Activities of Lola SÁNCHEZ CALDENTEY related to 2014/2205(INI)
Plenary speeches (1)
Private sector and development (A8-0043/2016 - Nirj Deva) ES
Shadow reports (1)
REPORT on the private sector and development PDF (374 KB) DOC (188 KB)
Amendments (79)
Amendment 7 #
Motion for a resolution
Citation 16 a (new)
Citation 16 a (new)
- having regard to the Investment Policy Framework for Sustainable Development (IPFSD) of the UNCTAD1, _____ 1http://unctad.org/en/PublicationsLibrary/ diaepcb2012d5_en.pdf,
Amendment 12 #
Motion for a resolution
Citation 18 c (new)
Citation 18 c (new)
- having regard to the ILO Decent Work Agenda,
Amendment 14 #
Draft opinion
Paragraph 2
Paragraph 2
2. Recalls that, under Article 208 of the Treaty on the Functioning of the European Union,Stresses that EU trade, investment and development policies are interlinked and have a direct impact in the developing countries; Recalls that the EU's common commercial policy mustshall take account of the principle of policy coherence for development, under Article 208 of the Treaty on the Functioning of the European Union, requiring that the objectives of development cooperation be taken into account in policies that are likely to affect developing countries; and considers that this principle must be referred to explicitly in all EU trade and investment agreements;
Amendment 17 #
Draft opinion
Paragraph 2 a (new)
Paragraph 2 a (new)
2a. Reminds that private finance cannot be seen as a substitute of public finance7 and the private sector cannot, and should not, substitute the role of governments in their obligation to safeguard human rights and in investing in the provision of basic services like health and education;
Amendment 23 #
Motion for a resolution
Recital B
Recital B
B. whereas substantial investments are required, with estimates of the funds needed in developing countries amounting to USD 2.4 trillion more per year than what is currently being spent; whereas private financing can complement, but not substitute public funding;
Amendment 24 #
Draft opinion
Paragraph 3
Paragraph 3
3. Highlight that although further finance is needed to face sustainable development challenges, the private sector potentialities for helping the achievement of sustainable development goals are limited; Points out that current EU practices to leverage private finance with official development assistance (ODA) have proved ineffective owing to a lack of clarity as regards additionality, transparency, accountability, ownership, alignment with country priorities, debt sustainability and, consequently, development impact;
Amendment 29 #
Motion for a resolution
Recital B c (new)
Recital B c (new)
Bc. whereas the 1986 UN Declaration on the Right to Development affirms development as a fundamental human right; whereas the Declaration commits to a "human rights based" approach, characterized by the realisation of all human rights (economic, social, cultural, civil and political); and whereas the Declaration commits equally to strengthen international cooperation;
Amendment 34 #
Motion for a resolution
Recital B e (new)
Recital B e (new)
Be. whereas import tariffs play a vital role in providing government revenues and enabling nascent industries to grow within developing countries' own domestic market; and whereas import tariffs on processed agricultural products can create space for value addition and job creation within rural economies, while also promoting food security;
Amendment 35 #
Draft opinion
Paragraph 4
Paragraph 4
4. Stresses the need for EU trade policy to respect the policy space of developing countries so as to maintain robust import tariffs that facilitate the creation of skilled and decent jobs within local manufacturing and agro-processing industries as possible enablers of higher domestic value-added, industrial growth and diversification, which are a key component in economic and social upgrading; Calls on the European Union and its Member States to promote concrete measure so transnationals are taxed by the jurisdiction of the country in whey they source or produce the income;
Amendment 38 #
Motion for a resolution
Recital B g (new)
Recital B g (new)
Bg. whereas the cooperative sector worldwide has about 800 million members in over 100 countries and is estimated to account for more than 100 million jobs around the world;
Amendment 41 #
Motion for a resolution
Recital B h (new)
Recital B h (new)
Bh. whereas 2012 was declared by the United Nations the International Year of Cooperatives, to highlight their role on development, empowering people, enhancing human dignity and helping achieve the Millennium Development Goals (MDGs);
Amendment 44 #
Draft opinion
Paragraph 5
Paragraph 5
5. Calls for measures to promote nationally owned development strategies that shape private-sector contribution to development by enhancing local micro, small and medium-sized enterprises and local procurement, which are essential for endogenous development and can strengthen the capacity of developing countries for mobilising domestic revenue, fighting tax fraud and tax evasion, and mitigating currency and commodity price volatility, which endanger access to value chains; Stress the risks of supporting EU companies through development policy given the need for additional development resources and the risk of increasing aid tied to the delivery of European goods and services;
