2017/2190(INI) | [ParlTrack]

Draft opinion
Paragraph 1

1. Recalls that 10 % of the EIB’s overall lending activity is dedicated to operations outside the Union; stresses, for this reason, the importance of the annual reporting by the EIB on its operations outside of the Union with regard to compliance with the general principles guiding the external action of the Union; calls on the EIB to ensure that all financed projects are in accordance with the general principles guiding the Union's external action in its capacity of financial arm of the EU; underlines that the EIB should properly take in consideration the EU trade strategy, including the existing and future trade agreements in supporting the EU businesses abroad, prioritising the countries having trade agreements with the EU or currently negotiating such agreements.

Amendment 10 #

Draft opinion
Paragraph 3

3. Highlights that access to finance ~~is one of the main hurdles SMEs face; believes that~~and internationalization are important hurdles for SMEs; notes that 33.7 billion euros were allocated during the concerned period supporting 300 000 SMEs; believes that, despite having taken the right direction, more must be done by the EIB to ensure that SME finance is geared at ensuring that these firms can integrate into global ~~supply~~value chains; notes that the EIB must support EU enterprises who want to do business abroad, including via the Trade Finance Facility;

Amendment 11 #

Draft opinion
Paragraph 3

3. Highlights that access to finance is one of the main hurdles SMEs face; ~~believes that more must be done by the EIB to ensure that SME finance is geared at ensuring that these firms can~~underlines that the SMEs represents the backbone of the European economy; believes that more must be done by the EIB to ensure an easier and effective access of the SMEs to funding, in order for these firms to be able to integrate into global supply chains; notes that the EIB must support EU enterprises who want to do business abroad, including via the Trade Finance Facility;

Amendment 12 #

Draft opinion
Paragraph 4

4. Notes that there has been a lack of foreign direct investment (FDI) support operations towards Asia in the last few years; stresses that EU investors should have a greater presence on the Chinese market and benefit from a level playing field; calls on the EIB to provide direct financing to EU companies in support of outward investment, including through the external lending mandate (ELM);deleted

Amendment 13 #

Draft opinion
Paragraph 4

4. Notes that there has been a lack of foreign direct investment (FDI) support operations towards Asia in the last few years; calls on the EIB to get involved into the implementation of the Belt and Road strategy to improve trade flows and economic cooperation throughout the Eurasian continent, and to share its much advanced expertise concerning social and environmental impact assessments of projects in the respective cooperation with other public investment banks; stresses that EU investors should have a greater presence on the Chinese and other Asian markets and benefit from a level playing field~~; calls on the EIB to provide direct financing to EU companies in support of outward investment~~, while pointing out that the EIB financial means may not be used to provide for unfair advantages for EU based companies; calls on the EIB to increase its support to EU companies outward investment in the more risk- intensive regions and Least Developed Countries, including through the external lending mandate (ELM);

Amendment 14 #

Draft opinion
Paragraph 4

4. Notes that there has been a lack of foreign direct investment (FDI) support operations towards Asia in the last few years; stresses that EU investors should have a greater presence on the Chinese, Indian and ASEAN markets and benefit from a level playing field; calls on the EIB to provide direct financing to EU companies in support of outward investment, including through the external lending mandate (ELM);

Amendment 15 #

Draft opinion
Paragraph 4

4. Notes that there has been a lack of foreign direct investment (FDI) support operations towards Asia in the last few years; stresses that EU investors, with a particular focus on SMEs, should have a greater presence on the Chinese market and benefit from a level playing field; calls on the EIB to provide direct financing to EU companies in support of outward investment, including through the external lending mandate (ELM);

Amendment 16 #

Draft opinion
Paragraph 4 a (new)

4a. Points out that the countries in the European Neighborhood and the ACP countries should have priority access to EIB investment projects; deplores the fact, therefore, that Africa is the area of the world which received the smallest financial package in 2016; calls for this trend to be reversed in the coming years;

Amendment 17 #

Draft opinion
Paragraph 4 b (new)

4b. Draws attention to the effectiveness of the Investment Facility launched in 2003 under the Cotonou Agreements, and calls for an instrument of this kind to be kept following the renegotiation of the agreements binding the European Union to its ACP partners in 2020;

Amendment 18 #

Draft opinion
Paragraph 5

5. Welcomes the role of the EIB in local private sector development and its support for microfinance, and recognises that its activities offer new economic and trade opportunities; underlines the necessity for a proper and efficient adaptation of EIB activities to current international challenges; in this respect, calls for an expansion of the EIB ELM, with a view to increasing its role in achieving sustainable development and providing a strategic response to address the root causes of migration, ~~and for it to take a more active part in the new private sector strategy;~~including the strengthening of humanitarian action and providing support for economic growth, the construction of infrastructure and job creation and for it to take a more active part in the new private sector strategy; reiterates that the EIB must align its activities with the UN's 2030 Sustainable Developments Goals.

