Procedure completed
Role | Committee | Rapporteur | Shadows |
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Lead | BUDG | SEPPÄNEN Esko (GUE/NGL) | |
Opinion | INTA |
Legal Basis EC Treaty (after Amsterdam) EC 179, EC Treaty (after Amsterdam) EC 181
Activites
- 2009/07/22 Final act published in Official Journal
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2009/07/13
Final act signed
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2009/07/09
End of procedure in Parliament
- #2954
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2009/07/07
Council Meeting
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2009/07/07
Act adopted by Council after Parliament's 1st reading
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2009/03/25
Results of vote in Parliament
- Results of vote in Parliament
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T6-0168/2009
summary
The European Parliament adopted by 582 votes to 9, with 25 abstentions, a legislative resolution amending, under the first reading of the codecision procedure, the proposal for a decision of the European Parliament and of the Council granting a Community guarantee to the European Investment Bank against losses under loans and loan guarantees for projects outside the Community.The amendments were the result of a compromise negotiated with the Council. The main amendments were as follows:the Community guarantee established by the Decision should cover EIB Financing Operations signed during a period beginning on 1 February 2007 and ending on 31 October 2011(rather than 31 December 2013 as the Commission had proposed);the Commission’s mid-term report on the application of the Decision should be presented by 30 April 2010.A number of recitals clarify Parliament’s views about the content and legal base of the new decision. They recall that he Court of Justice ordered in Case C-155/07 (Parliament v Council), that the effects of Decision 2006/1016/EC be maintained for EIB financing arrangements entered into before the entry into force, within a period of 12 months from the date of delivery of the judgment, of a new decision adopted on the appropriate legal basis, namely Articles 179 EC and 181a EC together. This judgment implies that the codecision procedure will now apply for the activation of the optional mandate, the eligibility of countries listed in Annex I, and the suspension of new EIB financing in a specific country in the event of serious concerns over the political or economic situation. A new Decision of the European Parliament and of the Council should therefore be adopted in order to provide for a continuous unchanged guarantee of the relevant EIB Financing Operations outside the Community. Nevertheless, the swift adoption of this Decision should be achieved whilst ensuring that the European Parliament's prerogatives are fully respected. For that reason, the Commission should present, before 30 April 2010, a proposal for a new decision taking into consideration the conclusions of the mid-term review.The proposal for a new decision should address, amongst other things, the issue of greater scrutiny by the European Parliament and the Council of all budgetary and political decisions to be taken by the EIB and the Commission in the framework of that new decision, the issue of transparency of the whole financing mechanism, and the issue of the limitation of Community guarantee compared to disbursed appropriations.The compromise underlined that EIB Financing Operations should be consistent with and support the Community's external policies including specific regional objectives and should contribute to the general objective of promoting and consolidating democracy and the rule of law, human rights and fundamental freedoms, and to the observance of international environmental agreements to which the Community is a party.Lastly, in relation to developing countries in particular, EIB Financing Operations shall foster: sustainable economic and social development of these countries, more particularly in the most disadvantaged amongst them; their smooth and gradual integration into the world economy; the campaign against poverty; the general objective of developing and consolidating democracy and the rule of law; the general objective of respecting human rights and fundamental freedoms; as well as compliance with objectives approved by the Community in the context of the United Nations and other competent international organisations.
