Awaiting committee decision
2016/2098(INI) Annual report on the control of the financial activities of the EIB for 2015
Next event: Vote scheduled in committee, 1st reading/single reading 2017/02/28
Lead committee dossier: CONT/8/06693
Legal Basis RoP 052
Next event: Vote scheduled in committee, 1st reading/single reading 2017/02/28
Role | Committee | Rapporteur | Shadows |
---|---|---|---|
Lead | CONT | ALI Nedzhmi (ALDE) | NOVAKOV Andrey (EPP), PIRINSKI Georgi (S&D), FITTO Raffaele (ECR), FLANAGAN Luke Ming (GUE/NGL), TARAND Indrek (Verts/ALE), VALLI Marco (EFD) |
Opinion | REGI | JAKOVČIĆ Ivan (ALDE) |
Legal Basis RoP 052
Subjects
Activites
-
2017/02/28
Vote scheduled in committee, 1st reading/single reading
-
2016/06/09
Committee referral announced in Parliament, 1st reading/single reading
Documents
Amendments | Dossier |
78 |
2016/2098(INI)
2016/12/08
REGI
78 amendments...
Amendment 1 #
Draft opinion Paragraph 1 1. Takes note of the signature by the EIB in 2015 of EUR 77.5 billion (of which EUR 69.7 billion within and EUR 7.8 billion outside the Union) in new operations in the areas of innovation, SMEs, infrastructure and environment, as well as support for refugee housing and investment in regions affected by the refugee crisis;
Amendment 10 #
Draft opinion Paragraph 1 f (new) 1f. Is extremely concerned at the fact that the EIB is looking into the possibility of funding the Turin-Lyon high-speed rail link under the EFSI, despite this major project being excessively costly, unnecessary and economically, socially and environmentally unsustainable;
Amendment 11 #
Draft opinion Paragraph 2 Amendment 12 #
Draft opinion Paragraph 2 2. A
Amendment 13 #
Draft opinion Paragraph 2 2. Acknowledges that the major EIB shareholders, i.e. Germany, France, the UK, Italy and Spain, received more than 50 % of financing in 2015, while the new Member States received less than 20 %;
Amendment 14 #
Draft opinion Paragraph 2 2. Acknowledges that the major EIB shareholders,
Amendment 15 #
Draft opinion Paragraph 2 2. Acknowledges that the major EIB shareholders, i.e. Germany, France, the UK, Italy and Spain, received more than 50 % of financing in 2015, while the new Member States received less than 20 %; recognises that this financial share represents roughly the size in population of the major shareholders countries; asks the EIB and the Commission to provide more technical assistance to those Member States
Amendment 16 #
Draft opinion Paragraph 2 2. Acknowledges that the major EIB shareholders
Amendment 17 #
Draft opinion Paragraph 2 2.
Amendment 18 #
Draft opinion Paragraph 2 2. Acknowledges that the major EIB shareholders, i.e. Germany, France, the UK, Italy and Spain, received more than 50 % of financing in 2015, while the new Member States received less than 20 %; asks the EIB and the Commission to examine the reasons of this disproportion and, where appropriate, to provide more technical assistance to those Member States having a lower share in total EIB financing in particular in the fields of advisory and analytical services and capacity building activities;
Amendment 19 #
Draft opinion Paragraph 2 2. Acknowledges that the major EIB shareholders, i.e. Germany, France, the UK, Italy and Spain, received more than 50 % of financing in 2015, while the new Member States received less than 20 %; asks the EIB and the Commission to provide more technical assistance to those Member States having a lower share in total EIB financing; points out that the concentration of investments in certain areas is contributing even more to the widening gap between regions;
Amendment 2 #
Draft opinion Paragraph 1 1. Takes note of the signature by the EIB in 2015 of EUR 77.5 billion (of which EUR 69.7 billion within and EUR 7.8 billion outside the Union) in new operations in the areas of innovation, SMEs, infrastructure and environment
Amendment 20 #
Draft opinion Paragraph 2 2. Acknowledges that the major EIB shareholders, i.e. Germany, France, the UK, Italy and Spain, received more than 50 % of financing in 2015, while the new Member States received less than 20 %; asks the EIB and the Commission to provide more technical assistance to those Member States having a lower share in total EIB financing in order to ensure the geographically balanced allocation of financing;
Amendment 21 #
Draft opinion Paragraph 3 3.
