2021/2252(INI) | [ParlTrack]

Draft opinion
Paragraph 1

1. Welcomes the Council’s recognition that a~~n enhanced~~ new European financial architecture for development (EFAD) should follow the ‘policy first’ principle and stresses that the EU’s crucial efforts in development cooperation respecting the interests of partner countries must be consistent with other EU external activities and in line with its strategic interests, its transformation needs, and especially with the EU’s values, including rule of law, democracy, human rights, gender equality and climate;

Amendment 10 #

Draft opinion
Paragraph 2

2. Calls on the Commission to move forward from the current status quo and provide a strong and clear policy steer, under the appropriate political guidance, to ensure consistency of EU action as Team Europe by proposing concrete actions for applying the enhanced EFAD in the successful implementation of European initiatives, such as the Global Gateway strategy, the Green Deal or the Strategic Compass after its adoption, in order to strengthen the EU’s strategic autonomy and promote the EU’s values through its partnerships;

Amendment 11 #

Gabriel MATO, Rosa ESTARÀS FERRAGUT, Francisco José MILLÁN MON, Antonio LÓPEZ-ISTÚRIZ WHITE, Leopoldo LÓPEZ GIL

Draft opinion
Paragraph 2 a (new)

2 a. Welcomes the multi-pillar structure of the EFAD, leveraging on the expertise and role of all of its members, i.e. the European Investment Bank (EIB), the European Bank for Reconstruction and Development (EBRD), European bilateral financing institutions and European development finance institutions; calls for further coordination and cooperation among those EFAD members in line with the Council’s conclusions on EFAD;

Amendment 12 #

Draft opinion
Paragraph 2 a (new)

2 a. Calls for a stronger coordination between the European Commission and the EEAS and EU delegations, specifically in developing countries with the most fragile economies, to facilitate discussions and cooperation with relevant actors on the ground in order to identify the most effective projects;

Amendment 13 #

Jaak MADISON, Bernhard ZIMNIOK, Peter KOFOD

Draft opinion
Paragraph 2 a (new)

2 a. Calls on the Commission to ensure that any development aid granted to developing countries, is made strictly conditional upon the effective implementation of return and readmission agreements;

Amendment 14 #

Gabriel MATO, Rosa ESTARÀS FERRAGUT, Francisco José MILLÁN MON, Antonio LÓPEZ-ISTÚRIZ WHITE, Leopoldo LÓPEZ GIL

Draft opinion
Paragraph 2 b (new)

2 b. Welcomes in this context the EU’s readiness to tackle most pressing global challenges by investing into the sustainable development of the global infrastructure, in particular in green technologies and digital connectivity through the EU Global Gateway, while fully respecting the SDGs, the Paris Agreement and the rights of indigenous peoples and local communities; calls on the Commission to work on an effective governance of the Global Gateway Strategy which has to be taken forward under the overall steer of the President of the Commission, and to coordinate closely in this regard with the HRVP and EEAS, the Council and the European Parliament, making sure that active ownership is given to EU institutions and to Member States under the Team Europe approach;

Amendment 15 #

Draft opinion
Paragraph 2 b (new)

2 b. Stresses that DFIs are encouraged to take more risk in their investment programmes through the European Fund for Sustainable Development Plus (EFSD+), to also reach the most fragile economies; in this respect, calls on the European Commission to play a greater role in helping to develop the supply side of projects, providing support for project preparation and helping DFIs to coordinate, while ensuring the integration of smaller DFIs;

Amendment 16 #

Gabriel MATO, Rosa ESTARÀS FERRAGUT, Francisco José MILLÁN MON, Antonio LÓPEZ-ISTÚRIZ WHITE, Leopoldo LÓPEZ GIL

Draft opinion
Paragraph 3

3. Reaffirms the specific role and responsibility of the European Investment Bank (EIB) as the EU’s financial arm with a global reach; calls for the EIB to be further capitalised on as an exclusively EU-owned tool for reinforcing its operations in support of the EU’s external policy priorities and ensure inclusive association with European development banks and financial institutions under a Team Europe approach; welcomes, in this regard, the establishment of EIB Global;

Amendment 17 #

Draft opinion
Paragraph 3

3. Reaffirms the specific role and responsibility of the European Investment Bank (EIB) as the EU’s financial arm with a global reach; calls for the EIB to be further capitalised on as an exclusively EU-owned tool for reinforcing the EU’s external policy priorities; welcomes, in this regard, the establishment of EIB Global; calls for a strengthening of the EIB's capacities on the ground to work with the European Commission in policy dialogue and project identification;

Amendment 18 #

Draft opinion
Paragraph 3

3. Reaffirms the specific role and responsibility of the European Investment Bank (EIB) as the EU’s financial arm with a global reach; calls for the EIB to be further capitalised on as an exclusively EU-owned tool for reinforcing the EU’s external policy priorities; ~~welcom~~notes, in this regard, the establishment of EIB Global;

Amendment 19 #

Jean-Lin LACAPELLE, Thierry MARIANI

Draft opinion
Paragraph 4

4. Welcomes the significantly enhanced open architecture under the European Fund for Sustainable Development Plus (EFSD+) and calls on the Commission and Member States to provide the EIB, the European Bank for Reconstruction and Development (EBRD), European bilateral financing institutions and European development finance institutions with a reliable and enhanced operational environment, where they can effectively undertake their strengthened roles in external lending operations and mobilise resources from the private sector; is cognizant of the fact that resources of the magnitude required for the relevant initiatives such as the Global Gateway will not be attained in the absence of public and private actors joining forces; calls on the EIB, the EBRD and other European Development Finance Institutions to strengthen cooperation and coordination and to concentrate on their specific added value operations as well as on delivery and development impact on the ground;

Amendment 2 #

Draft opinion
Paragraph 1

1. ~~Welcom~~Takes the Council’s recognition that an enhanced European financial architecture for development (EFAD) should follow the ‘policy first’ principle and stresses that the EU’s crucial efforts in development cooperation must be consistent with other EU external activities and in line with its strategic interests, and especially with the EU’s valuview that solidarity between Member States must be prioritised, and states that the European Union is not intended to be a 'global and international player' as often said or meant to manage development aid for the entire the world; considers that development aid must mainly be provided within the normal framework of cooperation between states;

Amendment 20 #

Gabriel MATO, Rosa ESTARÀS FERRAGUT, Francisco José MILLÁN MON, Antonio LÓPEZ-ISTÚRIZ WHITE, Leopoldo LÓPEZ GIL

Draft opinion
Paragraph 4

4. ~~Welcom~~Notes the significantly enhanced open architecture under the European Fund for Sustainable Development Plus (EFSD+) and calls on the Commission and Member States to provide the EIB, the European Bank for Reconstruction and Development (EBRD), European bilateral financing institutions and European development finance institutions with a reliable and enhanced operational environment based on a solid level playing field in terms of governance and access to EU ressource, where they can effectively undertake their strengthened roles in external lending operations and mobilise resources from the private sector, while ensuring transparency, guaranteeing accountability and proper scrutiny as required by the Global Europe Instrument and through the further improvement of the independent complaints mechanisms and the due diligence framework;

Amendment 21 #

Assita KANKO

Draft opinion
Paragraph 4

4. Welcomes the significantly enhanced open architecture under the European Fund for Sustainable Development Plus (EFSD+) and calls on the Commission and Member States to provide the EIB, the European Bank for Reconstruction and Development (EBRD), European bilateral financing institutions and European development finance institutions with a reliable and enhanced operational environment, where they can effectively undertake their strengthened roles in external lending operations and mobilise resources from the private sector, and where the EIB has the leading role because it is fully EU-owned and is thus more suitable to implement the EU's development policy objectives in line with the "policy first" principle, contrary to the EBRD of which the Russian Federation and Belarus are members;

Amendment 22 #

Draft opinion
Paragraph 4 a (new)

4 a. Welcomes that in the implementation of the EFSD blending projects between 2018 and 2020 the EIB has been the main financer of climate- related EU projects and that the EBRD has led Micro, Small and Medium Enterprises (MSME) support in the neighbourhood;

Amendment 23 #

Gabriel MATO, Rosa ESTARÀS FERRAGUT, Francisco José MILLÁN MON, Antonio LÓPEZ-ISTÚRIZ WHITE, Leopoldo LÓPEZ GIL

Draft opinion
Paragraph 4 b (new)

4 b. Stresses that the EIB, needs to strengthen its capacities to support private sector development in Africa and, in this regard, calls on the EIB to dedicate more funds to African MSMEs through the EFSD+ blended budget;

Amendment 24 #

Gabriel MATO, Rosa ESTARÀS FERRAGUT, Francisco José MILLÁN MON, Antonio LÓPEZ-ISTÚRIZ WHITE, Leopoldo LÓPEZ GIL

Draft opinion
Paragraph 5

5. Notes that the Team Europe approach provides a unique opportunity to leverage EU impact and visibility in the world far more than is currently the case; expresses the need for an inclusive Team Europe spirit to also be put into action in the EFAD; notes that the key to the success of the Team Europe approach is EU policy- guided cooperation and coordination in a transparent and inclusive environment; ~~emphasises that Parliament’s close involvement in the strategic orientation of Team Europe initiatives is key to preserving their democratic legitimacy~~making publicly available information contained in Team Europe Initiatives (TEIs), such as intervention costs, financial instruments deployed and which investments are jointly owned by partner countries; emphasises that Parliament’s close involvement in the strategic orientation of Team Europe initiatives is key to preserving their democratic legitimacy; in this sense, highlights that the European Parliament should further reinforce the EFAD’s functioning under the Team Europe approach by expanding supervisory scope to the whole team;

Amendment 25 #

Draft opinion
Paragraph 5

5. Notes that the Team Europe approach provides a unique opportunity to leverage EU impact and visibility in the world far more than is currently the case to further promote our values and interests, while leaving no one behind; expresses the need for an inclusive Team Europe spirit to also be put into action in the EFAD; notes that the key to the success of the Team Europe approach is EU policy- guided cooperation and coordination in a transparent and inclusive environment; emphasises that Parliament’s close involvement in the strategic orientation of Team Europe initiatives is key to preserving their democratic legitimacy;

Amendment 26 #

Draft opinion
Paragraph 5

Amendment 27 #

Jaak MADISON, Bernhard ZIMNIOK, Peter KOFOD

Draft opinion
Paragraph 5

Amendment 28 #

Draft opinion
Paragraph 5 a (new)

5 a. Recalls that EU Member States are the world's largest donor of development aid; therefore stresses the importance of ensuring that EU taxpayers are able to have access to all information relating to how and on what projects their money is being spent in developing countries; insists that the corrupt use of EU funding should result in an immediate suspension of payments;

Amendment 29 #

Gabriel MATO, Rosa ESTARÀS FERRAGUT, Francisco José MILLÁN MON, Antonio LÓPEZ-ISTÚRIZ WHITE, Leopoldo LÓPEZ GIL

Draft opinion
Paragraph 5 a (new)

5 a. Underlines in this context that the EFAD requires a decentralised approach to be successfully implemented, and thus recalls the need to strengthen the role of EU Delegations as focal points to facilitate upstream discussions with Member States, the EIB, the European Development Finance Institutions, private sector actors and other partners on the ground in a Team Europe approach;

Amendment 3 #

Draft opinion
Paragraph 1 a (new)

1 a. Notes that EFAD is overly complex, indicating gaps and overlaps that undermine the EU's development impact and leadership. In this regard, welcomes the Council conclusions of 4 June 2021, where Member States endorsed the "Status Quo Plus" option to improve the current situation, for more effective cooperation between the EIB and the EBRD, together with DFIs in a "Team Europe" approach; reiterates that the latter could strongly contribute to the EU’s competitiveness in the global financial landscape; calls on the European Commission to encourage Member States to pool resources, finance, coordination and communication in common projects (Team Europe Initiatives);

Amendment 30 #

Gabriel MATO, Rosa ESTARÀS FERRAGUT, Francisco José MILLÁN MON, Antonio LÓPEZ-ISTÚRIZ WHITE, Leopoldo LÓPEZ GIL

Draft opinion
Paragraph 5 a (new)

5 a. Calls on the Commission to ensure the implementation of the conditionality principle by the financing institutions, linking it to the respect for rule of law, human rights and democracy and deeply anchoring it in the EFAD;

Amendment 31 #

Draft opinion
Paragraph 5 a (new)

5 a. Calls for a better geographical balance in the use of the EFSD+ blending and guarantees in line with NDICI and support for least developed and fragile countries, especially in Sub-Saharan Africa;

Amendment 32 #

Draft opinion
Paragraph 5 b (new)

5 b. Underlines that gender equality and, in particular, women’s economic empowerment, alongside with gender mainstreaming in line with the requirements of the Global Europe instrument, need to be in the focus of the EFAD;

Amendment 33 #

Draft opinion
Paragraph 6

6. Recognises that the EFAD is focused on most vulnerable regions and where the needs are greatest, notably least developed and fragile countries, especially in Sub-Saharan Africa, but urges that it be borne in mind that around two thirds of the EIB and EBRD’s combined external operations are concentrated in accession and neighbourhood countries where the EU needs to deliver on the recently launched Economic and Investment Plans for the Western Balkans as well as in the Eastern and Southern Neighbourhoods; calls in this regard for the EIB and EBRD’s operations and role to be strengthened with enhanced cooperation through concrete actions.

Amendment 34 #

Gabriel MATO, Rosa ESTARÀS FERRAGUT, Francisco José MILLÁN MON, Antonio LÓPEZ-ISTÚRIZ WHITE, Leopoldo LÓPEZ GIL

Draft opinion
Paragraph 6

6. Recognises that the EFAD is focused on least developed and fragile countries, especially in Sub-Saharan Africa, but urges that it be borne in mind that around two thirds of the EIB and EBRD’s combined external operations are concentrated in accession and neighbourhood countries where the EU needs to deliver on the recently launched Economic and Investment Plans (EIP) for the Western Balkans as well as in the Eastern and Southern Neighbourhoods in line with the Paris Agreement and strong biodiversity protection, as well as respect for concerned local communities; calls in this regard ~~for~~on the EIB and EBRD~~’s operations and role to be strengthened~~ to strengthen their role.

Amendment 35 #

Draft opinion
Paragraph 6

6. ~~Recognises that the EFAD is focused on least developed and fragile countries, especially in Sub-Saharan Africa, but u~~Urges that it be borne in mind that around two thirds of the EIB and EBRD’s combined external operations are concentrated in accession and neighbourhood countries where the EU needs to deliver on the recently launched Economic and Investment Plans for the Western Balkans as well as in the Eastern and Southern Neighbourhoods; calls in this regard for the EIB and EBRD’s operations and role to be strengthened.

Amendment 36 #

Jean-Lin LACAPELLE, Thierry MARIANI

Draft opinion
Paragraph 6

6. ~~Recognises that the EFAD is focused on least developed and fragile countries, especially in Sub-Saharan Af~~Takes the view that development aid must be subject to strict conditionality criterica, ~~but urges that it be borne in mind that around two thirds of the EIB and EBRD’s combined external oper~~such as the obligation for beneficiary countries to readmit nationals arend co~~ncent~~operate~~d i~~ on tac~~cession and neighbourhood countries where the EU needs to deliver o~~kling illegal immigration; notes that, as highlighted in thewo recently launched Economic and Investment Plans for the Western Balkans as well as in the Eastern and Southern Neighbourhoods; calls in this regard for the EIB and EBRD’s operations and role to be strengthened reports published by the European Court of Auditors, the increase in aid provided to the Eastern Neighbourhood and Western Balkans has only bolstered high-level corruption in the countries in these areas.

Amendment 37 #

Gabriel MATO, Rosa ESTARÀS FERRAGUT, Francisco José MILLÁN MON, Antonio LÓPEZ-ISTÚRIZ WHITE, Leopoldo LÓPEZ GIL

Draft opinion
Paragraph 6 a (new)

6 a. Reminds that the EU’s Instrument for Pre-accession Assistance (IPA III) foresees a strong conditionality and funding must be modulated or even suspended in the case of significant regression or persistent lack of progress in the area of the so-called “fundamentals”, notably in the field of the rule of law and fundamental rights;

Amendment 38 #

Gabriel MATO, Rosa ESTARÀS FERRAGUT, Francisco José MILLÁN MON, Antonio LÓPEZ-ISTÚRIZ WHITE, Leopoldo LÓPEZ GIL

Draft opinion
Paragraph 6 b (new)

6 b. Reiterates that in order to address today’s global challenges, it is essential to make EFAD more relevant, coherent and responsive, but this cannot be at the expense and should adequately cater to the Parliament’s rights of scrutiny over the way the external action funds are used or on setting political priorities;

Amendment 39 #

Gabriel MATO, Rosa ESTARÀS FERRAGUT, Francisco José MILLÁN MON, Antonio LÓPEZ-ISTÚRIZ WHITE, Leopoldo LÓPEZ GIL

Draft opinion
Paragraph 6 c (new)

6 c. Regrets the growing irrelevance of the Latin America and Caribbean regions within the EU policy making, which corresponds to a reduction in the budget allocation for those regions in the Union's financial framework 2021-2027; at the same time is aware that geopolitical impact of funds allocated to any region does not necessarily depend on the overall amount of budget; in this regard, stresses that there must be adequate policy steering from the Commission to ensure that the available instruments offered by the EFSD+ are used to strengthen closer partnerships with the Latin America and Caribbean regions and contribute to their development;

Amendment 4 #

Draft opinion
Paragraph 1 a (new)

1 a. Notes the central role of NDICI- Global Europe, including its European Fund for Sustainable Development Plus (EFSD+), in providing the policy steer and key priorities for the European Financial Architecture for Development (EFAD); is remindful of the need for the European Parliament’s close involvement to enable general orientation and scrutiny of the programming and implementation;

Amendment 5 #

Gabriel MATO, Rosa ESTARÀS FERRAGUT, Francisco José MILLÁN MON, Antonio LÓPEZ-ISTÚRIZ WHITE, Leopoldo LÓPEZ GIL

Draft opinion
Paragraph 1 b (new)

1 b. Recalls that the EFAD shall be based on an inclusive architecture, working with all European development banks and financial institutions, building on their respective expertise and added value, contributing to stronger development impact and additionality; calls on the Commission to propose concrete and timely actions to strengthen cooperation among those actors and to promote inclusive partnerships with smaller European development finance institutions in a Team Europe spirit, including through a tailored approach to support the latter in accessing to financing and in their pillar assessment applications;

Amendment 6 #

Draft opinion
Paragraph 1 b (new)

1 b. Underlines that new players have emerged in global financing, countries that have economic and geopolitical interests often contradicting those of the European Union and opposite to the Union’s concept of democracy, rule of law, peace and sustainability; in this respect calls the EIB, EBRD and other DFIs to create a framework for enhanced cooperation on joint financing projects and platforms and improve the effectiveness of their delivery in countries outside the European Union;

Amendment 7 #

Jaak MADISON, Bernhard ZIMNIOK

Draft opinion
Paragraph 2

Amendment 8 #

Gabriel MATO, Rosa ESTARÀS FERRAGUT, Francisco José MILLÁN MON, Antonio LÓPEZ-ISTÚRIZ WHITE, Leopoldo LÓPEZ GIL

Draft opinion
Paragraph 2

2. Calls on the Commission to move forward from the current status quo and provide a strong and clear policy steer to ensure consistency of EU action as Team Europe by applying the ~~enhanced~~new EFAD in the successful implementation of European initiatives, such as the Global Gateway strategy, the Green Deal or the Strategic Compass after its adoption, in order to strengthen the EU’s strategic ~~autonomy and~~sovereignty, strategic solidarity with like-minded countries, and the Union’s ability to contribute to international stability, security and peace, in particular as regards the promotion and respect for international law, in close cooperation with the UN, NATO, OSCE, AU and partner countries, or if needed, alone and to promote the EU’s values through its partnerships;

Amendment 9 #

Draft opinion
Paragraph 2

2. Calls on the Commission to move forward from the current status quo and provide a strong and clear policy steer to ensure consistency of EU action as Team Europe by applying the enhanced EFAD in the successful implementation of European initiatives, such as the Global Gateway strategy, the Green Deal or the Strategic Compass after its adoption, in order to strengthen the EU’s strategic autonomy and promote the EU’s values through its partnerships; calls on the Commission to duly involve the Parliament in the decisions on the Global Gateway investment programmes and keep it regularly informed about the respective developments, including budgetary implications, as they unfold;

source: 729.979

2022/04/27 BUDG 38 amendments...

