2015/2127(INI) European Investment Bank (EIB) - Annual report 2014
Lead committee dossier:
Progress: Procedure completed
| Role | Committee | Rapporteur | Shadows |
|---|---|---|---|
| Lead | CONT |
PIRINSKI Georgi ( S&D)
|
HAYES Brian ( PPE),
CZARNECKI Ryszard ( ECR),
DLABAJOVÁ Martina ( ALDE),
STAES Bart ( Verts/ALE),
VALLI Marco ( EFDD),
KAPPEL Barbara ( ENF)
|
| Committee Opinion | INTA |
JADOT Yannick ( Verts/ALE)
|
Salvatore CICU ( PPE)
|
| Committee Opinion | BUDG |
GARDIAZABAL RUBIAL Eider ( S&D)
|
|
| Committee Opinion | ECON |
Barbara KAPPEL ( ENF),
Thomas MANN ( PPE),
Stanisław OŻÓG ( ECR),
Maria João RODRIGUES ( S&D),
Marco VALLI ( EFDD)
|
|
| Committee Opinion | REGI |
JAKOVČIĆ Ivan ( ALDE)
|
Salvatore CICU ( PPE),
James NICHOLSON ( ECR),
Davor ŠKRLEC ( Verts/ALE)
|
Lead committee dossier:
Legal Basis:
RoP 54
Legal Basis:
RoP 54Events
2016/09/22
EC - Commission response to text adopted in plenary
Documents
2016/04/28
EP - Results of vote in Parliament
Documents
2016/04/28
EP - Decision by Parliament
Details
The European Parliament adopted by 468 votes to 87 with 66 abstentions a resolution on the European Investment Bank (EIB) – Annual Report 2014.
Members recalled that the core task of the EIB, is to support financially projects in the interest of the Union that contribute to the balanced development of the internal market and to social, economic and territorial cohesion, and thus strengthen European integration, by fostering an increase in jobs and competitiveness.
The EIB’s investment programme should underpin the EU policy objectives in the following way:
Prioritising investments to accelerate recovery and enhance productivity : Parliament encouraged the EIB to continue in its efforts to increase the low level of investment in the EU.
Members welcomed the fact that in 2014, the EIB funded 285,000 small and medium-sized enterprises, thus safeguarding 3.6 million jobs , and signed contracts for a total of 413 projects within the EU worth EUR 69 billion and 92 new projects outside the EU for a total of EUR 7.98 billion. They observed, however, that in 2014 59.4 % of all EIB-signed projects were allocated to the top five EU economies, while the share of the other 23 Member States stood at only 30.3 %. They encouraged the EIB to implement a more balanced lending policy towards Member States, given the intensity of both the current and the long-term challenges facing the Union.
The EIB was called on to:
focus on investments in the real economy in order to stimulate jobs and growth in the EU; take into consideration when implementing its policies the fact that the unemployment rate is very high, particularly among young people; target its operations at generating investments that enhance economic recovery and productive employment , accompanied by consistent support to Member States aimed at increasing absorption capacities where necessary give decisive priority to the long-term effect of investments , regarding not only financial indicators but also, above all, their contribution to sustainable development and to a better quality of life by means of further improvements in the field of employment, social standards and the environment.
The resolution emphasised that project funding approval should be based on adequate financial and risk analysis , financial viability and sound budgetary management. Projects approved for EIB funding should offer clear added value to the European economy. Investment, structural reforms and sound budgetary policies must be part of an overall strategy.
Promoting youth employment, innovation and SMEs : Parliament encouraged the EIB to continue investing in education, skills development and jobs for young people and called on the EIB to report comprehensively on the results achieved by its Investing for Youth initiative.
Noting that SMEs in many parts of Europe face extreme difficulties accessing necessary finance, Members welcomed, in this context, the greater emphasis the EIB is placing on supporting SMEs . They emphasised the importance of the EIB in facilitating partnerships and strengthening support instruments for funding micro, small and medium-sized enterprises’ activity and for innovative start-ups. They called furthermore on the EIB to cooperate more closely with regional public institutions with a view to optimising the financing possibilities for SMEs, and develop an effective communication policy addressing potential private beneficiaries, as an integral part of its advisory function.
Enhancing environmental sustainability and climate action : Parliament noted that out of the 84 environment projects signed in 2014 inside the EU, amounting to a total of EUR 12.6 billion, sustainable transport projects accounted for EUR 5.1 billion, renewable energy and energy efficiency projects for EUR 3.7 billion, and protection of the environment projects for EUR 3.8 billion. Signed operations for the ‘climate action’ cross-cutting objective amounted to 24 % of total EIB financing inside the EU.
In this context, Members:
welcomed the launch in 2014 of new innovative instruments to support climate action, such as the Private Finance for Energy Efficiency instrument and the Natural Capital Financing Facility; encouraged the EIB’s commitment to supporting initiatives helping the EU both to stay a front-runner and to fulfil its own long-standing carbon market ambitions; called for a review of the share of EIB investments in climate action , as the 25% share has already been reached.
Promoting economic and social cohesion and convergence : Parliament recalled that EUR 19.9 billion, or 29% of total EIB financing inside the EU in 2014, were for operations supporting cohesion. It urged the EIB to include in its future annual reports detailed information about the contribution and results achieved towards implementing the objectives of cohesion policy.
The resolution called for EIB financing to be deployed towards the areas most affected by high unemployment , and for more social infrastructure projects. EIB financing should focus primarily on those countries that are lagging behind in terms of infrastructure quality and development, bearing in mind, however, the principle of sound financial management and viability of projects.
Members were concerned by the tendency to finance infrastructure such as motorways, which encourage fossil fuel consumption and therefore run counter to the Union’s long-term objectives of moving towards a carbon-free economy. They called on the EIB to include a compulsory ex-ante assessment of environmental, economic and social added value in the process for selecting projects to be funded inside and outside the EU. They also called for increased support to projects covered by the EU macro-regional strategies .
European Fund for Strategic Investments (EFSI) : Parliament welcomed the new EFSI , emphasising the need for the EFSI to function in an effective, fully transparent and fair way. It recommended close cooperation and overview of EFSI operations by Parliament and the European Court of Auditors.
The resolution stressed that the EFSI should benefit all Member States without sectoral and regional pre-allocation, and should also be consistent with ongoing regional or local investment initiatives; emphasises that EFSI funding should also benefit small-scale projects.
Furthermore, it recommended that Member States designate national promotional banks and closer cooperation between the EIB and national promotional banks, financial institutions and investment platforms, in order to pool and share expertise and know-how as well as to better align EIB actions with Member States’ policy priorities.
Members recalled that the EFSI guarantee was meant to enable the EIB to take more risks while maintaining its triple-A rating . They stressed that they will be extremely vigilant in monitoring compliance with this criterion.
In addition, the Parliament called on the EIB:
to seriously assess the financial, social and environmental impact of the Project Bonds Initiative ;
to update the external dimension of EIB interventions by paying particular attention to third countries and regions outside the EU suffering from conflict and extreme poverty and continuing to actively promote sustainable growth in developing countries; Members encouraged the EIB to develop and deploy the necessary comprehensive approach in response to the severe challenges generated by the flow of migrants to Europe, and they called for stronger conditionality for financing linked to respect for human rights and freedom of expression; to enhance the EIB’s governance, transparency and control framework. The EIB was called on to: i) to update its policies in the context of the ex-ante assessments of undertakings which are the subject of judicial investigations, as well as policies on anti-money laundering and on combating the financing of terrorism and organised crime; ii) guarantee maximum transparency and publicity regarding the system of contracts and subcontracts; iii) to develop more stringent rules on conflicts of interest; iv) to ensure that companies participating in projects co-financed by the EIB should be required to adhere to the principle of equal pay and pay transparency and to the principle of gender equality.
Documents
2016/04/28
EP - End of procedure in Parliament
2016/04/27
EP - Debate in Parliament
Documents
2016/03/08
EP - Committee report tabled for plenary
Details
The Committee on Budgetary Control adopted an own-initiative report by Georgi PIRINSKI (S&D, BG) on the European Investment Bank (EIB) – Annual Report 2014.
Members recalled that the core task of the EIB, is to support financially projects in the interest of the Union that contribute to the balanced development of the internal market and to social, economic and territorial cohesion, and thus strengthen European integration.
The EIB’s investment programme should underpin the EU policy objectives in the following way:
Prioritising investments to accelerate recovery and enhance productivity : Members encouraged the EIB to continue in its efforts to increase the low level of investment in the EU.
Members welcomed the fact that in 2014, the EIB funded 285,000 small and medium-sized enterprises, thus safeguarding 3.6 million jobs , and signed contracts for a total of 413 projects within the EU worth EUR 69 billion and 92 new projects outside the EU for a total of EUR 7.98 billion. They were delighted that the volume of signatures achieved by the EIB in 2014 is at its highest level since 2009, but stressed that signature levels have further potential.
The EIB was called on to:
provide increased technical support at pre-approval stage for Member States that have a lower success rate for project approval; focus on investments in the real economy in order to stimulate jobs and growth in the EU; target its operations at generating investments that enhance economic recovery and productive employment ; give decisive priority to the long-term effect of investments , regarding not only financial indicators but also, above all, their contribution to sustainable development and to a better quality of life by means of further improvements in the field of employment, social standards and the environment.
The report emphasised that project funding approval should be based on adequate financial and risk analysis , financial viability and sound budgetary management. Projects approved for EIB funding should offer clear added value to the European economy.
Promoting youth employment, innovation and SMEs : Members encouraged the EIB to continue investing in education, skills development and jobs for young people and called on the EIB to report comprehensively on the results achieved by its Investing for Youth initiative.
Noting that SMEs in many parts of Europe face extreme difficulties accessing necessary finance, Members welcomed, in this context, the greater emphasis the EIB is placing on supporting SMEs . They emphasised the importance of the EIB in facilitating partnerships and strengthening support instruments for funding micro, small and medium-sized enterprises’ activity and for innovative start-ups. They called furthermore on the EIB to cooperate more closely with regional public institutions with a view to optimising the financing possibilities for SMEs.
Enhancing environmental sustainability and climate action : the report noted that out of the 84 environment projects signed in 2014 inside the EU, amounting to a total of EUR 12.6 billion, sustainable transport projects accounted for EUR 5.1 billion, renewable energy and energy efficiency projects for EUR 3.7 billion, and protection of the environment projects for EUR 3.8 billion.
The report welcomed the launch in 2014 of new innovative instruments to support climate action, such as the Private Finance for Energy Efficiency instrument and the Natural Capital Financing Facility.
Members encouraged the EIB’s commitment to supporting initiatives helping the EU both to stay a front-runner and to fulfil its own long-standing carbon market ambitions. They called for a review of the share of EIB investments in climate action, as the 25% share has already been reached.
Promoting economic and social cohesion and convergence : EUR 19.9 billion, or 29% of total EIB financing inside the EU in 2014, were for operations supporting cohesion. Members regretted, however, that there is no information about the number of projects supported by the EIB Group under the relevant sectors. They urged the EIB to include in its future annual reports detailed information about the contribution and results achieved towards implementing the objectives of cohesion policy.
The report called for EIB financing to be deployed towards the areas most affected by high unemployment , and for more social infrastructure projects. EIB financing should focus primarily on those countries which are lagging behind in terms of infrastructure quality and development, bearing in mind, however, the principle of sound financial management and viability of projects.
Members were concerned by the tendency to finance infrastructure such as motorways, which encourage fossil fuel consumption and therefore run counter to the Union’s long-term objectives of moving towards a carbon-free economy. They called for increased support to projects covered by the EU macro-regional strategies .
European Fund for Strategic Investments (EFSI) : Members welcomed the new EFSI , emphasising the need for the EFSI to function in an effective, fully transparent and fair way. They recommended close cooperation and overview of EFSI operations by Parliament and the European Court of Auditors.
The report stressed that the EFSI should benefit all Member States without sectoral and regional pre-allocation, and should also be consistent with ongoing regional or local investment initiatives; emphasises that EFSI funding should also benefit small-scale projects.
Furthermore, it recommended that Member States designate national promotional banks and closer cooperation between the EIB and national promotional banks, financial institutions and investment platforms, in order to pool and share expertise and know-how as well as to better align EIB actions with Member States’ policy priorities.
Members recalled that the EFSI guarantee was meant to enable the EIB to take more risks while maintaining its triple-A rating . They stressed that they will be extremely vigilant in monitoring compliance with this criterion.
In addition, the report called on the EIB:
to seriously assess the financial, social and environmental impact of the Project Bonds Initiative ; to update the external dimension of EIB interventions by paying particular attention to third countries and regions outside the EU suffering from conflict and extreme poverty and continuing to actively promote sustainable growth in developing countries; Members encouraged the EIB to develop and deploy the necessary comprehensive approach in response to the severe challenges generated by the flow of migrants to Europe; to enhance the EIB’s governance, transparency and control framework.
The EIB is called on to: i) to update its policies in the context of the ex-ante assessments of undertakings which are the subject of judicial investigations, as well as policies on anti-money laundering and on combating the financing of terrorism and organised crime; ii) guarantee maximum transparency and publicity regarding the system of contracts and subcontracts ; iii) to develop more stringent rules on conflicts of interest; iv) to ensure that companies participating in projects co-financed by the EIB should be required to adhere to the principle of equal pay and pay transparency and to the principle of gender equality.
