2022/2062(INI) | [ParlTrack]

Motion for a resolution
Citation 1 a (new)

— having regard to Articles 41 - 43 of the Treaty establishing the European Atomic Energy Community,

Amendment 10 #

Lídia PEREIRA

Motion for a resolution
Recital B

B. whereas the EIB is the long-term lending arm of the European Union and is the world’s largest multilateral lender and ~~one of~~has an important role as a financial institution supporting the bdig~~gest providers of climate finance~~ital and green transition;

Amendment 100 #

Caroline NAGTEGAAL, Stéphanie YON-COURTIN, Olivier CHASTEL, Erik POULSEN, Gilles BOYER, Valérie HAYER, Georgios KYRTSOS

Motion for a resolution
Paragraph 22 c (new)

22 c. Calls on the EIB to systematically evaluate the credibility of the decarbonisation plans applying decarbonisation criteria compatible with 1,5 degree target before signing any new financial commitment;

Amendment 101 #

Motion for a resolution
Paragraph 23

23. Welcomes the introduction of the EIB’s new transport lending policy in July 2022 and calls for its swift implementation; calls on the EIB to finance all projects that align with the EU Taxonomy, as well as other projects that aim to lower the carbon footprint of the maritime sector, such as Green Corridor projects;

Amendment 102 #

Alfred SANT, Aurore LALUCQ, Joachim SCHUSTER, Katarína ROTH NEVEĎALOVÁ, Eero HEINÄLUOMA, Costas MAVRIDES, Jonás FERNÁNDEZ

Motion for a resolution
Paragraph 23

23. ~~Welcom~~Notes the introduction of the EIB’s new transport lending policy in July 2022 and calls for its swift implementation, invites the EIB to consider ways to align this policy with the transition challenges in the transport sector, which has not seen sufficient decarbonisation efforts in recent years;

Amendment 103 #

Motion for a resolution
Paragraph 23

23. Welcomes the introduction of the EIB’s new transport lending policy in July 2022 and calls for its swift implementation; recalls the need for a higher level of investment towards the decarbonisation of the maritime and aviation system;

Amendment 104 #

Alfred SANT, Aurore LALUCQ, Katarína ROTH NEVEĎALOVÁ, Eero HEINÄLUOMA, Costas MAVRIDES

Motion for a resolution
Paragraph 23 a (new)

23 a. Calls on the EIB to step up support for affordable and energy efficient housing and the renovation of buildings in line with the considerable investment needs as a consequence of the upcoming revision of the Energy performance of buildings directive (EPBD); stresses the need to strengthen advisory services in the housing domain and to involve local, regional, social and public housing providers to ensure their expertise is used in the development of projects financed by the EIB;

Amendment 105 #

Motion for a resolution
Paragraph 23 a (new)

23 a. Asks the EIB to give particular attention when it comes to funding decisions relevant to insular and peripheral regions in view of their struggle to comply with requirements relevant to the green deal while simultaneously maintaining and increasing their connectivity with the rest of the EU;

Amendment 106 #

Jonás FERNÁNDEZ

Motion for a resolution
Paragraph 23 a (new)

23 a. Asks the EIB to give particular attention to funding decisions relevant to peripheral, mountainous, sparsely populated or insular regions, given their difficulties to comply with the Green Deal requirements while simultaneously maintaining and improving their connectivity;

Amendment 107 #

Alfred SANT, Margarida MARQUES, Aurore LALUCQ, Joachim SCHUSTER, Katarína ROTH NEVEĎALOVÁ, Eero HEINÄLUOMA, Costas MAVRIDES, Jonás FERNÁNDEZ

Motion for a resolution
Subheading 4 a (new)

Social Elements

Amendment 108 #

Alfred SANT, Margarida MARQUES, Aurore LALUCQ, Joachim SCHUSTER, Katarína ROTH NEVEĎALOVÁ, Eero HEINÄLUOMA, Costas MAVRIDES, Jonás FERNÁNDEZ

Motion for a resolution
Paragraph 23 b (new)

23 b. In line with the principles established in the European Pillar of Social Rights, and in view of the current EU housing crisis, expects an increase in EIB financed operations in the area of social housing; furthermore asks the EIB to keep up its focus on women economic empowerment and gender equality when targeting new financing;

Amendment 109 #

Alfred SANT, Margarida MARQUES, Aurore LALUCQ, Joachim SCHUSTER, Katarína ROTH NEVEĎALOVÁ, Eero HEINÄLUOMA, Costas MAVRIDES, Jonás FERNÁNDEZ

Motion for a resolution
Paragraph 23 c (new)

23 c. Notes the shortage in specialised labour in most of the EU and in this vein believes that the areas of education and skills are not provided the needed priority;

Amendment 11 #

Alfred SANT, Margarida MARQUES, Aurore LALUCQ, Joachim SCHUSTER, Katarína ROTH NEVEĎALOVÁ, Eero HEINÄLUOMA, Costas MAVRIDES, Jonás FERNÁNDEZ

Motion for a resolution
Recital C a (new)

C a. whereas in order to achieve the EU's climate goals, investments of €1 trillion a year are needed in the European Union, which is €356 billion more a year than in 2010-20201a, whereas a capable investment bank such as the EIB can help bridging the gap by crowding in private capital; _________________ 1a EIB Investment Report 2022/2023, p.10

Amendment 110 #

Motion for a resolution
Paragraph 23 d (new)

23 d. Is concerned about the systemic weakening of healthcare systems in many Member States of the EU and the ongoing medicine shortage in the EU which includes basic medicine such as paracetamol and antibiotics; further recalls the general scarcity of medicine products and medical equipment experienced during the COVID pandemic; in this context calls on the EIB to evaluate the possibilities to further invest in this sector with the aim to tackle the structural European deficiency in the health sector;

Amendment 111 #

Alfred SANT, Margarida MARQUES, Aurore LALUCQ, Joachim SCHUSTER, Jonás FERNÁNDEZ

Motion for a resolution
Paragraph 23 e (new)

23 e. Applauds the financing dedicated to assistance towards refugees in reception centres or temporary education under the Ukraine solidarity package; requests that a similar priority is provided to refugees escaping from conflicts in other neighbouring regions of the EU;

Amendment 112 #

Alfred SANT, Aurore LALUCQ, Costas MAVRIDES, Jonás FERNÁNDEZ

Motion for a resolution
Paragraph 24

24. Welcomes the fact that EIB Global supported EUR 9.1 billion in global investment outside the EU in 2022; expects EIB investments in non-EU countries to be fully aligned with EU and EU external action policies particularly when it comes to due diligence requirements related to environmental, social and corporate governance and the achievement of Sustainable Development Goals; specifically calls on the EIB to strengthen further its procedures and practices in respect to human rights and good governance violations emanating through projects it finances, directly or through intermediaries, and to prioritise on the protection of local communities and their environment; questions the EIB’s actions in light of recent reports in the media that the EIB is failing to act on evidence of fraud and corruption in a €48mn worth of investments the EIB made into a now bankrupt Kenyan construction company, and calls on the EIB to clarify how it evaluates financial and reputational risk when deciding whether to launch an investigation;

Amendment 113 #

Motion for a resolution
Paragraph 24

Amendment 114 #

Caroline NAGTEGAAL, Engin EROGLU, Olivier CHASTEL, Erik POULSEN, Georgios KYRTSOS

Motion for a resolution
Paragraph 24

Amendment 115 #

Motion for a resolution
Paragraph 24

Amendment 116 #

Motion for a resolution
Paragraph 24 a (new)

24 a. Underlines that EIB Global plays a pivotal role in the Global Gateway strategy and the European Financial Architecture for Development; calls for regular assessments of the implementation of the Global Gateway and related EIB Global activities and expect the European Parliament to be given a significant oversight in the governance of the Global Gateway, beyond a simple observer role, given the scrutiny role the European Parliament is entitled to through the NDICI-Global Europe, which is the main source of financing of the Global Gateway;

Amendment 117 #

Caroline NAGTEGAAL, Engin EROGLU, Stéphanie YON-COURTIN, Olivier CHASTEL, Erik POULSEN, Gilles BOYER, Valérie HAYER, Ondřej KOVAŘÍK, Georgios KYRTSOS

Motion for a resolution
Paragraph 24 a (new)

24 a. Considers that the EIB should contribute to the EU’s objective of enhancing its strategic autonomy; welcomes in this regard the launch of the Global Gateway Fund, which will principally support investments in infrastructure and SME's;

Amendment 118 #

Motion for a resolution
Paragraph 24 b (new)

24 b. Calls on EIB Global to develop a concrete and strong development mandate centered on development additionality and country ownership for the new EIB Global; expects this new structure and its advisory board, its goals and budgetary provisions, organisational functioning as well as its coordination mechanisms with other financial development institutions, to be fully transparent, including by proactively publishing documents, and to ensure regular open dialogue with stakeholders, and in particular with civil society organisations;

Amendment 119 #

Motion for a resolution
Paragraph 24

24. Welcomes the fact that EIB Global supported EUR 9.1 billion in global investment outside the EU in 2022; expects EIB investments in non-EU countries to be fully aligned with ~~EU and EU external action policies;~~the UN sustainable develpment goals.

Amendment 12 #

Motion for a resolution
Recital C a (new)

C a. whereas the EIB branded itself the EU’s climate bank, in view of the additional investments needed to deliver the green transition;

Amendment 120 #

25. Recalls the EU’s overarching commitment to defending and promoting EU values and the rule of law in its operations outside the EU; underscores the need to invest in due diligence capabilities when operating in an environments marked by challenges on the rule of law and limited recourse in cases of human rights violations; notes that this requires additional human resources and specialised scrutiny in line with the standard of development banks;

Amendment 121 #

Motion for a resolution
Paragraph 25

25. Recalls the EU’s overarching commitment to defending and promoting EU values and the rule of law in its operations outside the EU; stresses, in this context, the need to combat and oppose corruption, money laundering and flagrant human rights violations;

Amendment 122 #

Motion for a resolution
Paragraph 25

25. Recalls the EU’s overarching commitment to defending ~~and promoting EU values and~~ the rule of law in its operations outside the EU;

Amendment 123 #

Motion for a resolution
Paragraph 25

~~25. Recalls the EU’s overarching commitment to defending and promoting EU values and the rule of law in its operations outside the EU;~~deleted

Amendment 124 #

Motion for a resolution
Paragraph 25 a (new)

25 a. Expresses particular concern that since 2015, no standalone human rights impact assessments have been required by the EIB to be carried out by promoters; furthermore reiterates its call on EIB Global to ensure inclusive and meaningful consultation and engagement with communities impacted by its projects prior to their approval and throughout project implementation; underlines that specific measures should be implemented to include indigenous peoples, women, persons with disabilities and other vulnerable groups during the consultations;

Amendment 125 #

Motion for a resolution
Paragraph 25 b (new)

25 b. Reminds that EIB operations outside of Europe are based on the general principles guiding EU external action as set forth in Article 21 of the Treaty on the European Union, such as supporting democracy and the rule of law, human rights and fundamental freedoms; is of the opinion that EIB Global should also be accountable for compliance with the principles stated in the Paris Declaration on Aid Effectiveness and Accra Agenda for Action (ownership, alignment, harmonisation, managing for results and mutual accountability); these principles should guide its operations as a public bank tasked with a development mandate;

Amendment 126 #

Alfred SANT, Margarida MARQUES, Aurore LALUCQ, Joachim SCHUSTER, Katarína ROTH NEVEĎALOVÁ, Eero HEINÄLUOMA, Costas MAVRIDES, Jonás FERNÁNDEZ

Motion for a resolution
Paragraph 25 c (new)

