BETA


2013/2131(INI) European Investment Bank (EIB) - Annual report 2012

Progress: Procedure completed

RoleCommitteeRapporteurShadows
Lead CONT MARINESCU Marian-Jean (icon: PPE PPE) KALFIN Ivailo (icon: S&D S&D), GERBRANDY Gerben-Jan (icon: ALDE ALDE), STAES Bart (icon: Verts/ALE Verts/ALE), CZARNECKI Ryszard (icon: ECR ECR), VANHECKE Frank (icon: EFD EFD)
Committee Opinion ECON BERMAN Thijs (icon: S&D S&D)
Lead committee dossier:
Legal Basis:
RoP 54

Events

2014/08/11
   EC - Commission response to text adopted in plenary
Documents
2014/03/11
   EP - Results of vote in Parliament
2014/03/11
   EP - Decision by Parliament
Details

The European Parliament adopted by 640 to 30 votes with 12 abstentions, a resolution on the European Investment Bank (EIB) – Annual Report 2012.

Members welcomed the Annual Report 2012 and welcomed the fact that the Council and the EIB Board of Governors’ approved a EUR 10 billion capital increase , facilitating an additional EUR 60 billion (amounting to a 49% expansion of lending targets) for long-term lending for projects in the EU in the period 2013-2015. They have asked the EIB to keep the anticipated targets in relation to its additional activity and to unlock EUR 180 billion in extra investments across the EU for the aforementioned period.

Parliament has acknowledged that it is fundamental for the EIB to maintain its triple A rating in order to preserve its financial strength and capacity to inject money in the real economy. However, it urged the EIB together with the EIF to consider increasing its engagement in more risk-related activities , in order to safeguard a reasonable cost-benefit perspective.

The EIB has been invited to:

· support the EU’s long-term priorities for economic and social cohesion, growth and employment, environmental sustainability, climate action and resource efficiency;

· prioritise its financing on projects that contribute strongly to economic growth;

· increase its activity under the Risk Capital Mandate (RCM) and the Mezzanine for Growth (MFG) mandate provided by the EIB to the EIF;

· develop, in close cooperation with the Member States, result-driven investment plans that are properly adjusted to national, regional and local growth priorities;

· enhance efforts, in the current context of critically low absorption rates in many Member States, to support Member States’ absorption capacity of EU resources, including Structural Funds, by further developing additional joint risk-sharing instruments and by adapting the existing ones already funded by the EU budget.

Parliament welcomed the EIB’s new energy policy, introducing new energy lending criteria that reflect the EU’s energy and climate policies as well as current investment trends. It demanded that EIB energy investments be made public and be analysed on an annual basis, showing what energy sources are supported by the EIB.

In addition, it urged the EIB to step up its low-carbon investment efforts and to work on policies leading to more ambitious climate targets and to update its climate change strategy in terms of financial planning by the end of 2015.

More specifically, Parliament sent several recommendations to the EIB with a view to:

1) strengthen the range of support for SMEs and mid-cap companies : the resolution invited the EIB to identify and select higher-value-added projects , by identifying start-ups, micro-enterprises, cooperatives, clusters of enterprises, SMEs and mid-cap companies undertaking research, development and innovation projects in priority technologies area.

Members supported the Commission-EIB joint SME Initiative under the new MFF, blending EU funds available under the COSME and Horizon 2020 programmes, with up to EUR8.5 billion of resources dedicated to the European Structural and Investment Funds (ESIF), in view of generating additional lending to SMEs. They also invited the Bank to widen its scope of action and to make use of additional instruments in order to provide viable incentives for generating youth employment, especially in Member States with notoriously high rates of youth unemployment.

2) support the European Union’s foreign policy objectives as conceived by the Commission and the European External Action Service :

Parliament emphasised the need to maintain support to democratic and economic transitions following the Arab Spring, with specific focus on support for civil society’s components, job creation and economic recovery in the Southern countries and Eastern partner countries.