Amendment 1 #

Draft opinion
Paragraph 1

1. Welcomes the Council’s conclusions on enhancing the European Financial Architecture for Development and underlines the key role of the ‘Neighbourhood, Development and International Cooperation Instrument – Global Europe‘, the European Fund for Sustainable Development Plus (EFSD+) and the External Action Guarantee in providing a strategic framework for blended finance and guarantees and in mobilising resources from the private sector with the support of the EU budget, especially in light of increasing geopolitical and economic competition; highlights that the new Financial Architecture should support the EU’s strategic interests on the global stage, with values, such as democracy, rule of law, gender equality and human rights as underlying principles; calls on all actors to ensure operations outside the Union are aligned with EU external policy objectives and contribute to achieving the EU’s policy priorities;

Amendment 10 #

Draft opinion
Paragraph 4

4. Calls on the EIB, the EBRD and European development and finance institutions to strengthen their cooperation within the EFSD+ open architecture by taking a Team Europe approach~~; stresses the need for greater specialisation and a better division of labour to ensure synergies and complementaritie~~ defined as a single framework of action, combining their resources with those of all EU institutions and Member States, to provide short and long-term support; underlines that the Financial Architecture should be open, collaborative and inclusive, and enable the participation of all interested development finance actors, including smaller and medium-sized actors; calls, in this regard, on the Commission to simplify access to financing and provide capacity- building and support in pillar assessment applications for smaller development banks and financial institutions; stresses the need for greater specialisation and a better division of labour to ensure synergies and complementarities; encourages European development actors and financing institutions to draw more extensively on EU delegations when building pipelines of investment projects; underlines the need to move away from the current project-based approach towards sector-based programming involving all relevant stakeholders from the start, including the private ~~investors, to increase~~sector and civil society, to increase transparency, leverage and impact;

Amendment 11 #

Draft opinion
Paragraph 4

Amendment 12 #

Charles GOERENS, Moritz KÖRNER, Olivier CHASTEL, Martin HOJSÍK

Draft opinion
Paragraph 4

4. Calls on the EIB, the EBRD and European development and finance institutions to strengthen their cooperation within the EFSD+ open architecture by taking a Team Europe approach; calls in this context for a solid level playing field in terms of governance of the EFSD+ and access to EU resources as key for a fruitful cooperation among European DFIs members of the European Financial Architecture for Development; stresses the need for greater specialisation and a better division of labour to ensure synergies and complementarities; underlines the need to move away from the current project-based approach towards sector-based programming involving all stakeholders from the start, including private investors, to increase leverage and impact;

Amendment 13 #

Draft opinion
Paragraph 4

4. Calls on the Commission, the Member States, the EIB, the EBRD and European development and finance institutions to strengthen their cooperation within the EFSD+ open architecture by taking a Team Europe approach; stresses the need for greater specialisation and a better division of labour to ensure synergies and complementarities; underlines the need to move away from the current project-based approach towards sector-based programming involving all stakeholders from the start, including private investors, to increase leverage and impact;

Amendment 14 #

Draft opinion
Paragraph 4 a (new)

4 a. Stresses that local ownership and a collaborative and inclusive approach is needed, underpinned by a strong framework for systematic local consultations of stakeholders and beneficiaries, to achieve a lasting development impact; asks the Commission to assess how the framework for systematic local consultations of stakeholders and beneficiaries could be further improved;

Amendment 15 #

Draft opinion
Paragraph 4 b (new)

4 b. Underlines the importance of the Sustainable Development Goals (SDG) and the Paris Agreement; stresses that gender-responsive investment, involving women, enhances the effectiveness and sustainability of development policies; calls on the Commission, the EIB, the EBRD and European development finance institutions to ensure their advisory and technical assistance is equipped to advance gender equality and inclusive development, notably by employing gender specialists;

Amendment 16 #

Draft opinion
Paragraph 4 c (new)

4 c. Recognises the expertise of the EBRD and the members of the Association of bilateral European Development Finance Institutions (EDFI) in leveraging and crowding-in private sector capital; considers blended finance an option in the development finance toolbox and recognises the usefulness of these instruments in complementing public investment in a constrained budgetary context; stresses however the risk of missing the target of supporting development of LDCs or fragile or conflict-affected regions, where projects would be less profitable or where budgetary constraints would be so strong that the initial public contribution would not be provided; acknowledges the continued relevance of grant-focused aid in these contexts; calls for careful assessments when channelling blended finance to LDCs, namely with a view to limiting debt burdens and introducing safeguards to preserve the role of public sector entities in delivering services; considers therefore that blended finance rules should be set according to the different development contexts, allowing flexibility in the balance of the blended elements;

Amendment 17 #

Draft opinion
Paragraph 4 d (new)

4 d. Stresses, furthermore, that increasing private sector involvement brings risks and challenges due to the involvement of a variety of implementation partners and the resulting long chain of actors between funder and end beneficiary; calls, therefore, on all EU development finance actors to ensure funds are channelled only to partners that embrace EU values and policy priorities, follow stringent tax, transparency, environmental and social standards and demonstrate a willingness to support development impacts, as opposed to primarily seeking profit maximisation in vulnerable contexts;

Amendment 18 #

Draft opinion
Paragraph 5

5. Reaffirms the privileged role of the EIB as the EU’s investment arm and ~~welcom~~notes the recent creation of its development branch, EIB Global; calls on the EIB to draw on the example of the EBRD and strengthen its presence in the field by recruiting local workers as well as staff dedicated to environmental, human rights and social due diligence, while exploiting possible synergies with other European development and finance institutions; expects this new structure and its advisory board to be fully transparent including proactive publication of documents, and to ensure regular open dialogue with stakeholders, and in particular with civil society organisations;

Amendment 19 #

Draft opinion
Paragraph 5

5. Reaffirms the privileged role of the EIB as the EU’s investment arm and welcomes the recent creation of its development branch, EIB Global; underlines that local presence is key for successful financing operations and calls on the EIB to strengthen its presence in the field while exploiting possible synergies with EU delegations, the EBRD and other European development and finance institutions;

Amendment 2 #

Angelika WINZIG, José Manuel FERNANDES

Draft opinion
Paragraph 1

1. ~~Welcomes~~Takes note of the Council’s conclusions on enhancing the European Financial Architecture for Development (EFAD) and underlines the key role of the ‘Neighbourhood, Development and International Cooperation Instrument – Global Europe‘, the European Fund for Sustainable Development Plus (EFSD+) and the External Action Guarantee in providing a strategic framework for blended finance, de-risking investments and guarantees and in mobilising resources from the private sector with the support of the EU budget; takes notes of the Commission's roadmap for an improved European financial architecture for development and the 2021 progress report; expects the EIB and EBRD to ensure that all projects, and in particular blended finance projects contribute to development goals and benefit the least developed countries;

Amendment 20 #

Draft opinion
Paragraph 5 a (new)

5 a. Underlines the importance of private sector mobilisation that is indispensable for tackling development challenges and to build back better, greener and in a more inclusive approach;

Amendment 21 #

Draft opinion
Paragraph 6

6. Highlights the need for a stronger policy steer from the Commission, with the Western Balkans’ Investment Framework serving as a possible model in this regard; ~~calls on the Commission to use its existing resources in terms of banking expertise and its financial and technical capacities more effectively~~stresses the importance of an adequate risk management framework, effective management and oversight of the implementation of development finance instruments; calls on the Commission to use its existing resources in terms of banking expertise and its financial and technical capacities more effectively; invites the Commission to assess whether further specialised financial expertise is required for the policy steering function, effective engagement with DFIs and oversight of guarantees and complex blended finance instruments;

Amendment 22 #

Draft opinion
Paragraph 6 a (new)

6 a. Notes that EUR 280 billion out of the EUR 300 billion of investments announced under the Global Gateway initiative are not covered by the EU budget, including EUR 135 billion from EFSD+ and EUR 145 billion from European financial and development finance institutions; notes therefore that the initiative depends heavily on its capacity to leverage funds on the capital markets, which will not be immediately delivered; regrets that no information is disclosed so far regarding the NDICI amounts to be dedicated to the Global Gateway under the external action guarantee;

Amendment 23 #

José Manuel FERNANDES

Draft opinion
Paragraph 6 a (new)

6 a. Recognizes the management challenges faced by the Commission and EEAS caused by its staff’s reduced knowledge and capacities concerning development finance institutions; notes that, to add emphasis to development financing on the EU development agenda, and engage effectively with development finance institutions, a shift must take place; welcomes the fact that the Commission has started increasing human resource investments to add staff and upgrade skills to build relevant expertise;

Amendment 24 #

6 b. Expects the additional EUR 750 million amount announced to be made available in annual tranches until 2027 to be detailed by the European Commission ahead of the annual budgetary procedures concerned;

Amendment 25 #

Draft opinion
Paragraph 6 c (new)

6 c. Reminds that the NDICI regulation provides for a financial cushion of EUR 9.53 billion, which should be limited to financing new initiatives, priorities or emerging challenges; stresses that the cushion should not cover projects already agreed under the Global Gateway initiative; considers, therefore, that additional appropriations should be dedicated to the initiative above the limited ceiling for Heading 6;

Amendment 26 #

Draft opinion
Paragraph 7

7. Recognises the importance of encouraging riskier investments in more challenging development settings, such as fragile or conflict-affected countries, and underserved sectors such as the climate, biodiversity and health sectors; underlines, at the same time, the need to preserve the high credit rating of the EIB and to fully protect the EU budget from any associated risks, such as increased demand on the EU budgetary guarantees as well as increased risk of misuse of funds through fraud or corruption; invites the Commission and the EIB to engage in a more granular country-by-country risk assessment for adjusting gradually the EU budgetary guarantees to the adequate levels to cope with current challenges; calls, furthermore, for increased transparency of development operations carried out by financial intermediaries with a view to ensuring control over funds and mitigating the risk of corruption, notably by disclosing final beneficiaries and making the granting of direct and indirect loans subject both to publication by the beneficiaries of tax and accounting data country by country and to the sharing of beneficial ownership data on the beneficiaries and financial intermediaries involved in financing operations;

Amendment 27 #

Draft opinion
Paragraph 7

Amendment 28 #

Draft opinion
Paragraph 7 a (new)

7 a. Recalls the importance of the principle of additionality, according to which contributions must not replace public or equivalent structural expenditure, thus not resulting in a reduction of national structural expenditure; calls for this principle to be better taken into account in future assessments;

Amendment 29 #

Draft opinion
Paragraph 8

8. Highlights the need to increase the transparency of the current framework, including the programming process, and for Parliament to be more heavily involved; recalls that the tripartite agreement gives access to the Court of Auditors to all information related to guarantees from the EU budget; regrets the lack of proper scrutiny from the European Court of Auditors on the EU budgetary guarantees, due to the internal division of competences between Chambers 1 and 2 of the ECA; calls on the ECA to fully scrutinise and regularly report on operations backed by guarantees from the EU budget, and not only when there is a direct risk for the EU budget; underlines the importance of carrying out an independent evaluation of the EFSD+ and the Team Europe approach ~~in due time~~by the end of 2026 to assess their effectiveness and performance.

Amendment 3 #

Draft opinion
Paragraph 1 a (new)

1 a. Notes that the EU is the largest donor in the world; highlights, in this regard, the need to increase the visibility and awareness of the Union’s and Member States’ development actions; encourages all actors relevant to the Financial Architecture to step up their joint engagement in public communication;

Amendment 30 #

Draft opinion
Paragraph 8

8. Highlights the need to increase the transparency of the current framework, including the programming and reporting processes, and for Parliament to be more heavily involved to enhance democratic accountability and scrutiny; underlines the importance of carrying out an independent evaluation of the EFSD+ and the Team Europe approach in due time to assess their effectiveness ~~and performance.~~, performance and development impact; underlines the need to ensure the EFSD+ facilitates learning about best practices concerning sector- and region-specific projects;

Amendment 31 #

Charles GOERENS, Moritz KÖRNER, Olivier CHASTEL, Martin HOJSÍK

Draft opinion
Paragraph 8 a (new)

8 a. Underlines that obtaining relevant, consistent and comparable information in a timely manner is essential for measuring progress and actual results, and in identifying whether EU development finance has been effective and additional; regrets the absence of a unified reporting and results measurement framework for EFSD+ with comparable indicators; encourages the Commission to develop such a framework to enable harmonised results management; invites the Commission to update the European Parliament on the content and implementation of this framework;

Amendment 32 #

Draft opinion
Paragraph 8 a (new)

8 a. Reaffirms that all implementing partners accessing EU budget funds under the EFSD+ must fully apply EU social and environmental standards, polices, rules and procedures. Calls on the European Commission to assess, monitor and report back on these aspects.

Amendment 33 #

Draft opinion
Paragraph 8 a (new)

8 a. Underlines the need to promote better visibility and publicity of the projects and resources provided by EFAD institutions and the EU Budget; regrets the lack of information to citizens concerning the EU’s role in the support to their communities;

Amendment 34 #

Draft opinion
Paragraph 8 a (new)

8 a. Expects upcoming joint lending policies to always use the more stringent standards of either institution;

Amendment 35 #

Draft opinion
Paragraph 8 b (new)

8 b. Looks forward to the ECA special report on Programming of development aid, assessing whether EU development aid for 2021-2027 has been allocated according to a well-defined strategy; stresses the importance of assessing the additionality of blended finance to determine the effectiveness of these instruments in achieving development results and EU values based policy objectives; invites the ECA to consider making such an assessment;

Amendment 36 #

Draft opinion
Paragraph 8 b (new)

8 b. Recalls the EU´s global commitment to defend and promote human rights, which are indivisible, universal and interdependent; expects all involved parties to fully respect the protection of human rights or procedures to prevent human rights violations, despite repeated calls, inter alia from the European Parliament;

Amendment 37 #

Draft opinion
Paragraph 8 b (new)

8 b. Calls on the Commission and EFAD institutions to promote transparency in their procurement procedures; recalls that European enterprises should compete in equal circumstances with other enterprises;

Amendment 38 #

Draft opinion
Paragraph 8 c (new)

8 c. Calls on EFAD to contribute to the full implementation of the third gender action plan; recalls the target of at least 85% of actions with gender equality as a principal or significant objective, of which at least 5% should have gender equality and women’s and girls’ rights and empowerment as a principal objective; calls for an obligation for all EFAD operations to collect gender-disaggregated data, and to have ex-ante as well as ex- post gender impact evaluation;

Amendment 4 #

Draft opinion
Paragraph 2

2. ~~Stres~~Recognises that ~~despite some~~some progress and recent improvements, have been made, but notes that the current status quo is still characterised by a lack of coordination, fragmentation, duplication and continued competition between the European Investment Bank (EIB), the European Bank for Reconstruction and Development (EBRD) and European development and finance institutions; ~~underlines the need~~calls for further efforts to make the current system more efficient, collaborative and visible, and focused ton ensureing an optimal use of resources, a better return on EU taxpayers’ money and a stronger development impact; calls, in this regard, for the strengthening of cooperation among key partners, notably the European Commission, the EIB, the EBRD, European development finance institutions, national development agencies and Member States, leveraging their respective geographical, sectoral and financial expertise, resources and value- added, to achieve greater efficiency and transformational development impact; considers cooperation with non-EU development banks and stakeholders also important and calls for increased engagement with other international financial institutions;

Amendment 5 #

Charles GOERENS, Moritz KÖRNER, Olivier CHASTEL, Martin HOJSÍK

Draft opinion
Paragraph 2

2. ~~Stresses that despite some recent improvements, the current status quo is characterised by a lack of coordination, fragmentation, duplication and continued competi~~Recognises the progress and improvements made under EFAD since the Council’s conclusions in terms of enhancing coordination and cooperation between the European Investment Bank (EIB), the European Bank for Reconstruction and Development (EBRD) and European development and finance institutions; underlines the need to make the current system more efficient and focused to ensure an optimal use of resources, a better return on EU taxpayers’ money and a stronger development impact; calls for further efforts to ensure better coordination and avoid fragmentation, duplication and inefficient competition; calls on the Commission to play a more active role in giving political guidance, in particular clearer policy direction and orientations, for the implementation of the EFAD, to ensure high standards and sound development banking prevail;

Amendment 6 #

Draft opinion
Paragraph 2

2. Stresses that despite some recent improvements, the current status quo is characterised by a lack of policy steer, coordination, fragmentation, duplication and unhelpful continued competition between the European Investment Bank (EIB), the European Bank for Reconstruction and Development (EBRD) and European development and finance institutions; underlines the need to make the current system more efficient and focused to ensure an optimal use of resources, a better return on EU taxpayers’ money and a stronger development impact;

Amendment 7 #

Draft opinion
Paragraph 2 a (new)

2 a. Welcomes the Council’s commitments to steer EFAD towards achieving Agenda 2030, the SDGs and Paris agreement of 1.5°C; recalls the NDICI global climate spending target of 30%, the 7,5% target for biodiversity spending in the MFF in 2024, and calls for prioritisation of projects that create co-benefits and meet multiple objectives; calls for the stringent application of the Do No Significant Harm principle; regrets that the Commission does not provide more specific commitments towards climate policy goals in its roadmap, and expects it to be remedied in an upcoming programming document; calls on banning all operations financing sectors that contribute to the climate crises, mainly the fossil fuel industry;

Amendment 8 #

Draft opinion
Paragraph 3

~~3. Recognis~~Stresses the importance of targeting investments to the most vulnerable regions where the needs are greatest, in particular least developed countries (LDCs) and fragile or conflict- affected countries; welcomes that the European 3. Financial Architecture for Development is mainly focused on least developed and fragile countries, particularly in sub- Saharan Africa; underlines that development finance must be accompanied by coherent measures in other policy domains, which are crucial for LDCs, notably trade, climate, and agriculture; recalls, however, that a considerable share of investments is channelled also to the Western Balkans and the Eastern and Southern Neighbourhood~~, and~~; underlines the need to provide funding to deal with new challenges and support new priorities in these regions; calls on the Commission, the EIB, the EBRD and European development and finance institutions to work on action plans for the reconstruction of Ukraine as soon as it is re-established as a sovereign and independent country after the warnotes, in this context, that the Russian Federation’s illegal, unprovoked and unjustified military aggression against Ukraine has considerably impacted the development landscape and the economic and security situation in the EU and its neighbourhood; expects a share of the Global Europe cushion to be used to address these unforeseen circumstances; calls on the Commission, the EIB, the EBRD and European development and finance institutions to work on action plans for the reconstruction of Ukraine as soon as it is re-established as a sovereign and independent country after the war; recognises furthermore that Russia’s war against Ukraine has increased energy and food prices, exacerbating humanitarian needs especially in low-income countries in sub- Saharan Africa; underlines the urgency of responding to those needs with further funding;

Amendment 9 #

Draft opinion
Paragraph 3

3. Recognises that the European Financial Architecture for Development ishould be mainly focused on least developed and fragile countries, particularly in sub- Saharan Africa; recalls, however, that a considerable share of investments is channelled to the Western Balkans and the Eastern and Southern Neighbourhood, and underlines the need to provide funding to deal with new challenges and support new priorities in ~~these~~least developed regions; calls on the Commission, the EIB, the EBRD and European development and finance institutions to work on action plans for the reconstruction of Ukraine a~~s soon as it is re-established as a sovereign and independent country after the war~~fter the war, to build back better, greener and in a more inclusive approach, without jeopardising development goals for least developed countries;

source: 731.643

2022/05/05 DEVE 201 amendments...