Amendment 19 #

Draft opinion
Paragraph 5

5. Welcomes the role of the EIB in local private sector development and its support for microfinance, and recogniszes that its activities ~~offer~~should contribute to develop new economic and trade opportunities for SMEs, in particular in developing countries; calls for an expansion of the EIB ELM, with a view to increasing its role in achieving sustainable development and providing a strategic response to address the root causes of migration, and for it to take a more active part in the ~~new private sector strategy~~EU's Africa strategy; calls on the EIB in this regard to get more involved into projects for the infrastructure needed to promote local and regional trade routes, as contribution to meet the Agenda 2030 targets regarding the SDGs, as well as actively contributing to the implementation of the WTO Trade Facilitation Agreement;

Amendment 2 #

Draft opinion
Paragraph 1

1. Recalls that 10 % of the EIB’s overall lending activity is dedicated to operations outside the Union; stresses, for this reason, the importance of the annual reporting by the EIB on its operations outside of the Union with regard to compliance with the Sustainable Development Goals and the general principles guiding the external action of the Union by specifically strengthening humanitarian action, supporting the creation of decent jobs and education, ensuring full respect for human, labour and environmental rights, promoting gender equality, equal pay and pay transparency;

Amendment 20 #

Draft opinion
Paragraph 5 a (new)

5 a. Notes that in 2016, the EIB approved three new facilities for microfinance, one for the Caribbean, one for the Pacific and two of them for Africa, for a total amount of 110 million euros and one for the Southern Neighbourhood with 75 million euros; recalls that the EIB microfinance facilities and technical assistance have brought 300 million euros to more than 1.5 million beneficiaries; calls on the EIB to include in its next report the leverage effects of these facilities together with the funds allocated through the external action financial instruments;

Amendment 21 #

Draft opinion
Paragraph 5 a (new)

5 a. Takes note of the fact that in 2016 half of all lending operations of the EIB under the ELM went to local financial intermediaries, with the goal to boost micro-credits; calls on the EIB to conduct a gender evaluation of the on-lending of financial intermediaries, given that micro- credits are mostly directed to women entrepreneurs;

Amendment 22 #

Draft opinion
Paragraph 5 a (new)

5a. Takes the view that the EIB must boost its capacity to take on and guarantee risks, in particular as regards projects to develop and strengthen the private sector, and those which are part of the Economic Resilience Initiative;

Amendment 23 #

Draft opinion
Paragraph 5 a (new)

5 a. Underlines the importance and necessity of the EIB's financing activity in areas of infrastructure, transport and digitalization, as these areas have a positive impact over the EU's trade potential and foster the internalisation of SMEs.

Amendment 24 #

Draft opinion
Paragraph 5 b (new)

5 b. Calls on the EIB to foster the financing of projects in alignment with its climate strategy, in order to strengthen the EU’s position as a leader in the climate field and achieve a more competitive, secure and sustainable energy system in line with the 2030 Energy Strategy;

Amendment 25 #

Draft opinion
Paragraph 6

6. Calls on the EIB to improve access to information regarding the system of contracts and subcontracts, and the financial data concerning projects financed by the EIB as well as their compliance with SDGs; calls on the EIB to report to the European Parliament any reallocation of funds, together with an impact assessment and a justification report; stresses the importance of an inclusive decision making process with the participation of relevant stakeholders and civil society organizations.

Amendment 26 #

Draft opinion
Paragraph 6

6. Calls on the EIB to improve access to information regarding the system of contracts and subcontracts, and the financial data concerning projects financed by the EIB.; asks the EIB specifically to supply better and more systematic information with regard to the on- lending by its financial intermediaries which in 2016, under the ELM, accounted for half of all EIB operations;

Amendment 27 #

Draft opinion
Paragraph 6 a (new)

6 a. In the context of the signature of the Paris Agreement, welcomes the EIB's objectives to target 35% of its operations in developing countries towards climate action; highlights that in 2018 the EIB will review its Energy Lending Criteria; in this regard, calls on the EIB to further align its financing with the Paris Agreement by phasing out its support to fossil fuels and reinforcing its efforts to target small-scale renewable energy projects collectively owned by citizen, and energy efficiency;

Amendment 28 #

Draft opinion
Paragraph 6 a (new)

6a. Takes the view that exchanges between the EIB and Parliament concerning investments outside the EU should be more intensive and regular wiht the aim of enhancing the effectiveness of parliamentary scrutiny and transparency;

Amendment 29 #

Draft opinion
Paragraph 6 b (new)

6 b. Welcomes the intention of the EIB to review its tax havens policy (NCJ, Non- Compliant Jurisdictions, i.e. countries not aligned to international standards in connection with targeted activities) in 2018; reminds the EIB that it needs to act in coherence with its development mandate under the ELM to ensure that investments in developing countries are bringing the due revenues to local tax authorities; encourages the EIB to go beyond the legally binding EU black list with regard to NCJs which should be exclude from lending operations;

Amendment 3 #

Draft opinion
Paragraph 1

Amendment 4 #

Draft opinion
Paragraph 1

1. Recalls that 10 % of the EIB’s overall lending activity is dedicated to operations outside the Union, and welcomes the fact that the overall amount being offered by the EIB to project promoters outside the EU has gone up since 2015; stresses, for this reason, the importance of the annual reporting by the EIB on its operations outside of the Union with regard to compliance with the general principles guiding the external action of the Union;

Amendment 5 #

Draft opinion
Paragraph 1

Amendment 6 #

Draft opinion
Paragraph 1

Amendment 7 #

Draft opinion
Paragraph 1 a (new)

1 a. Calls on the EIB to develop a methodology, in cooperation with the EEAS and DG DEVCO, in measuring the impact of its lending operations outside the EU on the overall EU development cooperation, specifically regarding the UN Agenda 2030 and the impact on human rights;

Amendment 8 #

Draft opinion
Paragraph 2 a (new)

2 a. Calls on the EIB to refrain from financing projects involving heavily polluting and out-dated technologies, in particular when facilitating investment in the energy sector, including in EU candidate countries; calls on the EIB to alarm Member States and the European Parliament, when other investors take over once the EIB has pulled out of a project after its own SIA has raised serious environmental or social concerns; encourages the EIB to become through its careful selection of projects a key instrument of the EU in the global joint effort to tackle climate change and to support sustainable development and should be even more ambitious in this area; calls on the EIB to increase its lending to public infrastructure projects mitigating the consequences of climate change such as floods;

Amendment 9 #

Draft opinion
Paragraph 2 a (new)

2a. Supports the stepping-up of partnerships between the EIB and the Member States' development agencies, and projects carried out jointly by the EIB and other Multilateral Development Banks (MDBs), in particular when the purpose of these projects is to help meet the UN's Sustainable Development Goals;

source: 616.813

2018/02/07 CONT 72 amendments...

