BETA


2004/2213(INI) The impact of the lending activities of the European Community in developing countries

Progress: Procedure completed

RoleCommitteeRapporteurShadows
Lead DEVE
Committee Opinion BUDG
Lead committee dossier:
Legal Basis:
RoP 54

Events

2005/07/14
   EC - Commission response to text adopted in plenary
Documents
2005/07/07
   EP - Text adopted by Parliament, single reading
Details

The European Parliament adopted the own-initiative report by Gabriele ZIMMER (GUE/NGL, DE) on the impact of the lending activities of the European Community in developing countries. (Please refer to the summary dated 07/07/2005).

Furthermore, the Parliament calls on the EIB :

- to adopt the key indicators defined by the Commission with regard to the MDGs and to integrate them into its Development Impact Assessment Framework;

- to set up an independent evaluation unit, responsible only to the Board of Directors, thereby meeting the standards set by multilateral development banks;

- to make greater use of the interest subsidy instrument provided for in the Cotonou Agreement in order to enable indebted developing countries to benefit from investment in the area of public services of general economic interest;

- to update its sectoral objectives in terms of its credit policy towards developing countries, particularly in the areas of energy, forestry, transport, water and waste management, and to take into account in its analyses of the reasons why private investors have withdrawn from these areas;

- to make sure that its lending in the ALA and ACP regions is accompanied by measures to improve the environmental sustainability of loans, inter alia through: the financing of projects in all of the four EIB “environment” categories including, in particular, projects for the protection of the natural environment; an assessment of all hydropower projects early in the project cycle against the guidelines of the WCD; in line with the MDGs, an increase in lending in the water sector from the current 3 % for ACP and 8 % for ALA countries to at least 20 % of its regional lending portfolio, particularly through lending to local companies for sustainable micro-projects; an increase in lending for renewable energy projects in the ACP and ALA regions reflecting the global commitment of the EIB to reach 15 % of lending to renewables of the total energy portfolio by 2006 and 50 % by 2010;

- to step up significantly its commitment to "micro lending" and, at the same time, to provide particular support for aid aimed at helping women set up in business;

- to take effective measures against corruption and money laundering and, as part of a comprehensive anti-corruption policy, to commit itself to supporting contracts resulting from an open and transparent negotiating process that oblige the EIB's clients in developing countries to demonstrate that they have internal revision systems capable of identifying bribery and corruption; further asks the EIB to investigate and to pass on to the relevant authorities all accusations of corruption and to impose appropriate sanctions on those found guilty.

In addition, Parliament recommends that the Commission and the EIB propose to the Council and Parliament a new integrated approach and organisation for the programming and delivery of EU external assistance, within the framework of the preparation of the future financial perspectives of the EU and of the next generation of EIB external mandates. This proposal should allow an optimal exploitation of potential synergies between the human and financial resources of the Commission, the EIB and bilateral development agencies, and aim at reinforcing the overall effectiveness, coherence, transparency and visibility of EU external assistance, notably for the achievement of the MDGs.

The Member States, as the Bank's shareholders, are called upon to provide the EIB with a development policy mandate appropriate to attaining the MDGs for the ALA region and to distance themselves from the priority hitherto awarded to external economic aid. Whereas the Council is called upon to increase the level of funding for EIB activities in the ALA region and expects the EIB to give priority to economically weaker countries in its commitments to that region.

The Commission is called upon to support increased EIB lending for environmental projects in the ALA and ACP regions through the granting of interest subsidies of 3 %, as is successfully practised in the MEDA Framework, and through the granting of interest subsidies of 5 % for new renewable sources of energy projects.

Lastly, Parliament calls on the Commission to produce a study before the end of 2005 on the financial, political and legal opportunities for strengthening the development mandate and lending operations of the EIB through the setting up of a separate loan facility, as a specific entity within the EIB Group, with due attention being paid to the need to maintain the AAA credit rating of the EIB Group.

2005/07/07
   EP - Results of vote in Parliament
2005/07/07
   EP - Decision by Parliament
Details

The European Parliament adopted the own-initiative report by Gabriele ZIMMER (GUE/NGL, DE) on the impact of the lending activities of the European Community in developing countries. (Please refer to the summary dated 07/07/2005).