Documents
2016/02/23
EP - Vote in committee
2015/12/10
EP - Committee opinion
Documents
2015/12/08
EP - Committee opinion
Documents
2015/12/04
EP - Amendments tabled in committee
Documents
2015/11/20
EP - Committee opinion
Documents
2015/11/13
EP - Committee opinion
Documents
2015/10/22
EP - Committee draft report
Documents
2015/06/17
EP - JAKOVČIĆ Ivan (ALDE) appointed as rapporteur in REGI
2015/06/16
EP - PIRINSKI Georgi (S&D) appointed as rapporteur in CONT
2015/06/15
EP - JADOT Yannick (Verts/ALE) appointed as rapporteur in INTA
2015/06/11
EP - Committee referral announced in Parliament
2015/06/08
EP - GARDIAZABAL RUBIAL Eider (S&D) appointed as rapporteur in BUDG
Documents
- Commission response to text adopted in plenary: SP(2016)485
- Results of vote in Parliament: Results of vote in Parliament
- Decision by Parliament: T8-0200/2016
- Debate in Parliament: Debate in Parliament
- Committee report tabled for plenary: A8-0050/2016
- Committee opinion: PE571.413
- Committee opinion: PE567.658
- Amendments tabled in committee: PE572.929
- Committee opinion: PE567.827
- Committee opinion: PE567.790
- Committee draft report: PE565.145
- Committee draft report: PE565.145
- Committee opinion: PE567.790
- Committee opinion: PE567.827
- Amendments tabled in committee: PE572.929
- Committee opinion: PE567.658
- Committee opinion: PE571.413
- Commission response to text adopted in plenary: SP(2016)485
Activities
- Brian HAYES
Plenary Speeches (5)
- 2016/11/22 European Investment Bank annual report 2014 (A8-0050/2016 - Georgi Pirinski)
- 2016/11/22 European Investment Bank annual report 2014 (debate)
- 2016/11/22 European Investment Bank annual report 2014 (debate)
- 2016/11/22 European Investment Bank annual report 2014 (debate)
- 2016/11/22 European Investment Bank annual report 2014 (debate)
- Inés AYALA SENDER
Plenary Speeches (3)
- Ivan JAKOVČIĆ
Plenary Speeches (3)
- Liadh NÍ RIADA
Plenary Speeches (3)
- Zoltán BALCZÓ
Plenary Speeches (2)
- Hugues BAYET
Plenary Speeches (2)
- Nicola CAPUTO
Plenary Speeches (2)
- Edouard FERRAND
Plenary Speeches (2)
- Doru-Claudian FRUNZULICĂ
Plenary Speeches (2)
- Barbara KAPPEL
Plenary Speeches (2)
- Ivana MALETIĆ
Plenary Speeches (2)
- Notis MARIAS
Plenary Speeches (2)
- Georgi PIRINSKI
Plenary Speeches (2)
- Igor ŠOLTES
Plenary Speeches (2)
- Tibor SZANYI
Plenary Speeches (2)
- Marco VALLI
Plenary Speeches (2)
- Miguel VIEGAS
Plenary Speeches (2)
- Marina ALBIOL GUZMÁN
Plenary Speeches (1)
- Jean ARTHUIS
Plenary Speeches (1)
- Marie-Christine ARNAUTU
Plenary Speeches (1)
- Jonathan ARNOTT
Plenary Speeches (1)
- Zigmantas BALČYTIS
Plenary Speeches (1)
- Xabier BENITO ZILUAGA
Plenary Speeches (1)
- José BLANCO LÓPEZ
Plenary Speeches (1)
- Renata BRIANO
Plenary Speeches (1)
- Steeve BRIOIS
Plenary Speeches (1)
- Gianluca BUONANNO
Plenary Speeches (1)
- Alain CADEC
Plenary Speeches (1)
- Alberto CIRIO
Plenary Speeches (1)
- Jane COLLINS
Plenary Speeches (1)
- Michel DANTIN
Plenary Speeches (1)
- Mireille D'ORNANO
Plenary Speeches (1)
- Norbert ERDŐS
Plenary Speeches (1)
- Bill ETHERIDGE
Plenary Speeches (1)
- Lorenzo FONTANA
Plenary Speeches (1)
- Ildikó GÁLL-PELCZ
Plenary Speeches (1)
- Elena GENTILE
Plenary Speeches (1)
- Arne GERICKE
Plenary Speeches (1)
- Michela GIUFFRIDA
Plenary Speeches (1)
- Ingeborg GRÄSSLE
Plenary Speeches (1)
- Tania GONZÁLEZ PEÑAS
Plenary Speeches (1)
- Takis HADJIGEORGIOU
Plenary Speeches (1)
- Cătălin Sorin IVAN
Plenary Speeches (1)
- Benedek JÁVOR
Plenary Speeches (1)
- Philippe JUVIN
Plenary Speeches (1)
- Bernd KÖLMEL
Plenary Speeches (1)
- Béla KOVÁCS
Plenary Speeches (1)
- Giovanni LA VIA
Plenary Speeches (1)
- Marine LE PEN
Plenary Speeches (1)
- Sander LOONES
Plenary Speeches (1)
- Bernd LUCKE
Plenary Speeches (1)
- Paloma LÓPEZ BERMEJO
Plenary Speeches (1)
- Vladimír MAŇKA
Plenary Speeches (1)
- Andrejs MAMIKINS
Plenary Speeches (1)
- Dominique MARTIN
Plenary Speeches (1)
- Jean-Luc MÉLENCHON
Plenary Speeches (1)
- Louis MICHEL
Plenary Speeches (1)
- Bernard MONOT
Plenary Speeches (1)
- Marlene MIZZI
Plenary Speeches (1)
- Sophie MONTEL
Plenary Speeches (1)
- József NAGY
Plenary Speeches (1)
- Franz OBERMAYR
Plenary Speeches (1)
- Rolandas PAKSAS
Plenary Speeches (1)
- Marijana PETIR
Plenary Speeches (1)
- Miroslav POCHE
Plenary Speeches (1)
- Salvatore Domenico POGLIESE
Plenary Speeches (1)
- Laurenţiu REBEGA
Plenary Speeches (1)
- Robert ROCHEFORT
Plenary Speeches (1)
- Claude ROLIN
Plenary Speeches (1)
- Lola SÁNCHEZ CALDENTEY
Plenary Speeches (1)
- Martin SCHULZ
Plenary Speeches (1)
- Maria Lidia SENRA RODRÍGUEZ
Plenary Speeches (1)
- Siôn SIMON
Plenary Speeches (1)
- Branislav ŠKRIPEK
Plenary Speeches (1)
- Monika SMOLKOVÁ
Plenary Speeches (1)
- Davor ŠKRLEC
Plenary Speeches (1)
- Joachim STARBATTY
Plenary Speeches (1)
- Bart STAES
Plenary Speeches (1)
- Beatrix von STORCH
Plenary Speeches (1)
- Patricija ŠULIN
Plenary Speeches (1)
- Neoklis SYLIKIOTIS
Plenary Speeches (1)
- Dubravka ŠUICA
Plenary Speeches (1)
- Claudia ȚAPARDEL
Plenary Speeches (1)
- Isabelle THOMAS
Plenary Speeches (1)
- Ulrike TREBESIUS
Plenary Speeches (1)
- Daniele VIOTTI
Plenary Speeches (1)
Votes
A8-0050/2016 - Georgi Pirinski - Am 7 #
2016/04/28 Outcome: +: 365, -: 228, 0: 28
GUE/NGL
NIA8-0050/2016 - Georgi Pirinski - Résolution #
2016/04/28 Outcome: +: 468, -: 87, 0: 66
| Amendments | Dossier |
| 323 |
2015/2127(INI)
2015/10/21
REGI
53 amendments...
Amendment 1 #
Draft opinion Paragraph 1 1.
Amendment 10 #
Draft opinion Paragraph 2 2. Recognises that persistent problems such as financial barriers result in a lack of investment within the EU and the urgent need to mobilise investment in order to boost the real economy;
Amendment 11 #
Draft opinion Paragraph 2 2. Recognises that persistent problems such as financial barriers result in a lack of investment within the EU and the urgent need to mobilise investment in order to boost the real economy; welcomes, in this regard, the proposal for an Investment Plan for Europe and the new European Fund for Strategic Investments (EFSI) through its contribution to the relaunch of private investments; recalls that there is a need to ensure consistency and complementarity between the EFSI and other EU policies and instruments, in particular the ESI Funds;
Amendment 12 #
Draft opinion Paragraph 2 2. Recognises that persistent problems such as financial barriers result in a lack of investment within the EU and the urgent need to mobilise investment in order to boost the real economy; welcomes, in this regard, the proposal for an Investment Plan for Europe and the new European Fund for
Amendment 13 #
Draft opinion Paragraph 2 2. Recognises that persistent problems such as financial barriers result in a lack of investment within the EU and the urgent need to mobilise investment in order to boost the real economy; welcomes, in this regard, the proposal for an Investment Plan for Europe and the new European Fund for Strategic Investments (EFSI); recalls that there is a need to ensure consistency and complementarity between the EFSI and other EU policies and instruments, in particular the ESI Funds; calls all Member States to designate National Promotional Banks in order to facilitate the cooperation between investors and the EIB;
Amendment 14 #
Draft opinion Paragraph 2 a (new) 2a. Calls for a revision of the EIB's External Mandate so that available resources can be increasingly concentrated inside the European Union;
Amendment 15 #
Draft opinion Paragraph 2 a (new) 2a. Recalls that the European Parliament must be a key partner in selecting strategies and projects to be co-funded by the EFSI, and must play a fundamental role in monitoring the impact of these strategies and projects in terms of employment and economic growth;
Amendment 16 #
Draft opinion Paragraph 2 b (new) 2b. Emphasises that, despite its strategic role, the EFSI is merely one relatively small potential resource for supporting EIB investments; calls on the EIB to maintain a constant exchange of information with the European Parliament concerning all the work it carries out;
Amendment 17 #
Draft opinion Paragraph 4 4. Takes note of the EIB Operational Plan for 2015-2017;
Amendment 18 #
Draft opinion Paragraph 4 4. Takes note of the EIB Operational Plan for 2015-2017; welcomes the fact that it recognises that speeds of recovery differ between the Member States and that it has set economic and social cohesion as a cross-cutting policy goal; calls on the EIB to consider measures aimed at encouraging entrepreneurs by facilitating financing after the first failure, as well as support measures for developing business;
Amendment 19 #
Draft opinion Paragraph 4 4. Takes note of the EIB Operational Plan for 2015-2017; welcomes the fact that it recognises that speeds of recovery differ between the Member States and that it has set economic and social cohesion as a cross-cutting policy goal; believes that the EIB's own rules and procedures, including on horizontal and sector policies, should apply to all actions that involve EU budget including EFSI;
Amendment 2 #
Draft opinion Paragraph 1 1. Welcomes the increase in the EIB Group’s total financing activities in 2014, including over EUR 50 billion in additional lending and more than EUR 150 billion in mobilised investment, which is essential for complementing cohesion policy and the European Structural and Investment Funds (ESI Funds) and which may contribute to the creation of a stable and friendly investment and business environment;
Amendment 20 #
Draft opinion Paragraph 4 4. Takes note of the EIB Operational Plan for 2015-2017; welcomes the fact that it recognises that speeds of recovery differ between the Member States and that it has set economic and social cohesion as a cross-cutting policy goal; points out the need for greater transparency when it comes to the selection and allocation of the Funds, in particular of the EFSI;
Amendment 21 #
Draft opinion Paragraph 4 a (new) 4a. Believes that there are still considerable margins for manoeuvre for improving transparency, assessing the economic and social impact of the loans and the effectiveness in the implementation of due diligence;
Amendment 22 #
Draft opinion Paragraph 5 5. Welcomes the
Amendment 23 #
Draft opinion Paragraph 5 5.
