25 Amendments of Siegfried MUREŞAN related to 2017/2071(INI)
Amendment 1 #
Motion for a resolution
Citation 1 a (new)
Citation 1 a (new)
– having regard to the 2016 Activity Report of the European Investment Bank,
Amendment 2 #
Motion for a resolution
Citation 1 b (new)
Citation 1 b (new)
– having regard to the 2016 Financial Report and the 2016 Statistical Report of the European Investment Bank,
Amendment 3 #
Motion for a resolution
Citation 1 c (new)
Citation 1 c (new)
– having regard to the September 2016 Evaluation of the Functioning of the European Fund for Strategic Investments (EFSI) of the European Investment Bank,
Amendment 8 #
Motion for a resolution
Recital B
Recital B
B. whereas the EIB Group financial activities include both lending own resources and fulfilling the various mandates granted to it with the support of the EU budget and third parties such as EU Member States;
Amendment 12 #
Motion for a resolution
Recital D
Recital D
D. whereas the EIB maintained a solid profitabilityfinancial standing in 2016 in accordance with the forecast for that year, with a net annual surplus of EUR 2.8 billion;
Amendment 14 #
Motion for a resolution
Recital E
Recital E
E. whereas the EIB should continue to strengthen its efforts to expand its loan activities effectively by providing technical assistance and advisory support, especially in regions with low investment capacity, in order to address regional discrepancies, while reducing administrative burdens for applicants;
Amendment 19 #
Motion for a resolution
Recital F a (new)
Recital F a (new)
Fa. whereas the European Investment Fund (EIF) should play a key role in complementing the EIB’s interventions as the EU’s specialist vehicle for venture capital and guarantees aimed primarily at supporting SMEs and thus leading to further European integration and economic, social and territorial cohesion;
Amendment 27 #
Motion for a resolution
Paragraph 3
Paragraph 3
3. Welcomes the EIB Group’s willingness to enhance EU competitiveness, provide real support for growth and job creation, and contribute to solving current political challenges within and outside the EU, by pursuing its overarching public policy goals relating to innovation, SMEs and midcap finance, infrastructure, the environment, economic and social cohesion, and the climate; recalls that these objectives also necessitate the provision of public goods; insists that, in order to achieve the Europe 2020 strategy objectives successfully, all EIB Group activities should not only be economically sustainable, but also contribute to a smarter, greener and more inclusive EU; emphasises the need for coherence between the instruments necessary to reach these objectives;
Amendment 32 #
Motion for a resolution
Paragraph 4
Paragraph 4
4. Welcomes the fact that the EIB has affirmed its commitment to supporting the fulfilment of the Paris Agreement; believes that the review of the EIB’s energy policy foreseen for 2018 will be an opportunity for the bank to reconsider the support it gives to the fossil fuels sector; urges the bank, in this context, to publish the concrete action plans deriving from its 2015 Climate Strategy and to align its portfolio with the global average temperature increase target of less than 2°C, through the phasing-out of fossil fuel projects and the prioritisation of energy efficiency projects;
Amendment 37 #
Motion for a resolution
Paragraph 5 a (new)
Paragraph 5 a (new)
5a. Calls in this respect to enhance the EIB’s external mandate in order to respond to the current challenges, which the EU is facing; is particularly concerned by the lack of progress in the legislative procedure aiming at revising the external lending mandate due to Council’s rigidity; is convinced that the revised level proposed by the Commission will not allow to maintain the current level of financing, thus endangering the activities of the EIB in various areas, especially in the Eastern Neighbourhood; urges therefore the Council to accept the Parliament’s proposal, increasing the ceilings of the ELM to the optimal level which would allow the EIB to continue lending at the current level;
Amendment 39 #
Motion for a resolution
Paragraph 5 b (new)
Paragraph 5 b (new)
5b. Stresses the importance of the EIB’s financing activities in the Eastern and Southern Neighbourhood; asks the EIB to increase its lending mandate towards the Eastern Neighbourhood in order to support those countries that are implementing difficult economic and democratic reforms on their path towards the EU; recalls that the main financing activities should also aim at addressing both urgent needs and longer term challenges such as rebuilding infrastructure, ensuring adequate housing and emergency response infrastructure as well as combating youth unemployment;
