2023/2229(INI) | [ParlTrack]

Motion for a resolution
Citation 20 a (new)

– having regard to the EIB’s approach to human rights, published on 6 February 2023,

Amendment 10 #

Motion for a resolution
Paragraph 2

2. Reiterates its call for a capital increase; notes that this is necessary for supporting key real economy investments that would not be made otherwise and that have the potential to maximise innovation gains in key EU policy areas such as digitalisation and the green transformation, for helping mitigate high energy prices, skills gaps and insufficient investments in innovation and new technologies and for helping implement the European Pillar of Social Rights and the UN Sustainable Development Goals; expects the EIB to ensure that its financing contributes to addressing market failures and avoids crowding-out effects, without increasing its overall financing costs;

Amendment 100 #

Motion for a resolution
Paragraph 22

22. Is of the opinion that EIB Global should be accountable for compliance with the principles set out in the Paris Declaration on Aid Effectiveness and the Accra agenda for action (ownership, alignment, harmonisation, managing for results and mutual accountability); is particularly concerned, in this context, about a conflict of interest between export credit agencies and EIB Global development finance and about the impact on the development additionality of EIB Global’s affected investments;

Amendment 101 #

Motion for a resolution
Paragraph 22 a (new)

22 a. Takes note of the EIB information note summarising its approach to human rights; reminds the EIB of the importance of integrating human rights into its due diligence procedures, conducting human rights impact assessments, anchoring its general human rights commitment in a responsibility to respect human rights and operating in full compliance with Article 2 of the Treaty on the Functioning of the European Union; reiterates, moreover, its call on EIB Global to ensure inclusive and meaningful consultation and engagement with the communities impacted by its projects prior to their approval and throughout project implementation; underlines that specific measures should be taken to include indigenous peoples, women, persons with disabilities and other vulnerable groups in consultations;

Amendment 102 #

Motion for a resolution
Paragraph 23

23. Reiterates its call for clear and binding rules to complement the information note summarising EIB Global’s approach to human rights, in particular on assessment and disengagement; expresses particular concern that, since 2015, the EIB has not required project promoters to carry out any standalone human rights impact assessments; calls therefore on the EIB to provide a Human Rights Strategy as well as human rights assessment and evaluation of its programmes, also on the ground, to ensure that local communities are consulted and that the right to free prior and informed consent (FPIC) is implemented in a systematic manner; calls, furthermore, on the EIB to develop specific policies on human rights defenders and protocols to respond to risks of reprisals;

Amendment 103 #

Motion for a resolution
Paragraph 23

23. Reiterates its call for clear and binding rules to complement the information note summarising EIB Global’s approach to human rights, in particular on assessment and disengagement; expresses particular concern that, since 2015, the EIB has not required project promoters to carry out any standalone human rights impact assessments; reiterates its call for the EIB to ensure that all of its operations benefit women and girls and the advancement of female economic empowerment and employment, as gender-smart development investments are more effective and sustainable; believes that the EIB could further increase microfinance loans to women-led businesses, which still face discrimination in access to finance;

Amendment 104 #

Motion for a resolution
Paragraph 23

23. Reiterates its call for clear and binding rules to complement the information note summarising EIB Global’s approach to human rights, in particular on assessment and disengagement; expresses particular concern that, since 2015, the EIB has not required project promoters to carry out any standalone human rights impact assessmentsWelcomes the EIB's commitments to respecting and promoting human rights in the projects it supports, thus contributing to the objectives of the UN Guiding Principles on Business and Human Rights; notes that the EIB screens human rights risks at project level by integrating human rights considerations into its environmental and social due diligence;

Amendment 105 #

Motion for a resolution
Paragraph 23

23. Reiterates its call for clear and binding rules to complement the information note summarising EIB Global’s approach to human rights, in particular on assessment and disengagement; expresses particular concern that, since 2015, the EIB has not required project promoters to carry outTakes note of the EIB’s approach of assessing human rights aspects at project level, which consists of the full integration of human rights considerations in the context of the EIB’s environmental anyd s~~tandalone human rights impact assessments~~ocial due diligence;

Amendment 106 #

Motion for a resolution
Paragraph 23

23. Reiterates its call for clear and binding rules to complement the information note summarising EIB Global’s approach to human rights, corruption and anti-money laundering and terrorist financing, in particular on assessment and disengagement; expresses particular concern that, since 2015, the EIB has not required project promoters to carry out any standalone human rights impact assessments;

Amendment 107 #

Motion for a resolution
Paragraph 23 a (new)

23 a. Is concerned about the EIB's involvement of a project of the now bankrupt Kenyan construction company Spencon, which shows that EIB money has been used to pay out bribes to local officials or pay for illegal activities, including a EUR 80,000 cash payment to engineers for onsite inspections on a sewage treatment plant; regrets that the EIB closed the case rapidly in 2020 and only opened it again in 2022 after pressure from civil society organisations; regrets that OLAF did not pursue the case; highlights that the Spencon case underlines the need for the EIB to step up its anti-corruption framework, despite the fact that bribes are common practice in many countries where EIB Global operates;

Amendment 108 #

Motion for a resolution
Paragraph 23 a (new)

23 a. Asks the EIB to collaborate with other bilateral and multilateral institutions to develop and apply common methodologies for development impact analysis, with a view to ensuring value added, long-term positive impacts;

Amendment 109 #

Motion for a resolution
Subheading 4

Transparency ~~and~~, governance and gender equality

Amendment 11 #

Motion for a resolution
Paragraph 2

2. Reiterates its call for a capital increase to enable more long-term repayable financial support and innovative instruments; notes that this is necessary for supporting key real economy investments that would not be made otherwise and that have the potential to maximise innovation gains in key EU policy areas such as the twin transition, for helping mitigate high energy prices, skills gaps and insufficient investments in innovation and new technologies; expects the EIB to ensure that its financing contributes to addressing market failures and avoids crowding-out effects, without ~~increa~~compromising ~~its~~the overall ~~financing costs~~attractiveness of its financial offer;

Amendment 110 #

Motion for a resolution
Paragraph 24

24. ~~Is concerned that the EIB is falling behind other public financial institutions in terms of transparency and in ensuring that no harm is done by~~Takes note that the EIB its ~~intermediated investments, as it rated only~~rated ‘fair’ on the 2023 Foreign Direct Investment Transparency Index; recalls ~~that~~on the EIB’s transparency policy runs counter to the presumption of disclosure and is not aligned with the applicable exceptions listed in Regulation (EC) No 1049/20013 and Regulation (EC) No 1367/20064 ; urges the EIB to implement the European Ombudsman’s recommendations of 20 November 2023 from Case 2252/2022/OAM and of 21 April 2022 from Case 1251/2020/PB to allow for a meaningful assessment of the environmental and social aspects of projects it is considering for funding; _________________ 3 Regulation (EC) No 1049/2001 of the European Parliament and of the Council of 30 May 2001 regarding public access to European Parliament, Council and Commission documents (OJ L 145, 31.5.2001, p. 43). 4 Regulation (EC) No 1367/2006 of the European Parliament and of the Council of 6 September 2006 on the application of the provisions of the Aarhus Convention on Access to Information, Public Participation in Decision-making and Access to Justice in Environmental Matters to Community institutions and bodies (OJ L 264, 25.9.2006, p. 13). to work on the identified areas for improvement in that regard; recalls that the EIB Group's Transparency Policy is fully based on EU legislation;