Amendment 24 #
Draft opinion Paragraph 5 5. Welcomes the enlarged role the EIB Group will play in implementing cohesion policy for the 2014-2020 programming period; emphasises the importance of maintaining a constant dialogue with the managing authorities of operational programmes in order to establish synergies enabling improved attainment of the objectives of the Europe 2020 Strategy, amongst other things in supporting MSMEs (micro, small, and medium enterprises);
Amendment 25 #
Draft opinion Paragraph 5 5. Welcomes the enlarged role the EIB Group will play in implementing cohesion policy for the 2014-2020 programming period; to that effect, considers that there is a need to use the financial instruments in line with social and economic needs, taking account of the territorial aspect and diversity in towns, cities and rural areas;
Amendment 26 #
Draft opinion Paragraph 5 5. Welcomes the enlarged role the EIB Group will play in implementing cohesion policy for the 2014-2020 programming period; expresses its concern about the low rate of disbursement of Cohesion Policy financial instruments to beneficiaries, as also underlined by the European Court of Auditors;
Amendment 27 #
Draft opinion Paragraph 5 5. Welcomes the enlarged role the EIB Group will play in implementing cohesion policy for the 2014-2020 programming period; believes this is a step in the right direction towards improving synergies between the EIB and ESI funds;
Amendment 28 #
Draft opinion Paragraph 5 a (new) 5a. Stresses the importance to ensure transparency, accountability and scrutiny for financial instruments and the need for regular assessment of the functioning of such instruments;
Amendment 29 #
Draft opinion Paragraph 5 a (new) 5a. Emphasises the EIB’s role in financing works to assure the basic needs of third country populations; calls on the EIB to increase its efforts, in particular in those sectors which impact the weakest parts of the population, such as education and training;
Amendment 3 #
Draft opinion Paragraph 1 a (new) 1 a. Calls on the EIB to assess the effects of the economic crisis in relations with the banking system and the final recipients of EIB funding, in particular regarding SMEs, social economy sector and public companies;
Amendment 30 #
Draft opinion Paragraph 5 a (new) 5a. Similarly considers that there is a need to include both SME projects and projects aimed at smaller regions in order to improve regional cohesion in the EU;
Amendment 31 #
Draft opinion Paragraph 5 a (new) 5a. Calls on the EIB to consolidate its financing strategy by incorporating more meaningful social standards into it, and to monitor more closely the environmental impact of the funding projects;
Amendment 32 #
Draft opinion Paragraph 5 b (new) 5b. Calls on the EIB to demand greater transparency from its financial intermediaries when it comes to allocating loans to candidate projects;
Amendment 33 #
Draft opinion Paragraph 6 6. Considers administrative burdens and a lack of administrative capacity a serious obstacle to successfully achieving cohesion policy goals; stresses the importance of the EIB’s advisory role and recognises the efforts undertaken in this context;
Amendment 34 #
Draft opinion Paragraph 6 6. Considers administrative burdens and a lack of administrative capacity a serious obstacle to successfully achieving cohesion policy goals; considers it vital to review administrative policy and reduce such burdens in order to better facilitate and ensure the implementation of said cohesion policy; stresses the importance of the EIB’s advisory role and recognises the efforts undertaken in this context; welcomes the partnership between the Commission and the EIB in setting up the fi-compass advisory platform;
Amendment 35 #
Draft opinion Paragraph 6 6. Considers administrative burdens and a lack of administrative capacity a serious obstacle to successfully achieving cohesion policy goals; stresses the importance of the EIB’s advisory role and recognises the efforts undertaken in this context;
Amendment 36 #
Draft opinion Paragraph 6 6. Considers administrative burdens and a lack of administrative capacity a serious obstacle to successfully achieving cohesion policy goals; stresses the importance of the EIB’s advisory role and recognises the efforts undertaken in this context; welcomes the partnership between the Commission and the EIB in setting up the fi-compass advisory platform, particularly in the agricultural sector, with easier access to finance for farmers wishing to modernise their production processes;
Amendment 37 #
Draft opinion Paragraph 6 6. Considers administrative burdens and a lack of administrative capacity a serious obstacle to successfully achieving cohesion policy goals; stresses the importance of the EIB’s advisory role and recognises the efforts undertaken in this context; welcomes the partnership between the Commission and the EIB in setting up the fi-compass advisory platform; calls on the EIB to provide the Commission and the Member States with a set of suggestions regarding administrative streamlining and capacity-building, given its acquired experience with public funding;
Amendment 38 #
Draft opinion Paragraph 6 a (new) 6a. Expresses concern for some projects included in the national pipelines submitted to the European Commission to be financed by the EIB or at least for its support in the framework of the European Fund for Strategic Investments (EFSI); recalls that among those projects presented to the EIB, there are harmful, dangerous, wasteful plans as the HST, the implementation of ILVA steel plant in Taranto or the LNG terminals;
Amendment 39 #
Draft opinion Paragraph 6 a (new) 6a. Likewise considers that there is a need to strengthen cooperation between the Commission, the EIB and local and regional bodies to ensure that the financial instruments are used effectively to boost territorial development and cohesion policies;
Amendment 4 #
Draft opinion Paragraph 1 a (new) 1 a. Welcomes the fact that the vast majority (90%) of the EIB’s activities are focused on the European continent, but, given the particularly bleak economic and social backdrop, calls on this figure to reach 100%;
Amendment 40 #
Draft opinion Paragraph 6 a (new) 6a. Calls on the EIB to better promote their planning consultancy activities, by aiding the managing authorities of ESI funds to better spend resources available to them for the benefit of all European citizens;
Amendment 41 #
Draft opinion Paragraph 7 7.
Amendment 42 #
Draft opinion Paragraph 7 7. Calls on the EIB to increase its support to projects covered by the EU macro- regional strategy;
Amendment 43 #
Draft opinion Paragraph 7 7. Calls on the EIB to use the EFSI to increase its support to projects covered by
Amendment 44 #
Draft opinion Paragraph 7 7. Calls on the EIB to increase its support to projects covered by the EU macro- regional strategy; stresses the importance of continuing to support
Amendment 45 #
Draft opinion Paragraph 7 7. Calls on the EIB to increase its support to projects covered by the EU macro- regional strategy; stresses the importance of continuing to support the traditional economic sectors in the EU, such as agriculture, shipbuilding and tourism, the interconnection of Europe by means of support for the development of regional airports and intermodal transport; calls, furthermore, for the establishment of financial and investment platforms in order to enable the bundling of funds from various sources and the mobilisation of investments needed for such macro- regional projects;
Amendment 46 #
Draft opinion Paragraph 8 8. Emphasises the results-oriented approach for cohesion policy for the 2014- 2020 programming period; calls for more information, within the context of EIB annual reporting, on the results and the contribution of EIB activities to cohesion policy objectives;
Amendment 47 #
Draft opinion Paragraph 8 8. Emphasises the results-oriented approach for cohesion policy for the 2014- 2020 programming period; calls for more information, within the context of EIB annual reporting, on the results and the contribution of EIB activities to cohesion policy objectives; calls, in this context, on the Commission and the Member States to make full use of the possibilities afforded by Regulation (EU) No 1303/2013 to increase the use of the financial instruments, where appropriate, for the
Amendment 48 #
Draft opinion Paragraph 8 8. Emphasises the results-oriented approach for cohesion policy for the 2014- 2020 programming period; calls for more information, within the context of EIB annual reporting, on the results and the contribution of EIB activities to cohesion policy objectives; calls, in this context, on the Commission and the Member States to make full use of the possibilities afforded by Regulation (EU) No 1303/2013 to increase the use of the financial instruments, where appropriate, for the period up to 2020; points to the lack of evidence that financial instruments achieve better results than grants; and underlines that expectations cannot always be met, such as achieving the envisaged leverage effect;
Amendment 49 #
Draft opinion Paragraph 8 a (new) 8a. Recalls the importance of the multilateral cooperation between the EIB and the national promotional banks in order to foster synergies, share risks and costs, and ensure appropriate lending to EU projects with a positive impact on productivity, job creation, environmental protection and quality of life;
Amendment 5 #
Draft opinion Paragraph 2 2. Recognises that persistent problems such
Amendment 50 #
Draft opinion Paragraph 9 9. Calls for a strengthened dialogue between the EIB and Parliament’s Committee on Regional Development
Amendment 51 #
Draft opinion Paragraph 9 9. Calls for a strengthened dialogue between the EIB and Parliament’s Committee on Regional Development, through scheduled progress meetings with regard to EIB activities which have an impact on economic, social and territorial cohesion in the EU.
Amendment 52 #
Draft opinion Paragraph 9 9. Calls for a strengthened dialogue between the EIB and Parliament’s Committee on Regional Development, with regard to EIB activities which have an impact on economic, social and territorial cohesion in the EU; calls, furthermore, for regular updates on the administration costs incurred by the EIB and on the impact of financed projects in terms of employment and added economic value.
Amendment 53 #
Draft opinion Paragraph 9 9. Calls for a strengthened dialogue between the EIB and Parliament’s Committee on Regional Development, with regard to EIB activities which have an impact on economic, social and territorial cohesion in the EU; maintains that all beneficiaries should have access to financial instruments.
Amendment 6 #
Draft opinion Paragraph 2 2. Recognises that persistent problems such as financial barriers result in a lack of investment within the EU and the urgent need to mobilise investment in order to boost the real economy;
Amendment 7 #
Draft opinion Paragraph 2 2. Recognises that persistent problems such as financial barriers result in a lack of investment within the EU and the urgent need to mobilise investment in order to boost the real economy;
Amendment 8 #
Draft opinion Paragraph 2 2. Recognises that
Amendment 9 #
Draft opinion Paragraph 2 2. Recognises that
source: 569.838
2015/11/06
INTA
179 amendments...
Amendment 1 #
Draft opinion Paragraph 1 1. Calls on the Commission to establish, in cooperation with the EEAS, a framework for annual reporting by the EIB on its operations outside of the EU with regard to compliance with the general principles guiding Union external action as referred to in Article 21 TEU and the EU Strategic Framework and Action Plan on Human Rights and Democracy; urges the Commission to satisfy itself that the projects supported by the EIB are consistent with EU policies and serve European interests;
Amendment 1 #
Draft opinion Paragraph 1 1.
Amendment 10 #
Draft opinion Paragraph 2 2. Calls on the EIB to pay greater attention to the impact its operations have on human rights and to further develop its policy on social standards into a human rights policy in the area of banking; suggests to this purpose the inclusion of human rights benchmarks in its project evaluations;
Amendment 10 #
Draft opinion Paragraph 1 b (new) 1b. Takes the view that, following the annulment of the Safe Harbour Agreement by the CJEU, funding is needed for the development of data centres with a view to pushing ahead with the digitisation of the European economy and restoring consumers' trust;
Amendment 100 #
Draft opinion Paragraph 7 a (new) 7a. Underlines in this context that Member States where private-public partnerships are less developed could consider guidelines to encourage more efficient use of this type of contracts;
Amendment 101 #
Draft opinion Paragraph 7 a (new) 7a. Welcomes the EIB policy to increase the finance of SMEs and investing for youth, but regrets that results to the real economy and employment remain limited; welcomes the European Investment Fund (EIF) capital increase from € 3 billion to € 4.5 billion and calls on the EIF to provide an analytical report of its achievements based on this substantial increase; similarly asks the EIB to report on the results of the EIB Group Risk Enhancement Mandate for the benefit of innovative and high-risk SMEs;
Amendment 102 #
Draft opinion Paragraph 7 b (new) 7b. Welcomes that the EIB was in 2014 the biggest issuer with €4.3 billion in the Green Bond market, which was increased significantly reaching issuance of € 28 billion and calls on the EIB to further enforce policies of environmentally friendly renewable energy;
Amendment 103 #
Draft opinion Paragraph 7 c (new) 7c. Stresses the importance of regional development and calls on the EIB to enhance the dialogue and cooperation with regional and local authorities, banks and agencies; in this framework cross- border cooperation should be particularly supported, especially in cases of high political and economic risks;
Amendment 104 #
Draft opinion Paragraph 7 d (new) 7d. Calls on the EIB to pay particular attention to third countries and regions outside the EU, which suffer from conflict and extreme poverty having as main goal to reduce the development gap between the EU and these regions, with a special focus on the Southern Mediterranean Neighbourhood countries; calls for full respect of the legislation of the beneficiary countries; calls on the EIB to further increase the efficiency of the Results Measurement Framework (REM) for activities outside the EU; requests that the European Court of Auditors (ECA) produces a special report on the performance and alignment with EU policies of EIB external lending activities; welcomes that the EU grants are increasingly blended with EIB lending to achieve better project results in EU partner countries;
Amendment 105 #
Draft opinion Paragraph 7 a (new) 7a. Welcomes the fact that the EIB will be carrying out and requesting the publication of a climate assessment and calls for the EIB to conduct an audit of the skills of its current members to assess whether they are correctly qualified to make these judgements; Urges the EIB to present a comprehensive phase-out plan of its lending for non-renewable energy and its excessive support to large scale gas infrastructure;
Amendment 106 #
Draft opinion Paragraph 7 b (new) 7b. Calls on the EIB to follow the recommendations of the European Commission and the Waste Framework Directive and to prioritise investment in projects placed at the top of the waste hierarchy, such as waste prevention, and waste preparation for re-use or recycling, and to phase out any investment in end- of-pipeline infrastructure, such as landfills, mechanical biological treatment plants, incinerators or any other form of energy recovery;
Amendment 107 #
Draft opinion Paragraph 7 a (new) 7a. Takes note that the EIB bonds are the only example of Union debt issuances;
Amendment 108 #
Draft opinion Paragraph 7 b (new) 7b. Calls on the EIB to allow the direct purchase of EIB bonds by European citizens;
Amendment 109 #
Draft opinion Paragraph 7 c (new) 7c. Calls on the EIB to establish an on- line channel for direct purchase of EIB bonds in its website;
Amendment 11 #
Draft opinion Paragraph 2 a (new) 2 a. suggests, in this context, an Own- Initiative Investigation of the European Ombudsman on a sample of cases involving potential human rights violations facilitated by EIB operations, such as in Azerbaijan where the EIB started to operate in 2014 despite the deteriorating Human Rights situation on the ground;
Amendment 11 #
Draft opinion Paragraph 1 c (new) 1c. Welcomes the provision of risk financing instruments for start-ups and growing enterprises to fund research and innovation activities;
Amendment 110 #
Draft opinion Paragraph 7 d (new) 7d. Calls on the EIB to explore a partnership with EU postal services, NCBs and other partners for the direct commercialization of EIB bonds;
Amendment 111 #
Draft opinion Paragraph 7 e (new) 7e. Calls on the EIB to engage in a marketing campaign for the promotion of direct purchase of EIB bonds by EU citizens once this possibility is made available;
Amendment 112 #
Draft opinion Paragraph 8 8. Calls on the EIB Group to further enhance transparency and access to information
Amendment 113 #
Draft opinion Paragraph 8 8. Calls on the EIB to further enhance transparency and access to information both internally and for the
Amendment 114 #
Draft opinion Paragraph 8 8. Calls on the EIB to further enhance transparency and access to information both internally and for the public, especially regarding the selection, monitoring and evaluation of activities and programmes; proposes that an online system should be set up in order to streamline access to information on the EIB’s activities;
Amendment 115 #
Draft opinion Paragraph 8 8. Calls on the EIB to further enhance transparency and access to information both internally and for the public, especially regarding the selection, monitoring and evaluation of activities and programmes; urges the EIB to enforce the independence and efficiency of the Complaint Mechanism Office and regrets that the achievements of the Compliance Directorate and its annual activity report is not public; further steps to reduce bureaucracy are needed;
Amendment 116 #
Draft opinion Paragraph 8 8. Calls on the EIB to further enhance transparency and access to information both internally and for the public, especially regarding the selection, monitoring and evaluation of activities and programmes; calls, furthermore, for as much information as possible to be published on the contracting and subcontracting system and, at all events, for Parliament to be given access to financial information and documentation on that system;
Amendment 117 #
Draft opinion Paragraph 8 8. Calls on the EIB to further enhance transparency and access to information both internally and for the public, especially regarding the selection, monitoring and evaluation of activities and programmes, provided that no sensitive business information is involved;
Amendment 118 #
Draft opinion Paragraph 8 8. Calls on the EIB to further enhance transparency and access to information both internally and for the public, especially regarding the selection, monitoring and evaluation of activities and programmes; calls for a public nomination target which would contribute to tackling the problem of underrepresentation of women in the leadership of the EIB;
Amendment 119 #
Draft opinion Paragraph 8 8. Calls on the EIB to further enhance transparency and access to information both internally and for the public, especially regarding the selection, monitoring and evaluation of activities and programmes; such evaluation should be based on clear and measurable indicators;
Amendment 12 #
Draft opinion Paragraph 2 a (new) 2 a. Urges the EIB to continue to actively promote sustainable growth in both developed and developing countries in order to support sustainable development around the world; commends the work that the EIB has done so far in this respect including the provision of €19.1 billion to support climate action projects;
Amendment 12 #
Draft opinion Paragraph 1 a (new) 1a. Is concerned that the EIB intends to reduce its activities over the horizon 2015- 2017; expects that this is only a temporary phenomenon; warns that the EIB uses the EFSI guarantees to reduce its own activity; expects EIB to constantly keep its overall lending volume on a high level that meets the needs of the real economy;
Amendment 120 #
Draft opinion Paragraph 8 a (new) 8a. Calls for an improvement of communication channels, especially with regard to the Parliament; urges to communicate measures and procedures, such as the regulatory framework and lending mechanism of EFSI coherently so as to not shy away investors and stakeholders;
Amendment 121 #
Draft opinion Paragraph 8 a (new) 8a. Calls on the EIB to review is administrative procedures with a view to speeding up the loan award process;
Amendment 122 #
Draft opinion Paragraph 8 a (new) 8a. Calls on the EIB to publish the findings of internal investigations into all projects affected by criminal infiltration, tax fraud and corruption and at all events to give Parliament access to that information;
Amendment 123 #
Draft opinion Paragraph 8 a (new) 8a. Believes that the EIB should strengthen its capacity for macroeconomic analysis in order to better assess the opportunity of investment projects;
Amendment 124 #
Draft opinion Paragraph 9 9.