Amendment 46 #
Motion for a resolution
Recital C c (new)
Recital C c (new)
Cc. whereas fiscal space of developed and developing countries is de facto constrained by requirements of global investors and financial markets; whereas according to the IMF, developing countries are particularly affected by corporate tax avoidance, as they rely more on corporate income tax for raising revenues than OECD countries; whereas practices which facilitate tax dodging by transnational corporations and individuals are widely used by the EU Member States;
Amendment 53 #
Motion for a resolution
Recital D
Recital D
D. whereas, in the absence of a widely accepted definition, public-private partnerships (PPPs) can be defined as multi-stakeholder arrangements between private actors, public bodies and civil society organisations (CSOs), which seek to achieve a mutually beneficial public objective by means of sharing resources and/or expertise;
Amendment 54 #
Motion for a resolution
Recital D a (new)
Recital D a (new)
Da. whereas social dialogue and trade union rights constitute an essential pillar of the ILO Decent Work Agenda and an important tool to ensure that private sector engage effectively in the fulfilment of SDGs; but whereas in a largely globalised economy, labour's bargaining power has been reduced through liberalisation, which jeopardises in return fulfilment of the rights listed in the Universal Declaration of Human Rights of 1948 and the ILO Decent Work Agenda;
Amendment 55 #
Motion for a resolution
Recital E
Recital E
Amendment 57 #
Motion for a resolution
Recital F
Recital F
Amendment 60 #
Motion for a resolution
Recital F
Recital F
F. whereas existing research shows that a large majority of PPPs is an expensive financing model and is not based on robust impact analysis, while there are weak evidence on their development outcomes; whereas PPP raise challenges in terms of state indebtedness, transparency and accountability; but whereas well-designed and efficiently implemented PPPs have the capacity to mobilise long-term private and public finance, generate innovation in technologies and business models, and incorporate built-in mechanisms to ensure that such partnerships are held accountable to development results;
Amendment 63 #
Motion for a resolution
Recital F a (new)
Recital F a (new)
Fa. whereas privatisation of basic utilities in Sub-Saharan Africa in the 1990s has i.a. hampered the achievement of MDGs on both water and sanitation, as the focus of investors on cost recovery has among others intensified inequalities in the provision of such services, at the expense of low-income households; whereas in light of the failure of water privatisation, the transfer of water services from private companies to local authorities is a growing trend in the water sector all around the world;
Amendment 67 #
Motion for a resolution
Recital G
Recital G
G. whereas nearly two thirds of European Investment Bank (EIB) lending to Asifrican, Caribbean and Pacific (ACP) countries in the past ten years has been geared towards private sector operations; whereas the EIB Cotonou Investment Facility has been recognised as a unique, risk-bearing revolving fund for financing higher-risk investment in support of private sector development;
Amendment 73 #
Motion for a resolution
Recital H a (new)
Recital H a (new)
Ha. whereas social dialogue is an important tool to support gender equality in the workplace and to guard against exploitative production patterns that adversely affect the lives of young women workers;
Amendment 78 #
Motion for a resolution
Recital I
Recital I
I. whereas, in the context of the Agenda for Change, blending is recognised as an important instrument for leveraging additional resources by combining EU grants with loans or equity from public and private financiers; but whereas the European Court of Auditors Special Report No 16/2014 on the use of blending concluded that for nearly half of the projects examined, there was insufficient evidence to conclude that the grants were justified, while for a number of these cases, there were indications that the investments would have been made without the EU contribution;
Amendment 83 #
Motion for a resolution
Recital I c (new)
Recital I c (new)
Ic. whereas global wealth is increasingly being concentrated in the hands of a small wealthy elite and it is expected that the richest 1% percent will own more than half of the global wealth by 2016;
Amendment 85 #
Motion for a resolution
Recital I e (new)
Recital I e (new)
Ie. whereas fair and progressive taxation with welfare and social justice criteria plays a key role in reducing inequalities by shaping the redistribution of wealth from higher income citizens to those most in need in a country;
Amendment 86 #
Motion for a resolution
Paragraph 1
Paragraph 1
Amendment 95 #
Motion for a resolution
Paragraph 1 c (new)
Paragraph 1 c (new)
1c. Stresses that EU trade, investment and development policies are interlinked and have a direct impact in the developing countries; reminds that Article 208 of the Lisbon Treaty establishes the principle of policy coherence for development, requiring that the objectives of development cooperation be taken into account in policies that are likely to affect developing countries;
Amendment 99 #
