Activities of Helga TRÜPEL related to 2013/0152(COD)
Plenary speeches (1)
EU guarantee to EIB against losses under financing operations supporting investment projects outside the Union (debate)
Shadow reports (1)
REPORT on the proposal for a decision of the European Parliament and of the Council on granting an EU guarantee to the European Investment Bank against losses under financing operations supporting investment projects outside the Union PDF (875 KB) DOC (1008 KB)
Amendments (40)
Amendment 42 #
Proposal for a decision
Recital 1
Recital 1
(1) In addition to its core mission of financing investment in the Union, the European Investment Bank (EIB) undertakes financing operations outside the Union in support of the Union's external policies. This allows the budget funds of the Union available to the external regions to be complemented by the financial strength of the EIB for the benefit of the targeted third countries. In undertaking such financing operations, the EIB contributes to the general principles and policy objectives of the Union, in particular those defined in Article 21 TEU, most importantly democracy, the universality and indivisibility of human rights and the sustainable economic, social and environmental development.
Amendment 44 #
Proposal for a decision
Recital 6 a (new)
Recital 6 a (new)
(6a) Bhutan should be added to the Annex III following the recent developments which allowed the Union to open a new chapter in its relations with Bhutan and in order to support the on-going political and economic reforms in the country.
Amendment 45 #
Proposal for a decision
Recital 8
Recital 8
(8) In order to cater for the potential evolution of the actual provisioning needs of the Guarantee Fund in accordance with Council Regulation (EC, Euratom) No 480/2009 of 25 May 2009 establishing a Guarantee Fund for external actions5 , , the maximum ceiling of the EU guarantee should be broken down into a fixed ceiling of a maximum amount of EUR 257 bn and an optional additional amount of EUR 3 bn. __________________ 5 OJ L 145, 10.6.2009, p. 10.
Amendment 48 #
Proposal for a decision
Recital 11
Recital 11
(11) Improving access to financing for SMEs, including SMEs from the Union investing in the regions covered by this Decision, can play an essential role in stimulating economic development and in combating unemployment. In order to effectively reach out to SMEs, the EIB should cooperate with local financial intermediary institutions in the eligible countries, which should be embedded in the local economy and contribute to the employment of the local population, in particular to ensure that part of the financial benefits is passed on to their clients and provide added value compared to other sources of finance. Through its cooperation agreements with those intermediary institutions, the EIB should make sure that their client's projects can be checked against criteria which reflect the Union's development goals and the Bank's standards. The financial intermediaries' activities in support of SMEs should be fully transparent and checked regularly by the EIB.
Amendment 50 #
Proposal for a decision
Recital 13
Recital 13
(13) The EIB should continue to finance investment projects in the areas of social, environmental and economic infrastructure, especially in the sector of renewable energy, and should consider increasing its activity in support of health and education infrastructure when there is clear added value in doing so.
Amendment 52 #
Proposal for a decision
Recital 15 a (new)
Recital 15 a (new)
(15a) In supporting climate change mitigation projects in eligible third countries, the EIB should take into account the conclusions of the G-20 meeting in Pittsburgh to phase out environmentally or economically harmful subsidies, including for fossil fuels, and prevent from financing projects which could have a negative impact to foster this goal.
Amendment 53 #
Proposal for a decision
Recital 16
Recital 16
(16) The practical measures for linking the general objectives of the EU guarantee and their implementation are to be set out in regional technical operational guidelines. Such guidelines should be consistent with the external action goals of the Union according to Article 21 TEU and the wider Union regional policy framework. The regional technical operational guidelines should be reviewed following consultation with relevant stakeholder and, authorities at national and local level from beneficiary countries and further updated following the review of this Decision in order to adapt to the developments in the Union external policies and priorities.
Amendment 54 #
Proposal for a decision
Recital 17
Recital 17
(17) In accordance with Article 19 of the Statute of the EIB, applications made directly to the EIB for EIB financing operations to be carried out under this Decision are to be submitted to the Commission for an opinion on the conformity with relevant EU legislation and policies. In the event that the Commission delivers a negative opinion on an EIB financing operation in the framework of the Article 19 procedure, the operation shall not be covered by the EU guarantee or by any financial instrument covered by the EIB's own resources.
