Activities of Barbara KAPPEL related to 2018/2161(INI)
Plenary speeches (2)
Annual report on the financial activities of the European Investment Bank (debate) DE
Annual report on the financial activities of the European Investment Bank (debate) DE
Reports (1)
REPORT on the Annual Report on the financial activities of the European Investment Bank PDF (361 KB) DOC (77 KB)
Amendments (29)
Amendment 12 #
Motion for a resolution
Recital C
Recital C
C. whereas the EIB also plays an important role outside the EU through its external lending activities as the world’s biggest multilateral borrower and lender, including financing and advising on sustainable investment across the globe;
Amendment 13 #
Motion for a resolution
Recital E a (new)
Recital E a (new)
E a. whereas safeguards against fraud, including tax fraud and money laundering, and risks of financing terrorism are incorporated in the EIB Group contractual provisions included in the contracts signed by the EIB Group and its counterparties; whereas the EIB Group should require that its counterparties comply with all applicable legislation; whereas additional contractual provisions addressing specific transparency and integrity issues should be imposed by the EIB Group on the basis of due diligence results;
Amendment 15 #
Motion for a resolution
Recital E b (new)
Recital E b (new)
E b. whereas the EIB Group should maintain a high credit standing as a fundamental asset of its business model and a high-quality, solid asset portfolio with sound investment projects under the EFSI and all financial instruments in its portfolio;
Amendment 21 #
Motion for a resolution
Paragraph 1
Paragraph 1
1. Congratulates the EIB onwith its anniversary of 60 years of successful operations, dur in 2018, ing which ithe EIB has invested EUR 1.1 trillion and financed 11 800 projects in 160 countries as, having turned into the world’s biggest multilateral borrower and lender, providing financing, leveraging additional investment through its blending activities and advising on sustainable investments across the globe;
Amendment 33 #
Motion for a resolution
Paragraph 3
Paragraph 3
3. Recognises the EIB’s responsibility to intervene when there are specific market failures, such as the financial crisis and difficulties in accessing finance for SMEs and innovators; applauds the success of the European Fund for Strategic Investments (EFSI), under which 898 operations have been approved and which is expected to trigger EUR 335 billion in investment across the 28 EU Member States, of which two thirds raised by private resources, outperforming the original goal of EUR 315 billion set in 2015; draws the attention to the decision of the European Council and the European Parliament to extend its duration and capacity to EUR 500 billion by end 2020;
Amendment 43 #
Motion for a resolution
Paragraph 4 a (new)
Paragraph 4 a (new)
4 a. Points out the fact that in 2017 alone, a record number of 901 projects have been approved of which more than EUR 78 billion for innovation, environment, infrastructure, and small and medium-sized enterprises;
Amendment 45 #
Motion for a resolution
Paragraph 4 b (new)
Paragraph 4 b (new)
4 b. Underlines the EIB activities in support of economic and social cohesion which consisted of financing of more than 200 billion euro for regions in the last 10 years;
Amendment 49 #
Motion for a resolution
Paragraph 4 c (new)
Paragraph 4 c (new)
4 c. Welcomes the steps the EIB has taken to better measure the impact of its investments compared to only the quantitative volumes of financing provided;
Amendment 51 #
Motion for a resolution
Paragraph 4 d (new)
Paragraph 4 d (new)
4 d. Stresses that the EIB’s activities were key to address post-crisis recovery and investment levels, which are still uneven across member states and regions as well as sectors; calls on the EIB to further invest in EU countries in order to contribute to their economic recovery; particular emphasis should be given to financing in the innovation and infrastructure sectors where the investment gap is particularly severe;
Amendment 64 #
Motion for a resolution
Paragraph 6
Paragraph 6
6. Welcomes the fact that in 2017, the EIB lent EUR 16.67 billion for projects supporting its environment policy goals financing projects in the area of environmental protection, renewable energy, energy efficiency, biodiversity, clean air, clean water, water and waste management, and sustainable transport;
Amendment 68 #
Motion for a resolution
Paragraph 6 a (new)
Paragraph 6 a (new)
6 a. Welcomes that in 2017, the EIB committed to climate loans more than 25% of total lending across all its public policy areas;
Amendment 74 #
Motion for a resolution
Paragraph 7
Paragraph 7
7. Recognises the EIB’s status as the world’s largest issuer of green bonds; and that these Climate Awareness Bonds offer investors a transparent link to renewable energy and energy efficiency projects that benefit from the proceeds of the EIB’s green bond issues, being based on the EIB’s reporting system on the climate benefits of projects including impact indicators such as greenhouse gas emissions avoided, absolute emission levels, energy consumption saved and additional power generation installed; welcomes in this regard the EIB’s first issuance of Sustainability Awareness Bonds, amounting to EUR 500 million that will be dedicated to high impact projects in support of the UN Sustainable Development Goals while ensuring the confidence of socially responsible investors through rigorous transparency and market standards;
Amendment 89 #
Motion for a resolution
Paragraph 9 a (new)
Paragraph 9 a (new)
9 a. Recalls that according to the EIB, large firms are twice as likely as SMEs to be innovators; and innovative young firms are 50%more likely than other firms to be credit-constrained; urges the EIB to support smaller companies with smaller loans, in order to have a bigger impact on a broader cross-section of the European economy;
Amendment 112 #
Motion for a resolution
Paragraph 12
Paragraph 12
Amendment 114 #
Motion for a resolution
Paragraph 13
Paragraph 13
13. Stresses the importance of developing economic resilience in host and transit countries by supporting the creation of jobs and construction of infrastructure needed for the local population, as well as the displaced population; welcomes the fact that refugee communities may also benefit from opportunities to develop their self-reliance and live in dignitys; underlines that the investments in economic resilience will contribute to improvinge the preparedness of the regions for future external shocks, and ideally also contribute to enhanced stability in fragile countries and to effectively preventing mass-immigration to Europe;
Amendment 119 #
Motion for a resolution
Paragraph 14
Paragraph 14
14. Recognises the achievements of the EFSI by its third anniversary and welcomes the EUR 335 billion in investment mobilised across the Union since the adoption of the EFSI Regulation1 by the co-legislators; welcomes that EFSI projects have been approved for all Members States and the improved geographical balance achieved, with younger EU-13 member states now collectively benefitting over-proportional to their share in EU GDP while stressing the importance of continuing to avoid geographical imbalances in the EIB’s lending activity, so as to ensure a broad geographical and sectoral allocation without compromising the high quality of projects and the market driven nature of the EFSI; _________________ 1 Regulation (EU) 2015/1017.
