Parltrack

Proposal for a decision
Recital 8 a (new)

(8a) The EIB should be granted an additional mandate of EUR 500 million for microcredit financing to improve access to bank finance for the poorest, with the aim of developing wealth- creating microprojects and reducing poverty. This activity should be developed by the EIB – either directly or via actions already being carried out by other international financial institutions or European bilateral financial institutions – through reliable local financial institutions and with appropriate monitoring of the use of the loans granted.

Amendment 15 #

Proposal for a decision
Recital 11 a (new)

(11a) In its support for SMEs, the EIB should provide financing where the greatest added value can be generated. In reaching SMEs, it should partner only with those local financial intermediary institutions that meet clear criteria developed by the Commission. Those criteria should focus on the ability to support development goals in line with EU development policy and provide added value in comparison with market financing. Support to SMEs should be fully transparent and the value added of the EIB shall be assessed regularly.

Amendment 16 #

Proposal for a decision
Recital 11

(11) In order to enhance the coherence of the mandate, strengthen the focus of the EIB external financing activity on supporting EU policies, and for the maximum benefit of beneficiaries, this decision should set out horizontal high- level objectives in the mandate for EIB financing operations across all eligible countries, building on the comparative strengths of the EIB in areas where it has a well-proven track record. In all regions covered by this decision, the EIB should thus finance projects in the areas of climate change mitigation and adaptation, social and economic infrastructure (notably in transport, energy including renewable energy, research and development in new energy sources, energy security, environmental infrastructure including water and sanitation, as well as information and communication technology (ICT)), and local private sector development, in particular in support of small and medium- sized enterprises (SMEs) to boost sustainable economic growth and jobs creation. Within these areas, regional integration among partner countries, including economic integration between pre-accession countries, neighbouring countries and the EU, should be an underlying objective for EIB financing operations. The EIB should contribute to European foreign direct investment in partner countries, including as part of mutually beneficial public-private partnerships, with the objective of promoting innovation and development in the aforementioned project areas.

Amendment 17 #

Proposal for a decision
Recital 11

(11) In order to enhance the coherence of the mandate, strengthen the focus of the EIB external financing activity on supporting EU policies, and for the maximum benefit of beneficiaries, this decision should set out horizontal high- level objectives in the mandate for EIB financing operations across all eligible countries, building on the comparative strengths of the EIB in areas where it has a well-proven track record. In all regions covered by this decision, the EIB should thus finance projects in the areas of climate change mitigation and adaptation, social and economic infrastructure (notably in transport, energy including renewable energy, energy security, environmental infrastructure including water and sanitation, as well as information and communication technology (ICT)), and local private sector development, in particular in support of small and medium- sized enterprises (SMEs) and micro- finance instruments. Within these areas, regional integration among partner countries, including economic integration between pre-accession countries, neighbouring countries and the EU, should be an underlying objective for EIB financing operations.

Amendment 18 #

Proposal for a decision
Recital 16

(16) EIB activity in Neighbourhood countries should take place in the framework of the European Neighbourhood Policy, under which the EU aims to develop a special relationship with neighbouring countries with a view to establishing an area of prosperity and good neighbourliness, founded on the values of the EU and characterised by close and peaceful relations based on co-operation. To achieve these objectives the EU and its partners implement jointly agreed bilateral Action Plans defining a set of priorities including on political and security issues, trade and economic matters, environmental concerns and integration of transport and energy networks such as the Nabucco gas pipeline project, which is of particular interest to the EU. The Union for the Mediterranean, the Eastern Partnership, and the Black Sea Synergy are multilateral and regional initiatives complementary to the European Neighbourhood Policy aimed at fostering co-operation between the EU and the respective group of neighbouring partner countries facing common challenges and/or sharing a common geographical environment. The Union for the Mediterranean supports improved socio-economic, solidarity, regional integration, sustainable development and knowledge building, underlining the need to increase financial co-operation to support regional and trans-national projects. The Eastern Partnership aims to create the necessary conditions to accelerate political association and further economic integration between the EU and Eastern Partner countries. The Russian Federation and the EU have a wide-ranging Strategic Partnership, distinct from the European Neighbourhood Policy and expressed through the Common Spaces and Roadmaps. This is complemented at multilateral level by the Northern Dimension which provides a framework for co-operation between the EU, Russia, Norway and Iceland.

Amendment 19 #

Proposal for a decision
Recital 26

(26) The EIB should be encouraged to increase its operations outside the EU without recourse to the EU guarantee ~~in ord~~so that use of the guarantee can be reserved for countries and projects with the poorest access to the market and where tohe guarantee therefore provides higher added value. Consequently, and always with the aim of supporting EU external policy objectives, the EIB should increase the amounts loaned at its own risk, particularly in pre-accession countries and neighbourhood countries and in investment grade countries in other regions, but also in sub-investment grade countries when the EIB has the appropriate third party guarantees. In ~~consultation~~agreement with the Commission, the EIB should develop a policy for deciding between the allocation of projects to either the mandate under EU guarantee or to EIB own risk financing. Such a policy would notably take into account the creditworthiness of the countries and projects concerned. When the external mandate is renewed for the 2014-2020 period, this policy should be reviewed and the list of countries eligible under the guarantee should be re- examined.

