Awaiting committee decision
2017/2071(INI) Financial activities of the European Investment Bank. Annual report
Next event: Indicative plenary sitting date, 1st reading/single reading 2018/01/15
Lead committee dossier: BUDG/8/09945
Legal Basis RoP 052
Next event: Indicative plenary sitting date, 1st reading/single reading 2018/01/15
Role | Committee | Rapporteur | Shadows |
---|---|---|---|
Lead | BUDG | GARDIAZABAL RUBIAL Eider (S&D) | MUREŞAN Siegfried (EPP), KÖLMEL Bernd (ECR), ALI Nedzhmi (ALDE), NÍ RIADA Liadh (GUE/NGL), ZANNI Marco (ENF) |
Opinion | ECON | NIEDERMAYER Luděk (EPP) | |
Opinion | INTA | ||
Opinion | REGI | MALETIĆ Ivana (EPP) |
Legal Basis RoP 052
Subjects
Activites
-
2018/01/15
Indicative plenary sitting date, 1st reading/single reading
-
2017/05/18
Committee referral announced in Parliament, 1st reading/single reading
Documents
Amendments | Dossier |
104 |
2017/2071(INI)
2017/10/16
ECON
104 amendments...
Amendment 1 #
Draft opinion Paragraph 1 1. Acknowledges the EIB’s contribution to restoring investment activity in the EU after the economic and financial cris
Amendment 10 #
Draft opinion Paragraph 1 c (new) 1c. Calls on the EIB to continue improving the assessment of projects, by using richer, more precise and refined impact indicators;
Amendment 100 #
Draft opinion Paragraph 9 c (new) 9c. Deplores the conditions of the reappointment of the President of the EIB in July 2017 without any clear mandate nor any proper democratic debate; believes that the European Parliament should be involved in this process;
Amendment 101 #
Draft opinion Paragraph 9 c (new) 9c. Asks for a country-by-country reporting without exemptions as a key part of the Corporate Social Responsibility strategy of the EIB and this before the EU adopts legislation in the field;
Amendment 102 #
Draft opinion Paragraph 9 d (new) 9d. Reiterates its call to the Commission to amend European legislation, including those concerning the European Investment Bank (EIB) Statute, the European Fund for Strategic Investment (EFSI) regulation, the four Common Agricultural Policy (CAP) Regulations, and the five European Structural and Investment Funds (European Regional Development Fund, European Social Fund, Cohesion Fund, European Agricultural Fund for Rural Development, European Maritime and Fisheries Fund) to prohibit the use of EU funding going to ultimate beneficiaries or financial intermediaries proven to be involved in tax evasion or aggressive tax planning;
Amendment 103 #
Draft opinion Paragraph 9 e (new) 9e. Urges the EIB group to adopt the review of its whistleblowing policy as soon as possible and to reinforce the independence, legitimacy, accessibility, predictability, equitability and transparency of its Complaints Mechanism, including by involving Directors and enhancing protection of complainants. Believes that such measures are clearly in the interest of the bank, the stakeholders and the EU institutions;
Amendment 104 #
Draft opinion Paragraph 9 f (new) 9f. Recommends that the new European Public Prosecutor's Office (EPPO) examine the possibility of covering EIB operations in the EU Member States concerned as part of its activities;
Amendment 11 #
Draft opinion Paragraph 1 d (new) 1d. In order to keep bioeconomy investments in Europe, demonstration and flagship investment project proposals that have been positively evaluated by the Bio- Based Industries Joint Undertaking (BBI JU) but could not be funded under the BBI JU program because of a lack of available budget, shall be eligible for ‘fast-track’ simplified procedure for EIB funding that would be limited to a financial assessment;
Amendment 12 #
Draft opinion Paragraph 2 2. Stresses the need to
Amendment 13 #
Draft opinion Paragraph 2 2. Stresses the need to minimise the risk of crowding out the private sector by focusing on long-term financing otherwise unavailable to EIB clients on the markets,
Amendment 14 #