Motion for a resolution
Paragraph 1 f (new)
Paragraph 1 f (new)
1f. Reminds that Private finance cannot replace public finance as the private sector cannot substitute the role of governments in their obligation to safeguard human rights and to in providing public services like health, education, housing, sanitation and access to water;
Amendment 100 #
Motion for a resolution
Paragraph 1 g (new)
Paragraph 1 g (new)
1g. Calls for more public investment in public services accessible for all, especially in the transport sector, access to drinking water, health and education;
Amendment 101 #
Motion for a resolution
Paragraph 1 h (new)
Paragraph 1 h (new)
1h. Emphasises that the future partnerships within the post-2015 development agenda must have a greater focus on tackling poverty and inequality;
Amendment 102 #
Motion for a resolution
Paragraph 1 i (new)
Paragraph 1 i (new)
1i. Highlight that although further finance is needed to face sustainable development challenges, the private sector potentialities for helping the achievement of sustainable development goals are limited since the pursuit of profits in social and basic services is incompatible with a sustainable development, especially in countries where market regulations and governments are weak and corruption is common;
Amendment 103 #
Motion for a resolution
Paragraph 1 j (new)
Paragraph 1 j (new)
1j. Underlines that current EU practices to leverage private finance with official development aid (ODA) have proved to be ineffective due to lack of clarity on additionally, transparency, accountability, ownership and alignment with country priorities and debt sustainability risk;
Amendment 104 #
Motion for a resolution
Paragraph 2
Paragraph 2
2. Emphasises that all partnerships and alliances with the private sector must focus on shared valuebe properly regulated, comply with international standards on development effectiveness, allying with developing countries development priorities thatand align business goals with the EU's development objectives; be co-designed and co-managed to ensure that risks, responsibilities and profits are shared; be cost-effectivewith developing countries; be pro-poor; and have precise development targets, clear accountability and transparency;
Amendment 109 #
Motion for a resolution
Paragraph 2 b (new)
Paragraph 2 b (new)
2b. Calls on the EU and its Member States to develop a clear and concrete strategy to ensure private sector alignment to development priorities of national governments and civil society;
Amendment 110 #
Motion for a resolution
Paragraph 2 c (new)
Paragraph 2 c (new)
2c. Calls on the European Commission to promote, support, and finance public- public-partnerships as the first option and to include mandatory and publicly available ex-ante poverty and social impact assessments when development programs are implemented together with the private sector;
Amendment 111 #
Motion for a resolution
Paragraph 2 d (new)
Paragraph 2 d (new)
2d. Calls on the European Union to include formal consultation with civil society organisations and with communities directly and indirectly impacted by development projects;
Amendment 112 #
Motion for a resolution
Paragraph 2 e (new)
Paragraph 2 e (new)
2e. Calls on the European Union to develop a robust due diligence mechanisms to enhance private sector role in development accountability;
Amendment 115 #
Motion for a resolution
Paragraph 3
Paragraph 3
3. Highlights the vast potential of the EU's value added in partnering with the private sector, in close coordination with its Member Statessupporting private sector development in developing countries, in close coordination with its Member States; calls on the EU to respect developing countries' policy space to create regulatory frameworks conductive to pro- poor private sector development, which implies among others to acknowledge their right to set a robust import tariff regime that allows nascent manufacturing to prosper; their right to set automatic safeguards mechanisms against import flooding that would destabilise domestic industries and threaten local jobs and their right to put in place regulations to maximize domestic revenue mobilisation as part of Financing for Development;
Amendment 122 #
Motion for a resolution
Paragraph 3 d (new)
Paragraph 3 d (new)
3d. Stress the risks of supporting EU companies through development aid given the need for additional development resources and the risk of increasing aid tied to the delivery of European goods and services;
Amendment 123 #
Motion for a resolution
Paragraph 4
Paragraph 4
Amendment 127 #
Motion for a resolution
Paragraph 4 a (new)
Paragraph 4 a (new)
4a. Calls on the EU to promote nationally-owned development strategies shaping private sector contribution to development by engaging with private sector in development framework that focuses on domestic cooperatives and small and medium sized enterprises (SMEs), micro enterprises, in particular, smallholder farmers as they offer the greatest potential to drive equitable development in countries;
Amendment 129 #
Motion for a resolution
Paragraph 4 b (new)
Paragraph 4 b (new)
4b. Call on the EU to strengthen capacity of developing countries for domestic revenue mobilisation and fighting tax fraud and tax evasion;
Amendment 130 #
Motion for a resolution
Paragraph 5
