Activities of Barbara KAPPEL related to 2015/2127(INI)
Plenary speeches (2)
European Investment Bank annual report 2014 (A8-0050/2016 - Georgi Pirinski) DE
European Investment Bank annual report 2014 (debate) DE
Shadow reports (1)
REPORT on the European Investment Bank (EIB) – Annual Report 2014 PDF (481 KB) DOC (184 KB)
Shadow opinions (1)
OPINION on European Investment Bank (EIB) – Annual Report 2014
Amendments (24)
Amendment 4 #
Draft opinion
Paragraph 1
Paragraph 1
1. Takes note of the 2014 EIB Annual Report and the increase by 6.92% to EUR 80.3 billion in the EIB Group’s lending, which has made it possible to provide support for 285 000 small and medium-sized enterprises and to secure 3.6 million jobs; is very concerned at the increasing high unemployment, inequality andcreasing poverty levels, and persistent macroeconomic imbalances in some Member States and at the weak investment and the continuous uncertainty in the financial markets; emphasises, in that connection, the importance of significant further investment for growth and employment in Europe, and draws attention to the EUR 300 billion shortfall in investment by comparison with pre-crisis levels;
Amendment 5 #
Motion for a resolution
Recital H a (new)
Recital H a (new)
Ha. whereas in 2014 the EIF supported 175 000 enterprises throughout Europe and had a stake in 74 private equity funds;
Amendment 6 #
Motion for a resolution
Recital I a (new)
Recital I a (new)
Ia. whereas for the first time the EIB has been issued with a risk enhancement mandate with a view to reviving the SME securitisation market;
Amendment 7 #
Motion for a resolution
Recital J
Recital J
J. whereas EIB financing of operations outside the EU is designed to support the EU’s external policy objectives, in line with Union values and on a basis of respect for sustainable social and environmental standards; whereas this applies in particular to projects which, in the context of the refugee and migration crisis, are designed to give people more reasons to stay where they are;
Amendment 9 #
Draft opinion
Paragraph 1 a (new)
Paragraph 1 a (new)
1a. Welcomes, in particular, the introduction of a new range of products for European innovators of all sizes, the setting-up of an advisory service for large- scale R&D projects, the investments in strategic infrastructure and the first bond scheme for broadband network projects;
Amendment 10 #
Motion for a resolution
Paragraph 1
Paragraph 1
1. Welcomes the EIB’s Annual Reports for 2014 and its achievements presented in them, and strongly encourages the EIB to redouble its efforts to materially contribute to curbing the current atonic economic environment and investment shortfall of roughly EUR 300 billion;
Amendment 10 #
Draft opinion
Paragraph 1 b (new)
Paragraph 1 b (new)
1b. Takes the view that, following the annulment of the Safe Harbour Agreement by the CJEU, funding is needed for the development of data centres with a view to pushing ahead with the digitisation of the European economy and restoring consumers' trust;
Amendment 11 #
Draft opinion
Paragraph 1 c (new)
Paragraph 1 c (new)
1c. Welcomes the provision of risk financing instruments for start-ups and growing enterprises to fund research and innovation activities;
Amendment 12 #
Motion for a resolution
Paragraph 2
Paragraph 2
2. Welcomes, in particular, the fact that in 2014 the EIB funded 285 000 small and medium-sized enterprises, thus safeguarding 3.6 million jobs, and signed contracts for a total of 413 projects within the EU worth EUR 69 billion and 92 new projects outside the EU for a total of EUR 7.98 billion; also welcomes the fact that in the same year the EIF committed EUR 3.3 billion through its equity and guarantee activities for the benefit of smaller businesses, thus registering the successful implementation of one of the EIB’s most ambitious business plans, with a total of EUR 80.3 billion in EIB Group financing;
Amendment 13 #
Draft opinion
Paragraph 2
Paragraph 2
2. Regrets that EU investment in 2013 decreased by 13% compared with the pre- crisis period with investment in some countries decreasing 25% and even by as much as 60% in others, creating a dangerousn investment imbalance in thsome EU Member States; is of the opinion that this constitutes a major challenge for the EIB; takes the view, however, that the Member States hardest hit by the decline in investment should focus more closely on implementing structural reforms and consolidating their budgets and on creating conditions conducive to investment, paying particular attention to alternative financing instruments;
Amendment 14 #
Motion for a resolution
Paragraph 3
Paragraph 3
3. Observes, however, that in 2014 59,4 % of all EIB-signed projects were allocated to the top five EU economies (Germany, the UK, France, Italy and Spain), while the share of the other 23 Member States stood at only 30.3 %; is deeply concerned, given the intensity of both the current and the long-term challenges facing the Union, that significant discrepancies in lending as between Member States are continuing to persist; calls for an increased focus on projects in Greece and Cyprus, as these two countries accounted for only 5% of all EIB-funded projects and have been particularly hard hit by the financial crisis;
Amendment 16 #
Motion for a resolution
Paragraph 4
Paragraph 4
4. Points out that operations, while taking account of the availability of funds, must be targeted to generating investments that enhance economic recovery and productive employment, accompanied by consistent support to Member States aimed at increasing absorption capacities where necessary, as well as by a continuous commitment to avoiding the risk of territorial fragmentation; points out that an increase in the EIB’s capital would be needed to address the investment shortfall;
