2020/2124(INI) Financial Activities of the European Investment Bank - annual report 2020
Next event: Indicative plenary sitting date, 1st reading/single reading 2021/07/05 more...
Lead committee dossier:
Next event: Indicative plenary sitting date, 1st reading/single reading 2021/07/05 more...
- Vote scheduled in committee, 1st reading/single reading 2021/04/22
- Committee opinion 2021/03/19
- Amendments tabled in committee 2021/03/10
Progress: Awaiting committee decision
Role | Committee | Rapporteur | Shadows |
---|---|---|---|
Lead | ECON | SILVA PEREIRA Pedro ( S&D) | SEEKATZ Ralf ( EPP), KELLEHER Billy ( Renew), EICKHOUT Bas ( Verts/ALE), ZANNI Marco ( ID), JURZYCA Eugen ( ECR), PAPADIMOULIS Dimitrios ( GUE/NGL) |
Committee Opinion | DEVE | GOERENS Charles ( Renew) | Dominique BILDE ( ID), Udo BULLMANN ( S&D), Miguel URBÁN CRESPO ( GUE/NGL), Beata KEMPA ( ECR), Marlene MORTLER ( PPE) |
Committee Opinion | BUDG | CORMAND David ( Verts/ALE) | Dimitrios PAPADIMOULIS ( GUE/NGL), Eero HEINÄLUOMA ( S&D), Martin HOJSÍK ( RE), Anna BONFRISCO ( ID), Bogdan RZOŃCA ( ECR), Angelika WINZIG ( PPE) |
Lead committee dossier:
Legal Basis:
RoP 54, RoP 57
Legal Basis:
RoP 54, RoP 57Events
2021/07/05
Indicative plenary sitting date, 1st reading/single reading
2021/04/22
Vote scheduled in committee, 1st reading/single reading
2021/03/19
EP - Committee opinion
Documents
2021/03/10
EP - Amendments tabled in committee
Documents
2021/02/10
EP - Committee draft report
Documents
2021/02/04
EP - Committee opinion
Documents
2020/09/17
EP - Committee referral announced in Parliament, 1st reading/single reading
2020/09/17
EP - Referral to associated committees announced in Parliament
2020/09/03
EP - CORMAND David (Verts/ALE) appointed as rapporteur in BUDG
2020/05/28
EP - GOERENS Charles (Renew) appointed as rapporteur in DEVE
2020/04/23
EP - SILVA PEREIRA Pedro (S&D) appointed as rapporteur in ECON
Documents
Activities
- Bas EICKHOUT
Plenary Speeches (0)
- Jonás FERNÁNDEZ
Plenary Speeches (0)
- Sven GIEGOLD
Plenary Speeches (0)
- Maria GRAPINI
Plenary Speeches (0)
- Enikő GYŐRI
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- Othmar KARAS
Plenary Speeches (0)
- Siegfried MUREŞAN
Plenary Speeches (0)
- Dimitrios PAPADIMOULIS
Plenary Speeches (0)
- Alfred SANT
Plenary Speeches (0)
- Pedro SILVA PEREIRA
Plenary Speeches (0)
- Ernest URTASUN
Plenary Speeches (0)
- Johan VAN OVERTVELDT
Plenary Speeches (0)
- Tomáš ZDECHOVSKÝ
Plenary Speeches (0)
- Gunnar BECK
Plenary Speeches (0)
- Luis GARICANO
Plenary Speeches (0)
- Henrike HAHN
Plenary Speeches (0)
- Joachim KUHS
Plenary Speeches (0)
- Eugen JURZYCA
Plenary Speeches (0)
- Frances FITZGERALD
Plenary Speeches (0)
- Hélène LAPORTE
Plenary Speeches (0)
- Angelika WINZIG
Plenary Speeches (0)
- David CORMAND
Plenary Speeches (0)
- Ralf SEEKATZ
Plenary Speeches (0)
- Dorien ROOKMAKER
Plenary Speeches (0)
- Alin MITUȚA
Plenary Speeches (0)
Amendments | Dossier |
129 |
2020/2124(INI)
2020/12/11
BUDG
86 amendments...
Amendment 1 #
Draft opinion Paragraph 1 1. Calls on the Member States to urgently agree on capital increase, both cash-in and callable in nature; calls on the EIB to provide the necessary growth capital to enable SMEs to scale up their operations; stresses the importance of digitalisation and calls for risks to be taken in the area of green and digital innovation in order to catalyse the just and digital transitions and to stop the financing of stranded assets; stresses however that green investments must be viable and the EIB must maintain a high-credit standing (AAA); notes that the climate problem cannot be solved without support of the industry, a large scale change can only be achieved if the industry is taken on board and the necessary incentives are given for innovative climate solutions;
Amendment 10 #
Draft opinion Paragraph 1 a (new) 1 a. Welcomes the increasing EIB support to the health sector and stresses the need to reinforce public health systems and not contribute to their privatisation; welcomes the investment the EIB is fostering in the fight against the Covid-19 pandemic, currently estimated at 770 million euros, and its active involvement in financing the development of treatments and vaccines; underlines however the dire need for transparency on this matter, and asks the EIB to fully disclose past and upcoming contracts with pharmaceutical companies.
