ABSTRACT
It is generally agreed that large-scale investment in infra-structure and industry has considerable impact on the environment and on employment. This has been borne out within the European Economic Community countries of west Europe over the last quarter of a century, with the growth of motorways, energy projects, especially nuclear power, water supply schemes and telecommunications. There has been rapid growth in petrochemicals, and a decline in iron and steel production while southern peasant economies have been disrupted. The major investor in infra-structure and large-scale industrial projects for the EEC has been the little-known and little-publicised European Investment Bank. In order to comprehend developments in employment and the environment within the Community and its Associated States, it is essential to understand how the European Investment Bank operates and the policies it has been pursuing.