Amendment 125 #
Draft opinion Paragraph 9 9. Requests the EIB to increase its reporting to Parliament regarding its decisions, progress achieved and the impact of its lending activities within and outside the EU; calls, in particular, for closer cooperation with Parliament’s specialised committees.
Amendment 126 #
Draft opinion Paragraph 9 9. Requests the EIB to increase its reporting to Parliament regarding its decisions, progress achieved and the impact of its lending activities within and outside the EU, through regular structured dialogue between the EIB President and Parliament in order to increase parliamentary oversight and enhance cooperation and coordination between the two institutions.
Amendment 127 #
Draft opinion Paragraph 9 9. Requests the EIB to increase its reporting to Parliament regarding its decisions, progress achieved and the
Amendment 128 #
Draft opinion Paragraph 9 9. Requests the EIB Group to increase its reporting to Parliament regarding its decisions, progress achieved and the impact of its lending activities within and outside the EU; calls on the EIB Group to engage in deeper dialogue with the Parliament on all its activities within the same scheme for reporting and accountability as set out in the EFSI regulation and to fully comply with the spirit and letter of the EFSI regulation, notably concerning inter-institutional cooperation with the Parliament.
Amendment 129 #
Draft opinion Paragraph 9 a (new) 9a. Calls on the EIB to sign an interagency agreement with the European Parliament to allow questions to be put to its president, as is currently the case with the President of the European Central Bank;
Amendment 13 #
Draft opinion Paragraph 3 Amendment 13 #
Draft opinion Paragraph 2 2. Regrets that EU investment in 2013 decreased by 13% compared with the pre- crisis period with investment in some countries decreasing 25% and even by as much as 60% in others, creating a
Amendment 14 #
Draft opinion Paragraph 3 Amendment 14 #
Draft opinion Paragraph 2 2. Regrets that EU investment in 2013 decreased by 13% compared with the pre- crisis period with investment in some countries decreasing 25% and even by as much as 60% in others, creating a dangerous investment imbalance in the EU; is of the opinion that
Amendment 15 #
Draft opinion Paragraph 3 3. Welcomes the EIB public consultation on climate action and believes that the EIB can further strengthen its position as leader in the climate field; welcomes, further, any initiative designed to make the EIB’s activities consistently more transparent; looks forward to the update of the EIB climate strategy outside of the EU, with the expectation of an action plan phasing out lending to non-renewable energy projects;
Amendment 15 #
Draft opinion Paragraph 2 2. Regrets that EU investment in 2013 decreased by 13% compared with the pre- crisis period with investment in some countries decreasing 25% and even by as much as 60% in others, creating a dangerous investment imbalance in the EU; is of the opinion that this constitutes a major challenge
Amendment 16 #
Draft opinion Paragraph 3 3. Welcomes the EIB public consultation on climate action and believes that the EIB can further strengthen its position as leader in the climate field; looks forward to the update of the EIB climate strategy outside of the EU, with the expectation of an action plan phasing out lending to non-renewable energy projects; calls on the ECB to lend to the EIB on a massive scale at 0% so that the latter can in turn finance on a massive scale at 0.5% insulation projects in the EU Member States; points out that this arrangement could also be used to finance many projects in the area of renewable energy production;
Amendment 16 #
Draft opinion Paragraph 2 2. Regrets that EU investment in 2013 decreased by 13% compared with the pre- crisis period
Amendment 17 #
Draft opinion Paragraph 3 3. Welcomes the EIB public consultation on climate action and believes that the EIB can further strengthen its position as leader in the climate field; looks forward to the update of the EIB climate strategy outside of the EU, with the expectation of an action plan phasing out lending to non-renewable energy projects and an increase of its target for climate action to 40% of its portfolio;
Amendment 17 #
Draft opinion Paragraph 2 2. Regrets that EU investment in 2013 decreased by 13% compared with the pre- crisis period with investment in some countries decreasing 25% and even by as much as 60% in others, creating a dangerous investment imbalance in the EU; is of the opinion that this constitutes a major challenge for the EIB; welcomes the fact that the volume of loans granted by the EIB is at its highest level since 2009; endorses the EUR 10 billion increase in the EIB’s capital agreed by all the Member States in 2012 as shareholders in the EIB;
Amendment 18 #
Draft opinion Paragraph 3 3. Welcomes the EIB public consultation on climate action and believes that the EIB can further strengthen its position as leader in the climate field; looks forward to the update of the EIB climate strategy outside of the EU
Amendment 18 #
Draft opinion Paragraph 2 2. Regrets that overall EU investment in 2013 decreased by 13% compared with the pre-
Amendment 19 #
Draft opinion Paragraph 3 a (new) 3 a. Stresses that the financial arm of the union has to play its part in fulfilling the UN Sustainable Development Goals; calls for the post 2015 development agenda to be given special attention at the review of the mid-term external lending mandate in 2016;
Amendment 19 #
Draft opinion Paragraph 2 a (new) 2a. Urges the EIB to improve their tools to evaluate additionality so as to prevent investments from crowding out; sees this problem as particularly pressing in areas, in which investments would have taken place by private investors but where underbid by the EIB's lower interest rates and longer run time;
Amendment 2 #
Draft opinion Paragraph 1 1. Calls on the Commission to establish, in cooperation with the EEAS, a framework for annual reporting by the EIB on its operations outside of the EU with regard to compliance with the general principles guiding Union external action as referred to in Article 21 TEU and the EU Strategic Framework and Action Plan on Human Rights and Democracy; calls, with regard to investments outside the EU, for a report which goes into greater detail about possible losses and about how and in what cases the guarantee instrument has been used;
Amendment 2 #
Draft opinion Paragraph 1 1. Takes note of the 2014 EIB Annual Report and the increase by 6.92% to EUR 80.3 billion in the EIB Group’s lending
Amendment 20 #
Draft opinion Paragraph 3 a (new) 3 a. Asks the EIB to review its Emissions Performance Standard in 2016 and to lower emission thresholds to 350 g CO2/kWh in order to only support most efficient fossil fuel power plants;
Amendment 20 #
Draft opinion Paragraph 2 a (new) 2a. Regrets the lack of diversity in the management committee, the board of governors and the board of directors of the EIB, in particular with regard to gender equality;
Amendment 21 #
Draft opinion Paragraph 3 a (new) 3 a. Recommends focussing lending operations to smaller-scale, off-grid decentralised renewable energy projects involving citizens and communities, as well as to integrate the Energy Efficiency First principle in all Bank policies and operations;
Amendment 21 #
Draft opinion Paragraph 3 3. Notes the urgent need for
Amendment 22 #
Draft opinion Paragraph 3 a (new) 3 a. Welcomes the fact that the EIB has held a series of seminars on business and human rights;
Amendment 22 #
Draft opinion Paragraph 3 3. Notes th
Amendment 23 #
Draft opinion Paragraph 3 b (new) 3 b. Calls on the EIB to annually report on the implementation of its Climate Policy;
Amendment 23 #
Draft opinion Paragraph 3 3. Notes the urgent need for an increase in
Amendment 24 #
Draft opinion Paragraph 3 b (new) 3 b. Urges the EIB to take greater advantage of the fact that it is subject to the EU human rights, social and environmental rules and the EU judicial mechanisms which can allow it to upgrade its substantive and procedural accountability towards external stakeholders;
Amendment 24 #
Draft opinion Paragraph 3 3.
Amendment 25 #
Draft opinion Paragraph 3 c (new) 3 c. Welcomes the implementation of new trade finance projects aimed at countries heavily impacted by the economic crisis, including the SME Trade Finance Facility or tailor-made financial solutions such as the European Progress Microfinance Facility dedicated to financial inclusion;
Amendment 25 #
Draft opinion Paragraph 3 3. Notes the urgent need for a
Amendment 26 #
Draft opinion Paragraph 4 4. Commends the very high level of transparency achieved by the EIB; suggests further improvements in transparency with regard to the assessment of the economic
Amendment 26 #
Draft opinion Paragraph 3 3. Notes the urgent need for an increase in EIB lending activity to fund research and innovation projects and points to the importance of strengthening support instruments for SMEs and for innovative start-ups;
Amendment 27 #
Draft opinion Paragraph 4 4. Commends the high level of transparency achieved by the EIB; suggests further improvements in transparency
Amendment 27 #
Draft opinion Paragraph 3 3. Notes the urgent need for an increase in EIB
Amendment 28 #
Draft opinion Paragraph 4 4. Commends the high level of transparency achieved by the EIB; suggests further improvements in transparency with regard to the assessment of the economic and social impact of the EIB’s intermediated loans; is irritated by the way the EIB is handling the results of its own investigation into the 17 loans exceeding in total 4 billion Euro provided to the Volkswagen group between 2005 and 2015, out of which 12 loans aimed at fuel efficiency and emissions reduction and five were classified as EIB's Climate Action;
Amendment 28 #
Draft opinion Paragraph 3 3. Notes the urgent need for an increase in EIB lending activity and, therefore, for a further increase in the EIB's capital;
Amendment 29 #
Draft opinion Paragraph 4 – point a (new) (a) recalls that SMEs are the backbone of the European economy; stress that over 600,000 SMEs, employing more than 6 million people,are responsible for one third of EU total exports. Emphasises that access to finance is one of the most pressing issues for EU SMEs and therefore, calls on the EIB to ensure SMEs be one of the main recipients of EIB funding;
Amendment 29 #
Draft opinion Paragraph 3 3. Notes the urgent need for an increase in EIB lending activity; welcomes the increase of signatures to highest levels since 2009 but signatures levels have further potentials;
Amendment 3 #
Draft opinion Paragraph 1 (new) Notwithstanding, the lending policies and practice of the European Investment Bank should conform in the first instance to sound commercial principles;
Amendment 3 #
Draft opinion Paragraph 1 1. Takes note of the 2014 EIB Annual Report and the increase by 6.92% to EUR 80.3 billion in the EIB Group’s lending;
Amendment 30 #
Draft opinion Paragraph 4 a (new) 4 a. deplores the fact that for the construction of Trans Adriatic Pipeline, within the EU borders, a legal entity incorporated in Switzerland (TRANS ADRIATIC PIPELINE AG) is being used, and calls on the EIB to provide an explanation why the biggest ever single investment loan (EUR 2 bn) will end up in the Swiss tax haven;
Amendment 30 #
Draft opinion Paragraph 3 3. Notes the urgent need for an increase in EIB lending activity; Calls, therefore, on the Member States to consider once again increasing the capital of this European institution;
Amendment 31 #
Draft opinion Paragraph 4 a (new) 4 a. Recommends to the EIB internal Complaints Mechanism Office to launch an investigation on the transparency, effectiveness and development impacts of the intermediated lending of the EIB, and for the Bank to act on the outcomes of this investigation, leading to a list of criteria for the selection of financial intermediaries;
Amendment 31 #
Draft opinion Paragraph 3 3. Notes the urgent need for an increase in EIB lending activity; asks Member States to explore innovative ways for stimulating credit demand in future oriented and job rich activities such as renewables, resource efficiency and the circular economy by means of medium-term fiscally neutral instruments such as deferred tax credits associated with eligible loans in these sectors;
Amendment 32 #
Draft opinion Paragraph 4 b (new) 4 b. Calls on the EIB to provide to the European Parliament and to the public detailed information on the EIB funding and the performance of the business ombudsman in the Ukraine;
Amendment 32 #
Draft opinion Paragraph 3 a (new) 3a. Calls on the EIB to play a complementary role, and not to compete directly with private investors, for instance by moving into pockets where other investors are more reluctant to move into;
Amendment 33 #
Draft opinion Paragraph 4 b (new) 4 b. Asks the EIB to refrain from cooperation with financial intermediaries having a negative track record in terms of transparency, tax evasion or aggressive tax planning practices, or use of other harmful tax practices such as 'tax rulings' and abusive transfer pricing, fraud, corruption or environmental and social impacts, or with no substantial local ownership;
Amendment 33 #
Draft opinion Paragraph 3 b (new) 3b. Calls on the EIB to act in a market conform way so as to create an equal level playing field for other investors;
Amendment 34 #
Draft opinion Paragraph 5 5. Calls on the EIB to improve effective access to funding for SMEs originating from the EIF and EIB’s external lending capacities; welcomes the undertaking given by the EIB to combat discrimination in the business sector, and calls for it to intervene more and more frequently in this area; suggests the establishment of pro-active SME and micro-enterprise policy requirements for intermediary banks disbursing EIB financing through global loans;
Amendment 34 #
Draft opinion Paragraph 3 c (new) 3c. Calls on the EIB to become less bureaucratic and remove barriers in its procedures so that it can adapt faster to the changing needs of the economic and investment ecosystem;
Amendment 35 #
Draft opinion Paragraph 5 5. Calls on the EIB to improve effective access to funding for SMEs originating
Amendment 35 #
Draft opinion Paragraph 3 a (new) 3a. Stresses the importance of implementing labour-intensive projects in order to maximize the impact in terms of job creation;
Amendment 36 #
Draft opinion Paragraph 5 5. Calls on the EIB to improve effective access to funding for SMEs originating from the EIF and EIB’s external lending capacities; suggests the establishment of pro-active SME and micro-enterprise policy requirements for intermediary banks disbursing EIB financing through global loans; welcomes in that regard the SME Trade Finance Facility,offering guarantees to foreign banks providing trade finance to SMEs and thereby contributing to reignite trade flows and alleviating cash collateral constraints; calls on the EIB to consider extending these new instruments to new beneficiaries in the EU;
Amendment 36 #
Draft opinion Paragraph 3 b (new) 3b. Calls for EIB to cut red tape, improve the efficiency of project evaluation and simplify the application procedures;
Amendment 37 #
Draft opinion Paragraph 5 – point a (new) (a) welcomes in particular the EIB’s financing activity in support of infrastructure and transport projects in Europe's regions; emphasises that financial support of this kind significantly increases the development potential of trade, by fostering growth and competitiveness in particular in those areas with natural geographical disadvantages;
Amendment 37 #
Draft opinion Paragraph 4 Amendment 38 #
Draft opinion Paragraph 5 a (new) 5 a. Calls on the EIB to ensure that companies participating in projects co- financed by the EIB shall be required to adhere to the principle of equal pay and pay transparency and to the principle of gender equality as set out in Directive 2006/54/EC of the European Parliament and of the Council of 5 June 2006 on the implementation of the principle of equal opportunities and equal treatment of men and women in matters of employment and occupation. Furthermore, when deciding which projects to finance, the EIB shall take into account the corporate social responsibility measures taken by candidate companies.
