BETA


2016/2098(INI) Annual report on the control of the financial activities of the EIB for 2015

Progress: Procedure completed

RoleCommitteeRapporteurShadows
Lead CONT ALI Nedzhmi (icon: ALDE ALDE) NOVAKOV Andrey (icon: PPE PPE), PIRINSKI Georgi (icon: S&D S&D), FITTO Raffaele (icon: ECR ECR), FLANAGAN Luke Ming (icon: GUE/NGL GUE/NGL), TARAND Indrek (icon: Verts/ALE Verts/ALE), VALLI Marco (icon: EFDD EFDD)
Committee Opinion REGI JAKOVČIĆ Ivan (icon: ALDE ALDE) Steeve BRIOIS (icon: ENF ENF), Andrew LEWER (icon: ECR ECR), Derek VAUGHAN (icon: S&D S&D)
Lead committee dossier:
Legal Basis:
RoP 54

Events

2017/09/07
   EC - Commission response to text adopted in plenary
Documents
2017/04/27
   EP - Results of vote in Parliament
2017/04/27
   EP - Decision by Parliament, 1st reading/single reading
Details

The European Parliament adopted by 530 votes to 105, with 12 abstentions, a resolution on the annual report on the control of the financial activities of the EIB for 2015.

It made the following recommendations:

Enhancing the sustainability of the EIB’s investment policy : Members noted that EUR 77.5 billion of operations were signed in 2015, out of which EUR 69.7 billion went to EU Member States and EUR 7.8 billion went outside the EU.

While welcoming the EIB’s annual reports for 2015, Parliament called on the EIB to further refine and provide information on the concrete and achieved economic, social and environmental impact, and added value, of its operations in the Member States and outside the EU. Members strongly encouraged the EIB to continue its efforts to overcome investment, market and sectoral gaps and to invest in projects and operations which have real added value.

The EU should in particular:

better anticipate structural challenges , notably those related to Europe’s re-industrialisation and the knowledge-based and digital economy, in order to generate new economic opportunities, innovation, the development of a circular economy and better use of renewables; assess funded projects not only in terms of economic relevance but also with an equally strong focus on environmental and social sustainability; step up the dissemination of their financing possibilities, as well as their support and advice, to increase funding for projects of local and regional authorities and SMEs; take account of the less developed countries and regions given that 73 % of the EIB’s total lending for 2015 is concentrated in six Member States.

Members considered it fundamental that the EIB keep its triple-A rating in order to preserve its access to international capital markets under the best borrowing conditions.

Monitoring the EIB’s impact in the implementation of key public policy areas : Parliament regretted that there is no information provided in the 2015 Annual Report on the EIB operations inside the EU about expected and achieved results from the Bank operations with regard to its two cross-cutting policy objectives, namely climate action and cohesion; is concerned that in 2015 the EIB did not reach the envisaged level of 30 % investments for cohesion (25.2 % achieved inside the EU).

The EIB is called upon to reinstate economic, social and territorial cohesion as a primary public policy goal and to start explicit reporting on its implementation and to continue to define its monitoring indicators, more specifically indicators of additionality.

Funding schemes for SMEs : the EIB’s support to SMEs accounted for approximately 36.6 % of its funding in 2015, triggering a leverage effect of EUR 39.7 billion for SME finance and supporting 5 million jobs.

Parliament welcomed the EIF efforts to make the SME Initiative work. It also welcomed the European Investment Fund’s efforts to make the SME Initiative work currently in six countries (Spain, Italy, Bulgaria, Finland, Romania and Malta), as well as the proposal of the Commission to prolong the SME Initiative until 2020.

The EIB is invited to increase its intervention risk profile , especially when supporting SMEs which are taking risks or evolving in economically disadvantaged regions.

Members also recommended that the EIB should:

continue to support infrastructure agenda based on efficient projects of common interest in the transport and energy sectors with their own resources and by implementing the Debt Financial Instruments under the Connected Europe Facility; continue to pay particular attention to investments in R&D (loans to innovative projects in 2015 amounted to a record level of EUR 18.7 billion); as regards dual-use technologies, the EIB should primarily support those investments that are motivated by their commercialisation in civilian applications; strengthen cooperation with national, regional and local authorities together with National Promotional Banks and Institutions in order to create more synergies between the ESI Funds and EIB financing instruments and loans; focus its climate action on the sustainability of cross-sector projects in the context of the COP21 targets and to support the expansion of renewable energies; continue the development of a market for sustainable green projects , promoting above all the creation of a circular economy, in particular via a green bond market; support EU external policies and emergency response related to the global challenge of migration by including the development aspect.

Monitoring of the EFSI’s added value and additionality : the projects approved to date represent a total of EUR 115.7 billion of investments out of a total of EUR 315 billion of additional investments to be leveraged by the European Strategic Investment Fund (EFSI) through the EIB by 2018. Parliament called on the EIB to pay particular attention to the principle of additionality and to provide relevant qualitative management information on the implementation of the European Funds for Strategic Investment (EFSI) stated objectives.