Amendment 111 #

Motion for a resolution
Paragraph 24

24. ~~Is concerned that the EIB is falling behind other public financial institutions in terms of t~~Welcomes the launch of the Development Finance Institutions Transparency aIndex in ensuring that no harm is done by its intermediated investments, as it rated only ‘fair’ on the 2023 Foreign Direct Investment Transparency Index; recalls that the EIB’s transparency policy runs counter to the presumption of disclosure and is not aligned with the applicable exceptions listed in Regulation (EC) No 1049/20013 and Regulation (EC) No 1367/20064 ; urges the EIB to implement the European Ombudsman’s recommendations of 20 November 2023 from Case 2252/2022/OAM and of 21 April 2022 from Case 1251/2020/PB to allow for a meaningful assessment of the2023 and the fact that the associated report ranks the EIB at a similar level to peer development finance institutions in a number of areas, including financial intermediaries and environmental ~~and~~, social aspects of projects it is considering for funding; _________________ 3 Regulation (EC) No 1049/2001 of the European Parliament and of the Council of 30 May 2001 regarding public access to European Parliament, Council and Commission documents (OJ L 145, 31.5.2001, p. 43). 4 Regulation (EC) No 1367/2006 of the European Parliament and of the Council of 6 September 2006 on the application ofnd governance and accountability to communities; calls for clear and comprehensive information to be shared with the EU institutions, in particular Parliament; underlines that the pro~~vis~~tections of the Aarhus Convention on Access to Information, Public Participation in Decision-making and Access to Justice in Environmental Matters to Community institutions and bodies (OJ L 264, 25.9.2006, p. 13).commercially sensitive information from clients needs to be ensured at all times, in line with applicable Regulation (EC) No 1049/2001;

Amendment 112 #

Motion for a resolution
Paragraph 24

24. IRecalls that EIB funds are public money and should always be subject to public scrutiny and accountability; is concerned that the EIB is falling behind other public financial institutions in terms of transparency and in ensuring that no harm is done by its intermediated investments, as it rated only ‘fair’ on the 2023 Foreign Direct Investment Transparency Index; recalls that the EIB’s transparency policy runs counter to the presumption of disclosure and is not aligned with the applicable exceptions listed in Regulation (EC) No 1049/20013 and Regulation (EC) No 1367/20064 ; urges the EIB to implement the European Ombudsman’s recommendations of 20 November 2023 from Case 2252/2022/OAM and of 21 April 2022 from Case 1251/2020/PB to allow for a meaningful assessment of the environmental and social aspects of projects it is considering for funding; _________________ 3 Regulation (EC) No 1049/2001 of the European Parliament and of the Council of 30 May 2001 regarding public access to European Parliament, Council and Commission documents (OJ L 145, 31.5.2001, p. 43). 4 Regulation (EC) No 1367/2006 of the European Parliament and of the Council of 6 September 2006 on the application of the provisions of the Aarhus Convention on Access to Information, Public Participation in Decision-making and Access to Justice in Environmental Matters to Community institutions and bodies (OJ L 264, 25.9.2006, p. 13).

Amendment 113 #

Valentino GRANT, Joachim KUHS, Eric MINARDI

Motion for a resolution
Paragraph 24

24. Is concerned that the EIB is falling behind other public financial institutions in terms of transparency and in ensuring that no harm is done by its intermediated investments~~, as it rated only ‘fair’ on the 2023 Foreign Direct Investment Transparency Index~~; recalls that the EIB’s transparency policy runs counter to the presumption of disclosure and is not aligned with the applicable exceptions listed in Regulation (EC) No 1049/20013 and Regulation (EC) No 1367/20064 ; urges the EIB to implement the European Ombudsman’s recommendations of 20 November 2023 from Case 2252/2022/OAM and of 21 April 2022 from Case 1251/2020/PB to allow for a meaningful assessment of the environmental and social aspects of projects it is considering for funding; _________________ 3 Regulation (EC) No 1049/2001 of the European Parliament and of the Council of 30 May 2001 regarding public access to European Parliament, Council and Commission documents (OJ L 145, 31.5.2001, p. 43). 4 Regulation (EC) No 1367/2006 of the European Parliament and of the Council of 6 September 2006 on the application of the provisions of the Aarhus Convention on Access to Information, Public Participation in Decision-making and Access to Justice in Environmental Matters to Community institutions and bodies (OJ L 264, 25.9.2006, p. 13).

Amendment 114 #

Motion for a resolution
Paragraph 24

24. Is concerned that the EIB is falling behind other public financial institutions in terms of transparency and in ensuring that no harm is done by its intermediated investments, as it rated only ‘fair’ on the 2023 Foreign Direct Investment Transparency Index; recalls that the EIB’s transparency policy runs counter to the presumption of disclosure and is not aligned with the applicable exceptions listed in Regulation (EC) No 1049/20013 and Regulation (EC) No 1367/20064 ; urges the EIB to implement the European Ombudsman’s recommendations of 20 November 2023 from Case 2252/2022/OAM and of 21 April 2022 from Case 1251/2020/PB to allow for a meaningful assessment of the environmental and social aspects of projects it is considering for funding; calls for the timely publication of the minutes of the EIB's Broad of Directors; _________________ 3 Regulation (EC) No 1049/2001 of the European Parliament and of the Council of 30 May 2001 regarding public access to European Parliament, Council and Commission documents (OJ L 145, 31.5.2001, p. 43). 4 Regulation (EC) No 1367/2006 of the European Parliament and of the Council of 6 September 2006 on the application of the provisions of the Aarhus Convention on Access to Information, Public Participation in Decision-making and Access to Justice in Environmental Matters to Community institutions and bodies (OJ L 264, 25.9.2006, p. 13).

Amendment 115 #

Motion for a resolution
Paragraph 24 a (new)

24 a. Reiterates its call on the EIB to commit to strengthening its policy against tax fraud, tax evasion and tax avoidance, including by refraining from funding beneficiaries or financial intermediaries and cooperating with financial partners where these beneficiaries, intermediaries or partners have a proven negative track record; reiterates its call on the EIB to enforce prevention measures and regular tax assessments against non-cooperative tax jurisdictions tax and fiscal fraud, tax evasion and illegal and aggressive tax avoidance;

Amendment 116 #

Motion for a resolution
Paragraph 24 a (new)

24 a. Calls on the EIB to increase its reporting to Parliament regarding its decisions, progress achieved and the impact of its lending activities, notably through regular structured dialogues between Parliament and the EIB; reiterates its request for an interinstitutional agreement between Parliament and the EIB in order to improve access to EIB documents and data and enhance democratic accountability, including the ability to submit questions for written answer to the EIB;

Amendment 117 #

Motion for a resolution
Paragraph 24 a (new)

24 a. Welcomes the launch of the Development Finance Institutions Transparency Index in 2023 and the fact that the associated report ranks the EIB at a similar level to peer development finance institutions in a number of areas, including financial intermediaries and environmental, social and governance and accountability to communities; calls for clear and comprehensive information to be shared with the EU institutions, in particular Parliament;

Amendment 118 #

Motion for a resolution
Paragraph 24 a (new)

24 a. Asks the EIB to pro-actively publish more detailed information regarding projects, including the rationale and context for projects, explaining how they align with and advance EU policy aims;

Amendment 119 #

Motion for a resolution
Paragraph 25

25. Reiterates its concern that EIB Vice-Presidents are often involved in project proposals from their home countries resulting in a potential risk of conflict of interest; invites the EIB to fully implement all recommendations received from the European Ombudsman in Case 1016/2021/KR; invites the EIB management committee members to publish their scheduled meetings with external stakeholders and reiterates the request to systematically publish the content of the meetings of the EIB’s governing bodies to further improve transparency;