Amendment 1 #

Motion for a resolution
Recital A

A. whereas the EIB is the EU Bank as laid out in Articles 308 and 309 of the TFEU, being the largest multilateral bank and the biggest public lender in the world operating in international capital markets;

Amendment 10 #

Motion for a resolution
Paragraph 3

3. Invites the EIB to pursue efforts in that direction by providing policymakers with complete and exhaustive information on the concrete ~~and achieved~~ economic, social and environmental impacts and added value and on results achieved of its operations in the Member States and outside the EU; stresses the importance of carrying out, for each project, an independent ex-ante and ex-post evaluation; calls on the EIB to provide detailed examples of crossnational added value in its impact investment reporting as well as key-indicators of sectoral and intersectoral successes;

Amendment 11 #

Motion for a resolution
Paragraph 3

3. Invites the EIB to pursue efforts in that direction by providing policymakers with complete and exhaustive information on the concrete and achieved economic, social and environmental impacts and added value of its operations in the Member States and outside the EU; stresses the importance of carrying out, for each project, an independent ex-ante and ex-post evaluation; calls on the EIB to provide detailed examples of crossnational added value in its impact investment reporting as well as key-indicators of sectoral and intersectoral successes; calls on the EIB to forward the results of the ex-post evaluations to the European Parliament;

Amendment 12 #

Motion for a resolution
Paragraph 4

4. Recalls that activities benefiting from EIB support must be in accordance with the Bank’s core task according to the TFEU, with the principles of the EU’s policy goals as outlined in the Europe 2020 strategy and the COP21 agreement; underlines therefore that the EIB’s mission is to revitalise the European economy in order to stimulate quality jobs and support smart, inclusive and sustainable growth in the Union, as well as greater cohesion necessary for reversing increasing inequalities both within and between Member States;

Amendment 13 #

Motion for a resolution
Paragraph 4

4. Recalls that activities benefiting from EIB support must be in accordance with the principles of the EU’s policy goals as outlined in the Europe 2020 strategy and the COP21 agreement; underlines therefore that the EIB’s mission is to revitalise the European economy in order to stimulate quality jobs and support smart, inclusive and sustainable growth in the Union; hopes, to this end, to that ever closer collaboration between the EIB, the Commission and EU Member States can be achieved, in order to improve planning and the definition of objectives, leading to the re-prioritisation of funding targets;

Amendment 14 #

Luke Ming FLANAGAN

Motion for a resolution
Paragraph 5

5. Underlines the fact that because of their impact and importance to economies both local and national, investment in SMEs, start-ups, research, innovation, the digital economy and energy efficiency is the most essential tofactor in driving economic recovery in the EU and to promoting the creation of quality jobs;

Amendment 15 #

Motion for a resolution
Paragraph 6

6. Points out the recurrent need for the EIB to contribute to reducing the lasting investment gap on the basis of sound economic criteria; ~~emphasises~~notes therefore that the assessment of funded projects ~~should also~~ takes into account social, economic and environmental externalities (both positive and negative), especially with respect to the effects that they have on local communities, in order to understand whether real added value is delivered to EU citizens;

Amendment 16 #

Motion for a resolution
Paragraph 7

7. Considers that approval of investment projects should be based on a sound, independent analysis assessing the financial sustainability and risks associated with the projects, in order to avoid the risk of socialisation of losses and privatisation of returns when public resources are involved; stresses that the provision of ~~public subsidies~~lending should be envisaged only for the execution of missions of general interests and where market failures have been clearly identified;

Amendment 17 #

Motion for a resolution
Paragraph 7

7. Considers that approval of investment projects should be based on a sound, independent analysis assessing the financial sustainability and risks associated with the projects, in order to avoid the risk of socialisation of losses and privatisation of returns when public resources are involved; stresses that the provision of public subsidies should be envisaged only for the execution of missions of general interests and where the market ~~failures have been cle~~is unable to deliver the necessarly ~~identified~~public policy results;

Amendment 18 #

Motion for a resolution
Paragraph 7 a (new)

7 a. Reiterates Parliament’s concern about defining a balanced strategy with a dynamic, fair and transparent geographical distribution of projects and investments among Member States, taking into account the special focus on the less developed countries and regions; observes that 70 % of the EIB’s total lending for 2016 (EUR 46.8 billion) is concentrated in six Member States, which shows that not all Member States or regions are able to benefit equally from investment opportunities;

Amendment 19 #

Motion for a resolution
Paragraph 8

8. Expresses its support for the EIB’s four public policy goals and for two horizontal objectives which cut across those goals – economic and social cohesion, and climate action – covering multiple issues, from addressing regional imbalances to helping weaker regions to become more attractive to developing a favourable environment to promote sustainable and inclusive growth; repeats, however, its call on the EIB to reinstate economic, social and territorial cohesion as a primary public policy goal;

Amendment 2 #

José Ignacio SALAFRANCA SÁNCHEZ-NEYRA

Motion for a resolution
Recital C a (new)

Ca. whereas the EIB plays a key role in implementing an ever greater number of financial instruments capable of leveraging EU budgetary funds;

Amendment 20 #

Motion for a resolution
Paragraph 9

9. Calls on the EIB to take into account, in the case of large-scale infrastructure projects, all risks likely to have an impact on the environment and to finance ~~onl~~as a priority those which have demonstrated real added value for the environment, the economy ~~and~~or the local population; stresses the importance of strict monitoring of possible risks of corruption and fraud and asks the EIB to freeze any loans to projects where an official investigation is underway;