25 c. Calls on EIB Global to develop a strategy centered on clear development additionality, as well as sustainable development agenda including solid human rights and environmental standards, and to include civil society organisations in that process; calls on the EIB to encourage member states to invite their respective Development Ministries to take part in the EIB Global's Board Advisory Group; reiterates its call for EIB global to limit blending operations to areas where they can add value to the local economy, while excluding blended finance from essential public services, particularly health, education and social protection, as the monetisation of those sectors could widen already existing inequalities and jeopardise the universal access to those services; calls on the EIB Global to increase its support to projects with limited bankability and high public return, and to lower the minimum loan size of individual projects, in particular in LDCs;

Amendment 127 #

Motion for a resolution
Paragraph 26

26. Underlines that enhancing local presence and increasing cooperation with the EU delegations was a key driver in the establishment of EIB Global; reiterates its calls for additional staff on the ground, particularly in view of contracting more employees from the countries where the financing is taking place; supports the EIB’s approach to open regional offices in Africa and employ local applicants in these offices with the aim of adapting its requirements to local needs;

Amendment 128 #

Alfred SANT, Margarida MARQUES, Aurore LALUCQ, Joachim SCHUSTER, Katarína ROTH NEVEĎALOVÁ, Eero HEINÄLUOMA, Costas MAVRIDES, Jonás FERNÁNDEZ

Motion for a resolution
Paragraph 26 a (new)

26 a. Asks the EIB to evaluate better its effectiveness when it comes to financing for SMEs and mid-caps in Africa whereby the relatively small size of projects seems to be often a hurdle towards access to finance; calls for an evaluation of a possible design of instruments that facilitate investment by EU SMEs in third countries, and increase their access to finance, including with respect to smaller projects; notes the importance of the EIB’s role in creating a level playing field for SMEs based in Member States whose national development banks do not have the capacity to promote investment in third countries;

Amendment 129 #

Alfred SANT, Margarida MARQUES, Aurore LALUCQ, Joachim SCHUSTER, Katarína ROTH NEVEĎALOVÁ, Eero HEINÄLUOMA, Costas MAVRIDES, Jonás FERNÁNDEZ

Motion for a resolution
Paragraph 26

Amendment 13 #

Motion for a resolution
Recital C c (new)

C c. whereas current estimates show that the EU must invest an extra EUR 350 billion a year to achieve its 2030 climate targets;

Amendment 130 #

Motion for a resolution
Paragraph 27

27. Underlines that development investments that involve women and take their needs into account are more effective and more sustainable; invites the EIB to systematically ensure that all of its operations benefit women and specifically economic sectors conducive to the advancement of female participation, in line with its gender-smart financing;1c _________________ 1c https://www.eib.org/attachments/publicati ons/gender-overview-2022-en.pdf

Amendment 131 #

Alfred SANT, Margarida MARQUES, Eero HEINÄLUOMA, Costas MAVRIDES, Jonás FERNÁNDEZ

Motion for a resolution
Paragraph 27

~~27. Underlines that development investments that involve women and take their needs into account are more effective and more sustainable;~~deleted

Amendment 132 #

Motion for a resolution
Paragraph 27 a (new)

27 a. Points out to the essential role of direct financing in countries from where the bulk of irregular migration into Europe originates in the perspective of slowing down forced economic immigration from these regions and of contributing further to the development and economic empowerment of these communities;

Amendment 133 #

Alfred SANT, Margarida MARQUES, Aurore LALUCQ, Joachim SCHUSTER, Katarína ROTH NEVEĎALOVÁ, Costas MAVRIDES, Jonás FERNÁNDEZ

Motion for a resolution
Paragraph 28

28. Stresses the importance of consistency and efficiency in development finance and calls on the EIB to place greater emphasis on mobilising domestic resources in less developed countries that are aligned with the principles and values of the European Union;

Amendment 134 #

Motion for a resolution
Paragraph 28

28. Stresses the importance of consistency and efficiency in development finance and calls on the EIB to place greater emphasis on mobilising domestic resources and for a general increase of its commitment in less developed countries;

Amendment 135 #

Alfred SANT, Margarida MARQUES, Aurore LALUCQ, Joachim SCHUSTER, Katarína ROTH NEVEĎALOVÁ, Eero HEINÄLUOMA, Costas MAVRIDES, Jonás FERNÁNDEZ

Motion for a resolution
Paragraph 29 a (new)

29 a. Is concerned about the transparency and harm prevention of intermediated investments of the EIB falling behind other public financial institutions rating only fair on the Aid Transparency Index;1drecalls that the 2021 Transparency Policy runs counter to the presumption of disclosure; urges the EIB to swiftly implement the European Ombudsman’s recommendations of 25 April 2022;1e _________________ 1d https://www.publishwhatyoufund.org/the- index/2022/ 1e https://www.ombudsman.europa.eu/en/ne ws-document/en/155122

Amendment 136 #

Motion for a resolution
Paragraph 29

29. Welcomes the launch of the Development Finance Institutions Transparency Index in 2023 and that fact that the associated report ranks the EIB at a similar level to peer development finance institutions in a number of areas, including financial intermediaries and environmental, social and governance and accountability to communities; calls for clear and comprehensive information to be shared with other EU institutions, the European Parliament in particular;

Amendment 137 #

Alfred SANT, Margarida MARQUES, Aurore LALUCQ, Joachim SCHUSTER, Katarína ROTH NEVEĎALOVÁ, Eero HEINÄLUOMA, Costas MAVRIDES, Jonás FERNÁNDEZ

Motion for a resolution
Paragraph 30

30. Regrets the fact that women remain underrepresented in senior positions and in the core areas of activity at the EIB; recalls its position that more needs to be done to improve both its gender and geographical balance in this context;

Amendment 138 #

Motion for a resolution
Paragraph 30

~~30. Regrets the fact that women remain underrepresented in senior positions and in the core areas of activity at the EIB;~~deleted

Amendment 139 #

Motion for a resolution
Paragraph 30

30. ~~Regrets the fact that women remain underrepresented in~~Calls for the EIB's senior positions and ~~in the core~~key areas of activity ~~at the EIB~~to be staffed by people selected on the basis of merit, ability and experience;

Amendment 14 #

Alfred SANT, Margarida MARQUES, Aurore LALUCQ, Joachim SCHUSTER, Katarína ROTH NEVEĎALOVÁ, Eero HEINÄLUOMA, Costas MAVRIDES, Jonás FERNÁNDEZ

Motion for a resolution
Recital B a (new)

B a. whereas the EIB, that is owned by the 27 EU Member States, must always seek to support the EU objectives and, primarily, boost the Union potential in terms of job creation, economic growth and competitiveness; whereas that mandate comprehends the promotion of EU policies in third countries;

Amendment 140 #

Motion for a resolution
Paragraph 31 a (new)

31 a. Queries whether the EIB has the needed human resources in light of the ongoing expansion of its functions and responsibilities;

Amendment 141 #

Alfred SANT, Irene TINAGLI, Aurore LALUCQ, Katarína ROTH NEVEĎALOVÁ, Eero HEINÄLUOMA, Costas MAVRIDES, Jonás FERNÁNDEZ

Motion for a resolution
Paragraph 32

32. Expresses once more its serious concerns about allegations regarding harassment, the working environment and working conditions at the EIB; notes the March 2022 ruling by the General Court on a harassment case in the EIB [KF vs EIB (T-299/20)] in which the decision of the EIB President that no harassment took place was annulled; recognises that efforts have been made by the EIB to address these and other relevant staff issues; urges the EIB to ensure that a policy of zero-tolerance towards all types of harassment is effectively implemented, including preventive and protective measures and proper and reliable complaint and victim support mechanisms; urges the EIB’s management to engage in genuine dialogue with staff representatives in order to address their concerns; deplores the fact that no trade union is recognised at the EIB and that the staff delegation has no power to act in the case of negotiations; calls on the EIB management to observe at the very least core ILO values such as freedom of association and the right to collective bargaining; is concerned that the apparent dysfunctional relationship between the EIB’s management and its staff might have a negative impact on the Bank’s operations;

Amendment 142 #

Alfred SANT, Margarida MARQUES, Aurore LALUCQ, Katarína ROTH NEVEĎALOVÁ, Eero HEINÄLUOMA, Costas MAVRIDES, Jonás FERNÁNDEZ

Motion for a resolution
Paragraph 32

32. Expresses once more its serious concerns about allegations regarding harassment, the working environment and working conditions at the EIB; ~~recognises that efforts have been made by the EIB to address these and other relevant staff issues;~~ urges the EIB to ensure that a policy of zero- tolerance towards all types of harassment is effectively implemented, including preventive and protective measures and proper and reliable complaint and victim support mechanisms; urges the EIB’s management to engage in genuine dialogue with staff representatives in order to address their concerns;

Amendment 143 #

Motion for a resolution
Paragraph 33

33. Takes note of the EIB’s new anti- fraud policy and underlines the importance of inclusive cooperation when developing key anti-fraud policy tools; ~~not~~welcomes that the EIB has adopted and published the EIB Group Policy towards weakly regulated, non-transparent and non-cooperative jurisdictions and tax good governance, which is complimentary to the EIB Group Anti-Money Laundering and Combatting the Financing of Terrorism Policy;

Amendment 144 #

Alfred SANT, Aurore LALUCQ, Joachim SCHUSTER, Katarína ROTH NEVEĎALOVÁ, Costas MAVRIDES, Jonás FERNÁNDEZ

Motion for a resolution
Paragraph 33 a (new)

33 a. Requests that an outside review of the cost effectiveness of the EIB’s investment efforts during the last ten years be carried out, not least from the perspective of whether and how the EIB’s operations created significant value added that was directly relevant to the European Union’s growth and consolidation policies;

Amendment 145 #

Motion for a resolution
Paragraph 33 a (new)

33 a. Calls on the EIB to review its senior appointment procedures, and in particular to introduce safeguards against the direct transition of officials from political positions in the bank into senior management positions;

Amendment 146 #

Motion for a resolution
Paragraph 33 b (new)

33 b. Reiterates its call for the EIB to urgently review the division of labour within the Management Committee, and in particular to make sure that EIB Vice- Presidents never take the lead on projects emanating from their home countries, even if the Management Committee takes collective responsibility for its decisions; notes, furthermore, that it would be unthinkable in other EU institutions to routinely put members in charge of affairs concerning their home country, in view of the evident risk for conflicts of interest; emphasises numerous recommendations on this matter from EU institutions;

Amendment 147 #

Motion for a resolution
Paragraph 33 c (new)

33 c. Invites the EIB to fully implement all recommendations received from the European Ombudsman as regards follow- on activities of its former members of the Management Committee, as set out in the Ombudsman Decision of 27 July 2022 in Case 1016/2021/KR;1f _________________ 1f https://www.ombudsman.europa.eu/en/de cision/en/158894

Amendment 15 #

Motion for a resolution
Recital C

C. whereas in 2022 the EIB launched a new arm, EIB Global, to handle investments outside the EU; whereas given the many geopolitical challenges in 2022, the role of EIB Global was very important in terms of investment and of Europe’s position in the world; whereas this external action must be aligned with the EU policy objectives, namely regarding the Global Gateway;

Amendment 16 #

Motion for a resolution
Recital C

C. whereas in 2022 the EIB launched a new arm, EIB Global, to handle investments outside the EU in line with European Union strategies such as the Global Gateway and the Green Deal; whereas given the many geopolitical challenges in 2022, the role of EIB Global was very important in terms of investment and of Europe’s position in the world;