- 2009/03/24 Debate in Parliament
- 2009/02/26 Committee report tabled for plenary, 1st reading/single reading
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2009/02/24
Vote in committee, 1st reading/single reading
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2009/02/03
Committee referral announced in Parliament, 1st reading/single reading
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2009/01/14
Legislative proposal published
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COM(2008)0910
summary
PURPOSE: proposal granting a Community guarantee to the European Investment Bank against losses under loans and loan guarantees for projects outside the Community for the period 2007-2013.PROPOSED ACT: Decision of the European Parliament and of the Council.BACKGROUND: the EIB's activities outside the EU have traditionally made up around 10-15% of its total activities (EUR 6.4 billion in 2007, of which EUR 3.7 billion under Community guarantee). EIB's operations in third countries represent a crucial complement to limited EU budget funds to increase the effectiveness and the visibility of the EU's external action. Considering that the EIB was originally set up and structured financially to operate within the EU, the mandates under Community guarantee cover represent the key tools which allow the EIB to carry out operations outside the EU, by providing the necessary political and financial backing by the Community for countries and projects which would not normally fit within the EIB's standard guidelines and criteria. The proposed Decision would continue the provision of a Community guarantee to EIB external lending in the place of but completely in line with the annulled Council Decision 2006/1016/EC and Council Decision 2008/847/EC.IMPACT ASSESSMENT: an alternative option examined in the framework of the proposal leading to the adoption of the annulled Decision 2006/1016/EC was not to provide a Community guarantee. However, this would have led to a withdrawal of the EIB from a number of countries and a significant increase in funding costs for projects located in other countries. This was deemed not to be politically desirable considering the need to have balanced EU intervention across the various countries in the different regions.CONTENT: the Community guarantee will cover EIB Financing Operations up to a global amount of EUR 27 800 million, including an optional mandate EUR 2 000 million, over the period 2007-2013. The guarantee shall be restricted to 65% of the aggregate amounts of credits disbursed and guarantees provided under EIB Financing Operations, less amounts reimbursed, plus all related sums. The overall ceiling shall be broken down by region with the following binding regional ceilings:a) Pre-accession countries: EUR 8 700 million;b) Neighbourhood and Partnership countries: EUR 12 400 million. This is broken down into two indicative sub-ceilings, i.e. Mediterranean: EUR 8 700 million, and Eastern Europe, Southern Caucasus and Russia: EUR 3 700 million;c) Asia and Latin America: EUR 3 800 million, broken down into two indicative sub-ceilings, i.e. Latin America: EUR 2 800 million and Asia (including Central Asia): EUR 1 000 million;d) Republic of South Africa: EUR 900 million;e) Optional Mandate: EUR 2 000 million. The activation in whole or in part of this optional amount and its regional distribution will be decided by the European Parliament and the Council in accordance with the co decision procedure. A mid-term review of the mandate will be carried out in 2010, which will allow, where necessary, for a refocusing of the priorities and for a possible release of the optional mandate. FINANCIAL IMPLICATIONS: these implications stem from the need to set aside provisions for the Community guarantee in the Guarantee Fund for External Action over the period of the Financial Framework 2007-2013.The total indicative financial cost of intervention including the cost of human resources, amounts to EUR 1229.3 millions EUR in payment appropriations for the whole period.
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COM(2008)0910
summary
Documents
- Legislative proposal published: COM(2008)0910
- Committee report tabled for plenary, 1st reading/single reading: A6-0109/2009
- Debate in Parliament: Debate in Parliament
- Results of vote in Parliament: Results of vote in Parliament
- Decision by Parliament, 1st reading/single reading: T6-0168/2009
- : Decision 2009/633
- : OJ L 190 22.07.2009, p. 0001
Amendments | Dossier |
53 |
2008/0268(COD)
2009/02/12
BUDG
53 amendments...
Amendment 10 #
Proposal for a decision Recital 3 (3) With a view to supporting the Community's external action without affecting the EIB's credit standing, the EIB should be offered a Community budgetary guarantee for operations carried out outside the Community. The EIB should be encouraged to increase its operations outside the Community without recourse to the Community guarantee, particularly in the pre-accession countries
Amendment 11 #
Proposal for a decision Recital 4 (4) The Community guarantee should cover losses under loans and loan guarantees for EIB eligible investment projects carried out in countries covered by the Instrument for Pre-Accession Assistance (the 'IPA'), the European Neighbourhood and Partnership Instrument (the 'ENPI')
Amendment 12 #
Proposal for a decision Recital 6 Amendment 13 #
Proposal for a decision Recital 7 (7) From 2007, the Community's external relations have also been supported by the new financial instruments, i.e. the IPA, the ENPI, the DCI, the EIDHR, the NSCI and by the Instrument for Stability
Amendment 14 #
Proposal for a decision Recital 8 (8) EIB Financing Operations should be consistent with and support the Community's external policies including specific regional objectives and should contribute to the general objective of promoting and consolidating democracy and the rule of law, human rights and fundamental freedoms, and to the observance of international environmental agreements to which the Community or its Member States are parties. In relation to developing countries in particular, EIB Financing Operations shall foster sustainable economic and social development of these countries, more particularly in the most disadvantaged amongst them; their smooth and gradual integration into the world economy; the campaign against poverty; the general objective of developing and consolidating democracy and the rule of law; the general objective of respecting human rights and fundamental freedoms; as well as compliance with objectives approved by the Community in the context of the United Nations and other competent international organisations. By ensuring overall coherence with Community actions, EIB financing should be complementary to corresponding Community assistance policies, programs and instruments in the different regions. Moreover, the protection of the environment and energy security of the Member States should form part of the EIB's financing objectives in all eligible regions. EIB Financing Operations should take place in countries complying with appropriate conditionality consistent with Community high level agreements on political and macro-economic aspects.