Draft opinion Paragraph 2 2. Stresses the need to minimise the risk of crowding out the private sector by focusing on long-term financing otherwise unavailable to EIB clients on the markets, or by greater risk-taking, namely by supporting the financing of projects that would not get financed otherwise; further points out that additionality of EIB financing also consists of providing technical advice and capacity-building in order to help projects to become investment-ready;
Amendment 15 #
Draft opinion Paragraph 2 2. Stresses the need to minimise the risk of crowding out the private sector
Amendment 16 #
Draft opinion Paragraph 2 2. Stresses the need to minimise the risk of crowding out the private sector by focusing on long-term financing otherwise unavailable to EIB clients on the markets, or by greater risk-taking, namely by supporting the financing of projects that would not get financed otherwise, particularly in support for innovative start-ups and SMEs;
Amendment 17 #
Draft opinion Paragraph 2 2. Stresses the need to minimise the risk of crowding out the private sector by focusing on long-term financing otherwise unavailable to EIB clients on the markets, or by greater risk-taking, namely by supporting the financing of projects that would not get financed otherwise in a prudent manner;
Amendment 18 #
Draft opinion Paragraph 2 a (new) 2a. Considers that EIB loans should increase in nominal and real terms every year, at least as far as the investment gap caused by the financial and economic crisis and the policies of fiscal adjustment is not filled;
Amendment 19 #
Draft opinion Paragraph 2 b (new) 2b. Notes that the EIB maintained solid a financial stance, according to the forecast for 2016, with a net annual surplus of EUR 2,8 billion; calls for a share of this profit to be used for financing EU aid programmes;
Amendment 2 #
Draft opinion Paragraph 1 1. Acknowledges the EIB’s contribution to restoring investment activity in the EU after the economic and financial crises; stresses that the EIB’s activities during the current period of recovery and credit availability must be carefully directed towards products and projects, thereby ensuring additionality;
Amendment 20 #
Draft opinion Paragraph 2 c (new) 2c. Notes that the Parliament resolution of 22 November 2016 on the Green Paper on Retail Financial Services, in its paragraph 47, calls on ‘the Commission to put forward a proposal on the creation of an “EU savings account” in order to unlock long-term financing and support ecological transition in Europe'; suggests therefore that the EIB undertakes an study on the viability of creating the said EU savings account, in order to channel individual savings to the EIB for the financing of the circular economy and the ecological transition, bio-based industries and sustainable development;
Amendment 21 #
Draft opinion Paragraph 2 d (new) 2d. Considers that the EIB should continue to prioritise investments in the fight against climate, the circular economy, and bio-economy, and in particular in the recycling industry, renewable energy, sustainable and last generation biofuels that do not crowd out food supply, non-fossil fuel-based alternative transport methods, bio-based industries and biomass, green building, biotechnologies, bioplastics and organic farming;
Amendment 22 #
Draft opinion Paragraph 2 e (new) 2e. Encourages the EIB to, in particular, increase financing to the bio- economy sector, including bio-based industries, biotechnology and the efficient management of natural resources, particularly in crisis-affected Member States and Regions, in partnership with Bio-Based Industries Joint Undertaking (BBI JU), the €3.7 billion Public-Private Partnership on Bio-based Industries between the European Commission and the Bio-based Industries Consortium (BIC);
Amendment 23 #
Draft opinion Paragraph 2 f (new) 2f. Notes with concern that many biotechnological starts ups that exploit EU-financed science move to the United States for lack of private finance and venture capital in Europe; calls on the EIB to offer suitable financing alternatives to the said start-ups;
Amendment 24 #
Draft opinion Paragraph 3 Amendment 25 #
Draft opinion Paragraph 3 3.