Amendment 44 #
Motion for a resolution
Paragraph 7
Paragraph 7
7. Notes that the value of the EIB loans signed is forecast to rise once again in 2019 (to EUR 76 billion, following a fall from EUR 77 billion in 2014 to EUR 73 billion in 2016); points out that the current context should encourage the bank to adopt more ambitious objectives and to increase the loans signed by the EIB; recalls that the EIB should play a fundamental role in the implementation of the Europe 2020 strategy through the Horizon 2020 instrumentinstruments such as Horizon 2020 and Connecting Europe Facility;
Amendment 45 #
Motion for a resolution
Paragraph 8
Paragraph 8
8. Welcomes the EIB’s commitment to tackling the phenomenon of forced displacement androot causes of migration and taking action in countries particularly affected by the refugee and migration crisis, including by strengthening humanitarian action and providing support for economic growth, the construction of infrastructure and job creationand investment needs in urban, health, educational and social infrastructure, stimulating economic activities for job creation and promoting cross-border cooperation between Member States and third countries; expects the EIB Group, to this end, to step up its efforts in coordinating its Economic Resilience Initiative and the External Lending Mandate currently under revision with the establishment of the EFSD mid-2017;
Amendment 52 #
Motion for a resolution
Paragraph 11
Paragraph 11
11. Expects a rapid agreement to be reached on the prolongation of EFSI action, and that the revised fund will enable the problems identified in the previous version, namely in relation to additionality, geographic balance and advisory hub activities, to be overcome; stresses the importance of avoiding geographical imbalances in the EIB’s lending activity so as to ensure a broader geographical and sectorial allocation without compromising the high quality of projects; calls on the EIB to further strengthen their work with national promotional banks to improve outreach, further develop advisory activity and technical assistance to address the issue of geographical balance in the long-term;
Amendment 65 #
Motion for a resolution
Paragraph 14
Paragraph 14
14. Recalls that the EIB’s NCJ Policy needs to be ambitious; notes that relying on the common EU list of third country jurisdictions that fail to comply with tax good governance standards, which is expected to be endorsed by the Council of the EU by the end of 2017 and which will prevail over other lead organisations’ lists in the case of conflict, is a positive but insufficient step, and calls for country-by- country reporting without exemptions to be made a key part of the EIB’s corporate social responsibility strategy, before the EU adopts its legislation in the field;
Amendment 70 #
Motion for a resolution
Paragraph 15
Paragraph 15
15. Asks the EIB to take greater account of the tax impact in countries where investment is made and of how this investment contributes to economic development and reducing inequalityjob creation;
Amendment 81 #
Motion for a resolution
Paragraph 20
Paragraph 20
20. Welcomes the fact that the EIB Group’s transparency policy is based on a presumption of disclosure and that everyone can access EIB Group documents and information; recalls its recommendation for the publication on the EIB Group website of non-confidential documents, such as Corporate Operational Plans for previous years, interinstitutional agreements and memorandums, and urges the EIB Group not to stop there, but to continue raising the bar and constantly looking for ways to improve;
Amendment 90 #
Motion for a resolution
Paragraph 22
Paragraph 22
22. UrgNotes the EIB Group to adopt the whistleblowing policy review that has already been announced, which is to update the previous policy dating from 2009ongoing revision of the EIB Group’s whistleblowing policy;
Amendment 95 #
Motion for a resolution
Paragraph 24
Paragraph 24
24. Calls on the EIB Group to put a continuous emphasis on performance scrutiny via performance assessments and proven impact; encourages it to continue to refine its monitoring indicators, more specifically its indicators of additionality, with a view to assessing impact as early as possible in the project generation phase and providing the Board with sufficient information on the impact envisaged, in particular with regard to the contribution of projects to EU policies, for example their effect on economic indicators, such as growth or employment (during both implementation and operation); points out, furthermore, that the performance of EIB Group financing cannot be assessed on the basis of an appraisal of its financial impact alone, and calls, therefore, for the right balance to be maintained between the operational targets defined in terms of business volume and the non-financial EIB Group staff objectives; urges, for instance, that the performance assessments indicate what specific objectives within the framework of the sustainable development goals (SDGs) are targeted by the project and to what extent it has contributed to fulfilling them;