Amendment 21 #

Nedzhmi ALI, Martina DLABAJOVÁ, Wolf KLINZ, Gerben-Jan GERBRANDY

Motion for a resolution
Paragraph 9

9. Calls on the EIB to take into account, in the case of large-scale infrastructure projects, all risks likely to have an impact on the environment and to finance only those which have demonstrated real added value for the environment, the economy and the local population; stresses the importance of strict monitoring of possible risks of corruption and fraud and asks the EIB to freeze any loans to projects wheren an official investigation ~~is underway~~, OLAF or national, so requires;

Amendment 22 #

Motion for a resolution
Paragraph 9 a (new)

9 a. Regrets that many Member States lack the capacity to implement financial instruments, deploy PPPs and achieve synergies between various types of financing, which affects negatively the overall investment progress;

Amendment 23 #

José Ignacio SALAFRANCA SÁNCHEZ-NEYRA

Motion for a resolution
Paragraph 10

10. Stresses the need to optimise the use of EU funds and grants, in addition to the EIB’s approach to delivering technical assistance and financial advice to Member States in an easily accessible manner, based on a combination of lending (project loans, intermediated loans, microfinance, venture capital, equity and fund investment), blending (direct financing supported by additional sources of investment, e.g. guarantees, project bonds) and advice (financial and technical expertise); calls on the EIB therefore, in cooperation with the Commission, to provide more technical assistance in the fields of advisory and analytical services, project management and capacity-building to those Member States which receive a low share of EIB financing; recalls that financial instruments, such as project bonds, should be seriously assessed with regard to their financial, social and environmental impact, in order to prevent the entire burden of risk being shifted to the public; in this context, recalls with regret the role played by the EIB and the Commission in the Castor project, involving a risk assessment which did not take account of the risk of increased seismic activity associated with the injection of gas, despite the existence of studies clearly warning of the potential dangers;

Amendment 24 #

Motion for a resolution
Paragraph 10

Amendment 25 #

Motion for a resolution
Paragraph 13

13. Considers the triple-A rating to be a ~~relevant~~n essential asset for the development of the EIB’s investment strategy and long- term lending priorities; recalls, however, that in order to contribute to the economic development of the EU, the EIB’s instruments and interventions – notably the ones based on risk transfers – cannot be risk-free;

Amendment 26 #

Motion for a resolution
Paragraph 14 a (new)

14 a. Given the most immediate challenge to the EIB caused by the UK's decision to trigger Article 50 and recognising that detailed terms of withdrawal cannot be pre-empted, calls on the EIB to provide Parliament with a detailed breakdown of the projects and stage of implementation up to end 2017 together with a preliminary assessment of the possible risks involved;

Amendment 27 #

Motion for a resolution
Paragraph 15

15. Notes that in 2016 the EIB’s portfolio of loans, guarantees and investments mobilised EUR 280 billion of total investment; observes that EUR 67.7 billion of investment was related to EFSI approvals in 2016, which were dedicated primarily to smaller companies (31 %), the energy sector (22 %), and research, development and innovation (22 %); ~~regrets, however, that a large share of investments under the EFSI portfolio was earmarked for fossil-fuel-related projects;~~ reiterates the need for an in-depth analysis and evaluation on the environmental impact of each project;

Amendment 28 #

Motion for a resolution
Paragraph 16

16. Considers that leveraging up the impact and ensuring additionality are of pivotal relevance; takes note of the modelling and estimated impact of the EIB’s activities, which should contribute to an additional 1.1 % of GDP growth and to the creation of an additional 1.4 million jobs by 2030; welcomes the fact that 385 000 SMEs, which are the backbone of the EU economy and drivers of employment and sustainable growth, will benefit from EIF financing; asks the EIB to regularly report on updated leverage effects; understands however, that leverage vary among sectors and a project with lower leverage does not necessarily imply low added value;

Amendment 29 #

Motion for a resolution
Paragraph 17

17. Stresses that the EIB’s activity in the current period of sluggish recovery must be carefully directed towards high- quality projects ensuring strengthened additionality vis-à-vis other existing Union instruments and the EIB’s main operations; hopes, to this end, to that closer collaboration between the EIB, the Commission and EU Member States can be achieved for the purposes of greater market flexibility and better digital and transport infrastructures, the lack of which is often perceived as an obstacle to investment;

Amendment 3 #

Motion for a resolution
Recital E

E. whereas contributing to a balanced and steady development of the internal market ~~is one of~~by financing projects for less- developed regions and for projects that cannot be entirely financed by individual Member States is the EIB’s core tasks according to Article 309 of the Treaty on the Functioning of the European Union (TFEU);

Amendment 30 #

Wolf KLINZ, Martina DLABAJOVÁ

Motion for a resolution
Paragraph 20

20. Notes that at year end 2016 the EFSI expected to mobilise eligible total investments of EUR 163.9 billion; however, also notes that according to the EIB Group Operational Plan 2018, the actual volume of investments mobilised under IIW and SMEW in 2016 amounts to no more than EUR 85.5 billion, which together with EUR 37 billion for 2015 amounts to a total of EUR 122.5 billion mobilised investments by EFSI;

Amendment 31 #

Motion for a resolution
Paragraph 20

20. Notes with concern that at year end 2016 the EFSI was expected to mobilise eligible total investments of EUR 163.9 billion and has therefore fallen short of expectations in meeting its target of €315bn;

Amendment 32 #

Wolf KLINZ

Motion for a resolution
Paragraph 20 a (new)