Amendment 22 #
Draft opinion Paragraph 3 3.
Amendment 23 #
Draft opinion Paragraph 3 3.
Amendment 24 #
Draft opinion Paragraph 3 3. Welcomes the level of financing of the objectives of economic and social cohesion (EUR 17 634 billion) and rural and urban regeneration (EUR 5 467 billion); emphasises the importance of maintaining a regular dialogue with the managing authorities to establish synergies and complementarity between both instruments;
Amendment 25 #
Draft opinion Paragraph 3 3. Welcomes the level of financing of the objectives of economic and social cohesion (EUR 17 634 billion) and rural and urban regeneration (EUR 5 467 billion); regards that funding as an essential complement to cohesion policy and the European Structural and Investment Funds (ESFIs);
Amendment 26 #
Draft opinion Paragraph 3 3. Welcomes the level of financing of the objectives of economic and social cohesion (EUR 17 634 billion) and rural and urban regeneration (EUR 5 467 billion), and recommends that it be maintained;
Amendment 27 #
Draft opinion Paragraph 4 4. Recognises that the quality of the loan portfolio remains high thanks to the prudent risk management policies pursued;
Amendment 28 #
Draft opinion Paragraph 4 4. Recognises that the quality of the loan portfolio remains high thanks to the prudent risk management policies pursued;
Amendment 29 #
Draft opinion Paragraph 4 4. Re
Amendment 3 #
Draft opinion Paragraph 1 a (new) 1a. Deplores the fact that the list of projects selected for funding under the EFSI includes infrastructure with a high environmental impact and dubious additionality, such as steelworks, biorefineries, petrochemical plants and regasification and gas storage facilities; criticises the fact that in many cases the EIB has failed to take action on reports from local authorities, stakeholder communities and civil society groups of environmental and social legislation being breached by funding recipients and by the projects financed, claiming that it was not its responsibility to carry out the necessary investigations; calls on the EIB, with reference to the precautionary principle, to withdraw funding wherever there is any suspicion of environmental infringements and damage to society or to local communities;
Amendment 30 #
Draft opinion Paragraph 4 4. Recognises that the quality of the loan portfolio remains high thanks to the prudent risk management policies pursued;
Amendment 31 #
Draft opinion Paragraph 4 4. Recognises that the quality of the loan portfolio remains high thanks to the prudent risk management policies pursued; requests the EIB, however, to increase its risk appetite, thus ensuring a wider and more effective economic impact, while maintaining a high loan portfolio level;
Amendment 32 #
Draft opinion Paragraph 4 4. Recognises that the quality of the loan portfolio remains high thanks to the prudent risk management policies pursued; requests the EIB, however, to increase its risk appetite while maintaining a high loan portfolio level, including by means of arrangements for ever-closer coordination with national bodies that underwrite preferential loans for investment programmes that are in keeping with the development objectives promoted by the EIB;
Amendment 33 #
Draft opinion Paragraph 5 5. Calls on the EIB and the Commission and on local and regional authorities to strengthen their cooperation in order to create more synergies between the ESI Funds and EIB financing instruments and loans;
Amendment 34 #
Draft opinion Paragraph 5 5. Calls on the EIB and the Commission to strengthen their cooperation in order to create more synergies between the ESI Funds and EIB financing instruments and loans as well as to reduce the administrative burdens, enhance simplified procedures and increase the administrative capacity;
Amendment 35 #
Draft opinion Paragraph 5 5. Calls on the EIB and the Commission to strengthen their cooperation in order to create more synergies between the ESI Funds and EIB financing instruments and loans; Considers that little information is available with regard to the blending activities of the EIB in Cohesion Policy projects and programmes; Requests the EIB to honour its role as public institution and pursue highest ambition in relation to accountability, transparency and visibility to avoid ambiguity;
Amendment 36 #
Draft opinion Paragraph 5 5. Calls on the EIB and the Commission to strengthen their cooperation in order to create more synergies between the ESI Funds and EIB financing instruments and loans; urges the EIB to strengthen its dialogue with Member States' national legislatures, bureaucracies and local authorities to improve understanding of how ESI funds and EIB financing - through schemes such as EFSI - can deliver projects as seamlessly as possible;
Amendment 37 #
Draft opinion Paragraph 5 a (new) 5a. Deplores the involvement of the EIB in large-scale infrastructure projects with a serious environmental impact and lacking in real added economic and social value for the local population; calls on the EIB to finance only those projects whose implementation is not environmentally, financially or socially controversial, as demonstrated by a thorough prior assessment and an adequate cost-benefit analysis;
Amendment 38 #
Draft opinion Paragraph 5 a (new) 5a. Underlines that the increased use of financial instruments in cohesion policy requires stronger involvement of the European Parliament in scrutinising the EIB's activities also to allow for better assessing the implications and consequences of the EIB's role;