Amendment 26 #
Draft opinion Paragraph 3 3. Believes that instead of playing a partly anti-cyclical role, the key priority for the EIB should be to focus on areas where
Amendment 27 #
Draft opinion Paragraph 3 3. Believes that instead of playing a partly anti-cyclical role, the key priority for the EIB should be to focus on areas where markets fail
Amendment 28 #
Draft opinion Paragraph 3 3. Believes that instead of playing a partly anti-cyclical role, the key priority for the EIB should be to focus on areas where markets fail; underlines the need to prioritise innovation-based projects with clear added value for the EU;
Amendment 29 #
Draft opinion Paragraph 3 3. Believes that instead of playing a partly anti-cyclical role, the key priority for the EIB should be to focus on areas where markets fail due to their persistent very short term focus and inability to correctly price long term externalities;
Amendment 3 #
Draft opinion Paragraph 1 1. Acknowledges the EIB’s contribution to restoring investment activity in the EU after the economic and financial crises; stresses that the EIB’s activities during the current period of recovery and credit availability must be carefully directed towards products and projects, thereby ensuring additionality; emphasises that expanding the EIB’s financing activities is no substitute for structural reform and consolidated budgets in the Member States;
Amendment 30 #
Draft opinion Paragraph 3 3. Believes that
Amendment 31 #
Draft opinion Paragraph 3 3. Believes that instead of playing a partly anti-cyclical role,
Amendment 32 #
Draft opinion Paragraph 3 3. Believes that
Amendment 33 #
Draft opinion Paragraph 3 a (new) 3a. Calls on the EIB to continue financial support to indigenous energy sources in order to overcome Europe's high level of external energy dependency and ensure security of supply;
Amendment 34 #
Draft opinion Paragraph 3 a (new) 3a. Calls on the EIB to help Member States to identify fundable projects whenever they call for financial assistance;
Amendment 35 #
Draft opinion Paragraph 3 b (new) 3b. Reminds that more than 90% of EU SMEs are microenterprises providing almost 30% of employment in the private sector; microenterprises are more vulnerable to economic shocks than larger firms and may remain underserved in credit provision; believes that in the domain of access to finance, the EIB could emphasise bridging possible funding gaps for microenterprises through financial instruments and products such as microfinance facilities and guarantees;
Amendment 36 #
Draft opinion Paragraph 4 4. Emphasises that the EIB can play a positive role in reducing the negative public investment gap, but that its activities
Amendment 37 #
Draft opinion Paragraph 4 4. Emphasises that the EIB can play a positive role in reducing the negative public investment gap, but that its activities should not come into conflict with fiscal rules, as fiscal stability is a key precondition for stable and sustainable economic growth; calls on coordination of EIB’s activities in the member states with the governments’ activities, policies and objectives set in National reform programmes as well as in the Country specific recommendations;
Amendment 38 #
Draft opinion Paragraph 4 4. Emphasises that the EIB can play a
Amendment 39 #
Draft opinion Paragraph 4 4. Emphasises that the EIB can play a positive role in reducing the negative public investment gap
Amendment 4 #
Draft opinion Paragraph 1 1.