Amendment 1 #

Motion for a resolution
Citation 1 a (new)

— having regard to the Commission's roadmap for an improved European financial architecture for development and 2021 progress report (COM/2022/139 final),

Amendment 10 #

Motion for a resolution
Recital A

A. ~~whereas~~OECD claims that the pre- pandemic SDG annual funding gap in developing countries of USD 2.5 trillion is expected to increase by 70 % post-COVID- 19, to USD 4.2 trillion (EUR 3.7 trillion)6 ; _________________ 6 OECD report of 10 December 2020 entitled ‘Global Outlook on Financing for Sustainable Development 2021: A New Way to Invest for People and Planet’.

Amendment 100 #

Motion for a resolution
Paragraph 9

9. ~~Insists that mechanisms for ensuring~~9. Proposes that policy coherence for sustainable development ~~must be enshrined in EFAD and used more systematically and effici~~should be implementlyed by ~~all~~the relevant EU institutions ~~and all Member States, including at the highest political level~~;

Amendment 101 #

Motion for a resolution
Paragraph 10

~~10. Demands that EFAD be consistent with future EU due diligence and corporate responsibility legislation and that it adhere to the highest standards of transparency and accountability;~~deleted

Amendment 102 #

Charles GOERENS, Barry ANDREWS, Iskra MIHAYLOVA, Jan-Christoph OETJEN, Catherine CHABAUD, María Soraya RODRÍGUEZ RAMOS

Motion for a resolution
Paragraph 10

10. Demands that EFAD be consistent with future EU due diligence and corporate responsibility legislation and that it adhere to the highest standards of transparency and accountability; Calls on the EIB to improve its policies and practices and transparency, in particular by implementing recommendations formulated by the European Ombudsman to “take several transparency steps to enable the public to more easily see the potential environmental impact of the projects it finances”, as set out in cases 1065/2020/PB, 1251/2020/PB, 1252/2020/PB.”

Amendment 103 #

Motion for a resolution
Paragraph 10

10. DAcknowledges the Commission’s efforts for better regulation with the aim of creating long-term sustainable investments which promote health and the well-being of people and planet and protecting human rights; demands that EFAD be consistent with future EU due diligence and corporate responsibility legislation and that it adhere to the highest standards of transparency and accountability;

Amendment 104 #

Motion for a resolution
Paragraph 10

10. Demands that EFAD be consistent with future EU due diligence and corporate responsibility legislation and t~~hat it adhere to~~ o ensure corporate compliance withe h~~ighest standards of transpar~~uman rights standards and regulatory developments, including with regard to mandatory due diligencye, and ~~accountability~~with international commitments on business and human rights;

Amendment 105 #

Charles GOERENS, Barry ANDREWS, Iskra MIHAYLOVA, Jan-Christoph OETJEN, György HÖLVÉNYI, Catherine CHABAUD, María Soraya RODRÍGUEZ RAMOS

Motion for a resolution
Paragraph 11

Amendment 106 #

Motion for a resolution
Paragraph 11

Amendment 107 #

Motion for a resolution
Paragraph 11

11. Believes that the Team Europe approach should play a key role in further improving strategic cooperation and global coordination and the coherence and effectiveness of development efforts, especially at partner-country level, and believes that it has the potential to further identify key issues that need to be solved under EFSD+/Global Europe; further insists on the appropriate implementation of the scrutiny mechanism for the European Parliament to allow for the democratic legitimacy of Team Europe activities;

Amendment 108 #

Motion for a resolution
Paragraph 11

11. Believes that the Team Europe approach should play a key role in further improving strategic cooperation and global coordination and the coherence and effectiveness of development efforts, especially at partner-country level, and believes that it has the potential to further identify key issues that need to be solved; stresses that the Team Europe approach must ensure effective coordination of the development policies of the EU and the Member States, including those of regional governments holding powers in development cooperation;

Amendment 109 #

Charles GOERENS, Barry ANDREWS, Iskra MIHAYLOVA, Jan-Christoph OETJEN, Catherine CHABAUD, María Soraya RODRÍGUEZ RAMOS, Udo BULLMANN

Motion for a resolution
Paragraph 11

Amendment 11 #

Motion for a resolution
Recital A a (new)

A a. whereas the entry into force of the Neighbourhood, Development and International Cooperation Instrument (NDICI) – Global Europe, with an overall budget of EUR 79,5 billion, constitutes a historic change in EU external and development policies, leading to the rationalisation and consolidation of EU development spending, and giving new impetus to greater cooperation between European development actors;

Amendment 110 #

Charles GOERENS, Barry ANDREWS, Iskra MIHAYLOVA, Jan-Christoph OETJEN, György HÖLVÉNYI, Catherine CHABAUD, María Soraya RODRÍGUEZ RAMOS

Motion for a resolution
Paragraph 11 a (new)

11 a. Calls on the Commission to play a stronger role in helping to develop the supply of projects, providing project preparation support and assisting Development Finance Institutions (DFIs) in coordination, while ensuring that smaller DFIs are integrated;

Amendment 111 #

Motion for a resolution
Paragraph 11 a (new)

11 a. Insists that the EFAD should enable inclusiveness and the participation of all interested development finance institutions, including smaller and medium-sized partners;

Amendment 112 #

Charles GOERENS, Barry ANDREWS, Iskra MIHAYLOVA, Jan-Christoph OETJEN, Catherine CHABAUD, María Soraya RODRÍGUEZ RAMOS

Motion for a resolution
Paragraph 12

12. Calls on the Commission to put forward a powerful EU policy direction and to further align the EU development financial institutions’ activities within the new open architecture in order to achieve EU development policy objectives; is of the opinion that the programming process must fully cover the use of EU budgetary guarantees, notably the European Fund for Sustainable Development (EFSD +) ;

Amendment 113 #

Motion for a resolution
Paragraph 12

12. Calls on the Commission to put forward a powerful EU policy direction and to further align the EU development financial institutions’ activities within the new open architecture; is of the opinion that the programming process must fully cover the use of EU budgetary guaranteeroposal for what thematic and geographical areas within development shall be favoured within the new budgetary constraints of the coming years;

Amendment 114 #

Motion for a resolution
Paragraph 12

12. Calls on the Commission to put forward a powerful EU policy direction to coordinate the EFAD and to further align the EU development financial institutions’ activities within the new open architecture; ~~is of the opinion that the programming process must fully cover the use of EU budgetary guarantees;~~

Amendment 115 #

Motion for a resolution
Paragraph 12

12. Calls on the Commission to put forward a powerful EU policy direction and to further align the EU development financial institutions’ activities within the new open, collaborative, transparent and inclusive architecture; is of the opinion that the programming process must fully cover the use of EU budgetary guarantees;

Amendment 116 #

12. Calls on the Commission to put forward a powerful EU ~~policy direction~~development policies and to further align the EU development financial institutions’ activities within the new open architecture~~; is of the opinion that the programming process must fully cover the use of EU budgetary guarante~~ under NIDICI- Global Europe objectives;

Amendment 117 #

Charles GOERENS, Barry ANDREWS, Iskra MIHAYLOVA, Jan-Christoph OETJEN, Catherine CHABAUD, María Soraya RODRÍGUEZ RAMOS

Motion for a resolution
Paragraph 12 a (new)

12 a. Welcomes the publication of the European Commission’s first roadmap for an improved European financial architecture for development and 2021 progress report; recalls that the NDICI- GE requires that the Commission discloses to the Council and the European Parliament the composition, terms of reference and rules of procedure of the technical assessment group (GTAG+) and ensure the impartiality and absence of conflicts of interest of its members; urges that similar measures to ensure transparency and impartiality are put into place for the High-Level expert group which will provide the Commission with recommendations on further accelerating the flow of private capital to low and middle-income countries;

Amendment 118 #

Motion for a resolution
Paragraph 13

13. Calls on the Commission to ensure that EFAD pursues the goal of restoring the multilateral development finance system in order to help put an end to the unsustainable lending practices of some countries operating outside that system which not only threaten the level playing field for the EU and other compliant countries, but also dramatically increase the already high external debt of many developing countries which were made even more vulnerable as a consequence of the COVID-19 pandemic; highlights in that light that the war in Ukraine further worsens the debt burden in many developing countries;

Amendment 119 #

Charles GOERENS, Barry ANDREWS, Iskra MIHAYLOVA, Jan-Christoph OETJEN, Catherine CHABAUD, María Soraya RODRÍGUEZ RAMOS

Motion for a resolution
Paragraph 13

13. Calls on the Commission to ensure that EFAD pursues the goal of restoring the multilateral development finance system in order to help put an end to the unsustainable lending practices of some countries operating outside that system; highlights that LDCs are unable to implement the SDGs without financial support and therefore strongly calls for debt relief measures in line with sustainability commitments;

Amendment 12 #

Motion for a resolution
Recital A b (new)

A b. whereas the European Fund for Sustainable Development Plus (EFSD+), established under the NDICI-Global Europe instrument, provides funding for blending and budgetary guarantee operations, to be implemented by eligible partners in an open and collaborative approach and fully in line with EU policies standards, rules and procedures;

Amendment 120 #

Motion for a resolution
Paragraph 13 a (new)

13 a. Stresses that it is essential that the EFAD prioritizes grants over loans to avoid worsening an already spiralling debt crisis in partner countries, thus enabling them to invest in mitigating the effects of the pandemic, supply chain disruptions and increasing food and energy prices;

Amendment 121 #

Motion for a resolution
Paragraph 13 a (new)

13 a. Calls on the Commission to promote international cooperation in tax matters to fight against tax evasion, illicit financial flows and corruption in order to foster purposeful and sustainable development financing that contributes to reducing inequalities and poverty;

Amendment 122 #

13 b. Underlines the need to simplify the access to financing, strengthen inclusiveness, support smaller actors and promote greater access to public sustainability data, including by developing a shared digital platform to improve accessibility to relevant publicly available sustainability data;

Amendment 123 #

Charles GOERENS, Barry ANDREWS, Iskra MIHAYLOVA, Jan-Christoph OETJEN, Catherine CHABAUD, María Soraya RODRÍGUEZ RAMOS

Motion for a resolution
Paragraph 14

~~14. considers EU taxonomy to be an important tool for achieving the SDGs and the objectives of the Paris Agreement;~~deleted

Amendment 124 #

Motion for a resolution
Paragraph 14

14. cConsiders EU taxonomy to be an important tool for achieving the SDGs and the objectives of the Paris Agreement; calls on the Commission to further develop the EU taxonomy, elaborating on the six environmental objectives established in the Taxonomy Regulation and enacting further delegated acts to that effect; strongly believes that it is imperative that development finance institutions both at EU and Member State level, and private actors active in development, base their activities, in particular also in developing countries, on the new EU taxonomy regime;

Amendment 125 #

Motion for a resolution
Paragraph 14

14. cConsiders ~~EU taxonomy to be an important tool for achieving the SDGs and the objectives of the Paris Agre~~the European Green Deal and its taxonomy for sustainable activities regarding renewable energy sources to be an important tool for achieving the SDGs related to climate change and the environment (e.g. 13, 6 and 14, 12) and the objectives of the Paris Agreement, since it should contribute to the reorientation of capital flows towards sustainable investments and introduce sustainability among the criteria to be taken into account for risk management;

Amendment 126 #

Motion for a resolution
Paragraph 14

14. cConsiders EU taxonomy toshould be an important tool for achieving the SDGs and the objectives of the Paris Agreement; regrets, in this regard, that the inclusion of gas and nuclear power in the EU Taxonomy Complementary Climate Delegated Act does not prevent greenwashing and misleads investors in identifying economic activities that are in line with the EU environmental and climate objectives;

Amendment 127 #

Motion for a resolution
Paragraph 14 a (new)

14 a. Underlines the multi-pillar structure of the EFAD, leveraging the expertise and role of all of its members, i.e. the European Investment Bank (EIB), the European Bank for Reconstruction and Development (EBRD), European bilateral financing institutions and European development finance institutions; calls on EFAD members to strengthen the due diligence of their operations, ensure meaningful consultation of the local population throughout the implementation of the projects, further develop their development expertise and dedicated capacity and human resources on the ground, implement gender mainstreaming and protect human rights in all operations, be equipped with solid accountability mechanisms for impacted communities and closely monitor, and report on, the shortcomings of their involvement and the role of their intermediaries in projects which have negatively impacted local populations in developing countries;

Amendment 128 #

Motion for a resolution
Paragraph 14 a (new)

14 a. Notes the particular importance of EU investments in the field of agriculture, where private investments are lacking due to the high risk of investments;

Amendment 129 #

Charles GOERENS, Barry ANDREWS, Iskra MIHAYLOVA, Jan-Christoph OETJEN, Catherine CHABAUD, María Soraya RODRÍGUEZ RAMOS

Motion for a resolution
Paragraph 14 a (new)

14 a. Urges the EU to refrain from scaling up blended finance and adopt a cautious and evidence-based approach towards blended finance;

Amendment 13 #

Motion for a resolution
Recital A c (new)

A c. whereas Russia’s war in Ukraine has drastically exacerbated the situation of SDGs in Ukraine and its neighbouring countries; whereas the current Russian aggression in Ukraine will impact the worldwide implementation of the SDGs, especially concerning the fight against poverty and hunger, which raise the risks of growing civil unrest, conflicts and irregular migration; whereas the humanitarian consequences caused by the criminal act of Putin’s war significantly deviate the already scarce resources of development aid; whereas the long term consequences of this war are yet unknown.

Amendment 130 #

Motion for a resolution
Paragraph 14 b (new)

14 b. Underlines the need for EU investments to contribute to improving local agricultural production capacities and supply chains;

Amendment 131 #

Motion for a resolution
Paragraph 14 c (new)

14 c. Emphasises that local farmers, small holders and family farms need to have access to financial services, and in particular to micro-financing, in order to have the means to make farming resistant to climate-related challenges, while improving productivity, increase income and be able to innovate;

Amendment 132 #

György HÖLVÉNYI, Tomas TOBÉ, Hildegard BENTELE

Motion for a resolution
Paragraph 14 d (new)

14 d. Notes that the lack of market access due to connectivity issues is one of the main barriers to food security in many regions in Africa; considers that EU investments in this field could have a strong impact;

Amendment 133 #

Motion for a resolution
Subheading 3 a (new)

Notes that there is a need to adapt the working methods and tools of the European Investment Bank (EIB) and the European Bank for Reconstruction and Development (EBRD) to the investment needs in Africa, particularly through providing more risk capital and guarantees in order to facilitate large scale investments while maintaining EU support for smaller scale local projects; points out that it is crucial that European investments are accompanied by a visible presence of the EU and continuous political dialogue;

Amendment 134 #

György HÖLVÉNYI, Tomas TOBÉ, Hildegard BENTELE

Motion for a resolution
Paragraph 14 a (new)

14 a. Welcomes that EFAD is based on the expertise and existing networks of all its different members (i.e. the European Investment Bank (EIB), the European Bank for Reconstruction and Development (EBRD), European Development Finance Institutions (EDFI)) and calls for the further development of their coordination and cooperation, also taking into consideration the Council’s conclusions on EFAD;

Amendment 135 #

Motion for a resolution
Subheading 3 b (new)

Underlines that SMEs have an important role in achieving the SDGs and therefore need to have easy access to financial services in the EFAD framework; notes that EU policies need to encourage the cooperation of companies and enterprises, particularly SMEs, to play an active role in initiatives contributing to sustainable development in developing countries;

Amendment 136 #

Beata KEMPA, Ryszard CZARNECKI

Motion for a resolution
Paragraph 15

15. reaffirms the European Investment Bank’s specific role – which is set out in Article 209 of the Treaty on the Functioning of the European Union and in Article 36 of the ‘Neighbourhood, Development and International Cooperation Instrument – Global Europe’ – as the EU’s financial arm with a global reach; stresses that the EIB, as a fully EU- owned institution, is thus more appropriate for implementing the EU’s development policy objectives in line with the ‘policy first’ principle, as opposed to the EBRD, of which Russia and Belarus are members;

Amendment 137 #

Charles GOERENS, Barry ANDREWS, Iskra MIHAYLOVA, Jan-Christoph OETJEN, Catherine CHABAUD, María Soraya RODRÍGUEZ RAMOS

Motion for a resolution
Paragraph 15

15. rReaffirms the European Investment Bank’s specific role – which is set out in Article 209 of the Treaty on the Functioning of the European Union and in Article 36 of the ‘Neighbourhood, Development and International Cooperation Instrument – Global Europe’ – as the EU’s financial arm with a global reach, delivering EU investments and partnering with the European Commission in implementing the Global Gateway;

Amendment 138 #

Motion for a resolution
Paragraph 15

15. rReaffirms the European Investment Bank’s specific role –within the EU and globally, which is set out in Article 209 of the Treaty on the Functioning of the European Union and in Article 36 of the ‘Neighbourhood, Development and International Cooperation Instrument – Global Europe’ ~~– as the EU’s financial arm with a global reach~~;

Amendment 139 #

Motion for a resolution
Paragraph 15 a (new)

15 a. Calls on the European Commission to support further coordination between the European Union, the Member States — including their implementing agencies and public development banks —, as well as the European Investment Bank (EIB) and the European Bank for Reconstruction and Development (EBRD) and to encourage them to pool resources, finance, coordination and communication in common projects, particularly under the Team Europe approach;

Amendment 14 #

Motion for a resolution
Recital B

B. whereas achieving the SDGs and the goals of the Paris Agreement and addressing ~~other acute global challenges requires joint engagement at international level;~~ the various impacts from the continuing pandemic, the war in Ukraine, worsening climate change and other acute global challenges requires joint engagement at international level; whereas the debt burden of partner countries has dramatically increased because of these impacts;

Amendment 140 #

Motion for a resolution
Paragraph 16

16. Recognises the EIB’s flagship role in the European Green Deal and its substantial contribution to the EU’s economic response to the COVID-19 pandemic; calls for the EU to further maximise the potential of the EIB as a tool to leverage the EU’s strategic autonomy and promote its external policy interests and priorities in its relations with non-EU countries;deleted