Amendment 17 #

Alfred SANT, Margarida MARQUES, Aurore LALUCQ, Joachim SCHUSTER, Katarína ROTH NEVEĎALOVÁ, Eero HEINÄLUOMA, Costas MAVRIDES, Jonás FERNÁNDEZ

Motion for a resolution
Recital C a (new)

C a. whereas the EIB has a significant role, namely through the European Investment Fund (EIF), on the support to European SMEs and their ability to access financial markets, from venture capital to micro-financing, guaranteeing therefore a strong and competitive Capital Markets Union;

Amendment 18 #

Motion for a resolution
Recital C a (new)

C a. whereas the prices of energy commodities, food, and other raw materials have reached unprecedented high levels and continue to be the source of economic instability in the EU’s economy;

Amendment 19 #

Alfred SANT, Margarida MARQUES, Aurore LALUCQ, Joachim SCHUSTER, Katarína ROTH NEVEĎALOVÁ, Eero HEINÄLUOMA, Costas MAVRIDES, Jonás FERNÁNDEZ

Motion for a resolution
Recital C b (new)

C b. whereas the EIB will support the REPowerEU Plan with an additional EUR 45 billion in loans and equity financing over the next five years;

Amendment 2 #

Caroline NAGTEGAAL, Engin EROGLU, Stéphanie YON-COURTIN, Olivier CHASTEL, Erik POULSEN, Gilles BOYER, Valérie HAYER, Georgios KYRTSOS

Motion for a resolution
Citation 1 a (new)

— having regard to Articles 2 and 3 of the Treaty on European Union,

Amendment 20 #

Alfred SANT, Margarida MARQUES, Joachim SCHUSTER, Katarína ROTH NEVEĎALOVÁ, Eero HEINÄLUOMA, Costas MAVRIDES, Jonás FERNÁNDEZ

Motion for a resolution
Recital C d (new)

C d. whereas a more integrated Capital Markets Union would ease the work of the EIB to unlock investment, boosting and diversifying investments in the real economy, in particular in SMEs, and triggering further cross-border equity investment and trade;

Amendment 21 #

Caroline NAGTEGAAL, Engin EROGLU, Stéphanie YON-COURTIN, Erik POULSEN, Gilles BOYER, Nathalie LOISEAU, Bart GROOTHUIS, Valérie HAYER, Ondřej KOVAŘÍK, Georgios KYRTSOS

Motion for a resolution
Recital C a (new)

C a. whereas the EIB eligibility list currently excludes equipment and infrastructure for military use; whereas investments for dual use are not excluded1a; _________________ 1a https://www.eib.org/en/publications/eib- eligibility-excluded-activities-and- excluded-sectors-list

Amendment 22 #

Alfred SANT, Margarida MARQUES, Joachim SCHUSTER, Katarína ROTH NEVEĎALOVÁ, Eero HEINÄLUOMA, Jonás FERNÁNDEZ

Motion for a resolution
Paragraph 1 a (new)

1 a. Appreciates the way the EIB is constantly ready to adapt and reinvent itself in line with the constantly changing EU policy requirements while respecting its long-term goals;

Amendment 23 #

Alfred SANT, Margarida MARQUES, Aurore LALUCQ, Joachim SCHUSTER, Katarína ROTH NEVEĎALOVÁ, Eero HEINÄLUOMA, Costas MAVRIDES, Jonás FERNÁNDEZ

Motion for a resolution
Paragraph 1 b (new)

1 b. Notes the persistent investment gap in the EU and the increased need of countercyclical investment as the EU enters its fourth year of crisis through the pandemic and the subsequent Russian invasion of Ukraine; in this regard, welcomes the EIB’s crucial role as a main tool in the EU’s investment policy to act where private financing is missing; calls on the EIB to assure the maximum level of additionality in real economy investment with the aim of fostering sustainable growth as well as social and regional cohesion when deciding over future financing;

Amendment 24 #

Alfred SANT, Margarida MARQUES, Aurore LALUCQ, Joachim SCHUSTER, Katarína ROTH NEVEĎALOVÁ, Eero HEINÄLUOMA, Costas MAVRIDES, Jonás FERNÁNDEZ

Motion for a resolution
Paragraph 2

2. Welcomes the EIB’s investment of EUR 72.4 billion of financing in 2022 and the bank’s focus on the EU’s long-term challenges of competiveness, productivity, climate change, a just transition that leaves nobody behind, sustainability, social cohesion and digital transformation;

Amendment 25 #

Motion for a resolution
Paragraph 2

2. Welcomes the EIB’s investment of EUR 72.4 billion of financing in 2022 and the bank’s focus on the EU’s long-term challenges of ~~competiveness, productivity~~social cohesion, climate change, sustainability, ~~social cohesion~~ and digital transformation;

Amendment 26 #

Motion for a resolution
Paragraph 2 a (new)

2a. Stresses that the EIB would be well advised to take into account the significant financing needs in the blue economy, which is a sector of economic growth and important scientific discoveries;

Amendment 27 #

Alfred SANT, Aurore LALUCQ, Katarína ROTH NEVEĎALOVÁ, Costas MAVRIDES, Jonás FERNÁNDEZ

Motion for a resolution
Paragraph 3

3. Notes that there is a need to prepare for the future and to plan for Ukraine’s longer-term reconstruction; believes that ~~alignment with EU policy priorities should become the key driver of the EIB’s future investment strategy in Ukraine~~the reconstruction of Ukraine's economy and infrastructure should become one of the EU's most important strategic objectives, the implementation of which will be crucial to the dynamic development of the European economy;

Amendment 28 #

Motion for a resolution
Paragraph 4

4. Welcomes the new Cohesion Orientation noting that the EIB should devote the majority of its resources to the promotion of economic, social and territorial convergence and that cohesion should be the overarching priority of its investment strategy; stresses the importance of the EIB’s advisory services role in preparing and implementing projects for clients with low administrative capacity; and in this context to help firms adapt towards changing EU policy goals especially those related to climate and digitalisation;

Amendment 29 #

Alfred SANT, Joachim SCHUSTER, Katarína ROTH NEVEĎALOVÁ, Costas MAVRIDES, Jonás FERNÁNDEZ

Motion for a resolution
Paragraph 4 a (new)

4 a. Notes the EIB's affirmation that challenges with access to finance for mid- caps in cohesion regions “are more structural”; calls on the EIB to address these structural barriers by adapting its approach so that SMEs and mid-caps in cohesion regions can also fully benefit from EIB financing;

Amendment 3 #

Alfred SANT, Aurore LALUCQ, Joachim SCHUSTER, Katarína ROTH NEVEĎALOVÁ, Costas MAVRIDES, Jonás FERNÁNDEZ

Motion for a resolution
Citation 4 a (new)

— having regard to the EIB energy lending criteria of 25 July 2013,

Amendment 30 #

Motion for a resolution
Paragraph 4 b (new)

4 b. Believes that the EIB needs to do more to adapt towards the very different social and economic scenarios in the diverse regions of the EU in order to increase the attractiveness of its funds comprehensively; in particular, expects the EIB to do more to address systemic deficiencies thus allowing all EU regions to benefit from EIB financial assistance;

Amendment 31 #

Alfred SANT, Aurore LALUCQ, Joachim SCHUSTER, Katarína ROTH NEVEĎALOVÁ, Costas MAVRIDES, Jonás FERNÁNDEZ

Motion for a resolution
Paragraph 4 c (new)

4 c. Reaffirms its position that the EIB needs to assure a broader geographical and sectoral allocation of its investments and to focus on adapting its methods for the areas where it is failing to do so by especially, intensifying its dialogue with local, social, economic and governmental actors when establishing regional and sectoral strategies;

Amendment 32 #

Alfred SANT, Aurore LALUCQ, Joachim SCHUSTER, Katarína ROTH NEVEĎALOVÁ, Eero HEINÄLUOMA, Costas MAVRIDES, Jonás FERNÁNDEZ

Motion for a resolution
Paragraph 4 d (new)

4 d. Reaffirms its position that the EIB can and needs to do more to address systemic deficiencies that prevent certain regions or countries from taking full advantage of EIB financial opportunities, inter alia by strengthening its efforts to expand its loan activities by providing technical assistance, capacity-building and advisory support, especially in innovation, digitalisation, infrastructure, SME support and projects aimed at generating high-quality employment, and by prioritising projects that reduce inequalities and promote social diversity and inclusion;

Amendment 33 #

Motion for a resolution
Paragraph 6

6. Welcomes the InvestEU agreements signed by the EIB and the Commission on 7 March 2022, on the basis of which up to 75 % of the EU budget guarantee and InvestEU Advisory Hub budget has been allocated to the EIB; welcomes the significant market demand and high uptake of the InvestEU programme;

Amendment 34 #

Jonás FERNÁNDEZ

Motion for a resolution
Paragraph 6 a (new)

6 a. Welcomes the involvement of the EIB in the EU Just Transition Mechanism in order to address the socioeconomic impact of the transition to a low-carbon economy and to generate new opportunities for sustainable development in the affected regions, such as coal and mining regions and others; invites the EIB to develop a communication and advisory strategy to increase the knowledge and attractiveness of these financial instruments among their potential beneficiaries;

Amendment 35 #

Motion for a resolution
Paragraph 7

7. Notes that the EIB is a highly leveraged institution; stresses that the EIB’s ‘triple A’ rating is an important asset that the EIB must preserve while performing its operations; stresses, in this context, the need to remain cautious, to properly assess the risks of the investments being made, and to be guided by economic rather than political or ideological considerations;

Amendment 36 #

Motion for a resolution
Paragraph 7

7. Notes that the EIB is a highly leveraged institution, and that this implies risks; stresses that the EIB’s ‘triple A’ rating is an important asset that the EIB must preserve while performing its operations;

Amendment 37 #

Enikő GYŐRI

Motion for a resolution
Paragraph 7 a (new)

7 a. Calls on the EIB to continue - especially in this challenging economic and financial environment - to carefully assess the potential risks during its lending activity;

Amendment 38 #

Motion for a resolution
Paragraph 7

7. Notes that the EIB ~~is a highly leveraged institution; stresses that the EIB’~~leverages its seed capital to multiply its impact; stresses that the EIB’s status as an institution backed up by the guarantee of its shareholders, EU Member States, contributes greatly to its ‘triple A’ rating, which is an important asset that enables the EIB ~~must preserve while performing its operation~~to take greater risks in funding public interest projects compared to private commercial banks; notes that if the EIB does not use its privileged status to also fund riskier projects, it will end up crowding out private lenders;

Amendment 39 #

Caroline NAGTEGAAL, Engin EROGLU, Stéphanie YON-COURTIN, Erik POULSEN, Gilles BOYER, Valérie HAYER, Georgios KYRTSOS

Motion for a resolution
Paragraph 7 a (new)

7 a. Emphasises the importance of adherence to the rule of law in the European Union, as enshrined in the EU Treaty; invites the EIB to align its activities with the Rule of Law conditionality mechanism;

Amendment 4 #

Motion for a resolution
Citation 37 a (new)

— having regard to the Commission communication of 1 February 2023 entitled ‘A Green Deal Industrial Plan for the Net-Zero Age’ (COM(2023)0062),

Amendment 40 #

Motion for a resolution
Paragraph 8

8. Invites the shareholders of the EIB to reflect on the optimal equity structure; calls on the shareholders of the EIB to consider a capital increase in order to maintain and enhance the EIB's capacity to act while preserving the EIB's credit rating;

Amendment 41 #

Motion for a resolution
Paragraph 8

8. Invites the shareholders of the EIB to reflect on the optimal equity structure; calls on the shareholders of the EIB to consider a ~~capital increase~~mission-oriented capital increase, ensuring that its activities do not risk crowding out private lenders;