Paragraph 5
Amendment 138 #
Motion for a resolution
Paragraph 6
Paragraph 6
6. Calls for DG DEVCO to work with DG Enterprise in repHighlights the need to maximising domestic resource mobilicsating regional support structures for SMMEs in developing countries aimed at helping them enter legality, get access to finance and capital, obtain market access and overcome legal obstaclon and minimising tax evasion in developing countries as a way to enable Least Developed Countries and fragile states to build more effective and stable governance institutions, as a prerequisite to private sector development; to that effect, calls on the EU to upgrade its financial and technical assistance in developing countries;
Amendment 144 #
Motion for a resolution
Paragraph 6 b (new)
Paragraph 6 b (new)
6b. Reiterates EU's responsibility in supporting a fair global tax system, which implies establishing effectively mandatory requirements for public country-by- country reporting of Transnational Corporations; establishing Public Registers of the Beneficial Owners of Companies, Trusts and similar legal entities; ensuring automatic exchange of tax information and a fair distribution of taxing rights while negotiating tax and investment treaties with developing countries; deems equally that DFIs should only invest in companies and funds that are willing to publicly disclose beneficial ownerships and report back their financial accounts on a country-by- country basis;
Amendment 148 #
Motion for a resolution
Paragraph 6 d (new)
Paragraph 6 d (new)
6d. Recalls that tariff regimes are an essential component of a regulatory environment tailored to pro-poor private sector development and job creation; but notes with concern that Economic Partnership Agreements (EPAs) mandate import tariff reduction across a wide range of ACP countries economic sectors, while eliminating all tariffs on EU imports would considerably lower tariff revenues, in some cases by as much as 15- 20% of government revenues; urges the EU to frame its trade policy in line with the principle of Policy Coherence for Development;
Amendment 152 #
Motion for a resolution
Paragraph 6 f (new)
Paragraph 6 f (new)
6f. Notes with concern that rules on investment protection, which give very strong rights to foreign investors, have reduced governments policy space to regulate in the public interest, especially in the case of Investor-State Dispute Settlement; in this context, reasserts that governments and parliaments of developing countries must retain the right to regulate private investment, including the right to discriminate in favour of investors that support the country's development;
Amendment 153 #
Motion for a resolution
Paragraph 7
Paragraph 7
Amendment 160 #
Motion for a resolution
Paragraph 8
Paragraph 8
8. Calls on the Commission and the Member States to step up their efforts to promote the economic empowerment of women; notes that a savings-led approach to the financial inclusion of women has a proven track record; recommends a gender mainstreaming approach in all partnership programmes, combined with entrepreneurship training for women and youth;
Amendment 167 #
Motion for a resolution
Paragraph 9
Paragraph 9
9. Highlights that the potential of the private sector's contribution to long-term sustainable development goes beyond its financial resources, and includes its experience and expertise, and the local establishment of value chains and distribution channels, resulting in job creation, increased reach and effectiveness, and increased access to commercially available and affordable products, services and technologyonly a properly regulated and accountable private sector could contribute to long-term sustainable development;
Amendment 171 #
Motion for a resolution
Paragraph 9 b (new)
Paragraph 9 b (new)
9b. Stresses that social dialogue is essential to ensure that private sector engages effectively in development; insists upon developing countries' responsibility to support social dialogue between private sector employers, workers and national governments as a way to improve good governance and state stability; in particular, calls on developing countries to ensure that social dialogue is extended to Export Processing Zones (EPZs) and to industrial clusters;
Amendment 177 #
Motion for a resolution
Paragraph 10
Paragraph 10
10. EmphCalls on the EU to assises that the private sector must be pt developing countries to put into practice the four strategic pillarts of the policy dialogue, alongside all other development partners; ILO Decent Work agenda, namely job creation, rights at work, social protection and social dialogue, with gender equality as a crosscutting objective;
Amendment 182 #
Motion for a resolution
Paragraph 10 b (new)
Paragraph 10 b (new)
10b. Highlight the positive role of cooperatives as catalysts of socially- inclusive development and their capacity to empower communities through jobs and income generation; in particular, points out that workers have formed shared service cooperatives and associations to assist in their self- employment in the informal economy, while in rural areas, savings and credit cooperatives provides access to banking services that are lacking in many communities and finance the formation of small and micro businesses; hence, calls for a strong commitment of the Commission to encourage the development of cooperatives in developing countries as an important tool of social inclusion;