Amendment 11 #
Draft opinion Paragraph 1 a (new) 1 a. Welcomes the Covid-19 response of the EIB and its efforts to get financing under way swiftly without adding extra red tape and bureaucracy; acknowledges this is especially important for SME financing; appreciates the EIB offering technical assistance to prepare and implement projects, to build the capacity of national or regional partners such as managing authorities, national promotional banks or cities; also welcomes the EIB stepping up its support to the healthcare sector;
Amendment 12 #
Draft opinion Paragraph 1 a (new) 1 a. Stresses that the COVID-19 crisis has exacerbated the disparities in the EU, its Member States and its regions; calls on the EIB to enhance its efforts for fair, inclusive and sustainable territorial development of all regions thus contributing to social, economic and territorial convergence and cohesion;
Amendment 13 #
Draft opinion Paragraph 1 a (new) 1 a. Welcomes the EIB’s reaction to the COVID-19 crisis by setting up a nearly 25 billion EUR strong Pan- European Guarantee Fund to mobilise up to 200 billion EUR supporting companies and especially SMEs in an unbureaucratic way during the crisis;
Amendment 14 #
Draft opinion Paragraph 1 a (new) 1 a. Welcomes the ambitions of the EIB Group in reaction to the COVID-19 crisis aiming at general economic recovery, creation of employment, support of vulnerable SMEs, investment in healthcare sector and research;
Amendment 15 #
Draft opinion Paragraph 1 b (new) 1 b. Recalls the importance for EIB to maintain a high-credit standing (AAA) in order to be able to secure the most preferential financial conditions at the capital markets which it can then pass on to its clients;
Amendment 16 #
Draft opinion Paragraph 2 2. Reiterates that all financial flows of the European Investment Bank (EIB) Group should be consistent with the goal of achieving net zero emissions by 2050 at the latest and the Union’s new climate objective for 2030;
Amendment 17 #
Draft opinion Paragraph 2 2.
Amendment 18 #
Draft opinion Paragraph 2 2. Reiterates that all financial flows of the European Investment Bank (EIB) Group should be consistent with the goal of achieving net zero emissions by 2050 at the latest and the Union’s new climate objective for 2030;
Amendment 19 #
Draft opinion Paragraph 2 2. Reiterates that all financial flows of the European Investment Bank (EIB) Group should be consistent with the goal of achieving net zero emissions by 2050 at the latest and the Union’s new climate objective for 2030;
Amendment 2 #
Draft opinion Paragraph 1 1. Calls on the Member States to urgently agree on capital increase, both cash-in and callable in nature;
Amendment 20 #
Draft opinion Paragraph 2 2. Reiterates that all financial flows of the European Investment Bank (EIB) Group should be fully consistent with the goal of
Amendment 21 #
Draft opinion Paragraph 2 2. Reiterates that all financial flows of the European Investment Bank (EIB) Group should be consistent with the goal of achieving net zero emissions by 2050 at the latest and the Union’s new climate objective for 2030;
Amendment 22 #
Draft opinion Paragraph 2 2. Reiterates that all financial flows of the European Investment Bank (EIB) Group should be consistent with the goal of achieving net zero emissions by 2050 at the latest and the Union’s new climate objective for 2030;
Amendment 23 #
Draft opinion Paragraph 2 2. Reiterates that all financial flows of the European Investment Bank (EIB) Group should be consistent with the goal of achieving net zero emissions by 2050 at the latest and the Union’s new climate objective for 2030; looks forward to the adoption in 2020 of an ambitious Climate Bank Roadmap 2021-25 (CBRM), which is to include a detailed strategic and operational framework with milestones and a shadow carbon price of at least EUR 100/tonne by 2025; calls
Amendment 24 #
Draft opinion Paragraph 2 a (new) 2 a. Welcomes the commitment from the EIB in the Climate Bank Roadmap to focus support on sustainable rearing and dairy industries, and in particular to address animal welfare; suggests that the EIB should refrain from investments that facilitate incentives to industrial farming expanding livestock production and which lead directly or indirectly to deforestation and land degradation; calls on the EIB to explicitely exclude the funding of practices such as battery caging and high population densities, tail-docking and routine castration of pigs, and fur farming.
Amendment 25 #
Draft opinion Paragraph 2 a (new) 2 a. Welcomes the commitment of the EIB to prepare annual progress reports to update its governing bodies on the implementation of the CBR; believes that the progress reports should be published in due time and be easily accessible; calls furthermore for disapproving of projects which are at risk of being non-compliant with the Paris Agreement and which are currently in the process of appraisal;
Amendment 26 #
Draft opinion Paragraph 2 a (new) 2 a. Calls on the EIB to urgently start negotiations with the Commission and Member States on how to leverage on its technical and financial knowledge for the rapid implementation of the Recovery and Resilience Facility and Next Generation EU.
Amendment 27 #
Draft opinion Paragraph 2 a (new) 2a. Is opposed to the current situation whereby some 10% of financing takes place outside the EU on the basis of opaque arrangements with development banks, in particular in Africa;
Amendment 28 #
Draft opinion Paragraph 2 b (new) 2 b. Expects the EIB Group to support by its new operations the goals of the EU Chemical Strategy for Sustainability by boosting innovation for safe and sustainable-by-design chemicals, materials and products, Circular Economy Action Plan based on non-toxic material cycles and upcoming Zero Pollution Action Plan for water, air and soil;
Amendment 29 #
Draft opinion Paragraph 2 c (new) 2 c. Welcomes the support of the EIB for the development and expansion of renewable energy sources, including geothermal; calls, however, for refraining from support of projects at increased risk of doing harm to the environment and biodiversity-rich areas and for improving disclosure of information and due diligence on projects which it supports;
Amendment 3 #
Draft opinion Paragraph 1 1.