Amendment 12 #

Motion for a resolution
Paragraph 2

2. Reiterates its call for a capital increase to allow the Bank to reinforce its support for inclusive sustainable growth, competitiveness and key real economy investments; expects the EIB to ensure that its financing contributes to addressing market failures and avoids crowding-out effects, and brings measurable impacts without increasing its overall financing costs;

Amendment 120 #

Motion for a resolution
Paragraph 25

25. Reiterates its concern that EIB Vice-Presidents are often involved in project proposals from their home countries; invites the EIB to fully implement all recommendations received from the European Ombudsman in Case 1016/2021/KR, as regards the activities of former members of its Management Committee, as set out in the Ombudsman’s decision of 27 July 2022;

Amendment 121 #

Motion for a resolution
Paragraph 25

25. ~~Reite~~Encouratges ~~its concern that~~the EIB Vice- Presidents ~~are often~~not to be involved in project proposals from their home countries; invites the EIB to fully implement all recommendations received from the European Ombudsman in Case 1016/2021/KR;

Amendment 122 #

Valentino GRANT, Joachim KUHS, Eric MINARDI

Motion for a resolution
Paragraph 25 a (new)

25 a. Notes that the EIB has made progress in achieving a more gender balanced workforce, although women remain underrepresented in senior positions and in core areas of activity; regrets that the EIB did not reach its gender targets set for women at various levels in its 2018-2021 EIB Diversity and Inclusion (D&I) Strategy; calls, therefore, for the bank to step up its efforts to increase gender diversity to achieve gender parity and a better balance of genders across all functions, whilst also maintaining geographical balance;

Amendment 123 #

Motion for a resolution
Paragraph 25 a (new)

25 a. Is concerned that the EIB has, at least once, failed to conduct a full inquiry into allegations of bribery and misuse of funds involving a financial intermediary outside the EU; calls on the EIB to reopen all such cases and to disclose annually the rate of recovery of funds lent in the event of proven fraud;

Amendment 124 #

Motion for a resolution
Paragraph 25 a (new)

25 a. Regrets that a sitting Vice- President of the European Parliament, Nicola Beer, has seamlessly, without a cooling-off period, been appointed Vice- President of the European Investment Bank as of 1 January 2024; regrets the decision, which is it at odds with good governance rules on revolving doors;

Amendment 125 #

Motion for a resolution
Paragraph 25 a (new)

25 a. Calls on the EIB to actively promote balanced gender representation in its managerial and senior positions; calls on the EIB to further enhance the promotion of all forms of diversity and inclusion within its organisation and to set ambitious targets;

Amendment 126 #

Motion for a resolution
Paragraph 25 a (new)

25 a. Recalls that EIB funds are public money and should always be subject to public scrutiny and accountability;

Amendment 127 #

Motion for a resolution
Paragraph 25 b (new)

25 b. Reiterates its call on the EIB to strengthen its policy against tax fraud, tax evasion and tax avoidance, including by refraining from funding beneficiaries or financial intermediaries which have a proven negative track record; calls on the EIB to enforce prevention measures and regular tax assessments against non- cooperative tax jurisdictions, tax and fiscal fraud, tax evasion and illegal and aggressive tax avoidance;

Amendment 128 #

Valentino GRANT, Joachim KUHS, Eric MINARDI

Motion for a resolution
Paragraph 25 b (new)

25 b. Calls for more accountability towards the EU institutions, especially towards Parliament, as transparency is one of the cornerstones of democracy; believes that Members of the European Parliament should be allowed to submit questions for written answer to the EIB, as already provided for the European Central Bank;

Amendment 129 #

Motion for a resolution
Paragraph 25 b (new)

25 b. Notes with concern the continued increase in administrative overheads, which is mainly due to the rise in staff related costs; calls on the EIB to exercise cost discipline and to preserve the flexibility and efficiency of this management structure;

Amendment 13 #

Motion for a resolution
Paragraph 2

2. Reiterates its call for a capital increase; expects the EIB to ensure that its financing contributes to addressing market failures and avoids crowding-out effects~~, without increasing its overall financing costs~~;

Amendment 14 #

Motion for a resolution
Paragraph 2

2. ~~Reiterates its call for a capital increase; e~~Expects the EIB to ensure that its financing contributes to addressing market failures and avoids crowding-out effects, without increasing its overall financing costs;

Amendment 15 #

Motion for a resolution
Paragraph 2 a (new)

2 a. Takes note of the approval by the Board of Directors of the ‘EIB Group Operational Plan 2023-2025 confirming EIB’s alignment with the EU political priorities and its commitment to step up its ambition for twin transition;

Amendment 16 #

Motion for a resolution
Paragraph 3 a (new)

3 a. Notes that EIB financing plays an increasingly important role in the context of high interest rates and stretched public finances;

Amendment 17 #

Motion for a resolution
Paragraph 3 b (new)

3 b. In the context of a challenging economic outlook and increased global competition, expects the EIB to address constraints to EU competitiveness such as volatile energy prices, skills shortages in key sectors and insufficient investments in innovation and new technologies;

Amendment 18 #

Motion for a resolution
Paragraph 4

4. ~~Calls on the EIB to address systemic shortcomings that prevent certain regions or countries from taking full advantage of its financial activiti~~Stresses the importance of avoiding further geographical imbalances in the EIB’s lending activities so as to ensure a broader geographical and sectoral allocation of investments, reduce regional disparities and enhance economic and social convergence; calls on the EIB to address systemic shortcomings that prevent certain regions or countries from taking full advantage of its financial activities; invites the EIB to assess, in particular, whether the geographical distribution of financing under InvestEU is balanced, especially as regards smaller Member States;

Amendment 19 #

Motion for a resolution
Paragraph 4

4. Calls on the EIB to address systemic shortcomings that prevent certain regions or countries from taking full advantage of its financial activities; stresses the importance of avoiding further geographical imbalances in the EIB’s lending activity so as to ensure a broader geographical and sectoral allocation of investments, reduce regional disparities and enhance economic and social convergence;

Amendment 2 #

Motion for a resolution
Citation 21 a (new)

– having regard to the EIB Group’s strategy on gender equality and women’s economic empowerment and to its gender action plan,

Amendment 20 #

Motion for a resolution
Paragraph 4

4. Calls on the EIB to address systemic shortcomings that prevent certain regions or countries from taking full advantage of its financial activities without jeopardising the commercial viability of its portfolio;

Amendment 21 #

Motion for a resolution
Paragraph 5

5. Calls on the EIB to support projects that deliver on the implementation of the European Pillar of Social Rights and the UN Sustainable Development Goals; calls on the EIB to expand its role in addressing investment gaps in social infrastructure and welfare, such as affordable and energy efficient social housing, utilities, public transport, sustainable transport and education, while ensuring additionality and complementarity with other public funds and commercial lenders; invites the EIB to increase the weighting of social benefits in project appraisals in order to provide long-term affordable solutions, in the context of a cost of living crisis and unforeseen drop in living standards; asks the EIB to enhance risk taking for projects providing essential services with long-term clear and measureable benefits;

Amendment 22 #

Motion for a resolution
Paragraph 5

5. Calls on the EIB to expand its role in addressing investment gaps in social infrastructure and welfare, such as social housing, utilities, public transport, sustainable transport, culture and education, while ensuring additionality and complementarity with other public funds and commercial lenders; expects the EIB to engage more actively in investments related to education, culture and cultural heritage, youth and digital transformation; calls for the EIB to support more infrastructure investments in education and healthcare to improve the life of all Europeans;