Furthermore, the Parliament calls on the EIB :

- to adopt the key indicators defined by the Commission with regard to the MDGs and to integrate them into its Development Impact Assessment Framework;

- to set up an independent evaluation unit, responsible only to the Board of Directors, thereby meeting the standards set by multilateral development banks;

- to make greater use of the interest subsidy instrument provided for in the Cotonou Agreement in order to enable indebted developing countries to benefit from investment in the area of public services of general economic interest;

- to update its sectoral objectives in terms of its credit policy towards developing countries, particularly in the areas of energy, forestry, transport, water and waste management, and to take into account in its analyses of the reasons why private investors have withdrawn from these areas;

- to make sure that its lending in the ALA and ACP regions is accompanied by measures to improve the environmental sustainability of loans, inter alia through: the financing of projects in all of the four EIB “environment” categories including, in particular, projects for the protection of the natural environment; an assessment of all hydropower projects early in the project cycle against the guidelines of the WCD; in line with the MDGs, an increase in lending in the water sector from the current 3 % for ACP and 8 % for ALA countries to at least 20 % of its regional lending portfolio, particularly through lending to local companies for sustainable micro-projects; an increase in lending for renewable energy projects in the ACP and ALA regions reflecting the global commitment of the EIB to reach 15 % of lending to renewables of the total energy portfolio by 2006 and 50 % by 2010;

- to step up significantly its commitment to "micro lending" and, at the same time, to provide particular support for aid aimed at helping women set up in business;

- to take effective measures against corruption and money laundering and, as part of a comprehensive anti-corruption policy, to commit itself to supporting contracts resulting from an open and transparent negotiating process that oblige the EIB's clients in developing countries to demonstrate that they have internal revision systems capable of identifying bribery and corruption; further asks the EIB to investigate and to pass on to the relevant authorities all accusations of corruption and to impose appropriate sanctions on those found guilty.

In addition, Parliament recommends that the Commission and the EIB propose to the Council and Parliament a new integrated approach and organisation for the programming and delivery of EU external assistance, within the framework of the preparation of the future financial perspectives of the EU and of the next generation of EIB external mandates. This proposal should allow an optimal exploitation of potential synergies between the human and financial resources of the Commission, the EIB and bilateral development agencies, and aim at reinforcing the overall effectiveness, coherence, transparency and visibility of EU external assistance, notably for the achievement of the MDGs.

The Member States, as the Bank's shareholders, are called upon to provide the EIB with a development policy mandate appropriate to attaining the MDGs for the ALA region and to distance themselves from the priority hitherto awarded to external economic aid. Whereas the Council is called upon to increase the level of funding for EIB activities in the ALA region and expects the EIB to give priority to economically weaker countries in its commitments to that region.

The Commission is called upon to support increased EIB lending for environmental projects in the ALA and ACP regions through the granting of interest subsidies of 3 %, as is successfully practised in the MEDA Framework, and through the granting of interest subsidies of 5 % for new renewable sources of energy projects.

Lastly, Parliament calls on the Commission to produce a study before the end of 2005 on the financial, political and legal opportunities for strengthening the development mandate and lending operations of the EIB through the setting up of a separate loan facility, as a specific entity within the EIB Group, with due attention being paid to the need to maintain the AAA credit rating of the EIB Group.

Documents
2005/07/07
   EP - End of procedure in Parliament
2005/07/06
   EP - Debate in Parliament
2005/06/09
   EP - Committee report tabled for plenary, single reading
Documents
2005/06/09
   EP - Committee report tabled for plenary
Documents
2005/06/06
   EP - Vote in committee
Details

The committee adopted the own-initiative report by Gabriele ZIMMER (GUE/NGL, DE) on the impact of the lending activities of the European Community in developing countries. MEPs called for improved cooperation between the development activities of the European Investment Bank (EIB) and those of the Commission and Member states, with a view to harmonising and increasing the efficiency of development policy measures. Although the EIB had made progress in following EU development policies, the committee still believed that the EIB instruments lacked flexibility and that there were problems with project evaluation.

In general the committee found that there was a lack of dialogue between the European institutions and the EIB and called for greater cooperation not only with the Commission and the Parliament but also with other development agencies. The EIB should also coordinate its "objectives, criteria and methodology with the European Development Finance Institutions" and cooperate within the Interact Network in order to ensure that EIB funding complements the measures taken by the Commission and the Member States .