Amendment 30 #
Draft opinion Paragraph 2 d (new) 2 d. Encourages the EIB to facilitate by its operations the implementation of goals set within the European Green Deal and its Farm to Fork strategy and Biodiversity Strategy to 2030; calls on the EIB and Member States to follow the precautionary principle, apply necessary safeguards and support operations delivering transition towards sustainable agriculture and management of natural resources with respect to planetary boundaries;
Amendment 31 #
Draft opinion Paragraph 2 e (new) 2 e. Acknowledges the challenges and progress achieved during the implementation of the Natural Capital Financing Facility; calls on the EIB to consider providing a grant component under the Facility to support initial scaling up of local projects and facilitate generating revenues; believes that an evaluation of the Facility should be embedded in a broader assessment of the EIB on how to support ecosystem and biodiversity restoration in the EU;
Amendment 32 #
Draft opinion Paragraph 3 3. Expects the EIB to comply with Article 191 of the Treaty on the Functioning of the European Union by applying the precautionary principle, and to put on hold disbursement, and, if necessary, to withdraw funding, if there is evidence or a serious risk of adverse impacts
Amendment 33 #
Draft opinion Paragraph 3 3. Expects the EIB to comply with Article 191 of the Treaty on the Functioning of the European Union and, respecting the relevant legal provisions of EIB finance contracts, to put on hold disbursement, and, if necessary, to withdraw funding, if there is evidence or a serious risk of adverse impacts; expects the EIB to conduct thorough monitoring that fully takes into account concerns expressed by concerned parties and stakeholders, in particular those pertaining to human rights violations;
Amendment 34 #
Draft opinion Paragraph 3 3. Expects the EIB to comply with Article 191 of the Treaty on the Functioning of the European Union and to put on hold disbursement, and, if necessary, to withdraw funding, if there is evidence or a serious risk of adverse impacts; expects the EIB to conduct thorough monitoring that fully takes into account concerns expressed by concerned parties and stakeholders
Amendment 35 #
Draft opinion Paragraph 3 3. Expects the EIB to comply with Article 191 of the Treaty on the Functioning of the European Union and to put on hold disbursement, and, if necessary, to withdraw funding, if there is evidence or a serious risk of adverse impacts; expects the EIB to conduct thorough monitoring that fully takes into account concerns expressed by concerned parties and stakeholders, in particular those pertaining to human rights violations and breaches of the rule of law;
Amendment 36 #
Draft opinion Paragraph 3 3. Expects the EIB to comply with Articles 11 and 191 of the Treaty on the Functioning of the European Union and to put on hold disbursement, and, if necessary, to withdraw funding, if there is evidence or a serious risk of adverse impacts; expects the EIB to conduct thorough monitoring that fully takes into account concerns expressed by concerned parties and stakeholders, in particular those pertaining to human rights violations;
Amendment 37 #
Draft opinion Paragraph 3 3. Expects the EIB to comply with Article 191 of the Treaty on the Functioning of the European Union and, if possible within legal remits established for the financing, to put on hold disbursement, and, if necessary, to withdraw funding, if there is evidence or a serious risk of adverse impacts; expects the EIB to co
Amendment 38 #
Draft opinion Paragraph 3 a (new) 3 a. Expects the EIB to conduct Human Rights Impact Assessments at project level, as well as to continuously monitor the implementation of projects on the ground; calls in this regard the Bank to engage actively with local communities, and to inform them accordingly of their rights, with a special focus to implement a free, prior and informed consent, including their access to a Complaints Mechanism.
Amendment 39 #
Draft opinion Paragraph 3 a (new) 3 a. Underlines the pivotal role of SMEs as the backbone of Europe's economy, representing almost 99% of all businesses and providing around three- quarters of all jobs, while being key drivers of innovation; points out that SMEs have been severely hit by the COVID-19 crisis; calls on the EIB to further enhance its support to SMEs;
Amendment 4 #
Draft opinion Paragraph 1 1. Calls on the Member States to urgently agree on capital increase, both cash-in and callable in nature; calls for risks to be taken in the area of green and digital innovation in order to catalyse the just and digital transitions and to stop the financing of stranded assets; moreover, the European Investment Bank (EIB) should increase its support to fight unemployment in the regions most affected by the COVID-19 crisis; furthermore supporting public administration projects for the digitalisation of rural areas and the national health system;
Amendment 40 #
Draft opinion Paragraph 4 Amendment 41 #
Draft opinion Paragraph 4 4. Expects the
Amendment 42 #
Draft opinion Paragraph 4 4. Expects the CBRM and the EIB’s revised transport lending policy not to fall below the standard of EU taxonomy; calls for no new loans to be granted that hinder the decarbonisation of transport
Amendment 43 #
Draft opinion Paragraph 4 4. Expects the CBRM and the EIB’s revised transport lending
Amendment 44 #
Draft opinion Paragraph 4 4. Expects the CBRM and the EIB’s revised transport lending policy not to fall below the standard of EU taxonomy; calls for no new loans to be granted that hinder the decarbonisation of transport, and, in particular,
Amendment 45 #
Draft opinion Paragraph 4 4.