Amendment 55 #
Proposal for a decision
Recital 18
Recital 18
(18) While the EIB's strength remains its distinctiveness as an investment bank, EIB financing operations should contribute to the general principles guiding Union external action, as referred to in Article 21 of the Treaty on European Union (TEU), of promoting and consolidating democracy and the rule of law, human rights and fundamental freedoms, and to the implementation of international environmental agreements to which the Union is a party. In particular, in relation to developing countries, EIB financing operations should foster their sustainable economic, social and environmental development, particularly in the most disadvantaged amongst them, their smooth and gradual integration into the world economy, the campaign against poverty, as well as compliance with objectives approved by the Union in the context of the United Nations and other competent international organisations. While contributing to the implementation of the measures necessary to further the objectives of Union development cooperation policy in accordance with Article 209(3) of the Treaty, the EIB should strive to support indirectly the achievement of the UN's 2015 Millennium Development Goals in all regions where it is active.
Amendment 56 #
Proposal for a decision
Recital 19
Recital 19
(19) The EIB activity under this Decision should support the Agenda for Change proposed by the Commission and be coherent with the relevant principles of the European Consensus on Development and the principles of aid effectiveness outlined in the Paris Declaration of 2005, the Accra Agenda for Action of 2008 and the Busan Partnership Agreement of 2011. Furthermore, it should be coherent with the EU Strategic Framework and Action Plan on Human Rights and Democracy adopted by the Council on 25 June 2012 and international environmental agreements including biodiversity commitments. It should be implemented through a number of concrete measures, in particular by reinforcing the EIB's capacity to appraise environmental, social and development aspects of investment projects, including human rights and conflict-related risks, and by promoting local consultation with public authorities and civil society. In this context, the EIB should implement and further develop its Results Measurement framework (REM) which provides a detailed set of performance indicators measuring the economic, environmental, social, and development impact of its financing operations throughout the lifecycle of the underlying investment. The implementation of the REM should be evaluated as part of the mid-term review of this Decision. When carrying out due diligence in respect of an investment project, the EIB should, where appropriate and in line with the Union's social and environmental principles, as well as in full respect of legislation and environmental and social standards of the beneficiary country, require the investment project promoter to carry out local consultations and disclose their results to the public. EIB financing agreements involving public counterparts should explicitly include the possibility to suspend disbursements in case of revocation of eligibility under this Decision of the country in which the investment project takes place.
Amendment 67 #
Proposal for a decision
Article 2 – paragraph 1 – subparagraph 1
Article 2 – paragraph 1 – subparagraph 1
The maximum ceiling of the EIB financing operations under EU guarantee throughout the period 2014-2020 shall not exceed EUR 2830 000 000 000. Amounts cancelled shall not count against the ceiling.
Amendment 68 #
Proposal for a decision
Article 2 – paragraph 1 – subparagraph 2 – point a
Article 2 – paragraph 1 – subparagraph 2 – point a
(a) a fixed ceiling of a maximum amount of EUR 257 000 000 000;
Amendment 74 #
Proposal for a decision
Article 3 – paragraph 4
Article 3 – paragraph 4
4. In developing countries, as defined in the Organisation for Economic Cooperation and Development (OECD) list of official development assistance (ODA) recipients, EIB financing operations shall contribute indirectly to the objectives of the Union policy in development cooperation as referred to in Article 208 TFEU.
Amendment 77 #
Proposal for a decision
Article 3 – paragraph 6
Article 3 – paragraph 6
6. EIB financing operations supporting the objectives provided for in paragraph 1(b) shall support investment projects in the areas of transport, energy, including particular renewable energy, energy systems transformation enabling a switch to lower carbon intensive technologies and fuels, energy security and energy infrastructure, including for gas production and transportation to EU energy market, environmental infrastructure, including water and sanitation and green infrastructure, information and communication technology, including telecommunications and broadband network infrastructure, health and education.