3) intensify cooperation with other international financial institutions : Members encouraged the EIB and EBRD to engage in the best possible operational coordination in order to research systematically the best opportunities and synergies, and to strengthen their strategic and programming approaches in the various fields of intervention;

4) further improve their governance mechanisms through, inter alia , the development of exhaustive and sound monitoring, reporting and control systems : Members have demanded that the next annual report be complemented with a set of cross-cutting performance indicators on the impact of the financing operations for the main domains of EIB interventions. They underlined the Bank’s responsibility in enhancing the level of transparency in the selection of financial intermediaries and partners for co-financed projects and as regards the final beneficiaries.

Finally, it called on the EIB to report on the state of play and status of previous recommendations issued by Parliament in each annual report, especially as regards the impact of its lending activities in its various regions of operation on growth and job creation therein and in the EU.

Documents
2014/03/11
   EP - End of procedure in Parliament
2014/03/10
   EP - Debate in Parliament
2014/02/21
   EP - Committee report tabled for plenary
Details

The Committee on Budgetary Control adopted the own-initiative report by Marian-Jean Paulo MARINESCU (EPP, RO) on the European Investment Bank (EIB) – Annual Report 2012.

It welcomed the EIB Annual Report 2012 and the EIB Board of Governors’ approval of a EUR 10 billion capital increase , facilitating an additional EUR 60 billion (amounting to a 49 % expansion of lending targets) for long-term lending for projects in the EU in the period 2013-2015. Members asked the EIB to keep the anticipated targets in relation to its additional activity and to unlock EUR 180 billion in extra investments across the EU for this period.

The committee recognised that there was a crucial need to ensure that the EIB kept its triple A credit rating, in order to preserve its financial strength and capacity to inject money in the real economy. It urged the EIB, however, together with the EIF to consider increasing its engagement in more risk-related activities, in order to safeguard a reasonable cost-benefit perspective.

The EIB is asked to:

· support the EU’s long-term priorities for economic and social cohesion, growth and employment, environmental sustainability, climate action and resource efficiency;

· prioritise its financing on projects that contribute strongly to economic growth;

· increase its activity under the Risk Capital Mandate (RCM) and the Mezzanine for Growth (MFG) mandate provided by the EIB to the EIF;

· develop, in close cooperation with the Member States, result-driven investment plans that are properly adjusted to national, regional and local growth priorities,;

· make public EIB energy investments which be analysed on an annual basis, showing what energy sources are supported by the EIB;

· in the current context of critically low absorption rates in many Member States, to enhance efforts to support Member States’ absorption capacity of EU resources, including Structural Funds, by further developing additional joint risk-sharing instruments and by adapting the existing ones already funded by the EU budget.

More specifically, the report adressed certain recommendations to the EIB :

1) Strengthening the range of support for SMEs and mid-cap companies: the committee supported the Commission-EIB joint SME Initiative under the new MFF, blending EU funds available under the COSME and Horizon 2020 programmes, with up to EUR 8.5 billion of resources dedicated to the European Structural and Investment Funds (ESIF), in view of generating additional lending to SMEs. It invited the Bank to widen its scope of action and to make use of additional instruments in order to provide viable incentives for generating youth employment, especially in Member States with notoriously high rates of youth unemployment.

2) The EIB’s contribution to EU external policies : Members emphasised, in particular, the need to maintain support to democratic and economic transitions following the Arab Spring, with specific focus on support for civil society’s components, job creation and economic recovery in the Southern countries and Eastern partner countries.

3) The EIB’s cooperation with other international financial institutions : the report called on the EIB and the EBRD to engage in the best possible operational coordination in terms of complementarity and division of labour, in order to research systematically the best opportunities and synergies. It called on the Banks to strengthen, their expertise, their strategic and programming approaches in the various fields of intervention.