Amendment 141 #

Motion for a resolution
Paragraph 16

16. Recognises the EIB’s ~~flagship~~ role in the European Green Deal and its substantial contribution to the EU’s economic response to the COVID-19 pandemic; calls for the EU to further maximise the potential of the ~~EIB as a tool to leverage the EU’s strategic autonomy and promote its external policy interests and priorities in its~~inclusive approach of the EFAD, with all EFAD members supporting the EU’s development policy objectives as well as international human rights standards and climate commitments in their relations with non-EU countries;

Amendment 142 #

Motion for a resolution
Paragraph 16

16. Recognises the EIB’s ~~flagship~~important role in the implementation of the European Green Deal and ~~its substantial contribution to~~ the EU’s economic response to the COVID-19 pandemic; calls for the EU to ~~further maximise~~exploit the potential of the EIB as a tool to leverage the EU’s strategic autonomy and promote its external and development policy interests and priorities in its relations with non-EU countries;

Amendment 143 #

Motion for a resolution
Paragraph 17

17. ~~Welcom~~Notes the setting-up of EIB Global, a dedicated development branch within the EIB Group, which has been operational since 1 January 2022; notes that Member States will not allocate new resources to the new branch for its development role, although it brings about changes such as the establishment of regional hubs, starting with Kenya, and a new governance body; stresses that a lack of commitment towards targeted resources jeopardises the mandate of EIB Global from the start; calls, therefore, on a concrete and strong development mandate of the new EIB Global, which specifies the criteria to assess the development orientation of a project and the processes in place to ensure compliance with these orientations; calls on the new branch to ensure full transparency, meaningful representation from recipient countries as well as better involvement of civil society through extensive dialogue with a broad range of actors including Civil Society Organisations (CSOs);

Amendment 144 #

Motion for a resolution
Paragraph 17

17. Welcomes the setting-up of EIB Global, a dedicated development branch within the EIB Group, which has been operational since 1 January 2022; points out that the governance structure of the new branch needs to be fully transparent and designed to enable meaningful representation from recipient countries and to facilitate an extensive dialogue with Civil Society Organisations;

Amendment 145 #

Charles GOERENS, Barry ANDREWS, Iskra MIHAYLOVA, Jan-Christoph OETJEN, Catherine CHABAUD, María Soraya RODRÍGUEZ RAMOS

Motion for a resolution
Paragraph 17

17. Welcomes the setting-up of EIB Global, a dedicated development branch within the EIB Group, which has been operational since 1 January 2022; calls for more clarity on budget provisions, organisational functioning and specific goals of the branch as well as its coordination mechanisms with other financial development institutions;

Amendment 146 #

Motion for a resolution
Paragraph 17

17. Welcomes the setting-up of EIB Global, a dedicated development branch within the EIB Group, which has been operational since 1 January 2022, hopes that this new branch will enable the EIB to enhance its local presence and become more involved and be more effective in financing for development at country level ;

Amendment 147 #

Motion for a resolution
Paragraph 17

17. ~~Welcom~~Notes the ~~setting-up~~creation of EIB Global, a dedicated development branch within the EIB Group, which has been operational since 1 January 2022;

Amendment 148 #

Motion for a resolution
Paragraph 18

Amendment 149 #

Charles GOERENS, Barry ANDREWS, Iskra MIHAYLOVA, Jan-Christoph OETJEN, Catherine CHABAUD, María Soraya RODRÍGUEZ RAMOS, Udo BULLMANN

Motion for a resolution
Paragraph 18

18. Encourages the EIB to continue to ~~actively engag~~play its role in developing planning, monitoring and evaluation at country level, ~~hand in hand with the EU~~closely cooperating with the EU institutions and delegations and through co-financing with development finance institutions;

Amendment 15 #

Motion for a resolution
Recital B

B. whereas leadership and efforts from the EU alone to achieve achieving the SDGs and the goals of the Paris Agreement and addressing other acute global challenges are~~quires~~ not sufficient, and hence joint engagement at international level is required;

Amendment 150 #

Motion for a resolution
Paragraph 18 a (new)

18 a. Welcomes the partnership of the EBRD, as the multi-lateral development Bank; notes that the multi-lateral background of the EBRD, pooling together expertise from EU and non-EU countries alike, is of particular importance, notably to increase EU engagement in Central Asia and in North Africa; calls for considering this aspect when formulating the EFAD;

Amendment 151 #

Motion for a resolution
Paragraph 18 a (new)

18 a. Insists that the EIB should avoid financing projects implemented by transnational companies and financial intermediaries that do not prioritize development projects, such as private equity funds, and should prevent companies controlled by entities located in countries listed on the EU blacklist of prohibited jurisdictions from accessing EIB financing;

Amendment 152 #

Motion for a resolution
Paragraph 18 b (new)

18 b. Underlines that all EIB operations must clearly justify their contribution to the EU development policy objectives and that intensive ex ante impact assessments on human rights should be carried out for every project funded by the EIB;

Amendment 153 #

Charles GOERENS, Barry ANDREWS, Iskra MIHAYLOVA, Jan-Christoph OETJEN, Catherine CHABAUD, María Soraya RODRÍGUEZ RAMOS

Motion for a resolution
Paragraph 19

19. Encourages the EIB and the European Bank for Reconstruction and Development to further reinforce their complementarity and their business models through greater mutual reliance initiatives; 19. Encourages the EIB and the European Bank for Reconstruction and Development (EBRD) to further reinforce their complementarity and their business models through greater mutual reliance initiatives; calls on the EIB and the EBRD to better formalise their division of labour in order to help each bank to automatically focus on its respective core competencies, thus avoiding duplication and undercutting which would result in further competition and fragmentation in the implementation of the SDGs and the Paris Agreement;

Amendment 154 #

Motion for a resolution
Paragraph 19

Amendment 155 #

Motion for a resolution
Paragraph 20

~~20. Encourages the EIB, the European Bank for Reconstruction and Development and the European development banks and financial institutions to strengthen their cooperation;~~deleted

Amendment 156 #

Motion for a resolution
Paragraph 20

20. 20. Encourages the EIB, the European Bank for Reconstruction and Development and the European development banks and financial institutions to strengthen their cooperation; calls on the EIB and EBRD to strengthen the due diligence on their operations in developing countries, ensure meaningful consultation of the local population, further develop their development expertise, focus on gender inequalities, ensure that all their operations promote and protect human, social and environmental rights and are accompanied by solid accountability mechanisms for impacted communities;

Amendment 157 #

Motion for a resolution
Paragraph 20

20. Encourages the EIB, the European Bank for Reconstruction and Development and the European development banks and financial institutions to strengthen their cooperation, in order to avoid fuelling further the competition within the EFAD multi-pillar structure, as it would undermine the objectives of effective development cooperation when it comes to reducing poverty and achieving sustainable development;

Amendment 158 #

Charles GOERENS, Barry ANDREWS, Iskra MIHAYLOVA, Jan-Christoph OETJEN, György HÖLVÉNYI, Catherine CHABAUD, María Soraya RODRÍGUEZ RAMOS

Motion for a resolution
Paragraph 20

20. Encourages the EIB, the European Bank for Reconstruction and Development and the European development banks and financial institutions to strengthen their cooperation in the framework of NDICI- Global Europe and its objectives, as well as in globally achieving the Goals of the Agenda 2030;

Amendment 159 #

Motion for a resolution
Paragraph 20

20. Encourages the EIB, the European Bank for Reconstruction and Development and the European development banks and financial institutions to strengthen their cooperation, drawing on their respective financial expertise, added value and resources ;

Amendment 16 #

Motion for a resolution
Recital B

B. whereas achieving the SDGs and the goals of the Paris Agreement and addressing other ~~acute~~ global challenges ~~requires~~may benefit from a joint engagement at international level;

Amendment 160 #

Motion for a resolution
Paragraph 20

20. Encourages the EIB, the European Bank for Reconstruction and Development and the European development banks and financial institutions to strengthen their cooperation, both at strategic and technical level;

Amendment 161 #

Motion for a resolution
Paragraph 20 a (new)

20 a. Stresses that the EIB new Environmental and Social Standard Framework (ESSF) falls short of improving the orientation of the bank in these fields; calls on the ESSF to ensure the protection and promotion of human rights on the basis of a clear system of human rights due diligence and a stand- alone Human Rights Impact Assessment in cases where high human rights risks are identified or in case a project is likely to have a human rights impact; urges the ESSF to also require appropriate assessments for projects outside the EU, which may impact legally protected and internationally recognised areas of biodiversity value, and to specify that the most endangered ecosystems should be totally excluded if there is a possibility of financing environmentally, and/or socially harmful activities, including notably extractive industries; calls on EIB’s intermediaries to always refer high- risk sub-projects to the EIB for review and approval and to disclose environmental information on these projects for public scrutiny and accountability; likewise, calls for the EIB’s accountability for its intermediated projects, instead of leaving final beneficiaries to self-police, as the current ESSF allows;

Amendment 162 #

Charles GOERENS, Barry ANDREWS, Iskra MIHAYLOVA, Jan-Christoph OETJEN, Catherine CHABAUD, María Soraya RODRÍGUEZ RAMOS

Motion for a resolution
Paragraph 21

21. Calls on the EIB to work more closely with the African Development Bank and establish a joint subsidiary to finance long-term investments that foster sustainable development and develop further sustainable growth opportunities for the African continent;

Amendment 163 #

Motion for a resolution
Paragraph 21

21. Calls on the EIB to work more closely with the African Development Bank to finance long-term investments that foster sustainable development, building on cooperation to date;

Amendment 164 #

Motion for a resolution
Paragraph 21 a (new)

21 a. Encourages the creation of project and advisory hubs, jointly operated by EIB and ADB, to create effective contact points for advice and project initiation for local actors and to better match the development needs on the ground as well as improve local ownership for common development projects;

Amendment 165 #

Motion for a resolution
Paragraph 22

~~22. Calls on Member States’ development finance institutions to further expand microcredit facilities to support sustainable loans;~~deleted

Amendment 166 #

Motion for a resolution
Paragraph 22

22. Calls on Member States’ development finance institutions to further expand ~~microcredit facilities~~financial inclusion to support access to sustainable ~~loans~~finance to those most in need, including women as it contributes to their economic empowerment;

Amendment 167 #

Motion for a resolution
Paragraph 23

23. Encourages ~~sustained engagement by~~ all development banks and institutions~~, and a more flexible approach to risk and~~ to make sustainable commitments and bold investments in line with development policy objectives, in particular the reduction of inequalities and the eradication of poverty, rather than in terms of return on investment;

Amendment 168 #

23. Encourages sustained engagement by all development banks and institutions, and a more flexible approach to risk and return on investment; particularly by engaging in more fragile and poorer countries;

Amendment 169 #

Motion for a resolution
Paragraph 24

~~24. Recognises the importance and potential of Member State development banks within the EFAD structure; stresses the pressing need to boost private sector development in sub-Saharan Africa;~~deleted

Amendment 17 #

Motion for a resolution
Recital B a (new)

B a. whereas climate change, the consequences of Covid-19 and violent conflicts are sources of further crises and call for a reinforced European answer, both politically and financially, in the area of development policy in order to ensure that the EFAD is able to channel these emerging challenges;

Amendment 170 #

Motion for a resolution
Paragraph 24

24. Recognises the importance and potential of Member State development banks within the EFAD structure; stresses the pressing need to boost private sector development in sub-Saharan Africa; , with special regard for building industrial capacity in green energy industries, boosting the manufacturing capacity of medical equipment and enabling the development of regional supply chains;

Amendment 171 #

Beata KEMPA, Ryszard CZARNECKI

Motion for a resolution
Paragraph 24

24. Recognises the importance and potential of Member State development banks within the EFAD structure; stresses the ~~pressing~~ need to boost private and public sector development in sub-Saharan Africa; Stresses the need for the EFAD to support developing countries to invest in public services such as public and free health and education systems, and in developing social protection systems;

Amendment 172 #

Motion for a resolution
Paragraph 24

24. Recognises the importance and potential of Member State development banks within the EFAD structure; calls for an inclusive approach to Member States’ development banks in accessing funding under the European development finance architecture; stresses the pressing need to boost private sector development in sub‐Saharan Africa;

Amendment 173 #

Charles GOERENS, Barry ANDREWS, Iskra MIHAYLOVA, Jan-Christoph OETJEN, Catherine CHABAUD, María Soraya RODRÍGUEZ RAMOS

Motion for a resolution
Paragraph 24

24. Recognises the importance and potential of Member State development banks within the EFAD structure; stresses the ~~pressing need to boos~~important role that private sector development in sub-Saharan Africa can play for empowering partner countries to set themselves on a path to sustainable development;

Amendment 174 #

Motion for a resolution
Paragraph 24

24. Recognises the importance and potential of Member State development banks within the EFAD structure; stresses the pressing need to boost private sector development in sub-Saharan Africa and the difficulties encountered in serving this area of development cooperation;

Amendment 175 #

Motion for a resolution
Paragraph 24

Amendment 176 #

Motion for a resolution
Paragraph 25

25. Calls on the Commission to report annually on Team Europe initiatives and ensure the report is shared with the European Parliament and made public; stresses that the European Parliament has a key role to play in scrutinising the political objectives and expected results of TEIs both at general and project levels, ensuring that TEIs work alongside existing mechanisms and complement rather than supplement the multi-annual indicative programmes, and making sure that partner country ownership is being taken into account; stresses that the EP should ensure that adequate investment is assigned to independent evaluations of the TEIs and that the results are publicly communicated;

Amendment 177 #

Charles GOERENS, Barry ANDREWS, Iskra MIHAYLOVA, Jan-Christoph OETJEN, Catherine CHABAUD, María Soraya RODRÍGUEZ RAMOS

Motion for a resolution
Paragraph 25

25. Calls on the Commission to report annually on Team Europe initiatives based on quantitative and qualitative indicators within the framework of NDICI- Global Europe, its parliamentary scrutiny mechanisms and in relation to the achievement of the Agenda 2030;

Amendment 178 #

Motion for a resolution
Paragraph 25

25. Calls on the Commission to report annually on Team Europe initiatives evaluating the resources mobilised, development planning and impact, harmonisation and application of EU standards, the EU integration perspective and Member States’ involvement ;

Amendment 179 #

Motion for a resolution
Paragraph 26

26. Reiterates that institutional control and scrutiny of EU funding fosters democratic debate and helps to boost the credibility ~~of the EU; calls for obligations ensuring~~and transparency of the EU; highlights the important role of the European Parliament in that regard; calls for appropriate visibility of the implementation of EFAD and calls on the Commission to take action where those ~~obligat~~provisions are not met;

Amendment 18 #

Motion for a resolution
Recital B b (new)

B b. whereas, also in view of the sustainable development of the global south, it is of prime importance that world energy flows are reorganised in the future and that the African continent plays an important role; whereas strengthening its role with regard to sustainable energy production, use and exports provides the chance for future-oriented and sustainable economic development and could improve the living conditions for the broad majority of the population;

Amendment 180 #

Charles GOERENS, Barry ANDREWS, Iskra MIHAYLOVA, Jan-Christoph OETJEN, Catherine CHABAUD, María Soraya RODRÍGUEZ RAMOS

Motion for a resolution
Paragraph 26

26. Reiterates that institutional control and scrutiny of EU funding fosters democratic debate and helps to boost the credibility of the EU; ~~calls for obligations ensuring appropriate visibility of~~in this regard, stresses that the European Parliament should use its scrutiny role under NDICI- Global Europe to monitor and question the implementation of the EFAD and ~~calls on the Commission to take action where those obligations are not met~~the work of the EU financial institutions involved;

Amendment 181 #

Motion for a resolution
Paragraph 26

26. Reiterates that institutional control and scrutiny of EU funding fosters democratic debate and helps to boost the credibility of the EU; calls for obligations ensuring appropriate visibility of the implementation of EFAD and calls on the Commission to take action in an appropriate and timely manner where those obligations are not met;

Amendment 182 #

Motion for a resolution
Paragraph 26

26. Reiterates that institutional control and scrutiny of ~~EU funding fosters democratic debate and helps to boost the credibility of the EU~~Member State funding, administered by the EU, is a necessity in order to ensure maximum impact of funds committed; calls for obligations ensuring appropriate visibility of the implementation of EFAD and calls on the Commission to take action where those obligations are not met;

Amendment 183 #

Motion for a resolution
Paragraph 26 a (new)

26 a. Calls on the European Court of Auditors to carry out regular reports on the implementation of the EFAD, which will be made public and lead to policy recommendations including on actions to be taken for improvements;

Amendment 184 #

Motion for a resolution
Subheading 4 a (new)

Recalls how the economic policies and the so called "structural reforms" promoted in the last decades by the international financial institutions like IMF and the World Bank have increased African and developing countries dependence on debt, privatized common and strategic goods and weakened public sectors, increased social inequalities and the precariousness of work; demands that the EFAD promotes a different path promoting a fair and sustainable economic model in partner countries;

Amendment 185 #

Charles GOERENS, Barry ANDREWS, Iskra MIHAYLOVA, Jan-Christoph OETJEN, Catherine CHABAUD, María Soraya RODRÍGUEZ RAMOS

Motion for a resolution
Subheading 4 a (new)

Emphasises that Policy Coherence for Development needs to be mainstreamed in EU external policies; notes, furthermore, that trade, investment and job creation are a vital part of EU engagement for development and are contributing to sustainable development; notes that possible shortcomings of these policy areas need to assessed and addressed in order to achieve the SDGs;

Amendment 186 #

Motion for a resolution
Paragraph 27

27. iInsists that the Member States honour their commitment to spend 0.7 % of their gross national income on ODA; is alarmed that, in 2020, official development assistance from advanced economies was on average just 0.32% of their gross national income – less than half of the 0.7% commitment 1a , whilst the impact of the war in Ukraine on government spending around the globe will put further pressure on aid budgets which are already low; underlines the important role of ODA as a catalyst for change and a lever for the mobilisation of other resources; stresses the importance of the EU’s commitment to mobilise resources for climate action and the EIB’s role in making progress in this area as well as to help meet climate targets, eradicate poverty and increase healthcare;

Amendment 187 #

György HÖLVÉNYI

Motion for a resolution
Paragraph 27

27. iInsists that the Member States honour their commitment to spend 0.7 % of their gross national income on ODA; notes that Member States which joined the EU after 2002 committed that they will strive to increase their ODA/GNI to 0.33%; welcomes the efforts these Member States made so far to gradually scale up their ODA spending; encourages them to continue on this track; underlines the important role of ODA as a catalyst for change and a lever for the mobilisation of other resources; stresses the importance of the EU’s commitment to mobilise resources for climate action and the EIB’s and other EFAD members' role in making progress in this area;

Amendment 188 #

Beata KEMPA, Ryszard CZARNECKI

Motion for a resolution
Paragraph 27

27. insists that the Member States honour their commitment to spend 0.7 % of their gross national income on ODA; underlines the important role of ODA as a catalyst for change and a lever for the mobilisation of other resources; considers that the European Union should strive to maintain its position as a world leader in ODA; stresses the importance of the EU’s commitment to mobilise resources for climate action and the EIB’s role in making progress in this area;