Amendment 39 #
Draft opinion Paragraph 5 b (new) 5b. Is of the opinion that the EIB should take special care to ensure the reliability and maximum transparency of the network of financial intermediaries, checking that they are not involved in tax avoidance or abuse, corruption, money laundering, organised crime or terrorism, and that they are in a position to finance SMEs in an effective way and in accordance with EU environmental and social standards;
Amendment 4 #
Draft opinion Paragraph 1 a (new) 1a. Calls for European Investment Bank funding to be wholly used in the EU Member States and for it not to be used to finance reception facilities for illegal migrants; recalls that our fellow citizens, and in particular young people, are currently suffering mass unemployment, casualisation of the labour market and rising social inequalities, and that consequently they shall be the sole beneficiaries of EU funds;
Amendment 40 #
Draft opinion Paragraph 6 Amendment 41 #
Draft opinion Paragraph 6 6.
Amendment 42 #
Draft opinion Paragraph 6 6. Is concerned that the SME Initiative
Amendment 43 #
Draft opinion Paragraph 6 6.
Amendment 44 #
Draft opinion Paragraph 6 6. Is concerned that the SME Initiative is not delivering as planned; notes with concern the very opaque structure of the indirect financing operations for SMEs and the fact that they are carried out through speculative investment funds, which are geared towards maximum short-term profit but are entirely at odds with the objective of supporting the real economy and the SMEs themselves; points out that more effective, direct, and transparent funding mechanisms should therefore be identified;
Amendment 45 #
Draft opinion Paragraph 6 6. Is concerned that the SME Initiative is not delivering as planned and recognises that the economic and financial crisis and its impact on traditional credit systems as well as existing financial and non- financial barriers resulted in a lack of investment which has undermined the full growth potential of the European economy and jeopardised the development potential of micro, small and medium- sized enterprises;
Amendment 46 #
Draft opinion Paragraph 6 6. Is concerned that the SME Initiative is not delivering as planned; calls on the EIF to publish a report detailing the programme's successes and failures; urges the EIF to extend the programme beyond the original four nations only if its operation within these countries demonstrates a clear return on investment and scalability to widely different markets across the EU;
Amendment 47 #
Draft opinion Paragraph 6 6. Is concerned that the SME Initiative is not delivering as planned; calls on the Member States to implement the SME Initiative on a wider scale, bearing in mind that it has the capacity to reduce the risk for financial intermediaries;
Amendment 48 #
Draft opinion Paragraph 6 6. Is concerned that the SME Initiative is not delivering as planned and calls on the EIB to monitor and improve the use of the instrument of securitisation to facilitate access to credit for SMEs in particular;
Amendment 49 #
Draft opinion Paragraph 6 a (new) 6a. Deplores the fact that the EIB’s transparency policy is still seriously lacking when compared to those of other international institutions, as confirmed by the 2016 Aid Transparency Index; calls on the EIB to publish on its website the disaggregated statistical data relating to each project funded inside and outside the EU, including, in particular, lending operations implemented through financial intermediaries, and to make fully accessible the results of the ex-ante and ex-post impact assessments for each of its projects, with a detailed explanation of the indicators and the selection and evaluation criteria used; calls on the EIB once again to ensure regular publication of the minutes of the meetings of its management and governing bodies;
Amendment 5 #
Draft opinion Paragraph 1 a (new) 1a. Acknowledges the important role played by EIB funding at a time of serious economic and financial crisis that is having a serious impact on traditional credit systems;
Amendment 50 #
Draft opinion Paragraph 6 a (new) 6a. Welcomes the EIF efforts to make the SME initiative work in currently six countries (Spain, Italy, Bulgaria, Finland, Romania, Malta) which are expected to benefit from about 8.5bn of new SME loans at favourable terms; appreciates therefore the proposal of the EC to prolong the SME initiative until 2020;
Amendment 51 #
Draft opinion Paragraph 6 b (new) 6b. Calls on the EIB to ensure public access to documents concerning internal investigations, reports and audits, particularly when they relate to issues of public interest or projects in which tax abuse or fraud and corruption have been identified, and to make all information fully accessible to Parliament;
Amendment 52 #
Draft opinion Paragraph 7 7. Requests the Member States to make full use of their allocation of ESI Funds and additionality, thus complementing EIB loans and financial instruments; asks,
Amendment 53 #
Draft opinion Paragraph 7 7. Requests the Member States to make full use of their allocation of ESI
Amendment 54 #