Amendment 17 #
Motion for a resolution
Paragraph 5
Paragraph 5
5. Notes that insufficient project generation capacity in the public and private sectors and low levels of borrowing capacity in some Member States, in conjunction with current market conditions, present significant challenges to the EIB’s lending programme; urges the EIB, therefore, to substantially step up its technical assistance and financial advice in all key areas of activity, on an easily accessible basis and vis-à-vis all Member States, in order to attain a much higher level of growth- generating capacity; calls, in particular, for funding to be channelled towards projects which enhance Europe’s competitiveness;
Amendment 19 #
Draft opinion
Paragraph 2 a (new)
Paragraph 2 a (new)
2a. Urges the EIB to improve their tools to evaluate additionality so as to prevent investments from crowding out; sees this problem as particularly pressing in areas, in which investments would have taken place by private investors but where underbid by the EIB's lower interest rates and longer run time;
Amendment 27 #
Motion for a resolution
Paragraph 20 a (new)
Paragraph 20 a (new)
20a. Calls for checks to be carried out to determine the extent to which projects in beneficiary countries take account of international and regional climate agreements and the extent to which these beneficiary countries are honouring their undertakings to combat climate change, or have shown a willingness to give binding undertakings; calls, further, for efforts to combat climate change to be added as a criterion governing the award of EIB funding for environmental projects in developing countries;
Amendment 28 #
Draft opinion
Paragraph 3
Paragraph 3
3. Notes the urgent need for an increase in EIB lending activity and, therefore, for a further increase in the EIB's capital;
Amendment 42 #
Draft opinion
Paragraph 4
Paragraph 4
4. Calls on the EIB to re-examine its strategic planning programme, given the high degree of concentration of funding for the four biggest economies in the EU accounting for more than 45%, and the disproportionate rise in unemployment levels in some other countries whichat, despite the provision of funding, unemployment levels in some Member States have risen disproportionately and remains at alarming levels, and which could hamper economic convergence in the EU and further damage growth prospects and social cohesion in specific countrithose Member States and regions in the EU;
Amendment 45 #
Motion for a resolution
Paragraph 33
Paragraph 33
33. Recognises the challenges involved in creating and swiftly making operational an EFSI pipeline of strategic projects; welcomes the setting-up by the EIB of the European investment advisory hub, which aims to provide technical assistance and expertise to potential promoters; calls for comprehensive project reporting which also encompasses information on the activities and contributions of institutional investors;
Amendment 51 #
Motion for a resolution
Paragraph 37
Paragraph 37
37. Encourages the Bank to develop and deploy the necessary comprehensive approach in response to the severe challenges generated by the flow of migrants to Europe, including enhanced operations in countries of origin of such flows as well as in countries which border directly on countries of origin; calls on the EIB, when granting funding for projects in crisis countries, to focus on those which are designed to eliminate incentives to flee and to step up its activities in that area;
Amendment 53 #
Draft opinion
Paragraph 5
Paragraph 5
5. Takes note of the establishment of the European Fund for Strategic Investment (EFSI) and emphasises the need for the EFSI to function in an effective, transparent and fair way and to take into account that priority should be given to projects in strategic sectors, countries in adjustment programmes and regions which have difficulties in attracting funding because of their welcomes the fact that it is intended to support sound projects which generate value added or to focus on projects of vital importance in Europe; calls for project selection to be assessed on the basis of risk and value added and for ex post assessment of the supposed leverage effect whigch risk environmentprovides the rationale for the EFSI;
Amendment 63 #
Draft opinion
Paragraph 5 a (new)
Paragraph 5 a (new)
5a. Is concerned by the fact that the EIB proceeds with financing of projects without taking into consideration the necessity of establishing an investment committee as requested by the Parliament;
Amendment 81 #
Draft opinion
Paragraph 6
Paragraph 6
6. Calls on the EIB to refrain from cooperating with financial partners with a negative track record and to enforceho in the past have repeatedly breached the guidelines laid down in the EIB's Code of Conduct; welcomes prevention measures against financing linked to tax havens, fraud and evasion as well as aggressive tax avoidanceplanning;
Amendment 93 #
Draft opinion
Paragraph 7
Paragraph 7
7. Calls on the EIB to re-evaluate the private-public partnerships in terms of to determine whetheir profitability for the relevant economies and societies and to examine alternative methods of funda greater focus on alternative funding instruments, and in particular on boosting, possibly through increasing public investmentsrivate investment, could make public-private partnerships more effective;
Amendment 120 #
Draft opinion
Paragraph 8 a (new)
Paragraph 8 a (new)
8a. Calls for an improvement of communication channels, especially with regard to the Parliament; urges to communicate measures and procedures, such as the regulatory framework and lending mechanism of EFSI coherently so as to not shy away investors and stakeholders;