Amendment 189 #

Motion for a resolution
Paragraph 27

27. iInsists that the Member States honour their commitment to spend 0.7 % of their gross national income on ODA; underlines the important role of ODA as a catalyst for change and a lever for the mobilisation of other resources; recalls that at least 93 % of the expenditure under NDICI-GE shall fulfil the criteria for ODA; stresses the importance of the EU’s commitment to mobilise resources for climate action and ~~the EIB’s~~all EFAD members’ role in making progress in this area;

Amendment 19 #

Motion for a resolution
Recital C

C. whereas policy coherence and close cooperation between all official development finance institutions, their government shareholders and all existing partners is urgently needed; whereas the successful mobilisation of further capital, both private and public, in addition to official development assistance (ODA) and other existing forms of development finance, is critical, but needs to be aligned with development policy objectives especially in view of reducing inequalities and poverty reduction as the first goal of the Agenda 2030;

Amendment 190 #

Motion for a resolution
Paragraph 27

27. Strongly regrets that only four Member States attain at least 0.7% of their ODA/GNI ratio; insists that all the Member States honour their commitment to spend 0.7 % of their gross national income on ODA; underlines the important role of ODA as a catalyst for change and a lever for the mobilisation of other resources; stresses the importance of the EU’s commitment to mobilise resources for climate action and the EIB’s role in making progress in this area;

Amendment 191 #

Motion for a resolution
Paragraph 27

27. insists that the Member States honour their commitment to spend 0.7 % of their gross national income on ODA; underlines the important role of ODA as a catalyst for change and a lever for the mobilisation of other resources; stresses the importance of the EU’s commitment to mobilise resources for climate action and the EIB’s role in making progress in this areaNotes the urgent need of the Member States to drastically reduce their funding for ODA, as new challenges have arisen to ensure peace, prosperity and innovation possibilities within the Member States;

Amendment 192 #

Motion for a resolution
Paragraph 27

27. iInsists that the Member States honour their commitment to spend 0.7 % of their gross national income on ODA; underlines the important role of ODA as a catalyst for change and a lever for the mobilisation of other resources; stresses the importance of the EU’s commitment to mobilise resources for climate action ~~and the EIB’s role in making progress in this area~~;

Amendment 193 #

Charles GOERENS, Barry ANDREWS, Iskra MIHAYLOVA, Jan-Christoph OETJEN, Catherine CHABAUD, María Soraya RODRÍGUEZ RAMOS

Motion for a resolution
Paragraph 27 a (new)

27 a. Calls for a stronger coordination between the European Commission and the EEAS and EU delegations, particularly in developing countries with the most fragile economies, to facilitate discussions and cooperation with relevant actors on the ground in order to identify the most effective projects;

Amendment 194 #

Motion for a resolution
Paragraph 27 a (new)

27 a. Stresses the need for crowding in private capital in order to help tackling the existing 2.5 trillion dollars gap identified for meeting the SDGs by 2030, and in order to finance investments in the most vulnerable regions and LDCs, where needs are the greatest;

Amendment 195 #

Charles GOERENS, Barry ANDREWS, Iskra MIHAYLOVA, Jan-Christoph OETJEN, György HÖLVÉNYI, Catherine CHABAUD, Udo BULLMANN, María Soraya RODRÍGUEZ RAMOS

Motion for a resolution
Paragraph 27 b (new)

Amendment 196 #

Motion for a resolution
Paragraph 27 b (new)

27 b. Highlights that the EFAD requires a close-to ground approach, and thus calls for the facilitation of policy discussions with partner countries, Member States, private sector and EFAD members to better adapt EU financing to local needs;

Amendment 197 #

Motion for a resolution
Paragraph 27 c (new)

27 c. Calls on the Commission to establish a link between possible de- risking activities and financial support for access to education and vocational training, particularly for the purpose of establishing proper infrastructure and training for teachers, under the Neighbourhood, Development and International Cooperation Instrument (NDICI) – Global Europe, in order to facilitate achieving SDG 4;

Amendment 198 #

Charles GOERENS, Barry ANDREWS, Iskra MIHAYLOVA, Jan-Christoph OETJEN, Catherine CHABAUD, María Soraya RODRÍGUEZ RAMOS

Motion for a resolution
Paragraph 28

Amendment 199 #

Motion for a resolution
Paragraph 28

28. Takes note of the two-pillar solution for addressing the tax challenges arising from the digitalisation and globalisation of the economy, as agreed by the members of the OECD/G20 Inclusive Framework on Base Erosion and Profit Shifting; calls on the EU and its Member States to ensure that the agreed global minimum corporate tax rate of 15% for Multinational Enterprises is effectively applied; underlines that this minimum tax is estimated to generate around USD 150 billion in additional global tax revenues annually;

Amendment 2 #

Charles GOERENS, Barry ANDREWS, Iskra MIHAYLOVA, Jan-Christoph OETJEN, Catherine CHABAUD, María Soraya RODRÍGUEZ RAMOS, Udo BULLMANN

Motion for a resolution
Citation 7 a (new)

— having regard to the report by the High-Level Group of Wise Persons on the European financial architecture for development, ‘Europe in the World - The future of the European Architecture for Development’ of October 2019,

Amendment 20 #

Motion for a resolution
Recital C

C. whereas, for the actual achievement of the SDGs and overcoming the COVID-19 pandemic, policy coherence and close cooperation between all official development finance institutions, their government shareholders and all existing partners is urgently needed to ensure that scarce public money is used in the most effective and efficient way; whereas the successful mobilisation of further capital, both private and public, in addition to official development assistance (ODA) and other existing forms of development finance, is critical;

Amendment 200 #

Motion for a resolution
Paragraph 28

28. Takes note of the two-pillar solution for addressing the tax challenges arising from the digitalisation and globalisation of the economy, as agreed by the members of the OECD/G20 Inclusive Framework on Base Erosion and Profit Shifting as the main tool adopted to implement wealth redistribution and to tackle the predominance of multinational enterprises, aiming at encouraging more equitable market conditions in developing countries;

Amendment 201 #

Motion for a resolution
Paragraph 28 a (new)

28 a. Calls on the EU to support developing countries in combatting illicit financial flows and tax evasion by EU companies and multinationals, to ensure that taxes are paid where profits and real economic value is created, in order to stop base erosion and profit-shifting;

Amendment 21 #

Motion for a resolution
Recital C

C. whereas policy coherence and close cooperation between all official development finance institutions, their government shareholders and all ~~existing~~development partners is urgently needed; whereas the successful mobilisation of further capital, both private and public, in addition to official development assistance (ODA) and other existing forms of development finance, is criticaladvisable as the funding for development-aid will decline and hence what is provided must be implemented as effectively as possible;

Amendment 22 #

Motion for a resolution
Recital C

C. whereas policy coherence and close cooperation between all official development finance institutions, their government shareholders, EU institutions and all existing partners is urgently needed; whereas the successful mobilisation of further capital, both private and public, in addition to official development assistance (ODA) and other existing forms of development finance, is critical;

Amendment 23 #

Charles GOERENS, Barry ANDREWS, Iskra MIHAYLOVA, Jan-Christoph OETJEN, Catherine CHABAUD, María Soraya RODRÍGUEZ RAMOS, Udo BULLMANN

Motion for a resolution
Recital C a (new)

C a. whereas, among its recommendation for an enhanced EFAD, the report of the Wise Person Group released in October 2019 recommended setting up a European Climate and Sustainable Development Bank (ECSDB), an option immediately dismissed by Member states as being too costly and too long to implement within the new budgetary period; whereas, instead, the Council opted for an alternative option to those suggested by the High-Level Group of Wise Persons, called Status Quo +, which does not fundamentally change existing structures but calls for improving them; whereas the Status Quo+ option envisages the following improvement at no additional cost for member states: improvement of the presence of the EIB on the ground and change of its business model towards a more development bank- oriented one, gradual expansion of EBRD’s scope of action into sub-Saharan Africa, increase of the capacity of the Commission, European External Action Service(EEAS) and EU delegations;

Amendment 24 #

Motion for a resolution
Recital C a (new)

C a. whereas the EU Institutions and the 27 EU Member States together constitute the largest donor for developing countries, responsible for approximately 46% of the total ODA provided by all OECD ODA members to developing countries; whereas the major shortfall in SDG financing and the consequences of the COVID-19 pandemic, which has been devastating across the developing world, demands an extraordinary sustained response from all EU actors and a system- wide review of the European Financial Architecture for Development (EFAD);

Amendment 25 #

Charles GOERENS, Barry ANDREWS, Iskra MIHAYLOVA, Jan-Christoph OETJEN, György HÖLVÉNYI, Catherine CHABAUD, María Soraya RODRÍGUEZ RAMOS

Motion for a resolution
Recital D

Amendment 26 #

Motion for a resolution
Recital D

D. whereas the establishment of the Team Europe approach as the global EU response to COVID-19 could help to establish a single strategic coordination framework for the EU’s external response to the pandemic~~, in support of partner countries~~ and other major disasters, such as Russia’s war in Ukraine, in support of partner countries; whereas this approach is a promising process in enabling further cooperation between the EU institutions, the Member States and European bilateral and multilateral development finance institutions, the EIB and the EBRD, continuously increasing the EU’s collective effectiveness and visibility;

Amendment 27 #

Motion for a resolution
Recital D a (new)

D a. whereas NDICI-Global Europe modifies significantly the external investment framework, bringing together blended finance and guarantees under the EFSD+ - External Action Guarantee (EAG); whereas the EFSD+ considerably expands the geographic scope and financial envelope of its predecessor, the EFSD, and will be able to guarantee operations up to EUR 53.4 billion through the EAG; whereas the ‘policy first’ principle at the core of the NDICI-Global Europe represents a shift towards a policy objectives-driven cooperation and subjects the use of EU budgetary guarantees to the programming process;

Amendment 28 #

Motion for a resolution
Recital E

E. whereas Article 36 of the ‘Neighbourhood, Development and International Cooperation Instrument – Global Europe’ Regulation sets out the specific role of the EIB under that instrument; whereas, although the regulation enhances the capacity of European Development Finance Institutions to benefit from EFSD+, the EIB remains the major beneficiary of EFSD+, with three dedicated windows for a total of 26.7 billion EUR, including a dedicated investment window for operations with sovereign and non- commercial sub-sovereign counterparts, which is exclusive to the EIB except for operations that the EIB decides, on its own terms, not to carry out or which it cannot carry out;

Amendment 29 #

Motion for a resolution
Recital F

F. whereas EU companies and financing institutions operating in developing countries during the last decade have increasingly faced unfair competition from global players that operate outside the multilateral development finance system; whereas a well-functioning Policy Coherence for Development and support for Domestic Resource Mobilisation (DRM) is an integral part of sound financial management and aimed at increasing aid effectiveness through concrete initiatives, such as supporting the fight against corruption and the development of progressive tax systems, tackling tax avoidance and evasion;

Amendment 3 #

Charles GOERENS, Barry ANDREWS, Iskra MIHAYLOVA, Jan-Christoph OETJEN, Catherine CHABAUD, María Soraya RODRÍGUEZ RAMOS

Motion for a resolution
Citation 7 b (new)

— having regard to the Council Feasibility study on options for strengthening the future European Financial Architecture for Development of 14 April 2021,

Amendment 30 #

Motion for a resolution
Recital F

F. whereas EU companies and financing institutions operating in developing countries during the last decade have increasingly faced unfair competition from global players that operate outside the multilateral development finance system which provides for an international sets of rules and regulations, such as specific requirements for ODA, officially supported credits, sustainable lending and debt sustainability, prohibited export subsidies, or international standards to combat bribery and corruption;

Amendment 31 #

Motion for a resolution
Recital F

F. whereas EU companies and financing institutions operating in developing countries during the last decade have increasingly faced unfair competition from global players ~~that operate outside the m~~primarily due to stifling EU regulati~~lateral development finance system~~ons, forcing private capital to implement left-wing policies in the developing world;

Amendment 32 #

Motion for a resolution
Recital F a (new)

F a. whereas food insecurity is a significant barrier of achieving the SDGs, particularly in Africa where two in every ten people in Africa are undernourished; whereas this challenge will only become more acute due to population growth; whereas EU cooperation with partner countries needs to tackle this challenge effectively, in a sustainable manner;

Amendment 33 #

Motion for a resolution
Recital F a (new)

F a. whereas the EU Ombudsman has repeatedly called on the EIB to adopt a “more ambitious approach to its disclosure practice” to act in line with EU transparency laws;

Amendment 34 #

Motion for a resolution
Recital F b (new)

F b. whereas Member States called on European development banks and financial institutions to increase their collaboration and coordination, both among themselves and with other multilateral and international financial institutions, building on the strengths and expertise of each institution, thus enhancing the efficiency, visibility and impact of the EFAD, with particular attention to the private sector while complementing and supporting public sector engagement;

Amendment 35 #

Motion for a resolution
Recital F b (new)

F b. whereas, according to the 2020 Aid Transparency Index, the EIB results are less transparent than other public financial institutions, only scoring 58.9 out of 100 points, while the World Bank received 97.1points;

Amendment 36 #

Charles GOERENS, Barry ANDREWS, Iskra MIHAYLOVA, Jan-Christoph OETJEN, Catherine CHABAUD, María Soraya RODRÍGUEZ RAMOS

Motion for a resolution
Recital F c (new)

F c. whereas there is a USD 148 billion annual financing gap in low- and lower- middle-income countries to achieve SDG 4 from now until 2030; whereas additional costs due to COVID-19 related school closures risk increasing this financing gap by up to one-third;

Amendment 37 #

Motion for a resolution
Subheading 1 a (new)

Emphasises that the EFAD should provide for an efficient, effective, coherent and inclusive architecture, underpinned by the policy first principle as the backbone of the EFAD structure, and in line with the strategic interests and values of the EU;

Amendment 38 #

Charles GOERENS, Barry ANDREWS, Iskra MIHAYLOVA, Jan-Christoph OETJEN, Catherine CHABAUD, María Soraya RODRÍGUEZ RAMOS, Udo BULLMANN

Motion for a resolution
Subheading 1 b (new)

Insists that all implementing partners who are part of the EFAD and access EU budget funds under the EFSD+ apply the full range of EU social, human rights, procurement, transparency, and environment standards, policies and procedures; calls on the European Commission to assess, monitor and report back on the adherence to these EU rules;

Amendment 39 #

Motion for a resolution
Paragraph 1

1. Stresses that the policy-first-driven European financial architecture for development (EFAD) should be guided by the principles and objectives set out in the UN 2030 Agenda for Sustainable Development, the Paris Agreement and the Addis Ababa Action Agenda, as well as environmental, social, human rights and rule of law standards;

Amendment 4 #

Charles GOERENS, Barry ANDREWS, Iskra MIHAYLOVA, Jan-Christoph OETJEN, Catherine CHABAUD, María Soraya RODRÍGUEZ RAMOS, Udo BULLMANN

Motion for a resolution
Citation 8 a (new)

— having regard to the EIB-EBRD Joint Report on the European Financial Architecture for Development of 25 November 2021,

Amendment 40 #

Motion for a resolution
Paragraph 1

Amendment 41 #

Motion for a resolution
Paragraph 1

1. Stresses that the ~~policy-first-driven European~~EU financial architecture for development (EFAD) should be guided by the principles and objectives set ~~out in the UN 2030 Agenda for Sustainable Development, the Paris Agreement and the Addis Ababa Action Agenda~~by the donors, the Member States, and their priorities in order to build strong, resilient and successful nation states and together ensure a stabile and prosperous Europe;

Amendment 42 #

Motion for a resolution
Paragraph 1 a (new)

1 a. Stresses that projects involving EFAD actors financed via EFSD+ - External Action Guarantee shall be screened to determine if they have an environmental, climate or social impact and, if so, shall be subject to climate, environmental and social sustainability proofing with a view to minimise detrimental impacts and maximise benefits on climate, environment and social dimensions; recalls that the Union and the Member States committed, under Article 2.1(c) of the Paris Agreement, to align both public and private financial flows to a pathway compatible with the objective of limiting global warming to 1.5°C; stresses that this requires phasing out all direct and indirect fossil fuel subsidies as soon as possible and by 2025 at the very latest; demands, in this regard, that no single operation under EFAD finances sectors that fuel the climate crisis, primarily fossil fuel industries;

Amendment 43 #

Charles GOERENS, Barry ANDREWS, Iskra MIHAYLOVA, Jan-Christoph OETJEN, Catherine CHABAUD, María Soraya RODRÍGUEZ RAMOS, Udo BULLMANN

Motion for a resolution
Paragraph 1 a (new)

1 a. Advocates that EU policies and initiatives need to support coordination and cooperation between Member States in the field of development policy and the EU actions need to complement and support initiatives of Member States;

Amendment 44 #

Motion for a resolution
Paragraph 1 a (new)

1 a. Recalls that the EU’s political engagement should be embodied in its multiannual financial framework and fully reflected in its European Financial Architecture for Development;

Amendment 45 #

Charles GOERENS, Barry ANDREWS, Iskra MIHAYLOVA, Jan-Christoph OETJEN, Catherine CHABAUD, María Soraya RODRÍGUEZ RAMOS

Motion for a resolution
Paragraph 2

2. sStrongly insists that EFAD ~~must~~ strengthen the strategic partnerships between the European Union and its global development partners, notably the African Union; reiterates that such partnerships should always be based on mutual respect and dignity, shared interests and values, particularly human rights, gender equality, environmental, social and climate responsibility, health and security, in order to respond jointly to global challenges and achieve sustainable results for peace and stability in the long term; stresses in this regard the multidimensional influence of and support to Putin’s regime in and by the African continent and calls on the EU and its Member States to carefully assess these cases when building on the existing and new partnerships;

Amendment 46 #

Motion for a resolution
Paragraph 2

Amendment 47 #

Motion for a resolution
Paragraph 2

Amendment 48 #

Motion for a resolution
Paragraph 2

Amendment 49 #

Motion for a resolution
Paragraph 2

2. ~~strongly i~~Insists that EFAD must strengthen the strategic partnerships between the European Union and its global development partners; especially in light of the coming reductions in funding, reiterates that such partnerships should always be based on ~~mutual respect and dignity, shared interests~~full financial transparency and ability to influence all aspects of the intervention- implementation and -evaluesation;

Amendment 5 #

Motion for a resolution
Citation 8 b (new)

— having regard to the Commission's roadmap for an improved European financial architecture for development and 2021 progress report of 24 March 2022,

Amendment 50 #

Motion for a resolution
Paragraph 2

Amendment 51 #

Motion for a resolution
Paragraph 2 a (new)

2 a. Highlights the prominent role attributed to blending mechanisms in EU development policy and the financing of SDGs at the expense of other aid modalities with the risk to divert scarce ODA away from other useful policy measures such as budget support, mobilising domestic tax revenues or fighting tax avoidance; stresses that, while blended finance has grown rapidly, there is little evidence of its development impact, with only a small portion going to LDCs; recalls equally that blending raises concerns in terms of debt sustainability; calls, accordingly, on the EU and its Member States to adopt a cautious approach to blended finance and ensure that all finance mobilised through blending meets development effectiveness principles; recalls also that investing through blending may lead to market distortion, leaving behind projects from the local market that cannot compete; calls, in this regard, for monitoring, by the European Parliament, of the proper implementation of NDICI-GE provisions on preventing market distortion and that any assessment of EFSD+ takes into consideration the proper implementation of these provisions;

Amendment 52 #

Jan-Christoph OETJEN

Motion for a resolution
Paragraph 2 a (new)