Amendment 23 #

Motion for a resolution
Paragraph 5

5. Calls on the EIB to expand its role in addressing investment gaps in social infrastructure and welfare, such as social housing, public healthcare, utilities, public transport, sustainable transport and education, while ensuring additionality and complementarity with other public funds and commercial lenders; calls on the EIB to support projects that deliver on the implementation of the European Pillar of Social Rights;

Amendment 24 #

Motion for a resolution
Paragraph 6

6. SRecalls that SMEs are the backbone of Europe’s economy; recalls that the EU’s 23 million SMEs account for 99 % of all businesses and provide around three quarters of all jobs; points out that the energy crisis and the consequences of Russia’s war in Ukraine pose further challenges for them; stresses the role of the European Investment Fund in improving access to finance for smaller EU companies, mid- caps and start-ups; calls on the EIB to provide additional growth capital to enable small and medium-sized enterprises to scale up their operations; points out that a stable energy supply is one of the foundations of a successful industrial policy, in particular for small and medium-sized enterprises (SMEs);

Amendment 25 #

Motion for a resolution
Paragraph 6

6. Stresses the role of the European Investment Fund in improving access to finance for smaller EU companies, mid- caps and start-ups; calls on the EIB to provide additional growth capital to enable small and medium-sized enterprises (SMEs) to scale up their operations by improving financing conditions and diversifying the sources of finance available to SMEs; recalls that SMEs constitute the backbone of the economy, representing the overwhelming majority of EU enterprises and generating more than 50% of the total added value produced by EU businesses; underlines that supporting SMEs is a key objective for the EIB; calls on the EIB to further enhance its efforts in expanding their financing capacity;

Amendment 26 #

Motion for a resolution
Paragraph 6

6. Stresses the role of the European Investment Fund in improving access to finance for smaller EU companies, mid- caps and start-ups and thereby its support to entrepreneurship, growth, innovation, research and development, and employment in the Union; points out that stable energy supply at competitive prices is one of the foundations of a successful industrial policy, and in particular for small and medium-sized enterprises (SMEs); calls on the EIB to provide additional growth capital to enable small and medium-sized enterprises to scale up their operations;

Amendment 27 #

Valentino GRANT, Eric MINARDI

Motion for a resolution
Paragraph 6

6. Stresses the role of the European Investment Fund in improving access to finance for smaller EU companies, mid- caps and start-ups; calls on the EIB to adopt a higher risk appetite in terms of provideing additional growth capital to enable small and medium-sized enterprises to scale up their operations; stresses the need for the EIB to have a strong focus on start-ups and projects focused on creating and retaining high-quality jobs;

Amendment 28 #

Motion for a resolution
Paragraph 6

Amendment 29 #

Motion for a resolution
Paragraph 6 a (new)

6 a. Invites the EIB to step up its investment in European security and defence, especially in safeguarding the delivery of assistance to Ukraine, as geo- political turbulence in Europe's neighbourhood and beyond is likely to continue; invites the EIB to assess where it could contribute to closing the investment gap and play a role in safeguarding the security of the EU;

Amendment 3 #

Motion for a resolution
Recital -A (new)

-A. Whereas the EIB Group consists of the European Investment Bank (EIB) and the European Investment Fund (EIF) and is the biggest multilateral financial institution in the world and one of the largest providers of climate finance, operating in the international capital markets offering competitive terms to clients and favourable conditions to support EU policies and projects both inside and outside the Union;

Amendment 30 #

Motion for a resolution
Paragraph 6 a (new)

6 a. Calls on the EIB to focus on smaller, citizens-led projects by strengthening technical assistance in order to improve accessibility of EIB funding for all; calls, in this regard, for an adequate funding of advisory services in the next EU budget and Multiannual Financial Framework to speed up ground implementation of financed projects;

Amendment 31 #

Motion for a resolution
Paragraph 6 a (new)

6 a. Recalls that SMEs are the backbone of Europe’s economy; recalls that the EU’s 23 million SMEs account for 99 % of all businesses and are responsible for around three quarters of all jobs; points out that the energy crisis and the consequences of Russia’s war in Ukraine pose further challenges for them;

Amendment 32 #

Motion for a resolution
Paragraph 6 b (new)

6 b. Welcomes that EIB lending in Artificial Intelligence (AI) totalled EUR 2.9 billion in the past five years; considers, however, the volume of lending to be modest in comparison to the significance of AI in shaping our future societies and economies: calls on the EIB to step up investment in digitalisation and key technologies such as AI, cyber and quantum technologies, biotech and space; considers increased investment into future technologies as well as into upskilling and reskilling workers essential for a strong industrial base;

Amendment 33 #

Motion for a resolution
Paragraph 6 b (new)

6 b. Notes the ongoing high level of inflation and, in this regard, asks the EIB to assess the potentially greater financial needs on a project-by-project basis;

Amendment 34 #

Motion for a resolution
Paragraph 6 c (new)

6 c. Urgently calls for increased support for SMEs and mid-cap companies amid the current challenges of soaring energy costs, increasing raw material prices, and rising interest rates; recognizes that SMEs often grapple with limited administrative resources and face steeper borrowing costs than large corporations due to less favourable bank loan terms and finds it imperative to offer them financing tools that are straightforward and easily accessible; strongly encourages the EIB, therefore, to design its programmes in a manner that significantly reduces red tape and regulatory burden, thereby enhancing their accessibility for SMEs;

Amendment 35 #

Motion for a resolution
Paragraph 6 d (new)

6 d. Stresses the need for the EIB to have a strong focus on start-ups and projects directed at tackling the growing problem of youth unemployment, including the so-called dual apprenticeship-model that proved to be effective and successful in some Member States, with a view to creating secure and high-quality jobs;

Amendment 36 #

Motion for a resolution
Paragraph 6 e (new)

6 e. Urges the EIB to increase support directed at scaling up European start-ups, including by taking greater risks in disbursing venture capital to ensure that European start-ups can scale up inside rather than outside the EU;

Amendment 37 #

Motion for a resolution
Subheading 1

~~EU’s climate bank: climate action and environmental sustainability objectives~~Support for innovation, small and medium-sized enterprises, industry and digitalisation

Amendment 38 #

Motion for a resolution
Paragraph 7

7. CRecalls ~~on the EIB to develop a method of assessing the green funding gap in~~that SMEs are the backbone of Europe’s economy; recalls that the EU’s 23 million SMEs account for 99 % of all businesses and provide around three quarters of all jobs; points out that the energy crisis and the consequences of Russia’s war in Ukraine pose further challenges for the EUm;

Amendment 39 #

Motion for a resolution
Paragraph 7

7. ~~Calls on the EIB to develop a method of assessing the green funding gap in~~Takes note of the findings in the EIB "Investment Report 2022/2023: Resilience and renewal in Europe.", which analyses the investment climate across the EU and investment gaps in various sectors; recalls that the Commission and other international bodies produce specific assessments of green investment funding gaps that could be of use for the EUIB;

Amendment 4 #

Motion for a resolution
Recital A

A. whereas under Article 309 TFEU, the EIB is tasked with contributing ~~to the achievement of the EU’s objectives~~, by having recourse to the capital market and utilising its own resources, to the balanced and steady development of the internal market in the interest of the Union;

Amendment 40 #

Motion for a resolution
Paragraph 7

7. Calls on the EIB to develop a method of assessing the green and social funding gap in the EU;

Amendment 41 #

Motion for a resolution
Paragraph 7 a (new)

7 a. Reminds that in 2022, the EIB provided financing amounting to a total investment of EUR 16.35 billion for SMEs and mid-caps; notes that according to the EIB’s assessment, EIB Group operations providing debt support to SMEs totalled almost EUR 20 billion in annual net signatures between 2010 and 2020; calls on the EIB to reflect on ways to further facilitate its support to SMEs, in particular for smaller financing projects;

