Activities of Georgi PIRINSKI related to 2017/2190(INI)
Plenary speeches (1)
Annual report on the control of the financial activities of the European Investment Bank for 2016 (debate)
Shadow reports (1)
REPORT on the annual report on the control of the financial activities of the EIB for 2016 PDF (545 KB) DOC (86 KB)
Amendments (18)
Amendment 1 #
Motion for a resolution
Recital A
Recital A
A. whereas the EIB is the EU Bank as laid out in Articles 308 and 309 of the TFEU, being the largest multilateral bank and the biggest public lender in the world operating in international capital markets;
Amendment 3 #
Motion for a resolution
Recital E
Recital E
E. whereas contributing to a balanced and steady development of the internal market is one ofby financing projects for less- developed regions and for projects that cannot be entirely financed by individual Member States is the EIB’s core tasks according to Article 309 of the Treaty on the Functioning of the European Union (TFEU);
Amendment 4 #
Motion for a resolution
Recital E a (new)
Recital E a (new)
E a. whereas the majority of EIB investments are still being concentrated in the EU’s top five economies, putting other Member States and regions at a disadvantage;
Amendment 5 #
Motion for a resolution
Recital J
Recital J
J. whereas the EIB’s investments should not be only bankable operations but also respond to sustainability criteria and governance standards in line with the Treaty requirement for operating on a non-profit-making basis in the interest of the Union;
Amendment 7 #
Motion for a resolution
Paragraph 2
Paragraph 2
2. Takes note of the set of EIB annual reports for 2016 presenting the various investing activities and their expected impacts; reiterates its request that the EIB present a more comprehensive, detailed and harmonised annual report with a better impact overview and evaluation of the EIB’s overall activities and lending priorities as well as of financed projectsactivity report and significantly improve the presentation of the information by including detailed and trustworthy breakdowns of the investments approved, signed and disbursed for the given year and the financing sources engaged (own resources, EFSI, EU centrally managed programmes, etc.), as well as such information regarding beneficiaries (Member States, public, private sector, intermediaries or direct recipients) and sectors supported;
Amendment 10 #
Motion for a resolution
Paragraph 3
Paragraph 3
3. Invites the EIB to pursue efforts in that direction by providing policymakers with complete and exhaustive information on the concrete and achieved economic, social and environmental impacts and added value and on results achieved of its operations in the Member States and outside the EU; stresses the importance of carrying out, for each project, an independent ex-ante and ex-post evaluation; calls on the EIB to provide detailed examples of crossnational added value in its impact investment reporting as well as key-indicators of sectoral and intersectoral successes;
Amendment 12 #
Motion for a resolution
Paragraph 4
Paragraph 4
4. Recalls that activities benefiting from EIB support must be in accordance with the Bank’s core task according to the TFEU, with the principles of the EU’s policy goals as outlined in the Europe 2020 strategy and the COP21 agreement; underlines therefore that the EIB’s mission is to revitalise the European economy in order to stimulate quality jobs and support smart, inclusive and sustainable growth in the Union, as well as greater cohesion necessary for reversing increasing inequalities both within and between Member States;
Amendment 17 #
Motion for a resolution
Paragraph 7
Paragraph 7
7. Considers that approval of investment projects should be based on a sound, independent analysis assessing the financial sustainability and risks associated with the projects, in order to avoid the risk of socialisation of losses and privatisation of returns when public resources are involved; stresses that the provision of public subsidies should be envisaged only for the execution of missions of general interests and where the market failures have been cleis unable to deliver the necessarly identifiedpublic policy results;
Amendment 18 #
Motion for a resolution
Paragraph 7 a (new)
Paragraph 7 a (new)
7 a. Reiterates Parliament’s concern about defining a balanced strategy with a dynamic, fair and transparent geographical distribution of projects and investments among Member States, taking into account the special focus on the less developed countries and regions; observes that 70 % of the EIB’s total lending for 2016 (EUR 46.8 billion) is concentrated in six Member States, which shows that not all Member States or regions are able to benefit equally from investment opportunities;
Amendment 19 #
Motion for a resolution
Paragraph 8
Paragraph 8
8. Expresses its support for the EIB’s four public policy goals and for two horizontal objectives which cut across those goals – economic and social cohesion, and climate action – covering multiple issues, from addressing regional imbalances to helping weaker regions to become more attractive to developing a favourable environment to promote sustainable and inclusive growth; repeats, however, its call on the EIB to reinstate economic, social and territorial cohesion as a primary public policy goal;