Amendment 38 #
Draft opinion Paragraph 4 Amendment 39 #
Draft opinion Paragraph 5 a (new) 5 a. Considers the Deep and Comprehensive Free Trade Area (DCFTA) Facility for Small and Medium Enterprises to be insufficiently funded considering the importance of its objective to foster quality jobs and sustainable development, with €200 million to be provided over a ten year period in three different Eastern Partnership countries via the European Bank for Reconstruction and Development (EBRD) and the EIB;
Amendment 39 #
Draft opinion Paragraph 4 4.
Amendment 4 #
Draft opinion Paragraph 1 a (new) 1 a. urges the EIB to review its funding activities in line with resolution 2015/2840(RSP) of the European Parliament on Azerbaijan, which calls on the Commission to review and suspend temporarily, if needed, all funding not related to human rights, civil society and grassroots level people-to-people cooperation granted to Azerbaijan through the European Neighbourhood Instrument, due to the continuously deteriorating human rights situation in Azerbaijan;
Amendment 4 #
Draft opinion Paragraph 1 1. Takes note of the 2014 EIB Annual Report and the increase by 6.92% to EUR 80.3 billion in the EIB Group’s lending, which has made it possible to provide support for 285 000 small and medium-sized enterprises and to secure 3.6 million jobs; is very concerned at the
Amendment 40 #
Draft opinion Paragraph 5 a (new) 5 a. Calls on the EIB to pay special attention to private sector development in its lending outside the EU;
Amendment 40 #
Draft opinion Paragraph 4 4.
Amendment 41 #
Draft opinion Paragraph 5 a (new) 5a. Calls on the EIB to concentrate the funds earmarked for developing countries on infrastructure development and to work alongside the African Development Bank (AfDB) to finance long-term investments in the service of economic development;
Amendment 41 #
Draft opinion Paragraph 4 4. Calls on the EIB to re-examine its strategic planning programme,
Amendment 42 #
Draft opinion Paragraph 5 b (new) 5 b. Welcomes the solution found with the World Bank enabling the EIB to contribute to facilitating Ukrainian gas purchase;
Amendment 42 #
Draft opinion Paragraph 4 4. Calls on the EIB to re-examine its strategic planning programme, given th
Amendment 43 #
Draft opinion Paragraph 5 b (new) 5 b. Calls on the EIB to leverage financial resources by partnering with others and by blending EU grants with EIB lending;
Amendment 43 #
Draft opinion Paragraph 4 4. Calls on the EIB Group to re-examine its strategic planning programme, given the high degree of concentration of funding for the four biggest economies in the EU accounting for more than 45%, and the disproportionate rise in unemployment levels and investment gaps in some other countries which remain
Amendment 44 #
Draft opinion Paragraph 5 c (new) 5 c. Considers that the EIB's contribution to SMEs support programmes in trading partner countries in the Eastern and Southern neighbourhood should focus on facilitating the participation of these companies in European value chains; points out that the method of relying on partner banks on local financial markets can be problematic for access to finance for SMEs when the local interest rates are very high such as in Ukraine;
Amendment 44 #
Draft opinion Paragraph 4 4. Calls on the EIB to re-examine its strategic planning programme, given the high degree of concentration of funding for the four biggest economies in the EU accounting for more than 45%, and the disproportionate rise in unemployment levels in some other countries which remains at alarming levels, and which could hamper economic convergence in the EU and further damage growth prospects and social cohesion in specific countries and regions in the EU; emphasises the need to take into account the employment potential of the projects selected in those EU countries suffering from mass unemployment; emphasises the urgent need to stimulate investment in the green transition in the light of the Paris COP2 negotiations in 2015;
Amendment 45 #
Draft opinion Paragraph 6 6. Calls on the EIB to update its policies on anti-money laundering and on combating the financing of terrorism, including the establishment of a new responsible taxation policy, starting with a review of its policy on non-cooperative jurisdictions (NCJ policy) in 2016. EIB policies on anti- money laundering should have particular regard to EU Member State Luxembourg;
Amendment 45 #
Draft opinion Paragraph 4 a (new) 4a. Emphasises that in order for the EIB to be able to support set economic goals, trust in the soundness of the financial situation of the institution itself as well as in the projects it supports are key; therefore, the bank’s lending activities have to be of high quality;
Amendment 46 #
Draft opinion Paragraph 6 6. Calls on the EIB, in the context of the ex-ante assessment of undertakings which are the subject of judicial investigations, to update its policies on anti-money laundering and on combating the financing of terrorism and organised crime, including the establishment of a new responsible taxation policy, starting with a review of its policy on non-cooperative jurisdictions (NCJ policy) in 2016.
Amendment 46 #
Draft opinion Paragraph 4 a (new) 4a. Notes the growth potentials of the ECB's Public Sector Purchase Programme (PSPP), which enables for the purchase of EIB's marketable debt securities and regrets that such purchases are only conducted by National Central Banks and up to a limit of 12% of the total value of purchased marketable debt securities under the PSPP;
Amendment 47 #
Draft opinion Paragraph 6 a (new) 6 a. Calls on the EIB to retain the necessary flexibility within its mandate to react to disruptive developments abroad and to potentially increase external financing towards the EU's Eastern and Southern Mediterranean neighbourhood in times of crises;
Amendment 47 #
Draft opinion Paragraph 4 a (new) 4a. Emphasises that expanding the EIB’s financing activities is no substitute for consolidated budgets and structural reforms in the Member States;
Amendment 48 #
Draft opinion Paragraph 6 a (new) 6 a. Recommends to the EIB to make both direct funding and funding via intermediaries contingent upon the disclosure of country-by-country tax- relevant data along the lines of the CRD-4 (Capital Requirements Directive) provision for credit institutions;
Amendment 48 #
Draft opinion Paragraph 4 b (new) 4b. Emphasises that investment, structural reforms and sound budgetary policies must be part of an overall strategy;
Amendment 49 #
Draft opinion Paragraph 6 a (new) 6 a. Calls on the EIB to collect data on the tax payments resulting from its investment and lending operations, especially on taxation of corporate profits and particularly in developing countries, and to analyse and publish this data annually;
Amendment 49 #
Draft opinion Paragraph 4 a (new) 4a. Calls on the EIB to include a more robust compulsory ex ante assessment of environmental, economic and social added value in the process for selecting projects to be funded inside and outside the EU; calls for that assessment to be based on a scoreboard of quantitative and qualitative indicators of financial and environmental sustainability and economic and social usefulness, to be drawn up following public consultations and a canvassing of the views of civil- society organisations; calls, furthermore, for all ex ante and ex post assessments to be carried out by an independent body and for stakeholders, local, regional and national authorities and civil society representatives to be actively involved; calls for the findings of such assessments and details of the indicators used to be made fully accessible to the public;
Amendment 5 #
Draft opinion Paragraph 1 a (new) 1 a. Commends the increasing support provided by the EIB to trade facilitation programs seeing as these programs have the capacity to maximize the economic impact of trade-related infrastructure assistance; further calls on the EIB to help with the implementation of the WTO Trade Facilitation Agreement;
Amendment 5 #
Draft opinion Paragraph 1 1. Takes note of the 2014 EIB A
Amendment 50 #
Draft opinion Paragraph 6 b (new) 6 b. Believes that further development of the EIB's missions and responsibilities must be matched by a commensurate increase in the bank's capital;
Amendment 50 #
Draft opinion Paragraph 4 a (new) 4a. Considers that the EIB should evolve towards the development bank model in the context of improved macroeconomic coordination among the Member States;
Amendment 51 #
Draft opinion Paragraph 4 b (new) 4b. Considers that the EIB should be not only a financial institution but also a knowledge and good practices bank;
Amendment 52 #
Draft opinion Paragraph 4 c (new) 4c. Suggests that the EIB enhance its sectoral analysis capacities;
Amendment 53 #
Draft opinion Paragraph 5 5. Takes note of the establishment of the European Fund for Strategic Investment (EFSI) and
Amendment 54 #
Draft opinion Paragraph 5 5. Takes note of the establishment of the European Fund for Strategic Investment (EFSI) and emphasises the need for the EFSI to
Amendment 55 #
Draft opinion Paragraph 5 5. Takes note of the establishment of the European Fund for Strategic Investment (EFSI) and emphasises the need for the EFSI to function in an effective, transparent and fair way and to take into account that priority should be given to projects
Amendment 56 #
Draft opinion Paragraph 5 5. Takes note of the establishment of the European Fund for Strategic Investment (EFSI) and emphasises the need for the EFSI to function in an effective, transparent and fair way and to take into account that priority should be given to projects in strategic sectors
Amendment 57 #
Draft opinion Paragraph 5 5.
Amendment 58 #
Draft opinion Paragraph 5 5. Takes note of the establishment of the European Fund for Strategic Investment (EFSI) and emphasises the need for the EFSI to function in an independent, effective, transparent and fair way
Amendment 59 #
Draft opinion Paragraph 5 5. Takes note of the establishment of the European Fund for Strategic Investment (EFSI) and emphasises the need for the EFSI to function in an effective, transparent and fair way and to take into account that priority should be given to projects in strategic sectors
Amendment 6 #
Draft opinion Paragraph 2 2. Calls on the EIB to pay greater attention to the impact its operations have on human rights, in particular with respect to labour rights, and to further develop its policy on social standards into a human rights policy in the area of banking;
Amendment 6 #
Draft opinion Paragraph 1 1. Takes note of the 2014 EIB Annual Report and the increase by 6.92% to EUR 80.3 billion in the EIB Group’s lending; is very concerned at the increasing high unemployment, inequality and poverty levels, weak public investment and the continuous
Amendment 60 #
Draft opinion Paragraph 5 5.