Amendment 42 #

Motion for a resolution
Paragraph 7 a (new)

7 a. Recalls that the EIB is the world’s largest multi-currency issuer of green bonds; points out that increasing the proportion of euro-denominated bonds would further strengthen the international role of the euro;

Amendment 43 #

Motion for a resolution
Paragraph 7 b (new)

7 b. Highlights the fact that support to SMEs and mid-caps must be increased further from current levels, particularly in the context of high energy prices and rising raw material and interest rate costs; stresses that SMEs often have limited administrative resources and pay more than large companies to borrow money since they must accept bank loans with poorer terms, and would thus benefit from having financing channels that are easy to access; calls on the EIB, therefore, to design its programmes in a way that avoids unnecessary red tape and regulatory burdens, thus making them as accessible as possible to SMEs;

Amendment 44 #

Motion for a resolution
Paragraph 7 b (new)

7 b. Reminds that the green transition must be inclusive and fair, that green investments must be viable and expects the EIB, therefore, to leverage its lending, financial instruments, technical assistance and advisory services to support citizens and businesses facing socio-economic challenges deriving from achieving climate neutrality by 2050 at the latest; invites the EIB to support projects delivering affordable access to renewable energy, housing and public services, community-led initiatives, and small projects with a particular focus on fighting energy poverty as a priority;

Amendment 45 #

Motion for a resolution
Paragraph 7 c (new)

7 c. Points out that stable energy supply is the cornerstone of a successful industrial policy, particularly for SMEs; highlights the merits of and the innovation in nuclear power in this regard;

Amendment 46 #

Motion for a resolution
Paragraph 7 d (new)

7 d. Reiterates its call on the EIB to complement efforts to build data-driven solutions, with a particular focus on SMEs’ competitiveness, and to focus its investment in this field on bridging digital divides both within the EU and between the EU and other technologically more advanced regions of the world; urges the EIB to increase support directed at scaling up European start-ups, including by taking greater risks in disbursing venture capital to ensure that European start-ups can scale up in the EU rather than outside it;

Amendment 47 #

Motion for a resolution
Paragraph 8

8. ~~Expect~~Welcomes that the Bank has already met its target to devote at least half of its resources to climate action and environmental sustainability; commends the review of ~~the~~EIB’s Climate Bank Roadmap ~~in 2024 to bring the EIB~~and Energy Lending Policy, which confirms that the Bank is on track to meet its targets to support EUR 1 trillion in green investments by 2030; expects the next review of the Climate Bank Roadmap to bring the EIB's internal operations and newly financed operations fully into line with the 1.5 degree pathway and the target of climate neutrality by 2050 at the latest; believes that the benchmark should be the most ambitious public banking practices; reiterates its call to include a solid assessment of less carbon- intensive alternatives and ‘scope 3’ emissions for each project;

Amendment 48 #

Motion for a resolution
Paragraph 8

8. Expects the review of the Climate Bank Roadmap in 2024 to bring the EIB fully into line with the 1.5 degree pathway and the target of climate neutrality by 2050 at the latest, whilst ensuring a just transition for all, especially in the context of a cost of living crisis and an unforeseen drop in living standards; believes that the benchmark should be the most ambitious public banking practices; reiterates its call to include a solid assessment of less carbon- intensive alternatives and ‘scope 3’ emissions for each project;

Amendment 49 #

Motion for a resolution
Paragraph 8

8. ~~Expects the review of the Climate Bank Roadmap in 2024 to bring the EIB fully in~~Welcomes the 2022-2023 EIB Investment report that analyses the investment climate across the EU; invites the EIB to evaluate what additional efforts could be undertaken in its next review of the Climate Bank Roadmap to aligne with the 1.5 degree pathway and the target of climate neutrality by 2050 at the latest; bwelieves that the benchmark should be the most ambitious public banking practices; reiterates its call to include a solid assessment of less carbon- intensive alternatives and ‘scope 3’ emissions for each projectcomes the EIB's ambitious public banking practices;

Amendment 5 #

Motion for a resolution
Recital B a (new)

B a. Whereas over 2021-2027, InvestEU’s EUR 26.2 billion guarantee, with provisioning from the Multiannual Financial Framework (MFF) and Next Generation EU, is expected to mobilise more than EUR 372 billion in additional private and public investment in Europe, mainly for sustainable infrastructure, research innovation and digitalisation, SMEs and social investment and skills;

Amendment 50 #

Motion for a resolution
Paragraph 8 a (new)

8 a. Finds that, when assessing projects to be financed, criteria such as inclusiveness, accessibility, fairness and living standards should also be reflected; calls on the EIB to stick to its Environmental and Social Standards and give financial priority to projects involving vulnerable or marginalised persons, especially young people;

Amendment 51 #

Motion for a resolution
Paragraph 9

9. ~~Calls for the full implementation of the Paris Alignment for Counterparties; expects the exemptions granted under the Paris Alignment’s framework in~~Invites the EIB to look into the economic and decarbonisation potential of new nuclear technologies; reminds that cleantech start-ups have massive capital needs from day one; highly welcomes the EIB's contribution to support ofthe REPowerEU ~~to be exceptional, temporary and fully justified~~Plan with an additional EUR 30 billion in loans and equity financing over the next five years; notes that these additional funds will be directed to renewables, energy efficiency, grids and storage, electric-vehicle charging infrastructure, and breakthrough technologies, such as low-carbon hydrogen;

Amendment 52 #

Motion for a resolution
Paragraph 9

9. ~~Calls for the full implementation of the P~~Welcomes the Paris Alignment of counterparties (PATH) and expects its full implementation; reiterates its call for financial intermediaries ~~Alignment for Counterparti~~and not only corporate clients to have decarbonisation plans as soon as possible and by the end of 2025 at the latest; ~~expects the exemptions granted under the Paris Alignment’s framework in~~stresses that such new requirements must not be to the detriment of access to finance for SMEs; welcomes the EIB's response to the emergency energy situation in the EU by adapting the PATH framework in order to be able to speed up the green transition and to end Europe's dependencies on fossil-fuels imports, including from Russia; in this context, welcomes the EIB's increase of the support tof REPowerEU to ~~be exceptional, temporary and fully justified~~now EUR 45 billion in loans and equity financing for projects in the area of renewables, energy efficiency, grids and storage, electric-vehicle charging infrastructure, and breakthrough technologies over the next years;

Amendment 53 #

Motion for a resolution
Paragraph 9

9. Calls for the full implementation of the Paris Alignment for Counterparties, which covers both low-carbon and climate resilience aspects of a corporate strategy; expects the exemptions granted under the Paris Alignment’s framework in support of REPowerEU to be exceptional, temporary and fully justified;

Amendment 54 #

Motion for a resolution
Paragraph 10

10. ~~Reitera~~Notes that corporate clients are contractually required to create and publish credible decarbonisation plans; is concerned that the EIB has signed contracts with corporate clients regardless of whether they have published these plans; expects the EIB to systematically evaluate the credibility of these plans, applying decarbonisation criteria compatible with the 1.5 degree target before signing any new financial commitmentsthe Paris Alignment for Counterparties (PATH) framework in support of REPowerEU provides an exception for the EIB to work with companies still involved in activities deemed incompatible with the Paris Agreement, such as oil and gas majors, in the context of highly innovative green projects; welcomes the decision of the EIB to extend these exemptions to all renewable energy projects and electric- vehicle charging in response to the emergency energy situation in the EU following the war of aggression against Ukraine and the objective of ending dependency on Russian fossil-fuel imports; reminds that all recipients of EIB financing are contractually required to create and publish a credible Paris- alignment strategy (“decarbonisation plans”), which will include mid-term, rolling, quantitative emission reduction targets and options over a longer time horizon to achieve carbon neutrality towards mid-century;