Amendment 20 #

Proposal for a decision
Recital 23

(23) The practical measures for linking the general mandate objectives and their implementation will, preceded by public consultation in the concerned regions, be set out in regional operational guidelines developed by the Commission together with the EIB, in consultation with the EEAS on policy issues, appropriate. These guidelines should take as a starting point the wider EU policy framework for each region, reflect EU country strategies and aim to ensure that EIB financing is complementary to corresponding EU assistance policies, programmes and instruments in the different regions. The guidelines should be provided to the European Parliament and Council in the framework of the annual reporting exercise on the EIB external mandate of the Commission.

Amendment 21 #

Proposal for a decision
Recital 27 a (new)

Amendment 22 #

Proposal for a decision
Recital 30

Amendment 23 #

Proposal for a decision
Recital 30

Amendment 24 #

Proposal for a decision
Recital 31

(31) EIB financing operations should continue to be managed in accordance with the EIB's own rules and procedures, including appropriate control measures and measures taken to avoid tax evasion, as well as with the relevant rules and procedures concerning the Court of Auditors and the European Anti-Fraud Office (OLAF). The EIB should not undertake any financing operations through jurisdictions classified as "tax havens" according to OECD standards,

Amendment 25 #

Proposal for a decision
Article 1 – paragraph 2

2. Eligible for EU guarantee shall be EIB loans and loan guarantees for investment projects carried out in countries covered by this decision, granted in accordance with the EIB’s own rules and procedures in support of the relevant external policy objectives of the EU, where the EIB financing has been granted according to a signed agreement which has neither expired nor been cancelled, and on condition that they do not directly or indirectly use any financial vehicle as defined in Annex IIa which would allow, or contribute to, any form of tax evasion (EIB financing operations).

Amendment 26 #

Proposal for a decision
Article 3 – paragraph 1 – point a a (new)

(aa) In line with EU and international climate change objectives, the EIB shall by 2012 present a strategy on how to halve by 2014 and completely phase out by 2016 any support to projects generating CO2 emissions, and correspondingly increase support for projects in line with point (a) of paragraph 1.

Amendment 27 #

Proposal for a decision
Article 3 – paragraph 1 – point c

(c) Local private sector development, in particular support to small- and medium- sized enterprises in line with recital 11a.

Amendment 28 #

Proposal for a decision
Article 4 – paragraph 3

3. The EU guarantee shall cover only EIB financing operations carried out in eligible countries that have concluded a framework agreement with the EIB establishing the legal conditions under which such operations are to be carried out. The EIB shall not undertake any financing operations through jurisdictions classified as "tax havens" according to OECD standards.

Amendment 29 #

Proposal for a decision
Article 4 – paragraph 5 a (new)

5a. The EIB shall not undertake any financing operation in jurisdictions which are classified as "tax havens" according to OECD standards or which are not in line with the dynamic provisions on automatic exchange of information as laid down in the Council Directive 2003/48/EC of 3 June 2003 on taxation of savings income in the form of interest payments.

Amendment 30 #

Proposal for a decision
Article 5 – paragraph 1

1. TPreceded by public consultation in the regions concerned, the Commission shall develop, together with the EIB, regional operational guidelines for EIB financing under this decision. In drawing up these guidelines the Commission and the EIB will consult with the European External Action Service (EEAS) on policy issues, as appropriate. The operational guidelines aim to ensure that EIB financing supports EU policies, and shall take as a starting point the wider EU regional policy framework set by the Commission and the EEAS, as appropriate. Notably, the operational guidelines will ensure that EIB financing is complementary to corresponding EU assistance policies, programmes and instruments in the different regions, taking into account European Parliament resolutions and Council decisions and conclusions. The Commission will inform the European Parliament and the Council of the guidelines established. Within the framework set out by the operational guidelines, the EIB shall define corresponding financing strategies and ensure their implementation.

Amendment 31 #

Proposal for a decision
Article 5 – paragraph 3 a (new)

3a. The Bank shall operate under strict performance indicators linked to development, social, environmental and human rights imperatives in line with the indicators under the Paris Declaration for aid effectiveness.

Amendment 32 #

Proposal for a decision
Article 7 a (new)

Article 7a Transparency and disclosure of information The Bank shall make documents relating to projects for which the Bank benefits from the EU guarantee directly accessible to the public in electronic form or through a register in accordance with its rules. The information to be made available and disseminated shall be updated as appropriate and shall include the following: - description/summary of the project - project appraisal reports (assessment on environmental, social, human rights and development impacts of the project) before board approval - covenants and conditions on environmental, development and human rights-related aspects of the projects - Monitoring reports on development, environmental and social related aspects of the projects - Ex-post evaluation reports on the contribution of the projects to economic development, poverty eradication, protection of the environment and strengthening of human rights.

Amendment 33 #

Proposal for a decision
Article 7 b (new)

Article 7b Public participation and consultation The EIB, together with the project promoter, shall take an active part in the organisation of the public consultation on development, environmental and social aspects of the project. The EIB shall identify the local populations affected or likely to be affected by, or having an interest in, the project financed by the EIB. The EIB shall ensure that the local population identified is informed about all key issues pertaining to the EIB operations carried out locally by appropriate means, in a timely manner and provided with relevant information and documents. Participation should: include all development, environmental and social impacts of the EIB operations; Facilitate meaningful participation at all levels. Participatory forums and structures should be established at national and local level to ensure active engagement of all relevant stakeholders notably NGOs; The result of the participation shall be taken into account by the EIB and project promoter; Mechanisms of grievance and redress shall be established and accessible during the participation process, and throughout the implementation of EIB operations.

