Activities of Cătălin Sorin IVAN related to 2016/2099(INI)

Motion for a resolution
Citation 10 b (new)

- having regard to the "EIB Policy towards weakly regulated, non- transparent and uncooperative jurisdictions" of 15 December 2010 and the addendum to the "NCJ Policy" of 8 April 2014,

2016/10/24
Committee: ECON

Motion for a resolution
Citation 10 c (new)

- having regard to the approval by the European Parliament of the ratification of the Paris Agreement by the European Union of 4 October 2016,

2016/10/24
Committee: ECON

Motion for a resolution
Recital A

A. whereas the EIB is considered to be the ‘'financial arm of the EU’' and the key institution for sustaining public and private investments within the EU, and thus to strengthen European integration, its role being still more essential since the start of the financial crisis in 2008;

2016/10/24
Committee: ECON

Motion for a resolution
Recital A a (new)

Aa. whereas the growing volume of EIB activities and its importance to support the EU policies;

2016/10/24
Committee: ECON

Motion for a resolution
Recital A b (new)

Ab. whereas a comprehensive and proper parliamentary accountability of EIB should be developed;

2016/10/24
Committee: ECON

Motion for a resolution
Recital C a (new)

Ca. whereas the EIB generates a surplus despite not being a profit- maximizing institution;

2016/10/24
Committee: ECON

Motion for a resolution
Recital C a (new)

Ca. whereas the EIB should boost its macroeconomic analysis capacity;

2016/10/24
Committee: ECON

Motion for a resolution
Recital C b (new)

Cb. whereas the EIB should move towards the development bank model by establishing, among other plans, programme strategies agreed with the Member States and within the framework of the national reform programmes and country-specific recommendations;

2016/10/24
Committee: ECON

Motion for a resolution
Recital C c (new)

Cc. whereas the EIB should step up the assessment of projects financed with measurable impact indicators;

2016/10/24
Committee: ECON

Motion for a resolution
Recital D a (new)

Da. whereas the EIB investments should increase in real terms every year, at least while the investment gap caused by the financial and economic crisis is filled;

2016/10/24
Committee: ECON

Motion for a resolution
Recital H a (new)

Ha. whereas the EIB should have a new responsible taxation policy;

2016/10/24
Committee: ECON

Motion for a resolution
Recital H b (new)

Hb. whereas the EIB bonds are the only example of Union debt issuances;

2016/10/24
Committee: ECON

Motion for a resolution
Paragraph 1 a (new)

1a. Reminds that the EIB should play a fundamental role in the implementation of the Europe 2020 Strategy through the Horizon 2020 instrument;

2016/10/24
Committee: ECON

Motion for a resolution
Paragraph 2

2. Underlines the fact that the strengthening of EU competitiveness depends among other things on an increase in public and private investment, especially in innovation and digitalisation; ; Calls for an increase in EIB investment activity in research, innovation, innovative start-ups, energy efficiency and sustainability;

2016/10/24
Committee: ECON

Motion for a resolution
Paragraph 2 a (new)

2a. Recalls the EIB to give priority to the long-term effect of investments, regarding not only financial indicators but also, above all, their contribution to sustainable development and to a better quality of life by means of further improvements in the field of employment, social standards and the environment;

2016/10/24
Committee: ECON

Motion for a resolution
Paragraph 8

8. Calls on the EIB to increase its support to EU countries under adjustment programmes in order to contribute to jump- starting their economies; Stresses the importance of regional development, and calls on enhanced dialogue and cooperation with regional and local authorities;

2016/10/24
Committee: ECON

Motion for a resolution
Paragraph 9 a (new)

9a. Suggests that the EIB facilitates the direct purchase of EIB bonds by EU citizens and residents, through the opening of an online sale system in its website, and through its commercialization by Member States NCBs, postal services and other suitable providers;

2016/10/24
Committee: ECON

Motion for a resolution
Paragraph 9 a (new)

9a. Calls for financial support to be given to indigenous energy sources in order to overcome Europe's high level of external energy dependency and ensure security of supply;

2016/10/24
Committee: ECON

Motion for a resolution
Paragraph 9 a (new)

9a. Points out that it is important to fund projects that intensively use labour to maximise the impact in terms of job creation;

2016/10/24
Committee: ECON

Motion for a resolution
Paragraph 10 a (new)

10a. Urges the EIB to make the fight against tax evasion and/or avoidance one of its priorities; calls in this regard the EIB to end cooperation with intermediaries, countries and jurisdictions that do not comply with OECD and EU tax standards;

2016/10/24
Committee: ECON

Motion for a resolution
Paragraph 10 a (new)

10a. Urges the EIB to collect precise data on the tax payments resulting from its investment and lending operations, especially on taxation of corporate profits;

2016/10/24
Committee: ECON

Motion for a resolution
Paragraph 10 a (new)

10a. Considers that the EIB should be not only a financial institution but also a knowledge and good practices bank;

2016/10/24
Committee: ECON

Motion for a resolution
Paragraph 10 b (new)

10b. Calls on the EIB to review and enhance its non-transparent and uncooperative jurisdictions policy (NCJ) as soon as possible; believes that it should anticipate the release of the EU list of non-cooperative tax jurisdictions which is expected by the end of 2017;

