8 Amendments of Ignazio CORRAO related to 2016/2099(INI)
Amendment 3 #
Draft opinion
Paragraph 1
Paragraph 1
1. WelcomesTakes note that the increase in transparency and accountability due to the EIB’s Results Measurement (ReM) Framework; asks that a random sample of the nearly 400 projects that have gone through ReM assessment at appraisal be reassessed after completion by independent experts; asks that the results of this ex-post evaluation be reported to the EP; Calls the EIB to introduce coherent measures in line with the most recent developments at EU level, such as the country-by-country reporting requirements for private banks and multinationals;
Amendment 12 #
Draft opinion
Paragraph 1 a (new)
Paragraph 1 a (new)
1a. Is concerned whether financial support provided by the EIB to investment funds is trustworthy, because many of them are located in tax havens and secrecy jurisdictions. So it shows lack of transparency and a potential conflict of interests; calls for a binding moratorium on the use of private equity funds;
Amendment 13 #
Draft opinion
Paragraph 1 b (new)
Paragraph 1 b (new)
1b. Reminds that for other financial intermediaries used by the EIB (commercial bank in particular, as well as microfinance institutions and cooperatives), in order to ensure a high level transparency, the bank should ensure that intermediated loans are subject to the same transparency requirements as other types of loans;
Amendment 15 #
Draft opinion
Paragraph 2 a (new)
Paragraph 2 a (new)
2a. Calls EIB to support direct equity participation in local companies which are judged able and likely to support wider development goals through their work in a transparent and accountable way;
Amendment 25 #
Draft opinion
Paragraph 3 a (new)
Paragraph 3 a (new)
3a. Asks the EIB to ensure that all companies and financial institutions involved in its transactions disclose information regarding beneficial ownership of any legal structure directly or indirectly related to the company, including trusts, foundations and bank accounts;
Amendment 26 #
Draft opinion
Paragraph 3 b (new)
Paragraph 3 b (new)
3b. Recalls that the international private financial sector should not be used by the EIB as a primary vehicle for channelling development funding to local and indigenous private companies. Due to the screening financial intermediaries, both ex-ante and ex-post would absorb too many resources without necessarily generating a positive outcome. It could divert capacity from trying to directly support local public and private sectors in line with a development logic of mobilising domestic resources and capacities;
Amendment 32 #
Draft opinion
Paragraph 4 a (new)
Paragraph 4 a (new)
4a. Calls the EIB to ensure not supporting clients which are engaged in harmful tax practices;
Amendment 35 #
Draft opinion
Paragraph 4 b (new)
Paragraph 4 b (new)
4b. Calls the EIB to do a better job supporting responsible corporate tax practices and not only representing a tool to trigger investments, claiming often that it has the capacity to improve the environmental, social and integrity standards of its clients;