The EIB is asked to correct the current geographical imbalances within the Union and sectoral concentration of the EFSI’s portfolio, by enhancing its advisory activities for projects development in Member States and by considering expanding the number of sectors eligible for EFSI funding.

Transparency and accountability : according to Parliament, the enhanced economic role of the EIB, its increased investment capacity and the use of the EU budget to guarantee the EIB’s operations must be accompanied by greater transparency and deepened accountability so as to ensure genuine public scrutiny of its activities, project selection and funding priorities.

Documents
2017/04/27
   EP - End of procedure in Parliament
2017/04/26
   EP - Debate in Parliament
2017/04/05
   EP - Committee report tabled for plenary, single reading
Details

The Committee on Budgetary Control adopted an own-initiative report by Nedzhmi ALI (ADLE, BG) on the annual report on the control of the financial activities of the EIB for 2015.

It made the following recommendations:

Enhancing the sustainability of the EIB’s investment policy : while welcoming the EIB’s annual reports for 2015, the report called on the EIB to further refine and provide information on the concrete and achieved economic, social and environmental impact, and added value, of its operations in the Member States and outside the EU.

Members strongly encouraged the EIB to continue its efforts to overcome investment, market and sectoral gaps and to invest in projects and operations which have real added value for achieving greater EU economic, social and territorial cohesion, a stronger investment environment, higher employment and the return of sustainable growth across the EU.

The EU should in particular:

better anticipate structural challenges , notably those related to Europe’s re-industrialisation and the knowledge-based and digital economy, in order to generate new economic opportunities, innovation, the development of a circular economy and better use of renewables; assess funded projects not only in terms of economic relevance but also with an equally strong focus on environmental and social sustainability; step up the dissemination of their financing possibilities, as well as their support and advice, to increase funding for projects of local and regional authorities and SMEs; take account of the less developed countries and regions given that 73 % of the EIB’s total lending for 2015 is concentrated in six Member States.

Members considered it fundamental that the EIB keep its triple-A rating in order to preserve its access to international capital markets under the best borrowing conditions.

Monitoring the EIB’s impact in the implementation of key public policy areas : Members regretted that there is no information provided in the 2015 Annual Report on the EIB operations inside the EU about expected and achieved results from the Bank operations with regard to its two cross-cutting policy objectives, namely climate action and cohesion; is concerned that in 2015 the EIB did not reach the envisaged level of 30 % investments for cohesion (25.2 % achieved inside the EU).

The EIB is called upon to reinstate economic, social and territorial cohesion as a primary public policy goal and to start explicit reporting on its implementation and to continue to define its monitoring indicators, more specifically indicators of additionality.

Funding schemes for SMEs : Members noted that the EIB’s support to SMEs accounted for approximately 36.6 % of its funding in 2015, triggering a leverage effect of EUR 39.7 billion for SME finance and supporting 5 million jobs. They welcomed the EIF efforts to make the SME Initiative work. They also welcomed the European Investment Fund’s efforts to make the SME Initiative work currently in six countries (Spain, Italy, Bulgaria, Finland, Romania and Malta), as well as the proposal of the Commission to prolong the SME Initiative until 2020.

The EIB is invited to increase its intervention risk profile , especially when supporting SMEs which are taking risks or evolving in economically disadvantaged regions.

Members also recommended that the EIB should:

continue to support infrastructure agenda based on efficient projects of common interest in the transport and energy sectors with their own resources and by implementing the Debt Financial Instruments under the Connected Europe Facility; continue to pay particular attention to investments in R&D (loans to innovative projects in 2015 amounted to a record level of EUR 18.7 billion); strengthen cooperation with national, regional and local authorities together with National Promotional Banks and Institutions in order to create more synergies between the ESI Funds and EIB financing instruments and loans; focus its climate action on the sustainability of cross-sector projects in the context of the COP21 targets and to support the expansion of renewable energies; support EU external policies and emergency response related to the global challenge of migration; pay particular attention to the principle of additionality and to provide relevant qualitative management information on the implementation of the European Funds for Strategic Investment (EFSI) stated objectives; the widest possible geographical spread should be considered in the implementation of the EFSI pipeline for the benefit of cohesion and sustainability objective.

Lastly, Members considered that the enhanced economic role of the EIB, its increased investment capacity and the use of the EU budget to guarantee the EIB’s operations must be accompanied by greater transparency and deepened accountability so as to ensure genuine public scrutiny of its activities, project selection and funding priorities.

