[ParlTrack]

Proposal for a decision
Recital 8 a (new)

(8a) The EIB should be granted an additional mandate of EUR 500 million for microcredit financing to improve access to bank finance for the poorest, with the aim of developing wealth- creating microprojects and reducing poverty. This activity should be developed by the EIB – either directly or via actions already being carried out by other international financial institutions or European bilateral financial institutions – through reliable local financial institutions and with appropriate monitoring of the use of the loans granted.

2010/10/05
Committee: ECON

Liem HOANG NGOC

Proposal for a decision
Recital 26

(26) The EIB should be encouraged to increase its operations outside the EU without recourse to the EU guarantee ~~in ord~~so that use of the guarantee can be reserved for countries and projects with the poorest access to the market and where tohe guarantee therefore provides higher added value. Consequently, and always with the aim of supporting EU external policy objectives, the EIB should increase the amounts loaned at its own risk, particularly in pre-accession countries and neighbourhood countries and in investment grade countries in other regions, but also in sub-investment grade countries when the EIB has the appropriate third party guarantees. In ~~consultation~~agreement with the Commission, the EIB should develop a policy for deciding between the allocation of projects to either the mandate under EU guarantee or to EIB own risk financing. Such a policy would notably take into account the creditworthiness of the countries and projects concerned. When the external mandate is renewed for the 2014-2020 period, this policy should be reviewed and the list of countries eligible under the guarantee should be re- examined.

2010/10/05
Committee: ECON

Liem HOANG NGOC

Proposal for a decision
Recital 27 a (new)

(27a) The EIB should be more rigorous and more transparent in choosing its financial partners. It should, in particular, guarantee that in the context of its financial operations covered by the EU guarantee the financial vehicles which it or its partners use cannot under any circumstances allow or contribute to any form of tax evasion. The EIB should also, insofar as possible, increase the diversification of its financial partners in the countries in which it operates.

2010/10/05
Committee: ECON

Liem HOANG NGOC

Proposal for a decision
Recital 30

(30) The reporting and transmission of information by the EIB to the Commission should be strengthened in order to allow the Commission to enhance its annual report to the European Parliament and the Council on the EIB financing operations carried out under this decision. The report should in particular assess the compliance of EIB financing operations with this decision, taking into account the operational guidelines, and include sections on added value in line with EU policies and sections on cooperation with the Commission, other IFIs and bilateral donors, including co-financing. The report should also assess the extent to which the EIB has taken into account economic, financial, environmental and social sustainability in the design and monitoring of the projects financed. It should also contain a specific section devoted to a detailed evaluation of the measures taken by the EIB to comply with the provisions of this decision, excluding from the scope of the guarantee all operations which would allow, or contribute directly or indirectly to, any form of tax evasion, and paying particular attention to EIB operations using certain financial vehicles. Where necessary, the report should include references to significant changes in circumstances that would justify further amendments to the mandate before the end of the period.

2010/10/05
Committee: ECON

Liem HOANG NGOC

Proposal for a decision
Article 1 – paragraph 2

2. Eligible for EU guarantee shall be EIB loans and loan guarantees for investment projects carried out in countries covered by this decision, granted in accordance with the EIB’s own rules and procedures in support of the relevant external policy objectives of the EU, where the EIB financing has been granted according to a signed agreement which has neither expired nor been cancelled, and on condition that they do not directly or indirectly use any financial vehicle as defined in Annex IIa which would allow, or contribute to, any form of tax evasion (EIB financing operations).

2010/10/05
Committee: ECON

Liem HOANG NGOC

Proposal for a decision
Article 10 – paragraph 1

1. The Commission shall report annually to the European Parliament and the Council on EIB financing operations carried out under this Decision. The report shall include an assessment of EIB financing operations at project, sector, country and regional level as well as the contribution of the EIB financing operations to the fulfilment of the external policy and strategic objectives of the EU. The report shall in particular assess the compliance of EIB financing operations with this Decision, taking into account the operational guidelines referred to in Article 5, and shall include sections on added value for the achievement of EU policy objectives a~~s well as on cooperation with the Commission and other international financial institutions and bilateral institutions, including co-financing.~~ nd the extent to which to which the EIB has taken into account environmental and social sustainability in the design and monitoring of the projects financed, as well as on cooperation with the Commission and other international financial institutions and bilateral institutions, including co-financing. The report shall also contain an assessment of the EIB's human and material resources policy relating to its activities outside the EU. Finally, it shall contain a specific section devoted to a detailed evaluation of the measures taken by the EIB to comply with the provisions of Article 1(2) of this decision, excluding from the scope of the guarantee all operations which would allow, or contribute directly or indirectly to, any form of tax evasion, and paying particular attention to EIB operations using financial vehicles as defined in Annex IIa.

2010/10/05
Committee: ECON

Liem HOANG NGOC

Proposal for a decision
Annex II a (new)

Annex IIa The legal forms of entities and legal arrangements to which the provisions of Articles 2(1) and 10(1) of this decision apply shall include the following: – limited liability companies whether limited by shares, guarantee or some other mechanism; – limited liability corporations whether limited by shares, guarantee or some other mechanism; – international companies or corporations; – international business companies or corporations; – exempt companies or corporations; – protected cell companies or corporations; – incorporated cell companies or corporations; – international banks, including corporations of similar name; – offshore banks, including corporations of similar name; – insurance companies or corporations; – reinsurance companies or corporations; – cooperatives; – credit unions; – partnerships of all forms including (without limitation) general partnerships, limited partnerships, limited liability partnerships, international partnerships and international business partnerships; – joint ventures; – trusts; – settlements; – foundations; – estates of deceased persons; – funds of all forms; – branches of any of the entities and arrangements listed here; – representative offices of any of the entities and arrangements listed here; – permanent establishments of any of the entities and arrangements listed here; – a multiform foundation, however described, if their operational headquarters is in one of the following jurisdictions or countries: – South Africa – the Former Yugoslav Republic of Macedonia – Andorra – Anguilla – Anjouan – Antigua and Barbuda – the Netherlands Antilles – Aruba – the Bahamas – Bahrain – Barbados – Belize – Bermuda – Brunei – Costa Rica – Djibouti – Dominica – Dubai – the United Arab Emirates – the State of Delaware (USA) – the State of Nevada (USA) – Fiji – Ghana – Grenada – Guam – Guatemala – Guernsey, Alderney or Sark – Hong Kong – the Isle of Man – the Cayman Islands – the Cook Islands – the Marshall Islands – the Solomon Islands – the Turks and Caicos Islands – the US Virgin Islands – the British Virgin Islands – Jersey – Kiribati – Labuan (Malaysia) – Lebanon – Liberia – Liechtenstein – Macao – the Maldives – the Northern Marianas Islands – Mauritius – Micronesia – Monaco – Montenegro – Montserrat – Nauru – Niue – New Caledonia – Palau – Panama – the Philippines – French Polynesia – Puerto Rico – Saint Kitts and Nevis – Saint Lucia – San Marino – Saint Vincent and the Grenadines – Samoa – Sao Tome e Principe – the Seychelles – Singapore – Somalia – Switzerland – Tonga – Tuvalu – Uruguay – Vanuatu. It will be the responsibility of the EIB to prove, if any of the above-listed legal forms of entities and legal arrangements are used, that they do not allow tax evasion or tax fraud.

2010/10/05
Committee: ECON

7 Amendments of Liem HOANG NGOC related to 2010/0101(COD)

ParlTrack - 2011-2024