MEPs also welcomed the fact that the EIB supported the EU's development policy objectives set out in the Cotonou Agreement and that it made lending conditional on the relevance of Investment Facility projects to the attainment of the Millennium Development Goals (MDGs). However, they called for these criteria to be extended to cover all projects supported by the EIB in developing countries. The report further recommended that the Commission and the EIB should cooperate in proposing a new integrated approach for the programming and delivery of EU external assistance.

As far as assessment and evaluation are concerned, MEPs wanted the EIB to adopt the key indicators defined by the Commission with regard to the MDGs and to integrate them into its Development Impact Assessment Framework. They also urged the Bank to "align its 'Development Impact Assessment Framework of Investment Facility Projects' with international standards of development assessment.

The committee called for more instruments to stimulate SME investments and encourage entrepreneurship, especially among women. The report also stressed the need to "improve the environmental sustainability of loans", for example by financing projects for the protection of the natural environment, assessing all hydro-power projects using the guidelines of the World Commission on Dams and promoting renewable energy projects.

Lastly, MEPs urged the EIB to take effective measures against corruption and money laundering and "to commit itself to supporting contracts resulting from an open and transparent negotiating process that oblige the EIB's clients in developing countries to demonstrate that they have internal revision systems capable of identifying bribery and corruption".

2005/05/10
   EP - Amendments tabled in committee
Documents
2005/03/02
   EP - Committee draft report
Documents
2004/11/18
   EP - Committee referral announced in Parliament

Documents

History

(these mark the time of scraping, not the official date of the change)