Amendment 61 #
Draft opinion Paragraph 5 5. Takes note of the establishment of the European Fund for Strategic Investment (EFSI) and emphasises the need for the EFSI to function in an effective, transparent and fair way and to take into account that priority should be given to projects in strategic sectors, countries in adjustment programmes and regions which have difficulties in attracting funding because of their high risk environment; underlines that decent job creation, positive cost-benefit analysis, additionality, growth acceleration, social cohesion, climate change and environmental protection should be the main selection criteria; the EFSI should prove that has the proper strategic planning and structures to mobilise private investment and additional public funding and to direct it to sound projects with added value for the European economies and societies;
Amendment 62 #
Draft opinion Paragraph 5 5. Takes note of the establishment of the European Fund for Strategic Investment (EFSI) and emphasises the need for the EFSI to function in an effective, transparent and fair way and to take into account that priority should be given to projects in strategic sectors, countries in adjustment programmes and regions which have difficulties in attracting funding because of their high risk environment; criticises the fact that the list of projects to be funded under the EFSI includes high- environmental-impact infrastructure such as biorefineries and steelworks and regasification and gas storage plants;
Amendment 63 #
Draft opinion Paragraph 5 a (new) 5a. Is concerned by the fact that the EIB proceeds with financing of projects without taking into consideration the necessity of establishing an investment committee as requested by the Parliament;
Amendment 64 #
Draft opinion Paragraph 5 a (new) 5a. Emphasises that the EIB should give priority to innovation-based projects which offer clear European value added;
Amendment 65 #
Draft opinion Paragraph 5 b (new) 5b. Endorses the paradigm shift away from the use of public funds in the form of subsidies and towards loans and guarantees designed to mobilise private capital;
Amendment 66 #
Draft opinion Paragraph 5 c (new) 5c. Welcomes the greater emphasis the EIB is placing on supporting small and medium-sized enterprises; calls on the EIB to cooperate more closely with regional public institutions with a view to optimising the financing possibilities for SMEs;
Amendment 67 #
Draft opinion Paragraph 5 d (new) 5d. Welcomes the improvements to the EIB’s advisory services, which will make for more efficient use of EU funds and more effective preparation and implementation of projects;
Amendment 68 #
Draft opinion Paragraph 5 a (new) 5a. Stresses that the EIB should consider the viability of projects as the core criterion for lending; calls on the EIB to focus on investments in the real economy in order to stimulate jobs and growth in the EU;
Amendment 69 #
Draft opinion Paragraph 5 a (new) 5a. Urges the EIB Group to develop an increased focus on economic and labour market resilience in the context of technological changes, environmental constraints, globalisation and demographic trends; calls on it to prioritise investment operations with high potential in terms of job creation and environmental sustainability, particularly in areas of greatest need, and to expand its cooperation with other development banks in this direction;
Amendment 7 #
Draft opinion Paragraph 2 2. Calls on the EIB to pay greater attention to the impact its operations have on human rights and to further develop its policy on
Amendment 7 #
Draft opinion Paragraph 1 1. Takes note of the 2014 EIB Annual Report and the increase by 6.92% to EUR 80.3 billion in the EIB Group’s lending; is very concerned at
Amendment 70 #
Draft opinion Paragraph 5 b (new) 5b. Calls on the EIB Group to consider strengthening non-financial criteria in its project assessment models, giving greater weight to projects' contribution to sustainable and inclusive development and cohesion in line with Protocol (No 28) on Economic, Social and Territorial Cohesion, while aiming at maximum transparency;
Amendment 71 #
Draft opinion Paragraph 5 a (new) 5a. Appeals to the EIB to implement and further develop EFSI in good cooperation with the co-legislators; underlines that this includes a timely and mandatory conclusion of the pending agreement between European Parliament and EIB;
Amendment 72 #
Draft opinion Paragraph 5 a (new) 5a. Is extremely concerned at the fact that the EIB is looking into the possibility of funding the Turin-Lyon high-speed rail link under the EFSI, despite this major project being excessively costly, unnecessary and economically, socially and environmentally unsustainable;
Amendment 73 #
Draft opinion Paragraph 5 b (new) 5b. Criticises the fact that the EIB has funded major infrastructure projects with a high environmental impact that have proved financially unsustainable and devoid of economic and social added value; calls for EIB funding to be concentrated exclusively on projects that can be shown to be financially sustainable and economically and socially useful;
Amendment 74 #
Draft opinion Paragraph 5 c (new) 5c. Calls on the EIB not to fund non- renewable energy generation projects and to look into the feasibility of discontinuing loans to those already approved;
Amendment 75 #
Draft opinion Paragraph 5 d (new) 5d. Criticises the fact that the EIB has provided funding for the ‘Passante di Mestre’ motorway bypass, which is the subject of tax fraud investigations conducted by the Italian authorities; calls once again on the EIB not to use the Project Bond Initiative or any other financial instrument to fund this project;
Amendment 76 #
Draft opinion Paragraph 5 e (new) 5e. Criticises the fact that the EIB has provided funding of some EUR 300 million for the construction of line 4 of the Milan metro, a project in respect of which five disqualification orders have been issued by the Italian authorities on grounds of criminal infiltration of subcontractors;
Amendment 77 #
Draft opinion Paragraph 5 f (new) 5f. Urges the EIB not to provide funding for the construction of the Brescia- Verona high-speed rail link, even if the Italian authorities apply for it, given that investigations into criminal infiltration of the project are currently under way and the project has been shown to be financially and environmentally unsustainable;
Amendment 78 #
Draft opinion Paragraph 5 g (new) 5g. Criticises the fact that the EIB provided a total of EUR 700 million in funding for the completion of the 62- kilometre-long Brescia-Bergamo-Milan motorway by means of direct and indirect loans, despite the fact that this was presented as being one of the largest 100% privately funded projects, i.e. one that did not require any public funding; criticises, furthermore, the fact that the project was based on over-optimistic toll revenue forecasts which subsequently proved inaccurate, resulting in public money being spent on ensuring that the private operators involved can make a profit;
Amendment 79 #
Draft opinion Paragraph 5 h (new) 5h. Criticises the fact that the EIB helped to fund the Castor project in Spain despite the seismic risks involved in injecting gas being known beforehand;
Amendment 8 #
Draft opinion Paragraph 2 2. Calls on the EIB to pay greater attention to the impact its operations have on human rights
Amendment 8 #
Draft opinion Paragraph 1 1. Takes note of the 2014 EIB Annual Report and the increase by 6.92% to EUR 80.3 billion in the EIB Group’s lending; is very concerned at the increasing high unemployment, inequality and poverty levels, weak investment and the continuous uncertainty in the financial markets; underlines that in these economic and social circumstances many EU member- states are far behind in their target to meet the Europe 2020 goals;
Amendment 80 #
Draft opinion Paragraph 6 Amendment 81 #
Draft opinion Paragraph 6 6. Calls on the EIB to refrain from cooperating with financial partners w
Amendment 82 #
Draft opinion Paragraph 6 6. Calls on the EIB to refrain from cooperating with financial partners with a proven negative track record and to enforce prevention measures against
Amendment 83 #
Draft opinion Paragraph 6 6. Calls on the EIB to refrain from
Amendment 84 #
Draft opinion Paragraph 6 6. Calls on the EIB to
Amendment 85 #
Draft opinion Paragraph 6 6. Calls on the EIB to refrain from cooperating with financial partners with a negative track record
Amendment 86 #
Draft opinion Paragraph 6 6. Calls on the EIB to refrain from cooperating with financial partners with a negative track record and to enforce prevention measures against tax havens, fraud and evasion as well as
Amendment 87 #
Draft opinion Paragraph 6 6. Calls on the EIB to refrain from cooperating with financial partners with a negative track record and to enforce prevention measures against tax havens, fraud and evasion as well as aggressive tax avoidance; calls for these prevention measures to include ensuring that no EIB funding can go to ultimate beneficiaries or financial intermediaries which make use of tax havens or harmful tax practices;
Amendment 88 #
Draft opinion Paragraph 6 6. Calls on the EIB Group to refrain from cooperating with financial partners with a negative track record, particularly in the field of corporate taxation, and to enforce prevention measures against tax havens, tax fraud and tax evasion as well as aggressive tax avoidance; requests a list of outstanding EIB Group transactions involving counterparts established in jurisdictions featuring on the Commission's list of "top 30" tax havens around the world;
Amendment 89 #
Draft opinion Paragraph 6 6. Calls on the EIB to refrain from cooperating with financial partners with a negative track record and to enforce prevention measures against tax havens, fraud and evasion as well as aggressive tax avoidance; in this vein calls on the EIB to refrain from lending to companies that have undertaken dishonest activities, such as Volkswagen, who have received over €4bn of loans from the EIB since 1990; calls for the EIB to reclaim these loans where they were not spent honestly;
Amendment 9 #
Draft opinion Paragraph 2 2. Calls on the EIB to pay greater attention to the impact its operations have on human rights
Amendment 9 #
Draft opinion Paragraph 1 a (new) 1a. Welcomes, in particular, the introduction of a new range of products for European innovators of all sizes, the setting-up of an advisory service for large- scale R&D projects, the investments in strategic infrastructure and the first bond scheme for broadband network projects;
Amendment 90 #
Draft opinion Paragraph 6 a (new) 6a. Calls on the EIB to take a leading role on issues of tax transparency and responsibility and urges it to adopt a new, more responsible tax policy, starting with a review of its policy on non-cooperative jurisdictions, including tax havens inside the EU; calls in particular on the EIB to make the disbursement of direct and indirect funding conditional on public reporting, on a country-by-country basis, of corporate tax and accounting data and to gather and publish information on the actual recipients of EIB funding;
Amendment 91 #
Draft opinion Paragraph 6 a (new) 6a. Calls on the EIB to adopt an effective and up-to-date Responsible Taxation Policy, to be overseen by a Tax Unit and detailed within an Annual Tax Report; calls for this policy to include regular country tax assessments in order to identify problematic jurisdictions; calls for this policy to involve the EIB actively using its relocation clause and systematically publishing the domicile of funds which benefit from EIB support, as well as the domicile of the ultimate beneficiaries of the funds if they are supported by financial intermediaries;
Amendment 92 #
Draft opinion Paragraph 7 Amendment 93 #
Draft opinion Paragraph 7 7. Calls on the EIB to re-evaluate the private-public partnerships
Amendment 94 #
Draft opinion Paragraph 7 7. Calls on the EIB to
Amendment 95 #
Draft opinion Paragraph 7 7. Calls on the EIB to
Amendment 96 #
Draft opinion Paragraph 7 7. Calls on the EIB to re-evaluate the private-public partnerships in terms of their profitability for the relevant economies and societies and to examine alternative methods of funding
Amendment 97 #
Draft opinion Paragraph 7 7. Calls on the EIB to re-evaluate the private-public partnerships in terms of their outcomes, their real added value, the tax revenue they generate and their profitability for the relevant economies and societies and to examine alternative methods of funding, possibly through increasing public investments;
Amendment 98 #
Draft opinion Paragraph 7 7. Calls on the EIB Group to re-evaluate the private-public partnerships in terms of their
Amendment 99 #
Draft opinion Paragraph 7 7. Calls on the EIB to re-evaluate the private-public partnerships in terms of their profitability for the relevant economies and societies and to examine alternative methods of funding, possibly through increasing public investments and through the creation of green bonds or social bonds; urges with that perspective the EIB to work in cooperation with the ECB for enhancing the provision of eligible assets in the context of the ECB's asset purchase programme; calls for an assessment of the skills and knowledge of the EIB leadership in assessing green loans and financing;
source: 569.704
2015/11/24
BUDG
21 amendments...
Amendment 1 #
Draft opinion Paragraph 1 1. Welcomes the launch of the European Fund for Strategic Investments and urges the EIB to ensure the additionality of its financing operations over ongoing EU programmes and traditional EIB activities; is worried that many projects selected during the warehousing phase would have found access to financing under normal conditions and do not meet the additionality requirement; recalls that the EFSI guarantee was meant to enable the EIB to take more risks and to move away from its triple-A-rating mantra; warns that it will be extremely vigilant in monitoring compliance with this criterion; highlights the need for more transparency, which requires improved reporting practices; furthermore, calls on the EIB to make a transparent and sound use of the scoreboard.
Amendment 10 #
Draft opinion Paragraph 3 a (new) 3a. Stresses the importance of avoiding geographical imbalances in EIB's lending activity so as to ensure a broader geographical and sectorial allocation;
Amendment 11 #
Draft opinion Paragraph 3 a (new) 3a. Expects the EIB group to be particularly watchful with regard to compliance with Article 140 (6) of the Financial regulation providing that financial instruments ‘shall not generate undue advantages, in particular in the form of undue dividends or profits for third parties’, given some fears that EFSI could in any way contribute to the ‘socialisation of risks and privatisation of profits’ in the light of financing experiences such as the Castor project in Spain, or the Passante di Mestre project (Italy);
Amendment 12 #
Draft opinion Paragraph 4 a (new) 4a. Considers that beyond the EIB and NPBIs, involvement of all relevant actors is needed to address different needs and market conditions in the different Member states and to achieve genuine additionality;
Amendment 13 #
Draft opinion Paragraph 5 5. Expresses its intention to scrutinise closely the implementation of the EIB external mandate ahead of the mid-term review, also bearing in mind the potential activation of an additional EUR 3 billion; confirms its commitment to closely examine the first ‘project completion reports’ to be published under the ELM for the period 2014-2020.
Amendment 14 #
Draft opinion Paragraph 5 5.
Amendment 15 #
Draft opinion Paragraph 5 a (new) 5a. Calls in this respect to enhance the EIB's external mandate in order to respond to the current challenges which the EU is facing; stresses the importance of EIB's financing activities in the Eastern and Southern Neighbourhood; recalls that the main financing activities should also aim at addressing both urgent needs and longer term challenges such as rebuilding infrastructure, ensuring adequate housing and emergency response infrastructure and combating youth unemployment;
Amendment 16 #
Draft opinion Paragraph 5 b (new) 5b. Encourages the EIB to strengthen its activities so as to help address the external dimension and root causes of the current refugee and migration crisis; calls on the EIB in this respect to focus its activities in supporting investment needs in urban, health, educational and social infrastructure, stimulating economic activities that create new job opportunities and promoting cross-border cooperation between Member States and third countries ;
Amendment 17 #
Draft opinion Paragraph 6 6. Fully supports an effective check that all
Amendment 18 #
Draft opinion Paragraph 6 a (new) 6a. Recalls on the dramatically high unemployment rates in many Member States, namely among young people, and urges the European Investment Bank to take this element in consideration when implementing its policies;
Amendment 19 #
Draft opinion Paragraph 6 a (new) 6a. Urges the EIB to stop providing funds to people who might have made use of tax havens in order to increase their profits and to avoid tax, and to make its blacklist of tax havens more meaningful;
Amendment 2 #
Draft opinion Paragraph 1 1. Welcomes the launch of the European Fund for Strategic Investments and urges the EIB to ensure the additionality of its financing operations over ongoing EU programmes and traditional EIB activities; is worried that many projects selected
Amendment 20 #
Draft opinion Paragraph 6 a (new) 6a. Emphasises the need to include in EIB annual reports a more comprehensive and detailed analysis of investment requirements by sector in the EU, in order to be able to identify any areas in which investment falls short of what is required for the pursuit of the EU's priorities; believes that the EIB should assess the ability of its investment instruments to make good such shortfalls;
Amendment 21 #
Draft opinion Paragraph 6 b (new) 6b. Takes the view that the EIB should not grant close to 10% of its loans outside the EU, as this could be damaging to the interests of firms based in the Member States.