Amendment 15 #
Proposal for a decision Recital 8 (8) EIB Financing Operations should be consistent with and support the Community's external policies
Amendment 16 #
Proposal for a decision Recital 8 (8) EIB Financing Operations should be consistent with and support the Community's external policies
Amendment 17 #
Proposal for a decision Recital 9 a (new) (9a) The information received by the European Parliament and the Council and the opportunities for scrutiny should also be strengthened, including by the transmission to it of strategic programming documents prepared by the Commission or by the EIB and by addressing the consistency of EIB Financing Operations with the external policies and objectives of the European Union in the structured dialogue with the European Parliament established in the new external financing instruments for 2007-2013.
Amendment 18 #
Proposal for a decision Recital 10 (10) With regard to pre-accession countries, EIB financing in those countries should reflect the priorities established in the Accession and European Partnerships, in the Stabilisation and Association agreements and in negotiations with the Community. The focus of Community action in the Western Balkans should continue to shift progressively from reconstruction to pre-accession support. In this context, the EIB activity should, in addition, also seek to encourage the institution building aspect, where relevant,
Amendment 19 #
Proposal for a decision Recital 10 (10) With regard to pre-accession countries, EIB financing in those countries should reflect the priorities established in the Accession and European Partnerships, in the Stabilisation and Association agreements and in negotiations with the Community. The focus of Community action in the Western Balkans should continue to shift progressively from reconstruction to pre-accession support. In this context, the EIB activity should, in addition, also seek to encourage the institution building aspect, where relevant, in cooperation with other International Financial Institutions ('IFIs') active in the region. Over the period 2007-201
Amendment 20 #
Proposal for a decision Recital 10 (10) With regard to pre-accession countries, EIB financing in those countries should reflect the priorities established in the Accession and European Partnerships, in the Stabilisation and Association agreements and in negotiations with the Community. The focus of Community action in the Western Balkans should continue to shift progressively from reconstruction to pre-accession support, while taking account of the present economic climate and the economic difficulties which to one or another extent all countries are faced with. In this context, the EIB activity should, in addition, also seek to encourage the institution building aspect, where relevant, in cooperation with other International Financial Institutions ('IFIs') active in the region. Over the period 2007-2013, financing to candidate countries (Croatia, Turkey and the former Yugoslav Republic of Macedonia) should increasingly take place under the Pre-Accession Facility made available by the EIB, which should be extended over time to cover the potential candidate countries in the Western Balkans in line with the progress of their accession process
Amendment 21 #
Proposal for a decision Recital 11 (11) With regard to countries covered by the ENPI, the EIB should continue and consolidate its activities
Amendment 22 #
Proposal for a decision Recital 12 (12) EIB financing in the Asian and Latin American countries will be progressively aligned with the EU cooperation strategy in those regions and be complementary to instruments financed by Community budgetary resources. The EIB should endeavour to progressively expand its activities across a larger number of countries in those regions, including in the less prosperous countries. In support of Community objectives, EIB financing in the Asian and Latin American countries should focus on environmental sustainability (including climate change mitigation) and energy security projects, on the goals of Community policy in the sphere of development cooperation as well as the continued support of EU presence in Asia and Latin America through Foreign Direct Investment, and the transfer of technology and know how. Taking into account cost-efficiency, the EIB should be able to work also directly
Amendment 23 #
Proposal for a decision Recital 13 (13) In Central Asia, the EIB should focus on major energy supply and energy transport projects which also serve Community energy interests and are consistent with and support the Community policy objectives of diversification of energy sources and the Kyoto requirements, the goals of Community policy in the sphere of development cooperation and of enhancement of environmental protection. EIB financing in Central Asia should be carried out in close cooperation with the EBRD, in particular according to the terms set out in a tripartite Memorandum of Understanding between the Commission, the EIB and the EBRD.
Amendment 24 #
Proposal for a decision Recital 14 (14) To complement the EIB activities under the Cotonou Agreement for the ACP countries, in South Africa the EIB should focus on infrastructure projects of public interest (including municipal infrastructure, power and water supply) and private sector support, including SMEs, as well as on the goals of Community policy in the sphere of development cooperation. The implementation of the provisions on economic cooperation under the EU-South Africa Trade and Development Cooperation Agreement will further promote EIB activities in this region.