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activities
  • date: 2004-11-18T00:00:00 body: EP type: Committee referral announced in Parliament, 1st reading/single reading committees: body: EP responsible: False committee_full: Budgets committee: BUDG body: EP responsible: True committee: DEVE date: 2004-10-06T00:00:00 committee_full: Development rapporteur: group: GUE/NGL name: ZIMMER Gabriele
  • date: 2005-06-06T00:00:00 body: EP committees: body: EP responsible: False committee_full: Budgets committee: BUDG body: EP responsible: True committee: DEVE date: 2004-10-06T00:00:00 committee_full: Development rapporteur: group: GUE/NGL name: ZIMMER Gabriele type: Vote in committee, 1st reading/single reading
  • date: 2005-06-09T00:00:00 docs: url: http://www.europarl.europa.eu/sides/getDoc.do?type=REPORT&mode=XML&reference=A6-2005-183&language=EN type: Committee report tabled for plenary, single reading title: A6-0183/2005 body: EP type: Committee report tabled for plenary, single reading
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  • date: 2005-07-07T00:00:00 docs: url: http://www.europarl.europa.eu/oeil/popups/sda.do?id=4112&l=en type: Results of vote in Parliament title: Results of vote in Parliament url: http://www.europarl.europa.eu/sides/getDoc.do?type=TA&language=EN&reference=P6-TA-2005-299 type: Decision by Parliament, 1st reading/single reading title: T6-0299/2005 body: EP type: Results of vote in Parliament
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docs
  • date: 2005-03-02T00:00:00 docs: title: PE353.350 type: Committee draft report body: EP
  • date: 2005-05-10T00:00:00 docs: title: PE355.696 type: Amendments tabled in committee body: EP
  • date: 2005-06-09T00:00:00 docs: url: http://www.europarl.europa.eu/sides/getDoc.do?type=REPORT&mode=XML&reference=A6-2005-183&language=EN title: A6-0183/2005 type: Committee report tabled for plenary, single reading body: EP
  • date: 2005-07-07T00:00:00 docs: url: http://www.europarl.europa.eu/sides/getDoc.do?type=TA&language=EN&reference=P6-TA-2005-299 title: T6-0299/2005 url: https://eur-lex.europa.eu/JOHtml.do?uri=OJ:C:2006:157E:SOM:EN:HTML title: OJ C 157 06.07.2006, p. 0408-0477 E summary: The European Parliament adopted the own-initiative report by Gabriele ZIMMER (GUE/NGL, DE) on the impact of the lending activities of the European Community in developing countries. (Please refer to the summary dated 07/07/2005). Furthermore, the Parliament calls on the EIB : - to adopt the key indicators defined by the Commission with regard to the MDGs and to integrate them into its Development Impact Assessment Framework; - to set up an independent evaluation unit, responsible only to the Board of Directors, thereby meeting the standards set by multilateral development banks; - to make greater use of the interest subsidy instrument provided for in the Cotonou Agreement in order to enable indebted developing countries to benefit from investment in the area of public services of general economic interest; - to update its sectoral objectives in terms of its credit policy towards developing countries, particularly in the areas of energy, forestry, transport, water and waste management, and to take into account in its analyses of the reasons why private investors have withdrawn from these areas; - to make sure that its lending in the ALA and ACP regions is accompanied by measures to improve the environmental sustainability of loans, inter alia through: the financing of projects in all of the four EIB “environment” categories including, in particular, projects for the protection of the natural environment; an assessment of all hydropower projects early in the project cycle against the guidelines of the WCD; in line with the MDGs, an increase in lending in the water sector from the current 3 % for ACP and 8 % for ALA countries to at least 20 % of its regional lending portfolio, particularly through lending to local companies for sustainable micro-projects; an increase in lending for renewable energy projects in the ACP and ALA regions reflecting the global commitment of the EIB to reach 15 % of lending to renewables of the total energy portfolio by 2006 and 50 % by 2010; - to step up significantly its commitment to "micro lending" and, at the same time, to provide particular support for aid aimed at helping women set up in business; - to take effective measures against corruption and money laundering and, as part of a comprehensive anti-corruption policy, to commit itself to supporting contracts resulting from an open and transparent negotiating process that oblige the EIB's clients in developing countries to demonstrate that they have internal revision systems capable of identifying bribery and corruption; further asks the EIB to investigate and to pass on to the relevant authorities all accusations of corruption and to impose appropriate sanctions on those found guilty. In addition, Parliament recommends that the Commission and the EIB propose to the Council and Parliament a new integrated approach and organisation for the programming and delivery of EU external assistance, within the framework of the preparation of the future financial perspectives of the EU and of the next generation of EIB external mandates. This proposal should allow an optimal exploitation of potential synergies between the human and financial resources of the Commission, the EIB and bilateral development agencies, and aim at reinforcing the overall effectiveness, coherence, transparency and visibility of EU external assistance, notably for the achievement of the MDGs. The Member States, as the Bank's shareholders, are called upon to provide the EIB with a development policy mandate appropriate to attaining the MDGs for the ALA region and to distance themselves from the priority hitherto awarded to external economic aid. Whereas the Council is called upon to increase the level of funding for EIB activities in the ALA region and expects the EIB to give priority to economically weaker countries in its commitments to that region. The Commission is called upon to support increased EIB lending for environmental projects in the ALA and ACP regions through the granting of interest subsidies of 3 %, as is successfully practised in the MEDA Framework, and through the granting of interest subsidies of 5 % for new renewable sources of energy projects. Lastly, Parliament calls on the Commission to produce a study before the end of 2005 on the financial, political and legal opportunities for strengthening the development mandate and lending operations of the EIB through the setting up of a separate loan facility, as a specific entity within the EIB Group, with due attention being paid to the need to maintain the AAA credit rating of the EIB Group. type: Text adopted by Parliament, single reading body: EP