20 a. Questions whether the raised target of €500bn can be reached in the EFSI 2.0 implementation and calls on the EIB to prove the added-value of EFSI as a financial instrument to stimulate private investment;

Amendment 33 #

Motion for a resolution
Paragraph 21

21. Recalls that the underlying rationale of the EFSI, which is supported by the EU budget, unlike other current EIB financing instruments, is to provide additionality by identifying truly additional and innovative future-oriented sectors, and projects with higher risk, along with new counterparts from the private sector;

Amendment 34 #

Motion for a resolution
Paragraph 24

24. Recalls that the assessment of the additionality of all EFSI-supported projects must be duly documented; regrets that the scoreboards for the approved operations are not published under EFSI 1.0; recalls that this failure to publish creates both accountability and transparency issues; emphasises thate importance of transparency regarding the EFSI Scoreboard of Indicators ~~is necessary~~, also in view of the need to hold the EFSI Investment Committee accountable, and notes therefore positively that the Scoreboard of Indicators will be made public under EFSI 2.0;

Amendment 35 #

Motion for a resolution
Paragraph 24

24. Recalls that the assessment of the additionality of all EFSI-supported projects must be duly documented; regrets that the scoreboards for the approved operations are not published; recalls that this failure to publish creates both accountability and transparency issues; emphasises that transparency regarding the EFSI Scoreboard of Indicators is necessary, also in view of the need to hold the EFSI Investment Committee accountable; stresses also the need for a clearer definition of the principle of additionality in relation to activities with a higher risk than standard EIB operations, in order to ensure greater coherence and transparency in the selection of projects;

Amendment 36 #

Motion for a resolution
Paragraph 26

26. Deplores the fact that the list of projects chosen to receive funding under EFSI includes infrastructure installations with serious environmental impact and dubious additionality, such as biorefineries, steelworks, regasification and gas storage facilities and motorways; criticises the fact that in many cases the EIB has failed to take action on reports from local authorities, stakeholder communities and civil society groups of environmental and social legislation being breached by funding recipients and by the projects financed, claiming that it was not its responsibility to carry out the necessary investigations; calls on the EIB, with reference to the precautionary principle, to freeze and, if necessary, to withdraw funding wherever there is any suspicion of environmental infringements and damage to society or to local communities;deleted

Amendment 37 #

Motion for a resolution
Paragraph 26

26. ~~Deplores the fact that t~~Calls on the Bank to shed lisght ofn EFSI projects ~~chosen to receive funding under EFSI~~which potentially includes infrastructure installations with serious environmental impact and dubious additionality, such as first generation biorefineries, steelworks, regasification and gas storage facilities and motorways; criticises the fact that in many cases the EIB has failed to take action on reports from local authorities, stakeholder communities and civil society groups of environmental and social legislation being breached by funding recipients and by the projects financed, claiming that it was not its responsibility to carry out the necessary investigations; calls onalls on the Bank to seriously take into account statements from local authorities, stakeholder communities and civil society groups according to its due diligence procedures; recommends the EIB, with reference to the precautionary principle, to freeze and, if necessary, to withdraw funding wherever there is ~~any suspicion~~enough evidence of environmental infringements and damage to society or to local communities;

Amendment 38 #

Motion for a resolution
Paragraph 26

26. Deplores the fact that the list of projects chosen to receive funding under EFSI includes infrastructure installations with serious environmental impact and dubious additionality, such as biorefineries, steelworks, regasification and gas storage facilities and motorways; criticises the fact that in many cases the EIB has failed to take action on reports from local authorities, stakeholder communities and civil society groups of environmental and social legislation being breached by funding recipients and by the projects financed, claiming that it was not its responsibility to carry out the necessary investigations; calls on the EIB, with reference to the precautionary principle, to freeze and, if necessary, to withdraw funding wherever there is any s~~uspicion~~cientific proof or serious risk of environmental infringements and damage to society or to local communities;

Amendment 39 #

Motion for a resolution
Paragraph 28

Amendment 4 #

Nedzhmi ALI, Martina DLABAJOVÁ

Motion for a resolution
Recital E a (new)

E a. whereas the majority of EIB investments are still being concentrated in the EU’s top five economies, putting other Member States and regions at a disadvantage;

Amendment 40 #

Motion for a resolution
Paragraph 28

28. Regrets the fact that only 20 % of EFSI financing has supported projects that contribute to climate change mitigation and adaptation, whereas the EIB’s standard portfolio has attained the 25% threshold; calls on the EIB to ensure that its maximum standards are respected in all circumstances, with a view to protecting the environment and meeting the COP21 criteria; notes therefore with satisfaction that at least 40% of EFSI projects under the Infrastructure and Innovation Window will be committed to climate action in line with the COP21 objectives;

Amendment 41 #

Motion for a resolution
Paragraph 28 a (new)

28 a. Is concerned that at the end of 2016 EFSI investments in Social infrastructure (human capital, culture and health) amounted to only 4 % (less than EUR 900 million) being the lowest supported sector by EFSI as a whole and within the two individual windows – IIW and SMES; stresses that there is a clear and urgent need to significantly increase the share and volume of such investments;

Amendment 42 #

Motion for a resolution
Paragraph 29

29. BRegrets that the existing support services are not present locally to address capacity weaknesses; believes that adequate clarification or strategic guidance should be provided for local and regional actors, particularly with regard to the EFSI’s positioning and possible combination with other Union or EIB funds; points out that the EFSI should not be considered as merely another additional financial source, and that due care should be devoted to avoiding double targeting or double funding;