Documents
2017/03/27
   EP - Vote in committee, 1st reading/single reading
2017/02/07
   EP - Committee opinion
Documents
2017/02/07
   EP - Amendments tabled in committee
Documents
2017/01/03
   EP - Committee draft report
Documents
2016/06/09
   EP - Committee referral announced in Parliament, 1st reading/single reading
2016/06/07
   EP - ALI Nedzhmi (ALDE) appointed as rapporteur in CONT
2016/05/25
   EP - JAKOVČIĆ Ivan (ALDE) appointed as rapporteur in REGI

Documents

Votes

A8-0161/2017 - Nedzhmi Ali - Vote unique

2017/04/27 Outcome: +: 530, -: 105, 0: 12
DE PL FR ES RO HU BE BG GB AT IT CZ SE PT SK FI NL LT LV HR SI DK MT LU IE EE CY EL
Total
80
44
60
45
26
20
21
17
55
16
62
20
20
20
13
12
22
9
8
8
8
9
6
5
9
5
6
20
icon: PPE PPE
195

Denmark PPE

For (1)

1

Luxembourg PPE

2

Estonia PPE

For (1)

1

Cyprus PPE

1
icon: S&D S&D
159

Finland S&D

1

Netherlands S&D

3

Lithuania S&D

1

Latvia S&D

1

Slovenia S&D

For (1)

1

Malta S&D

3

Luxembourg S&D

For (1)

1

Ireland S&D

For (1)

1

Estonia S&D

For (1)

1

Cyprus S&D

2
icon: ALDE ALDE
60

Germany ALDE

2

Romania ALDE

2

United Kingdom ALDE

1

Austria ALDE

For (1)

1

Portugal ALDE

1

Latvia ALDE

1

Croatia ALDE

2

Slovenia ALDE

For (1)

1

Luxembourg ALDE

For (1)

1

Ireland ALDE

For (1)

1

Estonia ALDE

2
icon: ECR ECR
59

Romania ECR

For (1)

1

Bulgaria ECR

2

Italy ECR

2

Czechia ECR

2

Slovakia ECR

Abstain (1)

3
2

Netherlands ECR

For (1)

1

Lithuania ECR

1

Latvia ECR

For (1)

1

Croatia ECR

For (1)

1

Denmark ECR

1

Cyprus ECR

1

Greece ECR

Against (1)

1
icon: Verts/ALE Verts/ALE
48

Hungary Verts/ALE

For (1)

1

Belgium Verts/ALE

2

United Kingdom Verts/ALE

5

Austria Verts/ALE

3

Italy Verts/ALE

For (1)

1

Finland Verts/ALE

For (1)

1

Netherlands Verts/ALE

2

Lithuania Verts/ALE

For (1)

1

Latvia Verts/ALE

1

Croatia Verts/ALE

For (1)

1

Slovenia Verts/ALE

For (1)

1

Luxembourg Verts/ALE

For (1)

1

Estonia Verts/ALE

For (1)

1
icon: NI NI
14

Germany NI

Against (1)

2

Poland NI

Against (1)

1

France NI

1

United Kingdom NI

Against (2)

2
icon: ENF ENF
29

Poland ENF

Against (1)

1

Romania ENF

Against (1)

1

Belgium ENF

Against (1)

1

United Kingdom ENF

Against (1)

1

Netherlands ENF

3
icon: EFDD EFDD
37

Germany EFDD

Against (1)

1

Poland EFDD

1

France EFDD

1

Czechia EFDD

Against (1)

1

Sweden EFDD

2
icon: GUE/NGL GUE/NGL
45

France GUE/NGL

Against (1)

3

United Kingdom GUE/NGL

Abstain (1)

1

Italy GUE/NGL

3

Czechia GUE/NGL

2

Sweden GUE/NGL

Against (1)

1

Finland GUE/NGL

Abstain (1)

1

Netherlands GUE/NGL

3

Denmark GUE/NGL

Against (1)

1

Ireland GUE/NGL

Against (1)

Abstain (2)

3

Cyprus GUE/NGL

2
AmendmentsDossier
262 2016/2098(INI)
2016/12/08 REGI 78 amendments...
source: 595.507
2017/02/07 CONT 184 amendments...
source: 599.624