Amendment 184 #
Motion for a resolution
Paragraph 11
Paragraph 11
Amendment 188 #
Motion for a resolution
Paragraph 12
Paragraph 12
Amendment 192 #
Motion for a resolution
Paragraph 12 a (new)
Paragraph 12 a (new)
12a. Notes with concern that many developing countries find themselves in a very weak bargaining position in face of some foreign direct investors making extensive use of tax subsidies and exemptions, thereby weakening their ability to mobilise domestic resources; calls on the EU and donor community to scale up their cooperation on tax matters as a means to improve democratic governance, especially in fragile states; and calls on developing countries to enact regulations to ensure that the private sector contributes to development through fair and transparent taxation;
Amendment 194 #
Motion for a resolution
Paragraph 13
Paragraph 13
Amendment 198 #
Motion for a resolution
Paragraph 13 a (new)
Paragraph 13 a (new)
13a. Notes with concern that many donor- funded PPP programs are only accessible for firms from donor countries; hence, fears that the promotion of PPPs in developing countries could result in a new form of aid tying; recalls that development aid should be tied to the objective of poverty eradication only, not to the promotion of EU trade interests policy;
Amendment 201 #
Motion for a resolution
Paragraph 14
Paragraph 14
14. HStresses that PPPs should not be diverted to subsidising Northern-based transnational companies which can access alternative sources of financing; believes that all PPPS financed through blending mechanism should in all circumstances be aligned on the host country National Plan of development; highlights the vast potential for PPPs in agriculture, under a clearly defined legislative framework for property rights, to prevent land grabbing;
Amendment 205 #
Motion for a resolution
Paragraph 15
Paragraph 15
Amendment 214 #
Motion for a resolution
Paragraph 16
Paragraph 16
Amendment 218 #
Motion for a resolution
Paragraph 16 c (new)
Paragraph 16 c (new)
16c. Stresses that the use of PPPs have been problematic due to a lack of contract transparency, lack of assessing methodologies and lack of clear and transparent regulatory framework to prevent corruption;
Amendment 219 #
Motion for a resolution
Paragraph 16 d (new)
Paragraph 16 d (new)
16d. Underlines that developing governments' capacities as regulators must be strengthened to successfully achieve a sustainable development based on distributive and social justice; stresses that, opposite to the negative impacts of PPPs, which allow private partners to have their risk almost completely covered by governments by transferring the business risk to the public sector, the increase of the public-public partnership is a mechanism to rehabilitate or improve government-operated infrastructure enterprises;
Amendment 220 #
Motion for a resolution
Paragraph 16 e (new)
Paragraph 16 e (new)
16e. Notes that PPPs must not be the way to transfer the risk from rich private companies to taxpayers in poor countries;
Amendment 221 #
Motion for a resolution
Paragraph 16 f (new)
Paragraph 16 f (new)
16f. Rejects public-private partnerships (PPPs) as a mechanism which is used to enforce developing countries to privatise state-run utilities and transfer the responsibility for improving public services into private hands;
Amendment 224 #
Motion for a resolution
Paragraph 17
Paragraph 17
17. Highlights that engagement with the enterprisprivate sector requires a flexible approach; recommends a differentiated approach with regards to least developed countries and fragile statewell regulated and accountable framework which ensures the compliance with the policy coherence for development principle, development effectiveness principles and with development policy objectives, concretely poverty and inequality reductions;
Amendment 228 #
Motion for a resolution
Paragraph 18
Paragraph 18
18. Welcomes the criteria outlined in the Commission's communication on private sector and development, for the provision of direct support to the private sector; calls for the setting up of a clearly defined mandatory framework agreement governing all partnerships with the private sector that can confer the implementation benchmarks that need to be followed, and which are currently lacking in the Communicamust ensure the compliance with the policy coherence for development principle, development effectiveness principles and with development policy objectives, concretely poverty and inequality reductions;
Amendment 231 #
Motion for a resolution
Paragraph 19
Paragraph 19
19. Is concerned that safeguards to guarantee the purposeful use of public finance are not always in place; stresses that measurable output indicatorin particular, notes that the goals of PPPs are often defined in a very general way, while criteria for specific, measurable, attainable and timely objectives are usually absent; stresses that PPPs should be a tool which rewards responsible behaviour by private firms; accordingly, deems that a strong regulatory framework shall be put in place to ensure these investments comply with human rights, social and environmental standards, transparency, while ensuring that the private sector pays its fair share of taxes; insists upon the need to conduct an ex ante pro-poor impact assessment for each PPP project that benefits from official development aid; stresses that measurable output indicators and monitoring as well as evaluation mechanisms must be agreed upon in the preparatory phase of the projects; stresses the importance of risk assessment, debt sustainability, transparency and investment protection; highlights the importance of the formal consultative and scrutiny role of national parliaments, and of civil society; in order to ensure full transparency and accountability;
