with EU and international law,” the spokesperson added. ….more