2 a. Believes that the EU should tailor its EFAD towards achieving a more for more approach in the maintenance and creation of investment and development partnerships, in close agreement with partner countries on shared goals, values and interests and firmly grounded in international human rights and humanitarian law; insists on establishing these partnerships in line with and in an effort to achieve the SDGs and to promote and maintain the highest possible standards in human rights;

Amendment 53 #

Motion for a resolution
Paragraph 2 a (new)

2 a. Notes that the EFAD needs to maximize the advantages of different structural backgrounds and working modalities of the existing European development banks and financial institutions in order to increase efficiency of the EU's contribution to sustainable development;

Amendment 54 #

Charles GOERENS, Barry ANDREWS, Iskra MIHAYLOVA, Jan-Christoph OETJEN, Catherine CHABAUD, María Soraya RODRÍGUEZ RAMOS

Motion for a resolution
Paragraph 3

3. ~~Underlines the interconnection between development and security; h~~Highlights the role that development plays in preventing conflicts, ensuring durable exits from conflicts and bolstering crisis management; insists on the importance of further developing a well- tailored development-security nexus which does not promote an economic vision of development which emphasizes the role of infrastructure and construction and related employment while obscuring the important dimensions of food and nutrition insecurity, failing governance and lack of access to essential services, human rights violations, climate change, unequal wealth distribution and gender inequality;

Amendment 55 #

Motion for a resolution
Paragraph 3

3. Underlines the undeniable interconnection between development and security and recalls that, without peace and security, development and poverty eradication are not possible, while without development and poverty eradication neither sustainable peace, nor human nor state security can occur; highlights the role that development plays in preventing conflicts, ensuring durable exits from conflicts and bolstering crisis management; insists on the importance of further developing a well-tailored development- security nexus to address the complexities of modern crises and violent situations;

Amendment 56 #

Motion for a resolution
Paragraph 3

3. Underlines the interconnection between development and security; highlights the role that development plays in preventing conflicts, ensuring durable exits from conflicts and bolstering crisis management; insists on the importance of further developing a well-tailored development-security nexus; further notes that a lack of security and armed conflicts exacerbates the already existing vulnerabilities in developing countries, increasing the funding gap for achieving the SDGs;

Amendment 57 #

Motion for a resolution
Paragraph 3

3. Underlines the interconnection between development and security; highlights the role that development plays in preventing conflicts, ensuring durable exits from conflicts and bolstering crisis management; insists on the importance of further developing a well-tailored development-security nexus; recalls, however, that Official Development Assistance should not be conditional upon the cooperation of partner countries in controlling migratory flows;

Amendment 58 #

Motion for a resolution
Paragraph 3

3. Underlines the interconnection between humanitarian aid, development and ~~security~~peace; highlights the role that development plays in preventing conflicts, ensuring durable exits from conflicts and bolstering crisis management; insists on the importance of further developing a well- tailored ~~development-security nexus~~nexus to address protracted and predictable crises, leading to a people- centred, structural, and sustainable long- term recovery;

Amendment 59 #

Motion for a resolution
Paragraph 3

3. Underlines the interconnection between development and security~~; highlights the role that development plays in preventing c~~ of the Member States and the need for conditionfali~~cts, ensuring durable exits from conflicts and bolstering crisis management; insists on the importa~~ty as defined by the European Parliament in the resolution of 25 November 2020 on improving development effectiveness and the efficiencey of ~~further developing a well-tailored development-security nexus~~aid (2019/2184(INI)); in particular point 62 ;

Amendment 6 #

Motion for a resolution
Citation 8 c (new)

— having regard to the opinion of the European Court of Auditors, No 7/2020 accompanying the Commission’s report on the implementation of the European Fund for Sustainable Development (EFSD),

Amendment 60 #

Motion for a resolution
Paragraph 3 a (new)

3 a. Acknowledges that security is an essential precondition for investments and for sustainable development and notes that conflict prevention and resolution needs to be integrated into EU development cooperation; welcomes in this context the activities of churches in conflict resolution and management, contributing to peace and security;

Amendment 61 #

Motion for a resolution
Paragraph 3 b (new)

3 b. Underlines that the USD 2.5 trillion funding gap can be achieved only by promoting Public-Private-Partnerships and private investments, domestic resource mobilisation in partner countries and by more efficient utilisation of EU funding, while strengthening good governance and combating corruption;

Amendment 62 #

Motion for a resolution
Paragraph 3 c (new)

3 c. Notes that education and vocational training as cross-cutting issues make a major contribution to achieving the SDGs; emphasises that EU investments and cooperation need to prioritize this area together with job creation in the context of the EFAD;

Amendment 63 #

Charles GOERENS, Barry ANDREWS, Iskra MIHAYLOVA, Jan-Christoph OETJEN, Catherine CHABAUD, María Soraya RODRÍGUEZ RAMOS

Motion for a resolution
Paragraph 4

4. Emphasises the role of a collective, coherent EU approach, which could be effective in helping to foster the expansion of social protection systems in developing countries; believes that the EFAD should contribute to eradicating poverty, in addressing social exclusion and inequality, promote gender equality, climate change mitigation and adaptation, fight against hunger and food sovereignty, and promote development policies that strengthen human development, contributing to the creation of quality public education and health systems, protecting the common goods of developing countries, such as water and natural resources;

Amendment 64 #

Motion for a resolution
Paragraph 4

4. Emphasises the role of a collective, coherent EU approach, politically savvy and tailored to the specificities of the partner country, which could be effective in helping to foster the expansion of social protection systems in developing countries and would help bridge the gap between security and development, with social protection being one of the foundations of the social contract and the way to enhance resilience;

Amendment 65 #

4. Emphasises that the role of ~~a collective, coherent EU approach, which could be effective in h~~development aid is not to install the same system that is used in one or more of the donor nations, but to provide the ability for developing ~~to foster the expansion of social protection systems in developing countries~~nations to decide and craft their own future drawing on collective global experiences and well grounded in their culture;

Amendment 66 #

Motion for a resolution
Paragraph 4

4. Emphasises the role of a collective, coherent EU approach, which could be effective in helping to foster the expansion of social protection systems in developing countries that are in line with all the relevant ILO instruments on social security;

Amendment 67 #

Jan-Christoph OETJEN

Motion for a resolution
Paragraph 4

4. Emphasises the role of a collective, coherent EU approach supported and endorsed by all EU Member States, which could be effective in helping to foster the expansion of social protection systems in developing countries;

Amendment 68 #

Motion for a resolution
Paragraph 4

4. Emphasises the role of a collective, coherent EU approach, which could be effective in helping to foster the expansion of social protection systems and essential public services in developing countries;

Amendment 69 #

Motion for a resolution
Paragraph 4 a (new)

4 a. Recalls that the private sector cannot guarantee universal access to, or replace public investments in particular in, critical services, such as health, education and social protection, that provide crucial long-term prospects for the graduation from poverty; calls on the EU and its Member States, in a context where ODA remains a scarce resource, to limit blending operations to those areas where they can add value to the local economy, but to exclude blended finance from essential public services, particularly health, education and social protection, as the monetisation of those sectors could widen already existing inequalities and jeopardise the universal access to those services; urges, more broadly, the European Commission and the Member States to prioritise partnerships with LDC domestic enterprises that pursue sustainable and inclusive business models;

Amendment 7 #

Charles GOERENS, Barry ANDREWS, Iskra MIHAYLOVA, Jan-Christoph OETJEN, György HÖLVÉNYI, Catherine CHABAUD, María Soraya RODRÍGUEZ RAMOS

Motion for a resolution
Citation 11

— having regard to the 6th European Union – African Union Summit of 17-18 February 2022 and related final statement entitled ‘A Joint Vision for 2030’,

Amendment 70 #

Jan-Christoph OETJEN

Motion for a resolution
Paragraph 5

5. Underlines that consistency across all EU financing instruments, initiatives and strategies is crucial in order to maximise the EU’s global response to sustainable growth, development and peace; underlines that EU financing instruments, initiatives and strategies must be closely aligned and anchored in the EU's strategy for Policy Coherence for Development (PCD) and Policy Coherence for Sustainable Development (PCSD);

Amendment 71 #

Motion for a resolution
Paragraph 5

5. Underlines that consistency across all EU financing instruments, initiatives and strategies, notably the new NDICI- Global Europe instrument, Team Europe initiative and the new Global Gateway strategy, is crucial in order to maximise the EU’s global response to sustainable growth, development and peace;

Amendment 72 #

Motion for a resolution
Paragraph 5

5. Underlines that consistency across all EU financing instruments, initiatives and strategies is crucial in order to maximise the EU’s global response to sustainable ~~growth,~~ development and peace and ensure the respect of the Policy Coherence for Development principle;

Amendment 73 #

Motion for a resolution
Paragraph 5

5. Underlines that consistency across all EU financing instruments, for the donations from the Member States as well as initiatives and strategies ~~is crucial~~ in order to maximise the ~~EU’s global response to sustainable grow~~impact of the support as th,e development ~~and peace~~budget will shrink over the coming decades;

Amendment 74 #

Motion for a resolution
Paragraph 5

5. Underlines that consistency and policy coherence across all EU financing instruments, initiatives and strategies is crucial in order to maximise the EU’s global response to sustainable growth, development and peace;

Amendment 75 #

Motion for a resolution
Paragraph 5

5. Underlines that consistency across all EU financing instruments, initiatives ~~and~~, strategies and policies is crucial in order to maximise the EU’s global response to sustainable growth, development and peace;

Amendment 76 #

Motion for a resolution
Paragraph 5 a (new)

5 a. Highlights that the gap between the richest and poorest people and countries is continuously increasing, while reducing inequalities has strategic importance and should be at the core of the common efforts in the framework of the EFAD;

Amendment 77 #

Charles GOERENS, Barry ANDREWS, Iskra MIHAYLOVA, Jan-Christoph OETJEN, György HÖLVÉNYI, Catherine CHABAUD, María Soraya RODRÍGUEZ RAMOS

Motion for a resolution
Paragraph 5 a (new)

5 a. Insists that more action should be taken to meet investment needs for climate-smart agriculture and sustainable ocean industries, since SDG 14 on ‘life below water’ remains one of the most underfunded of all the SDGs;

Amendment 78 #

Motion for a resolution
Paragraph 5 a (new)

5 a. Believes that the EFAD should improve the EU’s visibility and the impact of its development finance in the world, in order to ensure that the EU’s perceived role in the world matches the magnitude of its support;

Amendment 79 #

Motion for a resolution
Paragraph 5 a (new)

5 a. Recalls that according to recent studies, there is very weak evidence of the benefits of blending finance in supporting development, especially in less developed countries.

Amendment 8 #

Charles GOERENS, Barry ANDREWS, Iskra MIHAYLOVA, Jan-Christoph OETJEN, Catherine CHABAUD, María Soraya RODRÍGUEZ RAMOS

Motion for a resolution
Citation 16 a (new)

— having regard to the Council conclusions of 10 June 2021 on enhancing the European financial architecture for development,

Amendment 80 #

Motion for a resolution
Paragraph 5 b (new)

5 b. Stresses that eradication of poverty (SDG1), climate action (SDG 13), good health and well-being (SDG 3), with a particular focus on the most marginalised groups and leaving no-one behind are especially acute challenges in today’s world;

Amendment 81 #

Motion for a resolution
Paragraph 6

6. iIs alarmed at how the COVID-19 pandemic has exposed the long-standing structural drivers of health inequalities; recalls that, according to the United Nations “Financing for Sustainable Development Report” (2021), the Covid- 19 pandemic could lead to a “lost decade” for sustainable development; stresses that the war in Ukraine, in all its dimensions, is producing alarming cascading effects for a world economy already battered by COVID-19 and climate change, with particularly dramatic impacts on developing countries, including the existing debt problems, further endangering their efforts at mobilizing sufficient resources to achieve the SDGs; underlines that LDCs have been particularly impacted due to their dependence on trade as a driver of economic growth, their small domestic markets and low levels of diversification, all of which increase their vulnerability to external shocks; underlines that additional efforts in terms of debt relief is urgently needed to avoid widespread defaults in developing countries and to facilitate investments in recovery and the SDGs;

Amendment 82 #

Charles GOERENS, Barry ANDREWS, Iskra MIHAYLOVA, Jan-Christoph OETJEN, Catherine CHABAUD, María Soraya RODRÍGUEZ RAMOS

Motion for a resolution
Paragraph 6

6. iIs alarmed at how the COVID-19 pandemic has exposed the long-standing structural drivers of health inequalities; insists on the need to invest heavily in the development of resilient public health systems in partner countries and to carry out research to develop vaccines and treatments against diseases that are recurrent in developing countries;

Amendment 83 #

Motion for a resolution
Paragraph 6

6. iIs alarmed at how the COVID-19 pandemic has exposed the long-standing structural drivers of health inequalities; believes, therefore, that the EFAD should particularly promote investments in healthcare and healthcare services, also in research and development of new health technologies;

Amendment 84 #

Motion for a resolution
Paragraph 6

6. iIs alarmed at how the COVID-19 pandemic hwas ~~expo~~used in order to try to raised the ~~long-standing structural drivers~~development budget and not focus on the rebuilding of the~~alth inequaliti~~ Member States;

Amendment 85 #

Charles GOERENS, Barry ANDREWS, Iskra MIHAYLOVA, Jan-Christoph OETJEN, Catherine CHABAUD, María Soraya RODRÍGUEZ RAMOS

Motion for a resolution
Paragraph 6 a (new)

6 a. Emphasises that the EU’s financial contribution to sustainable development in partner countries needs to enable partner countries to contribute to their own economic and social development and to achieve the SDGs; underlines the paramount importance of domestic ownership in this context;

Amendment 86 #

Motion for a resolution
Paragraph 6 a (new)

6 a. Calls for exploring the possibility of creating a platform for sharing innovation, knowledge and expertise, supporting multi-stakeholder partnerships, fostering public-private dialogue, and exploring innovative business solutions to accelerate sustainable development;

Amendment 87 #

György HÖLVÉNYI, Tomas TOBÉ, Hildegard BENTELE

Motion for a resolution
Paragraph 6 a (new)

6 a. Considers, furthermore, that the new geopolitical realities imposed by the war in Ukraine lead to a great humanitarian and economic crisis and have a huge negative impact on global development policies;

Amendment 88 #

Motion for a resolution
Subheading 2 a (new)

Is concerned that, despite the recent improvements, the current status quo is still lacking proper coordination, characterised by duplication and continued competition between the European Investment Bank (EIB), the European Bank for Reconstruction and Development (EBRD) and European development and finance institutions;

Amendment 89 #

Charles GOERENS, Barry ANDREWS, Iskra MIHAYLOVA, Jan-Christoph OETJEN, Catherine CHABAUD, María Soraya RODRÍGUEZ RAMOS, Udo BULLMANN

Motion for a resolution
Paragraph 7

7. bBelieves that EFAD and the long- awaited EU SDG strategy must reflect and facilitate a coordinated and coherent set of internal and external EU policies and commitments; ~~regrets, in that context~~underlines that public and private financing must be aligned with the SDGs and the Paris Agreement; regrets, that the Commission has not yet developed an integrated and holistic SDG implementation strategy which presents a significant challenge to the ambition to achieve policy coherence, due to the lack of clear, measurable and time-bound EU- wide targets for all SDGs to report against; calls for sustainable development to be prioritised and mainstreamed throughout the project cycle(design, implementation, evaluation) process, through robust impact assessment;

Amendment 9 #

Motion for a resolution
Recital A

A. whereas the COVID-19 pandemic has deepened the already significant SDG financing gap and caused an overall decline in resources of USD 700 billion, and, at the same time, an increase in needs of USD 1 trillion, causing a scissor effect, so that the pre-pandemic SDG annual funding gap in developing countries of USD 2.5 trillion is expected to increase by 70 % post-COVID-19, to USD 4.2 trillion (EUR 3.7 trillion)6 ; _________________ 6 OECD report of 10 December 2020 entitled ‘Global Outlook on Financing for Sustainable Development 2021: A New Way to Invest for People and Planet’.

Amendment 90 #

Charles GOERENS, Barry ANDREWS, Iskra MIHAYLOVA, Jan-Christoph OETJEN, Catherine CHABAUD, María Soraya RODRÍGUEZ RAMOS

Motion for a resolution
Paragraph 7

7. ~~believes~~Underlines that developing and, even more so, developed countries have a shared responsibility to achieve the SDGs; points out, therefore, that EFAD and the long- awaited EU SDG strategy must reflect and facilitate a coordinated and coherent set of internal and external EU policies and commitments, including through the full set of already existing development policy tools; regrets, in that context, that the Commission has not yet developed an integrated and holistic SDG implementation strategy;

Amendment 91 #

Motion for a resolution
Paragraph 7

7. bBelieves that EFAD ~~and the long- awaited EU SDG strategy must~~could reflect and facilitate a coordinated and coherent set of ~~internal and~~ external EU policies ~~and commitments; regrets, in that context, that the Commission has not yet developed an integrated and holistic SDG implementation strategy~~, governed by conditionalities, based on the fact that development budgets will decrease in the years to come, so as to ensure maximum benefit for the shrinking number of aid- interventions administered by the Commission in third countries;

Amendment 92 #

Motion for a resolution
Paragraph 8

8. Recognises the urgent need to enhance and improve the institutional set- up of the Commission, reduce heavy bureaucratic coordination and strengthen institutional flexibility by re-establishing the European Agency for Reconstruction and providing this new agency, the European Agency for Development, with a global mandate for the administration of all development-related interventions funded by the Member States and with the responsibility to manage the shrinking development funding available to the Commission for external use;

Amendment 93 #

Charles GOERENS, Barry ANDREWS, Iskra MIHAYLOVA, Jan-Christoph OETJEN, Catherine CHABAUD, María Soraya RODRÍGUEZ RAMOS

Motion for a resolution
Paragraph 8

8. Recognises the need to enhance and improve the institutional set-up, reduce heavy bureaucratic coordination and strengthen institutional flexibility; urges the Commission to provide additional information on its calculation of the leverage ratio for investment operations, notably in the case of the recently announced EU Global Gateway;

Amendment 94 #

Motion for a resolution
Paragraph 8

8. Recognises the need to enhance and improve the institutional set-up, reduce heavy bureaucratic coordination and strengthen institutional flexibility, in order to maximise EFAD’s potential, thus increasing development impact;

Amendment 95 #

Motion for a resolution
Paragraph 8

8. Recognises the need to enhance and improve the institutional set-up, address the ‘development effectiveness deficit’ in the current set-up, reduce heavy bureaucratic coordination and strengthen institutional flexibility;

Amendment 96 #

Motion for a resolution
Paragraph 9

9. IStresses that more efforts must be undertaken to comply with policy coherence for sustainable development (PCD) principles, especially for the EU trade, agricultural, fisheries, environment, climate, migration, foreign and security policies, in order to achieve aid effectiveness objectives; insists that mechanisms for ensuring policy coherence for sustainable development (PCD) must be enshrined in EFAD and used more systematically and efficiently by all relevant EU institutions and all Member States, including at the highest political level; stresses that these mechanisms should be implemented accordingly by the EIB, EBRD, DFIs and their intermediaries;

Amendment 97 #

Charles GOERENS, Barry ANDREWS, Iskra MIHAYLOVA, Jan-Christoph OETJEN, Catherine CHABAUD, María Soraya RODRÍGUEZ RAMOS, Udo BULLMANN

Motion for a resolution
Paragraph 9

9. Insists that mechanisms for ensuring policy coherence for sustainable development must be enshrined in EFAD and used more systematically and efficiently by all relevant EU institutions and all Member States, including at the highest political level; insists that policy coherence for sustainable development should be mainstreamed in the design and implementation of all kinds of EU policies in order to ensure that they do not negatively affect the attainment of the SDGs;

Amendment 98 #

Motion for a resolution
Paragraph 9

9. Is concerned that key features of the Policy Coherence for Sustainable Development (PCSD) principle are systematically missing in regulatory initiatives of the EU; insists that mechanisms for ensuring policy coherence for sustainable development must be enshrined in EFAD and used more systematically and efficiently by all relevant EU institutions and all Member States, including at the highest political level;

Amendment 99 #

Motion for a resolution
Paragraph 9

9. Insists that mechanisms for ensuring policy coherence for sustainable development must be enshrined in EFAD by ensuring more ex-ante impact assessments and the establishment of an early warning system of policy incoherencies at the EU Delegations and used more systematically and efficiently by all relevant EU institutions and all Member States, including at the highest political level;

source: 731.784

2022/05/13 BUDG 14 amendments...