Amendment 55 #

Motion for a resolution
Paragraph 10

10. Reiterates that corporate clients are contractually required to create and publish credible decarbonisation plans; is concerned that the EIB has signed contracts with corporate clients regardless of whether they have published these plans; expects the EIB to systematically evaluate the credibility of these plans, applying decarbonisation criteria compatible with the 1.5 degree target before signing any new financial commitments;

Amendment 56 #

Motion for a resolution
Paragraph 10

10. Reiterates that corporate clients are contractually required to create and publish credible decarbonisation plans which should include mid-term, rolling and quantitative emission reduction targets and options over a longer time frame in order to achieve climate neutrality by 2050 at the latest; is concerned that the EIB has signed contracts with corporate clients regardless of whether they have published these plans; expects the EIB to systematically evaluate the credibility of these plans, applying decarbonisation criteria compatible with the 1.5 degree target before signing any new financial commitments;

Amendment 57 #

Motion for a resolution
Paragraph 10 a (new)

10 a. Reiterates its call for the EIB to work only with financial intermediaries that have a credible decarbonisation plan, including short-term targets that are compatible with the 1.5-degree pathway and that will be put in place as soon as possible and by 2025 at the latest;

Amendment 58 #

Motion for a resolution
Paragraph 10 b (new)

10 b. Stresses the key role played by the EIB in ensuring a just transition; calls on the EIB to lower the minimum loan amount for individual projects or loan schemes contributing to the just transition ; encourages the EIB to intensify cooperation with national and regional financial institutions to deliver targeted financing; calls on the EIB to contribute to achieving the EU’s objectives on equality between women and men in this context; welcomes the involvement of the EIB in the EU Just Transition Mechanism in order to address the socio- economic impact of the transition to net- zero economy and to generate new opportunities for sustainable development in eligible regions;

Amendment 59 #

Motion for a resolution
Paragraph 11

11. Calls on the EIB to adapt its de- risking activities in order to steer private finance towards projects that have a high level of additionality and contribute to a just transition without jeopardising the commercial viability of its portfolio; invites the EIB to learn lessons from the implementation of products such as the climate and infrastructure funds, including the relevance of intermediated equity and the necessity of improving the risk-reward ratios in smaller-scale green infrastructure projectsfinance viable projects that align with the EU taxonomy; invites the EIB to adapt its energy lending policy accordingly in order to fully support investment in EU Small Modular Reactors (SMRs);

Amendment 6 #

Motion for a resolution
Recital B b (new)

B b. Whereas the EIB will support REPowerEU with an additional EUR 45 billion in loans and equity financing over the next five years;

Amendment 60 #

Motion for a resolution
Paragraph 12

12. ~~Takes note of~~Welcomes the upscaled investment in hydrogen; insists that the role of hydrogen is to reduce emissions from hard-to-abate industrial sectors; expects additionality to be ensured so as to avoid diverting resources from existing renewable electricity; is concerned about the significant impacts of hydrogen projects on the water supply in a context of increasing drought, as well as its impact on biodiversity; is concerned about de-risking private investments for large- scale green hydrogen projects, in particular in view of their limited commercial viabilityvites the EIB to offer its advisory expertise to the EU hydrogen ecosystem and to assist the development of the renewable and low-carbon hydrogen market;

Amendment 61 #

Motion for a resolution
Paragraph 12

12. ~~Takes note of the~~Welcomes upscaled investment in hydrogen; insists that the role of hydrogen is to reduce emissions from hard-to-abate industrial sectors; expects additionality to be ensured so as to avoid diverting resources from existing renewable electricity; is concerned about the significant impacts of hydrogen projects on the water supply in a context of increasing drought, as well as its impact on biodiversity; is concerned about de-risking private investments for large- scale green hydrogen projects, in particular in view of their limited commercial viabilitynvites the EIB to offer its advisory expertise to the EU hydrogen ecosystem and to assist the development of the green hydrogen market;

Amendment 62 #

Motion for a resolution
Paragraph 12

12. Takes note of the upscaled investment in hydrogen; insists that the role of hydrogen is to contribute to the transition to climate-neutrality by reduceing emissions from hard-to-abate industrial sectors; expects additionality to be ensured so as to avoid diverting resources from existing renewable electricity as per the relevant delegated act1a; is concerned about the significant impacts of hydrogen projects on the water supply in certain regions in a context of increasing drought, as well as its impact on biodiversity; ~~is concerned about de- risking private investments for large-scale green hydrogen projects, in particular in view of their limited commercial viability;~~ _________________ 1a Commission Delegated Regulation (EU) 2023/1184 of 10 February 2023 supplementing Directive (EU) 2018/2001 of the European Parliament and of the Council by establishing a Union methodology setting out detailed rules for the production of renewable liquid and gaseous transport fuels of non-biological origin

Amendment 63 #

Motion for a resolution
Paragraph 12 a (new)

12 a. Takes note of the EIB´s interest in financing green hydrogen production in India for EUR 1 billion; recalls that India scores a dismal 40/100 on the Transparency International Corruption Perceptions Index; calls on the EIB to step up its anti-corruption rules and finally adopt a credible and effective anti- money laundering framework to prevent EIB money from being used to bribe officials, or other illicit and illegal activities;

Amendment 64 #

Motion for a resolution
Paragraph 13

13. Underlines that the EIB’s environmental and social policy strengthens the commitment to promote and implement the objectives of the Convention on Biological Diversity and the post-2020 Global Biodiversity Framework, in particular the requirement that financed projects cause no significant harm to biodiversity and ecosystems; welcomes the change from ‘no net loss’ to ‘no loss’ of biodiversity; ~~insists on~~strives for the full application of the EIB’s environmental and social policy, in particular in renewable energy projects; ~~expect~~urges the EIB to fully align its environmental and social policy with the post-2020 Global Biodiversity Framework;

Amendment 65 #

Motion for a resolution
Paragraph 14

14. EWelcomes the first common principles for nature-positive finance published by the EIB together with other Multilateral Development Banks at COP28; expects the EIB to continue engageing more actively in nature-positive and biodiversity-enhancing investments and in sectors with the greatest biodiversity co- benefits, such as water, sanitation, forestry and the ocean, with the highest level of integrity and assurances and integrating the lessons learned from the Natural Capital Financing Facility;

Amendment 66 #

Motion for a resolution
Paragraph 14

14. Expects the EIB to engage more actively in nature-positive and biodiversity-enhancing investments and in sectors with the greatest biodiversity co- benefits, such as water, sanitation, forestry and the ocean, with the highest level of integrity and assurances and integrating the lessons learned from the Natural Capital Financing Facility; invites the EIB to adopt a systemic view and give equal attention to social, economic and environmental dimensions;

Amendment 67 #

Motion for a resolution
Paragraph 14

14. Expects the EIB to engage more actively in nature-positive and biodiversity-enhancing investments and in sectors with the greatest biodiversity co- benefits, such as water, sanitation, forestry and the ocean, with the highest level of integrity and assurances and integrating the lessons learned from the Natural Capital Financing Facility; expects the EIB to increase financing for solutions reducing plastic pollution;

Amendment 68 #

Motion for a resolution
Paragraph 14

14. Expects the EIB to engage more actively in nature-positive and biodiversity-enhancing investments and in sectors with the greatest biodiversity co- benefits, such as water, sanitation, forestry and the ocean, with the highest level of integrity and assurances ~~and~~, integrating the lessons learned from the Natural Capital Financing Facility and respecting the demand-driven nature of EIB financing operations;