Amendment 34 #

Proposal for a decision
Article 10 – paragraph 1

1. The Commission shall report annually to the European Parliament and the Council on EIB financing operations carried out under this Decision. The report shall include an assessment of EIB financing operations at project, sector, country and regional level as well as the contribution of the EIB financing operations to the fulfilment of the external policy and strategic objectives of the EU. The report shall in particular assess the compliance of EIB financing operations with this Decision, taking into account the operational guidelines referred to in Article 5, and shall include sections on added value for the achievement of EU policy objectives a~~s well as on cooperation with the Commission and other international financial institutions and bilateral institutions, including co-financing~~nd the extent to which to which the EIB has taken into account environmental and social sustainability in the design and monitoring of the projects financed, as well as on cooperation with the Commission and other international financial institutions and bilateral institutions, including co-financing. The report shall also contain an assessment of the EIB's human and material resources policy relating to its activities outside the EU. Finally, it shall contain a specific section devoted to a detailed evaluation of the measures taken by the EIB to comply with the provisions of Article 1(2) of this decision, excluding from the scope of the guarantee all operations which would allow, or contribute directly or indirectly to, any form of tax evasion, and paying particular attention to EIB operations using financial vehicles as defined in Annex IIa.

Amendment 35 #

Proposal for a decision
Article 10 – paragraph 1

Amendment 36 #

Proposal for a decision
Article 10 – paragraph 2

2. For the purposes of paragraph 1, the EIB shall provide the Commission with yearly reports on EIB financing operations carried out under this decision at project, sector, country and regional level and on the fulfilment of the external policy and strategic objectives of the EU, including cooperation with the Commission, other international financial institutions and bilateral institutions. Any agreement between the EIB and other IFIs or bilateral institutions relating to financial operations under this Decision should be notified to the European Parliament and the Council as part of the Commission's annual report.

Amendment 37 #

Proposal for a decision
Article 10 – paragraph 2

2. For the purposes of paragraph 1, the EIB shall provide the Commission with yearly reports on EIB financing operations carried out under this decision at project, sector, country and regional level, on the accessibility, transparency and effectiveness of the loans, and on the fulfilment of the external policy and strategic objectives of the EU, including cooperation with the Commission, other international financial institutions and bilateral institutions. The Memoranda of Understanding between the EIB and other IFIs or bilateral institutions relating to carrying out financial operations under this Decision shall be made public.

Amendment 38 #

Proposal for a decision
Article 10 – paragraph 5

5. The EIB shall make public and provide the information referred to in paragraphs 2, 3 and 4 at its own expense.

Amendment 39 #

Proposal for a decision
Article 10 – paragraph 5 – subparagraph 1 a (new)

An independent reviewing body should be established and should include government, business and non-profit organisation representatives of the countries concerned.

Amendment 40 #

Proposal for a decision
Article 10 – paragraph 5 – subparagraph 1 b (new)

Cross-border enterprises benefiting from EIB support shall publically disclose their annual accounts on a country-by-country basis, including the figures for pre- and post-tax profits.

Amendment 41 #

Proposal for a decision
Article 14 – paragraph 1

The Commission shall present to the European Parliament and the Council a final report on the application of this decision by 31 October 2014.

Amendment 42 #

Proposal for a decision
Annex II a (new)

– limited liability corporations whether limited by shares, guarantee or some other mechanism; – international companies or corporations; – international business companies or corporations; – exempt companies or corporations; – protected cell companies or corporations; – incorporated cell companies or corporations; – international banks, including corporations of similar name; – offshore banks, including corporations of similar name; – insurance companies or corporations; – reinsurance companies or corporations; – cooperatives; – credit unions; – partnerships of all forms including (without limitation) general partnerships, limited partnerships, limited liability partnerships, international partnerships and international business partnerships; – joint ventures; – trusts; – settlements; – foundations; – estates of deceased persons; – funds of all forms; – branches of any of the entities and arrangements listed here; – representative offices of any of the entities and arrangements listed here; – permanent establishments of any of the entities and arrangements listed here; – a multiform foundation, however described, if their operational headquarters is in one of the following jurisdictions or countries: – South Africa – the Former Yugoslav Republic of Macedonia – Andorra – Anguilla – Anjouan – Antigua and Barbuda – the Netherlands Antilles – Aruba – the Bahamas – Bahrain – Barbados – Belize – Bermuda – Brunei – Costa Rica – Djibouti – Dominica – Dubai – the United Arab Emirates – the State of Delaware (USA) – the State of Nevada (USA) – Fiji – Ghana – Grenada – Guam – Guatemala – Guernsey, Alderney or Sark – Hong Kong – the Isle of Man – the Cayman Islands – the Cook Islands – the Marshall Islands – the Solomon Islands – the Turks and Caicos Islands – the US Virgin Islands – the British Virgin Islands – Jersey – Kiribati – Labuan (Malaysia) – Lebanon – Liberia – Liechtenstein – Macao – the Maldives – the Northern Marianas Islands – Mauritius – Micronesia – Monaco – Montenegro – Montserrat – Nauru – Niue – New Caledonia – Palau – Panama – the Philippines – French Polynesia – Puerto Rico – Saint Kitts and Nevis – Saint Lucia – San Marino – Saint Vincent and the Grenadines – Samoa – Sao Tome e Principe – the Seychelles – Singapore – Somalia – Switzerland – Tonga – Tuvalu – Uruguay – Vanuatu. It will be the responsibility of the EIB to prove, if any of the above-listed legal forms of entities and legal arrangements are used, that they do not allow tax evasion or tax fraud.Annex IIa The legal forms of entities and legal arrangements to which the provisions of Articles 2(1) and 10(1) of this decision apply shall include the following: – limited liability companies whether limited by shares, guarantee or some other mechanism;