Amendment 46 #
Draft opinion Paragraph 4 4. Expects the CBRM and the EIB’s revised transport lending policy not to fall below the standard of EU taxonomy; calls for no new loans to be granted that hinder the decarbonisation of transport, and, in particular, no new financing to be awarded for the expansion of airports
Amendment 47 #
Draft opinion Paragraph 4 4. Expects the CBR
Amendment 48 #
Draft opinion Paragraph 4 4. Expects the CBRM and the EIB’s revised transport lending policy
Amendment 49 #
Draft opinion Paragraph 4 4. Expects the CBRM and the EIB’s revised transport lending policy not to fall below the standard of EU taxonomy; calls
Amendment 5 #
Draft opinion Paragraph 1 1. Calls on the Member States to urgently agree on capital increase, both cash-in and callable in nature; calls for risks to be taken in the area of green and digital innovation in order to catalyse the just and digital transitions and to stop the financing of stranded assets; underlines that priority should be given to the projects directly aiming at the economic and social recovery from the crisis brought by Covid-19 pandemic;
Amendment 50 #
Draft opinion Paragraph 4 a (new) 4 a. Calls on the EIB to dedicate particular attention to the financing of public transport development and modernisation as part of its lending policy; emphasises the need to finance sustainable mobility and sustainable urban design projects, i.a. with the use of the Public Sector Loan Facility, in the areas particularly affected by traffic congestion and underdeveloped road network;
Amendment 51 #
Draft opinion Paragraph 4 a (new) 4 a. Acknowledges the importance of technical assistance which can facilitate balanced geographical allocation of investments and optimal absorption of EU funds; believes that current annual target for cohesion lending of 30% of all new operations can serve as a solid stepping- stone for increased investment activities leading to economic, social and territorial cohesion;
Amendment 52 #
Draft opinion Paragraph 4 a (new) 4a. Takes the view that, in keeping with the EIB's current position, new road construction projects should undergo an economic test incorporating a higher carbon price, so that full account can be taken of the related environmental externalities;
Amendment 53 #
Draft opinion Paragraph 4 b (new) 4 b. Believes that the new Transparency Policy of the EIB should ensure timely and systematic publishing of the content of the meetings of all the EIB’s governing bodies; calls specifically for more transparency concerning the meetings of the Management Committee and their outcomes, for publishing the minutes of the Board of Directors meetings directly after the meeting and for inclusion of information better reflecting the discussions at these meetings; highlights further the importance of publishing information relating to direct loans subject to the approval of the Management Committee, including by publishing for each project the opinion of the Commission and that of the Member State in which the project is located, as well as the Three Pillar Assessment, Results Measurement (ReM) sheets and/or EFSI Scoreboard, where applicable, along with the GHG Carbon Footprint Assessment, the ERR and FIRR calculations and the Overall Environmental and Social Assessment Form;
Amendment 54 #
Draft opinion Paragraph 4 b (new) 4 b. Underlines the need to achieve economic rebalancing between Eastern and Western EU Member States, particularly by investing in the long-term projects in the Member States benefitting from cohesion policy, so as to accelerate the improvement of their development and growth factors and by this means narrow the economic development gap between the countries;
Amendment 55 #
Draft opinion Paragraph 4 c (new) 4 c. Encourages the EIB to design its new Transparency Policy in a way that enhances transparency and access to information regarding the contracting and subcontracting system, the results of internal investigations and the selection, monitoring and evaluation of its activities and programmes; calls on the EIB to publish the monitoring reports and promoter’s reports immediately after their receipt;
Amendment 56 #
Draft opinion Paragraph 5 5. Welcomes the review of the EIB Environmental Social Standards and calls for a wide and inclusive public consultation; expects all projects to include more comprehensive gender and human rights dimensions and due diligence obligations
Amendment 57 #
Draft opinion Paragraph 5 5.
Amendment 58 #
Draft opinion Paragraph 5 5. Welcomes the review of the EIB Environmental Social Standards and calls for a wide and inclusive public consultation;
Amendment 59 #
Draft opinion Paragraph 5 5. Welcomes the review of the EIB Environmental Social Standards and calls for a wide and inclusive public consultation; expects all projects to include more comprehensive gender and human rights dimensions and due diligence obligations; calls for the EIB to publish ‘Know Your Customer’ checks before approving any project
Amendment 6 #
1. Calls on the Member States
Amendment 60 #
Draft opinion Paragraph 5 5. Welcomes the review of the EIB Environmental Social Standards and calls for a wide and inclusive public consultation; expects all projects to include more comprehensive gender and human rights dimensions and due diligence obligations; expects entrepreneurial support to projects promoted by youth and women; calls for the EIB to publish ‘Know Your Customer’ checks before approving any project.
Amendment 61 #
Draft opinion Paragraph 5 5. Welcomes the review of the EIB Environmental Social Standards and calls for a wide and inclusive public consultation; expects all projects to include sound pollution prevention and biodiversity proofing, more comprehensive gender and human rights dimensions and due diligence obligations; calls for the EIB to publish ‘Know Your Customer’ checks before approving any project.
Amendment 62 #
Draft opinion Paragraph 5 5. Welcomes the review of the EIB Environmental Social Standards and
Amendment 63 #
Draft opinion Paragraph 5 a (new) 5 a. Believes that the EIB should ensure the highest level of integrity of its financial intermediaries, and that their loans should become subject to the same transparency requirements as other types of loan; calls on the EIB to regularly publish the allocation list of final beneficiaries of intermediary finance operations; calls on the EIB to amend the "EIB template contractual clauses on environmental matters" and accordingly the contracts with the financial intermediaries so that there are clear requirements as to what environmental information needs to be collected by the financial intermediary and passed onto the Bank for publication; calls on the EIB to cease working with financial intermediaries with a negative track record as regards transparency, fraud, corruption, organised crime or money laundering, respect for human rights or environmental protection; stresses that such new requirements should not be to the detriment of access to finance for SMEs;
Amendment 64 #
Draft opinion Paragraph 5 a (new) 5 a. Underlines that the coronavirus pandemic has been a significant shock for the EU and the global economy, with severe economic and social impacts; underlines that SMEs are the backbone of European economy, but many SMEs are facing unprecedented challenges, especially liquidity challenges due to the pandemic; in this context, welcomes the EIB €25bn protection shield EU guarantee fund, which aims to make more financing available for small and medium companies and mid-caps via financial intermediaries; supports also the agreement reached by the European Parliament and the Council on the InvestEU instrument, which provides a window dedicated to SMEs and horizontal provisions allowing capital support; calls on the EIB and the participating Member States to prioritise policies enhancing job creation and retention and to monitor and measure the impact of the funds to ensure real outcomes.