Amendment 69 #

Motion for a resolution
Paragraph 14

14. Expects the EIB to engage more actively in nature-positive and biodiversity-enhancing investments and in sectors with the greatest biodiversity co- benefits, such as water management, sanitation, forestry and the ocean, with the highest level of integrity and assurances especially regarding local communities' rights, and integrating the lessons learned from the Natural Capital Financing Facility;

Amendment 7 #

Motion for a resolution
Paragraph -1 (new)

-1. Overview of policies and operations

Amendment 70 #

Motion for a resolution
Paragraph 14 a (new)

14 a. Expects the new forestry lending paper to ensure that EIB lending promotes sustainable forest management, encourages the sustainable use of wood- based materials, fosters the wider bio- economy and guarantees that it does not directly or indirectly contribute to deforestation or afforestation;

Amendment 71 #

Motion for a resolution
Paragraph 15

15. Expects enhanced efforts to mainstream nature in analyses and operations assessing the financial risk of biodiversity loss at counterparty level; expects nature-positive elements to be systematically required for large-scale infrastructure projects, especially for urban investments; warns against projects contributing to climate objectives that do not take into account impacts on biodiversity; is concerned that in at least one occurrence, the EIB funded a project that contributed to significant direct loss of biodiversity in an urban area subject to severe heatwaves;

Amendment 72 #

Motion for a resolution
Paragraph 15

15. Expects enhanced efforts to mainstream nature in analyses and operations assessing the financial risk of biodiversity loss at counterparty level; expects nature-positive elements to be ~~systematically required for~~incorporated in large-scale infrastructure projects~~, especially for urban investments~~; warns against projects contributing to climate objectives that do not take into account impacts on biodiversity;

Amendment 73 #

Motion for a resolution
Paragraph 17

17. Expects the EIB to continue to apply stringent EU animal welfare standards and applicable legislation, including for breeding activities and feed in fish farming, based on the highest standard set by ~~multilateral financial institutions~~the EU and international best practice;

Amendment 74 #

Motion for a resolution
Paragraph 17

17. Expects the EIB to continue to apply stringent EU animal welfare standards, including for breeding activities and feed in fish farming, based on the highest standard set by ~~multilateral financial institutions~~the EU;

Amendment 75 #

Motion for a resolution
Paragraph 18

18. ~~Emphasises the need for a circular economy approach to critical raw materials, based on recycling and reuse, in order to reduce the EU’s dependence on third countrie~~Highlights that the security of supply of critical raw materials is crucial both for the green and digital transitions as well as for the defence sector and for the EU industrial base in general; emphasises a circular economy approach to critical raw materials, based on recycling and reuse, in order to reduce the EU’s dependence on third countries; calls, therefore, on the EIB to invest more in the critical raw materials sector to help diversify the supply of both primary and secondary raw materials and to develop circular economy solutions, in particular R&D for alternative materials, such as bio-based materials;

Amendment 76 #

Motion for a resolution
Paragraph 18

18. ERecalls the role played by the EIB in the EU Raw Material Alliance and the Union’s aim of becoming more autonomous as regards the Critical Raw Materials (CRM) supply; emphasises the need for a circular economy approach to ~~critical raw materials~~CRM, based on recycling and reuse, in order to reduce the EU’s dependence on third countries; calls on the EIB to invest more in the CRM sector to enhance resilience in raw materials and calls, in particular, on the EIB to support CRM- related projects that aim first and foremost at avoiding any new mining processes and recycling secondary raw material, and to foster circular economy solutions;

Amendment 77 #

Motion for a resolution
Paragraph 18

18. Emphasises the need for a circular economy approach to critical raw materials, based on recycling and reuse, in order to reduce the EU’s dependence on third countries and strengthen the EU’s strategic autonomy;

Amendment 78 #

Motion for a resolution
Paragraph 18 a (new)

18 a. Stresses the enormous social and economic consequences deriving from the COVID-19 crisis followed by the invasion of Ukraine and their impact on fair, inclusive and sustainable growth, investment, resilience, employment, education and socio-economic inequalities;

Amendment 79 #

Motion for a resolution
Paragraph 19

19. Welcomes the EU for Ukraine initiative established by the EIB as a short-term and targeted initiative to enable the Bank to continue supporting Ukraine while new instruments are established under the Ukraine Facility; recalls in this context the importance of the EU budget as the sole guarantor for the EIB’s activity providing loans outside the EU in support of EU policies; calls for an increase in the guarantees granted to the EIB by the EU budget in order to allow the EIB to continue to deliver vital public- and private-sector operations in Ukraine and expand its activities in the Global South; ; welcomes the fact that all EIB actions in Ukraine are guided by the priorities for reconstruction and will be fully aligned with the upcoming Ukraine plan; welcomes the technical assistance component to ensure optimal project preparation and implementation, as well as capacity building measures; welcomes the EIB’s efforts to prevent, deter and investigate fraud and corruption in relation to its projects in Ukraine;

Amendment 8 #

Motion for a resolution
Paragraph 1

1. Reiterates the important role played by the EIB as the EU public bank and as the only international financial institution entirely owned by Member States ~~with operations~~, fully guided by EU polic~~y objectiv~~ies and subject to EU legal standards with the goal of supporting the social and economic recovery and targeting investments for the materialisation of the Union’s objectives;

Amendment 80 #

Motion for a resolution
Paragraph 19

19. Welcomes the new EU for Ukraine initiative launched by the EIB in March 2023 to finance reconstruction and recovery in Ukraine and conceived as a temporary scheme which will enable continued EIB engagement in the country while expected medium term EU support is put in place; welcomes the fact that all EIB actions in Ukraine are guided by the priorities for reconstruction and will be fully aligned with the upcoming Ukraine plan; welcomes the technical assistance component to ensure optimal project preparation and implementation, as well as capacity building measures; welcomes the EIB’s efforts to prevent, deter and investigate fraud and corruption in relation to its projects in Ukraine;

Amendment 81 #

Motion for a resolution
Paragraph 19

19. Welcomes the EU for Ukraine initiative; welcomes the fact that all EIB actions in Ukraine are guided by the priorities for reconstruction and will be fully aligned with the upcoming Ukraine plan; welcomes the technical assistance component to ensure optimal project preparation and implementation, as well as capacity building measures; expects that the upcoming Rapid Damage Needs Assessment 3 carried out by the World Bank in coordination with the Commission, the EIB and the Ukrainian government will identify significantly increased needs; welcomes the EIB’s efforts to prevent, deter and investigate fraud and corruption in relation to its projects in Ukraine;

Amendment 82 #

Motion for a resolution
Paragraph 19

19. Welcomes the EU for Ukraine initiative; welcomes the fact that all EIB actions in Ukraine are guided by the priorities for reconstruction and will be fully aligned with the upcoming Ukraine plan; welcomes the technical assistance component to ensure optimal project preparation and implementation, as well as capacity building measures; welcomes the EIB’s efforts to prevent, deter and investigate fraud and corruption in relation to its projects in Ukraine; calls for the EIB to take into consideration the geopolitical situation and investments needed in frontline countries, including infrastructure and facility transport, border protection, Schengen;