Amendment 1 #

Draft opinion
Paragraph 1

1. ~~Welcomes~~Takes note of the Council’s conclusions on enhancing the European Financial Architecture for Development ~~and~~(EFAD) and of the Commission’s roadmap for an improved European financial architecture and the 2021 progress report; underlines the key role of the ‘Neighbourhood, Development and International Cooperation Instrument – Global Europe‘, the European Fund for Sustainable Development Plus (EFSD+) and the External Action Guarantee in providing a strategic framework for blended finance, de-risking investments and guarantees and in mobilising resources from the private sector with the support of the EU budget; , especially in light of increasing geopolitical and economic competition; Or. en (To be considered together with compromise amendment 2 on paragraph 2 a)

Amendment 10 #

Draft opinion
Paragraph 6 a (new)

6 a. Takes note of the Global Gateway initiative put forward by the Commission and the EEAS and underlines that it should be coherent with the EFAD; requests immediate and comprehensive information on the financing of the Global Gateway, noting that the initiative relies heavily on the idea of leveraging resources from outside the EU budget and that the amount of budgetary guarantees involved and the origins and purpose of the additional EUR 750 million announced for the initiative are unclear; reiterates that a recourse to the NDICI emerging challenges and priorities cushion is not appropriate for the Global Gateway;

Amendment 11 #

Draft opinion
Paragraph 7

Amendment 12 #

Draft opinion
Paragraph 7 a (new)

7 a. Underlines the importance of private sector mobilisation to tackle development challenges; considers blended finance an option in the development finance toolbox to complement public investment in a constrained budgetary context; recalls that it should respect the principle of additionality; calls for limiting blending operations to those areas where they can add value to the local economy, and calls for a careful assessment, in particular when targeting least developed countries, with a view to limiting debt burdens, safeguarding essential public services such as health, education and social protection, and not widening existing inequalities; acknowledges the continued relevance of grant-focused aid in these contexts; considers that blended finance rules should be set according to the different development contexts, allowing flexibility in the balance of the blended elements; expects the EIB, EBRD and other European development and finance institutions to ensure that all projects, and in particular blended finance projects contribute to the EU development goals, including towards least developed countries;

Amendment 13 #

Draft opinion
Paragraph 7 b (new)

7 b. Reaffirms that all implementing partners and financial intermediaries involved in projects linked to EU guarantees or financed from the EU budget must fully follow EU social, environmental, tax, transparency, anti- fraud and anti-corruption standards, policies, rules and procedures; calls on the Commission to assess, monitor and report back on these aspects as well as on the adequacy of budgetary guarantees, including through country-specific risk assessments; underlines the need for increased transparency as regards final beneficiaries;

Amendment 14 #

Draft opinion
Paragraph 8

8. Highlights the need to increase the transparency of the current framework, including the programming and reporting processes, and for Parliament to be more heavily involved~~; underlines the importance of carrying out an independent evaluation of the EFSD+ and the Team Europe approach in due time to assess their effectiveness and performance.~~ to enhance democratic accountability and scrutiny; recalls that the tripartite agreement gives access to the Court of Auditors to all information related to guarantees from the EU budget; calls on the ECA to fully scrutinise and regularly report on operations backed by guarantees from the EU budget, addressing any shortcomings in its working methods currently preventing it from doing so; underlines the importance of carrying out an independent evaluation of the EFSD+ and the Team Europe approach in due time to assess their effectiveness, performance and development impact; underlines the need to ensure the EFSD+ facilitates learning about best practices concerning sector- and region-specific projects;

Amendment 2 #

Draft opinion
Paragraph 1 a (new)

1 a. Highlights that the EFAD should support EU strategic interests and promote EU values, as laid down in Article 2 TEU; underlines that operations outside the Union, including blended finance projects, must be aligned with EU external policy objectives and contribute to achieving EU development goals; Or. en (To be considered together with compromise amendment 1 on paragraph 2)

Amendment 3 #

Draft opinion
Paragraph 1 b (new)

1 b. Notes that the EU is the largest donor in the world; highlights the need to promote better visibility and awareness of EU development actions and projects; regrets the lack of information to citizens concerning the EU’s role in the support to their communities; encourages all actors involved to step up their joint engagement in public communication;

Amendment 4 #

Draft opinion
Paragraph 2

2. ~~Stresses that despite some recent improvements,~~Recognises the progress and improvements made towards EFAD since the Council’s conclusions, but notes that the current status quo is still characterised by a lack of policy steer, coordination, fragmentation, duplication and ~~continued~~unhelpful competition between the European Investment Bank (EIB), the European Bank for Reconstruction and Development (EBRD) and European development and finance institutions; ~~underlines the need~~calls for further efforts to make the current system more efficient, collaborative and focused ton ensureing an optimal use of resources, that leverages key partners’ relevant geographic, sectoral and financial expertise for a better return on EU taxpayers’ money and a stronger development impact;

Amendment 5 #

Draft opinion
Paragraph 3

3. Recognises that the European Financial Architecture for Development ishould be mainly focused on least developed and fragile ~~countries~~or conflict-afflicted countries, where needs are the greatest, particularly in sub- Saharan Africa; recalls, however, that a considerable share of investments is channelled also to the Western Balkans and the Eastern and Southern Neighbourhood, and underlines the need to provide funding to deal with new challenges and support new priorities in these regions; calls on the Commission, the EIB, the EBRD and European development and finance institutions to work on action plans for the reconstruction of Ukraine as soon as it is re-established as a sovereign and indepOr. en (To be considered together with compromise amendment ~~country after the war;~~ 6 on paragraph 3 a)

Amendment 6 #

3 a. Points to the considerable impact of the Russian Federation’s illegal, unprovoked and unjustified military aggression against Ukraine on the development landscape and the economic and security situation in the EU and its neighbourhood; calls on the Commission, the EIB, the EBRD and European development and finance institutions to work on action plans for the reconstruction of Ukraine, to build back better, greener and in a more inclusive approach; recognises furthermore that Russia’s war against Ukraine has increased energy and food prices, exacerbating humanitarian needs especially in sub-Saharan Africa; underlines the urgent need for further funding, including through the NDICI Global Europe cushion to address these unforeseen circumstances; Or. en (To be considered together with compromise amendment 5 on paragraph 3)

Amendment 7 #

Draft opinion
Paragraph 4

4. Calls on the Commission, the Member States, the EIB, the EBRD and 4. European development and finance institutions to strengthen their cooperation within the EFSD+ open architecture by taking a Team Europe approach; stresses the need for greater specialisation and a better division of labour to ensure synergies and complementarities; underlines the need to move away from the current project-based approach towards sector-based programming involving all stakeholders from the start, including private investors, to increase leverage and impact; Or. en (To be considered together with compromise amendment 8 on paragraph 4 a)

Amendment 8 #

Draft opinion
Paragraph 4 a (new)

4 a. Underlines that the future financial architecture should be open and collaborative, and enable the participation of all interested development finance actors, including smaller and medium- sized actors as well as non-EU development banks and stakeholders; calls in this context for a solid level playing field in terms of governance of the EFSD+ and access to EU resources, including through capacity-building and support for smaller development banks and financial institutions, as key for a fruitful cooperation among European development and finance institutions; underlines the need to move away from the current project-based approach towards sector-based programming involving all relevant stakeholders from the start, including the private sector and civil society, to increase transparency, leverage and impact; Or. en (To be considered together with compromise amendment 7 on paragraph 4)

Amendment 9 #

Draft opinion
Paragraph 6

6. Highlights the need for a stronger and clearer policy steer ~~from the Commission~~and political guidance from the Commission in implementing the EFAD, with the Western Balkans’ Investment Framework serving as a possible model in this regard; ~~calls on the Commission to use its existing resources in terms of banking expertise and its financial and technical capacities more effectively;~~ stresses the importance of an adequate risk management framework, effective management and oversight of the implementation of development finance instruments; calls on the Commission to use its existing resources in terms of banking expertise and its financial and technical capacities more effectively; recognises the management challenges faced by the Commission and the EEAS and invites the Commission to assess whether adequate resources and expertise are available for the effective engagement with development and finance institutions and the oversight of guarantees and complex blended finance instruments;

source: 732.548

2022/10/26 DEVE 45 amendments...

Amendment 1 #

Motion for a resolution
Recital A

A. whereas the COVID-19 pandemic has deepened the already significant SDG financing gap and caused an overall decline in resources of USD 700 billion, and, at the same time, an increase in needs of USD 1 trillion, causing a scissor effect, so that the pre-pandemic SDG annual funding gap in developing countries of USD 2.5 trillion is expected to increase by 70 % post-COVID-19, to USD 4.2 trillion (EUR 3.7 trillion)6 a; _________________ 6a O~~ECD report of 10 December 2020 entitled ‘Global Outlook on Financing for Sustainable Development 2021: A New Way to Invest for People and Planet’~~J L 209, 14.6.2021, p. 1.

Amendment 10 #

Motion for a resolution
Recital D c (new)

D c. whereas the European Fund for Sustainable Development Plus (EFSD+), established under the Neighbourhood, Development and International Cooperation Instrument – Global Europe (NDICI – Global Europe) instrument, provides funding for blending and budgetary guarantee operations, which are to be implemented by eligible partners in an open and collaborative approach;

Amendment 11 #

Motion for a resolution
Recital F a (new)

F a. whereas EU companies and financing institutions operating in developing countries during the last decade have increasingly faced unfair competition from global players that operate outside the multilateral development finance system, which provides for an international set of rules and regulations, such as specific requirements for ODA, officially supported credits, sustainable lending and debt sustainability, prohibited export subsidies and international standards to combat bribery and corruption;

Amendment 12 #

Motion for a resolution
Recital F b (new)

F b. whereas properly functioning Policy Coherence for Development (PCD) and support for Domestic Resource Mobilisation (DRM) is an integral part of sound financial management and is aimed at increasing aid effectiveness through concrete initiatives, such as supporting the fight against corruption, the development of progressive tax systems and tackling tax avoidance and evasion;

Amendment 13 #

Motion for a resolution
Recital F c (new)

F c. whereas Member States have called on European development banks and financial institutions to increase their collaboration and coordination, both among themselves and with other multilateral and international financial institutions, building on the strengths and expertise of each institution, thereby enhancing the efficiency, visibility and impact of EFAD, and encouraging further mobilisation of the private sector while continuing to complement and support public sector engagement;

Amendment 14 #

Motion for a resolution
Paragraph 1

1. ~~Stres~~Emphasises that ~~the~~ EFAD should provide for an efficient, effective, coherent and inclusive architecture, underpinned by the ‘policy- first~~-driven European financial architecture for development (~~’ principle as the backbone of EFAD’s structure, and in line with the strategic interests and values of the EU; insists that all implementing partners who are part of EFAD and access EU budget funds under the EFSD+ apply the full range of EU social, human rights, procurement, transparency and environment and rule of law standards, policies and procedures; calls on the Commission to assess, monitor and report back on the adherence to these EU rules; stresses that the policy- first-driven EFAD) should be guided by the principles and objectives set out in the UN 2030 Agenda for Sustainable Development, the Paris Agreement and the Addis Ababa Action Agenda, and should contribute to the achievement of the SDGs; reiterates that projects involving EFAD actors must be subject to climate, environmental and social sustainability- proofing with a view to minimising any possible detrimental impact and maximising the benefits in the climate, environment and social dimensions, in line with the commitments of the EU and its Member States under Article 2.1(c) of the Paris Agreement; strongly insists that operations under the new EFAD contribute to mitigation and adaptation to climate change; further insists, in this context, that operations involving EFAD actors do not finance sectors that bolster the climate crisis but contribute instead to the transition to sustainable energy production; recalls that the EU’s political engagement should be embodied in its multiannual financial framework and fully reflected in its European financial architecture for development;

Amendment 15 #

Motion for a resolution
Paragraph 2

2. sStrongly insists that EFAD must strengthen the strategic partnerships between the European Union and its global development partners; reiterates that such partnerships should always be based on mutual respect and dignity, shared interests and values, in particular human rights, gender equality, environmental, social and climate responsibility, health and security, aimed at reducing inequalities and poverty; repeats that these partnerships should always be established in line with, and in an effort to, achieve the SDGs; points, in this regard, to the multidimensional influence of and support to Putin’s regime by the African continent and calls for the EU and its Member States to reach out to these African partner countries and to establish reliable partnerships; calls on the Commission to involve civil society organisations and NGOs, including local organisations, in the establishment and implementation of such partnerships; underlines that a prerequisite for the partnership projects financed through EFAD is to ensure development and financial additionality, as well as country ownership and development effectiveness; advocates EU policies and initiatives supporting coordination and cooperation between Member States in the field of development policy, and the EU’s actions complementing and supporting the initiatives of Member States; stresses that the eradication of poverty (SDG 1), fostering good health and well-being (SDG 3), ensuring access to quality education for all (SDG 4, reducing inequalities (SDG 10) and promoting climate action (SDG 13), with a particular focus on the most marginalised groups and leaving no one behind, are especially acute challenges in today’s world;

Amendment 16 #

Motion for a resolution
Paragraph 3

3. Underlines the interconnection between ~~development and security;~~ humanitarian aid, development cooperation and peace; highlights the role that development plays in preventing conflicts, ensuring durable exits from conflicts and bolstering crisis management; insists on the importance of further developing a well-tailored ~~development-security nexus~~triple nexus focused on a people-centred, structural, and sustainable long-term recovery, in order to address the complexities of protracted and predictable crises and violent situations; recalls that, without peace and security, development and poverty eradication are not possible, while without development and poverty eradication, sustainable peace, human or state security cannot be established; further notes that a lack of security exacerbates the already existing vulnerabilities in developing countries and increases the funding gap for achieving the SDGs; takes note of the fact that security, the rule of law and resilient institutions are essential for investments and for sustainable development; notes the activities of local stakeholders, including local government bodies, civil society organisations, social partners and faith-based organisations in conflict resolution and management, contributing to peace and security; recalls that ODA should always be used in line with internationally agreed development objectives and NDICI – Global Europe;

Amendment 17 #

Motion for a resolution
Paragraph 4

4. Emphasises the role of a collective, coherent EU approach, supported and endorsed by all EU Member States, which is politically savvy and tailored to the specificities of the partner country, and which could be effective in ~~helping to foster the expansion of social protection systems in developing countr~~fostering the expansion of social protection systems that are in line with the relevant ILO conventions, and of essential public services in developing countries; points out that such an EU approach would help make social protection one of the foundations of the social contract, paving the way to enhanced resilience; considers blended finance to be an option from the development finance toolbox that could complement public investment in a constrained budgetary context; calls for blending operations to be limited to areas where they can add value to the local economy and calls, in this context, for a careful assessment, in particular when targeting least-developed countries, with a view to limiting debt burdens, safeguarding essential public services such as health, education and social protection, and not widening existing inequalities;

Amendment 18 #

Motion for a resolution
Paragraph 5

5. Underlines that consistency across all ~~EU financing instruments,~~Underlines that consistency across all EU policies, strategies, initiatives and financing instruments, notably the new NDICI – Global Europe instrument, the Team Europe initiatives and ~~strategies~~the new Global Gateway strategy, as well as close alignment with the EU’s strategy for PCD and Policy Coherence for Sustainable Development (PCSD) is crucial in order to maximise the EU’s global response tofor sustainable growth, development and peace; believes that EFAD should improve the EU’s visibility and the impact of its development finance in the world, in order to ensure that the EU’s perceived role in the world matches the magnitude of its support;

Amendment 19 #

Motion for a resolution
Paragraph 6

6. iIs alarmed at how the COVID-19 pandemic has exposed the long-standing structural drivers of health inequalities; believes that EFAD should contribute to investments in resilient public health systems, healthcare and healthcare services, and in research and development of new health technologies, as well as of vaccines, treatments and focusing on diseases that are recurrent in developing countries; calls for the possibility of creating a platform for sharing innovation, education and training, knowledge and expertise to be explored, which would support multi-stakeholder partnerships, foster public-private dialogue and explore innovative business solutions to accelerate sustainable development; underlines the role of public and private investments and public- private partnerships, as well as the importance of domestic resource mobilisation in partner countries and more efficient utilisation of EU funding in closing the USD 2.5 trillion funding gap identified for meeting the SDGs by 2030, while strengthening good governance and combating corruption;

Amendment 2 #

Motion for a resolution
Recital A a (new)

A a. whereas there is an annual financing gap of USD 148 billion in low- and lower-middle-income countries in relation to achieving SDG 4 between now and 2030; whereas additional costs resulting from COVID-19-related school closures risk increasing this financing gap by up to one third;

Amendment 20 #

Motion for a resolution
Paragraph 7

7. ~~believ~~Underlines that developing and developed countries have a shared responsibility to achieve the SDGs; emphasises that the EU’s financial contribution to sustainable development in partner countries should enable partner countries to contribute to their own economic and social development and to achieve the SDGs; underlines the paramount importance of domestic ownership in this context; stresses that EFAD and the long- awaited EU SDG strategy must reflect and facilitate a coordinated and coherent set of internal and external EU policies and commitments~~; regrets, in that context, that the Commission has not yet developed an integrated and holistic SDG implementation strategy~~, including through the set of existing development policy tools; underlines that public and private financing must be aligned with the goals of the SDGs and the Paris Agreement; regrets, in that context, that the Commission has not yet developed an integrated and holistic SDG implementation strategy, which presents a significant challenge in terms of the ambition to achieve policy coherence, owing to the lack of clear, measurable and time-bound EU-wide targets for all SDGs as a reporting benchmark;

Amendment 21 #

Motion for a resolution
Paragraph 7 a (new)

7 a. Believes that EFAD should be based on the expertise and existing networks of all its different actors (i.e. the EIB, the EBRD, the European Development Finance Institutions (DFIs) and others); recognises the progress and improvements made in relation to the future EFAD since the Council’s conclusions, but notes that the current status quo is still characterised by a lack of policy steer and coordination, as well as by fragmentation, duplication and unhelpful competition between the aforementioned actors; calls for further efforts for better coordination and cooperation to make the current system more effective, collaborative and focused on ensuring an optimal use of resources that leverages key partners’ relevant geographical, sectoral and financial expertise to achieve a better return on EU taxpayers’ money and a stronger development impact;