4) The EIB’s governance, compliance and control framework , through, inter alia, the development of exhaustive and sound monitoring, reporting and control systems: Members demanded that the next annual report be complemented with a set of cross-cutting performance indicators on the impact of the financing operations for the main domains of EIB interventions, and accentuated the Bank’s responsibility in enhancing the level of transparency in the selection of financial intermediaries and partners for co-financed projects and as regards the final beneficiaries.

Documents
2014/02/18
   EP - Vote in committee
2014/01/10
   EP - Amendments tabled in committee
Documents
2013/12/18
   EP - Committee opinion
Documents
2013/11/18
   EP - Committee draft report
Documents
2013/08/07
   EP - MARINESCU Marian-Jean (PPE) appointed as rapporteur in CONT
2013/07/04
   EP - Committee referral announced in Parliament
2013/01/14
   EP - BERMAN Thijs (S&D) appointed as rapporteur in ECON

Documents

Activities

Votes

A7-0137/2014 - Marian-Jean Marinescu - § 38/2 #

2014/03/11 Outcome: +: 555, -: 106, 0: 16
DE FR IT RO PT SE ES PL HU BE AT EL BG SK FI IE NL DK HR SI LT EE LV CY MT LU CZ GB
Total
91
65
59
28
20
19
47
43
21
18
18
16
15
13
12
11
25
13
11
7
8
6
8
5
5
6
19
67
icon: PPE PPE
237

Denmark PPE

For (1)

1

Lithuania PPE

1

Estonia PPE

For (1)

1
2

Malta PPE

For (1)

1

Luxembourg PPE

3

Czechia PPE

1
icon: S&D S&D
173

Finland S&D

2

Ireland S&D

For (1)

1

Netherlands S&D

3

Slovenia S&D

For (1)

1

Estonia S&D

For (1)

1

Latvia S&D

1

Cyprus S&D

1

Luxembourg S&D

Against (1)

1
icon: ALDE ALDE
74

Belgium ALDE

2

Austria ALDE

1

Slovakia ALDE

For (1)

1
3

Slovenia ALDE

2

Luxembourg ALDE

For (1)

1
icon: Verts/ALE Verts/ALE
55

Portugal Verts/ALE

For (1)

1

Austria Verts/ALE

2

Greece Verts/ALE

1

Finland Verts/ALE

2

Netherlands Verts/ALE

3

Denmark Verts/ALE

For (1)

1

Estonia Verts/ALE

For (1)

1

Latvia Verts/ALE

1

Luxembourg Verts/ALE

For (1)

1

United Kingdom Verts/ALE

5
icon: GUE/NGL GUE/NGL
32

Portugal GUE/NGL

3

Sweden GUE/NGL

1

Spain GUE/NGL

Abstain (1)

1

Greece GUE/NGL

3

Ireland GUE/NGL

For (1)

1

Netherlands GUE/NGL

2

Denmark GUE/NGL

For (1)

1

Croatia GUE/NGL

1

Latvia GUE/NGL

For (1)

1

United Kingdom GUE/NGL

1
icon: NI NI
30

Italy NI

For (1)

Against (1)

2

Spain NI

1

Hungary NI

For (1)

3

Belgium NI

Against (1)

1

Bulgaria NI

Against (1)

1

Ireland NI

For (1)

1
icon: EFD EFD
25

Belgium EFD

Against (1)

1

Greece EFD

1

Bulgaria EFD

For (1)

1

Slovakia EFD

For (1)

1

Finland EFD

For (1)

1

Netherlands EFD

Against (1)

1

Denmark EFD

Against (1)

1

Lithuania EFD

For (1)

1
icon: ECR ECR
50

Italy ECR

Against (1)

Abstain (1)

2

Hungary ECR

Against (1)

1

Belgium ECR

For (1)

1

Netherlands ECR

Against (1)

1

Denmark ECR

Against (1)

1

Croatia ECR

Against (1)

1

Lithuania ECR

Against (1)

1

Latvia ECR

Against (1)

