Activities of Alin MITUȚA related to 2021/2235(INI)
Shadow reports (1)
REPORT on the control of the financial activities of the European Investment Bank – annual report 2020
Amendments (22)
Amendment 2 #
Motion for a resolution
Recital C a (new)
Recital C a (new)
C a. Whereas the EIB is bound by the EU Charter of Fundamental Rights and that human rights principles are integrated into its due diligence procedures and standards, including publicly available ex-ante assessments;
Amendment 7 #
Motion for a resolution
Recital I a (new)
Recital I a (new)
I a. whereas the EIB plays an important role outside the EU through its external lending activities as the biggest multilateral financial institution in the world;
Amendment 8 #
Motion for a resolution
Paragraph 1 a (new)
Paragraph 1 a (new)
1 a. Reiterates its call for a fair and transparent geographical distribution of projects and investment, with a focus on less-developed regions, especially in innovation, digitalisation and infrastructure, with the view to promote inclusive growth and economic, social and territorial convergence and cohesion; calls for the EIB to address recurring shortcomings that prevent certain regions or countries from taking full advantage of the EIB's financial activities;
Amendment 9 #
Motion for a resolution
Paragraph 4
Paragraph 4
4. Takes note of the net profit of EUR 1.7 billion reported by the EIB for 2020, in comparison to EUR 2.4 billion in 2019 ;
Amendment 10 #
Motion for a resolution
Paragraph 8
Paragraph 8
8. Notes with appreciation that despite the general context of uncertainty in the global financial markets due to the COVID-19 pandemic, the EIB continues to maintain a robust liquidity position; Underlines the Bank’s total liquidity ratio remains well within internal limits, covering 78.1% of projected net cash outflows (compared to 88.6% in 2019).
Amendment 11 #
Motion for a resolution
Paragraph 8 a (new)
Paragraph 8 a (new)
8 a. Calls on the EIB to prioritise through its lending activities in social, green and sustainable projects, the implementation of the Sustainable Development Goals (SDGs) of the UN 2030 Agenda for Sustainable Development;
Amendment 12 #
Motion for a resolution
Paragraph 8 b (new)
Paragraph 8 b (new)
8 b. Call on the EIB to play an active role in supporting projects that contribute to a just transition, such as research, innovation and digitalisation, SMEs’ access to finance, and social investment and skills; Reiterates its calls for the EIB to provide targeted financing for just transition initiatives as a matter of priority, while taking into account the additionality that EIB financing can provide in combination with other sources; stresses, moreover, that coordination with other financing instruments is crucial given that the EIB alone cannot finance all of the initiatives;
Amendment 13 #
Motion for a resolution
Paragraph 8 c (new)
Paragraph 8 c (new)
8 c. Notes that in the present difficult context ( an ongoing pandemic and the Russian aggression against Ukraine), the gap between economic situations and capacities of the Member States has deepened and underlines the importance to ensure that most affected regions and countries will adjust to the new circumstances so that no one is left behind;
Amendment 14 #
Motion for a resolution
Paragraph 11 a (new)
Paragraph 11 a (new)
11 a. Calls on the EIB to continue to prioritise investments in the health infrastructure, personnel training and in the quality of the health services, in order to reduce inequalities between countries;
Amendment 15 #
Motion for a resolution
Paragraph 12
Paragraph 12
12. HighlightWelcomes the EIB’s role in the success of the BioNTech COVID-19 vaccine through the signature in June 2020 of a EUR 100 million loan facility, making it the first financial investor to back BioNTech’s COVID-19 vaccine programme;
Amendment 16 #
Motion for a resolution
Paragraph 12 a (new)
Paragraph 12 a (new)
12 a. Underlines that the EIB, at the same time, offered support to global programmes to distribute COVID-19 vaccines, especially in the developing world;
Amendment 17 #
Motion for a resolution
Paragraph 13
Paragraph 13
13. Stresses that the EIB Group pledged EUR 6.5 billion to support countries outside the EU, including over €1 billion Ukraine in for infrastructure, environment, innovation and post- COVID-19 recovery and EUR 1.7 billion to support the social and economic recovery of the Western Balkans from the COVID-19 pandemic as part of a EUR 3.3 billion financial support package for the region announced by the Commission;
Amendment 19 #
Motion for a resolution
Paragraph 20
Paragraph 20
20. Reiterates its call for the strengthening of technical assistance for and the financial expertise of local and regional authorities, especially in regions with low investment capacity, and for projects of common interest to several Member States which are of such a size or nature that they cannot be entirely financed by the various means available in the individual Member States, before project approval, in order to improve accessibility to EIB funding; invites the EIB Group to intensify cooperation with national promotional banks and institutions;
Amendment 27 #
Motion for a resolution
Paragraph 25
Paragraph 25