source: PE-450.584

2010/08/10 INTA 24 amendments...

Amendment 46 #

Proposal for a decision
Recital 1 a (new)

(1a) Article 209 TFEU, in conjunction with Article 208 TFEU, lays down that the EIB is to contribute, under the terms laid down in its Statute, to the implementation of the measures necessary to further the objectives of the Union’s development cooperation policy.

Amendment 47 #

Proposal for a decision
Recital 8

(8) In addition to the regional ceilings, the optional mandate of EUR 2 000 000 000 should be activated and allocated as an envelope to support EIB financing operations in the field of climate change mitigation and adaptation ~~across the regions covered by the mandate~~in countries and across countries covered by the mandate in implementing their climate commitment part of the UNFCCC process. The EIB could contribute with its expertise and resources, in close cooperation with the Commission, to support public authorities as well as the private sector to address the challenge of climate change and to make the best possible use of available financing. For mitigation and adaptation projects, the resources of the EIB should be complemented where possible with concessional funds available under the EU budget, through the efficient and consistent blending of grants and loans for climate change financing in the context of EU external assistance. The optional mandate will not be counted as a contribution of the EU or its Member States to the fast- start funds agreed to at the UNFCCC COP in Copenhagen in December 2009.

Amendment 48 #

Proposal for a decision
Recital 11

(11) In order to enhance the coherence of the mandate, strengthen the focus of the EIB external financing activity on supporting EU policies, and for the maximum benefit of beneficiaries, this decision should set out horizontal high- level objectives in the mandate for EIB financing operations across all eligible countries, building on the comparative strengths of the EIB in areas where it has a well-proven track record. In all regions covered by this decision, the EIB should thus finance projects in the areas of climate change mitigation and adaptation, social and economic infrastructure (notably in transport, energy including renewable energy, energy security, environmental infrastructure including water and sanitation, as well as information and communication technology (ICT)), and local private sector development, in particular in support of small and medium- sized enterprises (SMEs). It should be recalled that improving access for SMEs to capital can play an essential role in stimulating economic development and the fight against unemployment. Within these areas, regional integration among partner countries, including economic integration between pre-accession countries, neighbouring countries and the EU, should be an underlying objective for EIB financing operations. The EIB can support EU presence in partner countries through foreign direct investment that contributes to promoting technology and knowledge transfer, either for investments within the aforementioned areas, or at its own risk.

Amendment 49 #

Proposal for a decision
Recital 11

(11) In order to enhance the coherence of the mandate, strengthen the focus of the EIB external financing activity on supporting EU policies, and for the maximum benefit of beneficiaries, this decision should set out horizontal high- level objectives in the mandate for EIB financing operations across all eligible countries, building on the comparative strengths of the EIB in areas where it has a well-proven track record. In all regions covered by this decision, the EIB should thus finance projects in the areas of climate change mitigation and adaptation, social and economic infrastructure (notably in transport, energy including renewable energy, research and development (R&D) in new energy sources, energy security, environmental infrastructure including water and sanitation, as well as information and communication technology (ICT)), and local private sector development, in particular in support of small and medium- sized enterprises (SMEs) to boost sustainable economic growth and jobs creation. Within these areas, regional integration among partner countries, including economic integration between pre-accession countries, neighbouring countries and the EU, should be an underlying objective for EIB financing operations. The EIB should contribute to European foreign direct investment in partner countries, including as part of mutually beneficial public private partnerships, with the objective to promote innovation and development in the aforementioned project areas.

Amendment 50 #

Proposal for a decision
Recital 11 a (new)

(11a) In order to effectively reach out to SMEs, the EIB should cooperate with local financial intermediary institutions in the eligible countries that have a proof record of passing interest rate concessions on to their clients, to check client's projects against EU development goals and to provide an added value in comparison with market financing. The financial intermediaries activities in support of SMEs should be fully transparent and reported regularly to the EIB.