Amendment 42 #

Motion for a resolution
Paragraph 8

8. Invites the shareholders of the EIB to reflect on the optimal equity structure~~; calls on the shareholders of the EIB~~ and to consider a capital increase;

Amendment 43 #

Alfred SANT, Aurore LALUCQ, Katarína ROTH NEVEĎALOVÁ, Eero HEINÄLUOMA, Jonás FERNÁNDEZ

Motion for a resolution
Paragraph 8 a (new)

8 a. Notes that some of the EIB's most successful programmes rely on partnerships with the private sector by crowding in private investment, for instance by taking higher-risk tranches of loans;

Amendment 44 #

Motion for a resolution
Paragraph 8 b (new)

8 b. Stresses that public budgets and public banks will not be able to bridge the investment gap in the energy sector alone especially when considering the deplorable fact that large EU banks are still exposed to EUR 223 billion in fossil fuel assets, and that the EU is still lagging behind its established climate goals;

Amendment 45 #

Alfred SANT, Margarida MARQUES, Aurore LALUCQ, Joachim SCHUSTER, Katarína ROTH NEVEĎALOVÁ, Eero HEINÄLUOMA, Costas MAVRIDES, Jonás FERNÁNDEZ

Motion for a resolution
Paragraph 8 a (new)

8 a. Notes the ongoing levels of high inflation and in this regard asks the EIB to assess the possible increased financial needs of ongoing projects;

Amendment 46 #

Motion for a resolution
Paragraph 8 a (new)

8 a. Calls for the adaptation of its derisking architecture for green assets to improving risk-reward ratios for projects with limited bankability;

Amendment 47 #

Enikő GYŐRI

8. Invites the shareholders of the EIB to reflect on the optimal equity structure; ~~calls on the shareholders of the EIB to consider a capital increase;~~

Amendment 48 #

Motion for a resolution
Paragraph 8

8. Invites the shareholders of the EIB to reflect on the optimal equity structure; ~~calls on the shareholders of the EIB to consider a capital increase;~~

Amendment 49 #

Enikő GYŐRI

Motion for a resolution
Paragraph 7 b (new)

7 b. Considers that in light of the current circumstances, the use of available financial instruments is reasonable while increasing the capital is not timely;

Amendment 5 #

Alfred SANT, Margarida MARQUES, Katarína ROTH NEVEĎALOVÁ, Eero HEINÄLUOMA

Motion for a resolution
Citation 37 b (new)

— having regard to the Commission communication of 1 December 2021 entitled ‘The Global Gateway’,

Amendment 50 #

Motion for a resolution
Paragraph 8 c (new)

8 c. Reiterates the remarks by EIB Vice President Kris Peeters that commercial banks across the EU will be prone to court cases due to failing due diligence processes and climate transition plans; calls for a level playing field and legal certainty on EU due diligence requirements through the swift adoption of the corporate sustainability due diligence directive; calls on the EIB to commit to incorporating due diligence standards to address and mitigate adverse impacts of its investment decisions on human rights and the environment;

Amendment 51 #

Motion for a resolution
Paragraph 9

9. Praises the EIB’s engagement in Ukraine, which amounted to EUR 1.7 billion of disbursed funds in 2022; stresses the importance of continuing to support Ukraine and that the EIB should play an important role in the reconstruction of Ukraine's economy and infrastructure in the future;

Amendment 52 #

Motion for a resolution
Paragraph 10

10. Welcomes the fact that the EIB supports and, in line with the Operational Plan for 2023-2025, will continue to support the EU’s defence ~~industry~~capabilities and joint procurement on the basis of the dual- use principle; while avoiding industrial overcapacities, duplication and fragmentation; stresses that ammunition and weapons, including explosives and sporting weapons, as well as equipment or infrastructure dedicated to military/police use are part of the EIB’s Eligibility, Excluded Activities and Excluded sectors list1awhich is essential for continuing to attract investors with similar exclusion policies in place; _________________ 1a https://www.eib.org/attachments/publicati ons/eib_eligibility_excluded_activities_en. pdf

Amendment 53 #

Motion for a resolution
Paragraph 10

10. Welcomes the fact that the EIB supports and, in line with the Operational Plan for 2023-2025, will continue to support the EU defence industry and joint procurement on the basis of the dual-use principle; welcomes the EIB's new Strategic European Security Initiative (SESI) to strengthen European security and defence by mobilising investment in research, development and innovation (RDI), civilian security infrastructure, and cutting-edge technology projects;

Amendment 54 #

Caroline NAGTEGAAL, Engin EROGLU, Stéphanie YON-COURTIN, Olivier CHASTEL, Erik POULSEN, Gilles BOYER, Valérie HAYER, Ondřej KOVAŘÍK, Georgios KYRTSOS

Motion for a resolution
Paragraph 10 a (new)

10 a. Welcomes the EIB Strategic European Security Initiative (SESI), which will make available up to 6 billion euros by 2027 for dual-use research, RDI, civilian security infrastructure and cutting-edge technology projects;

Amendment 55 #

Motion for a resolution
Paragraph 10

Amendment 56 #

Engin EROGLU

Motion for a resolution
Paragraph 10

10. Welcomes the fact that the EIB supports and, in line with the Operational Plan for 2023-2025, will continue to support the EU defence industry and joint procurement on the basis of the dual-use principle; regrets that bank financing for the defence industry has been significantly hampered in recent years and calls on the EIB to close the emerging gap in the interest of a sustainable defence capability;

Amendment 57 #

Motion for a resolution
Paragraph 10 a (new)

10a. Is concerned that European regulations, such as the ecological taxonomy or the proposed social taxonomy, are undermining the funding of the continent's defence industries;

Amendment 58 #

Caroline NAGTEGAAL, Engin EROGLU, Stéphanie YON-COURTIN, Olivier CHASTEL, Erik POULSEN, Gilles BOYER, Valérie HAYER, Ondřej KOVAŘÍK, Georgios KYRTSOS

Motion for a resolution
Paragraph 10 b (new)

10 b. Invites the EIB to expand the SESI program and step up its investments in European security and defence further, including in the area of military mobility; considers that the dual-use criterion currently impedes making the necessary investments;

Amendment 59 #

Caroline NAGTEGAAL, Engin EROGLU, Stéphanie YON-COURTIN, Olivier CHASTEL, Erik POULSEN, Gilles BOYER, Nathalie LOISEAU, Bart GROOTHUIS, Valérie HAYER, Ondřej KOVAŘÍK, Georgios KYRTSOS

Motion for a resolution
Paragraph 10 c (new)

10 c. Regrets the exclusion of ammunition, weapons, equipment and infrastructure for military use from the list of eligible investments, given that investment in these areas is critical in order to sustain European security; considers that any military product is not unethical in and of itself and that its use should always be aligned with international law; calls on the EIB to include investments in defence products and activities in its eligibility list;

Amendment 6 #

Motion for a resolution
Citation 37 c (new)

— having regard to the EIB Investment Report 2022/2023 “Resilience and renewal in Europe” published on 28 February 2023,

Amendment 60 #

Motion for a resolution
Paragraph 11

11. Welcomes the EIB’s increasing efforts to support food security, energy security and connectivity in the context of the ongoing war; underlines the fact that the war has created a severe humanitarian crisis and has had a fundamental impact on the economic and security situation in the EU and its neighbourhood, and that the changes in supply chains and trade and economic relations caused by the war should be taken into account in future investment planning; stresses in particular the need to build Europe's energy independence so that it is resilient to the Russian threat;

Amendment 61 #

Motion for a resolution
Paragraph 11

Amendment 62 #

Motion for a resolution
Paragraph 12

12. Expresses its support for EIB Global and stresses its crucial importance in assisting Ukraine, paving the way for a swift reconstruction;

Amendment 63 #

Motion for a resolution
Paragraph 12

12. ~~Exp~~Stresses ~~its support for EIB Global and stresses its~~the crucial importance of EIB Global in assisting Ukraine;

Amendment 64 #

Motion for a resolution
Paragraph 12 a (new)

12 a. Underlines the important role of the EIB in supporting EU Members States and third countries, namely the ones that are candidates to the EU, in the access to risk capital markets, expanding the opportunities for investment;

Amendment 65 #

Motion for a resolution
Paragraph 13

13. Recalls that small and medium- sized enterprises (SMEs) are the backbone of Europe’s economy; recalls that the EU’s 23 million SMEs account for 99 % of all businesses and provide around three quarters of all jobs; recalls that these companies have been hardest hit by the effects of the COVID-19 pandemic, while the energy crisis and the consequences of Russia's war in Ukraine pose further challenges for them;

Amendment 66 #

Motion for a resolution
Paragraph 14

14. Welcomes the fact that in 2022, the EIB provided financing amounting to a total investment of EUR 16.35 billion for SMEs and mid-caps;. Overall EIB Group operations providing debt support to SMEs amounted to almost EUR 20 billion in annual net signatures over the period 2010-2020, according to the EIB's assessment.

Amendment 67 #

Caroline NAGTEGAAL, Engin EROGLU, Stéphanie YON-COURTIN, Olivier CHASTEL, Erik POULSEN, Gilles BOYER, Valérie HAYER, Ondřej KOVAŘÍK, Georgios KYRTSOS

Motion for a resolution
Paragraph 14

14. Welcomes the fact that in 2022, the EIB provided financing amounting to a total investment of EUR 16.35 billion for SMEs and mid-caps; calls on the EIB to reflect on ways to facilitate its support to SME's further, especially for smaller financing projects;

Amendment 68 #

Motion for a resolution
Paragraph 15

15. Highlights the fact that support to SMEs and mid-caps must be increased further from current levels, particularly in the context of high energy prices and rising raw material costs; stresses that SMEs often have limited administrative resources and so benefit from having financing channels that are easy to access; therefore calls on the EIB to design its programmes in a way that avoids unnecessary red tape and regulatory burdens thus making them as accessible as possible to SMEs;

Amendment 69 #

Motion for a resolution
Paragraph 15

15. Highlights the fact that support to SMEs and mid-caps must be increased further from current levels, particularly in the context of high energy prices and rising raw material costs; stresses that SMEs often have limited administrative resources and pay more than large companies to borrow money since they must accept bank loans with poorer terms, and so benefit from having financing channels that are easy to access;

Amendment 7 #

Motion for a resolution
Citation 48 a (new)

— having regard to the 'EIB Investment Report 2022-2023: Resilience and renewal in Europe',

Amendment 70 #

Motion for a resolution
Paragraph 15

15. Highlights the fact that support to SMEs and mid-caps must be increased further from current levels, particularly in the context of high energy prices and rising raw material costs; stresses that SMEs often have limited administrative resources and so benefit from having financing channels that are easy to access; calls on the EIB to develop a long-term strategy to support the SME sector in the EU;

Amendment 71 #

Alfred SANT, Aurore LALUCQ, Joachim SCHUSTER, Katarína ROTH NEVEĎALOVÁ, Eero HEINÄLUOMA, Costas MAVRIDES, Jonás FERNÁNDEZ

Motion for a resolution
Paragraph 15

15. Highlights the fact that support to SMEs and mid-caps must be increased further from current levels, particularly in the context of high energy prices ~~and~~, rising raw material costs, and higher financing costs given the raise of interest rates; stresses that SMEs often have limited administrative resources and so benefit from having financing channels that are easy to access;

Amendment 72 #

Motion for a resolution
Paragraph 15

15. Highlights the fact that support to SMEs and mid-caps must be increased further from current levels, particularly in the context of high energy prices ~~and~~, rising raw material costs and growing borrowing costs; stresses that SMEs often have limited administrative resources and so benefit from having financing channels that are easy to access;