Amendment 40 #
Draft opinion Paragraph 4 4. Emphasises that the EIB can play a positive role in reducing the negative public investment gap, but that its activities should not come into conflict with fiscal rules, as fiscal stability is a key precondition for stable and sustainable economic growth; emphasises that investment, structural reforms and sound budgetary policies must be part of an overall strategy;
Amendment 41 #
Draft opinion Paragraph 4 4. Emphasises that the EIB can play a positive role in reducing the negative public investment gap
Amendment 42 #
Draft opinion Paragraph 4 4. Emphasises that the EIB
Amendment 43 #
Draft opinion Paragraph 4 4. Emphasises that the EIB can play a positive role in reducing the negative public investment gap
Amendment 44 #
Draft opinion Paragraph 4 4. Emphasises that the EIB
Amendment 45 #
Draft opinion Paragraph 4 a (new) 4a. Calls on the EIB, taking into account the insufficient project generation capacity in the public and private sectors and the lower borrowing capacity in some Member States, and with a view to reducing the investment shortfall in the EU, to consider an approach whereby contributions made on a one-off basis to EIB-funded projects by Member States, whether by a Member State as such or by national promotional banks classified in the general government sector or acting on behalf of a Member State, would qualify as one-off measures within the meaning of Article 5 of Council Regulation (EC) No 1466/971 a and Article 3 of Council Regulation (EC) No 1467/971 b; _________________ 1a Council Regulation (EC) No 1466/97 of 7 July 1997 on the strengthening of the surveillance of budgetary positions and the surveillance and coordination of economic policies 1b Council Regulation (EC) No 1467/97 of 7 July 1997 on speeding up and clarifying the implementation of the excessive deficit procedure
Amendment 46 #
Draft opinion Paragraph 4 a (new) 4a. Underlines that at EU level there are major structural reasons which are increasing the investment gap between Member States; calls on the EIB to boost its technical assistance in order to address low project generation capacity and borrowing capacity in some Member States;
Amendment 47 #
Draft opinion Paragraph 4 a (new) 4a. Considers that the EIB should move towards the development bank model by establishing, among other plans, programme strategies agreed with the Member States and within the framework of the national reform programmes and country-specific recommendations;
Amendment 48 #
Draft opinion Paragraph 4 a (new) 4a. Emphasises the need for investment in projects fostering innovation, in order to create technological progress and achieve sustained growth;
Amendment 49 #
Draft opinion Paragraph 4 b (new) 4b. Points out that it is important to fund projects that intensively use labour to maximise the impact in terms of job creation; Calls on the EIB to provide detailed information on the direct and indirect jobs created by every project funded;
Amendment 5 #
Draft opinion Paragraph 1 1.
Amendment 50 #
Draft opinion Paragraph 4 b (new) 4b. Calls on the EIB to draw up a strategy for remedying the fact that SMEs, when they are based in a country in which the economic and banking context is unfavourable, have difficulties in gaining access to project financing;
Amendment 51 #
Draft opinion Paragraph 5 5. Recalls the high degree of urgency of clarifying the impact of Brexit on the EIB in order for the bank to continue to be able to perform its role;
Amendment 52 #
Draft opinion Paragraph 5 5. Recalls the high degree of urgency of clarifying the impact of Brexit on the EIB in order for the
Amendment 53 #
Draft opinion Paragraph 5 5. Recalls the high degree of urgency of clarifying the impact of Brexit on the EIB in order for the bank to continue to be able to perform its role; underlines in this respect the need to get asap legal certainty around ongoing projects co-financed by the EIB in the UK. Stresses at the same time the importance of getting clarity around the UK contribution in the EIB budget.
Amendment 54 #
Draft opinion Paragraph 5 5. Recalls the high degree of urgency of clarifying the impact of Brexit on the EIB in order for the bank to continue to be able to perform its role; The UK subscribed 16.11% of the EIB’s capital, accounting for EUR 3.5bn of the paid-in capital and EUR 35.7bn of the Bank’s callable capital;
Amendment 55 #
Draft opinion Paragraph 5 5. Recalls the high degree of urgency of clarifying the impact of Brexit on the EIB in order for the bank to continue to be able to perform its role; considers the possibility of allowing non-EU member states to become shareholders of the EIB;
Amendment 56 #
Draft opinion Paragraph 5 5. Recalls the high degree of urgency of clarifying the impact of Brexit on the EIB in order for the bank to continue to be able to perform its role; suggests that Brexit provides an opportunity to reduce the EIB's capital and activities;