Draft opinion Paragraph 7 7. Requests the Member States to make full use of their allocation of ESI Funds and additionality, thus complementing EIB loans and financial instruments; asks, moreover, for greater blending of grants with EIB financing; calls on the EIB to refrain from financing in any way projects infiltrated by criminal groups and to put funding for such projects on hold as a precautionary measure while investigations are under way;
Amendment 55 #
Draft opinion Paragraph 7 7. Requests the Member States to make full use of their allocation of ESI Funds and additionality, thus complementing EIB loans and financial instruments; asks, moreover, for greater blending of grants with EIB financing
Amendment 56 #
Draft opinion Paragraph 7 a (new) 7a. Underlines that EIB lending is a relevant contribution to cohesion policy spending, whereas insufficient evidence is available on its impact and efficiency towards EU objectives and priorities; Considers, therefore, that ongoing monitoring and evaluation would increase the legitimacy of EIB lending activities;
Amendment 57 #
Draft opinion Paragraph 7 a (new) 7a. Calls on the Commission to establish a permanent European Guarantee Platform under EFSI to ease SME access to finance, and to improve the development of guarantees and lending products based on European guarantees;
Amendment 58 #
Draft opinion Paragraph 8 8. Calls on the EIB to increase its share of financing of economic and social cohesion
Amendment 59 #
Draft opinion Paragraph 8 8. Calls on the EIB to increase its financing of economic and social cohesion as well as of the urban objectives;
Amendment 6 #
Draft opinion Paragraph 1 b (new) 1b. Notes that the considerable EFSI support being provided for energy, energy efficiency and renewable energy projects has been made possible only by cutting ordinary EIB investment in those sectors by an equal amount, thus suggesting that the majority of EFSI loans have not complied with the principle of additionality; takes the view that EFSI- funded loans should be additional to ordinary EIB investment;
Amendment 60 #
Draft opinion Paragraph 8 8. Calls on the EIB to increase its financing of economic and social cohesion as well as of the urban objectives; calls, moreover, for the development of special financial instruments
Amendment 61 #
Draft opinion Paragraph 8 8. Calls on the EIB to increase immediately its financing of economic and social cohesion as well as of the urban objectives;
Amendment 62 #
Draft opinion Paragraph 8 8. Calls on the EIB to increase its financing of economic and social cohesion as well as of the urban objectives; calls, moreover, for the development of special financial instruments for macroregional strategies; stresses the importance of ensuring the efficient and responsible management of resources, with the aim of safeguarding the bank’s financing capacity for the years to come;
Amendment 63 #
Draft opinion Paragraph 8 8. Calls on the EIB to increase its financing of economic and social cohesion as well as of the urban objectives; calls, moreover, for the development of special financial instruments for macroregional strategies, providing that Member States remain the primary actors in the creation of these instruments and that they are only implemented where they have Member States' approval;
Amendment 64 #
Draft opinion Paragraph 8 8. Calls on the EIB to increase its financing of economic and social cohesion as well as of the urban objectives; calls, moreover, for the development of special financial instruments for macroregional strategies; stresses, likewise, the importance of continuing to support innovative as well as traditional economic sectors in the EU;
Amendment 65 #
Draft opinion Paragraph 8 a (new) 8a. Takes the view that an increase in the EIB’s lending activity could be achieved through a better, more balanced allocation of resources; recalls that public-private partnerships (PPP) for the funding of projects of public interest are often founded on poor distribution of the financial risks of the investment, to the detriment of the public sector and to the sole advantage of the private sector, and may therefore lead to considerable losses for the public coffers, but with no real added value for society;
Amendment 66 #
Draft opinion Paragraph 8 b (new) 8b. Is concerned about the EIB’s readiness to allocate EUR 2 billion to the construction of the final stretch of the TAP (Trans-Adriatic Pipeline); calls on the EIB to refrain from financing in any way this expensive and controversial pipeline as a result of the considerable environmental, financial, seismic, tax and geo-political risks inherent in its construction;
Amendment 67 #
Draft opinion Paragraph 9 Amendment 68 #
Draft opinion Paragraph 9 9. Calls on the EIB and the Commission to
Amendment 69 #
Draft opinion Paragraph 9 9. Calls on the EIB and the Commission to step up the dissemination of their financing possibilities, as well as their provision of support and advice for local and regional authorities and SMEs, in the interests of
Amendment 7 #
Draft opinion Paragraph 1 c (new) 1c. Criticises the fact that less than 20% of the projects given EFSI funding approval focus on research, development and innovation, human capital and the environment and energy efficiency;
Amendment 70 #
Draft opinion Paragraph 9 9. Calls on the EIB and the Commission to step up their provision of support and advice and increase funding for local and regional authorities and SMEs, in the interests of simplifying access to EIB finance and blending grants with loans and financial instruments.