Amendment 73 #

Alfred SANT, Margarida MARQUES, Aurore LALUCQ, Joachim SCHUSTER, Katarína ROTH NEVEĎALOVÁ, Eero HEINÄLUOMA, Costas MAVRIDES, Jonás FERNÁNDEZ

Motion for a resolution
Paragraph 16

16. Reiterates its call on the EIB to complement efforts to build a data-driven society, with a particular focus on SMEs’ competitiveness and to focus its investment in this field towards bridging digital divides both within the EU, as well as between the EU and other technologically more advanced world regions;

Amendment 74 #

Alfred SANT, Katarína ROTH NEVEĎALOVÁ, Costas MAVRIDES, Jonás FERNÁNDEZ

Motion for a resolution
Paragraph 16 a (new)

16 a. Notes that the EIB’s approach vis- à-vis small businesses needs a revision because of its customary reluctance to fund projects with a significant risk component or to deploy mechanisms that would compensate for this problem;

Amendment 75 #

Motion for a resolution
Paragraph 16

~~16. Reiterates its call on the EIB to complement efforts to build a data-driven society, with a particular focus on SMEs’ competitiveness;~~deleted

Amendment 76 #

Alfred SANT, Margarida MARQUES, Aurore LALUCQ, Joachim SCHUSTER, Katarína ROTH NEVEĎALOVÁ, Eero HEINÄLUOMA, Costas MAVRIDES, Jonás FERNÁNDEZ

Motion for a resolution
Paragraph 17

17. Stresses the need for the EIB to have a strong focus on start-ups and projects directed at tackling the growing problem of youth unemployment; and regional inequality within and across Member States;

Amendment 77 #

Motion for a resolution
Paragraph 17

17. Stresses the need for the EIB to have a strong focus on start-ups and projects directed at tackling the growing problem of youth unemployment in the context of creating secure and high- quality jobs;

Amendment 78 #

Motion for a resolution
Paragraph 17 a (new)

17 a. Urges the EIB to increase support directed at the scale-up of European start- ups, including through taking greater risks in disbursing venture capital to ensure that European start-ups can scale in Europe rather than outside of the EU, in line with its European Tech Champions Initiative;1b _________________ 1b https://www.eib.org/en/press/all/2022- 083-eib-group-supports-the-pan- european-scale-up-initiative-to-promote- tech-champions

Amendment 79 #

Lídia PEREIRA

Motion for a resolution
Paragraph 17 a (new)

17 a. Recalls that digitalisation and decentralization are important trends in financial markets and in the banking sector and calls, therefore, the EIB to focus on investments on sustainable, innovative and future-driven projects;

Amendment 8 #

Motion for a resolution
Recital A a (new)

A a. whereas the activities of the European Central Bank focus on the following priority areas: climate and environment (including sustainable energy and natural resources, and sustainable cities and regions), cohesion, innovation, digital and human capital, and small and medium-sized enterprises;

Amendment 80 #

Motion for a resolution
Paragraph 17 a (new)

17 a. points out that the back bone of a successful industrial policy, especially for SME's, is stable base load energy supply; highlights the merits of and the innovation in nuclear power in this regard;

Amendment 81 #

Motion for a resolution
Paragraph 18

18. Notes that the EIB Group Climate Bank Roadmap 2021-2025 outlines the EIB’s goals for climate finance that supports the Green Deal and will help make the EU carbon-neutral by 2050; calls for the EIB, when making climate-related investments, to be particularly vigilant in assessing their effectiveness and their real impact on achieving the objectives of the Green Deal; warns against rash investments in inefficient and economically unviable solutions;

Amendment 82 #

Alfred SANT, Margarida MARQUES, Joachim SCHUSTER, Katarína ROTH NEVEĎALOVÁ, Eero HEINÄLUOMA, Costas MAVRIDES, Jonás FERNÁNDEZ

Motion for a resolution
Paragraph 18 a (new)

18 a. Awaits the review of the Climate Bank Roadmap ahead of COP28; expects full alignment with the 1.5 degree pathway including the exclusion of blue hydrogen infrastructures and road and highway financing and the obligation of a solid assessment of less carbon intensive alternatives and ‘Scope 3’ emissions;

Amendment 83 #

Motion for a resolution
Paragraph 18 a (new)

18 a. Notes the Commission’s proposal to work with the European Investment Bank and other InvestEU implementing partners to seek ways to scale up support to investment in the net-zero industry supply chain, including via the setting up of blending operations;

Amendment 84 #

Motion for a resolution
Paragraph 18 a (new)

18 a. Recalls the need for Europe to invest an estimated EUR 130 billion per year to deliver on environmental objectives;

Amendment 85 #

Alfred SANT, Margarida MARQUES, Aurore LALUCQ, Joachim SCHUSTER, Katarína ROTH NEVEĎALOVÁ, Costas MAVRIDES, Jonás FERNÁNDEZ

Motion for a resolution
Paragraph 19

19. Encourages the EIB to use its operations to facilitate and speed up the implementation of the goals of the European Green Deal, ~~particularly because the affordability and security of food has deteriorated worldwide~~taking into account the most recent state of knowledge on climate change, its widespread impacts and risks, and climate change mitigation and adaptation, as well as the increased urgency for the EU to become independent from fossil fuels, and the globally deteriorated affordability and security of supply of food in the context of the ongoing war in Ukraine;

Amendment 86 #

Motion for a resolution
Paragraph 19

19. Encourages the EIB to use its operations to facilitate the implementation of the goals of the Green Deal, ~~particularly because~~aiming at an inclusive and fair climate transition; furthermore calls for these goals to be combined with the affordability and security of food which has deteriorated worldwide in the context of the ongoing war in Ukraine;

Amendment 87 #

Motion for a resolution
Paragraph 19

19. Encourages the EIB to use its operations to facilitate the implementation of the goals of the Green Deal and EU energy independence, particularly because the affordability and security of food and energy carriers has deteriorated worldwide in the context of the ongoing war in Ukraine;

Amendment 88 #

Motion for a resolution
Paragraph 19

19. Encourages the EIB to use its operations to facilitate the implementation of the goals of the Green Deal and a Just Transition, particularly because the affordability and security of food has deteriorated worldwide in the context of the ongoing war in Ukraine;

Amendment 89 #

Motion for a resolution
Paragraph 19

19. Encourages the EIB to use its operations to ~~facilitate the implementation of the goals of the Green Deal, particularly because the affordability~~strengthen states' food sovereignty, against the backdrop of rising prices and specu~~rity of food has deteriorated worldwide~~lation on agricultural commodities in the context of the ongoing war in Ukraine;

Amendment 9 #

Motion for a resolution
Recital A a (new)

A a. whereas under the Articles 41 - 43 of the Euratom Treaty, the EIB has a legal base to support nuclear projects for civil purposes;

Amendment 90 #

Motion for a resolution
Paragraph 19 a (new)

19 a. Notes that the EIB has a supportive approach towards nuclear energy as outlined in its lending criteria of 25 July 2013; invites the EIB to look into the economic and decarbonisation potential of new nuclear technologies;

Amendment 91 #

Motion for a resolution
Paragraph 20

20. Welcomes the fact that the EIB is the world’s largest multi-currency issuer of green bonds; ~~points out that increasing the proportion of euro-denominated bonds would further strengthen the international role of the euro;~~

Amendment 92 #

Motion for a resolution
Paragraph 20

20. Welcomes the fact that the EIB is the world’s largest multi-currency issuer of green bonds; points out that increasing the proportion of euro-denominated bonds would further strengthen the international role of the euro;deleted

Amendment 93 #

21. ~~Welcomes the fact~~Notes that 58.3 % of lending in 2022 was climate- and environment- related, up from 50.8 % in 2021;

Amendment 94 #

Caroline NAGTEGAAL, Stéphanie YON-COURTIN, Olivier CHASTEL, Erik POULSEN, Gilles BOYER, Valérie HAYER, Ondřej KOVAŘÍK, Georgios KYRTSOS

Motion for a resolution
Paragraph 21

21. ~~Welcomes the fac~~Points out that 58.3 % of lending in 2022 was climate- and environment- related, up from 50.8 % in 2021;

Amendment 95 #

Motion for a resolution
Paragraph 21 a (new)

21 a. Emphasises the importance of investing in low carbon energy sources such as hydrogen, CCS and nuclear energy; welcomes in this regard the EIB's contribution to REPowerEU in the form of an additional 30 billion euros in investments; highlights that nuclear energy is free of CO2 emissions and taxonomy-aligned; welcomes in this regard the EIB's activities in this field and encourages the bank to step up its efforts;

Amendment 96 #

Alfred SANT, Katarína ROTH NEVEĎALOVÁ, Costas MAVRIDES, Jonás FERNÁNDEZ

Motion for a resolution
Paragraph 21 a (new)

21 a. Calls on the EIB to develop a methodology and an estimation of the green funding gap in the EU, differentiating the gap according to public and private funding sources;

Amendment 97 #

Motion for a resolution
Paragraph 22 a (new)

22 a. Notes the role that the EIB can play when it comes to investment in deep offshore renewables, specifically towards the design of instruments that could help get such projects closer to the market; in this background, welcomes the investment done in offshore floating wind farms in the French ‘Port-la-Nouvelle’ harbour and hopes that this investment can serve as a model for the rest of the Mediterranean region;

Amendment 98 #

Motion for a resolution
Paragraph 22 a (new)

22 a. Worries that recent changes to the EIB’s PATH framework reduce its effectiveness in driving decarbonisation; underscores that as a matter of priority investments under REPowerEU should not develop lock in effects through fossil infrastructure;

Amendment 99 #

Motion for a resolution
Paragraph 22 b (new)

22 b. Reiterates its call to only work with clients and financial intermediaries that have credible decarbonisation plans, including short term targets consistent with the 1,5 degree target; opposes the exemptions granted under the PATH framework under RepowerEU; calls for a halt to fossil fuels financing;

source: 745.523

2023/04/03 BUDG 73 amendments...