25. Notes that the process of updating the EIB Group’s environmental and social policy started in 2020 and has led to the approval in February 2022 of the new Environmental and Social Sustainability Framework; welcomes the revised EIB environmental and social standards included in the Framework, especially those related to labour rights, biodiversity and environmental protection; regrets, however, the lack of a specific tool on human rights due diligence; regrets furthermore that the EIB or its intermediaries are not required to disclose details of actual environmental and social risks or impacts linked to operations carried out through partners; stresses that any new requirements should not create more bureaucracy for SMEs;
Amendment 31 #
Motion for a resolution
Paragraph 27 a (new)
Paragraph 27 a (new)
27 a. Encourages the EIB to support the development of transport infrastructure projects, including railways and motorways, that are sustainable and environmental friendly and can contribute to tackling territorial and social disparities between regions and countries in the EU;
Amendment 32 #
Motion for a resolution
Paragraph 27 b (new)
Paragraph 27 b (new)
27 b. Stresses the need to focus on long- term financing, namely by supporting projects that would not be financed otherwise, in particular for innovative start-ups and SMEs emphasises however that the EIB’s financing activities are no substitute for sustainable fiscal policies in the Member States; Calls on the EIB to increase investment in break through innovations, especially for the green transition, in order to support European companies;
Amendment 33 #
Motion for a resolution
Paragraph 27 c (new)
Paragraph 27 c (new)
27 c. Calls on the EIB to increase financing to address the technological transition, support development of skills adapted to the current and future labour market needs, further promote the investment in digital skills of employees and entrepreneurs, digital infrastructure and capacity-building for digitalization, provide funds for long term research and innovation, SMEs,support the social economy and enhance social and territorial cohesion, namely by filling current investment gaps in public housing and infrastructure;
Amendment 35 #
Motion for a resolution
Paragraph 28
Paragraph 28
28. Calls on the EIB to develop a specific human rights strategy and an action plan for its implementation; calls on the EIB to align its financing strategy with the levels of ambition and commitment to common values and objectives shown by the partner countries;
Amendment 44 #
Motion for a resolution
Paragraph 32 a (new)
Paragraph 32 a (new)
32 a. Encourages the EIB to become more involved in the agricultural sector; Underlines that financial needs of farmers, especially young and new entrants are significant, and that farmers and enterprises in this sector have a lower rate of success when applying for financing; Highlights that EIB has made certain steps to tackle this issue; Calls for the EIB to further work on new financial tools that will boost accessibility for the agricultural sector; Insists, in this context, that EIB financing needs to support the transition of the agricultural sector inline with European policy objectives including with more respect for animal welfare, and should avoid contributing to stocking densities exceeding the carrying capacity of the land;
Amendment 59 #
Motion for a resolution
Paragraph 48
Paragraph 48
48. Calls for more transparency and accountability, also towards EU institutions, in particular Parliament; suggests the idea of a quarterly dialogue with relevant committees of the Parliament to participate to the investment strategy of the EIB and ensure adequate oversight; stresses the importance of greater Parliament scrutiny over decision of the EIB board of directors and points to the possibility of Parliament having observer status in the board’s meetings to ensure better information sharing demands from the Commission to increase its transparency towards Parliament on the positions it takes in the EIB board of directors;
Amendment 62 #
Motion for a resolution
Paragraph 51
Paragraph 51
51. Regrets that the EIB still does not fully disclose the details of the beneficial ownership of its clients; reiterates its calls for enhanced transparency regarding the EIB’s operations through financial intermediaries such as commercial banks and investment funds and for the definition of standard reporting obligations that can provide an adequate level of data and information; asks the EIB to use the available tools and to implement the standards promoted by the 5th AML Directive to make such data accessible; invites the EIB to explore the feasibility of working arrangements and memoranda with the relevant partners to make relevant information available and to eliminate the risk of opacity in the relevant procedures; Asks the EIB to ensure a full cooperation with the future Authority for Anti- Money Laundering and Countering the Financing of Terrorism;
Amendment 71 #
Motion for a resolution
Paragraph 59 a (new)
Paragraph 59 a (new)
59 a. Reiterates its call to the EIB to establish a proper representation within its secretariat of nationals from all Member States, while at the same time respecting the competencies and merits of the candidates; calls on the EIB to publish annually a gender and nationality breakdown of middle and senior management position;