Amendment 123 #
Motion for a resolution
Paragraph 15
Paragraph 15
15. Recognises the intensified cooperation of the EIB Group with national promotional banks and institutions (NPBIs) and calls on the EIB to continue strengthening its work with NPBIs in order to ensure outreach and further develop advisory activities and technical assistance to support a geographical balance in the long term; notes a wide variety of experiences in terms of EFSI projects; supports and encourages the further exchange of best practices between the EIB and the Member States in order to ensure further economic efficiency;
Amendment 128 #
Motion for a resolution
Paragraph 15 a (new)
Paragraph 15 a (new)
15 a. Welcomes improvements to transparency achieved via the publication of the Scoreboard of indicators for projects supported by the EFSI guarantee and of the Rationale of the independent Investment Committee for its decision, in line with the revised Regulation;
Amendment 134 #
Motion for a resolution
Paragraph 15 b (new)
Paragraph 15 b (new)
15 b. Recognises the improving possibility to blend EFSI financing with other instruments through the Omnibus legislation and encourages continued work towards better complementarity of Union financial instruments;
Amendment 137 #
Motion for a resolution
Paragraph 15 c (new)
Paragraph 15 c (new)
15 c. Recalls its recognition of the need to provide continuity in the support of market-driven mechanisms such as EFSI that support long-term investment in the real economy, mobilise private investment and generate a substantive macroeconomic impact and jobs in sectors that are important to the Unions future beyond the current MFF;
Amendment 140 #
Motion for a resolution
Paragraph 15 d (new)
Paragraph 15 d (new)
15 d. Encourages a timely establishment of a follow-on initiative for the post-2020 period to provide said continuity, which should incorporate lessons learned from EFSI, retain key success factors such as the setting of political priority targets at the portfolio level that may change over time in order to remain most relevant for the future of the Union, the proven governance structure, a clear definition of roles and responsibilities between the public guarantor and the financier, while supporting the unity of the Common Market;
Amendment 143 #
Motion for a resolution
Paragraph 15 e (new)
Paragraph 15 e (new)
15 e. Welcomes the EIB’s important role in financing outside the EU through its external lending activities. Highlights especially the EIB’s efficient management of the External Lending Mandate, as confirmed by an independent evaluation in June 2018, which recognises its relevance and effectiveness in providing EU financing to third countries at a minimal cost to the Union budget;
Amendment 145 #
Motion for a resolution
Paragraph 15 f (new)
Paragraph 15 f (new)
15 f. Welcomes the EIB’s management of the ACP Investment Facility, which mainly provides projects promoting the development of the private sector while. In this respect, underlines that it is crucial that the EIB’s central role, as the EU’s bilateral financial arm, will be firmly reflected in the post-2020 architecture for financing outside the Union;
Amendment 148 #
Motion for a resolution
Paragraph 15 g (new)
Paragraph 15 g (new)
15 g. Welcomes the Anti-Money Laundering and Combating Financing of Terrorism Framework adopted by the EIB in January 2018, establishing the key principles regulating AML-CFT and related integrity aspects in EIB Group activities;
Amendment 149 #
Motion for a resolution
Paragraph 15 h (new)
Paragraph 15 h (new)
15 h. Welcomes the progress that the EIB has made in adopting the highest standards with a view to preventing tax fraud, tax evasion, tax avoidance, aggressive tax planning, money laundering and financing of terrorism by fully applying EU policies and standards, for instance the EU list of non- cooperative jurisdictions for tax purposes; calls on the EIB, in this regard, to end cooperation with intermediaries, countries and jurisdictions that are on the EU list of non-cooperative tax jurisdictions;
Amendment 152 #
Motion for a resolution
Paragraph 15 i (new)
Paragraph 15 i (new)
15 i. Encourages the EIB to continue its practice to identify the beneficial ownership of recipients of EIB financing;
Amendment 153 #
Motion for a resolution
Paragraph 15 j (new)
Paragraph 15 j (new)
15 j. Welcomes the fact that the EIB takes into account the tax impact in countries where investment is made and how this investment contributes to economic development, job creation and the reduction of inequality;
Amendment 158 #
Motion for a resolution
Paragraph 16 a (new)
Paragraph 16 a (new)
16 a. Recalls that the United Kingdom has a share in the EIB’s capital of 16,1%, amounting to 39.2 billion euros;
Amendment 159 #
Motion for a resolution
Paragraph 16 b (new)
Paragraph 16 b (new)
16 b. Agrees with the Commission that UK liability resulting from EIB financing should be maintained and decreased inline with the amortisation of the EIB portfolio;