Amendment 25 #
Proposal for a decision Recital 15 (15) With a view to enhancing the coherence of overall Community support in the regions concerned, opportunities should be sought to combine EIB financing with Community budgetary resources as appropriate, in the form of grant support, risk capital and interest rate subsidies, alongside technical assistance for project preparation, implementation or enhancement of the legal and regulatory framework and project standards, through the IPA, the ENPI, the Instrument for Stability, the EIDHR, the EIR, the WCD and, for South Africa, the DCI.
Amendment 26 #
Proposal for a decision Recital 15 (15) With a view to enhancing the coherence of overall Community support in the regions concerned, opportunities should be sought to combine EIB financing with Community budgetary resources as appropriate, in the form of grant support, risk capital and interest rate subsidies,
Amendment 27 #
Proposal for a decision Recital 16 (16) The EIB already closely cooperates with IFIs and with European bilateral institutions. This cooperation is guided by regionally-specific Memoranda of Understanding, which should be approved by the governing bodies of the EIB. In its financing operations outside the Community falling within the scope of this Decision, the EIB should endeavour to further enhance coordination and cooperation with IFIs and with European bilateral institutions where relevant, including, where appropriate, cooperation on sector conditionality, increased use of cofinancing and participation with other IFIs in global initiatives, such as those promoting
Amendment 28 #
Proposal for a decision Recital 17 (17) Reporting and transmission of information by the EIB and the Commission on EIB Financing Operations should be strengthened. On the basis of the information received from the EIB, the Commission should report, on an annual basis, to the European Parliament and the Council on the EIB Financing Operations carried out under this Decision. Th
Amendment 29 #
Proposal for a decision Recital 18 (18) The Community guarantee established by this Decision should cover EIB
Amendment 30 #
Proposal for a decision Recital 18 (18) The Community guarantee established by this Decision should cover EIB Financing Operations signed during a period beginning on 1 February 2007 and ending on 31
Amendment 31 #
Proposal for a decision Recital 23 (23) The Court, however, ordered that the effects of Decision 2006/1016/EC be maintained for EIB financing arrangements entered into before the entry into force, within a period of 12 months from the date of delivery of the said judgment, of a new decision adopted on the appropriate legal basis, namely Articles 179 EC and 181a EC together. This judgement implies that the codecision procedure will now apply for the activation of the optional mandate, the eligibility of countries listed in Annex I, and the suspension of new EIB financing in a specific country in the event of serious concerns over the political or economic situation.
Amendment 32 #
Proposal for a decision Recital 24 (24) A new Decision of the European Parliament and of the Council should therefore be adopted swiftly in order to provide for a continu
Amendment 33 #
Proposal for a decision Recital 24 a (new) (24a) In order to preserve fully the prerogatives of the legislative authority the Commission shall present before 15 October 2009 a proposal for a new decision.
Amendment 34 #
Proposal for a decision Recital 24 a (new) (24a) Nevertheless, the swift adoption of this Decision should be achieved whilst ensuring that the European Parliament's prerogatives are fully respected; for that reason, the Commission should present, before 30 April 2010, a proposal for a new decision also taking into consideration the conclusions of the mid-term review.
Amendment 35 #
Proposal for a decision Recital 24 a (new) (24a) Nevertheless, the swift adoption of this Decision should be achieved whilst ensuring that the European Parliament's prerogatives are fully respected; for that reason, the Commission should present, before 30 April 2010, a proposal for a new decision also taking into consideration the conclusions of the mid-term review.
Amendment 36 #
Proposal for a decision Recital 24 a (new) (24a) Nevertheless, the swift adoption of this Decision should be achieved whilst ensuring that the European Parliament's prerogatives are fully respected; for that reason, the Commission should present, before 31 May 2010, a proposal for a new decision also taking into consideration the conclusions of the mid-term review.
Amendment 37 #
Proposal for a decision Recital 24 b (new) (24b) The presentation of a new proposal for a decision of the European Parliament and of the Council by 28 February 2010 is all the more necessary since this Decision will expire on 31 August 2011.
Amendment 38 #
Proposal for a decision Recital 24 b (new) (24b) The presentation of a proposal for a new decision of the European Parliament and of the Council by 30 April 2010 is all the more necessary since this Decision will expire on 31 October 2011.