1

A7-0137/2014 - Marian-Jean Marinescu - Résolution #

2014/03/11 Outcome: +: 640, -: 32, 0: 12
DE IT FR GB ES PL RO CZ HU SE PT NL BG BE AT DK SK HR EL FI IE LT LV SI LU EE CY MT
Total
92
60
65
68
48
45
27
20
21
19
20
25
15
18
19
13
13
12
16
11
11
8
8
7
6
6
5
5
icon: PPE PPE
239

Czechia PPE

1

Denmark PPE

For (1)

1

Lithuania PPE

1

Luxembourg PPE

3

Estonia PPE

For (1)

1
2

Malta PPE

For (1)

1
icon: S&D S&D
176

Netherlands S&D

3

Finland S&D

2

Ireland S&D

For (1)

1

Latvia S&D

1

Slovenia S&D

For (1)

1

Luxembourg S&D

For (1)

1

Estonia S&D

For (1)

1

Cyprus S&D

1
icon: ALDE ALDE
74

Belgium ALDE

2

Austria ALDE

1
3

Slovakia ALDE

For (1)

1

Slovenia ALDE

2

Luxembourg ALDE

For (1)

1
icon: Verts/ALE Verts/ALE
55

United Kingdom Verts/ALE

5

Sweden Verts/ALE

Abstain (1)

4

Portugal Verts/ALE

For (1)

1

Netherlands Verts/ALE

3

Austria Verts/ALE

2

Denmark Verts/ALE

For (1)

1

Greece Verts/ALE

1

Finland Verts/ALE

2

Latvia Verts/ALE

1

Luxembourg Verts/ALE

For (1)

1

Estonia Verts/ALE

For (1)

1
icon: ECR ECR
52

Hungary ECR

Against (1)

1

Netherlands ECR

For (1)

1

Belgium ECR

For (1)

1

Denmark ECR

For (1)

1

Croatia ECR

For (1)

1

Lithuania ECR

1

Latvia ECR

For (1)

1
icon: GUE/NGL GUE/NGL
32

United Kingdom GUE/NGL

1

Spain GUE/NGL

Abstain (1)

1

Sweden GUE/NGL

1

Portugal GUE/NGL

For (1)

3

Netherlands GUE/NGL

2

Denmark GUE/NGL

For (1)

1

Croatia GUE/NGL

1

Greece GUE/NGL

Abstain (1)

3

Ireland GUE/NGL

Against (1)

1

Latvia GUE/NGL

For (1)

1
icon: EFD EFD
25

Netherlands EFD

For (1)

1

Bulgaria EFD

For (1)

1

Belgium EFD

Against (1)

1

Denmark EFD

1

Slovakia EFD

For (1)

1

Greece EFD

1

Finland EFD

Abstain (1)

1

Lithuania EFD

For (1)

1
icon: NI NI
30

Italy NI

2

Spain NI

1

Bulgaria NI

Abstain (1)

1

Belgium NI

Against (1)

1
5

Ireland NI

For (1)

1
AmendmentsDossier
111 2013/2131(INI)
2013/11/06 ECON 21 amendments...
source: PE-522.921
2014/01/10 CONT 90 amendments...
source: PE-524.886

