Activities of Eva JOLY related to 2013/0152(COD)
Shadow opinions (2)
OPINION on the proposal for a decision of the European Parliament and of the Council on granting an EU guarantee to the European Investment Bank against losses under financing operations supporting investment projects outside the Union
OPINION on the proposal for a decision of the European Parliament and of the Council on granting an EU guarantee to the European Investment Bank against losses under financing operations supporting investment projects outside the Union
Amendments (52)
Amendment 24 #
Proposal for a decision
Recital 11
Recital 11
(11) Improving access to financing for SMEs, including SMEs from the Union investing in the regions covered by this Decision, can play an essential role in stimulating economic development and in combating unemployment. In order to effectively reach out to SMEs, the EIB should cooperate with local financial intermediary institutions in the eligible countries, under the condition that such intermediaries are embedded in the local economy and contribute with local resources, in particular to ensure that part of the financial benefits is passed on to their clients and provide added value compared to other sources of finance. Through its cooperation agreements with those intermediary institutions, the EIB should make sure that their client's projects can be checked against criteria which reflect the Union's development goals and the Bank's standards. The financial intermediaries' activities in support of SMEs should be fully transparent and checked regularly by the EIB.
Amendment 28 #
Proposal for a decision
Recital 10
Recital 10
(10) In order to respect developing country ownership, all EIB investments should be aligned to country owned development strategies. Against this background, in order to enhance the coherence and the focus of the EIB external financing activity on supporting Union policies, and for the maximum benefit of beneficiaries, Decision No 1080/2011/EU set out general objectives for EIB financing operations across all eligible regions and countries, i.e. local private sector development, in particular in support of small and medium- sized enterprises (SMEs), social and economic infrastructure and climate change mitigation and adaptation, building on the comparative strengths of the EIB in areas where it has a well-proven track record. These objectives should be maintained in this Decision.
Amendment 28 #
Proposal for a decision
Recital 13
Recital 13
(13) The EIB should continue to finance investment projects in the areas of social, environmental and economic infrastructure, and should consider increasinge its activity in support of health and education infrastructure when there is clear added value in doing so.
Amendment 29 #
Proposal for a decision
Recital 11
Recital 11
(11) Improving access to financing for SMEs, including SMEs from the Union investing in the regions covered by this Decision, can play an essential role in stimulating economic development and in combating unemployment. ITo ensure that investments in the private sector have the greatest development impact, they should be targeted towards domestic entreprises owned and domiciled with developing countries. To this end, in order to effectively reach out to SMEs, the EIB should cooperate with local financial intermediary institutions in the eligible countries, in particular to ensure that part of the financial benefits is passed on to their clients and provide added value compared to other sources of finance. The reliance on financial intermediaries must be complemented by increased transparency to ensure that they are engaging in programmes with clear development impacts. In particular, the EIB should work with financial intermediaries that have substantial local ownership, and ensure that the projects financed through intermediaries support sustainable development and that the operations are done in a transparent manner. The EIB should also ensure that financing to the private sector goes where it is most needed, taking into account the priorities of the partner countries.
Amendment 29 #
Proposal for a decision
Recital 14
Recital 14
(14) The EIB should also continue to finance investment projects in support of climate change mitigation and adaptation, to further the promotion of the Union's climate goals on a global scale, taking due care that investments have a net positive impact on climate and putting in place effective provisions to this end. Priority should be given to small-scale, off-grid decentralised renewable energy projects.
Amendment 30 #
Proposal for a decision
Recital 11 a (new)
Recital 11 a (new)
(11 a) When operating under the Community guarantee, the EIB should only cooperate with financial intermediaries not operating in offshore financial centres, which have substantial local ownership and are equipped to implement a pro-development approach supporting the specificity of SMEs in the countries of operation.
Amendment 31 #
Proposal for a decision
Recital 11 b (new)
Recital 11 b (new)
(11 b) The EIB shall not cooperate with financial intermediaries with negative track record in terms of transparency, fraud, corruption and environmental and social impacts. A stringent list of criteria for selection of financial intermediaries shall be established by the EIB jointly with the European Commission and be publicly available.