History

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

committees/0
type
Responsible Committee
body
EP
associated
False
committee_full
Budgetary Control
committee
CONT
rapporteur
name: ALI Nedzhmi date: 2016-06-07T00:00:00 group: Alliance of Liberals and Democrats for Europe abbr: ALDE
shadows
committees/0
type
Responsible Committee
body
EP
associated
False
committee_full
Budgetary Control
committee
CONT
date
2016-06-07T00:00:00
rapporteur
name: ALI Nedzhmi group: Alliance of Liberals and Democrats for Europe abbr: ALDE
shadows
committees/1
type
Committee Opinion
body
EP
associated
False
committee_full
Regional Development
committee
REGI
rapporteur
name: JAKOVČIĆ Ivan date: 2016-05-25T00:00:00 group: Alliance of Liberals and Democrats for Europe abbr: ALDE
committees/1
type
Committee Opinion
body
EP
associated
False
committee_full
Regional Development
committee
REGI
date
2016-05-25T00:00:00
rapporteur
name: JAKOVČIĆ Ivan group: Alliance of Liberals and Democrats for Europe abbr: ALDE
docs/3/body
EC
events/2/docs/0/url
Old
http://www.europarl.europa.eu/sides/getDoc.do?type=REPORT&mode=XML&reference=A8-2017-0161&language=EN
New
http://www.europarl.europa.eu/doceo/document/A-8-2017-0161_EN.html
events/5/docs/0/url
Old
http://www.europarl.europa.eu/sides/getDoc.do?type=TA&language=EN&reference=P8-TA-2017-0138
New
http://www.europarl.europa.eu/doceo/document/TA-8-2017-0138_EN.html
committees/0
type
Responsible Committee
body
EP
associated
False
committee_full
Budgetary Control
committee
CONT
date
2016-06-07T00:00:00
rapporteur
name: ALI Nedzhmi group: Alliance of Liberals and Democrats for Europe abbr: ALDE
shadows
committees/0
type
Responsible Committee
body
EP
associated
False
committee_full
Budgetary Control
committee
CONT
date
2016-06-07T00:00:00
rapporteur
name: ALI Nedzhmi group: Alliance of Liberals and Democrats for Europe abbr: ALDE
shadows
activities
  • date: 2016-06-09T00:00:00 body: EP type: Committee referral announced in Parliament, 1st reading/single reading committees: body: EP shadows: group: EPP name: NOVAKOV Andrey group: S&D name: PIRINSKI Georgi group: ECR name: FITTO Raffaele group: GUE/NGL name: FLANAGAN Luke Ming group: Verts/ALE name: TARAND Indrek group: EFD name: VALLI Marco responsible: True committee: CONT date: 2016-06-07T00:00:00 committee_full: Budgetary Control rapporteur: group: ALDE name: ALI Nedzhmi body: EP responsible: False committee: REGI date: 2016-05-25T00:00:00 committee_full: Regional Development rapporteur: group: ALDE name: JAKOVČIĆ Ivan
  • date: 2017-03-27T00:00:00 body: EP type: Vote in committee, 1st reading/single reading committees: body: EP shadows: group: EPP name: NOVAKOV Andrey group: S&D name: PIRINSKI Georgi group: ECR name: FITTO Raffaele group: GUE/NGL name: FLANAGAN Luke Ming group: Verts/ALE name: TARAND Indrek group: EFD name: VALLI Marco responsible: True committee: CONT date: 2016-06-07T00:00:00 committee_full: Budgetary Control rapporteur: group: ALDE name: ALI Nedzhmi body: EP responsible: False committee: REGI date: 2016-05-25T00:00:00 committee_full: Regional Development rapporteur: group: ALDE name: JAKOVČIĆ Ivan
  • date: 2017-04-05T00:00:00 docs: url: http://www.europarl.europa.eu/sides/getDoc.do?type=REPORT&mode=XML&reference=A8-2017-0161&language=EN type: Committee report tabled for plenary, single reading title: A8-0161/2017 body: EP type: Committee report tabled for plenary, single reading
  • date: 2017-04-26T00:00:00 docs: url: http://www.europarl.europa.eu/sides/getDoc.do?secondRef=TOC&language=EN&reference=20170426&type=CRE type: Debate in Parliament title: Debate in Parliament body: EP type: Debate in Parliament
  • date: 2017-04-27T00:00:00 docs: url: http://www.europarl.europa.eu/sides/getDoc.do?type=TA&language=EN&reference=P8-TA-2017-0138 type: Decision by Parliament, 1st reading/single reading title: T8-0138/2017 body: EP type: Decision by Parliament, 1st reading/single reading
commission
  • body: EC dg: Economic and Financial Affairs commissioner: MOSCOVICI Pierre
committees/0
type
Responsible Committee
body
EP
associated
False
committee_full
Budgetary Control
committee
CONT
date
2016-06-07T00:00:00
rapporteur
name: ALI Nedzhmi group: Alliance of Liberals and Democrats for Europe abbr: ALDE
shadows
committees/0
body
EP
shadows
responsible
True
committee
CONT
date
2016-06-07T00:00:00
committee_full
Budgetary Control
rapporteur
group: ALDE name: ALI Nedzhmi
committees/1
type
Committee Opinion
body
EP
associated
False
committee_full
Regional Development
committee
REGI
date
2016-05-25T00:00:00
rapporteur
name: JAKOVČIĆ Ivan group: Alliance of Liberals and Democrats for Europe abbr: ALDE
committees/1
body
EP
responsible
False
committee
REGI
date
2016-05-25T00:00:00
committee_full
Regional Development
rapporteur
group: ALDE name: JAKOVČIĆ Ivan
docs
  • date: 2017-01-03T00:00:00 docs: url: http://www.europarl.europa.eu/sides/getDoc.do?type=COMPARL&mode=XML&language=EN&reference=PE587.516 title: PE587.516 type: Committee draft report body: EP
  • date: 2017-02-07T00:00:00 docs: url: http://www.europarl.europa.eu/sides/getDoc.do?type=COMPARL&mode=XML&language=EN&reference=PE593.948&secondRef=02 title: PE593.948 committee: REGI type: Committee opinion body: EP
  • date: 2017-02-07T00:00:00 docs: url: http://www.europarl.europa.eu/sides/getDoc.do?type=COMPARL&mode=XML&language=EN&reference=PE599.624 title: PE599.624 type: Amendments tabled in committee body: EP
  • date: 2017-09-07T00:00:00 docs: url: /oeil/spdoc.do?i=29460&j=0&l=en title: SP(2017)472 type: Commission response to text adopted in plenary
events
  • date: 2016-06-09T00:00:00 type: Committee referral announced in Parliament, 1st reading/single reading body: EP
  • date: 2017-03-27T00:00:00 type: Vote in committee, 1st reading/single reading body: EP