Amendment 3 #
Draft opinion Paragraph 1 1.
Amendment 4 #
Draft opinion Paragraph 1 1.
Amendment 5 #
Draft opinion Paragraph 1 a (new) 1a. Criticises the fact that the EIB has funded major infrastructure projects with a high environmental impact that have proved financially unsustainable and devoid of economic and social added value; calls for EIB funding to be concentrated exclusively on projects that can be shown to be financially and environmentally sustainable and economically and socially useful;
Amendment 6 #
Draft opinion Paragraph 2 2. Welcomes the cooperation between the EIB and
Amendment 7 #
Draft opinion Paragraph 2 2. Welcomes the cooperation between the EIB and National Promotional Banks and Institutions (NPBIs), notably in the framework of the EFSI, in view of their special skills and knowledge in the field of SME financing; recalls the need of full transparency and prioritisation of result- orientation with regard to NPBIs' involvement in EFSI projects
Amendment 8 #
Draft opinion Paragraph 2 2. Welcomes the cooperation between the EIB and National Promotional Banks and
Amendment 9 #
Draft opinion Paragraph 2 a (new) 2a. Emphasises that SMEs are the backbone of the European economy and should remain the principal target of the EIB lending activities by enforcing instruments such as the SME Trade Finance Facility or tailor-made financial solutions such as the InnovFin SME Guarantee Facility;
source: 572.845
2015/11/30
CONT
70 amendments...
Amendment 1 #
Motion for a resolution Recital A A. whereas the core task of the EIB, as the EU’s bank, is to support financially projects in the interest of the Union that contribute to the balanced development of the internal market and to social, economic and territorial cohesion, and thus to strengthening European integration, in addition to employment, and it is therefore extremely important for boosting the competitiveness of the Union;
Amendment 10 #
Motion for a resolution Paragraph 1 1. Welcomes the EIB’s Annual Reports for 2014 and its achievements presented in them, and strongly encourages the EIB to redouble its efforts to materially contribute to curbing the current atonic economic environment and investment shortfall of roughly EUR 300 billion;
Amendment 11 #
Motion for a resolution Paragraph 2 2. Welcomes, in particular, the fact that in 2014 the EIB signed contracts for 413 projects within the EU worth EUR 69 billion and 92 new projects outside the EU for a total of EUR 7.98 billion; also welcomes the fact that in the same year the EIF committed EUR 3.3 billion through its equity and guarantee activities for the benefit of smaller businesses, thus registering the successful implementation of one of the EIB’s most ambitious business plans, with a total of EUR 80.3 billion in EIB Group financing; welcomes the fact that the volume of loans granted by the EIB is at its highest level since 2009; endorses the EUR 10 billion increase in the EIB’s capital agreed by all the Member States in 2012;
Amendment 12 #
Motion for a resolution Paragraph 2 2. Welcomes, in particular, the fact that in 2014 the EIB funded 285 000 small and medium-sized enterprises, thus safeguarding 3.6 million jobs, and signed contracts for a total of 413 projects within the EU worth EUR 69 billion and 92 new projects outside the EU for a total of EUR 7.98 billion; also welcomes the fact that in the same year the EIF committed EUR 3.3 billion through its equity and guarantee activities for the benefit of smaller businesses, thus registering the successful implementation of one of the EIB’s most ambitious business plans, with a total of EUR 80.3 billion in EIB Group financing;
Amendment 13 #
Motion for a resolution Paragraph 3 Amendment 14 #
Motion for a resolution Paragraph 3 3. Observes, however, that in 2014 59,4 % of all EIB-signed projects were allocated to the top five EU economies (Germany, the UK, France, Italy and Spain), while the share of the other 23 Member States stood at only 30.3 %; is deeply concerned, given the intensity of both the current and the long-term challenges facing the Union, that significant discrepancies in lending as between Member States are continuing to persist; calls for an increased focus on projects in Greece and Cyprus, as these two countries accounted for only 5% of all EIB-funded projects and have been particularly hard hit by the financial crisis;
Amendment 15 #
Motion for a resolution Paragraph 3 a (new) 3a. Calls on the EIB to provide increased technical support at pre-approval stage for Member States that have a lower success rate for project approval and encourages the EIB to facilitate exchanges of best practice between Member States in relation to successful project development;
Amendment 16 #
Motion for a resolution Paragraph 4 4. Points out that operations, while taking account of the availability of funds, must be targeted to generating investments that enhance economic recovery and productive employment, accompanied by consistent support to Member States aimed at increasing absorption capacities where necessary, as well as by a continuous commitment to avoiding the risk of territorial fragmentation; points out that an increase in the EIB’s capital would be needed to address the investment shortfall;
Amendment 17 #
Motion for a resolution Paragraph 5 5. Notes that insufficient project generation capacity in the public and private sectors and low levels of borrowing capacity in some Member States, in conjunction with current market conditions, present significant challenges to the EIB’s lending programme; urges the EIB, therefore, to substantially step up its technical assistance and financial advice in all key areas of activity, on an easily accessible basis and vis-à-vis all Member States, in order to attain a much higher level of growth- generating capacity; calls, in particular, for funding to be channelled towards projects which enhance Europe’s competitiveness;
Amendment 18 #
Motion for a resolution Paragraph 7 7. Invites the EIB, when assessing and rating projects, to give decisive priority to the long-term effect of investments, regarding not simply financial indicators but, and above all, their contribution to sustainable
Amendment 19 #
Motion for a resolution Paragraph 7 a (new) 7a. Emphasises that project funding approval should be based on adequate financial and risk analysis, financial viability and sound budgetary management; considers that projects approved for EIB funding should offer a clear added-value to the European economy;
Amendment 2 #
Motion for a resolution Recital B B. whereas all EIB-financed activities must be
Amendment 20 #
Motion for a resolution Paragraph 8 8. Regrets that there is no information presented in the 3PA Report, whether based on 3PA or other relevant tools, about actual results achieved from operations executed inside the EU in 2014 (in contrast to results achieved outside the EU), despite the fact that the 3PA is designed with the specific purpose of enhancing the EIB’s ability to monitor implementation by tracking impacts throughout the project cycle; expects that, as a result of the ongoing harmonisation between 3PA and ReM, a new harmonised framework, better fitted for the ex post assessment and reporting of project results both inside and outside the EU and fully in line with the Scoreboard for EFSI operations, will be in place at the beginning of 2016 and will be used for the 2015 EIB reporting exercise; calls for the individual projects assessments to be published on systematic basis;
Amendment 21 #
Motion for a resolution Paragraph 10 10. Considers, however, that the presentation of the EIB’s activities in the 2014 Activity Report is not fully consistent with the PPGs for 2014; regrets, furthermore, the lack of information on the results achieved by the different EIB financial instruments and initiatives that were in place in 2014; recommends that, in communicating information about its activities, the EIB should focus not primarily on the volume of investments made but rather on their effect;
Amendment 22 #
Motion for a resolution Paragraph 13 13. Welcomes the implementation in 2014 of the EIB initiative ‘Skills and Jobs – Investing for Youth’, and encourages the EIB to continue investing in education, skills development and jobs for young people, women and disadvantaged groups; calls on the EIB to report comprehensively on the results achieved by its Investing for Youth initiative;
Amendment 23 #
Motion for a resolution Paragraph 13 13. Welcomes the implementation in 2014 of the EIB initiative ‘Skills and Jobs – Investing for Youth’, and encourages the EIB to continue investing in education, skills development and jobs for young people; calls on the EIB to report comprehensively on the results achieved by its Investing for Youth initiative, including through the use of an indicator such as sustainable employment resulting from specific operations;
Amendment 24 #
Motion for a resolution Paragraph 13 13. Welcomes the implementation in 2014 of the EIB initiative ‘Skills and Jobs – Investing for Youth’, and encourages the EIB to continue investing in education, skills development and jobs for young people; calls on the EIB to report comprehensively on the results achieved by its Investing for Youth initiative; stresses, moreover, the need to increase lending to fund research and innovation projects and the importance of strengthening support instruments for micro, small and medium-sized enterprises and for innovative start-ups;
Amendment 25 #
Motion for a resolution Paragraph 16 16. Notes the EIF’s capital increase of EUR 1.5 billion in 2014, and its record investment in providing risk finance for SMEs amounting to EUR 3.3 billion, which leveraged EUR 14 billion of capital; calls for a comprehensive and transparent overview of the EIF’s operations to be included in the EIB Annual Report;
Amendment 26 #
Motion for a resolution Paragraph 17 a (new) 17a. Notes that SMEs in many parts of Europe face extreme difficulties accessing necessary finance; in this sense, welcomes the greater emphasis the EIB is placing on supporting SMEs; emphasises the importance of the EIB in facilitating partnerships for funding SME activity; furthermore, calls on the EIB to cooperate more closely with regional public institutions with a view to optimising the financing possibilities for SMEs;
Amendment 27 #
Motion for a resolution Paragraph 20 a (new) 20a. Calls for checks to be carried out to determine the extent to which projects in beneficiary countries take account of international and regional climate agreements and the extent to which these beneficiary countries are honouring their undertakings to combat climate change, or have shown a willingness to give binding undertakings; calls, further, for efforts to combat climate change to be added as a criterion governing the award of EIB funding for environmental projects in developing countries;
Amendment 28 #
Motion for a resolution Paragraph 21 21. Takes note that EIB support for renewable energy capacity development in 2014 was concentrated for the most part in just a few countries, with only EUR 42 million out of EUR 4.5 billion for renewable energy projects in the EU-28 being spent in relatively new Member States; adds that a similar concentration is observed in the energy efficiency sector, where out of EUR 2 billion only EUR 148
Amendment 29 #
Motion for a resolution Paragraph 21 21. Takes note that EIB support for renewable energy capacity development in 2014 was concentrated for the most part in just a few countries (France, Germany, UK, Italy, Spain), with only EUR 42 million out of EUR 4.5 billion for renewable energy projects in the EU-28 being spent in
Amendment 3 #
Motion for a resolution Recital E E. whereas since 2008
Amendment 30 #
Motion for a resolution Paragraph 21 21. Takes note that EIB support for renewable energy capacity development in 2014 was concentrated for the most part in just a few countries, with only EUR 42 million out of EUR 4.5 billion for renewable energy projects in the EU-28 being spent in relatively new Member States; adds that a similar concentration is observed in the energy efficiency sector, where out of EUR 2 billion only EUR 148 million was allocated to relatively new Member States; calls on the EIB not to fund non-renewable energy generation projects and to look into the feasibility of discontinuing loans to those already approved;
Amendment 31 #
Motion for a resolution Paragraph 21 a (new) 21а. Points out, too, that the financing granted to projects in non-EU countries exceeded the volume of lending in the new Member States;
Amendment 32 #
Motion for a resolution Paragraph 22 22. Welcomes the launch in 2014 of new innovative instruments to support climate action, such as the Private Finance for Energy Efficiency instrument and the Natural Capital Financing Facility, and expects the EIB to
Amendment 33 #
Motion for a resolution Paragraph 23 23. Encourages the EIB’s commitment to support initiatives helping the EU both to stay a front-runner and to fulfil its own long-standing carbon market ambitions within the context of the Climate and Energy Policy Framework 2030, the Low Carbon Strategy 2050, and the UN climate talks for defining a new global agreement; calls for a review of the share of the EIB investments in Climate Action, as the 25 % share has already been reached.
Amendment 34 #
Motion for a resolution Paragraph 24 24. Notes the momentum towards the development of the green bonds market and the leading role of the EIB with its own green bonds and climate awareness bonds, witnessing investor’s interest in financial products dedicated to sustainable, low-carbon and climate-resilient growth; Calls the EIB to review its emissions performance standard in 2016 in the light of the EU 2050 Low Carbon Strategy;
Amendment 35 #
Motion for a resolution Paragraph 25 25. Welcomes the publication in September 2015 of the EIB Climate Strategy - Mobilising finance for the transition to a low-carbon and climate- resilient economy, and of the Synthesis Report on Operations Evaluation of EIB Financing of Climate Action (mitigation) within the EU 2010-2014; calls for the Specific Measurable Attainable Realistic and Timely (SMART) approach to be applied in the specific action plans following the EIB Climate Strategy by 2017.