Amendment 33 #
Proposal for a decision
Recital 14
Recital 14
(14) The EIB should also continue to finance investment projects in support of climate change mitigation and adaptation, to further the promotion of the Union's climate goals on a global scale. To this end, priority should be given to small- scale, off-grid decentralised renewable energy projects, to ensure energy access to rural areas, while avoiding potential negative social and environmental impact of large-scale energy infrastructure.
Amendment 33 #
Proposal for a decision
Recital 15 a (new)
Recital 15 a (new)
(15 a) In supporting climate change mitigation projects in eligible third countries, the EIB should take into account the conclusions of the G-20 meeting in Pittsburgh and present by 2014 a road map and timeline to phase out by 2016 environmentally or economically harmful subsidies, including for fossil fuels, and prevent from financing projects which could have a negative impact to foster this goal.
Amendment 34 #
Proposal for a decision
Recital 16
Recital 16
(16) The practical measures for linking the general objectives of the EU guarantee and their implementation are to be set out in regional technical operational guidelines. Such guidelines should be consistent with the external action goals of the Union according to Article 21 TEU and the wider Union regional policy framework. The regional technical operational guidelines should be reviewed following consultation with relevant stakeholder and authorities at national and local level from beneficiary countries and further updated following the review of this Decision in order to adapt to the developments in the Union external policies and priorities.
Amendment 35 #
Proposal for a decision
Recital 21
Recital 21
(21) Union external relations should be supported by new instruments from 2014, including an umbrella Regulation establishing common rules and procedures for the implementation of the Union's instruments for external action. With a view to enhancing the coherence of overall Union support in the regions concerned, and provided that blending activities have a clear sustainable development impact, that can be effectively monitored, opportunities should be seized to combine EIB financing with Union budgetary resources when and as appropriate, in the form of financial instruments provided for in Title VIII of Regulation (EU, Euratom) No 966/2012 of the European Parliament and of the Council of 25 October 2012 on the financial rules applicable to the general budget of the Union and repealing Council Regulation (EC, Euratom) No 1605/2002 and technical assistance for project preparation and implementation, through the Instrument for Pre-Accession Assistance II (IPA II), the European Neighbourhood Instrument (ENI), the Development Cooperation Instrument (DCI), the Partnership Instrument for cooperation with third countries, the Instrument for the promotion of Democracy and Human Rights worldwide, the Instrument for Stability, and the Instrument for Nuclear Safety Cooperation. Following Decision No 1080/2011/EU, the Commission established an EU Platform for Blending in External Cooperation with a view to optimising the functioning of mechanisms for the blending of grants and loans outside the Union.
Amendment 35 #
Proposal for a decision
Recital 17
Recital 17
(17) In accordance with Article 19 of the Statute of the EIB, applications made directly to the EIB for EIB financing operations to be carried out under this Decision are to be submitted to the Commission for an opinion on the conformity with relevant EU legislation and policies. In the event that the Commission delivers a negative opinion on an EIB financing operation in the framework of the Article 19 procedure, the operation shall not be covered by the EU guarantee or by any financial instrument covered by the EIB's own capital.
Amendment 36 #
Proposal for a decision
Recital 22
Recital 22
(22) IThe mechanism of blending loans and grants must be evaluated particularly in terms of development and financial additionality, transparency and accountability, local ownership and debt risk. Provided that it has a clear sustainable development impact, the EIB should, in its financing operations outside the Union that fall within the scope of this Decision, the EIB should endeavour further to enhance coordination and cooperation with European Financial Institutions and International Financial Institutions, notably those participating in the EU Platform for Blending in External Cooperation. This cooperation includes, where appropriate, cooperation on sector conditionality and mutual reliance on procedures, use of joint co-financing and participation in global initiatives, such as those promoting aid coordination and effectiveness. Such coordination and cooperation should strive to minimise possible duplication of costs and unnecessary overlap. The tripartite Memorandum of Understanding between the Commission, the EIB Group and the European Bank for Reconstruction and Development (EBRD) in respect of cooperation outside the Union, which allows the EIB Group and the EBRD to act in a complementary way by relying on their respective comparative advantages, was updated in 2012 to cover the extension of EBRD's geographical scope to the Mediterranean region and should continue to be applied. The principles set out in this Decision should also be applied when EIB financing is implemented through cooperation agreements with other European Financial Institutions and International Financial Institutions, including regarding consistency with Union's development objectives, aid effectiveness principles, transparency and democratic scrutiny.