  • date: 2017-04-05T00:00:00 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=A8-2017-0161&language=EN title: A8-0161/2017 summary: The Committee on Budgetary Control adopted an own-initiative report by Nedzhmi ALI (ADLE, BG) on the annual report on the control of the financial activities of the EIB for 2015. It made the following recommendations: Enhancing the sustainability of the EIB’s investment policy : while welcoming the EIB’s annual reports for 2015, the report called on the EIB to further refine and provide information on the concrete and achieved economic, social and environmental impact, and added value, of its operations in the Member States and outside the EU. Members strongly encouraged the EIB to continue its efforts to overcome investment, market and sectoral gaps and to invest in projects and operations which have real added value for achieving greater EU economic, social and territorial cohesion, a stronger investment environment, higher employment and the return of sustainable growth across the EU. The EU should in particular: better anticipate structural challenges , notably those related to Europe’s re-industrialisation and the knowledge-based and digital economy, in order to generate new economic opportunities, innovation, the development of a circular economy and better use of renewables; assess funded projects not only in terms of economic relevance but also with an equally strong focus on environmental and social sustainability; step up the dissemination of their financing possibilities, as well as their support and advice, to increase funding for projects of local and regional authorities and SMEs; take account of the less developed countries and regions given that 73 % of the EIB’s total lending for 2015 is concentrated in six Member States. Members considered it fundamental that the EIB keep its triple-A rating in order to preserve its access to international capital markets under the best borrowing conditions. Monitoring the EIB’s impact in the implementation of key public policy areas : Members regretted that there is no information provided in the 2015 Annual Report on the EIB operations inside the EU about expected and achieved results from the Bank operations with regard to its two cross-cutting policy objectives, namely climate action and cohesion; is concerned that in 2015 the EIB did not reach the envisaged level of 30 % investments for cohesion (25.2 % achieved inside the EU). The EIB is called upon to reinstate economic, social and territorial cohesion as a primary public policy goal and to start explicit reporting on its implementation and to continue to define its monitoring indicators, more specifically indicators of additionality. Funding schemes for SMEs : Members noted that the EIB’s support to SMEs accounted for approximately 36.6 % of its funding in 2015, triggering a leverage effect of EUR 39.7 billion for SME finance and supporting 5 million jobs. They welcomed the EIF efforts to make the SME Initiative work. They also welcomed the European Investment Fund’s efforts to make the SME Initiative work currently in six countries (Spain, Italy, Bulgaria, Finland, Romania and Malta), as well as the proposal of the Commission to prolong the SME Initiative until 2020. The EIB is invited to increase its intervention risk profile , especially when supporting SMEs which are taking risks or evolving in economically disadvantaged regions. Members also recommended that the EIB should: continue to support infrastructure agenda based on efficient projects of common interest in the transport and energy sectors with their own resources and by implementing the Debt Financial Instruments under the Connected Europe Facility; continue to pay particular attention to investments in R&D (loans to innovative projects in 2015 amounted to a record level of EUR 18.7 billion); strengthen cooperation with national, regional and local authorities together with National Promotional Banks and Institutions in order to create more synergies between the ESI Funds and EIB financing instruments and loans; focus its climate action on the sustainability of cross-sector projects in the context of the COP21 targets and to support the expansion of renewable energies; support EU external policies and emergency response related to the global challenge of migration; pay particular attention to the principle of additionality and to provide relevant qualitative management information on the implementation of the European Funds for Strategic Investment (EFSI) stated objectives; the widest possible geographical spread should be considered in the implementation of the EFSI pipeline for the benefit of cohesion and sustainability objective. Lastly, Members considered that the enhanced economic role of the EIB, its increased investment capacity and the use of the EU budget to guarantee the EIB’s operations must be accompanied by greater transparency and deepened accountability so as to ensure genuine public scrutiny of its activities, project selection and funding priorities.
  • date: 2017-04-26T00:00:00 type: Debate in Parliament body: EP docs: url: http://www.europarl.europa.eu/sides/getDoc.do?secondRef=TOC&language=EN&reference=20170426&type=CRE title: Debate in Parliament
  • date: 2017-04-27T00:00:00 type: Results of vote in Parliament body: EP docs: url: https://oeil.secure.europarl.europa.eu/oeil/popups/sda.do?id=29460&l=en title: Results of vote in Parliament
  • date: 2017-04-27T00:00:00 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=P8-TA-2017-0138 title: T8-0138/2017 summary: The European Parliament adopted by 530 votes to 105, with 12 abstentions, a resolution on the annual report on the control of the financial activities of the EIB for 2015. It made the following recommendations: Enhancing the sustainability of the EIB’s investment policy : Members noted that EUR 77.5 billion of operations were signed in 2015, out of which EUR 69.7 billion went to EU Member States and EUR 7.8 billion went outside the EU. While welcoming the EIB’s annual reports for 2015, Parliament called on the EIB to further refine and provide information on the concrete and achieved economic, social and environmental impact, and added value, of its operations in the Member States and outside the EU. Members strongly encouraged the EIB to continue its efforts to overcome investment, market and sectoral gaps and to invest in projects and operations which have real added value. The EU should in particular: better anticipate structural challenges , notably those related to Europe’s re-industrialisation and the knowledge-based and digital economy, in order to generate new economic opportunities, innovation, the development of a circular economy and better use of