History

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

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  • date: 2013-12-18T00:00:00 docs: url: http://www.europarl.europa.eu/sides/getDoc.do?type=COMPARL&mode=XML&language=EN&reference=PE519.461&secondRef=02 title: PE519.461 committee: ECON type: Committee opinion body: EP
  • date: 2014-01-10T00:00:00 docs: url: http://www.europarl.europa.eu/sides/getDoc.do?type=COMPARL&mode=XML&language=EN&reference=PE524.886 title: PE524.886 type: Amendments tabled in committee body: EP
  • date: 2014-08-11T00:00:00 docs: url: /oeil/spdoc.do?i=24261&j=0&l=en title: SP(2014)457 type: Commission response to text adopted in plenary
events
  • date: 2013-07-04T00:00:00 type: Committee referral announced in Parliament, 1st reading/single reading body: EP
  • date: 2014-02-18T00:00:00 type: Vote in committee, 1st reading/single reading body: EP
  • date: 2014-02-21T00:00:00 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=A7-2014-0137&language=EN title: A7-0137/2014 summary: The Committee on Budgetary Control adopted the own-initiative report by Marian-Jean Paulo MARINESCU (EPP, RO) on the European Investment Bank (EIB) – Annual Report 2012. It welcomed the EIB Annual Report 2012 and the EIB Board of Governors’ approval of a EUR 10 billion capital increase , facilitating an additional EUR 60 billion (amounting to a 49 % expansion of lending targets) for long-term lending for projects in the EU in the period 2013-2015. Members asked the EIB to keep the anticipated targets in relation to its additional activity and to unlock EUR 180 billion in extra investments across the EU for this period. The committee recognised that there was a crucial need to ensure that the EIB kept its triple A credit rating, in order to preserve its financial strength and capacity to inject money in the real economy. It urged the EIB, however, together with the EIF to consider increasing its engagement in more risk-related activities, in order to safeguard a reasonable cost-benefit perspective. The EIB is asked to: · support the EU’s long-term priorities for economic and social cohesion, growth and employment, environmental sustainability, climate action and resource efficiency; · prioritise its financing on projects that contribute strongly to economic growth; · increase its activity under the Risk Capital Mandate (RCM) and the Mezzanine for Growth (MFG) mandate provided by the EIB to the EIF; · develop, in close cooperation with the Member States, result-driven investment plans that are properly adjusted to national, regional and local growth priorities,; · make public EIB energy investments which be analysed on an annual basis, showing what energy sources are supported by the EIB; · in the current context of critically low absorption rates in many Member States, to enhance efforts to support Member States’ absorption capacity of EU resources, including Structural Funds, by further developing additional joint risk-sharing instruments and by adapting the existing ones already funded by the EU budget. More specifically, the report adressed certain recommendations to the EIB : 1) Strengthening the range of support for SMEs and mid-cap companies: the committee supported the Commission-EIB joint SME Initiative under the new MFF, blending EU funds available under the COSME and Horizon 2020 programmes, with up to EUR 8.5 billion of resources dedicated to the European Structural and Investment Funds (ESIF), in view of generating additional lending to SMEs. It invited the Bank to widen its scope of action and to make use of additional instruments in order to provide viable incentives for generating youth employment, especially in Member States with notoriously high rates of youth unemployment. 2) The EIB’s contribution to EU external policies : Members emphasised, in particular, the need to maintain support to democratic and economic transitions following the Arab Spring, with specific focus on support for civil society’s components, job creation and economic recovery in the Southern countries and Eastern partner countries. 3) The EIB’s cooperation with other international financial institutions : the report called on the EIB and the EBRD to engage in the best possible operational coordination in terms of complementarity and division of labour, in order to research systematically the best opportunities and synergies. It called on the Banks to strengthen, their expertise, their strategic and programming approaches in the various fields of intervention. 4) The EIB’s governance, compliance and control framework , through, inter alia, the development of exhaustive and sound monitoring, reporting and control systems: Members demanded that the next annual report be complemented with a set of cross-cutting performance indicators on the impact of the financing operations for the main domains of EIB interventions, and accentuated the Bank’s responsibility in enhancing the level of transparency in the selection of financial intermediaries and partners for co-financed projects and as regards the final beneficiaries.
  • date: 2014-03-10T00:00:00 type: Debate in Parliament body: EP docs: url: http://www.europarl.europa.eu/sides/getDoc.do?secondRef=TOC&language=EN&reference=20140310&type=CRE title: Debate in Parliament
  • date: 2014-03-11T00:00:00 type: Results of vote in Parliament body: EP docs: url: https://oeil.secure.europarl.europa.eu/oeil/popups/sda.do?id=24261&l=en title: Results of vote in Parliament
