Activities of Corina CREȚU related to 2020/2245(INI)
Shadow reports (1)
REPORT on control of the financial activities of the European Investment Bank - annual report 2019
Amendments (13)
Amendment 4 #
Motion for a resolution
Recital C
Recital C
C. whereas the EU has experienced severe under investment since the financial crisis while facing an urgent investment demand to cope with the required green and digital transformation of the economy; priorities reflected also in the Recovery and Resilience Facility, where 37% of funds should be allocated to green project while 20% will support the digital transition.
Amendment 9 #
Motion for a resolution
Recital F a (new)
Recital F a (new)
F a. Whereas from 2014 to 2019, the Bank provided more than EUR 100 billion of financing in cohesion regions;
Amendment 18 #
Motion for a resolution
Paragraph 7
Paragraph 7
7. Notes that in 2019 the EIB’s Complaint Mechanism has registered 84 new cases, handled 173 cases and closed 113 cases; invites the EIB to continue its effort to enable the civil society to report cases of concern that will be dealt with in an effective and independent manner; stresses the importance of monitoring how the Complaint Mechanism’s recommendation are implemented; calls on the EIB to address the findings of the Complaint Mechanism with concrete actions;
Amendment 22 #
Motion for a resolution
Paragraph 9
Paragraph 9
9. Welcomes EIB Group Update on COVID-19 in the EIB Financial Report 2019, shedding light on the emergency response package adopted in 2020 to support the Small and Medium Size Enterprise SME and mid-cap sectors in the Union, encompassing liquidity lines and guarantee schemes for banks and asset- backed securities purchase programs and considering the creation of a European Guarantee Fund (EGF) focused on financing support to SMEs; urges the EIB to require companies supported by the European Guarantee Fund or other funding programmes put in place to tackle the COVID-19 crisis to comply with binding social and environmental conditions, including the adoption of decarbonisation plans, as to increase their resilience, and to refrain to pay out dividends, bonuses and share buy backs for at least the next 2 years after benefiting from support; in this light, Welcomes EIB’s Board of Directors decision approving a multi-beneficiary program loan of up to EUR 5 billion covering all EU Member States and creating the pan European guarantee fund up to EUR 25 billion, mainly in the form of guarantees, to respond to the economic effects of the COVID-19 pandemic; notes with appreciation that, the EIB Group has extended its contribution outside of the EU, with a focus on investments in the health and private sectors;
Amendment 25 #
Motion for a resolution
Paragraph 9 a (new)
Paragraph 9 a (new)
9 a. Calls the EIB to help the EU Member States to implement Recovery and resilience facility plan to address the existing health inequalities throughout the Union, while guaranteeing equal protection with specific attention to the most vulnerable in the society.
Amendment 31 #
Motion for a resolution
Paragraph 10 a (new)
Paragraph 10 a (new)
10 a. Recalls the Gender Action Plan, endorsed with the intention to guide the implementation of the EIB Gender Strategy and to integrate the promotion of gender equality into the EIB business model; calls on the EIB to report on the progress achieved in the first phase of the Action Plan, on objectives such as revising the due diligence framework to address impacts and risks of EIB investments on the rights of women, ensuring equal access to benefits generated by EIB investment, or investing in women’s participation in the economy and the labour market;
Amendment 32 #
Motion for a resolution
Paragraph 10 b (new)
Paragraph 10 b (new)
Amendment 67 #
Motion for a resolution
Paragraph 21
Paragraph 21
21. Notes that the financing provided within the Union in 2019 for transport was higher than in 2018 (EUR 9 325 million against EUR 8 237 million in 2018) and that contraction of financing for road and motorways was offset by increases in financing of railways and air transport; stresses the importance of aligning the Transport Lending Policy and the EIB’s transport portfolio with the Climate Bank Roadmap, in particular the decarbonisation of the transport sector by 2050; regrets the EIB’s support in 2019 to airport expansions in several Member States; welcomes the EIB’s commitment to pull back from financing airport capacity expansion; calls for the upcoming revision of the Transport Lending Policy to explicitly exclude financing of projects locking-in carbon intensive, in particular the expansion of airports and infrastructure for Liquefied Natural Gas, to limit the financing of motorways; calls for the Policy to increase support for modal shifts towards zero- carbon mobility both for freight and passengers at urban and inter- urban level, such as rail, safe cycling and clean public transport, in particular for underserved communities and localities, and for renewables-based electrification infrastructure;
Amendment 69 #
Motion for a resolution
Paragraph 24 a (new)
Paragraph 24 a (new)
24 a. Welcomes the support of the EIB provided throughout 2019 in the formulation of the Just Transition Mechanism, which helps territories and regions most affected by the transition to a climate-neutral economy, especially those with the least capacity to deal with the cost of the transition; highlights the importance of the EIB for implementing the Mechanism in the next years, ensuring that no regions are left behind;
Amendment 82 #
Motion for a resolution
Paragraph 29
Paragraph 29
29. Reiterates the importance of ethics, integrity, transparency, communication and accountability of the EIB Group in all its operations and policies;
Amendment 90 #
Motion for a resolution
Paragraph 34
Paragraph 34
34. Regrets that EIB still does not fully disclose the details of the beneficial ownership of its clients; observStresses that in some cases the data of the involved economic operators are not communicated by the promoters or financial intermediaries; stresses that the disclosure of beneficiaries and their beneficial ownership is in line with the existing legal framework; asks the EIB to use the available tools and to implement the standards promoted by the 5th AML Directive to make accessible such data; invites to explore which measures could be taken in case of unjustified refusal by some jurisdiction to provide such information; reiterates the need that EIF Compliance and EIB OCCO work together to bring consistency to the design and implementation of the EIB Group policies in the sectors of Anti-Money Laundering and Combating Terrorism Financing;
Amendment 96 #
Motion for a resolution
Paragraph 36
Paragraph 36
36. Reiterates the importance of the involvement of local stakeholders when assessing impact of investments; including through transparent communication, as well as the importance of assessing the needs and expectations of the people impacted by the project; emphasises that consultations must be inclusive of all the interested communities, accessible to vulnerable groups, tailored on peculiarities of the stakeholders and continuous throughout the project lifecycle; calls for respecting the principle of compliance with the principle of free, prior, and informed consent from all the affected communities (besides the indigenous population) in case of land and natural resource-based investments, asks the EIB to report on the implementation of the above principles;
Amendment 111 #
Motion for a resolution
Paragraph 36 a (new)
Paragraph 36 a (new)