renewables; assess funded projects not only in terms of economic relevance but also with an equally strong focus on environmental and social sustainability; step up the dissemination of their financing possibilities, as well as their support and advice, to increase funding for projects of local and regional authorities and SMEs; take account of the less developed countries and regions given that 73 % of the EIB’s total lending for 2015 is concentrated in six Member States. Members considered it fundamental that the EIB keep its triple-A rating in order to preserve its access to international capital markets under the best borrowing conditions. Monitoring the EIB’s impact in the implementation of key public policy areas : Parliament regretted that there is no information provided in the 2015 Annual Report on the EIB operations inside the EU about expected and achieved results from the Bank operations with regard to its two cross-cutting policy objectives, namely climate action and cohesion; is concerned that in 2015 the EIB did not reach the envisaged level of 30 % investments for cohesion (25.2 % achieved inside the EU). The EIB is called upon to reinstate economic, social and territorial cohesion as a primary public policy goal and to start explicit reporting on its implementation and to continue to define its monitoring indicators, more specifically indicators of additionality. Funding schemes for SMEs : the EIB’s support to SMEs accounted for approximately 36.6 % of its funding in 2015, triggering a leverage effect of EUR 39.7 billion for SME finance and supporting 5 million jobs. Parliament welcomed the EIF efforts to make the SME Initiative work. It also welcomed the European Investment Fund’s efforts to make the SME Initiative work currently in six countries (Spain, Italy, Bulgaria, Finland, Romania and Malta), as well as the proposal of the Commission to prolong the SME Initiative until 2020. The EIB is invited to increase its intervention risk profile , especially when supporting SMEs which are taking risks or evolving in economically disadvantaged regions. Members also recommended that the EIB should: continue to support infrastructure agenda based on efficient projects of common interest in the transport and energy sectors with their own resources and by implementing the Debt Financial Instruments under the Connected Europe Facility; continue to pay particular attention to investments in R&D (loans to innovative projects in 2015 amounted to a record level of EUR 18.7 billion); as regards dual-use technologies, the EIB should primarily support those investments that are motivated by their commercialisation in civilian applications; strengthen cooperation with national, regional and local authorities together with National Promotional Banks and Institutions in order to create more synergies between the ESI Funds and EIB financing instruments and loans; focus its climate action on the sustainability of cross-sector projects in the context of the COP21 targets and to support the expansion of renewable energies; continue the development of a market for sustainable green projects , promoting above all the creation of a circular economy, in particular via a green bond market; support EU external policies and emergency response related to the global challenge of migration by including the development aspect. Monitoring of the EFSI’s added value and additionality : the projects approved to date represent a total of EUR 115.7 billion of investments out of a total of EUR 315 billion of additional investments to be leveraged by the European Strategic Investment Fund (EFSI) through the EIB by 2018. Parliament called on the EIB to pay particular attention to the principle of additionality and to provide relevant qualitative management information on the implementation of the European Funds for Strategic Investment (EFSI) stated objectives. The EIB is asked to correct the current geographical imbalances within the Union and sectoral concentration of the EFSI’s portfolio, by enhancing its advisory activities for projects development in Member States and by considering expanding the number of sectors eligible for EFSI funding. Transparency and accountability : according to Parliament, the enhanced economic role of the EIB, its increased investment capacity and the use of the EU budget to guarantee the EIB’s operations must be accompanied by greater transparency and deepened accountability so as to ensure genuine public scrutiny of its activities, project selection and funding priorities.
  • date: 2017-04-27T00:00:00 type: End of procedure in Parliament body: EP
links
other
  • body: EC dg: url: http://ec.europa.eu/info/departments/economic-and-financial-affairs_en title: Economic and Financial Affairs commissioner: MOSCOVICI Pierre
procedure/Modified legal basis
Old
Rules of Procedure of the European Parliament EP 150
New
Rules of Procedure EP 159
procedure/dossier_of_the_committee
Old
CONT/8/06693
New
  • CONT/8/06693
procedure/legal_basis/0
Rules of Procedure EP 54
procedure/legal_basis/0
Rules of Procedure of the European Parliament EP 052
procedure/subject
Old
  • 8.40.07 European Investment Bank
  • 8.70.03 Budgetary control and discharge, implementation of the budget
New
8.40.07
European Investment Bank (EIB)
8.70.03
Budgetary control and discharge, implementation of the budget
activities/4/docs
  • url: http://www.europarl.europa.eu/sides/getDoc.do?type=TA&language=EN&reference=P8-TA-2017-0138 type: Decision by Parliament, 1st reading/single reading title: T8-0138/2017
activities/4/type
Old
Vote scheduled
New
Decision by Parliament, 1st reading/single reading
procedure/stage_reached
Old
Awaiting Parliament 1st reading / single reading / budget 1st stage
New
Procedure completed
activities/3
date
2017-04-26T00:00:00
docs
url: http://www.europarl.europa.eu/sides/getDoc.do?secondRef=TOC&language=EN&reference=20170426&type=CRE type: Debate in Parliament title: Debate in Parliament
body
EP
type
Debate in Parliament
activities/4/type
Old
Debate in plenary scheduled
New
Vote scheduled
activities/2/docs/0/text
  • The Committee on Budgetary Control adopted an own-initiative report by Nedzhmi ALI (ADLE, BG) on the annual report on the control of the financial activities of the EIB for 2015.

