9 Amendments of Erik MARQUARDT related to 2020/2124(INI)
Amendment 2 #
Draft opinion
Recital A a (new)
Recital A a (new)
A a. whereas the High-Level Group of Wise Persons (HLGWP) on the European financial architecture for development released its final report on 7th October 2019 with 3 possible options to build the future European Climate and Sustainable Development Bank, as follow: a) building on the EBRD and the external financing activities of the EIB; b) pulling together the external activities of the current EU financial institutions in a new financial institution with mixed ownership; c) transferring all external activities of the EIB into an EIB subsidiary with significant other shareholders; whereas Council Conclusions of December 2019 indicated that only option a) and c) should be explored; whereas the results of feasibility studies on each options which were supposed to be delivered in Autumn 2020 are still expected;
Amendment 5 #
Draft opinion
Paragraph 1
Paragraph 1
1. Recognises the important role thatof the EIB, the world’s largest multilateral lender, can play; notes that despite dedicating only around 10% of its overall annual disbursements for activities outside the European Union, it can still improve its role in contributing to the Union’s development policy objectives, and in particular its potential to promote climate action, social and human rights, and to support the recovery from shocks such as COVID-19;
Amendment 8 #
Draft opinion
Paragraph 1 a (new)
Paragraph 1 a (new)
1 a. Stresses that as the main focus of the EIB is not development policies, strengthening its role in this field would require considerable reshuffling of business and managerial practices, and a shifted approach to risk-taking, where development outcomes take precedence over profitability; stresses that the HLGWP reports that creating a dedicated subsidiary of the EIB for development purpose would be the quickest and technically simplest option to pursue, but also the one with the highest risk of ineffectiveness and uncertainty as to the development impact;
Amendment 11 #
Draft opinion
Paragraph 2
Paragraph 2
2. Stresses the ‘policy first’ principle and the notion of ‘open architecture’ underpinning the European Fund for Sustainable Development Plus (EFSD+) - External Action Guarantee(EAG), which should enhance coherence and coordination among the EIB, EBRD, European Development Finance institutions (DFIs), national development agencies, the Commission and Member States in identifying investment operations that can contribute to sustainable development; is concerned about the use of EU development funds for de-risking private investment given the lack of evidence as to the capacity of this financial modality to demonstrate additionality and fulfil development objectives, as recently reported per the final review of EFSD as well as the opinion of the European Court of Auditors (No 7/2020); stresses the need for donors to prioritise grant-based financing as the default option, especially to LDCs, and not favour blending, guarantee or any loans over grants, that fall short of SDGs and could increase the burden of debt;
Amendment 17 #
Draft opinion
Paragraph 2 a (new)
Paragraph 2 a (new)
2 a. As all EIB shareholders are committed to the G20 commitment to suspend the debt of 77 countries following the debt crisis linked to the COVID-19 outbreak, calls on the EIB to apply a suspension to its pending loans, to carefully assess the debt impact of its future operations, and to express public support to the creation of a multilateral debt workout mechanism to address both the impact of the crisis and the financing requirements of the Agenda 2030;
Amendment 20 #
Draft opinion
Paragraph 2 b (new)
Paragraph 2 b (new)
2 b. reiterates its longstanding demands that the European Court of Auditors be empowered to audit all EIB operations, and that these audits be made public;
Amendment 22 #
Draft opinion
Paragraph 3
Paragraph 3
3. Calls on the EIB to maximisensure additionality and the development impact of its operations outside the Union by increasing its engagement in LDCs, enhancing the transparency of operations carried out by financial intermediaries notably thanks to the disclosure of the name of the final beneficiary, the amount received, the type of project and related environmental information, cooperating with EU delegations, and increasing its presence on the ground where necessaryith additional staff focusing on development issues;
Amendment 36 #
Draft opinion
Paragraph 4
Paragraph 4
4. Recalls the need for robust and publicly available ex ante impact assessments to mitigate the risks of EIB operations on human rights and on environmental, labour and social standards, and the need for regular and meaningful consultations with stakeholders, including civil society organisations; stresses that the EIB needs to deal with complaints in a transparent and effective manner ensuring that local communities have access to independent entities such as a reinforced EIB complaint mechanism with effective redress and the European Ombudsman; calls on the revision of the EIB's environmental and social standards in 2021 to address these major issues;
Amendment 42 #
Draft opinion
Paragraph 5
Paragraph 5
5. Calls on the EIB to engage in closer and transparent dialogue with the European Parliament, notably in the context of the EFSD+ and the ongoing discussions on the future European financial architecture for development., the future Development and climate Bank and as to the role of the EIB in this new framework;