2016/10/24
Committee: ECON

Motion for a resolution
Paragraph 10 b (new)

10b. Stresses that the EIB should establish a new responsible taxation policy, starting with its policy on non- cooperative jurisdictions (NCJ policy) in cooperation with the European Commission;

2016/10/24
Committee: ECON

Motion for a resolution
Paragraph 10 b (new)

10b. Encourages the EIB to expand its analytical work, research programme and range of empirical studies and publications;

2016/10/24
Committee: ECON

Motion for a resolution
Paragraph 10 c (new)

10c. Calls the EIB to provide more elements on the outcomes of projects completed; calls in this context on the EIB, in conjunction with project partners, to produce a set of results from each project completed which assesses the effectiveness of EIB funding;

2016/10/24
Committee: ECON

Motion for a resolution
Paragraph 10 d (new)

10d. Recalls the EIB to develop more stringent rules on conflicts of interest and clear, strict and transparent criteria for public-private partnerships receiving funding;

2016/10/24
Committee: ECON

Motion for a resolution
Paragraph 15

15. Particularly welcomes the fact that total investment in EFSI approvals amounts to EUR 115.7 billion, which is equivalent to 37 % of the original target value (EUR 315 billion); Invites the EIB to do more to ensure additionality in the selection of projects under EFSI and make all efforts to improve geographical coverage of projects and their contribution to sustainable and smart growth;

2016/10/24
Committee: ECON

Motion for a resolution
Paragraph 18

18. ~~Calls for~~Underlines the importance of the establishment of investment platforms in order ~~for the Member States to profit rapidly from the EFSI objectives~~achieve the EFSI objectives; Regrets that they are insufficiently developed;

2016/10/24
Committee: ECON

Motion for a resolution
Paragraph 18 a (new)

18a. Welcomes the developing by EIB its network of local offices (local Hubs), encourages the development of more tailor-made technical assistance at local level, especially in countries in need of investment;

2016/10/24
Committee: ECON

Motion for a resolution
Paragraph 18 a (new)

18a. Calls on the EIB to achieve a better geographical distribution of the selected projects; underlines the role its local offices can play in this regard;

2016/10/24
Committee: ECON

Motion for a resolution
Paragraph 18 b (new)

18b. Calls for an independent evaluation of the additionality of the projects financed under the EFSI as defined in article 5 of the EFSI regulation; regrets that the EIB management committee, in its "Evaluation of the functioning of the European Fund for Strategic Investments (EFSI)" of September 2016, agrees to this problematic without taking further actions;

2016/10/24
Committee: ECON

Motion for a resolution
Paragraph 21

21. Emphasises that the EIB should continue its programme ‘'Skills and Jobs – Investing for Youth’' and carry on investing in ~~human capital in order to equip young people with the necessary set of skills to provide them with access to finance linked to the employment of young people in SMEs and midcaps~~education, skills development and jobs for young people;

2016/10/24
Committee: ECON

Motion for a resolution
Paragraph 24 a (new)

24a. Recalls the commitment made by the European Union in March 2015 to reduce its emissions by at least 40% by 2030 following the Paris Agreement (COP21); regrets that 15% of the projects financed by EFSI relate to fossil energy;

2016/10/24
Committee: ECON

Motion for a resolution
Paragraph 24 a (new)

24a. Recalls the need to implement the EIB climate strategy adopted in 2015 and ask for concrete reporting on the implementation of the action contained within this strategy;

2016/10/24
Committee: ECON

Motion for a resolution
Paragraph 24 b (new)

24b. Encourages the EIB to increase financing to the bio-economy sector, including bio-based industries, biotechnology and the efficient management of natural resources, particularly in crisis-affected Member States and Regions, in partnership with Bio-Based Industries Joint Undertaking (BBI JU), the €3.7 billion Public-Private Partnership on Bio-based Industries between the European Commission and the Bio-based Industries Consortium (BIC);

2016/10/24
Committee: ECON

Motion for a resolution
Paragraph 24 b (new)

24b. Encourages the EIB to continue its support to initiatives and projects helping the EU to stay a front-runner and to fulfil its own long-standing carbon market ambitions, in line with the Paris agreement;

2016/10/24
Committee: ECON

Motion for a resolution
Paragraph 27 a (new)

27a. Calls on the EIB to take into account the local context when investing in third countries; recalls that investing in third countries cannot be based only on a profit maximisation approach but also aim at generating long-term private sector-led sustainable economic growth and reduce poverty through job creation and improved access to productive resources; believes that the choice of financial intermediaries should be stricter in this regard;

2016/10/24
Committee: ECON

Motion for a resolution
Paragraph 27 a (new)

27a. Points out that loans in third countries are key to contributing to the stability and development of countries in North Africa and the Middle East;

2016/10/24
Committee: ECON

Motion for a resolution
Paragraph 27 b (new)

27b. Is concerned by the lack of information that the EIB discloses on the beneficial ownership and the final money recipients, especially when the financing relies on private equity funds; underlines the issues it raises in terms of transparency and accountability for a publicly-backed institution; urges therefore the EIB to reinforce its due diligence procedure when working with financial intermediaries;

2016/10/24
Committee: ECON