Amendment 26 #
Motion for a resolution
Paragraph 14 a (new)
Paragraph 14 a (new)
14 a. Given the most immediate challenge to the EIB caused by the UK's decision to trigger Article 50 and recognising that detailed terms of withdrawal cannot be pre-empted, calls on the EIB to provide Parliament with a detailed breakdown of the projects and stage of implementation up to end 2017 together with a preliminary assessment of the possible risks involved;
Amendment 30 #
Motion for a resolution
Paragraph 20
Paragraph 20
20. Notes that at year end 2016 the EFSI expected to mobilise eligible total investments of EUR 163.9 billion; however, also notes that according to the EIB Group Operational Plan 2018, the actual volume of investments mobilised under IIW and SMEW in 2016 amounts to no more than EUR 85.5 billion, which together with EUR 37 billion for 2015 amounts to a total of EUR 122.5 billion mobilised investments by EFSI;
Amendment 38 #
Motion for a resolution
Paragraph 26
Paragraph 26
26. Deplores the fact that the list of projects chosen to receive funding under EFSI includes infrastructure installations with serious environmental impact and dubious additionality, such as biorefineries, steelworks, regasification and gas storage facilities and motorways; criticises the fact that in many cases the EIB has failed to take action on reports from local authorities, stakeholder communities and civil society groups of environmental and social legislation being breached by funding recipients and by the projects financed, claiming that it was not its responsibility to carry out the necessary investigations; calls on the EIB, with reference to the precautionary principle, to freeze and, if necessary, to withdraw funding wherever there is any suspicioncientific proof or serious risk of environmental infringements and damage to society or to local communities;
Amendment 41 #
Motion for a resolution
Paragraph 28 a (new)
Paragraph 28 a (new)
28 a. Is concerned that at the end of 2016 EFSI investments in Social infrastructure (human capital, culture and health) amounted to only 4 % (less than EUR 900 million) being the lowest supported sector by EFSI as a whole and within the two individual windows – IIW and SMES; stresses that there is a clear and urgent need to significantly increase the share and volume of such investments;
Amendment 46 #
Motion for a resolution
Paragraph 35
Paragraph 35
35. Regrets that there is no structured information provided in the report on EIB operations inside the EU in 2016 about one of the Bank’s cross-cutting policies, i.e. economic and social cohesion; expresses its concern that for a second year in 2016 the EIB did not reach the envisaged level of 30 % for investments for cohesion (26.8 % in 2016 and 25,2% in 2015 achieved inside the EU);
Amendment 47 #
Motion for a resolution
Paragraph 38 a (new)
Paragraph 38 a (new)
38 a. Regrets that the social investments amount to less than 6 % of the annual EIB portfolio; underlines that social cohesion is a key horizontal priority goal for the EIB and insists on the Bank to take into consideration the need for reducing inequalities and disparities within the EU, for investing in the social sector and on a broader geographical scale;
Amendment 62 #
Motion for a resolution
Paragraph 60 a (new)
Paragraph 60 a (new)
60 a. Draws attention to concerns raised during the public consultations with regard to some proposals for the revision of the Complaints Mechanism Office of the EIB, namely, the exclusion from the Complaints Mechanism of cases linked to public procurement as well as of issues related to the legality of the EIB policy; the limitation of the independence of the Complaints Mechanism Office by envisaging a requirement to consult other services before assessing whether a complaint is admissible and by reducing the Office's ability to give recommendations; strongly encourages the Management Committee to take on board these concerns;
Amendment 66 #
Motion for a resolution
Paragraph 62
Paragraph 62
62. RIs deeply concerned that the Bank's management has so far provided no response whatsoever to the specific provisions of paragraphs 75 and 76 of the Parliament Resolution on the control of the financial activities of the EIB for 2015 and recalls the need to provide for more stringent rules on conflicts of interest and for clear, strict and transparent criteria to prevent any form of corruption; reiterates fact that the EIB must revise its Code of Conduct in order to make sure that its Vice-Presidents are not in charge of operations in their home countries, since this poses a risk to the independence of the institution; stresses the importance of the European Ombudsman exerting public scrutiny over the EIB; is deeply concerned at the shortcomings identified in the EIB’s existing mechanisms to prevent possible conflicts of interest within its governing bodies; calls on the EIB, in this regard, in order to better prevent conflicts of interest in its governing bodies and potential ‘revolving door’ issues, to take into consideration the Ombudsman’s recommendations and to revise its Code of Conduct as soon as possible;