Amendment 71 #
Draft opinion Paragraph 9 9. Calls on the EIB and the Commission to step up their provision of support and advice for local and regional authorities and SMEs, in the interests of simplifying access to EIB finance and blending grants with loans and financial instruments; calls on the Commission to support the drawing-up of training programmes for potential beneficiaries by giving management authorities a more substantial role in providing information, guidance and advice for final beneficiaries.
Amendment 72 #
Draft opinion Paragraph 9 a (new) 9a. Notes the increase in the percentage of loans granted to projects located outside the European Union; while welcoming assistance to developing nations believes that the primary investment target for the EIB should be Europe itself, particularly as the continent continues its recovery from the economic crisis; calls on the EIB to ensure that Europe remains the investment priority particularly when the Commission's External Investment Plan for Africa gets underway;
Amendment 73 #
Draft opinion Paragraph 9 a (new) 9a. Is concerned about the proposal from the Commission to modify the EIB's lending criteria in view of stepping-up investment in the defence industry; Underlines that ESI Funds must first and foremost be oriented towards the objective of reducing regional disparities and pursuing cohesion, while investment into other areas can be legitimized only when directly contributing to these objectives.
Amendment 74 #
Draft opinion Paragraph 9 a (new) 9a. Calls on the European Commission and the European Investment Bank (EIB) to make access to EIB financing simpler for beneficiaries, such as SMEs, that cannot afford the costs involved in complex administrative procedures.
Amendment 75 #
Draft opinion Paragraph 9 a (new) 9a. Likewise considers that there is a need to strengthen cooperation between the Commission, the EIB and local and regional bodies to ensure that the financial instruments are used effectively to boost territorial development and cohesion policies.
Amendment 76 #
Draft opinion Paragraph 9 a (new) 9a. Calls on the EIB to develop a communication policy regarding its activities, including its advisory activities, so that all forms of government and all beneficiaries can have access to its programmes;
Amendment 77 #
Draft opinion Paragraph 9 b (new) 9b. Regrets that the number of impaired loan contracts increased between 2014 and 2015, with total exposure rising by EUR 455 million to EUR 1.41 billion; calls on the Commission to review its risk management and project due diligence procedures to ensure that they are effectively tackling this escalating problem and to provide an update to the European Parliament on progress in 2017.
Amendment 78 #
Draft opinion Paragraph 9 b (new) 9b. Calls on the EIB to step up its cooperation and coordination with the National Promotional Banks and Institutions (NPBIs) in order to blend and implement financial instruments nationally and regionally, also in synergy with the EFSI (European Fund for Strategic Investments).
Amendment 8 #
Draft opinion Paragraph 1 d (new) 1d. Deplores the fact that as much as 15% of all EFSI investment in the energy sector has been channelled into fossil-fuel projects, in particular projects for regasification and gas storage facilities; calls on the EIB to give serious thought to phasing out loans for projects involving the production of non-renewable energy;
Amendment 9 #
Draft opinion Paragraph 1 e (new) 1e. Deplores the almost total lack of information and disaggregated statistics on the projects financed, in particular as regards each individual project’s expected impact, benefits and additionality; calls on the EIB to publish all available information about and findings of impact assessments for operations carried out within the framework of the EFSI; calls also on the EIB to set out in detail the added value and additionality of each individual project financed and the contribution each makes towards the pursuit of the EU’s strategies and long- term objectives;
source: 595.507
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History
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