Amendment 57 #
Draft opinion Paragraph 5 5. Recalls the high degree of urgency of clarifying the impact of Brexit on the EIB's current budget as well as the future UK economic participation in order for the bank to continue to be able to perform its role;
Amendment 58 #
Draft opinion Paragraph 5 5. Recalls the high degree of urgency
Amendment 59 #
Draft opinion Paragraph 5 a (new) 5a. Welcomes the EIB’s commitment to support the Union's commitments under the Paris Agreement; believes that the review of the EIB’s Energy policy foreseen for 2018 should result in an ambitious action plan to align its investments with the 1.5 degrees target that would significantly reduce risks and the impacts of climate change through the phasing-out of fossil fuel projects and the prioritisation of projects increasing the energy available through renewables and energy efficiency;
Amendment 6 #
Draft opinion Paragraph 1 1. Acknowledges the EIB’s contribution to restoring investment activity in the EU after the economic and financial crises; stresses that the EIB’s activities during the current period of recovery and credit availability must be carefully directed towards pro
Amendment 60 #
Draft opinion Paragraph 5 b (new) 5b. Points out that the EIB has had very mixed results on climate action, even though it just met its 25% target overall; is concerned that in 16 EU Member States, EIB support for climate action did not reach even the level of 20% and that climate action investment in 2016 was predominantly located in the EU’s stronger economies with 70 per cent of EFSI support for renewable energy was concentrated in just one country – Belgium – while 80 per cent of energy efficiency investment through the EFSI was allocated to France, Finland and Germany;
Amendment 61 #
Draft opinion Paragraph 5 c (new) 5c. Calls on the EIB to work with small market participants and community cooperatives to undertake bundling of small scale renewable energy projects to enable them to be eligible for EIB funding;
Amendment 62 #
Draft opinion Paragraph 6 Amendment 63 #
Draft opinion Paragraph 6 6. Calls on the Commission to monitor carefully the cost and efficiency associated with the high number of financially small mandates given to the EIB; takes the view that the administrative cost associated with such a number of mandates
Amendment 64 #
Draft opinion Paragraph 6 6. Calls on the Commission to monitor carefully the cost and efficiency associated with the
Amendment 65 #
Draft opinion Paragraph 6 a (new) 6a. Stresses that the EIB should be more transparent about the projects and countries they finance outside the European Union, in particular in its annual report, and should ensure that all operations are in line with international tax transparency standards, in order to secure that financial activities do not benefit corrupt systems and individuals in third countries.
Amendment 66 #
Draft opinion Paragraph 6 a (new) 6a. Reminds that the EIB should play a fundamental role in the implementation of the Europe 2020 Strategy through the Horizon 2020 instrument;
Amendment 67 #
Draft opinion Paragraph 7 Amendment 68 #
Draft opinion Paragraph 7 7. Stresses the need for the EIB to prioritise external operations so that its activities especially focus on areas of high importance for the EU;
Amendment 69 #
Draft opinion Paragraph 7 7. Stresses the need for the EIB to
Amendment 7 #
Draft opinion Paragraph 1 1. Acknowledges the EIB’s contribution to restoring investment activity in the EU after the economic and financial crises; stresses that the EIB’s activities during the current period of recovery and credit availability in some countries and sectors must be carefully directed towards products and projects, thereby ensuring additionality, while addressing underlying investment gaps;
Amendment 70 #
Draft opinion Paragraph 7 7. Stresses the need for the EIB to prioritise external operations so that its activities especially focus on geographical and sectoral areas of high importance for the EU
Amendment 71 #
Draft opinion Paragraph 7 7. Stresses the need for the EIB to prioritise external operations so that its activities especially focus on areas of high importance for the EU; highlights in this respect the expansion of the EIB's External Lending Mandate (ELM) to step up activities in pre-accession countries, southern neighbourhood, Mediterranean region, Latin America and Asia. Highlights furthermore the great potential for EIB operations to improve the economic situation in Ukraine, which is facing great economic stress and instability due to the on-going armed conflict in Eastern Ukraine, with the direct and indirect participation of Russian military and security services;
Amendment 72 #