Amendment 51 #

Proposal for a decision
Recital 13

(13) Under this decision, the EIB should increase its development orientation and expertise in close coordination with the Commission and ~~follow~~applying the principles of the European Consensus on Development as well as the principles of aid effectiveness outlined in the Paris Declaration of 2005 and the Accra Agenda for Action of 2008. This should be implemented through a number of concrete measures, in particular by reinforcing its capacity to appraise social, environmental and development aspects of projects, including human rights and conflict related risks, and by promoting local consultation. Local consultations should be part of the EIB's due diligence procedure prior to the approval of projects. Moreover, it should increase its focus on sectors where it has sound expertise from financing operations within the EU and which will further the development of the country in question, such as environmental infrastructure including water and sanitation, sustainable transportation and climate change mitigation, particularly in renewable energy. The EIB should also progressively strengthen its activity in support of health and education as well as of climate change adaptation, where appropriate working in cooperation with other International Finance Institutions (IFIs) and European bilateral finance institutions (EBFIs). This will require access to concessional resources and a progressive increase in human resources devoted to EIB external activities. EIB activity should also be complementary to EU objectives and priorities relating to institution building and sector reforms. Finally, the EIB should define performance indicators which are linked to development aspects of the projects and their results.

Amendment 52 #

Proposal for a decision
Recital 15 a (new)

(15a) The EIB shall support the achievement of the 2015 Millennium Development Goals in all regions where it is active.

Amendment 53 #

Proposal for a decision
Recital 16

Amendment 54 #

Marielle de SARNEZ

Proposal for a decision
Recital 16

(16) EIB activity in Neighbourhood countries should take place in the framework of the European Neighbourhood Policy, under which the EU aims to develop a special relationship with neighbouring countries with a view to establishing an area of prosperity and good neighbourliness, founded on the values of the EU and characterised by close and peaceful relations based on co-operation. To achieve these objectives the EU and its partners implement jointly agreed bilateral Action Plans defining a set of priorities including on political and security issues, trade and economic matters, environmental and social concerns and integration of transport and energy networks. The Union for the Mediterranean, the Eastern Partnership, and the Black Sea Synergy are multilateral and regional initiatives complementary to the European Neighbourhood Policy aimed at fostering co-operation between the EU and the respective group of neighbouring partner countries facing common challenges and/or sharing a common geographical environment. The Union for the Mediterranean supports improved socio- economic development, solidarity, regional integration, sustainable development and knowledge building, underlining the need to increase financial co-operation to support regional and trans-national projects and support SMEs. The Eastern Partnership aims to create the necessary conditions to accelerate political association and further economic integration between the EU and Eastern Partner countries. The Russian Federation and the EU have a wide-ranging Strategic Partnership, distinct from the European Neighbourhood Policy and expressed through the Common Spaces and Roadmaps. This is complemented at multilateral level by the Northern Dimension which provides a framework for co-operation between the EU, Russia, Norway and Iceland.

Amendment 55 #

Marielle de SARNEZ

Proposal for a decision
Recital 18

(18) The EIB should be active in Asia both in dynamic emerging economies and in less prosperous countries. In this diverse region, the EU is deepening its strategic partnerships with China and India and negotiations are progressing on new partnership and free trade agreements with South-East Asian countries. However, these negotiations should take account of the principle of reciprocity and of the risks of dumping in the social, health and environmental areas. At the same time, development cooperation remains high on the EU's agenda with Asia; the EU development strategy for the Asian region aims at eradicating poverty by supporting broad-based sustainable economic growth, promoting a conducive environment and conditions for trade and integration within the region, enhancing governance, increasing political and social stability, and supporting the achievement of the 2015 Millennium Development Goals. Policies are being put in place jointly to address common challenges, such as climate change, sustainable development, security and stability, governance and human rights, as well as the prevention of, and response to natural and human disasters.

Amendment 56 #

Proposal for a decision
Recital 25

(25) The Commission should study the development of an "EU platform for cooperation and development" with a view to optimising the functioning of mechanisms for the blending of grants and loans in the external regions. In its reflections the Commission should consult the EIB as well as the other European multilateral and bilateral finance institutions, the European Parliament and civil society organizations. Such a platform would continue to promote mutual reliance arrangements, based on the comparative advantage of the different institutions while respecting the role and prerogatives of the EU institutions in the implementation of the EU budget and of EIB loans.

Amendment 57 #

Proposal for a decision
Article 2 - paragraph 2 a (new)

2a. EIB financing operations implemented through the Union guarantee granted to the EIB, in developing countries shall have as primary objective the reduction and, in the long term, the eradication of poverty. EIB financing operations implemented through the Union guarantee granted to the EIB within third countries other than developing countries shall be consistent with the development policy of the Union and shall be carried out within the framework of the principles and objectives of its external action.

Amendment 58 #

Proposal for a decision
Article 2 - paragraph 4

Amendment 59 #

Proposal for a decision
Article 2 - paragraph 4 a (new)

4a. In order to maximise the effect on mitigation of climate change, the EIB shall define criteria of “clean technology” which projects must fulfil in order to be eligible for funding under the Climate Change Mandate. The criteria shall be oriented in principle at energy efficiency and low emission, sustainable energy supply, excluding support for any nuclear and fossil fuel based energy supply technology.

Amendment 60 #

Proposal for a decision
Article 3 - paragraph 1 - point a

(a) Climate change ~~mitigation and adaptation, as defined in~~projects contributing to countries’ commitments under the UNFCCC and fulfilling the criteria of "clean technology", in accordance with Article 2(4).