Amendment 237 #
Motion for a resolution
Paragraph 20
Paragraph 20
20. Calls on the Commission and the Member States to ensure that enterprises involved in development partnerships abide by the principles of corporate social responsibility (CSR) throughout the whole lifecycle of projects, including by respecting the UN Global Compact on human rights, UN Guiding Principles on Business and Human Rights, ILO core labour standards, environmental standards, UN Convention Against Corruption; highlights the need for Member States to draw up national plans to implement the UN Guiding Principles on Business and Human Rights and especially the due diligence regulation;
Amendment 247 #
Motion for a resolution
Paragraph 21
Paragraph 21
21. Calls on the European institutions and bodies to establish a clear and, structured, transparent and accountable framework for governing partnerships and alliances with the private sector in developing countries;
Amendment 248 #
Motion for a resolution
Paragraph 21 a (new)
Paragraph 21 a (new)
21a. Calls the EU and its Member States to develop a clear and concrete strategy to ensure private sector alignment to development priorities of national governments of developing countries;
Amendment 249 #
Motion for a resolution
Paragraph 21 b (new)
Paragraph 21 b (new)
21b. Calls for the review of existing trade and investment agreements in order to identify all areas, especially intellectual property rights provisions, that may negatively affect development;
Amendment 250 #
Motion for a resolution
Paragraph 21 c (new)
Paragraph 21 c (new)
21c. Calls on the European Union and its Member States to promote concrete measures so transnational companies are taxed by the jurisdiction of the country where they source or produce the income;
Amendment 252 #
Motion for a resolution
Paragraph 22
Paragraph 22
22. Calls for the setting up at EU level of sectorial, multi-stakeholder platforms, bringing together the private sector, CSOs, NGOs, think tanks, partner governments, donors and other stakeholders, in order to overcome the reservations and the lack of trust among partners; underlines in this respect the important role of EU delegations in the respective countries as a facilitator of such dialogues;
Amendment 258 #
Motion for a resolution
Paragraph 23
Paragraph 23
23. WelcomeRejects the Commission's intention to expand the scope of blending to include areas beyond infrastructure, such as sustainable agriculture, social sectors and local private sector development; insists, however, that all blending operations must be fully consistent with development policy, making sure that it pursue the SDGs; calls on the Commission to strengthen its management capacities with regard to blending projects,without a robust, transparent and accountable framework which ensures alignment with development effectiveness principles and development objectives to ensure its development additionally is established as recommended by the Court of Auditors;
Amendment 260 #
Motion for a resolution
Paragraph 23 a (new)
Paragraph 23 a (new)
23a. Calls on the EIB and other EU Member States´ Development Financial Institutions to urgently ensure that, in case companies receive their support, they do not participate in tax evasion by using offshore centres and tax havens;
Amendment 265 #
Motion for a resolution
Paragraph 24
Paragraph 24
24. Calls for an expansion review of the current EIB external lending mandate, to increase its role in achieving sustainable development and, in particular, to take a more active part in the new private sector strategy – through blending, co-financing of projects and local private sector development – with a focus on low- income countries and fragile states; calls, furthermore, for greater transparency and accountability in partnerships and projects associated with the EIB in order to ensure alignment with development effectiveness principles and development objectives in order to increase its role in achieving sustainable development;
Amendment 268 #
Motion for a resolution
Paragraph 25
Paragraph 25
Amendment 269 #
Motion for a resolution
Paragraph 26
Paragraph 26
Amendment 277 #
Motion for a resolution
Paragraph 27
Paragraph 27
27. Emphasises that the responsibility for effective joint action lies not only with the donors and the enterprises involved, but also with the partner governments; stresses that the rule of law, a framework for business reform, anti-corruption measures, public financial management and effective public institutions are paramount to investment, innovation and private sector development; highlight that channelling development aid to these purposes promotes also the possibilities of private sector to function in developing countries;