  • date: 2014-03-11T00:00:00 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=P7-TA-2014-0201 title: T7-0201/2014 summary: The European Parliament adopted by 640 to 30 votes with 12 abstentions, a resolution on the European Investment Bank (EIB) – Annual Report 2012. Members welcomed the Annual Report 2012 and welcomed the fact that the Council and the EIB Board of Governors’ approved a EUR 10 billion capital increase , facilitating an additional EUR 60 billion (amounting to a 49% expansion of lending targets) for long-term lending for projects in the EU in the period 2013-2015. They have asked the EIB to keep the anticipated targets in relation to its additional activity and to unlock EUR 180 billion in extra investments across the EU for the aforementioned period. Parliament has acknowledged that it is fundamental for the EIB to maintain its triple A rating in order to preserve its financial strength and capacity to inject money in the real economy. However, it urged the EIB together with the EIF to consider increasing its engagement in more risk-related activities , in order to safeguard a reasonable cost-benefit perspective. The EIB has been invited to: · support the EU’s long-term priorities for economic and social cohesion, growth and employment, environmental sustainability, climate action and resource efficiency; · prioritise its financing on projects that contribute strongly to economic growth; · increase its activity under the Risk Capital Mandate (RCM) and the Mezzanine for Growth (MFG) mandate provided by the EIB to the EIF; · develop, in close cooperation with the Member States, result-driven investment plans that are properly adjusted to national, regional and local growth priorities; · enhance efforts, in the current context of critically low absorption rates in many Member States, to support Member States’ absorption capacity of EU resources, including Structural Funds, by further developing additional joint risk-sharing instruments and by adapting the existing ones already funded by the EU budget. Parliament welcomed the EIB’s new energy policy, introducing new energy lending criteria that reflect the EU’s energy and climate policies as well as current investment trends. It demanded that EIB energy investments be made public and be analysed on an annual basis, showing what energy sources are supported by the EIB. In addition, it urged the EIB to step up its low-carbon investment efforts and to work on policies leading to more ambitious climate targets and to update its climate change strategy in terms of financial planning by the end of 2015. More specifically, Parliament sent several recommendations to the EIB with a view to: 1) strengthen the range of support for SMEs and mid-cap companies : the resolution invited the EIB to identify and select higher-value-added projects , by identifying start-ups, micro-enterprises, cooperatives, clusters of enterprises, SMEs and mid-cap companies undertaking research, development and innovation projects in priority technologies area. Members supported the Commission-EIB joint SME Initiative under the new MFF, blending EU funds available under the COSME and Horizon 2020 programmes, with up to EUR8.5 billion of resources dedicated to the European Structural and Investment Funds (ESIF), in view of generating additional lending to SMEs. They also invited the Bank to widen its scope of action and to make use of additional instruments in order to provide viable incentives for generating youth employment, especially in Member States with notoriously high rates of youth unemployment. 2) support the European Union’s foreign policy objectives as conceived by the Commission and the European External Action Service : Parliament emphasised the need to maintain support to democratic and economic transitions following the Arab Spring, with specific focus on support for civil society’s components, job creation and economic recovery in the Southern countries and Eastern partner countries. 3) intensify cooperation with other international financial institutions : Members encouraged the EIB and EBRD to engage in the best possible operational coordination in order to research systematically the best opportunities and synergies, and to strengthen their strategic and programming approaches in the various fields of intervention; 4) further improve their governance mechanisms through, inter alia , the development of exhaustive and sound monitoring, reporting and control systems : Members have demanded that the next annual report be complemented with a set of cross-cutting performance indicators on the impact of the financing operations for the main domains of EIB interventions. They underlined the Bank’s responsibility in enhancing the level of transparency in the selection of financial intermediaries and partners for co-financed projects and as regards the final beneficiaries. Finally, it called on the EIB to report on the state of play and status of previous recommendations issued by Parliament in each annual report, especially as regards the impact of its lending activities in its various regions of operation on growth and job creation therein and in the EU.
  • date: 2014-03-11T00:00:00 type: End of procedure in Parliament body: EP
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  • body: EC dg: url: http://ec.europa.eu/dgs/economy_finance/index_en.htm title: Economic and Financial Affairs commissioner: REHN Olli
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  • The Committee on Budgetary Control adopted the own-initiative report by Marian-Jean Paulo MARINESCU (EPP, RO) on the European Investment Bank (EIB) – Annual Report 2012.