Amendment 65 #
Draft opinion Paragraph 5 a (new) 5 a. Highlights that in 2019, 12,5% of EIB loans concerned projects outside of the EU, amounting to around a third of all EU institutions' official development assistance; recalls the Commission's statement that the EIB should better align the External Lending Mandate operations with EU policies1a. _________________ 1a Executive summary of the evaluation of Decision No 466/2014/EU of the European Parliament and of the Council of 16 April 2014 granting an EU guarantee to the European Investment Bank against losses under financing operations supporting investment projects outside the Union {SWD(2019) 333 final} 13 September 2019
Amendment 66 #
Draft opinion Paragraph 5 a (new) 5 a. Calls for Parliament’s oversight to be strengthened in order to enhance EIB’s accountability and the democratic scrutiny of its policies and investments, including the ability to submit questions for written answer to the EIB as already provided for the ECB;
Amendment 67 #
Draft opinion Paragraph 5 a (new) 5 a. Expects that the EIB continues to sustain European SMEs also in light of the risks deriving from the twin transition, green and digital;
Amendment 68 #
Draft opinion Paragraph 5 b (new) 5 b. Recalls that EIB funds are public money and should always be subject to public scrutiny and accountability; regrets the lack of transparency in the use of EIB loans by the European company Volkswagen, as underlined by the European Ombudsman in its decision of 28 November 2019 which states a "serious misuse of public funds and misrepresentations by a leading European company as to their purpose"1a; calls on the EIB to apply stricter checks and due diligence in order to avoid such similar cases in the future, and more especially to disclose any relevant information related to cases of serious misuses of public funds. _________________ 1aDecision in case 805/2018/MIG on the European Investment Bank’s refusal to grant public access to documents regarding a loan to Volkswagen, 28 November 2019
Amendment 69 #
Draft opinion Paragraph 5 b (new) 5 b. Welcomes the improvement in diversity in the EIB in gender balance with an increase of women at senior officer and management level positions to 33% and 30% respectively in 2019; welcomes the targets set by the EIB for 2021 to further increase the share of women in these positions; calls on the EIB to continue to promote all forms of diversity and inclusion within its organisation and to set ambitious targets.
Amendment 7 #
Draft opinion Paragraph 1 1. Calls on the Member States to urgently agree on capital increase, both cash-in and callable in nature; calls for
Amendment 70 #
Draft opinion Paragraph 5 b (new) 5 b. Recognizes the added value of EU Ombudsman investigations which can lead towards more effective and transparent administration; calls in this regard on the EIB to implement recommendations of the EU Ombudsman in good time;
Amendment 71 #
Draft opinion Paragraph 5 b (new) 5 b. Expects the EIB Group to continue its diversification efforts with a view to create a pan-European financial ecosystem capable of sustaining innovative companies also in countries where the equity market is less developed;
Amendment 72 #
Draft opinion Paragraph 5 c (new) 5 c. Calls on the EIB to meet the objectives of its Social Standards and its Strategy for Gender Equality and Women's economic empowerment, and allocate the required internal resources, including human resources, to ensure its full implementation; asks for an update on the gender strategy implementation; calls for gender impacts to be considered also at project level.
Amendment 73 #
Draft opinion Paragraph 5 c (new) 5 c. Calls on the EIB to create a development bank to ensure that development financing is aligned to the priorities of the EU andits economic diplomacy, in order to achieve the strategic autonomy of theEuropean Union; expects the Commission and Member States to privilege the EIB and the new development bank for the implementation of development finance programmes.
Amendment 74 #
Draft opinion Paragraph 5 c (new) 5 c. Notes that the EIB has approved several loans worth hundreds of millions of euros to deploy 5G networks in European Member states; regrets however that prior to these approvals, no comprehensive study has been conducted on the environmental and health impact of the deployment of this technology.
Amendment 75 #
Draft opinion Paragraph 5 c (new) 5 c. Calls on the EIB to further reinforce the implementation of its Social Standards and Strategy for Gender Equality and Women’s Economic Empowerment, and allocate the required internal resources accordingly;
Amendment 76 #
Draft opinion Paragraph 5 d (new) 5 d. Invites the EIB to hold an interinstitutional exchange of views on its contributions towards tackling global challenges and pursuing common goals, including the Sustainable Development Goals, and to assess the progress made with regards to the Resolution on the financial activities of the EIB – annual report 2019 adopted on 10 July 2020.
Amendment 77 #
Draft opinion Paragraph 5 d (new) 5 d. Reiterates the request to publish the content of the meetings of all the EIB’s governing bodies systematically, and asks for more transparency concerning the meetings of the Management Committee, including meeting agendas and external meetings, and their outcomes.
Amendment 78 #
Draft opinion Paragraph 5 e (new) 5 e. Calls on a new ambitious standard on financial intermediaries, with specific benchmarks to select intermediaries following stringent tax, transparency, environmental and social standards.
Amendment 79 #
Draft opinion Paragraph 5 f (new) 5 f. Notes that the corona pandemic has had a huge negative impact on children’s education and wellbeing across the globe, with millions of children still lacking access to education due to lockdown measures and therefore being at risk of regression and suffering potential lifelong effects; welcomes the EIB's investment in education, as investing in education helps to eradicate poverty, boost economic growth and improve gender equality; calls on the EIB to increase its investment into education to help mitigate the severe impact of the corona crisis on education systems globally.
