Activities of Alfred SANT related to 2022/2062(INI)
Plenary speeches (1)
Financial activities of the European Investment Bank – annual report 2022 - Control of the financial activities of the European Investment Bank - annual report 2022 (joint debate - European Investment Bank)
Shadow reports (1)
REPORT on the financial activities of the European Investment Bank – annual report 2022
Amendments (40)
Amendment 13 #
Motion for a resolution
Recital C c (new)
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 18 #
Motion for a resolution
Recital C a (new)
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 #
Motion for a resolution
Recital C b (new)
Recital C b (new)
Amendment 20 #
Motion for a resolution
Recital C d (new)
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 22 #
Motion for a resolution
Paragraph 1 a (new)
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 #
Motion for a resolution
Paragraph 1 b (new)
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 #
Motion for a resolution
Paragraph 2
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 28 #
Motion for a resolution
Paragraph 4
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 #
Motion for a resolution
Paragraph 4 a (new)
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 30 #
Motion for a resolution
Paragraph 4 b (new)
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 #
Motion for a resolution
Paragraph 4 c (new)
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 #
Motion for a resolution
Paragraph 4 d (new)
Paragraph 4 d (new)
Amendment 44 #
Motion for a resolution
Paragraph 8 b (new)
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 #
Motion for a resolution
Paragraph 8 a (new)
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 50 #
Motion for a resolution
Paragraph 8 c (new)
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 72 #
Motion for a resolution
Paragraph 15
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 #
Motion for a resolution
Paragraph 16
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 #
Motion for a resolution
Paragraph 16 a (new)
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 77 #
Motion for a resolution
Paragraph 17
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 83 #
Motion for a resolution
Paragraph 18 a (new)
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 86 #
Motion for a resolution
Paragraph 19
Paragraph 19
19. Encourages the EIB to use its operations to facilitate the implementation of the goals of the Green Deal, particularly becauseaiming 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 97 #
Motion for a resolution
Paragraph 22 a (new)
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 103 #
Motion for a resolution
Paragraph 23
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 105 #
Motion for a resolution
Paragraph 23 a (new)
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 107 #
Motion for a resolution
Subheading 4 a (new)
Subheading 4 a (new)
Social Elements
Amendment 108 #
Motion for a resolution
Paragraph 23 b (new)
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 #
Motion for a resolution
Paragraph 23 c (new)
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 110 #
Motion for a resolution
Paragraph 23 d (new)
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 #
Motion for a resolution
Paragraph 23 e (new)
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 #
Motion for a resolution
Paragraph 24
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 127 #
Motion for a resolution
Paragraph 26
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 #
Motion for a resolution
Paragraph 26 a (new)
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 132 #
Motion for a resolution
Paragraph 27 a (new)
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 134 #
Motion for a resolution
Paragraph 28
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 136 #
Motion for a resolution
Paragraph 29
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 #
Motion for a resolution
Paragraph 30
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 140 #
Motion for a resolution
Paragraph 31 a (new)
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 #
Motion for a resolution
Paragraph 32
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 143 #
Motion for a resolution
Paragraph 33
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; notwelcomes 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 #
Motion for a resolution
Paragraph 33 a (new)
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;