Amendment 1 #

Draft opinion
Paragraph -1 (new)

-1. Highlights the fundamental role of the EIB as the EU’s public bank and as the only international financial institution entirely owned by EU Member States and fully guided by EU policies and standards in supporting the social and economic recovery and targeting investments for the materialisation of the Union’s objectives;

Amendment 10 #

Draft opinion
Paragraph 2

2. Welcomes the financial assistance provided to Ukraine; notes the EIB’s engagement in Ukraine complements EU budget finance under MFA and the new MFA+; emphasizes the fact that EIB finance is often linked to concrete projects with high socio-economic impact, channelling EU technical expertise to these projects and enabling a higher degree of leveraging of EU budget funds; calls for additional budgetary resources to allow for continued EU guarantees for projects in Ukraine under NDICI and for new initiatives to increase EIB lending in Ukraine in support of the recovery and reconstruction;

Amendment 11 #

Draft opinion
Paragraph 2

2. Welcomes the financial assistance provided to Ukraine; stresses the enormous social and economic consequences deriving from the COVID- 19 crisis followed by the invasion of Ukraine and their impact on fair, inclusive and sustainable growth, investment, resilience, employment, education and socio-economic inequalities;

Amendment 12 #

Draft opinion
Paragraph 2

2. Welcomes the financial assistance provided to Ukraine, including the 1.72 billion euros of repurposed loans to Ukraine in response to Russia's war;

Amendment 13 #

Matteo GAZZINI, Valentino GRANT, Eric MINARDI

Draft opinion
Paragraph 2 a (new)

2 a. In the context of a worsening economic outlook and increased global competition, expects the EIB to address constraints to EU competitiveness such as high energy prices, lack of skills and insufficient investments into innovation and new technologies;

Amendment 14 #

Draft opinion
Paragraph 2 a (new)

2 a. Welcomes the EIB's decision to invest EUR 2.1 billion in the modernisation of the Palermo-Catania line, which will reduce the current travel times by a third, linking the two cities with a direct two-hour rail service;

Amendment 15 #

Draft opinion
Paragraph 2 a (new)

2 a. Welcomes that 58% of all new EIB loans in 2022 will finance climate and environmental sustainability as well as a record issuance of €19.9 billion in green bonds or sustainability bonds;

Amendment 16 #

Draft opinion
Paragraph 2 b (new)

2 b. Considers InvestEU an important investment tool bringing much needed investment into key areas; however, invites the EIB to assess whether the geographical distribution of financing under InvestEU is balanced;

Amendment 17 #

Draft opinion
Paragraph 2 b (new)

2 b. Calls on the EIB to develop a methodology and an estimate of the green funding gap in the EU identifying potential funding sources (public/private) also;

Amendment 18 #

Matteo GAZZINI, Valentino GRANT

Draft opinion
Paragraph 3

3. Awaits the review of the Climate Bank Roadmap ahead of COP28; expects full alignment with the 1.5 degree pathway, including the exclusion of blue hydrogen infrastructure and road and highway financing, and the requirement to conduct a solid assessment of less carbon-intensive alternatives and ‘Scope 3’ emissions; notes that the EIB has a supportive approach towards nuclear energy as outlined in its lending criteria of 25 July 2013; invites the EIB to look into the economic and decarbonisation potential of new nuclear technologies; reminds that cleantech start-ups have massive capital needs from day one; highly welcomes the EIB's contribution to support the REPowerEU Plan with an additional €30 billion in loans and equity financing over the next five years; notes these additional funds will be directed to renewables, energy efficiency, grids and storage, electric- vehicle charging infrastructure, and breakthrough technologies, such as low- carbon hydrogen;

Amendment 19 #

Draft opinion
Paragraph 3

3. ~~Awaits~~Takes note of the review of the Climate Bank Roadmap ahead of COP28; expects full alignment with the 1.5 degree pathway, including the exclusion of blue hydrogen infrastructure and road and highway financing, and the requirement to conduct a solid assessment of less carbon-intensive alternatives and ‘Scope 3’ emissmphasises, however, that climate ambitions should not call into question the need to achieve an adequate level of energy security in order to successfully achieve a fast and stable independence of European countries from the Russian Federations;

Amendment 2 #

Draft opinion
Paragraph 1

1. Reiterates its call for a capital increase ~~and~~to enable more long-term loans and innovative instruments to finance projects with great potential for innovation gains in European key policy areas like digitalisation and the green transformation; welcomes that the EIB supported 430 000 SMEs with more than 16 billion euro; however calls on the EIB to provide additional growth capital to enable SMEs to scale up their operations; stresses that the European Investment Bank (EIB) must maintain its ‘AAA’ rating and retain the confidence of the capital markets;

Amendment 20 #

Draft opinion
Paragraph 3

3. ~~Awaits~~Looks forward to the review of the Climate Bankd Roadmap ahead of COP28; expects it to make the EIB fully align~~ment~~ed with the 1.5 degree pathway~~, including the exclusion of blue hydrogen infrastructure and road and highway financing, and the requirement to conduct~~; calls for an exclusion of road and highway financing, as well as fossil-based hydrogen infrastructures; reiterates its call for the review to include a solid assessment of less carbon- intensive alternatives and ‘Scope 3’ emissions; for each project; Recalls that the longstop date for non-Paris-aligned operations was the end of 2022, expects the EIB to report on all signatures taken since the adoption of the Climate Bank Roadmap;

Amendment 21 #

Draft opinion
Paragraph 3

Amendment 22 #

Draft opinion
Paragraph 3

3. AWelcomes that the Bank has already met its target to devote at least half of its resources to climate action and environmental sustainability reaching €36.5 billion in investments in 2022; awaits the review of the Climate Bank Roadmap ahead of COP28; expects full alignment with the 1.5 degree pathway, ~~including the exclusion of blue hydrogen infrastructure and road and highway financing,~~ and the requirement to conduct a solid assessment of less carbon-intensive alternatives and ‘Scope 3’ emissions;

Amendment 23 #

Draft opinion
Paragraph 3

3. Awaits the review of the Climate Bank Roadmap ahead of COP28; expects full alignment with the 1.5 degree pathway, ~~including the exclusion~~and expects the EIB be consistent with the goal of achieving net zero emissions by 2050 at the latest; calls for a limited share of blue hydrogen infrastructure ~~and road and highway~~ financing, and the requirement to conduct a solid assessment of less carbon-intensive alternatives and ‘Scope 3’ emissions;

Amendment 24 #

Draft opinion
Paragraph 3

3. Awaits the review of the Climate Bank Roadmap ahead of COP28; expects full alignment with the 1.5 degree pathway~~, including the exclusion of blue hydrogen infrastructure and road and highway financing,~~ and the requirement to conduct a solid assessment of less carbon-intensive alternatives ands well as ‘Scope 3’ emissions;

Amendment 25 #

Draft opinion
Paragraph 3 a (new)

3 a. Calls on the EIB to support projects that deliver on the implementation of the European Pillar of Social Rights and the UN Sustainable Development Goals;

Amendment 26 #

Draft opinion
Paragraph 4

4. ~~Calls for the EIB’~~Welcomes the Bank's planned increase of own higher-risk projects, as detailed in the Operational Plan 2023- 2025; invites the EIB to evaluate whether its derisking architecture for green assets toshould be adapted to take account of the mixed records of commercial viability and the risks associated with public finance, with a view to improving the risk-reward ratios for projects with limited bankability1; calls on the EIB to use its derisking activities to steer private finance towards achieving a just transition. _________________ 1 D’Aprile, P., Engel, H., Helmcke, S., Hieronimus, S., Nauclér, T., Pinner, D., Van Gendt, G., Walter, D. and Witteveen, M., How the European Union could achieve net-zero emissions at net-zero cost, McKinsey & Company, December 2020.

Amendment 27 #

Draft opinion
Paragraph 4

4. Calls ~~for~~on the EIB’ to adapt its derisking architecture for green assets to ~~be adapted to take account of~~ the mixed records of commercial viability ~~and the risks associated with~~of investments needed for climate transition, and to take stock of risks associated with directing concessional loans and public finance~~, with a view~~ to improving ~~the~~ risk-reward ratios for projects with limited bankability 1; _________________ 1 D’Aprile, P., Engel, H., Helmcke, S., Hieronimus, S., Nauclér, T., Pinner, D., Van Gendt, G., Walter, D. and Witteveen, M., How the European Union could achieve net-zero emissions at net-zero cost, McKinsey & Company, December 2020.

Amendment 28 #

Charles GOERENS, Olivier CHASTEL

Draft opinion
Paragraph 4 a (new)

4 a. Calls on the EIB to support and improve the risk-reward ratios of investment in smaller scale green infrastructure projects. Invites the EIB to draw the lessons from the implementation of products such as the climate and infrastructure funds including the relevance of intermediated equity to achieve such objective

Amendment 29 #

Draft opinion
Paragraph 4 a (new)

4 a. Takes note of the EIB’s derisking architecture for green assets and its revision with a view to commercial viability and risks associated with public finance, in particular when it concerns projects with limited bankability,

Amendment 3 #

Draft opinion
Paragraph 1

1. Reiterates its call for a capital increase and stresses that the European Investment Bank (EIB) ~~must~~and to maintain ~~its ‘AAA’~~'AAA' high credit rating, and ~~retain the confidence of the capital marke~~full confidence of the capital market in all its activities in light of its increasing role in implementing Union policies and within and outside the Union; expects the EIB to refrain from investments that could deter investors and increase its overall financing costs;

Amendment 30 #

Draft opinion
Paragraph 5

5. ~~Reiterates its call~~Notes the Paris Alignment for Counterparties (PATH) framework in support of REPowerEU provides an exception for EIB to work ~~only~~ with c~~lients an~~ompanies still involved fin~~ancial intermediaries that have credible decarbonisation plans; opposes~~ activities deemed incompatible with the Paris Agreement, such as oil and gas majors, in the context of highly innovative green projects; welcomes the decision by EIB to extend these exemptions ~~granted under the Paris Alignment for Counterparties (PATH) framework in support of REPowerEU; calls for a halt to fossil fuel financing;~~ to all renewable energy projects and electric-vehicle charging in response to the emergency energy situation in the EU following the war of agression in Ukraine and the objective of ending dependency on Russian fossil-fuel imports; reminds that all recipients of EIB financing are contractually required to create and publish a credible Paris- alignment strategy (“decarbonization plans”), which will include mid-term, rolling, quantitative emission reduction targets and options over a longer time horizon to achieve carbon neutrality towards mid-century;

Amendment 31 #

Draft opinion
Paragraph 5

5. Reiterates its call t~~o work only~~hat the EIB should only work with clients and financial intermediaries that have a credible decarbonisation plans~~; opposes the exemptions granted under the Paris Alignment for Counterparties (~~ including short term targets compatible with 1,5 degree target put in place at the earliest, and by 2025 at the latest; calls on the EIB to systematically evaluate the credibility of the decarbonisation plans applying decarbonisation criteria compatible with 1,5 degree target before signing any new financial commitment; welcomes that the EIB’s clean energy financing reached a record €19.4 billion in 2022 as well as the decision to upscale the energy lending volume and to make loans more attractive; however, is extremely concerned about the exemptions granted under the PATH) framework ~~in support of REPowerEU~~under RepowerEU which will allow funding for companies with no decarbonisation plans and therefore increase oil drilling and engagement in the most polluting forms of unconventional fossil fuel production - coal mines and power plants, extracting oil from tar sands, drilling in the Arctic or fracking ; calls for a ~~halt~~full stop to fossil fuels financing; , in all forms;

Amendment 32 #

Draft opinion
Paragraph 5

5. Reiterates its call to work only with clients ~~and~~that have credible decarbonisation plans and for corporate clients, as well as, financial intermediaries t~~hat~~o have ~~credible decarbonisation plans; opposes~~decarbonisation plans, as soon as possible, and by 2025 at the latest; underlines that rapid, large scale investment is needed for the EU to transition to a climate neutral economy; in this context, welcomes EIB support to REPowerEU of 30 billion euros; believes, however, that the exemptions granted under the Paris Alignment for Counterparties (PATH) framework, in support of REPowerEU~~; calls for a halt to fossil fuel financing~~, must be temporary and well justified; calls on the EIB to ensure that EIB support does not become a subsidy to fossil fuel companies, which have made immense profits on the back of high energy prices; therefore, calls on the Bank to prioritise projects with non-fossil fuel companies, wherever possible; welcomes the Bank's halt to fossil fuel financing and considers that the EIB should limit to a minimum the indirect financing of fossil fuels through its support to REPowerEU;

Amendment 33 #

Charles GOERENS, Olivier CHASTEL

5. ~~Reiterate~~Welcomes the Paris Alignment of counterparties and expects its cafull to work only with clients and financial intermediaries that have credible decarbonisation plans; opposes the exemptions granted under the Paris Alignment for Counterparties (PATH) framework in support of REPowerEU; calls for a halt toimplementation; reiterates its call for financial intermediaries and not only corporate clients to have decarbonisation plans as soon as possible and by the end of 2025 at the latest; stresses that such new requirements must not be to the detriment of access to finance for SMEs; welcomes the EIB's response to the emergency energy situation in the EU by adapting the Paris Alignment for Counterparties (PATH) framework in order to be able to speed up the green transition and to end Europe's dependencies on fossil -fuel ~~financing~~s imports, including from Russia;