Amendment 37 #
Proposal for a decision
Recital 18
Recital 18
(18) While the EIB's strength remains its distinctiveness as an investment bank, EIB financing operations should contribute to the general principles guiding Union external action, as referred to in Article 21 of the Treaty on European Union (TEU), of promoting and consolidating democracy and the rule of law, human rights and fundamental freedoms, and to the implementation of international environmental agreements to which the Union is a party. In particular, in relation to developing countries, EIB financing operations should foster their sustainable economic, social and environmental development, particularly in the most disadvantaged amongst them, their smooth and gradual integration into the world economy, the campaign against poverty, as well as compliance with objectives approved by the Union in the context of the United Nations and other competent international organisations. While contributing to the implementation of the measures necessary to further the objectives of Union development cooperation policy in accordance with Article 209(3) of the Treaty, the EIB should strive to support indirectly the achievement of the UN's 2015 Millennium Development Goals in all regions where it is active.
Amendment 38 #
Proposal for a decision
Article 1 a (new)
Article 1 a (new)
Article 1 a EIB financing operations implemented through the Union guarantee granted to the EIB in developing countries, shall have as primary objective the reduction and, in the long term, the eradication of poverty. In particular, EIB financing operations shall be consistent with: - EU commitments and obligations under the UN Framework Convention on Climate Change (UNFCCC), the UN Convention on Biological Diversity (CBD) as well as the attainment of the UN Millennium Development Goals (MDGs); - social, labour and environmental standards as embodied in international agreements.
Amendment 38 #
Proposal for a decision
Recital 19
Recital 19
(19) The EIB activity under this Decision should support the Agenda for Change proposed by the Commission and be coherent with the relevant principles of the European Consensus on Development and the principles of aid effectiveness outlined in the Paris Declaration of 2005, the Accra Agenda for Action of 2008 and the Busan Partnership Agreement of 2011. Furthermore, it should be coherent with the EU Strategic Framework and Action Plan on Human Rights and Democracy adopted by the Council on 25 June 2012 and international environmental agreements including biodiversity commitments. It should be implemented through a number of concrete measures, in particular by reinforcing the EIB's capacity to appraise environmental, social and development aspects of investment projects, including human rights and conflict-related risks, and by promoting local consultation with public authorities and civil society. In this context, the EIB should implement and further develop its Results Measurement framework (REM) which provides a detailed set of performance indicators measuring the economic, environmental, social, and development impact of its financing operations throughout the lifecycle of the underlying investment. The implementation of the REM should be evaluated as part of the mid-term review of this Decision. When carrying out due diligence in respect of an investment project, the EIB should, where appropriate and in line with the Union's social and environmental principles, as well as in full respect of legislation and environmental and social standards of the beneficiary country, require the investment project promoter to carry out local consultations and disclose their results to the public. EIB financing agreements involving public counterparts should explicitly include the possibility to suspend disbursements in case of revocation of eligibility under this Decision of the country in which the investment project takes place.
Amendment 40 #
Proposal for a decision
Article 3 – paragraph 5
Article 3 – paragraph 5
5. EIB financing operations supporting the objectives provided for in paragraph 1(a) mayTo ensure that investments in the private sector have the greatest development impact, EIB financing operations supporting the objectives provided for in paragraph 1(a) shall target domestic companies owned and domiciled within developing countries whenever possible, but may also include support to investment projects by SMEs from the Union.
Amendment 40 #
Proposal for a decision
Recital 22
Recital 22
(22) In its financing operations outside the Union that fall within the scope of this Decision, the EIB should endeavour further to enhance coordination and cooperation with European Financial Institutions and International Financial Institutions, notably those participating in the EU Platform for Blending in External Cooperation. This cooperation includes, where appropriate, cooperation on sector conditionality and mutual reliance on procedures, use of joint co-financing and participation in global initiatives, such as those promoting aid coordination and effectiveness. Such coordination and cooperation should strive to minimise possible duplication of costs and unnecessary overlap. The tripartite Memorandum of Understanding between the Commission, the EIB Group and the European Bank for Reconstruction and Development (EBRD) in respect of cooperation outside the Union, which allows the EIB Group and the EBRD to act in a complementary way by relying on their respective comparative advantages, was updated in 2012 to cover the extension of EBRD's geographical scope to the Mediterranean region and should continue to be applied. The principles set out in this Decision should also be applied when EIB financing is implemented through cooperation agreements with other European Financial Institutions and International Financial Institutions. In the medium term the European Public Banking System should be rationalised and rendered more effective by inter alia dissolving the EBRD and integrating its value added operations and resources into the EIB and World Bank respectively.