Amendment 61 #

Proposal for a decision
Article 3 - paragraph 3

3. The EIB shall ~~progressively~~ increase its activity in social sectors, ~~such as heal~~with a view to the a~~nd education~~chievement of the Millennium Development Goals.

Amendment 62 #

Iuliu WINKLER

Proposal for a decision
Article 3 - paragraph 3

3. The EIB shall progressively increase its activity in social sectors, such as health and education; as well as in strengthening administrative capacity and efficiency of local authorities.

Amendment 63 #

Marielle de SARNEZ

Proposal for a decision
Article 3 - paragraph 3

3. The EIB shall progressively increase its activity in social sectors, such as health ~~and education~~, education and combating unemployment.

Amendment 64 #

Proposal for a decision
Article 5 - paragraph 2

2. The consistency of EIB financing operations with the external policy objectives of the EU shall be monitored in accordance with Article 10. The EIB shall develop performance indicators regarding development, environmental and human rights aspects of projects funded as well as with regard to the indicators under the Paris Declaration for Aid Effectiveness, in order to facilitate the monitoring.

Amendment 65 #

Proposal for a decision
Article 6 - paragraph 1

1. The EIB shall carry out thorough due diligence, including local public consultation, on development-related aspects of projects covered by the EU guarantee prior to project approval, including in an appropriate form the loan activity of financial intermediaries. The EIB's own rules and procedures shall include the necessary provisions on assessment of environmental and social impact of projects and of aspects related to human rights, to ensure that only projects that are economically, financially, environmentally and socially sustainable are supported under this Decision.

Amendment 66 #

Proposal for a decision
Article 6 - paragraph 2

2. In addition to the ex-ante assessment of development-related aspects, the EIB should ~~strengthen its~~carry out a thorough monitoring during project implementation, inter alia, on the development ~~impact of the project~~, environmental and human rights impact of the project. The monitoring shall include the performance of financial intermediaries. The results of monitoring should be regularly disclosed to the public.

Amendment 67 #

Proposal for a decision
Article 8a (new)

Article 8a Public Participation and Disclosure of Information 1. The EIB, together with the project promoter, shall take an active part in the organization of public consultation on development, environmental and social aspects of the project. The EIB shall identify the public affected in the project financed by the EIB. The EIB shall ensure that the local population is informed about all key issues pertaining to the EIB operations carried out in a timely manner. Appropriate mechanisms of grievance shall be established and accessible throughout the implementation of EIB operations. 2. The EIB shall make documents relating to projects for which the EIB benefits from the EU guarantee directly accessible to the public in electronic form or through a register in accordance with its rules. The information to be made available and disseminated shall be updated as appropriate and shall include: - Description/summary of the project - Projects appraisal reports (assessment on environmental, social, human rights and development impacts of the project) - Covenants and conditions on environmental, development and human rights related aspects of the projects - Monitoring reports on development, environmental and social related aspects of the projects Ex-post evaluation reports on the contribution of the projects to economic development, poverty eradication, protection of the environment and strengthening of human rights.

Amendment 68 #

Proposal for a decision
Article 10 - paragraph 2

2. For the purposes of paragraph 1, the EIB shall provide the Commission with yearly reports on EIB financing operations carried out under this decision at project, sector, country and regional level and on the fulfilment of the external policy and strategic objectives of the EU, including cooperation with the Commission, other international financial institutions and bilateral institutions. Any agreement between the EIB and other IFIs or bilateral institutions related to financial operations under this Decision should be notified to the European Parliament and the Council as part of the Commission's annual reporting referred to in Article 10 of this Decision.

Amendment 69 #

Proposal for a decision
Article 14

The Commission shall present to the European Parliament and the Council a final report on the application of this decision by 31 October 2014.

source: PE-450.645

2010/10/15 AFET 61 amendments...

Amendment 40 #

Proposal for a decision
Recital 1

(1) In addition to its core mission of financing investment in the European Union, the European Investment Bank (EIB) has since 1963 undertaken financing operations outside the European Union in support of the EU's external policies. This allows the EU budget funds available to the external regions to be complemented by the financial strength of the EIB for the benefit of beneficiary countries and with a view to achieving the EU external policy objectives. Therefore, the EIB should clearly link its financing instruments with the EU objectives.

Amendment 41 #

Proposal for a decision
Recital 7

(7) The amounts covered by the EU guarantee in each region should ~~continue to~~not represent ceilings for financing by the EIB under the EU guarantee ~~and not~~or targets that the EIB is requested to meet.

Amendment 42 #

Proposal for a decision
Recital 8

(8) In addition to the regional ceilings, the optional mandate of EUR 2 000 000 000 should be activated and allocated as an envelope to support EIB financing operations in the field of climate change mitigation and adaptation across the regions covered by the mandate. The EIB could contribute with its expertise and resources, in close cooperation with the Commission, to support public authorities as well as the private sector to address the challenge of climate change and to make the best possible use of available financing. For mitigation and adaptation projects, the resources of the EIB should be complemented where possible with concessional funds available under the EU budget, through the efficient and consistent blending of grants and loans for climate change financing in the context of EU external assistance.deleted

Amendment 43 #

Proposal for a decision
Recital 8

(8) In addition to the regional ceilings, the optional mandate of EUR 2 000 000 000 should be activated and allocated as an envelope to support EIB financing operations in the field of climate change mitigation ~~and adaptation~~ across the regions covered by the mandate. The EIB could contribute with its expertise and resources, in close cooperation with the Commission, to support public authorities as well as the private sector to address the challenge of climate change and to make the best possible use of available financing. For mitigation ~~and adaptation~~ projects, the resources of the EIB should be complemented where possible with concessional funds available under the EU budget, through the efficient and consistent blending of grants and loans for climate change financing in the context of EU external assistance.