Draft opinion Paragraph 7 7. Stresses the need for the EIB to prioritise external operations so that its activities especially focus on areas of high importance for the EU; highlights the great potential for EIB operations to improve the economic situation in Ukraine, which is facing great economic stress and instability due to the ongoing armed conflict in Eastern Ukraine, with the direct and indirect participation of Russian military and security services; stresses that more EIB’s activities are needed in southeast Europe in order to increase level of investment and support accession process;
Amendment 73 #
Draft opinion Paragraph 7 7. Stresses the need for the EIB to prioritise external operations so that its activities especially focus on areas of high importance for the EU; highlights the great potential for EIB operations to improve the economic situation in
Amendment 74 #
Draft opinion Paragraph 7 7. Stresses the need for the EIB to prioritise external operations so that its activities especially focus on areas of high importance for the EU; highlights the great potential for EIB operations to improve the economic situation in
Amendment 75 #
Draft opinion Paragraph 7 a (new) 7a. Regrets that under the new Resilience Initiative the EIB will increase lending by EUR 6 billion to catalyse up to EUR 15 billion in additional investment for the Western Balkan and southern Mediterranean regions over the next four and a half years in addition to the EUR 7.5 billion lending already envisaged in the two regions;
Amendment 76 #
Draft opinion Paragraph 7 a (new) 7a. Welcomes the Council conclusions of October 10th 2017 on climate finance1a; highlights the importance of scaling up the availability of capital for green and sustainable investments; believes the EIB should make it a top priority; _________________ 1ahttp://www.consilium.europa.eu/press- releases-pdf/2017/10/47244665508_en.pdf
Amendment 77 #
Draft opinion Paragraph 7 a (new) 7a. Calls for an increase in financial assistance for projects that have a positive impact on refugees and other migrants, and that are located in Member States that receive the largest flows of refugees and migrants;
Amendment 78 #
Draft opinion Paragraph 7 b (new) 7b. Believes the EIB should support the timely implementation of the Paris Agreement along with the 2030 Agenda for Sustainable Development;
Amendment 79 #
Draft opinion Paragraph 7 c (new) Amendment 8 #
Draft opinion Paragraph 1 a (new) 1a. Welcomes that, according to the 28 September 2017 EIB Economics Departments brief, the cumulative investments approved by the EIB Group in 2015 and 2016 will add 2.3 % to the EU GDP by 2020 and will add 2.25 million jobs, which shows the substantial macroeconomic impact of the EIB;
Amendment 80 #
Draft opinion Paragraph 7 d (new) 7d. Recalls that the EU list of non- cooperative jurisdictions in taxation matters will be release by the end of 2017; believes that as soon as a country appears on this list, the EIB should freeze its cooperation with it;
Amendment 81 #
Draft opinion Paragraph 7 e (new) 7e. Highlights the EU list of high risk third countries in the field of money laundering; believes that as soon as a country appears on this list, the EIB should freeze its cooperation with it;
Amendment 82 #
Draft opinion Paragraph 7 f (new) 7f. Calls on the EIB to take into account the local context when investing in third countries; recalls that investing in third countries cannot be based only on a profit maximisation approach but also aim at generating long-term private sector-led sustainable economic growth and reduce poverty through job creations and improved access to productive resources; believes that the choice of financial intermediaries should be stricter in this regard;
Amendment 83 #
Draft opinion Paragraph 7 g (new) Amendment 84 #
Draft opinion Paragraph 7 h (new) 7h. Notes that out of 120 cases reported to the Fraud Investigations Division of the Inspectorate General (IG/IN) in 2016, 53% were referred by EIB Group staff; welcomes the fact that the fraud reporting mechanism on the EIB’s website is now available in 30 languages1a; believes that the EIB should follow carefully the ongoing work on the protection of whistle-blowers at EU level and consequently further improve its reporting possibilities; _________________ 1a http://www.eib.org/attachments/general/re ports/ig_fraud_investigations_activity_rep ort_2016_en.pdf
Amendment 85 #
Draft opinion Paragraph 8 8. Notes a wide variety of experiences with EFSI projects; calls for the exchange of best practices between the EIB and the Member States in order to increase the effectiveness of the Juncker plan by focusing less on achieving an arbitrary level of leverage and more on making a difference to EU citizens' lives through sustainable infrastructure and quality jobs;
Amendment 86 #
Draft opinion Paragraph 8 8. Notes
Amendment 87 #
Draft opinion Paragraph 8 8.