Amendment 41 #
Proposal for a decision
Article 3 – paragraph 6
Article 3 – paragraph 6
6. EIB financing operations supporting the objectives provided for in paragraph 1(b) shall support investment projects in the areas of transport, energy, including decentralised off-grid renewable energy, energy systems transformation enabling a switch to lower carbon intensive technologies and fuels, energy security and energy infrastructure, including for gas production and transportation to EU energy market, environmental infrastructure, including water and sanitation and green infrastructure, information and communication technology, including telecommunications and broadband network infrastructure, health and education. Compliance with the provisions of the Aarhus Convention on Access to Information, Public Participation in Decision-Making and Access to Justice in Environmental Matters should be ensured by the EIB at the different relevant stages of projects.
Amendment 42 #
Proposal for a decision
Article 3 – paragraph 7
Article 3 – paragraph 7
7. EIB financing operations supporting the objectives provided for in paragraph 1(c) shall support investment projects in climate change mitigation and adaptation which contribute to the overall objective of the United Nations Framework Convention on Climate Change, in particular by avoiding or reducing greenhouse gas emissions in the areas of renewable energy, energy efficiency and sustainable transport, or by increasing resilience to the adverse impacts of climate change on vulnerable countries, sectors and communities. To this end, an analysis of the carbon footprint ought to be included in the environmental assessment procedure to determine whether project proposals maximize energy-efficiency improvements. Over the period covered by the Decision, the volume of these operations shall represent at least 25% of total EIB financing operations.
Amendment 43 #
Proposal for a decision
Article 12 a (new)
Article 12 a (new)
Article 12 a In its financial operations, the EIB must ensure that all companies and financial institutions involved in the transaction disclose information regarding beneficial ownership of any legal structure directly or indirectly related to the company, including trusts, foundations and bank accounts.
Amendment 43 #
Proposal for a decision
Recital 23
Recital 23
(23) The EIB should be encouraged to increase its operations and to diversify its operations outside the Union without recourse to the EU guarantee so that the use of the EU guarantee can be focused on countries and investment projects with poor access to the market, taking into account debt sustainability considerations, where the EU guarantee therefore provides greater added value. Consequently, and always with the aim of supporting the objectives of the Union external policies, the EIB should be encouraged to lend at its own risk, including in support of Union economic interestglobal public goods, in countries and in favour of investment projects having a sufficient creditworthiness according to the assessment of the EIB and taking into account its own risk absorption capacity.
Amendment 44 #
Proposal for a decision
Article 12 – paragraph 1 a (new)
Article 12 – paragraph 1 a (new)
In order to be eligible for EIB financing and investment, all companies and financial institutions involved in the transaction must disclose reliable annual information related to sales, employees, profits made and taxes paid in the country.
Amendment 45 #
Proposal for a decision
Article 16 – paragraph 1
Article 16 – paragraph 1
1. The EIB shall inform OLAF immediately when, at any stage of the preparation, implementation or closure of projects subject to the EU guarantee, it detects a potential case of fraud, corruption or other illegal activity that may affect the financial interests of the EU. In such cases, the disbursement of loans should be immediately suspended until OLAF investigation findings are available. Where corruption is proven, the EIB shall assist asset recovery efforts by disclosing to the relevant authorities any assets held by the EIB that relate to such corruption or that derive from it.
Amendment 47 #
Proposal for a decision
Article 3 – paragraph 4
Article 3 – paragraph 4
4. In developing countries, as defined in the Organisation for Economic Cooperation and Development (OECD) list of official development assistance (ODA) recipients, EIB financing operations shall contribute indirectly to the objectives of the Union policy in development cooperation as referred to in Article 208 TFEU.