Amendment 8 #
Draft opinion Paragraph 1 a (new) Amendment 80 #
Draft opinion Paragraph 5 g (new) 5 g. The lack of access to finance for SMEs and midcaps, particularity in the innovation field, remains a structural market failure; calls on the EIB to enhance cooperation with financial intermediaries and NPBIs in order to reach a wide array of SMEs and midcaps; calls on the EIB to priorities projects creating sustainable jobs and reducing inequalities as well as growth capital to enable SMEs to scale up their operations.
Amendment 81 #
Draft opinion Paragraph 5 h (new) 5 h. Notes that the EIB will play a key role in Europe's corona pandemic recovery; calls on the EIB to be prepared for an important advisory role on investment in the just climate and digital transitions, SMEs, cohesion, and the recovery; calls on the EIB to maximise investment levels to curb long term negative impacts of the pandemic.
Amendment 82 #
Draft opinion Paragraph 5 i (new) 5 i. Looks forward to the EIB review of its transparency policy in 2021; calls on the EIB to increase pro-activeness in the timely publication of more ample information on its financing activities as with increased responsibility must come increased accountability, also towards the European Parliament; reminds that transparency is one of the cornerstones of democracy.
Amendment 83 #
Draft opinion Paragraph 5 j (new) 5 j. Welcomes the increased EIB investment in the health sector, including in R&D and innovation for developing a coronavirus vaccine; however, stresses that EIB activities should not contribute towards increasing privatisation of healthcare.
Amendment 84 #
Draft opinion Paragraph 5 k (new) 5 k. Calls on the EIB to apply more stringent tax transparency standards, namely subjecting the granting of direct and indirect loans to publication of tax and accounting data country by country by the beneficiaries and to the sharing of beneficial ownership data on the beneficiaries and financial intermediaries involved in financing operations;
Amendment 85 #
Draft opinion Paragraph 5 l (new) Amendment 86 #
Draft opinion Paragraph 5 m (new) 5 m. Notes that the EIB is still reviewing its anti fraud policy and urges the EIB to swiftly adopt the updated policy; calls on the EIB to step up its due diligence obligations in line with EU Anti- Money Laundering legislation, and provide a complete regulatory framework to allow the Bank to effectively prevent involvement in illegal activity and ensure a proper sanctioning regime for failure to comply with EU law; calls on the EIB to enhance checks on politically exposed persons.
Amendment 9 #
Draft opinion Paragraph 1 a (new) 1 a. Calls for the European Investment Bank Group to step up its efforts to support the economic recovery after the pandemic; is concerned about the meagre take uprate of the EUR25bn Pan- European Guarantee Fund, and attributes this to the Group’s risk profile; proposes therefore that the Commission and the private sector make a capital injection to the European Investment Fund so as to dilute the EIB’s controlling stake, hence allowing the Fund to support the European economy by increasing its risk appetite; highlights that this proposal would allow the Fund to invest more heavily in distressed assets, such as by building on its previous experience with financial guarantees and acting as an Asset Protection Scheme for companies affected by the pandemic.
source: 662.077
2021/02/03
DEVE
43 amendments...
Amendment 1 #
Draft opinion Recital A A. whereas in 2019 the European Investment Bank (EIB) approved loans worth EUR 7.8 billion for projects outside the Union, including EUR 1.1 billion in least developed countries (LDCs) and fragile states, but in the past the bulk of that assistance has nevertheless concerned middle-income countries;
Amendment 10 #
Draft opinion Paragraph 1 a (new) 1 a. Believes that the projects financed by the EIB in developing countries must be coherent with EU Policy Coherence for Development, in particular with the achievement of the SDGs, the commitments of the Paris agreement and the green deal and respect the ILO core conventions;
Amendment 11 #
Draft opinion Paragraph 2 2. Stresses the ‘policy first’ principle and the notion of ‘open architecture’ underpinning the European Fund for Sustainable Development Plus (EFSD+) - External Action Guarantee(EAG), which should enhance coherence and coordination among the EIB, EBRD, European Development Finance institutions (DFIs), national development agencies, the Commission and Member States in identifying investment operations that can contribute to sustainable development; is concerned about the use of EU development funds for de-risking private investment given the lack of evidence as to the capacity of this financial modality to demonstrate additionality and fulfil development objectives, as recently reported per the final review of EFSD as well as the opinion of the European Court of Auditors (No 7/2020); stresses the need for donors to prioritise grant-based financing as the default option, especially to LDCs, and not favour blending, guarantee or any loans over grants, that fall short of SDGs and could increase the burden of debt;
Amendment 12 #
Draft opinion Paragraph 2 2. Stresses the ‘policy first’ principle underpinning the European Fund for Sustainable Development Plus (EFSD+), which should enhance coherence and coordination among the EIB, the Commission and Member States in identifying investment operations that can contribute to sustainable development; is of the opinion that the EIB should avoid excessive overreliance on projects implemented by transnational companies and financial intermediaries that do not prioritize development projects, such as private equity funds;
Amendment 13 #
Draft opinion Paragraph 2 2. Stresses the ‘policy first’ principle underpinning the European Fund for Sustainable Development Plus (EFSD+), which should enhance coherence and coordination among the EIB, the Commission and Member States in identifying investment operations that can contribute to sustainable development and respond to increasing challenges caused by the COVID-19 pandemic;
Amendment 14 #
Draft opinion Paragraph 2 2. Stresses the ‘policy first’ principle underpinning the European Fund for Sustainable Development Plus (EFSD+), which should enhance coherence and coordination among the EIB, the Commission and Member States in identifying and implementing investment operations that can contribute to sustainable development;
Amendment 15 #