    It welcomed the EIB Annual Report 2012 and the EIB Board of Governors’ approval of a EUR 10 billion capital increase, facilitating an additional EUR 60 billion (amounting to a 49 % expansion of lending targets) for long-term lending for projects in the EU in the period 2013-2015. Members asked the EIB to keep the anticipated targets in relation to its additional activity and to unlock EUR 180 billion in extra investments across the EU for this period.

    The committee recognised that there was a crucial need to ensure that the EIB kept its triple A credit rating, in order to preserve its financial strength and capacity to inject money in the real economy. It urged the EIB, however, together with the EIF to consider increasing its engagement in more risk-related activities, in order to safeguard a reasonable cost-benefit perspective.

    The EIB is asked to:

    ·        support the EU’s long-term priorities for economic and social cohesion, growth and employment, environmental sustainability, climate action and resource efficiency;

    ·        prioritise its financing on projects that contribute strongly to economic growth;

    ·        increase its activity under the Risk Capital Mandate (RCM) and the Mezzanine for Growth (MFG) mandate provided by the EIB to the EIF;

    ·        develop, in close cooperation with the Member States, result-driven investment plans that are properly adjusted to national, regional and local growth priorities,;

    ·        make public EIB energy investments which be analysed on an annual basis, showing what energy sources are supported by the EIB;

    ·        in the current context of critically low absorption rates in many Member States, to enhance efforts to support Member States’ absorption capacity of EU resources, including Structural Funds, by further developing additional joint risk-sharing instruments and by adapting the existing ones already funded by the EU budget.

    More specifically, the report adressed certain recommendations to the EIB :

    1) Strengthening the range of support for SMEs and mid-cap companies: the committee supported the Commission-EIB joint SME Initiative under the new MFF, blending EU funds available under the COSME and Horizon 2020 programmes, with up to EUR 8.5 billion of resources dedicated to the European Structural and Investment Funds (ESIF), in view of generating additional lending to SMEs. It invited the Bank to widen its scope of action and to make use of additional instruments in order to provide viable incentives for generating youth employment, especially in Member States with notoriously high rates of youth unemployment.

    2) The EIB’s contribution to EU external policies: Members emphasised, in particular, the need to maintain support to democratic and economic transitions following the Arab Spring, with specific focus on support for civil society’s components, job creation and economic recovery in the Southern countries and Eastern partner countries.

    3) The EIB’s cooperation with other international financial institutions: the report called on the EIB and the EBRD to engage in the best possible operational coordination in terms of complementarity and division of labour, in order to research systematically the best opportunities and synergies. It called on the Banks to strengthen, their expertise, their strategic and programming approaches in the various fields of intervention.

    4) The EIB’s governance, compliance and control framework, through, inter alia, the development of exhaustive and sound monitoring, reporting and control systems: Members demanded that the next annual report be complemented with a set of cross-cutting performance indicators on the impact of the financing operations for the main domains of EIB interventions, and accentuated the Bank’s responsibility in enhancing the level of transparency in the selection of financial intermediaries and partners for co-financed projects and as regards the final beneficiaries.

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  • body: EC dg: url: http://ec.europa.eu/dgs/economy_finance/index_en.htm title: Economic and Financial Affairs commissioner: REHN Olli
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CONT/7/13185
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2013/2131(INI)
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European Investment Bank (EIB) - Annual report 2012
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Rules of Procedure of the European Parliament EP 048
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Annual report
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8.40.07 European Investment Bank