  • date: 2005-07-14T00:00:00 docs: url: /oeil/spdoc.do?i=4112&j=0&l=en title: SP(2005)2923 type: Commission response to text adopted in plenary
events
  • date: 2004-11-18T00:00:00 type: Committee referral announced in Parliament, 1st reading/single reading body: EP
  • date: 2005-06-06T00:00:00 type: Vote in committee, 1st reading/single reading body: EP summary: The committee adopted the own-initiative report by Gabriele ZIMMER (GUE/NGL, DE) on the impact of the lending activities of the European Community in developing countries. MEPs called for improved cooperation between the development activities of the European Investment Bank (EIB) and those of the Commission and Member states, with a view to harmonising and increasing the efficiency of development policy measures. Although the EIB had made progress in following EU development policies, the committee still believed that the EIB instruments lacked flexibility and that there were problems with project evaluation. In general the committee found that there was a lack of dialogue between the European institutions and the EIB and called for greater cooperation not only with the Commission and the Parliament but also with other development agencies. The EIB should also coordinate its "objectives, criteria and methodology with the European Development Finance Institutions" and cooperate within the Interact Network in order to ensure that EIB funding complements the measures taken by the Commission and the Member States . MEPs also welcomed the fact that the EIB supported the EU's development policy objectives set out in the Cotonou Agreement and that it made lending conditional on the relevance of Investment Facility projects to the attainment of the Millennium Development Goals (MDGs). However, they called for these criteria to be extended to cover all projects supported by the EIB in developing countries. The report further recommended that the Commission and the EIB should cooperate in proposing a new integrated approach for the programming and delivery of EU external assistance. As far as assessment and evaluation are concerned, MEPs wanted the EIB to adopt the key indicators defined by the Commission with regard to the MDGs and to integrate them into its Development Impact Assessment Framework. They also urged the Bank to "align its 'Development Impact Assessment Framework of Investment Facility Projects' with international standards of development assessment. The committee called for more instruments to stimulate SME investments and encourage entrepreneurship, especially among women. The report also stressed the need to "improve the environmental sustainability of loans", for example by financing projects for the protection of the natural environment, assessing all hydro-power projects using the guidelines of the World Commission on Dams and promoting renewable energy projects. Lastly, MEPs urged the EIB to take effective measures against corruption and money laundering and "to commit itself to supporting contracts resulting from an open and transparent negotiating process that oblige the EIB's clients in developing countries to demonstrate that they have internal revision systems capable of identifying bribery and corruption".
  • date: 2005-06-09T00:00:00 type: Committee report tabled for plenary, single reading body: EP docs: url: http://www.europarl.europa.eu/sides/getDoc.do?type=REPORT&mode=XML&reference=A6-2005-183&language=EN title: A6-0183/2005
  • date: 2005-07-06T00:00:00 type: Debate in Parliament body: EP docs: url: http://www.europarl.europa.eu/sides/getDoc.do?secondRef=TOC&language=EN&reference=20050706&type=CRE title: Debate in Parliament
  • date: 2005-07-07T00:00:00 type: Results of vote in Parliament body: EP docs: url: https://oeil.secure.europarl.europa.eu/oeil/popups/sda.do?id=4112&l=en title: Results of vote in Parliament
  • date: 2005-07-07T00:00:00 type: Decision by Parliament, 1st reading/single reading body: EP docs: url: http://www.europarl.europa.eu/sides/getDoc.do?type=TA&language=EN&reference=P6-TA-2005-299 title: T6-0299/2005 summary: The European Parliament adopted the own-initiative report by Gabriele ZIMMER (GUE/NGL, DE) on the impact of the lending activities of the European Community in developing countries. (Please refer to the summary dated 07/07/2005). Furthermore, the Parliament calls on the EIB : - to adopt the key indicators defined by the Commission with regard to the MDGs and to integrate them into its Development Impact Assessment Framework; - to set up an independent evaluation unit, responsible only to the Board of Directors, thereby meeting the standards set by multilateral development banks; - to make greater use of the interest subsidy instrument provided for in the Cotonou Agreement in order to enable indebted developing countries to benefit from investment in the area of public services of general economic interest; - to update its sectoral objectives in terms of its credit policy towards developing countries, particularly in the areas of energy, forestry, transport, water and waste management, and to take into account in its analyses of the reasons why private investors have withdrawn from these areas; - to make sure that its lending in the