Amendment 34 #

Matteo GAZZINI, Valentino GRANT, Eric MINARDI, Joachim KUHS

Draft opinion
Paragraph 5

5. ~~Reiterates it~~Stresses that if the Parliament's call to work only with clients and financial intermediaries that have ~~credible~~ decarbonisation plans~~; opposes the exemptions granted under the Paris Alignment for Counterparties (PATH) framework in support of REPowerEU; calls for a halt to fossil fuel financing~~ deemed credible is accepted, there will inevitably be additional costs for European citizens, at a time in which they are already facing the consequences of an unprecedented increase in energy prices;

Amendment 35 #

5. Reiterates its call to work only with clients and financial intermediaries that ~~have~~present credible decarbonisation plans; opposes the exemptions granted under the Paris Alignment for Counterparties (PATH) framework in support of REPowerEU; calls for a progressive halt to fossil fuel financing;

Amendment 36 #

Draft opinion
Paragraph 5 a (new)

5 a. Highlights that the security of supply of critical raw materials is crucial both for the green and digital transitions, as well as, for the defence sector and for the EU industrial base in general; emphasises a circular economy approach to critical raw materials, based on the recycling and re-use of materials, to reduce EU dependence on third countries; calls, therefore, on the EIB to invest more in the critical raw materials sector to help diversify the supply of both primary and secondary raw materials and to develop circular economy solutions, in particular R&D for alternative materials, such as bio-based materials;

Amendment 37 #

Draft opinion
Paragraph 5 a (new)

5 a. Stresses the key role of the EIB in a just transition; invites the EIB to support projects delivering affordable access to renewable energy, housing and public services, community-led initiatives, and small projects; calls on the EIB to lower the minimum loan size of individual projects or loan schemes; encourages the EIB to cooperate with national and regional financial institutions to deliver targeted financing;

Amendment 38 #

Draft opinion
Paragraph 5 a (new)

5 a. Welcomes the EIB's contribution1ato support the REPowerEU Plan with an additional 30 billion euros in loans and equity financing for projects in the area of renewables, energy efficiency, grids and storage, electric-vehicle charging infrastructure, and breakthrough technologies over the next five years; _________________ 1a https://www.eib.org/en/press/all/2022- 450-eib-boosts-clean-energy-financing-in- support-of-repowereu-plan

Amendment 39 #

Draft opinion
Paragraph 5 b (new)

5 b. Calls on the EIB to scale up gender-smart climate financing;

Amendment 4 #

Draft opinion
Paragraph 1

1. Reiterates its call for a capital increase ~~and~~to allow the Bank to reinforce its support to long-term finance, inclusive sustainable growth, social and regional cohesion and support key real economy investments, which otherwise would not have taken place; stresses that the European Investment Bank (EIB) must maintain its ‘AAA’ rating and retain the confidence of the capital markets;

Amendment 40 #

Draft opinion
Paragraph 5 c (new)

5 c. Recalls the role played by the EIB in the EU Raw Material Alliance and the Union’s ambition to ensuring a higher degree of autonomy of CRM supply; calls on the EIB to support CRM-related projects that aim first at avoiding any new mining processes and at recycling secondary raw material;

Amendment 41 #

Draft opinion
Paragraph 5 d (new)

5 d. Expects the EIB to play a major role in the EU Chips Act strategy; notes that already 600 million euros were lent to STMicroelectronics to develop chips’ R&D in three different Member states; invites the EIB to fund projects that contribute to a sustainable chips supply chain, and to recycling critical material necessary to produce them; underlines that the bank should prioritise investment in infrastructure for the chips that have demand outlets in Europe and where Europe has unique expertise to remain the leader in this market segment;

Amendment 42 #

Draft opinion
Paragraph 5 e (new)

5 e. Welcomes the EIB’s Green Hydrogen Fund ambition to support the reduction of emissions from hard-to-abate sectors in developing countries through the development of renewable hydrogen, which should only serve that purpose; insists that additionality in those developing countries should be guaranteed so as to avoid the cannibalisation of existing renewable electricity used for direct electrification; underlines the importance of developing only renewable-based hydrogen in localised closed networks; is concerned about derisking private investments for large-scale green hydrogen projects for non-EU countries, in particular those aimed at export, in countries with alarming human rights track records, and where decisions on projects financed are unlikely to be taken with adequate degree of transparency, accountability and public participation;

Amendment 43 #

Draft opinion
Paragraph 5 f (new)

5 f. Expects to see enhanced public reporting on efforts and initiatives to mainstream nature in analyses and operations as well as specific reporting on nature positive investments in line with the commitments made by the EIB; expect the new forestry lending paper to ensure that EIB lending does not directly or indirectly contribute to deforestation or aforestation;

Amendment 44 #

Draft opinion
Paragraph 5 g (new)

5 g. Expects the EIB to apply stringent animal welfare standards to the projects it finances; calls for projects financed to fully respect animal welfare legislation, and to build on the example of the EBRD, clearly excluding harmful practices such as force-feeding of ducks and geese, and the keeping of animals for the primary purpose of fur production or any activities involving fur production;

Amendment 45 #

Draft opinion
Paragraph 5 h (new)

5 h. Welcomes the decision reflected in the updated “Excluded Activities” to not finance the extraction of mineral deposits from the deep sea2a; is worried, however, that some projects financed by the Bank are disputable from an ecological and animal welfare point of view, for instance projects of large-scale industrial fish farming; calls for aquaculture projects to not remove more wild fish from the oceans for its feed requirements than it produces, and to not contribute to the degradation of the marine environment _________________ 2a EIB eligibility, excluded activities and excluded sectors list, 2022

Amendment 46 #

Draft opinion
Paragraph 6

6. ~~Calls on EIB Global to devise~~Notes that EIB Global signed 10.8 billion euros in new financing; reminds that EIB operations outside of Europe are based on the general principles guiding EU external action as set forth in Article 21 of the Treaty on the European Union, such as supporting democracy and the rule of law, human rights and fundamental freedoms; is of the opinion that EIB Global should also be accountable for compliance with the principles stated in the Paris Declaration on Aid Effectiveness and Accra Agenda for Action (ownership, alignment, harmonisation, managing for results and mutual accountability); these principles should guide its operations as a public bank tasked with a development mandate; calls on EIB Global to develop a strategy centred on clear development additionality, as well as sustainable development agenda including solid human rights and environmental standards, and to include civil society organisations in that process; calls on the EIB to address the global consequences of the Russian aggression in this context with a particular focus on supply chain for food and sustainable access to food across the globe; calls on the EIB to encourage member states to invite their respective Development Ministries to take part in the EIB Global's Board Advisory Group; reiterates its call for EIB global to limit blending operations to areas where they can add value to the local economy, while excluding blended finance from essential public services, particularly health, education and social protection, as the monetisation of those sectors could widen already existing inequalities and jeopardise the universal access to those services; expects the EIB to pay particular attention to ensure a forced-labour free supply chain in its operations; calls on the EIB Global to increase its support to projects with limited bankability and high public return, and to lower the minimum loan size of individual projects, in particular in LDCs;

Amendment 47 #

Draft opinion
Paragraph 6

6. ~~Calls on EIB Global to de~~Welcomes the EIB's support of the EU's Global Gateway initiative by launching a Global Gateway Fund intended to provisde ~~a strategy centred on development additionality~~equity and debt financing for high-impact infrastructure, clean energy and human development projects around the world;

Amendment 48 #

Draft opinion
Paragraph 6

6. Calls on EIB Global to devise a strategy centred on development additionality, to deliver concrete positive outcomes on the ground, while ensuring additionality of EIB finance; highlights that EIB Global activities should be aligned with EU strategic interests and external policy objectives; asks the EIB to ensure a coordinated approach with other actors contributing to the European financial architecture for development, in order to deliver a stronger development impact; recalls furthermore that the successful implementation of EIB global requires an adequate level of in-house staff based on the ground, including local workers;

Amendment 49 #

Draft opinion
Paragraph 6

6. Calls on EIB Global to devise a strategy centred on development additionality; stresses the importance of avoiding further geographical imbalances in the EIB’s lending activity so as to ensure a broader geographical and sectoral allocation of investments, reduce regional disparities and enhance economic and social convergence; calls on the EIB to address systemic shortcomings that prevent certain regions or countries from taking full advantage of its financial activities;

Amendment 5 #

Draft opinion
Paragraph 1 a (new)

1 a. Stresses the important role of the European Investment Fund (EIF) to improve access to finance for European smaller companies, mid-caps and start- ups and thereby its support to entrepreneurship, growth, innovation, research and development, and employment in the Union; points out that the backbone of a successful industrial policy, especially for SME's, is a stable baseload energy supply; highlights the merits of and the innovation in nuclear power in this regard;

Amendment 50 #

Draft opinion
Paragraph 6

6. Calls on EIB Global to devise a strategy centred on development additionality; in particular through its lending policies and in the context of a capital increase;

Amendment 51 #

Draft opinion
Paragraph 6 a (new)

6 a. Calls for the EIB to ensure that investments clearly benefit recipient countries and societies, creating local jobs and alleviating poverty; believes that recipient country actors such as public authorities, civil society and private sector companies should be included in the decision-making and implementation of Global Gateway projects;

Amendment 52 #

Draft opinion
Paragraph 7

Amendment 53 #

Draft opinion
Paragraph 7

7. ~~Is concerned that the EIB has, at least once, failed to conduct a full inquiry into alleg~~Welcomes the fact that any allegations of maladministrations o~~f bribery and misuse of funds involving a financial intermediary outside the EU; calls on the EIB to reopen all such case~~r malpractice are taken extremely seriously and examined in detail by the EIB’s Inspectorate General; notes that the EIB remains committed to continuously improving its due diligence and anti-fraud procedures and safeguards;

Amendment 54 #

Draft opinion
Paragraph 7

7. ~~Is concerned that the EIB has, at least once,~~Notes that over the last few years, the majority of cases dealt with by the EIB Complaints Mechanism related to projects outside of the EU; reiterates its call on the EIB to ensure that the complaints mechanism is accessible, effective and independent in order to detect and redress any possible human rights violations in EIB related projects; is concerned that, in at least one occurrence, the EIB failed to conduct a full inquiry in~~to allegation~~ a case of alleged practices of bribery and misuse of funds ~~involving~~by a financial intermediary outside of the EU; calls on the ~~EIB~~Bank to reopen ~~all such cas~~the case led through the Complaints Mechanism and to assess whether there was any breach of the anti-fraud policy, due to the reputational risks such cases could pose, also considering the social consequences that unfolded for local communities;

Amendment 55 #

Draft opinion
Paragraph 7

7. Is concerned that the EIB has, at least once, failed to conduct a full inquiry into allegations of bribery and misuse of funds involving a financial intermediary outside the EU; calls on the EIB to reopen all such cases; calls on the EIB to commit to strengthen its policy against tax fraud, tax evasion and tax avoidance, including by refraining from funding beneficiaries or financial intermediaries and from cooperating with financial partners with a proven negative track record; calls on the EIB to enforce prevention measures and regular tax assessments against non- cooperative tax jurisdictions, tax and fiscal fraud and tax evasion, as well as illegal and aggressive tax avoidance;

Amendment 56 #

Joachim KUHS, Valentino GRANT, Matteo GAZZINI

Draft opinion
Paragraph 7

7. ~~Is concerned that~~Notes that allegedly the EIB has, at least once, failed to conduct a full inquiry into allegations of bribery and misuse of funds involving a financial intermediary outside the EU; ~~calls on the EIB to reopen all such case~~notes that the EIB has assessed the case three times and that the case has been referred to OLAF twice, with the case being dismissed; however, calls on the EIB to strengthen its internal mechanisms to fight fraud and corruption, and improve transparency and control over intermediated operations;