    It made the following recommendations:

    Enhancing the sustainability of the EIB’s investment policy: while welcoming the EIB’s annual reports for 2015, the report called on the EIB to further refine and provide information on the concrete and achieved economic, social and environmental impact, and added value, of its operations in the Member States and outside the EU.

    Members strongly encouraged the EIB to continue its efforts to overcome investment, market and sectoral gaps and to invest in projects and operations which have real added value for achieving greater EU economic, social and territorial cohesion, a stronger investment environment, higher employment and the return of sustainable growth across the EU.

    The EU should in particular:

    • better anticipate structural challenges, notably those related to Europe’s re-industrialisation and the knowledge-based and digital economy, in order to generate new economic opportunities, innovation, the development of a circular economy and better use of renewables;
    • assess funded projects not only in terms of economic relevance but also with an equally strong focus on environmental and social sustainability;
    • step up the dissemination of their financing possibilities, as well as their support and advice, to increase funding for projects of local and regional authorities and SMEs;
    • take account of the less developed countries and regions given that 73 % of the EIB’s total lending for 2015 is concentrated in six Member States.

    Members considered it fundamental that the EIB keep its triple-A rating in order to preserve its access to international capital markets under the best borrowing conditions.

    Monitoring the EIB’s impact in the implementation of key public policy areas: Members regretted that there is no information provided in the 2015 Annual Report on the EIB operations inside the EU about expected and achieved results from the Bank operations with regard to its two cross-cutting policy objectives, namely climate action and cohesion; is concerned that in 2015 the EIB did not reach the envisaged level of 30 % investments for cohesion (25.2 % achieved inside the EU).

    The EIB is called upon to reinstate economic, social and territorial cohesion as a primary public policy goal and to start explicit reporting on its implementation and to continue to define its monitoring indicators, more specifically indicators of additionality.

    Funding schemes for SMEs: Members noted that the EIB’s support to SMEs accounted for approximately 36.6 % of its funding in 2015, triggering a leverage effect of EUR 39.7 billion for SME finance and supporting 5 million jobs. They welcomed the EIF efforts to make the SME Initiative work. They also welcomed the European Investment Fund’s efforts to make the SME Initiative work currently in six countries (Spain, Italy, Bulgaria, Finland, Romania and Malta), as well as the proposal of the Commission to prolong the SME Initiative until 2020.

    The EIB is invited to increase its intervention risk profile, especially when supporting SMEs which are taking risks or evolving in economically disadvantaged regions.