Amendment 101 #
Motion for a resolution
Paragraph 28
Paragraph 28
28. Believes that the EIB Group’s financial instruments should serve projects chosen on the basis of their own merits, their potential to generate added value for the EU as a whole, and effective additionality, especially in areas where markets fail to finance and support projects, finding the right balance between a potentially higher risk profile and the fundamental need to maintain its high credit standing;
Amendment 106 #
Motion for a resolution
Paragraph 30
Paragraph 30
30. Calls on the EIB Group to further develop its risk culture in order to improve its effectiveness and the complementarity and synergies between its interventions and various EU policies, in particular by supporting innovative companies, infrastructure projects and SMEs that are taking risks or evolving in economically disadvantaged regions or regions that lack stability, in line with the recurrent and longstanding objective of easier access to financing for SMEs, but without compromising the principles of sound management or jeopardizing the EIB’s high credit standing;
Amendment 109 #
Motion for a resolution
Paragraph 30 a (new)
Paragraph 30 a (new)
30a. Notes that the support of the EIB group to SMEs and midcaps amounted to record EUR 33.6 billion and supported the creation of 4.4 million jobs in 2016; highlights the importance of continuous EIB Group support towards SMEs and midcaps by enhancing their access to finance; emphasises that SMEs are the backbone of the European economy and should remain the principal target of the EIB Group lending activities by further reinforcing financing instruments for SMEs and midcaps;
Amendment 113 #
Motion for a resolution
Paragraph 31
Paragraph 31
31. Underlines that the pricing ofdue diligence of investment projects financed by the EIB Group products should be based on both factors related to financial return and factors related not to financial return, but instead to the achievement of other kinds of objectives, such as the contribution of the project to upward economic convergence and cohesion in the EU, or to the achievement of the Europe 2020 targets or the 2030 SDGs; considers that the EIB Group should explain these non-financial criteria to institutional and private investors (for example, pension funds and insurance companies) in an appropriate manner, thus promoting an increased focus on socio- economic and environmental impact across the financial sector;
Amendment 116 #
Motion for a resolution
Paragraph 32
Paragraph 32
32. Believes that in cases where stressed financial market conditions would prevent the realisation of a viable project or where it is necessary to facilitate the establishment of investment platforms or the funding of projects in sectors or areas experiencing a significant market failure or suboptimal investment situation, the EIB Group should implement and document changes, notably to the remuneration of the EU guarantee to the EIB, in order to contribute to a reduction in the cost of finahrough recourse to Member States or agencinges the operation borne by the beneficiary of EIB Group financing through financial instruments, so as to facilitate project implementationat may grant aid towards the payment of interest; believes that similar efforts should be undertaken where necessary to ensure that financial instruments support small projects, and that where the use of local or regional intermediaries enables a reduction in the cost of financial instrument financing to small projects, this form of deployment should also be considered;
Amendment 121 #
Motion for a resolution
Paragraph 37
Paragraph 37
37. Expects the EIB Group to continue to work with national promotional banks and institutionsCommission, the EIB Group and national, regional and local authorities to continue to work with national promotional banks and institutions to strengthen their cooperation to create more synergies between the ESI Funds and EIB financing instruments and loans as well as to reduce administrative burden, simplify procedures, increase administrative capacity, boost territorial development and cohesion and improve the understanding of ESI Funds and EIB financing, in the spirit of complementarity, since they have a sound knowledge of their respective territories and the ability to implement tailor-made financial instruments locally;