Amendment 36 #
Motion for a resolution Paragraph 29 29. Stresses that investment in sustainable infrastructure projects is key to improving competitiveness and restoring growth and jobs in Europe; calls, therefore, for EIB financing to be deployed towards the areas most affected by high unemployment, and for more social infrastructure projects;
Amendment 37 #
Motion for a resolution Paragraph 29 29. Stresses that investment in sustainable infrastructure projects is key to improving competitiveness and restoring growth and jobs in Europe; calls, therefore, for EIB financing to be deployed towards the areas most affected by high unemployment, and for more social infrastructure projects; emphasises that EIB financing should focus primarily on those countries which are lagging behind in terms of infrastructure quality and development; finds it regrettable that the EIB has funded major infrastructure projects with a high environmental impact, which have proven to be financially unsustainable and devoid of economic and social added value; calls for EIB funding to be concentrated exclusively on projects that can be shown to be financially and environmentally sustainable and economically and socially useful;
Amendment 38 #
Motion for a resolution Paragraph 29 a (new) 29a. Regrets that hitherto, in numerous cases, EIB financing has been used to support a range of financially unsustainable infrastructure projects, with regard to both public interest and climate-related measures; notes with concern the tendency to finance infrastructure such as motorways, which encourage fossil fuel consumption and therefore run counter to the Union’s long-term objectives of moving towards a carbon-free economy; calls on the EIB to include a compulsory ex ante assessment of environmental, economic and social added value in the process for selecting projects to be funded inside and outside the EU and for all ex ante and ex post assessments to be carried out with the active involvement of stakeholders, local, regional and national authorities and civil society representatives; calls, in addition, for the results of such assessments and the indicators used to be made public and to be fully accessible;
Amendment 39 #
Motion for a resolution Paragraph 29 b (new) 29b. Recalls, in this regard, the Castor project in Spain, whereby Spanish citizens were forced to reimburse EUR 1.4 billion after the project failed; is concerned that the EIB has provided a total of EUR 700 million in funding for the completion of the Brescia-Bergamo-Milan motorway and points out that the project was based on over-optimistic toll revenue forecasts which subsequently proved inaccurate, resulting in public money being spent on ensuring that the private operators involved could make a profit;
Amendment 4 #
Motion for a resolution Recital G G. whereas under the present circumstances a qualitatively new degree of urgency now characterises the central role of the EIB for the effective implementation of the Investment Plan for Europe and for the efficient operation of the European Fund for Strategic Investments (EFSI), as the principal vehicle for boosting growth
Amendment 40 #
Motion for a resolution Paragraph 29 c (new) 29c. Stresses that the financing of major projects often facilitates infiltration by companies linked to organised crime; criticises the fact that the EIB has provided funding for the ‘Passante di Mestre’ motorway bypass, which is the subject of tax fraud investigations; notes with concern that the EIB has not responded to the requests in this regard set out in the report on the Annual Report 2013 on the Protection of the EU’s Financial Interests - Fight against fraud; calls on the EIB, once again, to suspend all forms of funding for the project;
Amendment 41 #
Motion for a resolution Paragraph 29 d (new) 29d. Notes with concern that the EIB has provided funding of some EUR 300 million for the construction of line 4 of the Milan metro, a project in respect of which five disqualification orders have been issued by the Italian judicial authorities on grounds of mafia infiltration of subcontractors; calls once again on the EIB not to use the Project Bond Initiative or any other financial instrument to fund activities infiltrated by organised crime and to suspend, as a preventive measure, the funding for such projects;
Amendment 42 #
Motion for a resolution Paragraph 29 e (new) 29e. Calls on the EIB not to provide funding for the construction of the Brescia-Verona high-speed rail link, should the Italian Government apply for it, given that it is financially and environmentally unsustainable;
Amendment 43 #
Motion for a resolution Paragraph 31 31. Expects that the goals for EFSI will be consistent with the EIB’s PPGs and that the levels of EIB investments for 2016 will be adapted to reflect EFSI operations as well; criticises the fact that the list of projects to be funded under the EFSI includes infrastructures with a major impact on the environment such as biorefineries, steelworks and regasification and gas storage plants;
Amendment 44 #
Motion for a resolution Paragraph 33 33. Recognises the challenges involved in creating and swiftly making operational an EFSI pipeline of strategic projects; welcomes the setting-up by the EIB of the European investment advisory hub, which aims to provide technical assistance and expertise to potential promoters; expects the technical assistance mechanism to work effectively at local and regional level;
Amendment 45 #
Motion for a resolution Paragraph 33 33. Recognises the challenges involved in creating and swiftly making operational an EFSI pipeline of strategic projects; welcomes the setting-up by the EIB of the European investment advisory hub, which aims to provide technical assistance and expertise to potential promoters; calls for comprehensive project reporting which also encompasses information on the activities and contributions of institutional investors;
Amendment 46 #
Motion for a resolution Paragraph 34 34. Recommends closer cooperation between the EIB and national promotional banks, financial institutions and investment platforms, in order to pool and share expertise and know-how as well as to better align EIB actions with Member States’ policy priorities; recommends an even higher level of transparency of the EFSI operations by close co-operation and overview of the European Parliament and the European Court of Auditors;
Amendment 47 #
Motion for a resolution Paragraph 34 a (new) 34a. Is extremely concerned at the fact that the EIB is considering the possibility of funding the Turin-Lyon high-speed rail link under the EFSI, despite the project being excessively costly, unnecessary and economically, socially and environmentally unsustainable;
Amendment 48 #
Motion for a resolution Paragraph 34 a (new) 34a. Calls on the EIB to ensure that the EFSI is not indirectly used as a means of increasing the EIB’s capital and that no additional competition is created with private funding schemes;
Amendment 49 #
Motion for a resolution Paragraph 34 b (new) 34b. Calls on the EIB regularly to review its involvement in the EFSI and to show that the conditions laid down in Article 5(1) of Regulation (EU) 2015/1017 have been met and, in particular, that private funding sources are not being crowded out;
Amendment 5 #
Motion for a resolution Recital H a (new) Ha. whereas in 2014 the EIF supported 175 000 enterprises throughout Europe and had a stake in 74 private equity funds;
Amendment 50 #
Motion for a resolution Paragraph 35 35. Considers that the Project Bonds Initiative (PBI) should be seriously assessed with regard to its financial, social and environmental impact; urges the Commission to set up an inclusive and open consultation process at EU level, with the active participation of representatives from the European Parliament, on the future of project bonds for the period 2016- 2020 before the current PBI pilot phase is fully rolled out;
Amendment 51 #
Motion for a resolution Paragraph 37 37. Encourages the Bank to develop and deploy the necessary comprehensive approach in response to the severe challenges generated by the flow of migrants to Europe, including enhanced operations in countries of origin of such flows as well as in countries which border directly on countries of origin; calls on the EIB, when granting funding for projects in crisis countries, to focus on those which are designed to eliminate incentives to flee and to step up its activities in that area;
Amendment 52 #
Motion for a resolution Paragraph 38 38. Points out that the EIB is an important actor for promoting EU foreign policy priorities and objectives; recommends enhanced coordination and cooperation between the EIB and the external policy services and instruments of the EU; calls for a systematic ex-ante and ex-post assessments of economic, social and environmental impact of the EIB supported projects against EEAS goals and the general principles guiding Union external action as referred to in Article 21 TEU and the EU Strategic Framework and Action plan for Human Rights;
Amendment 53 #
Motion for a resolution Paragraph 40 40. Underlines the importance accorded by the EIB to its policy of zero tolerance of fraud, corruption and collusion and its commitment to strong integrity and ethical rules; welcomes, in this regard, the EIB Group Annual Report on Anti-Fraud Activities – 2014; expects that the EIB stops further loan disbursements to projects under ongoing national or European corruption investigations;
Amendment 54 #
Motion for a resolution Paragraph 40 40. Underlines the importance accorded by the EIB to its policy of zero tolerance of fraud, corruption and collusion and its commitment to strong integrity and ethical rules; welcomes, in this regard, the approval by the EIB Board of an updated anti-fraud policy and the EIB Group Annual Report on Anti-Fraud Activities – 2014;
Amendment 55 #
Motion for a resolution Paragraph 41 41. Welcomes the adoption of a revised EIB Group Anti-Money Laundering and Combating the Financing of Terrorism Framework (AML-CFT) in July 2014;
Amendment 56 #
Motion for a resolution Paragraph 41 a (new) 41a. Calls for the adoption of a responsible fiscal policy requiring all beneficiaries of EIB financing, whether corporations or financial intermediaries, to include in their annual audited reports information about their sales, assets, employees, profits and tax payments in each country in which they operate; notes in addition that beneficiaries must be required to disclose details of contracts with host governments and, in particular, the fiscal arrangements applicable to them in each country in which they operate; calls on the EIB to ensure, with regard to its financial operations, that that all beneficiary companies and financial institutions disclose information regarding effective ownership of any legal structure directly or indirectly related to them, including trusts, foundations and bank accounts;
Amendment 57 #
Motion for a resolution Paragraph 42 42. Takes note of the report on the implementation of the EIB’s transparency policy in 2014; regrets that the EIB was placed 16th out of 17 multilateral organisations in the 2014 Aid Transparency Index (ITA) rankings; insists on the need to achieve the highest levels of transparency and institutional accountability by ensuring the proactive public disclosure of exhaustive and sound budgetary information and access to financial data related to projects funded by the EIB; calls for public disclosure by the EIB of documents relating to internal investigations, reporting and audits if they concern matters of public interest and if the inquiries have been closed, in line with EU legislation and the case-law of the Court of Justice of the European Communities, as well as the findings of internal investigations into all projects tainted by mafia infiltration, tax fraud and corruption and, in any case, to make this information available to Parliament; calls on the EIB to disclose and make available all information regarding its decisions, the results achieved and the impact of its lending activities inside and outside the EU and to keep Parliament systematically informed about cases arising, including those regarded as most sensitive;
Amendment 58 #
Motion for a resolution Paragraph 42 a (new) 42a. Calls for maximum transparency and publicity regarding the system of contracts and subcontracts and for the European Parliament to be given access to information and financial documentation in every case;
Amendment 59 #
Motion for a resolution Paragraph 44 44. Reiterates that the EIB should reinforce its due diligence activities so as to improve the quality of information on ultimate beneficiaries and to prevent transactions with financial intermediaries with a negative record in terms of transparency, fraud, corruption, or
Amendment 6 #
Motion for a resolution Recital I a (new) Ia. whereas for the first time the EIB has been issued with a risk enhancement mandate with a view to reviving the SME securitisation market;
Amendment 60 #
Motion for a resolution Paragraph 45 45. Calls on the EIB to develop clear, strict and transparent criteria for public-private partnerships receiving funding, in order to insure that not only the investment part of the projects are fairly shared by both public and private partners but also are the risks involved in the investments so as to safeguard the public interest;
Amendment 61 #
Motion for a resolution Paragraph 45 45. Calls on the EIB to develop
Amendment 62 #
Motion for a resolution Paragraph 46 46. Recommends publication on the EIB website of documents which are not confidential, such as Corporative Operational Plans for previous years, interinstitutional agreements and
Amendment 63 #
Motion for a resolution Paragraph 46 46. Recommends publication on the EIB website of documents which are not confidential, such as Corporative Operational Plans for previous years, interinstitutional agreements and memorandums, and other relevant agreements, as well as substantive information on the meetings of the EIB managing bodies; better public access to documents is a key element of transparency, accountability and integrity of the institution;
Amendment 64 #
Motion for a resolution Paragraph 46 46. Recommends publication on the EIB website of documents which are not confidential, such as Corporative Operational Plans for previous years, interinstitutional agreements and memorandums, and other relevant
Amendment 65 #
Motion for a resolution Paragraph 47 47. Welcomes the process of reviewing the EIB Complaints Mechanism policy
Amendment 66 #
Motion for a resolution Paragraph 48 a (new) 48a. Considers that EIB Annual Reports should devote a greater focus to the outcomes of projects completed; in this context, calls on the EIB, in conjunction with project partners, to produce a set of results from each project completed which assesses the effectiveness of EIB funding;
Amendment 67 #
Motion for a resolution Paragraph 49 49. Notes the expiry, on 27 October 2015, of the Tripartite Agreement mentioned in Article 287(3) TFEU, governing cooperation between the EIB, the Commission and the Court of Auditors with respect to the control methods exercised by the Court regarding the EIB’s activity in managing Union and Member State funds; calls on the three institutions to cooperate in the process of renewal and updating of this agreement, and to ensure that the renewed agreement covers any new EIB instruments or initiatives involving public funds from the EU or the European Development Fund; calls on the Commission in this connection to give increased powers to the European Court of Auditors, which should actively assess EIB lending performance where directly relating to the use of EU budget appropriations;
Amendment 68 #
Motion for a resolution Paragraph 49 49. Notes the expiry, on 27 October 2015, of the Tripartite Agreement mentioned in Article 287(3) TFEU, governing cooperation between the EIB, the Commission and the Court of Auditors with respect to the control methods exercised by the Court regarding the EIB’s activity in managing Union and Member State funds; calls on the three institutions to cooperate in the process of renewal and updating of this agreement, and to ensure that the renewed agreement covers the already existing and any new EIB instruments or initiatives involving public funds from the EU or the European Development Fund; calls for a much more thorough evaluation and reporting of the EIB instruments or initiatives done by the European Court of Auditors;
Amendment 69 #
Motion for a resolution Paragraph 51 51. Encourages the efforts being made by the parties involved to draw up an Interinstitutional Agreement between the European Parliament and the EIB, providing for enhanced cooperation between the two institutions
Amendment 7 #
Motion for a resolution Recital J J. whereas EIB financing of operations outside the EU is designed to support the EU’s external policy objectives, in line with Union values and on a basis of respect for sustainable social and environmental standards; whereas this applies in particular to projects which, in the context of the refugee and migration crisis, are designed to give people more reasons to stay where they are;
Amendment 70 #
Motion for a resolution Paragraph 51 a (new) 51a. Calls on the EIB to enhance the independence and effectiveness of the current complaints mechanism during the review of its procedures in 2016; believes that the Ombudsman should be more active in exercising external scrutiny over the EIB through a new Memorandum of Understanding between the EIB and the actual European Ombudsman to improve monitoring procedures and further democratise the EIB;
Amendment 8 #
Motion for a resolution Recital K K. whereas the scale and complexity of the tasks facing the EIB at present call for a renewed commitment to strictly avoiding the funding of projects that violate the basic standards of sound financial management
Amendment 9 #
Motion for a resolution Paragraph 1 1. Welcomes the EIB’s Annual Reports for 2014 and its achievements presented in them, and strongly encourages the EIB to
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