    Members also recommended that the EIB should:

    • continue to support infrastructure agenda based on efficient projects of common interest in the transport and energy sectors with their own resources and by implementing the Debt Financial Instruments under the Connected Europe Facility;
    • continue to pay particular attention to investments in R&D (loans to innovative projects in 2015 amounted to a record level of EUR 18.7 billion);
    • strengthen cooperation with national, regional and local authorities together with National Promotional Banks and Institutions in order to create more synergies between the ESI Funds and EIB financing instruments and loans;
    • focus its climate action on the sustainability of cross-sector projects in the context of the COP21 targets and to support the expansion of renewable energies;
    • support EU external policies and emergency response related to the global challenge of migration;
    • pay particular attention to the principle of additionality and to provide relevant qualitative management information on the implementation of the European Funds for Strategic Investment (EFSI) stated objectives; the widest possible geographical spread should be considered in the implementation of the EFSI pipeline for the benefit of cohesion and sustainability objective.

    Lastly, Members considered that the enhanced economic role of the EIB, its increased investment capacity and the use of the EU budget to guarantee the EIB’s operations must be accompanied by greater transparency and deepened accountability so as to ensure genuine public scrutiny of its activities, project selection and funding priorities.

activities/2/docs
  • url: http://www.europarl.europa.eu/sides/getDoc.do?type=REPORT&mode=XML&reference=A8-2017-0161&language=EN type: Committee report tabled for plenary, single reading title: A8-0161/2017
activities/2
date
2017-04-05T00:00:00
body
EP
type
Committee report tabled for plenary, single reading
procedure/stage_reached
Old
Awaiting committee decision
New
Awaiting Parliament 1st reading / single reading / budget 1st stage
activities/2/type
Old
Indicative plenary sitting date, 1st reading/single reading
New
Debate in plenary scheduled
activities/1
date
2017-03-27T00:00:00
body
EP
type
Vote in committee, 1st reading/single reading
committees
procedure/Modified legal basis
Rules of Procedure of the European Parliament EP 150
activities/1
date
2017-03-27T00:00:00
body
EP
type
Vote scheduled in committee, 1st reading/single reading
activities/1/date
Old
2017-02-28T00:00:00
New
2017-03-27T00:00:00
activities/2/date
Old
2017-04-03T00:00:00
New
2017-04-27T00:00:00
other/0/dg/url
Old
http://ec.europa.eu/dgs/economy_finance/index_en.htm
New
http://ec.europa.eu/info/departments/economic-and-financial-affairs_en
activities/2
date
2017-04-03T00:00:00
body
EP
type
Indicative plenary sitting date, 1st reading/single reading
activities/0/committees/0/shadows/1
group
S&D
name
PIRINSKI Georgi
activities/0/committees/0/shadows/2
group
ECR
name
FITTO Raffaele
activities/0/committees/0/shadows/3
group
GUE/NGL
name
FLANAGAN Luke Ming
activities/0/committees/0/shadows/4
group
Verts/ALE
name
TARAND Indrek
committees/0/shadows/1
group
S&D
name
PIRINSKI Georgi
committees/0/shadows/2
group
ECR
name
FITTO Raffaele
committees/0/shadows/3
group
GUE/NGL
name
FLANAGAN Luke Ming
committees/0/shadows/4
group
Verts/ALE
name
TARAND Indrek
activities/1
date
2017-02-28T00:00:00
body
EP
type
Vote scheduled in committee, 1st reading/single reading
activities/0/committees/0/shadows/1
group
EFD
name
VALLI Marco
committees/0/shadows/1
group
EFD
name
VALLI Marco
activities/0/committees/0/shadows
  • group: EPP name: NOVAKOV Andrey
committees/0/shadows
  • group: EPP name: NOVAKOV Andrey
activities/0
date
2016-06-09T00:00:00
body
EP
type
Committee referral announced in Parliament, 1st reading/single reading
committees
procedure/dossier_of_the_committee
CONT/8/06693
procedure/stage_reached
Old
Preparatory phase in Parliament
New
Awaiting committee decision
other/0
body
EC
dg
commissioner
MOSCOVICI Pierre
activities
    committees
    • body: EP responsible: True committee: CONT date: 2016-06-07T00:00:00 committee_full: Budgetary Control rapporteur: group: ALDE name: ALI Nedzhmi
    • body: EP responsible: False committee: REGI date: 2016-05-25T00:00:00 committee_full: Regional Development rapporteur: group: ALDE name: JAKOVČIĆ Ivan
    links
    other
      procedure
      reference
      2016/2098(INI)
      title
      Annual report on the control of the financial activities of the EIB for 2015
      legal_basis
      Rules of Procedure of the European Parliament EP 052
      stage_reached
      Preparatory phase in Parliament
      subtype
      Annual report
      type
      INI - Own-initiative procedure
      subject