Amendment 48 #
Proposal for a decision
Article 16 – paragraph 2 a (new)
Article 16 – paragraph 2 a (new)
2 a. The contracts signed in relation to projects subject to the EU guarantee shall include stringent clauses enabling the suspension of financing support from the EIB to project's promoters and financial intermediaries where fraud, corruption or other illegal activity are under formal investigation, and its cancellation in the event of such illegal activity being proven.
Amendment 49 #
Proposal for a decision
Article 3 – paragraph 6
Article 3 – paragraph 6
6. EIB financing operations supporting the objectives provided for in paragraph 1(b) shall support investment projects in the areas of transport, energy, including renewable energy, energy systems transformation enabling a switch to lower carbon intensive technologies and fuels, energy security and energy infrastructure, including for gas production and transportation to EU energy market, environmental infrastructure, including water and sanitation and green infrastructure, information and communication technology, including telecommunications and broadband network infrastructure, health and education.
Amendment 50 #
Proposal for a decision
Article 3 – paragraph 7
Article 3 – paragraph 7
7. EIB financing operations supporting the objectives provided for in paragraph 1(c) shall support investment projects in climate change mitigation and adaptation which contribute to the overall objective of the United Nations Framework Convention on Climate Change, in particular by avoiding or reducing greenhouse gas emissions in the areas of renewable energy, energy efficiency and sustainable transport, or by increasing resilience to the adverse impacts of climate change on vulnerable countries, sectors and communities. The eligibility criteria for climate action projects shall be further defined in the next revision of the Regional Operational Technical Guidelines, after thorough public consultations, and be reflected in the climate change strategy of the Bank during the midterm review of this decision. Over the period covered by the Decision, the volume of these operations shall represent at least 25% of total EIB financing operations.
Amendment 52 #
Proposal for a decision
Article 3 – paragraph 8
Article 3 – paragraph 8
8. In line with Union and international climate change objectives, before the end of 20164, the EIB, in cooperation with the Commission and following a public consultation, shall update its climate change strategy as regards EIB financing operations and present a road map containing concrete mesurable actions to phase out financing projects detrimental to the achievement of EU's climate objectives by 2016 and step up efforts to support renewable energy sources and energy efficiency.
Amendment 53 #
Proposal for a decision
Article 4 – paragraph 2
Article 4 – paragraph 2
2. The Commission shall be empowered to adopt delegated acts in accordance with Article 17 concerning amendments to Annex III. The Commission's decisions shall be based on an overall economic, social, environmental and political assessment, including aspects related to the democracy, human rights and fundamental freedoms as well as the relevant European Parliament resolutions and Council decisions and conclusions.
Amendment 54 #
Proposal for a decision
Article 4 – paragraph 5
Article 4 – paragraph 5
5. The EU guarantee shall cover only EIB financing operations carried out in eligible countries that have concluded a framework agreement with the EIB establishing the legal conditions under which such operations are to be carried out. Legal conditions under which operations are to be carried out shall also include environmental, social, human rights and labour standards.
Amendment 55 #
Proposal for a decision
Article 5 – paragraph 1 – subparagraph 1
Article 5 – paragraph 1 – subparagraph 1
The Commission shall update, together with the EIB, the existing regional technical operational guidelines for EIB financing operations within one year following the adoption of this Decision. Further updates shall be completed on a bi-annual basis.
Amendment 56 #
Proposal for a decision
Article 5 – paragraph 1 – subparagraph 3
Article 5 – paragraph 1 – subparagraph 3
In updating these guidelines, the Commission and the EIB shall take into account relevant European Parliament resolutions and Council decisions and conclusions. The EEAS shall also be consulted on policy issues, as appropriate. Consultations at regional level, including with local civil society, shall also be part of the process.
Amendment 57 #
Proposal for a decision
Article 5 – paragraph 2
Article 5 – paragraph 2
2. An EIB financing operation shall not be covered by the EU guarantee or any financial instrument covered by the EIB's own capital in the event that the Commission delivers a negative opinion on such an operation within the framework of the procedure provided for in Article 19 of the Statute of the EIB.
Amendment 58 #
Proposal for a decision
Article 7 – title
Article 7 – title
Cooperation with other European Financial Institutions and, International Financial Institutions and Financial Intermediaries.