Amendment 43 #

Motion for a resolution
Paragraph 29

29. Believes that adequate clarification or strategic guidance should be provided for local and regional actors, particularly with regard to the EFSI’s positioning and possible combination with other Union or EIB funds; ~~points out~~notes that cooperation between the EFSI and other sources of EU funding (COSME, Horizon 2020) offers great prospects; points out at the same time that the EFSI should not be considered as merely another additional financial source, and that due care should be devoted to avoiding double targeting or double funding;

Amendment 44 #

Motion for a resolution
Paragraph 31

31. ~~Urges~~Takes note of the improvement of the transparency of the operations selection process and disclosure of ~~all~~ operational information on signed operations through the scoreboard of indicators, as well as of the accountability of operations, under EFSI 2.0 regulation;

Amendment 45 #

Motion for a resolution
Paragraph 33 a (new)

33 a. Recommends that annual reports indicate how the EIB integrated the recommendations made in European Parliament resolutions, which is a practice of accountability that should be formalised;

Amendment 46 #

Motion for a resolution
Paragraph 35

35. Regrets that there is no structured information provided in the report on EIB operations inside the EU in 2016 about one of the Bank’s cross-cutting policies, i.e. economic and social cohesion; expresses its concern that for a second year in 2016 the EIB did not reach the envisaged level of 30 % for investments for cohesion (26.8 % in 2016 and 25,2% in 2015 achieved inside the EU);

Amendment 47 #

Motion for a resolution
Paragraph 38 a (new)

38 a. Regrets that the social investments amount to less than 6 % of the annual EIB portfolio; underlines that social cohesion is a key horizontal priority goal for the EIB and insists on the Bank to take into consideration the need for reducing inequalities and disparities within the EU, for investing in the social sector and on a broader geographical scale;

Amendment 48 #

Motion for a resolution
Paragraph 42 a (new)

42 a. Stresses that the EIB needs to further develop its risk culture in order to improve its effectiveness and the complementarity between its interventions and various EU policies, especially in economically disadvantaged regions or regions that lack stability, in line with the recurrent and longstanding objective of easier access to financing for SMEs, but without compromising the principles of sound management;

Amendment 49 #

Motion for a resolution
Paragraph 44

44. Underlines that investment in innovation and skills is crucial to the development of Europe’s knowledge economy and to the achievement of the Europe 2020 targets, including 3 % of GDP being spent on R&D; hopes in particular that the EIB, in cooperation with the Commission and the Member States, will fund projects that can guarantee to cover, in the short to medium term, the shortfall in skilled labour, which represents a strong obstacle to investment;

Amendment 5 #

Motion for a resolution
Recital J

J. whereas the EIB’s investments should not be only bankable operations but also respond to sustainability criteria and governance standards in line with the Treaty requirement for operating on a non-profit-making basis in the interest of the Union;

Amendment 50 #

Motion for a resolution
Paragraph 45

45. Notes that total lending to innovative projects in 2016 amounted to EUR 13.5 billion, of which EUR 12.2 billion concerned first signatures, while total project investment costs corresponding to new operations were EUR 50.2 billion;

Amendment 51 #

Motion for a resolution
Paragraph 46

46. UrEncourages the EIB to ~~ensur~~continue its support for innovative firms in their development and commercialisation of new products, processes and services as they face difficulties in obtaining financial aid from commercial banks; stresses the role of the EIB in helping to complete Europe’s digital network (e.g. fast broadband) and create a single digital market, including digital services; encourages the EIB to develop incentives aimed at promoting public and private sector investment in R&D in the fields of information and communications technology, life sciences, food, sustainable agriculture, forestry and low- carbon technologies;

Amendment 52 #

Motion for a resolution
Paragraph 48 – subparagraph 1 (new)

Calls on the EIB to pay greater attention to the implementation of infrastructure projects, especially in weaker regions, in order to avoid a slowdown of the economic convergence process; calls, therefore, for a reflection at EU level on public financing for measures, even of a provisional nature, that can bring about a genuine revival of public investment in infrastructures;

Amendment 53 #

José Ignacio SALAFRANCA SÁNCHEZ-NEYRA

Motion for a resolution
Paragraph 50 a (new)

50 a. Calls on the EIB, in regards to infrastructure operations within the EU, to invest significantly more resources for comprehensive advisory assistance to authorities locally and to smaller municipalities at an earlier stage in the identification and pre-assessment of projects;

Amendment 54 #

Motion for a resolution
Paragraph 53

53. Stresses the importance of the goals set by COP 21 with regard to transport in combating climate change; expresses its concern that transport represents almost a quarter of Europe’s greenhouse gas (GHG) emissions and is the main cause of air pollution in cities, while emissions in this sector remain higher than in 1990; notes ~~with concern~~ that in the period 2014-2016 the EIB funded fossil energy projects in Member States amounting to a total of EUR 5.3 billion, namely two petroleum projects, one carbon project and 27 gas- related projects, in addition to EUR 976 million through the external guarantee to fund six non-EU projects, one of which concerned carbon and five fossil gas projects; underlines that financing should favour a shift from road transport to more sustainable forms of transport;

Amendment 55 #

Motion for a resolution
Paragraph 53 a (new)

53 a. Stresses the importance of the projects planned to be financed or co- financed by the EIB to be compatible with national climate targerts linked to the implementation of the COP 21;

Amendment 56 #

Motion for a resolution
Paragraph 53 b (new)

53 b. Welcome review of the EIB's energy lending criteria; calls on the EIB to include a definite timeline for phasing out of the support for the fossil fuels in the review; expects that the review gives a clear priority to investments in the energy efficiency;

Amendment 57 #

Motion for a resolution
Paragraph 53 c (new)

53 c. Calls on the EIB to further reinforce its support to the renewable energy sector, in particular to decentralised and small scale projects;