Amendment 79 #
Proposal for a decision
Article 3 – paragraph 7
Article 3 – paragraph 7
7. EIB financing operations supporting the objectives provided for in paragraph 1(c) shall support investment projects in climate change mitigation and adaptation which contribute to the overall objective of the United Nations Framework Convention on Climate Change, in particular by avoiding or reducing greenhouse gas emissions in the areas of renewable energy, energy efficiency and sustainable transport, or by increasing resilience to the adverse impacts of climate change on vulnerable countries, sectors and communities. The eligibility criteria for climate action projects shall be further defined in the next revision of the Regional Operational Technical Guidelines, after thorough public consultations, and be reflected in the climate change strategy of the Bank during the midterm review of this decision. Over the period covered by the Decision, the volume of these operations shall represent at least 2533% of total EIB financing operations.
Amendment 81 #
Proposal for a decision
Article 3 – paragraph 8
Article 3 – paragraph 8
8. In line with Union and international climate change objectives, before the end of 20164, the EIB, in cooperation with the Commission and following a public consultation, shall update its climate change strategy as regards EIB financing operations. This update shall inter alia integrate concrete actions to phase out financing projects detrimental to the achievement of EU's climate objectives and step up efforts to support renewable energy sources and energy efficiency.
Amendment 82 #
Proposal for a decision
Article 4 – paragraph 2
Article 4 – paragraph 2
2. The Commission shall be empowered to adopt delegated acts in accordance with Article 17 concerning amendments to Annex III. The Commission's decisions shall be based on an overall economic social, environmental and political assessment, including particular aspects related to the democracy, human rights and fundamental freedoms as well as the relevant European Parliament resolutions and Council decisions and conclusions.
Amendment 83 #
Proposal for a decision
Article 4 – paragraph 5
Article 4 – paragraph 5
5. The EU guarantee shall cover only EIB financing operations carried out in eligible countries that have concluded a framework agreement with the EIB establishing the legal conditions under which such operations are to be carried out. Legal conditions under which operations are to be carried out shall also include environmental, social, human rights and labour standards.
Amendment 84 #
Proposal for a decision
Article 5 – paragraph 1 – subparagraph 1
Article 5 – paragraph 1 – subparagraph 1
The Commission shall update, together with the EIB, the existing regional technical operational guidelines for EIB financing operations within one year following the adoption of this Decision. Further updates shall be accomplished on a bi-annual basis.
Amendment 85 #
Proposal for a decision
Article 5 – paragraph 1 – subparagraph 3
Article 5 – paragraph 1 – subparagraph 3
In updating these guidelines, the Commission and the EIB shall take into account relevant European Parliament resolutions and Council decisions and conclusions. The EEAS shall also be consulted on policy issues, as appropriate. Consultations at regional level where appropriate, including with local civil society, shall also be part of the process.
Amendment 86 #
Proposal for a decision
Article 5 – paragraph 2
Article 5 – paragraph 2
2. An EIB financing operation shall not be covered by the EU guarantee or any financial instrument covered by the EIB's own resources in the event that the Commission delivers a negative opinion on such an operation within the framework of the procedure provided for in Article 19 of the Statute of the EIB.
Amendment 89 #
Proposal for a decision
Article 7 a (new)
Article 7 a (new)
Amendment 90 #
Proposal for a decision
Article 8 – paragraph 5
Article 8 – paragraph 5
5. The Commission and the EIB shall set out in the agreement referred to in Article 13 a method allowing the EIB to identify, within its external activity, the operations to be financed under this Decision and the operations to be financed at the own risk of the EIB. The method shall be based on the creditworthiness of EIB financing operations as assessed by the EIB, the regions and ceilings as defined in Annex I, the nature of the counterparty (whether a sovereign/State, a sub-sovereign as referred to in paragraph 1 or private), EIB risk absorption capacity and other relevant criteria, including added value of the EU Guarantee. The allocation policy shall be publicly available on the EIB website. For each operation to be financed by the EIB outside of the EU, the EIB website shall after the project approval stage indicate whether a EU guarantee will be used or not.
Amendment 91 #
Proposal for a decision
Article 9 – paragraph 1 – subparagraph 1
Article 9 – paragraph 1 – subparagraph 1
The EIB shall carry out thorough due diligence and, where appropriate and in line with Union social and environmental principles, require appropriate local public consultation, on development-related aspects of investment projects covered by the EU guarantee.
