Today, we reveal what it takes for the European Commission to block an investment by the European Union’s own bank. In a word: China.
Each year, the European Investment Bank issues hundreds of requests to the commission in Brussels under a procedure known as Article 19 — designed to get the latter’s opinion on projects the Luxembourg-based lender is considering financing. Most get the green light for a more thorough appraisal by the bank. But we asked the commission through an access to information request if and when it has issued a negative opinion in recent years.
It turns out there was one case.