Amendment 58 #

Motion for a resolution
Paragraph 58

58. Calls on the EIB, with regard to its ~~new~~revised External Lending Mandate, to ensure that real added value and additionality are brought by the new priority on migration added ~~to the previous ones, namely climate, SMEs~~by the co- legislators to the existing ones, namely climate, private sector development and socio-economic infrastructure; stresses, therefore, the need to implement the newly-created Economic Resilience Initiative in an appropriate manner, supporting projects that are different from previously financed ones;

Amendment 59 #

Motion for a resolution
Paragraph 58 a (new)

58 a. Takes note that the EIB is planning to set up a development subsidiary within the EIB group with the aim of becoming the EU development bank; calls on the EIB and the Commission to to procede with the preparations in the most transparent and inclusive way including a public consultation process;

Amendment 6 #

Luke Ming FLANAGAN

Motion for a resolution
Recital L a (new)

L a. whereas while the EIB - by its nature - must involve itself on occasion with private profit- driven enterprise, its primary role is to serve the interests of the citizens of the EU above the interests of any private enterprise, company or corporation;

Amendment 60 #

Motion for a resolution
Paragraph 60

60. Recognises the importance of raising awareness at local and regional level of the availability of funding and technical assistance throughout the EU; acknowledges, moreover, that an appropriate awareness of the EIB’s involvement in project financing for various stakeholders is crucial if citizens at local level are to be aware of their right to appeal and lodge complaints with the Complaints Mechanism Office and the European Ombudsman; notes that 89 complaints were registered in 2016, of which 84 were admissible, by comparison with the 56 complaints received in 2015;

Amendment 61 #

Dennis de JONG

Motion for a resolution
Paragraph 60 a (new)

60 a. Expresses its concern with the proposed revision of the EIB Complaints mechanism Policy and calls on the EIB to ensure, in particular, that:- the Head of the EIB CM registers all complaints duly and inform the complainants of the reception of their complaint before a decision on admissibility has been taken;- the Head of the EIB CM is independent from other parts of the Bank's governance structure and should be able to take all decisions concerning admissibility of the complaint without having to consult the services of the EIB Group, and should take decisions with regard to the eligibility of the complaint for an investigation/compliance review or mediation, even if there is no agreement with the EIB services, the Inspector General or the Management Committee;- follow the examples given by the European Ombudsman for the definition of maladministration, so that it includes forms of poor or failed administration such as administrative irregularities, unfairness, discrimination, abuse of power, failure to reply, refusal of information and unnecessary delay;- the procedure is as transparent as possible with the CM disclosing information on its procedures, operations and cases proactively;- recruitment procedures for the Head and staff of the CM become more transparent;

Amendment 62 #

Motion for a resolution
Paragraph 60 a (new)

60 a. Draws attention to concerns raised during the public consultations with regard to some proposals for the revision of the Complaints Mechanism Office of the EIB, namely, the exclusion from the Complaints Mechanism of cases linked to public procurement as well as of issues related to the legality of the EIB policy; the limitation of the independence of the Complaints Mechanism Office by envisaging a requirement to consult other services before assessing whether a complaint is admissible and by reducing the Office's ability to give recommendations; strongly encourages the Management Committee to take on board these concerns;

Amendment 63 #

Motion for a resolution
Paragraph 60 a (new)

60 a. Stresses the importance of the European Ombudsman exerting public scrutiny over the EIB;

Amendment 64 #

Motion for a resolution
Paragraph 61

61. Welcomes the disclosure of the minutes of the meetings of the EIB Board of Directors, and ~~calls on~~recommends the EIB also to ~~disclose the minutes~~consider disclosing non-confidential information of the meetings of the Management Committee; at project level, reiterates its request concerning the systematic disclosure of Completion Reports for EIB activities outside Europe, as well as of the 3PA and REM sheets for EIB projects; believes that the practice of disclosing the Scoreboard of Indicators, as foreseen for EFSI 2.0, should be applied to all projects implemented by the EIB;

Amendment 65 #

Motion for a resolution
Paragraph 62

62. Recalls the need to provide for more stringent rules on conflicts of interest and for clear, strict and transparent criteria to prevent any form of corruption; reiterates fact that the EIB must revise its Code of Conduct in order to make sure that its Vice-Presidents are not in charge of operations in their home countries, since this poses a risk to the independence of the institution; ~~stresses the importance of the European Ombudsman exerting public scrutiny over the EIB;~~ is deeply concerned at the shortcomings identified in the EIB’s existing mechanisms to prevent possible conflicts of interest within its governing bodies; calls on the EIB, in this regard, in order to better prevent conflicts of interest in its governing bodies and potential ‘revolving door’ issues, to take into consideration the Ombudsman’s recommendations and to revise its Code of Conduct as soon as possible;

Amendment 66 #

Motion for a resolution
Paragraph 62

62. RIs deeply concerned that the Bank's management has so far provided no response whatsoever to the specific provisions of paragraphs 75 and 76 of the Parliament Resolution on the control of the financial activities of the EIB for 2015 and recalls the need to provide for more stringent rules on conflicts of interest and for clear, strict and transparent criteria to prevent any form of corruption; reiterates fact that the EIB must revise its Code of Conduct in order to make sure that its Vice-Presidents are not in charge of operations in their home countries, since this poses a risk to the independence of the institution; stresses the importance of the European Ombudsman exerting public scrutiny over the EIB; is deeply concerned at the shortcomings identified in the EIB’s existing mechanisms to prevent possible conflicts of interest within its governing bodies; calls on the EIB, in this regard, in order to better prevent conflicts of interest in its governing bodies and potential ‘revolving door’ issues, to take into consideration the Ombudsman’s recommendations and to revise its Code of Conduct as soon as possible;