Amendment 44 #

Proposal for a decision
Recital 8

(8) In addition to the regional ceilings, the optional mandate of EUR 2 000 000 000 should be activated and allocated as an envelope to support EIB financing operations in the field of climate change mitigation and adaptation ~~across the region~~in and across countries covered by the mandate in implementing their climate change commitment in the framework of the United Nations Framework Convention on Climate Change (UNFCCC) process. The EIB could contribute with its expertise and resources, in close cooperation with the Commission, to support public authorities as well as the private sector to address the challenge of climate change and to make the best possible use of available financing. For mitigation and adaptation projects, the resources of the EIB should be complemented where possible with concessional funds available under the EU budget, through the efficient and consistent blending of grants and loans for climate change financing in the context of EU external assistance. The optional mandate should not be counted as a contribution of the EU or its Member States to the 'fast-start' funds agreed to at the UNFCCC Conference of the Parties (COP) in Copenhagen in December 2009.

Amendment 45 #

Proposal for a decision
Recital 9

(9) Some flexibility on regional allocation under the Climate Change Mandate should be provided to allow for the fastest and most effective possible uptake of available financing within the 3-year period 2011-2013. In the event that the total amount of financing operations under consideration would exceed the available EUR 2 billion, the Commission and the EIB should strive to ensure a balanced distribution across the regions covered, based on the established priorities for external aid under the General Mandate.deleted

Amendment 46 #

Proposal for a decision
Recital 9

(9) SGiven that combating climate change has become a priority, some flexibility on regional allocation under the Climate Change Mandate should be provided to allow for the fastest and most effective possible uptake of available financing within the 3-year period 2011- 2013. In the event that the total amount of financing operations under consideration would exceed the available EUR 2 billion, the Commission and the EIB should strive to ensure a balanced distribution across the regions covered, based on the established priorities for external aid under the General Mandate.

Amendment 47 #

Proposal for a decision
Recital 9

(9) Some flexibility on regional allocation under the Climate Change Mitigation Mandate should be provided to allow for the fastest and most effective possible uptake of available financing within the 3- year period 2011- 2013. In the event that the total amount of financing operations under consideration would exceed the available EUR 2 billion, the Commission and the EIB should strive to ensure a balanced distribution across the regions covered, based on the established priorities for external aid under the General Mandate.

Amendment 48 #

Proposal for a decision
Recital 11

(11) In order to enhance the coherence of the mandate, strengthen the focus of the EIB external financing activity on supporting EU policies, and for the maximum benefit of beneficiaries, this decision should set out horizontal high- level objectives in the mandate for EIB financing operations across all eligible countries, building on the comparative strengths of the EIB in areas where it has a well-proven track record. In all regions covered by this decision, the EIB should thus finance projects in the areas of ~~climate change mitigation and adaptation,~~ social and economic infrastructure (notably in transport, energy including renewable energy, energy security, environmental infrastructure including water and sanitation, as well as information and communication technology (ICT)), and local private sector development, in particular in support of small and medium- sized enterprises (SMEs). Within these areas, regional integration among partner countries, including economic integration between pre-accession countries, neighbouring countries and the EU, should be an underlying objective for EIB financing operations.

Amendment 49 #

Proposal for a decision
Recital 11

(11) In order to enhance the coherence of the mandate, strengthen the focus of the EIB external financing activity on supporting EU policies, and for the maximum benefit of beneficiaries, this decision should set out horizontal high- level objectives in the mandate for EIB financing operations across all eligible countries, building on the comparative strengths of the EIB in areas where it has a well-proven track record. In all regions covered by this decision, the EIB should thus, if and when required, finance projects in the areas of climate change mitigation and adaptation, social and economic infrastructure (notably in transport, energy including renewable energy, energy security, environmental infrastructure including water and sanitation, as well as information and communication technology (ICT)), and local private sector development, in particular in support of small and medium- sized enterprises (SMEs). Within these areas, regional integration among partner countries, including economic integration between pre-accession countries, neighbouring countries and the EU, should be an underlying objective for EIB financing operations.

Amendment 50 #

Proposal for a decision
Recital 13

(13) Under this decision, the EIB should increase its development orientation in close coordination with the Commission and following the principles of the European Consensus on Development. This should be implemented through a number of concrete measures, in particular by reinforcing its capacity to appraise social and development aspects of projects, including human rights and conflict related risks, and by promoting local consultation. Moreover, it should increase its focus on sectors where it has sound expertise from financing operations within the EU and which will further the development of the country in question, such as environmental infrastructure including water and sanitation, and sustainable transportation ~~and climate change mitigation~~, particularly in renewable energy. The EIB should also progressively strengthen its activity in support of health and education ~~as well as of climate change adaptation~~, where appropriate working in cooperation with other International Finance Institutions (IFIs) and European bilateral finance institutions (EBFIs). This will require access to concessional resources and a progressive increase in human resources devoted to EIB external activities. EIB activity should also be complementary to EU objectives and priorities relating to institution building and sector reforms. Finally, the EIB should define performance indicators which are linked to development aspects of the projects and their results.