Amendment 88 #
Draft opinion Paragraph 8 8. Notes a wide variety of experiences with EFSI projects;
Amendment 89 #
Draft opinion Paragraph 8 a (new) 8a. Acknowledges that access to finance is still a core barrier for the growth of the cultural creative industries (CCIs); stresses the urgent need for funding initiatives to strengthen such industries; emphasises the potential from the EIB and the EFSI to support the creative sector, mainly through the financing of SMEs; Calls on the EIB to address the lack of EFSI funding to CCIs by investigating possible interactions with Creative Europe;
Amendment 9 #
1b. Encourages the EIB further expand its macroeconomic analysis capability, including research regarding the macroeconomic impact of its activities, as well as its general analytical work and sectoral studies, and the range of empirical papers and publications, thereby becoming as well a "knowledge bank";
Amendment 90 #
Draft opinion Paragraph 8 a (new) 8a. Suggests that the EIB facilitates the direct purchase of EIB bonds by EU citizens and residents, through the opening of an online sale system in its website, and/or through its commercialization by Member States NCBs, postal services and other suitable providers;
Amendment 91 #
Draft opinion Paragraph 8 b (new) 8b. Notes that, even though most EU citizens are unaware, EIB bonds are the only example of Union debt issuances;
Amendment 92 #
Draft opinion Paragraph 9 9. Recalls that if they are to contribute to the economic development of the EU as well as economic, social and territorial cohesion, risk transfer-based instruments cannot be risk free; stresses that the EIB and its
Amendment 93 #
Draft opinion Paragraph 9 9. Recalls that i
Amendment 94 #
Draft opinion Paragraph 9 a (new) 9a. Welcomes the EIB group Strategy on Gender Equality and Women’s Economic Empowerment released in 2017; Believes that the Gender Perspective should be applied to all EIB Group financial operations; Calls for a Gender Action Plan to be implemented soon, to set ambitious targets and to be accompanied by concrete indicators;
Amendment 95 #
Draft opinion Paragraph 9 a (new) 9a. Insists on the need to achieve the highest level of transparency and institutional accountability; calls on the EIB to present to the European Parliament the ongoing operations through regular meetings and giving access to information and financial documents;
Amendment 96 #
Draft opinion Paragraph 9 a (new) 9a. Asks the EIB to promote gender equality and corporate social responsibility through its financing offers; believes that any company requiring an EU financing should first demonstrate that it has clear measures in place in this regard;
Amendment 97 #
Draft opinion Paragraph 9 a (new) 9a. Calls for more comprehensive, frequent and proper parliamentary accountability of EIB, following the model of the ECB´s monetary dialogues;
Amendment 98 #
Draft opinion Paragraph 9 b (new) 9b. Notes that some of the projects managed by the European Investment Bank involved Mossack Fonseca and that the European Commission blocked 18 projects in 2016, preventing €1billion to end up in tax havens; Calls on the Commission to make public an annual report on the use of EU funds as well as EIB and EBRD money transfers to offshore structures, including the number and nature of projects blocked, the reasons for blocking them and follow-up actions taken to ensure no EU funds directly or indirectly help tax avoidance and tax fraud;
Amendment 99 #
Draft opinion Paragraph 9 b (new) 9b. Believes the communication of the EIB group, in cooperation with its relevant national partners, should be improved in order to raise the SMEs awareness of their financing possibilities and to better inform the citizens of the local and concrete projects financed by the EU;
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History
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