Amendment 67 #

Dennis de JONG

Motion for a resolution
Paragraph 62

62. Recalls the need to provide for more stringent rules on conflicts of interest and for clear, strict and transparent criteria to prevent any form of corruption; reiterates fact that the EIB must revise its Code of Conduct in order to make sure that its Vice-Presidents are not in charge of operations in their home countries, since this poses a risk to the independence of the institution; stresses the importance of the European Ombudsman exerting public scrutiny over the EIB; is deeply concerned at the shortcomings identified in the EIB’s existing mechanisms to prevent possible conflicts of interest within its governing bodies; calls on the EIB, in this regard, in order to better prevent conflicts of interest in its governing bodies and potential ‘revolving door’ issues, to take into consideration the Ombudsman’s recommendations and to revise its Code of Conduct as soon as possible; and to revise its Code of Conduct as soon as possible; calls on the EIB to join the inter- institutional agreement on the EU Transparency Register, as soon as the negotiations between the Commission, the Parliament and the Council have been concluded;

Amendment 68 #

Motion for a resolution
Paragraph 66

66. Positively notes the importance given by the EIB to its policy of zero tolerance of fraud, corruption and collusion; insists that the EIB revise its policy on preventing and deterring prohibited conduct in EIB activities, which should set in stone the need for the EIB to freeze financing or approving further loan disbursements for projects that are under ongoing national or OLAF investigation for corruption and fraud; underlines the need to disclose information on the contracting and subcontracting system in order to avoid any risk of fraud and corruption; stresses the fact that the EIB website should contain a dedicated and visible space where debarred entities are listed publicly, in order to ensure a deterrent effect; underlines the importance of the EIB entering into cross-debarment networks with other multilateral lenders; calls on the EIB to harmonise its debarment policy with other multilateral lenders, such as the World Bank, which lists more than 800 individuals and firms as ‘debarred’ despite its volume of funding being approximately one half of that of the EIBunderlines the need to disclose information on the contracting and subcontracting system in order to avoid any risk of fraud and corruption;

Amendment 69 #

Motion for a resolution
Paragraph 66

66. Positively notes the importance given by the EIB to its policy of zero tolerance of fraud, corruption and collusion; ~~insists that the EIB revise its policy on preventing and deterring prohibited conduct in EIB activities, which should set in stone the need for the EIB to freeze financing or approving further~~calls on the EIB to take all appropriate measures, including suspension of payments and loan disbursements ~~for~~, with view of projtect~~s that are under ongoing national or OLAF investigation for corruption and fraud~~ing the EIB´s and the EU´s financial interests whenever OLAF or criminal investigations so require and calls further the EIB to adapt its internal rules accordingly; underlines the need to disclose information on the contracting and subcontracting system in order to avoid any risk of fraud and corruption; stresses the fact that the EIB website should contain a dedicated and visible space where debarred entities are listed publicly, in order to ensure a deterrent effect; underlines the importance of the EIB entering into cross-debarment networks with other multilateral lenders; calls on the EIB to harmonise its debarment policy with other multilateral lenders, such as the World Bank, which lists more than 800 individuals and firms as ‘debarred’ despite its volume of funding being approximately one half of that of the EIB;

Amendment 7 #

Motion for a resolution
Paragraph 2

2. Takes note of the set of EIB annual reports for 2016 presenting the various investing activities and their expected impacts; reiterates its request that the EIB present a more comprehensive, detailed and harmonised annual ~~report with a better impact overview and evaluation of the EIB’s overall activities and lending priorities as well as of financed projects~~activity report and significantly improve the presentation of the information by including detailed and trustworthy breakdowns of the investments approved, signed and disbursed for the given year and the financing sources engaged (own resources, EFSI, EU centrally managed programmes, etc.), as well as such information regarding beneficiaries (Member States, public, private sector, intermediaries or direct recipients) and sectors supported;

Amendment 70 #

Motion for a resolution
Paragraph 66 – subparagraph 1 (new)

Hopes that the EIB, in line with the 2016 Commission communication, will continue to implement and improve an external strategy for effective taxation, ensuring to compliance with international tax transparency standards and encouraging international country-by- country reporting; calls on the EIB to ensure a high quality of information regarding ultimate beneficiaries and effectively prevent transactions with financial intermediaries having adverse consequences with regard to transparency, fraud, corruption, organised crime and money laundering or harmful social and environmental repercussions;

Amendment 71 #

Motion for a resolution
Paragraph 66 a (new)

66 a. Insists that the EIB revise its policy on preventing and deterring prohibited conduct in EIB activities, which should set in stone the need for the EIB to freeze financing or approving further loan disbursements for projects that are under on-going national or OLAF investigation for corruption and fraud;

Amendment 72 #

Motion for a resolution
Paragraph 66 b (new)

66 b. Stresses the fact that the EIB website should contain a dedicated and visible space where debarred entities are listed publicly, in order to ensure a deterrent effect; underlines the importance of the EIB entering into cross-debarment networks with other multilateral lenders; calls on the EIB to harmonise its debarment policy with other multilateral lenders, such as the World Bank, which lists more than 800 individuals and firms as ‘debarred’ despite its volume of funding being approximately one half of that of the EIB;

Amendment 8 #

Motion for a resolution
Paragraph 2

2. Takes note of the set of EIB annual reports for 2016 presenting the various investing impacts; reiterates its request that the EIB present a more comprehensive, detailed and harmonised annual report with a better impact overview and evaluation of the EIB’s overall activities and lending priorities as well as of financed projects and sectors; calls on the EIB to forward the results of the ex-post evaluations to the European Parliament;

Amendment 9 #