Amendment 59 #
Proposal for a decision
Article 7 – paragraph 2 a (new)
Article 7 – paragraph 2 a (new)
2 a. To fully realise the portential of maximising synergies, cooperation and efficiency while enhancing accountability and transparency, the Commission shall present by 2015 a plan to progressively disolve the EBRD by 2018 and integrate its value added operations and resources into the EIB and World Bank respectively.
Amendment 60 #
Proposal for a decision
Article 7 – paragraph 2 b (new)
Article 7 – paragraph 2 b (new)
2 b. The EIB shall not cooperate with financial intermediaries with negative track record in terms of transparency, fraud, corruption and environmental and social impacts. A stringent list of criteria for selection of financial intermediaries shall be established by the EIB jointly with the European Commission and be publicly available.
Amendment 61 #
Proposal for a decision
Article 7 – paragraph 2 c (new)
Article 7 – paragraph 2 c (new)
Cooperation with financial intermediaries 2 c. When operating under the Community guarantee, the EIB should only cooperate with financial intermediaries that have substantial local ownership, that are equipped to implement a pro-development approach supporting the specificity of SMEs in the countries of operation, and that are neither operating or established in a jurisduction that - does provide for tax measures which entail no or nominal taxes or where advantages are granted even without any real economic activity and substantial economic presence within the jurisdiction offering such tax advantages; - does not fully comply with the standards laid down in Article 26 of the OECD Model Tax Convention on Income and on Capital and ensures an effective exchange of information in tax matters, including any multilateral tax agreements; - is listed as a Non-Cooperative Country and Territory by FATF;
Amendment 62 #
Proposal for a decision
Article 8 – paragraph 5
Article 8 – paragraph 5
5. The Commission and the EIB shall set out in the agreement referred to in Article 13 a method allowing the EIB to identify, within its external activity, the operations to be financed under this Decision and the operations to be financed at the own risk of the EIB. The method shall be based on the creditworthiness of EIB financing operations as assessed by the EIB, the regions and ceilings as defined in Annex I, the nature of the counterparty (whether a sovereign/State, a sub-sovereign as referred to in paragraph 1 or private), EIB risk absorption capacity and other relevant criteria, including added value of the EU Guarantee. The allocation policy shall be publicly available on the EIB website. For each operation to be financed by the EIB outside of the EU, the EIB website shall after the project approval stage indicate whether a EU guarantee will be used or not.
Amendment 63 #
Proposal for a decision
Article 9 – paragraph 1 – subparagraph 1
Article 9 – paragraph 1 – subparagraph 1
The EIB shall carry out thorough due diligence and, where appropriate and in line with Union social and environmental principles, require appropriate local public consultation, on development-related aspects of investment projects covered by the EU guarantee.
Amendment 64 #
Proposal for a decision
Article 9 – paragraph 1 – subparagraph 3
Article 9 – paragraph 1 – subparagraph 3
The EIB's own rules and procedures shall include the necessary provisions on assessment of environmental and social impact of investment projects and of aspects related to human rights and conflict prevention, in line with relevant Union legislations as well as legislation and environmental and social standards of the beneficiary countries, to ensure that only investment projects that are economically, financially, environmentally and socially sustainable are supported under this Decision.
Amendment 65 #
Proposal for a decision
Article 9 – paragraph 3
Article 9 – paragraph 3
3. The EIB monitoring shall also cover the implementation of intermediated operations and the performance and development impact of financial intermediaries in support of SMEs.
Amendment 66 #
Proposal for a decision
Article 10 – paragraph 1 – point d a (new)
Article 10 – paragraph 1 – point d a (new)
(d a) an assessment of the impact of EIB lending through financial intermediaries, demonstrating how intermediated lending contributes to the poverty eradication, and social and environmental objectives of EU external action. Information about final beneficiaries of EIB operations shall be disclosed.