Amendment 83 #

Motion for a resolution
Paragraph 19

19. Welcomes the EU for Ukraine initiative; welcomes the fact that all EIB actions in Ukraine are guided by the priorities for ~~reconstruc~~economic and social recovery, reconstruction and modernisation and will be fully aligned with the upcoming Ukraine plan; welcomes the technical assistance component to ensure optimal project preparation and implementation, as well as capacity building measures; welcomes the EIB’s efforts to prevent, deter and investigate fraud and corruption in relation to its projects in Ukraine; underlines, however, that EIB and EU support alone is not enough to address Ukraine's financing needs;

Amendment 84 #

Motion for a resolution
Paragraph 19 a (new)

19 a. Welcomes the EIB's support for the EU’s security and defence agenda and the decision to provide both more financing and a broader range of support for security and defence; expresses its support for the decision by the EIB's Board of Directors in June 2023 to increase its financing for security and defence up to EUR 8 billion due to the new geopolitical environment and rising financing needs in the sector;

Amendment 85 #

Motion for a resolution
Paragraph 19 a (new)

19 a. Recalls the fact that the war has created a severe humanitarian crisis and has had a fundamental impact on the economic, social and security situation in the EU and its neighbourhood; stresses that the changes in supply chains and trade and economic relations caused by the war should be taken into account in future investment planning;

Amendment 86 #

Motion for a resolution
Paragraph 20

20. Expects EIB Global’s activities to remain aligned with EU strategic interests and external policy objectives; expects EIB Global to ensure that investments are additional, create long term positive impacts and clearly benefit recipient communities, by safeguarding natural heritage, enhancing climate resilience, creating local jobs and alleviating poverty; reminds the EIB to ensure a coordinated approach with other actors contributing to the European financial architecture for development, in order to deliver a stronger development impact; recalls furthermore that the successful implementation of EIB Global requires an adequate level of staff based on the ground, including local workers;

Amendment 87 #

Motion for a resolution
Paragraph 19 a (new)

19 a. Underlines that Russia's war of aggression has also impacted regions in the EU and caused significant economic impact, especially in the Eastern border countries of the EU; calls on the EIB to take this into account in its financing decisions;

Amendment 88 #

Motion for a resolution
Paragraph 19 b (new)

19 b. Invites the EIB to expand the Strategic European Security Initiative (SESI) programme and further step up its investments in European security and defence; requests the EIB to assess where it can contribute to closing the investment gap and play a role in safeguarding the security of the EU, taking into account relevant international law considerations;

Amendment 89 #

Motion for a resolution
Paragraph 20

20. Expects EIB Global’s activities to remain aligned with EU strategic interests and external policy objectives; expects EIB Global to ensure that investments clearly benefit recipient communities, by safeguarding natural heritage, enhancing climate resilience, creating local jobs and alleviating poverty; welcomes the EIB’s involvement in the Global Gateway initiative, which will principally support investments in infrastructure and SMEs, thereby contributing to the EU’s objective of enhancing its strategic autonomy;

Amendment 9 #

Motion for a resolution
Paragraph 1 a (new)

1 a. Appreciates the fact that the EIB is always ready to adapt and reinvent itself in line with changing EU policy requirements, while respecting its long- term goals;

Amendment 90 #

Motion for a resolution
Paragraph 20

20. ~~Expects~~Calls on the EIB to phase out EIB Global’´s activities ~~to remain aligned wi~~in light of the ongoing economic crisis in the EU strategic interests and external policy objectives; expects EIB Global to ensure that investments clearly benefit recipient communities, by safeguarding natural heritage, enhancing climate resilience, creating local jobs and alleviating povertyfollowing the COVID crisis, the ongoing trade war between our main trading partners, long periods of unusually high inflation and interest rates, and the accumulation of unprecedented levels of public debt, which will curb the investment capabilities of individiual Member States, especially those where investments are most needed; calls on the EIB to adopt a Europe First Strategy and Principle;

Amendment 91 #

Motion for a resolution
Paragraph 20 a (new)

20 a. expects the EIB be consistent with the goal of achieving net zero emissions by 2050 at the latest;

Amendment 92 #

Motion for a resolution
Paragraph 20

20. Expects EIB Global’s activities to remain aligned with EU strategic interests and external policy objectives; expects EIB Global to ensure that investments clearly benefit recipient communities, by safeguarding natural heritage, enhancing climate resilience, creating local jobs and alleviating poverty; believes that recipient country stakeholders, such as public authorities, civil society and social partners need to be involved in deciding on and implementing Global Gateway;

Amendment 93 #

Motion for a resolution
Paragraph 20

Amendment 94 #

Motion for a resolution
Paragraph 20 b (new)

20 b. 20a Notes that since the new development branch was set up, EIB Global has made record use of the dedicated investment window provided by the NDICI- Global Europe, delivering over EUR 10 billion in 2022, notably in support of Ukraine and the Global Gateway

Amendment 95 #

Motion for a resolution
Paragraph 21

21. Takes note of the EIB Global strategic roadmap and the expectation that it will facilitate at least one third of the EUR 300 billion in investments set out to be generated by the end of 2027; welcomes progress made towards setting up the Global Gateway Fund under the EFSD+ guarantee, which is expected to finance high-impact private sector investments and provide equity and debt financing for high-impact infrastructure, clean energy and human development projects around the world; expresses concern over the lack of inclusive and meaningful consultations with stakeholders who are impacted by its operations; calls for more support for projects with limited bankability and high public returns, and to lower the minimum loan amount for individual projects, particularly in less developed countries; reiterates its call for EIB Global to limit blending operations to areas where they can add value to the local economy and to ensure that blended finance is not used for essential public services;, particularly health, education and social protection, as monetisation could exacerbate existing inequalities and jeopardise universal access to these services; expresses its concerns about significant direct and indirect EIB investments in for-profit health-care providers in the Global South, that directly undermine EU development policy goals and in particular universal access to healthcare, as private health- care services have led to worse health outcomes as compared to government- provided health-care, and have impoverished patients, in particular women.

Amendment 96 #

Motion for a resolution
Paragraph 21

21. Takes note of the EIB Global strategic roadmap and the expectation that it will facilitate at least one third of the EUR 300 billion in investments set out to be generated by the end of 2027; welcomes the target for 2025 of more than 50% of annual lending going towards investment in climate action and environmental sustainability; expects the financing to contribute to an inclusive and just transition globally; furthermore, expects EIB Global to contribute in a meaningful way to the EU target of 85% of all new external actions supporting gender equality by 2025; expresses concern over the lack of inclusive and meaningful consultations with stakeholders who are impacted by its operations and believes that recipient country actors should be included in the decision-making and implementation of projects; calls for more support for projects with limited bankability and high public returns; reiterates its call for EIB Global to limit blending operations to areas where they can add value to the local economy, avoid crowding out private capital and to ensure that blended finance is not used for essential public services;

Amendment 97 #

Motion for a resolution
Paragraph 22 a (new)

22 a. Is concerned about rapidly rising debt levels and higher borrowing costs in emerging and developing economies with an estimated 60% of low-income countries already in public debt distress or at high risk of debt distress1a; highlights the important role of the EIB and other multilateral institutions in providing funding on concessional terms to alleviate unsustainable debt burdens; _________________ 1a https://www.worldbank.org/en/publication /global-economic-prospects

Amendment 98 #

Motion for a resolution
Paragraph 21

21. Takes note of the EIB Global strategic roadmap and ~~the expectation~~regrets that it will facilitate at least one third of the EUR 300 billion in investments set out to be generated by the end of 2027; expresses concern over the lack of inclusive and meaningful consultations with stakeholders who are impacted by its operations; calls for more support for projects with limited bankability and high public returns, investments that are desperately needed within the EU; reiterates its call for EIB Global to limit blending operations to areas where they can add value to the local economy and to ensure that blended finance is not used for essential public services;

Amendment 99 #