ALA and ACP regions is accompanied by measures to improve the environmental sustainability of loans, inter alia through: the financing of projects in all of the four EIB “environment” categories including, in particular, projects for the protection of the natural environment; an assessment of all hydropower projects early in the project cycle against the guidelines of the WCD; in line with the MDGs, an increase in lending in the water sector from the current 3 % for ACP and 8 % for ALA countries to at least 20 % of its regional lending portfolio, particularly through lending to local companies for sustainable micro-projects; an increase in lending for renewable energy projects in the ACP and ALA regions reflecting the global commitment of the EIB to reach 15 % of lending to renewables of the total energy portfolio by 2006 and 50 % by 2010; - to step up significantly its commitment to "micro lending" and, at the same time, to provide particular support for aid aimed at helping women set up in business; - to take effective measures against corruption and money laundering and, as part of a comprehensive anti-corruption policy, to commit itself to supporting contracts resulting from an open and transparent negotiating process that oblige the EIB's clients in developing countries to demonstrate that they have internal revision systems capable of identifying bribery and corruption; further asks the EIB to investigate and to pass on to the relevant authorities all accusations of corruption and to impose appropriate sanctions on those found guilty. In addition, Parliament recommends that the Commission and the EIB propose to the Council and Parliament a new integrated approach and organisation for the programming and delivery of EU external assistance, within the framework of the preparation of the future financial perspectives of the EU and of the next generation of EIB external mandates. This proposal should allow an optimal exploitation of potential synergies between the human and financial resources of the Commission, the EIB and bilateral development agencies, and aim at reinforcing the overall effectiveness, coherence, transparency and visibility of EU external assistance, notably for the achievement of the MDGs. The Member States, as the Bank's shareholders, are called upon to provide the EIB with a development policy mandate appropriate to attaining the MDGs for the ALA region and to distance themselves from the priority hitherto awarded to external economic aid. Whereas the Council is called upon to increase the level of funding for EIB activities in the ALA region and expects the EIB to give priority to economically weaker countries in its commitments to that region. The Commission is called upon to support increased EIB lending for environmental projects in the ALA and ACP regions through the granting of interest subsidies of 3 %, as is successfully practised in the MEDA Framework, and through the granting of interest subsidies of 5 % for new renewable sources of energy projects. Lastly, Parliament calls on the Commission to produce a study before the end of 2005 on the financial, political and legal opportunities for strengthening the development mandate and lending operations of the EIB through the setting up of a separate loan facility, as a specific entity within the EIB Group, with due attention being paid to the need to maintain the AAA credit rating of the EIB Group.
  • date: 2005-07-07T00:00:00 type: End of procedure in Parliament body: EP
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    • 6.30 Development cooperation
    • 6.30.04 Loans to third-countries, Guarantee Fund
    New
    6.30
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    Loans to third-countries, Guarantee Fund
    activities
    • date: 2004-11-18T00:00:00 body: EP type: Committee referral announced in Parliament, 1st reading/single reading committees: body: EP responsible: False committee_full: Budgets committee: BUDG body: EP responsible: True committee: DEVE date: 2004-10-06T00:00:00 committee_full: Development rapporteur: group: GUE/NGL name: ZIMMER Gabriele
    • date: 2005-06-06T00:00:00 body: EP committees: body: EP responsible: False committee_full: Budgets committee: BUDG body: EP responsible: True committee: DEVE date: 2004-10-06T00:00:00 committee_full: Development rapporteur: group: GUE/NGL name: ZIMMER Gabriele type: Vote in committee, 1st reading/single reading
    • date: 2005-06-09T00:00:00 docs: url: http://www.europarl.europa.eu/sides/getDoc.do?type=REPORT&mode=XML&reference=A6-2005-183&language=EN type: Committee report tabled for plenary, single reading title: A6-0183/2005 body: EP type: Committee report tabled for plenary, single reading
    • date: 2005-07-06T00:00:00 docs: url: http://www.europarl.europa.eu/sides/getDoc.do?secondRef=TOC&language=EN&reference=20050706&type=CRE type: Debate in Parliament title: Debate in Parliament body: EP type: Debate in Parliament
    • date: 2005-07-07T00:00:00 docs: url: http://www.europarl.europa.eu/oeil/popups/sda.do?id=4112&l=en type: Results of vote in Parliament title: Results of vote in Parliament url: http://www.europarl.europa.eu/sides/getDoc.do?type=TA&language=EN&reference=P6-TA-2005-299 type: Decision by Parliament, 1st reading/single reading title: T6-0299/2005 body: EP type: Results of vote in Parliament
    committees
    • body: EP responsible: False committee_full: Budgets committee: BUDG
    • body: EP responsible: True committee: DEVE date: 2004-10-06T00:00:00 committee_full: Development rapporteur: group: GUE/NGL name: ZIMMER Gabriele
    links
    other
      procedure
      dossier_of_the_committee
      DEVE/6/24111
      reference
      2004/2213(INI)
      title
      The impact of the lending activities of the European Community in developing countries
      legal_basis
      Rules of Procedure of the European Parliament EP 052
      stage_reached
      Procedure completed
      subtype
      Initiative
      type
      INI - Own-initiative procedure
      subject