Amendment 67 #
Proposal for a decision
Article 10 – paragraph 2 a (new)
Article 10 – paragraph 2 a (new)
2 a. The Commission, in cooperation with the European External Action Service (EEAS), shall establish a framework and methodology for annual reporting by the EIB on compliance with the general principles guiding Union external action as enshrined in Article 21 TEU in its operations covered by the Community Guarantee. The methodology shall be developed by the Commission during the 1st year following the entry into force of this Decision and shall build on reporting on human rights compliance by the EIB, as requested by the EU Strategic Framework and Action Plan for Human Rights. Based on the annual reporting from the EIB, the Commission shall produce each year a publically evaluation of the information provided by the EIB and recommend changes to the policies and procedures. Recommendations by the European Commission and the European Parliament on how to improve EIB reporting to this end shall be reflected during the updating of the Regional Technical Operational Guidelines.
Amendment 68 #
Proposal for a decision
Article 11 – paragraph 1 – introductory part
Article 11 – paragraph 1 – introductory part
1. In accordance with itsEU legislation own transparency policyaccess to documents and information, the EIB shall make publicly available on its website information relating to:
Amendment 70 #
Proposal for a decision
Article 11 – paragraph 1 – point b
Article 11 – paragraph 1 – point b
(b) unless confidentiality requirements apply, any memoranda of understanding between the EIB and other European Financial Institutions or International Financial Institutions having a bearing on EIB financing operations under this Decision.
Amendment 71 #
Proposal for a decision
Article 11 – paragraph 1 – point b a (new)
Article 11 – paragraph 1 – point b a (new)
(b a) framework agreements concluded between the EIB and a recipient country
Amendment 72 #
Proposal for a decision
Article 12 – paragraph 1
Article 12 – paragraph 1
In its financing operations, the EIB shall not tolerate any activities carried out for illegal purposes, including money laundering, financing of terrorism, tax fraud and tax evasion, corruption, and fraud affecting the financial interests of the EU. In particular the EIB shall not participate in any financing operation implemented in an eligible country through a foreign non-cooperative jurisdiction identified as such by the OECD, the Financial Action Task Force or other relevant international organisations. The EIB shall also not cooperate with companies pursuing aggressive tax planning as defined by Commission recommendation C(2012) 8806. In particular the EIB shall not participate in any financing operation implemented in an eligible country through a jurisdiction that - does provide for tax measures which entail no or nominal taxes or where advantages are granted even without any real economic activity and substantial economic presence within the jurisdiction offering such tax advantages; - does not fully comply with the standards laid down in Article 26 of the OECD Model Tax Convention on Income and on Capital and ensures an effective exchange of information in tax matters, including any multilateral tax agreements; - is listed as a Non-Cooperative Country and Territory by FATF;
Amendment 74 #
Proposal for a decision
Article 16 – paragraph 2
Article 16 – paragraph 2
2. OLAF may carry out investigations, including on-the-spot checks and inspections, in accordance with the provisions and procedures laid down in Regulation (EC) No 1073/1999, Regulation (Euratom, EC) No 2185/96 and Regulation (EC, Euratom) No 2988/95 in order to protect the financial interests of the European Union, with a view to establishing whether there has been fraud, corruption, money laundering or any other illegal activity affecting the financial Interests of the Union in connection with any financing operations. In such cases, the disbursement of loans shall be immediately suspended until OLAF investigation findings are available. Where corruption is proven, the EIB shall assist asset recovery efforts by disclosing to the relevant authorities any assets held by the EIB that relate to such corruption or that derive from it.
Amendment 75 #
Proposal for a decision
Article 16 – paragraph 2 a (new)
Article 16 – paragraph 2 a (new)
2 a. The EIB shall designate an anti- corruption officer who serves as contact point for all stakeholders, including concerned populations and organised civil society as well as internally.
Amendment 76 #
Proposal for a decision
Article 16 – paragraph 2 b (new)
Article 16 – paragraph 2 b (new)
2 b. The contracts signed in relation to projects subject to the EU guarantee shall include stringent clauses enabling the suspension of financing support from the EIB to project's promoters and financial intermediaries where fraud, corruption or other illegal activity are under formal investigation, and their cancellation in the event of such illegal activity being proven.
Amendment 77 #
Proposal for a decision
Article 17 – paragraph 4
Article 17 – paragraph 4
4. AOne month prior to its adoption, the Commission shall transmit a draft decision to the European Parliament and to the Council, and as soon as it adopts a delegated act, the Commission shall notify it simultaneously to the European Parliament and to the Council.