Draft opinion Paragraph 2 2. Stresses the ‘policy first’ principle underpinning the European Fund for Sustainable Development Plus (EFSD+), which should further enhance coherence and coordination among the EIB, the Commission and Member States in identifying investment operations that can contribute to sustainable development;
Amendment 16 #
Draft opinion Paragraph 2 a (new) 2 a. Welcomes the commitments made by the EIB towards countering tax evasion of beneficiary companies for development projects; calls on the EIB to prevent companies controlled by entities located in countries listed on the EU blacklist of prohibited jurisdictions from accessing EIB financing; calls on the EIB to require potential beneficiary companies to disclose information about their tax payments in each country in which they operate as a precondition for accessing EIB financing;
Amendment 17 #
Draft opinion Paragraph 2 a (new) 2 a. As all EIB shareholders are committed to the G20 commitment to suspend the debt of 77 countries following the debt crisis linked to the COVID-19 outbreak, calls on the EIB to apply a suspension to its pending loans, to carefully assess the debt impact of its future operations, and to express public support to the creation of a multilateral debt workout mechanism to address both the impact of the crisis and the financing requirements of the Agenda 2030;
Amendment 18 #
Draft opinion Paragraph 2 a (new) 2 a. Believes that the primary objective for EIB interventions in developing countries should be supporting local development and actors, projects aiming to reduce inequalities and poverty , climate change mitigation, strengthening public services and supporting domestic resource mobilization;
Amendment 19 #
Draft opinion Paragraph 2 a (new) 2a. Expresses concern, however, at the risks associated with ‘greenwashing’ and calls for appropriate criteria defining sustainable investments to be introduced so as to arrest that tendency;
Amendment 2 #
Draft opinion Recital A a (new) A a. whereas the High-Level Group of Wise Persons (HLGWP) on the European financial architecture for development released its final report on 7th October 2019 with 3 possible options to build the future European Climate and Sustainable Development Bank, as follow: a) building on the EBRD and the external financing activities of the EIB; b) pulling together the external activities of the current EU financial institutions in a new financial institution with mixed ownership; c) transferring all external activities of the EIB into an EIB subsidiary with significant other shareholders; whereas Council Conclusions of December 2019 indicated that only option a) and c) should be explored; whereas the results of feasibility studies on each options which were supposed to be delivered in Autumn 2020 are still expected;
Amendment 20 #
Draft opinion Paragraph 2 b (new) 2 b. reiterates its longstanding demands that the European Court of Auditors be empowered to audit all EIB operations, and that these audits be made public;
Amendment 21 #
Draft opinion Paragraph 2 b (new) 2 b. calls the EIB to avoid supporting speculative funds, such as private equity funds, whose purposes are not those of development support
Amendment 22 #
Draft opinion Paragraph 3 3. Calls on the EIB to
Amendment 23 #
Draft opinion Paragraph 3 3. Calls on the EIB to maximise additionality and the development impact of its operations outside the Union by increasing its engagement in LDCs, enhancing the transparency of operations carried out by financial intermediaries, cooperating with EU delegations, and increasing its presence on the ground where necessary;
Amendment 24 #
Draft opinion Paragraph 3 3. Calls on the EIB to maximise additionality and the development impact of its operations outside the Union by increasing its engagement in LDCs, enhancing the transparency of operations carried out by financial intermediaries, cooperating with EU delegations, and increasing its presence on the ground where necessary; notes that private sector investment will be essential to fill the funding gap for the SDGs; recalls the crucial role of the EIB in de-risking private investment, particularly in fragile contexts;
Amendment 25 #
Draft opinion Paragraph 3 3. Calls on the EIB to maximise additionality and the development impact of its operations outside the Union by increasing its engagement in LDCs, and particularly very fragile states, by enhancing the transparency of operations
Amendment 26 #
Draft opinion Paragraph 3 3. Calls on the EIB to maximise additionality and the development impact of its operations outside the Union by increasing its engagement in LDCs, enhancing the transparency of operations carried out by financial intermediaries, cooperating with EU delegations, and increasing its presence on the ground where necessary in partnership with local institutions, authorities and initiatives and responding adequately to local needs;
Amendment 27 #
Draft opinion Paragraph 3 a (new) 3 a. Notes that the European Ombudsman has opened three inquiries on the EIB concerning the disclosure of information about projects it finances directly, the information about projects administered by national banks or financial institutions, and the access to minutes of the meetings of its Management Committee; calls on the EIB to disclose this information in order to enhance its transparency and accountability;
Amendment 28 #
Draft opinion Paragraph 3 a (new) 3 a. Stresses the importance to further enhance the existing monitoring framework of the EIB to better assess and track the inputs and outputs of different projects, to monitor technical assistance activities and results, to facilitate financing as well as to strengthen technical advice operations;
Amendment 29 #
Draft opinion Paragraph 3 a (new) 3a. Calls on the EIB to focus on local partners when it comes to technical assistance, particularly for the setting-up of projects, not least in the case of projects involving least developed and vulnerable countries;
Amendment 3 #
Draft opinion Recital A a (new) A a. whereas in 2020 the EIB´s financing for countries outside the Union was EUR 10.2 billion and lending to African countries alone was EUR 4.7 billion;
Amendment 30 #
Draft opinion Paragraph 3 a (new) 3 a. Expects the EIB to further develop its analytical and operational tools in order to support the UN 2030 sustainability agenda. Stresses the need to ex-ante as well as ex-post analyse the impact of our external co-operation in this respect.