Amendment 22 #

Motion for a resolution
Paragraph 8

8. Recognises the need to enhance and improve the EU institutional set-up, and address its ‘development effectiveness deficit’, to reduce heavy bureaucratic coordination and strengthen institutional flexibility with a view to maximising EFAD’s potential and increasing its development impact;

Amendment 23 #

Motion for a resolution
Paragraph 8 a (new)

8 a. Calls on the Commission to work on effective governance of the Global Gateway strategy, which has to be promoted under the overall steer of the President of the Commission, and to coordinate closely in this regard with the Vice-President of the Commission / High Representative of the Union for Foreign Affairs and Security Policy, the European External Action Service (EEAS), the Council and Parliament; underlines that the strategy should be consistent with EFAD and that a recourse to the NDICI – Global Europe’s emerging challenges and priorities cushion for financing is not appropriate; urges the Commission to provide additional information on its calculation of the leverage ratio for investment operations of the recently announced EU Global Gateway;

Amendment 24 #

Motion for a resolution
Paragraph 9

9. I~~nsists that mechanisms f~~s concerned that the key features of the PCSD principle are systematically missing from regulatory initiatives of the EU; stresses that more e~~nsuring policy coherence for sustainable development must be enshrined in EFAD and~~fforts are needed to fully comply with PCSD principles, in order to achieve aid effectiveness objectives; insists that mechanisms for ensuring PCSD must be enshrined in EFAD; calls for more ex ante impact assessments and the establishment of an early warning system for policy incoherencies at EU delegations; recommends that PCSD should be used more systematically and efficiently by all relevant EU institutions and ~~all~~ Member States, including at the highest political level, and should be mainstreamed in the design and implementation of every variety of EU policy in order to ensure that they do not negatively affect the attainment of the SDGs; recalls that PCSD mechanisms should be also implemented by the EIB, EBRD, DFIs and their intermediaries;

Amendment 25 #

Motion for a resolution
Paragraph 10

10. DAcknowledges the Commission’s efforts in better regulation with the aim of creating long-term sustainable investments which promote health and the well-being of both people and the planet, and which protect human rights; demands that EFAD be consistent with the future EU due diligence and corporate responsibility legislation ~~and that it adhere to the highest standards of transparency and accountability;~~ , ensuring corporate compliance with human rights standards and regulatory developments, mandatory due diligence and adherence to the international commitments on business and human rights; underlines that EFAD must meet the highest standards of transparency and accountability; calls on EFAD members to strengthen the due diligence of their operations, ensure meaningful consultation of the local population throughout the implementation of the projects, further develop their development expertise and dedicated capacity and human resources on the ground, implement gender mainstreaming and protect human rights in all operations, be equipped with solid accountability mechanisms for impacted communities and closely monitor, and report on, the shortcomings of their involvement and the role of their intermediaries in projects which have negatively impacted local populations in developing countries;

Amendment 26 #

Motion for a resolution
Paragraph 10 a (new)

10 a. Reaffirms that all implementing partners and financial intermediaries involved in projects linked to EU guarantees or financed from the EU budget must fully comply with EU social, environmental, tax, transparency, anti- fraud and anti-corruption standards, policies, rules and procedures; calls on the European Court of Auditors to fully scrutinise and regularly report on operations backed by guarantees from the EU budget, addressing any shortcomings in its working methods that are currently preventing it from doing so; underlines the importance of carrying out an independent evaluation of the EFSD+ and the Team Europe approach in due course in order to assess their effectiveness, performance and development impact;

Amendment 27 #

Motion for a resolution
Paragraph 11

11. BNotes that the Team Europe approach emerged as a response to the COVID-19 pandemic; believes that the Team Europe approach should play a key role in further improving strategic cooperation and global coordination and the coherence and effectiveness of development efforts, especially at partner- country level, a~~nd believes that it has the potential to further identify key issues that need to be solved~~s well as at EU and Member State level, including at regional government level; expects stronger policy direction and focus, and stronger mechanisms for communication and visibility when it comes to the EFSD+/NDICI – Global Europe instrument ; further insists on the appropriate implementation of the European Parliament scrutiny mechanism in order to allow for the democratic legitimacy of Team Europe activities;

Amendment 28 #

Motion for a resolution
Paragraph 12

12. Calls on the Commission to put forward a powerful EU policy direction ~~and to~~for development policies and to coordinate the EFAD in a way that would allow further alignment of the EU development financial institutions’ activities within the new open, collaborative, transparent and inclusive architecture; isn o~~f the opinion that the programming process must fully cover the use of EU budgetary guarantees~~rder to achieve EU development policy objectives, strengthen close partnerships with regions and contribute to their development;

Amendment 29 #

Motion for a resolution
Paragraph 12 a (new)

12 a. Emphasizes that the Emphasises that the NDICI – Global Europe programming process provides the opportunity to enhance the use of EU budgetary guarantees, notably the EFSD +; underlines that the future financial architecture should enable all interested development finance actors to participate, including small and medium-sized actors and non-EU development banks and stakeholders; calls, in this context, for a solid level playing field in terms of the governance of the EFSD+ and access to EU resources; stresses the importance of an adequate risk management framework and of the effective management and oversight of the implementation of development finance instruments; calls on the Commission to use its existing banking expertise resources and its financial and technical capacities more effectively;

Amendment 3 #

Motion for a resolution
Recital A b (new)

A b. whereas Russia’s military aggression in Ukraine has drastically exacerbated the situation of SDGs in Ukraine and its neighbouring countries; whereas the current Russian military aggression in Ukraine will impact the worldwide implementation of the SDGs, particularly in relation to the fight against poverty and hunger, which heighten the risks of growing civil unrest, conflicts and irregular migration; whereas the destructive consequences caused by the criminal act of Putin’s war have significantly diverted the already scarce resources of development aid; whereas the long-term consequences of this war are as yet unknown; whereas the major shortfall in SDG financing and the consequences of the COVID-19 pandemic, which has been devastating across the developing world, demands an extraordinary sustained response from all EU actors and a system-wide review of the European financial architecture for development (EFAD);

Amendment 30 #

Motion for a resolution
Paragraph 13

13. Calls on the Commission to ensure that EFAD pursues the goal of restoring the multilateral development finance system in order to help put an end to the unsustainable lending practices of some countries operating outside that system, which not only threaten the level playing field for the EU and other compliant countries, but also dramatically increase the already high external debt of many developing countries which were made even more vulnerable as a consequence of the COVID-19 pandemic; highlights against this backdrop that Russia’s military aggression in Ukraine is further worsening the debt burden in many developing countries; highlights that least developed countries are unable to implement the SDGs without financial support and therefore strongly calls for debt relief measures in line with sustainability commitments;

Amendment 31 #

Motion for a resolution
Paragraph 14

14. cConsiders that the EU taxonomy ~~to be~~should contribute to the reorientation of capital flows towards sustainable investments and i~~mportant tool for achieving the SDG~~ntroduce sustainability among the criteria to be taken into account for risk management; calls on the Commission to further develop the EU taxonomy and encourage development finance institutions both at EU and Member State level, as well as private actors active in development, to align their activities, in particular those in developing countries, with SDG objectives and the objectives of the Paris Aagreement;

Amendment 32 #

Motion for a resolution
Paragraph 15

15. rReaffirms the E~~uropean Investment Bank’s specific role – which i~~IB’s specific role within the EU and globally – as set out in Article 209 of the Treaty on the Functioning of the European Union and in Article 36 of the ‘Neighbourhood, Development and International Cooperation Instrument – Global Europe~~’ – as the EU’s financial arm with a global reach;~~ ; highlights the important role of the EIB in delivering EU investments and partnering with the Commission in implementing the Global Gateway strategy;

Amendment 33 #

Motion for a resolution
Paragraph 16

16. Recognises the EIB’s flagship role in the European Green and Blue Deal and its substantial contribution to the EU’s economic response to the COVID-19 pandemic; calls for the EU to further maximise the potential of the EIB as a tool to leverage the EU’s strategic autonomy and promote its external policy interests and priorities in its relations with non-EU countries; calls on the EIB to improve its policies and practices and its transparency, in particular by implementing the recommendations formulated by the European Ombudsman to ‘take several transparency steps to enable the public to more easily see the potential environmental impact of the projects it finances’, as set out in cases 1065/2020/PB, 1251/2020/PB and 1252/2020/PB;

Amendment 34 #

Motion for a resolution
Paragraph 17

17. Welcomes the setting-up of EIB Global, defined by the EIB as a dedicated development branch within the EIB Group, which has been operational since 1 January 2022; calls on the EIB to strengthen its presence in the field, while exploiting possible synergies with the EEAS, EU delegations, the EBRD and other European DIFs; points out that the lack of information on how EIB Global is funded jeopardises its mandate from the outset, also in view of the commitments of this new entity in terms of development objectives; calls, therefore, for a concrete and strong development mandate for the new EIB Global; expects this new structure and its advisory board, its goals and budgetary provisions, organisational functioning and specific goals of the branch, as well as its coordination mechanisms with other financial development institutions, to be fully transparent, including by proactively publishing documents, by ensuring meaningful representation of recipient countries and by regular exchanges with the European Parliament and open dialogue with stakeholders, in particular civil society organisations and local actors;;

Amendment 35 #

Motion for a resolution
Paragraph 18

18. Encourages the EIB to continue to actively engage in developing planning, monitoring and evaluation at country level, hand in hand with the EU delegations and through co-financing with development finance institutions; calls for stronger coordination between the Commission and the EEAS and EU delegations to facilitate discussions and cooperation with relevant actors on the ground in order to identify projects which best meet development effectiveness objectives;

Amendment 36 #

Motion for a resolution
Paragraph 19

19. Encourages the EIB and the European Bank for Reconstruction and Development to further reinforce their complementarity and their business models through greater mutual reliance initiatives, as the needs are greater than their joint resources; calls on the EIB and the EBRD to coordinate their work along different trajectories and clarify their division of labour in order to help each bank to focus on its respective core competencies, thereby avoiding duplication and undercutting; notes that there is a need to adapt the working methods and tools of the EIB and the EBRD to the investment needs in Africa, particularly in order to facilitate large- scale investments, while maintaining EU support for smaller scale local projects; points out that it is crucial for European investments to be accompanied by a visible presence of the EU and continuous political dialogue; notes that EFAD needs to maximise the advantages of the different structural backgrounds and working methods of the existing European development banks and financial institutions in order to increase the efficiency of the EU’s contribution to sustainable development; expects the EIB, EBRD and other European DFIs to ensure and provide evidence in the form of ex ante impact assessments that every project, and in particular blended finance projects, contribute to the EU’s development goals, including those concerning least developed countries, and meet international human rights standards; calls on the Commission, the EIB, the EBRD and European DFIs to ensure that their advisory and technical assistance teams are equipped to further gender equality and inclusive development;

Amendment 37 #

Motion for a resolution
Paragraph 20

20. ~~Encourag~~Calls on the Commission, the Member States, the EIB, the European Bank for Reconstruction and Development and the other European development banks and financial institutions, including smaller DFIs, to strengthen their cooperation, notably in the framework of NDICI – Global Europe and its objectives, as well as in globally achieving the goals of Agenda 2030, and to encourage them to pool resources and financing, and to enhance coordination and communication in common projects, by drawing on their respective financial expertise; calls on the Commission to play a stronger role in providing technical assistance for projects and assisting DFIs and other development actors in coordinating; calls for an inclusive approach towards the smaller DFIs of Member States in accessing funding under the European development finance architecture;

Amendment 38 #

Motion for a resolution
Paragraph 21

21. Calls on the EIB to work more closely with the African Development Bank ~~to finance long-term investments that foster sustainable development~~and to assess the advantages of establishing a joint subsidiary following the implementation of the ongoing EIB- African Development Bank partnership action plan; invites the EIB to report to Parliament about the next steps taken; underlines the need to finance long-term investments that foster sustainable development and to build on cooperation to date, in order to develop further sustainable development opportunities for the African continent; encourages the creation of project and advisory hubs, jointly operated by the EIB and the African Development Bank, to create effective contact points for advice and project initiation for local actors and to better match the development needs on the ground, as well as improve local ownership for common development projects; calls, in this regard, for support to local private sector development in Africa, in particular thanks to the provision of more funds to African micro, small and medium-sized enterprises;

Amendment 39 #

Motion for a resolution
Paragraph 23 a (new)

23 a. Notes the particular importance of EU investments in the field of sustainable agriculture, including agro-ecological practices, where private and public investments are lacking; emphasises that local farmers, smallholders and family farms need to have access to financial services, and, in particular, to micro- financing;

Amendment 4 #

Motion for a resolution
Recital B

B. whereas the current political and financial leadership of and efforts by the EU are not sufficient for achieving the SDGs and the goals of the Paris Agreement and addressing other acute global challenges ~~requires joint engagement at international level~~, in particular worsening climate change, the dramatically increased debt burden of partner countries, the consequences of COVID-19 and violent conflicts, and therefore joint engagement at international level is required to ensure that EFAD is able to respond to these emerging challenges;

Amendment 40 #

Motion for a resolution
Paragraph 24

24. Recognises the importance and potential of Member State development banks within the EFAD structure; ~~stresses the pressing need to boost private sector development in sub-Saharan Africa~~is concerned, however, about the role of intermediaries partnering with DFIs, in particular regarding reported violations of human rights; stresses the important role that local private sector development in sub-Saharan Africa can play in empowering partner countries to set themselves on a path to sustainable development;

Amendment 41 #

Motion for a resolution
Paragraph 25

25. Calls on the Commission to report annually on Team Europe initiatives (TEIs) based on quantitative and qualitative indicators within the framework of NDICI – Global Europe, while evaluating the resources mobilised, development planning and impact, harmonisation and application of EU standards, the EU integration perspective and Member States’ involvement; insists that such reporting be shared with Parliament and made public; stresses that Parliament has a key role to play in scrutinising the political objectives and expected results of TEIs, both at general and project levels, ensuring that TEIs work alongside existing mechanisms and complement rather than supplement the multiannual indicative programmes;

Amendment 42 #

Motion for a resolution
Paragraph 26

26. Reiterates that institutional control and scrutiny of EU funding fosters democratic debate and helps to boost the credibility ~~of the EU~~and transparency of the EU; highlights Parliament’s important role and its scrutiny role under NDICI – Global Europe in that regard; calls for obligations ensuring appropriate visibility of the implementation of EFAD ~~and~~; calls on the Commission to take action ~~where those obligations are not met~~in an appropriate and timely manner where those obligations are not met; calls on the European Court of Auditors to draw up regular reports on the implementation of EFAD, which will be made public and lead to policy recommendations, including on actions to be taken for improvements; regrets the lack of information provided to the general public on the EU’s role in offering support to local communities and encourages better communication with the public;

Amendment 43 #

Motion for a resolution
Paragraph 27

27. iInsists that the Member States honour their commitment to spend 0.7 % of their gross national income (GNI) on ODA; underlines the important role of ODA as a catalyst for change and a lever for the mobilisation of other resources; stresses the importance of the EU’s commitment to mobilise resources for climate action and the EIB’s role in making progress in this area; is alarmed that in 2020, ODA from advanced economies was on average just 0.32 % of their GNI – less than half of the 0.7 % commitment, one which has only been attained by four Member States; highlights that the impact of Russia’s military aggression in Ukraine on government spending around the globe will put further pressure on aid budgets which are already low; notes that the Member States which joined the EU after 2002 committed to striving to increase their ODA/GNI to 0.33 %; welcomes the efforts which these and other Member States have made so far to gradually scale up their ODA spending; encourages them to continue on this track; underlines the important role of ODA as a catalyst for change and a lever for the mobilisation of other resources; considers that the EU should strive to maintain its position as a world leader in ODA; recalls that at least 93 % of the expenditure under NDICI – Global Europe must fulfil the criteria for ODA;

Amendment 44 #

Motion for a resolution
Paragraph 27 a (new)

27 a. Stresses the importance of the EU’s commitment to mobilise resources for climate action and the EIB’s and other EFAD members’ role in making progress in this area; notes the Council’s commitments to steer EFAD towards achieving the 2030 Agenda for Sustainable Development, the SDGs and the Paris Agreement in order to limit global warming to 1.5 °C; recalls the NDICI – Global Europe 30 % global climate spending target and the target to spend 7.5 % of GDP on biodiversity by 2024 outlined in the multiannual financial framework; regrets the fact that the Commission has not made more specific commitments to climate policy goals in its roadmap and expects this to be remedied in an upcoming programming document; calls for all operations financing sectors that contribute to the climate crisis, mainly the fossil fuel industry, to be banned; recognises that EFAD should be inclusive for all regions and partner countries, while acknowledging that a considerable share of investment is being channelled to the Western Balkans and the Eastern and Southern Neighbourhood;

Amendment 45 #

Motion for a resolution
Paragraph 27 b (new)

27 b. Recognises the role of local micro, small and medium-sized enterprises, cooperatives, inclusive business models and research institutes as engines of growth, employment and local innovation, which will in turn contribute to the achievement of the SDGs; underlines the need to simplify access to financing, strengthen inclusiveness and support smaller actors, including by improving accessibility to relevant publicly available data; underlines that local SMEs therefore need to have easy access to financial services in the EFAD framework; notes that EU policies need to encourage the cooperation of companies and enterprises, particularly SMEs, to play an active role in initiatives contributing to sustainable development in developing countries;

Amendment 5 #

Motion for a resolution
Recital C

C. whereas in order to actually achieve the SDGs and to overcome the COVID-19 pandemic, policy coherence and close cooperation between all official development finance institutions, their government shareholders, EU institutions and all existing partners is urgently needed to ensure that scarce public money is used in the most effective and efficient way; whereas the successful mobilisation of further capital, both private and public, in addition to official development assistance (ODA) and other existing forms of development finance, is critical and needs to be aligned with development policy objectives, particularly with a view to reducing inequalities and poverty as the first goal of Agenda 2030;

Amendment 6 #

Motion for a resolution
Recital C a (new)

C a. whereas food insecurity is a significant barrier to achieving the SDGs, particularly in Africa, where 2 in 10 people are undernourished; whereas this challenge will only become more acute as a result of population growth; whereas EU cooperation with partner countries needs to tackle this challenge effectively, in a sustainable manner;

Amendment 7 #

Motion for a resolution
Recital D

D. whereas the establishment of the Team Europe approach as the global EU response to COVID-19 could help to establish a single strategic coordination framework for the EU’s external response to the pandemic, in support of partnerEU institutions and the 27 EU Member States together constitute the largest donor for developing countries, responsible for approximately 46 % of the total ODA provided by all OECD ODA members to developing countries;

Amendment 8 #

D a. whereas the creation of the Team Europe approach as the global EU response to COVID-19 could help to establish a single strategic coordination framework for the EU’s external response to the pandemic and other major challenges, such as the consequences of Russia’s military aggression in Ukraine, in support of partner countries; whereas this approach is a promising process in enabling further cooperation between the EU institutions, the Member States and European bilateral and multilateral development finance institutions, the EIB and the European Bank for Reconstruction and Development (EBRD), continuously increasing the EU’s collective effectiveness and visibility;

Amendment 9 #