Amendment 93 #
Proposal for a decision
Article 9 – paragraph 1 – subparagraph 3
Article 9 – paragraph 1 – subparagraph 3
The EIB's own rules and procedures shall include the necessary provisions on assessment of environmental and social impact of investment projects and of aspects related to human rights and conflict prevention in line with relevant EU legislation as well as legislation and environmental and social standards of the beneficiary countries, to ensure that only investment projects that are economically, financially, environmentally and socially sustainable are supported under this Decision.
Amendment 97 #
Proposal for a decision
Article 9 – paragraph 3
Article 9 – paragraph 3
3. The EIB monitoring shall also cover the implementation of intermediated operations and the performance and development impact of financial intermediaries in support of SMEs.
Amendment 99 #
Proposal for a decision
Article 10 – paragraph 1 – point d a (new)
Article 10 – paragraph 1 – point d a (new)
(da) an assessment of the impact of EIB lending through financial intermediaries, demonstrating how intermediated lending contributes to the poverty eradication, and social and environmental objectives of EU external action. Information about final beneficiaries of EIB operations shall be disclosed;
Amendment 102 #
Proposal for a decision
Article 11 – paragraph 1 – introductory part
Article 11 – paragraph 1 – introductory part
1. In accordance with itsEU legislation own transparency policyaccess to documents and information, the EIB shall make publicly available on its website information relating to:
Amendment 103 #
Proposal for a decision
Article 11 – paragraph 1 – point b a (new)
Article 11 – paragraph 1 – point b a (new)
(ba) framework agreements concluded between the EIB and a recipient country.
Amendment 110 #
Proposal for a decision
Article 18 – paragraph 1
Article 18 – paragraph 1
By 31 December 2017the end of 2016, and no more than 2 month after submitting its post-electoral revision of the Multiannual Financial Framework, the Commission shall submit to the European Parliament and the Council a mid-term report evaluating the implementation of this Decision in the first years accompanied, where appropriate, by a proposal for its amendment. The report shall draw upon an external evaluation and contribution from the EIB.
Amendment 113 #
Proposal for a decision
Annex I – point A
Annex I – point A
A. Pre-accession countries: EUR 8 4009 072 000 000;
Amendment 114 #
Proposal for a decision
Annex I – point B – introductory part
Annex I – point B – introductory part
B. Neighbourhood and Partnership countries: EUR 12 4003 392 000 000, broken down into the following indicative sub- ceilings:
Amendment 116 #
Proposal for a decision
Annex I – point B – point i
Annex I – point B – point i
(i) Mediterranean countries: EUR 8 4009 072 000 000;
Amendment 119 #
Proposal for a decision
Annex I – point B – point ii
Annex I – point B – point ii
(ii) Eastern Europe, Southern Caucasus and Russia: EUR 4 00320 000 000;
Amendment 122 #
Proposal for a decision
Annex I – point C – introductory part
Annex I – point C – introductory part
C. Asia and Latin America: EUR 3 600888 000 000, broken down into the following indicative sub-ceilings:
Amendment 124 #
Proposal for a decision
Annex I – point C – point i
Annex I – point C – point i
(i) Latin America: EUR 2 150322 000 0000;
Amendment 126 #
Proposal for a decision
Annex I – point C – point ii
Annex I – point C – point ii
(ii) Asia: EUR 1 20096 000 000;
Amendment 127 #
Proposal for a decision
Annex I – point C – point iii
Annex I – point C – point iii
(iii) Central Asia: EUR 2570 000 000
Amendment 128 #
Proposal for a decision
Annex I – point D – introductory part
Annex I – point D – introductory part
D. South Africa: EUR 60048 000 000.
Amendment 130 #
Proposal for a decision
Annex III – point C – point 2 – paragraph 1
Annex III – point C – point 2 – paragraph 1
Bangladesh, Bhutan, Brunei, Cambodia, China (including Hong Kong and Macao Special Administrative Regions), India, Indonesia, Iraq, Laos, Malaysia, Maldives, Mongolia, Myanmar, Nepal, Pakistan, Philippines, Singapore, South Korea, Sri Lanka, Thailand, Vietnam, Yemen