Amendment 57 #

Matteo GAZZINI, Valentino GRANT, Eric MINARDI, Joachim KUHS

Draft opinion
Paragraph 7

Amendment 58 #

Joachim KUHS, Eric MINARDI, Valentino GRANT, Matteo GAZZINI

Draft opinion
Paragraph 7

Amendment 59 #

Draft opinion
Paragraph 7 a (new)

7 a. Is concerned about the accusation of the EIB failing to properly investigate allegations of the fraudulent use of 48 million euros of its funds by now bankrupt Kenyan construction company Spencon1a; regrets the decision of the EIB to not examine a whistle-blower's data case despite acknowledging evidence of possible embezzlement; is concerned about OLAF´s reluctance to analyse the evidence, citing insufficient grounds to investigate; _________________ 1a https://www.ft.com/content/cdda4973- 3957-45c2-b3ff-dc80218323de

Amendment 6 #

Draft opinion
Paragraph 1 a (new)

1 a. Stresses the fundamental role of the EIB as the EU’s public bank and the only international financial institution that is entirely owned by Member States and fully guided by EU policies and standards in supporting the social and economic recovery and targeting investments for attaining the EU’s objectives; notes that the EIB Group signed financing agreements totalling €72.5 billion in 2022

Amendment 60 #

Matteo GAZZINI, Valentino GRANT, Eric MINARDI, Joachim KUHS

Draft opinion
Paragraph 7 a (new)

7 a. Notes with concern the continued increase in administrative overheads, which is mainly due to the rise in staff related costs; calls on the EIB to exercise cost discipline and to preserve the flexibility and efficiency of its management structure;

Amendment 61 #

Joachim KUHS, Valentino GRANT, Matteo GAZZINI

Draft opinion
Paragraph 7 a (new)

7 a. recalls that EIB funds are public money and should always be subject to public scrutiny and accountability;

Amendment 62 #

Draft opinion
Paragraph 7 b (new)

7 b. Calls on the EIB to reopen the fraud case against ECP Africa, to explain how it botched the initial investigation and to look into significant new evidence supporting this, which was not reviewed as part of the initial investigation;

Amendment 63 #

Draft opinion
Paragraph 8

8. Takes note of ~~the information note on the EIB’s human rights approach2; calls for clear and binding rules, in particular on human resources due diligence~~recent EIB note on its approach on human rights while pointing to the fact that there is no clear stance on when it should step in to resolve an issue or disengage from a project, or recover loans or investments, nor does it engage to external consultations despite repeated calls from the Parliament; calls for clear and binding rules, in particular on assessment and disengagement to complement the note; reminds that the integration of human rights into its due diligence procedures, human rights impact assessments, and ~~ondisengagement; _________________ 2 EIB, The European Investment Bank’s approach to human rights, information note, Luxembourg, 6 February 2023.~~the need for the EIB’s general human rights commitment to be anchored in a responsibility to respect human rights and expresses particular concern that since 2015, no standalone human rights impact assessments have been required by the EIB to be carried out by promoters; furthermore reiterates its call on EIB Global to ensure inclusive and meaningful consultation and engagement with communities impacted by its projects prior to their approval and throughout project implementation; underlines that specific measures should be implemented to include indigenous peoples, women, persons with disabilities and other vulnerable groups during the consultations;

Amendment 64 #

Draft opinion
Paragraph 8

8. Takes note of the information note on the EIB’s human rights approach2; calls for clear and binding rules, in particular on human resources due diligence assessment and on disengagement; calls on the EIB to strengthen its human rights policy and to increase the human rights dimension in its project planning, including by providing a Human Rights Strategy as well as HR Assessment and Evaluation of its programmes, also on the ground, to ensure that local communities are consulted and that the right to free prior and informed consent (FPIC) is implemented in a systematic manner; calls, furthermore, on the EIB to develop specific policies on human rights defenders and protocols to respond to risks of reprisals; _________________ 2 EIB, The European Investment Bank’s approach to human rights, information note, Luxembourg, 6 February 2023.

Amendment 65 #

Draft opinion
Paragraph 8 a (new)

8 a. Calls for more accountability towards the EU institutions, especially towards Parliament, as transparency is one of the cornerstones of democracy; believes that Members of the European Parliament should be allowed to submit questions for written answer to the EIB, as already provided for the European Central Bank;

Amendment 66 #

Draft opinion
Paragraph 9

9. ~~Is concerned that the transparency and harm preven~~Urges the EIB to implement the European Ombudsman’s recommendations of EIB intermediated investments have fallen behind other public financial institutions, rating only fair on the 2022 Aid Transparency Index3; recalls that the EIB’s 2021 Transparency Policy runs counter to the p21 April 20224; reminds the EIB Group Transparency Policy is fully based on EU legislation which clearly states that “all information and documents held by the Bank are su~~mption of~~bject to disclosure~~;urges the EIB to swiftlyimplement the European Ombudsman’s recommendations of 21 April 20224. _________________ 3 Publish What You Fund, 2022 Aid Transparency Index, 2022.~~ upon request, unless there is a compelling reason for non-disclosure.”4a. _________________ 4 Decisions of the European Ombudsman of 21 April 2022 in Cases 1065/2020/PB, 1251/2020/PB and 1252/2020/PB. 4a Regulation 1049/2001 on public access to European Parliament, Council and Commission documents, article 5.1.

Amendment 67 #

Draft opinion
Paragraph 9

9. Is concerned that the ~~transparency and harm prevention of EIB intermediated investments have fallen behind other public financial institutions,~~EIB falls behind other public financial institutions in terms of transparency, and in ensuring no harm is done by the Bank’s intermediated investments rating only fair on the ~~2022~~ Aid Transparency Index 3; recalls that ~~the EIB’s 2021~~in 2021 EIB adopted newTransparency Policy runscounter to the presumption of disclosure as it entails that the Bank should think of its client interest first and then apply the grounds of refusal in a manner that concords with these interests and hence not aligned with applicable exceptions listed in 1049/2001 and 1367/2006; urges the EIB to ~~swiftly~~implement immediatelythe European Ombudsman’s recommendations of 21 April 20224. on the need for the EIB to adopt a ‘more ambitious approach to its disclosure practice’, to act in line with EU transparency laws, and to be more transparent with regard to the potential environmental impact of the projects it finances and in particular more information about any financial intermediary sub-projects that have a significant impact on the environment4; _________________ 3 Publish What You Fund, 2022 Aid Transparency Index, 2022. 4 Decisions of the European Ombudsman of 21 April 2022 in Cases 1065/2020/PB, 1251/2020/PB and 1252/2020/PB.

Amendment 68 #

Matteo GAZZINI, Valentino GRANT, Eric MINARDI

Draft opinion
Paragraph 9

9. ~~Is concerned~~Takes note that the transparency and harm prevention of EIB intermediated investments ~~have fallen behind other public financial institutions, rating only~~were rated fair on the 2022 Aid Transparency Index3; recalls ~~that~~on the EIB~~’s 2021Transparency Policy runs counter to the presumption of disclosure; urges the EIB to swiftly~~ to work on the identified areas for implrovement ~~the European Ombudsman’s recommendations of 21 April 20224.~~in that matter; recalls that the EIB Group'sTransparency Policy is fully based on EU legislation; _________________ 3 Publish What You Fund, 2022 Aid Transparency Index, 2022. ~~4 Decisions of the European Ombudsman of 21 April 2022 in Cases 1065/2020/PB, 1251/2020/PB and 1252/2020/PB.~~

Amendment 69 #

Matteo GAZZINI, Valentino GRANT, Eric MINARDI, Joachim KUHS

Draft opinion
Paragraph 9

9. Is concerned that the transparency 9. and harm prevention of EIB intermediated investments have fallen behind other public financial institutions, rating only fair on the 2022 Aid Transparency Index3; recalls that the EIB’s 2021 Transparency Policy runs counter to the presumption of disclosure; urges the EIB to swiftly implement the European Ombudsman’s recommendations of 21 April 20224.; calls for the timely publication of the minutes of the EIB's Broad of Directors; _________________ 3 Publish What You Fund, 2022 Aid Transparency Index, 2022. 4 Decisions of the European Ombudsman of 21 April 2022 in Cases 1065/2020/PB, 1251/2020/PB and 1252/2020/PB.

Amendment 7 #

Draft opinion
Paragraph 1 a (new)

1 a. Stresses the fact that sustaining microenterprises, SMEs and mid-caps must remain a key objective for the EIB; reiterates, moreover, that the EIB should further strengthen its support for microenterprises, especially in times of severe crisis, including through cooperation with National Support Banks and local banking networks;

Amendment 70 #

Charles GOERENS, Olivier CHASTEL

Draft opinion
Paragraph 9

9. Is concerned that the transparency and harm prevention of EIB intermediated investments have fallen behind other public financial institutions~~, rating only fair on the 2022 Aid Transparency Index~~3; recalls that the EIB’s 2021 Transparency Policy runs counter to the presumption of disclosure; urges the EIB to swiftly implement the European Ombudsman’s recommendations of 21 April 20224. _________________ 3 Publish What You Fund, 2022 Aid Transparency Index, 2022. 4 Decisions of the European Ombudsman of 21 April 2022 in Cases 1065/2020/PB, 1251/2020/PB and 1252/2020/PB.

Amendment 71 #

Draft opinion
Paragraph 9 a (new)

9 a. Calls on the EIB to increase its reporting to Parliament regarding its decisions, progress achieved and the impact of its lending activities, notably through regular structured dialogues, and to apply the same reporting and accountability provisions as set out in the EFSI Regulation; reiterates its request for an interinstitutional agreement between Parliament and the EIB in order to improve access to EIB documents and data;

Amendment 72 #

Draft opinion
Paragraph 9 a (new)

9 a. Expresses concerns about health and safety at work and calls on the EIB to take all the necessary measures in consultation with representatives of the employees to significantly ameliorate the situation;

Amendment 73 #

Draft opinion
Paragraph 9 b (new)

9 b. Calls on the EIB to actively promote balanced gender representation in its managerial and senior positions; calls on the EIB to further enhance the promotion of all forms of diversity and inclusion within its organisation and to set ambitious targets;

Amendment 8 #

Draft opinion
Paragraph 2

2. Welcomes the financial assistance p~~rovided to Ukraine;~~ ackages to Ukraine of 1.7 billion euros; takes note of the EIB’s needs assessment of 420 Billion EUR in the rapid damages and needs assessment conducted in cooperation with the World Bank ; calls for a continued thorough analysis of financial needs for Ukraine’s reconstruction and sustainable development prioritizing local needs, including of the war’s impact on the environment; expects, EIB to contribute to building back better with expertise (including Elena in particular) as well as additional lending in line with the Council Conclusions from 15 December 2022 and to be fully compatible with the EU’s climate and environmental objectives, especially by building energy efficient buildings and ensuring forests protection from logging as well as substantially contributing to the demining effort; reminds the EIB of the particular importance to carry out publicly available social and environmental impact assessments for projects, in particular those that may cause further damage and destruction of ecosystems, such as forestry, agriculture and hydropower projects; calls for a high degree of involvement of Ukrainian civil society in this regard and in particular for inclusion of civil society representatives in the Steering Committee for the Multi-agency Donor Coordination Platform; takes not of the specific measures already taken in Ukraine to ensure full regularity of the use of funds and expects the same standards to be upheld in future lending activities, especially as the financial flows are expected to increase considerably as well as to explore the possibility to use a war insurance mechanism

Amendment 9 #