Amendment 31 #
Draft opinion Paragraph 3 b (new) 3 b. Points out that the agriculture, food, forestry and fisheries sectors are key players for growth and development in rural areas; calls the EIB to boost its investment and to support innovation in these relevant sectors, which can significantly contribute to food security, heathy diets as well as sustainability and resilience of global food systems; recalls the need for cooperation in the framework of the UN Food System Summit to achieve more progress on all 17 SDGs;
Amendment 32 #
Draft opinion Paragraph 3 b (new) 3b. Laments the fact that in the past the bulk of assistance has been allocated to middle-income countries and stresses that priority should be given to least developed countries and particularly, tying in with the political priorities of certain Member States such as France, the Sahel countries, which moreover have considerable needs in terms of energy infrastructure and the energy transition;
Amendment 33 #
Draft opinion Paragraph 3 b (new) 3 b. Underlines the priority to support our partner countries in their post pandemic recovery by strengthening education and health systems and public infrastructure focussing on the fight against growing inequalities and enabling especially the lower 40% of the population to participate and contribute to a decent and future oriented process of re-building their communities.
Amendment 34 #
Draft opinion Paragraph 3 b (new) 3 b. Calls on the Commission to regularly disclose the rationale behind its opinions on the projects financed by the EIB, given that making such information public would clarify the decision-making process for EIB operations covered by the EU guarantee and the contribution of such operations to the Union’s development policy objectives;
Amendment 35 #
Draft opinion Paragraph 3 c (new) 3 c. Calls the EIB to continue supporting specific investments to guarantee an equal access to education, employment and financial services of women and girls, which are more vulnerable to the effects of poverty, food and economic crises;
Amendment 36 #
Draft opinion Paragraph 4 4. Recalls the need for robust and publicly available ex ante impact assessments to mitigate the risks of EIB operations on human rights and on environmental, labour and social standards, and the need for regular and meaningful consultations
Amendment 37 #
Draft opinion Paragraph 4 4. Recalls the need for robust ex ante impact assessments to mitigate the risks of EIB operations on human rights and on environmental, labour and social standards, and the need for meaningful consultations with stakeholders, including civil society organisations; believes that ex ante impact assessments on human rights should be carried out for every project funded by the EIB, especially when implemented by financial intermediaries, and that continuous monitoring of operations on the ground should be ensured; stresses that the EIB needs to deal with complaints in a transparent and effective manner;
Amendment 38 #
4. Recalls the need for robust ex ante impact assessments to mitigate the risks of EIB operations on human rights and on environmental, labour and social standards, and the need for meaningful consultations with stakeholders, including civil society organisations; stresses that the EIB needs to deal with complaints in a transparent and effective manner; insists on the EIB making astringent use of its Non- Cooperative Jurisdiction Policy so that its operations do not contribute to tax evasion or avoidance;
Amendment 39 #
Draft opinion Paragraph 4 4. Recalls the need for robust ex ante impact assessments to mitigate the risks of EIB operations on human rights and on environmental, labour and social standards, and rules on transparency and fraud, and the need for meaningful consultations with stakeholders, including civil society organisations; stresses that the EIB needs to deal with complaints in a transparent and effective manner and that it must work in cooperation with local authorities in partner countries to combat fraud;
Amendment 4 #
Draft opinion Recital A a (new) A a. whereas recent studies cast doubts on the effectiveness of blending finance in pursuing development objectives
Amendment 40 #
Draft opinion Paragraph 4 a (new) 4a. Emphasises that the EIB must continuously strengthen and adapt its means of combating fraud, not least through increased vigilance in respect of any transactions involving non- cooperative jurisdictions or states appearing on the FATF list of jurisdictions under increased monitoring, in particular as regards money laundering;
Amendment 41 #
Draft opinion Paragraph 4 b (new) 4b. Emphasises that the EIB must, where appropriate, apply suspensory clauses when it comes to respect for transparency, and especially labour law, paying particular attention to compliance with these conditions;
Amendment 42 #
Draft opinion Paragraph 5 5. Calls on the EIB to engage in closer and transparent dialogue with the European Parliament,
Amendment 43 #
Draft opinion Paragraph 5 5. Calls on the EIB to engage in closer dialogue with the European Parliament, notably in the context of the EFSD+ and the ongoing discussions on the future European financial architecture for development, and to give regular reports on its activities.
Amendment 5 #
Draft opinion Paragraph 1 1. Recognises the important role
Amendment 6 #
Draft opinion Paragraph 1 1. Recognises the important role that the EIB, the world’s largest multilateral lender, can play in contributing to the Union’s development policy objectives, and in particular its
Amendment 7 #
Draft opinion Paragraph 1 1. Recognises the important role that the EIB, the world’s largest multilateral lender, can play in contributing to the Union’s development policy objectives, and in particular its potential to promote
Amendment 8 #
Draft opinion Paragraph 1 a (new) 1 a. Stresses that as the main focus of the EIB is not development policies, strengthening its role in this field would require considerable reshuffling of business and managerial practices, and a shifted approach to risk-taking, where development outcomes take precedence over profitability; stresses that the HLGWP reports that creating a dedicated subsidiary of the EIB for development purpose would be the quickest and technically simplest option to pursue, but also the one with the highest risk of ineffectiveness and uncertainty as to the development impact;
Amendment 9 #
Draft opinion Paragraph 1 a (new) 1a. Welcomes the EIB’s plans for green and sustainable urban planning in sub-Saharan Africa and its cooperation with UN-Habitat, given the scale of the challenge posed by the rapid urbanisation of Africa, and particularly the demand for housing, as well as the emerging health emergencies there exacerbated by the COVID-19 pandemic;1 a _________________ 1a https://www.eib.org/attachments/general/r eports/eib_activity_report_en.pdf
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