Amendment 39 #
Proposal for a decision Recital 24 b (new) Amendment 40 #
Proposal for a decision Article 1 – paragraph 3 3. The maximum ceiling of the EIB Financing Operations throughout the period referred to in paragraph 6, less amounts cancelled, shall not exceed EUR
Amendment 41 #
Proposal for a decision Article 1 – paragraph 4 4. The basic ceiling referred to in paragraph 3(a) shall be broken down into the following binding regional ceilings: (a) Pre-Accession countries: EUR
Amendment 42 #
Proposal for a decision Article 1 – paragraph 6 6. The Community guarantee shall cover EIB Financing Operations signed during the period beginning on 1 February 2007 and ending on 31 December 201
Amendment 43 #
Proposal for a decision Article 1 – paragraph 6 6. The Community guarantee shall cover EIB Financing Operations signed during the period beginning on 1 February 2007 and ending on 31
Amendment 44 #
Proposal for a decision Article 1 – paragraph 7 Amendment 45 #
Proposal for a decision Article 3 1. The consistency of EIB external actions with the external policy objectives of the Community, including the Community policy in the sphere of development cooperation, shall be strengthened with a view to maximising synergies of EIB financing and budgetary resources of the European Union, notably through regular and systematic dialogue and early consultation on: (a) strategic documents prepared by the Commission, such as country and regional
Amendment 46 #
Proposal for a decision Article 3 – paragraph 1 1. The consistency of EIB external actions with the external policy objectives of, and the new internal policy duties assigned by, the Community shall be strengthened with a view to maximising synergies of EIB financing and budgetary resources of the European Union, notably through regular and systematic dialogue and early consultation on:
Amendment 47 #
Proposal for a decision Article 6 – paragraph 1 1. The Commission shall report annually to the European Parliament and the Council on the EIB Financing Operations carried out under this Decision. The report shall include an assessment of impact and effectiveness of EIB Financing Operations at project, sector, country and regional level as well as the contribution of the EIB Financing Operations to the fulfilment of the external policy objectives of the Community, notably the goals of Community policy in the sphere of development cooperation, as well as its contribution to promoting and consolidating democracy and the rule of law, human rights and fundamental freedoms, and to the observance of international environmental agreements to which the Community or its Member States are parties, taking into account the operational objectives of the EIB. It shall also include an assessment of the extent of
Amendment 48 #
Proposal for a decision Article 6 − paragraph 1 1. The Commission shall report annually to the European Parliament and the Council on the EIB Financing Operations carried out under this Decision. The report shall include an assessment of impact and effectiveness of EIB Financing Operations at project, sector, country and regional level as well as the contribution of the EIB Financing Operations to the fulfilment of the external policy objectives of the Community, including Community policy in the sphere of development cooperation, taking into account the operational objectives of the EIB. It shall also include an assessment of the extent of cooperation between the EIB and the Commission and between the EIB and other IFIs and bilateral donors.
Amendment 49 #
Proposal for a decision Article 6 − paragraph 2 2. For the purposes of paragraph 1, the EIB shall provide the Commission with yearly reports of EIB Financing Operations carried out under this Decision and of the fulfilment of the external policy objectives of the Community, including Community policy in the sphere of development cooperation, including cooperation with other IFIs.
Amendment 50 #
Proposal for a decision Article 8 The EIB and the Commission shall enter
Amendment 51 #
Proposal for a decision Article 9 – paragraph 1 1. The Commission shall present to the European Parliament and the Council a
Amendment 52 #
Proposal for a decision Article 9 – paragraph 1 1. The Commission shall present to the European Parliament and the Council a mid-term report on the application of this Decision by
Amendment 53 #
Proposal for a decision Article 9 – paragraph 1 1. The Commission shall present to the European Parliament and the Council a mid-term report on the application of this Decision by 30
Amendment 54 #
Proposal for a decision Article 9 – paragraph 1 1. The Commission shall present to the European Parliament and the Council a mid-term report on the application of this Decision by 30
Amendment 55 #
Proposal for a decision Article 9 – paragraph 1 1. The Commission shall present to the European Parliament and the Council a mid-term report on the application of this Decision by 3
Amendment 56 #
Proposal for a decision Article 9 – paragraph 2 Amendment 57 #
Proposal for a decision Article 11 This Decision shall take effect on the third day following its publication in the Official Journal of the European Union and shall expire on 31 August 2011.
Amendment 58 #
Proposal for a decision Article 11 This Decision shall take effect on the third
Amendment 59 #
Proposal for a decision Article 11 This Decision shall take effect on the third day following its publication in the Official Journal of the European Union and shall expire on 31st January 2012.
Amendment 60 #
Proposal for a decision Annex I – section A – point 2 2. Potential candidate countries Albania, Bosnia and Herzegovina, Montenegro, Serbia
Amendment 61 #
Proposal for a decision Annex II Amendment 62 #
Proposal for a decision Annex II source: PE-420.109
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