Amendment 51 #

Proposal for a decision
Recital 13

(13) Under this decision, the EIB should increase its development orientation in close coordination with the Commission and following the principles of the European Consensus on Development. This should be implemented through a number of concrete measures, in particular by reinforcing its capacity to appraise social and development aspects of projects, including human rights and conflict related risks, and by promoting local consultation. Moreover, it should increase its focus on sectors where it has sound expertise from financing operations within the EU and which will further the development of the country in question, such as environmental infrastructure including water and sanitation, sustainable transportation and climate change mitigation, particularly in renewable energy. The EIB should also progressively strengthen its activity in support of health and education ~~as well as of climate change adaptation~~, where appropriate working in cooperation with other International Finance Institutions (IFIs) and European bilateral finance institutions (EBFIs). This will require access to concessional resources and a progressive increase in human resources devoted to EIB external activities. EIB activity should also be complementary to EU objectives and priorities relating to institution building and sector reforms. Finally, the EIB should define performance indicators which are linked to development aspects of the projects and their results.

Amendment 52 #

Jacek PROTASIEWICZ, Heidi HAUTALA

Proposal for a decision
Recital 16

(16) EIB activity in Neighbourhood countries should take place in the framework of the European Neighbourhood Policy, under which the EU aims to develop a special relationship with neighbouring countries with a view to establishing an area of prosperity and good neighbourliness, founded on the values of the EU, such as democracy, the rule of law, good governance and respect for human rights, and characterised by close and peaceful relations based on co- operation. To achieve these objectives the EU and its partners implement jointly agreed bilateral Action Plans defining a set of priorities including on political and security issues, trade and economic matters, environmental concerns and integration of transport and energy networks. The Union for the Mediterranean, the Eastern Partnership, and the Black Sea Synergy are multilateral and regional initiatives complementary to the European Neighbourhood Policy aimed at fostering co-operation between the EU and the respective group of neighbouring partner countries facing common challenges and/or sharing a common geographical environment. The Union for the Mediterranean supports improved socio-economic, solidarity, regional integration, sustainable development and knowledge building, underlining the need to increase financial co-operation to support regional and trans-national projects. The Eastern Partnership aims to create the necessary conditions to accelerate political association and further economic integration between the EU and Eastern Partner countries. The Russian Federation and the EU have a wide-ranging Strategic Partnership, distinct from the European Neighbourhood Policy and expressed through the Common Spaces and Roadmaps. This is complemented at multilateral level by the Northern Dimension which provides a framework for co-operation between the EU, Russia, Norway and Iceland.

Amendment 53 #

Proposal for a decision
Recital 16

(16) EIB activity in Neighbourhood countries should take place in the framework of the European Neighbourhood Policy, under which the EU aims to develop a special relationship with neighbouring countries with a view to establishing an area of prosperity and good neighbourliness, founded on the values of the EU and characterised by close and peaceful relations based on co-operation. To achieve these objectives the EU and its partners implement jointly agreed bilateral Action Plans defining a set of priorities including on political and security issues, trade and economic matters, environmental concerns and integration of transport and energy networks. The Union for the Mediterranean, the Eastern Partnership, and the Black Sea Synergy are multilateral and regional initiatives complementary to the European Neighbourhood Policy aimed at fostering co-operation between the EU and the respective group of neighbouring partner countries facing common challenges and/or sharing a common geographical environment. The Union for the Mediterranean supports improved socio-economic, solidarity, regional integration, sustainable development and knowledge building, underlining the need to increase financial co-operation to support regional and trans-national projects. The Eastern Partnership aims to create the necessary conditions to accelerate political association and further economic integration between the EU and Eastern Partner countries, which cannot be achieved unless all Eastern Partnership countries adhere to the principles of democracy, the rule of law and the respect for human rights. Therefore, the scope of the EIB's engagement with these countries should depend on their progress in those areas. The Russian Federation and the EU have a wide-ranging Strategic Partnership, distinct from the European Neighbourhood Policy and expressed through the Common Spaces and Roadmaps. This is complemented at multilateral level by the Northern Dimension which provides a framework for co-operation between the EU, Russia, Norway and Iceland.

Amendment 54 #

Proposal for a decision
Recital 16 a (new)

(16a) The EIB should increase its support for the EU objective of increasing the security of the energy supply by increasing the guarantees to and the financing of the Southern Caucasus and Central Asia regions.

Amendment 55 #

Proposal for a decision
Recital 17

(17) EIB activity in Latin America should take place in the framework of the EU, Latin America and the Caribbean Strategic Partnership. As highlighted in the September 2009 Commission Communication "The European Union and Latin America: Global Players in Partnership", the EU priorities in the field of cooperation towards Latin America are the promotion of regional integration and the eradication of poverty and social inequality in order to promote sustainable economic and social development. These policy objectives should be fostered taking into account the different level of development of Latin America countries. Bilateral dialogue should be pursued in areas of common interest for the EU and Latin America, including environment, ~~climate change,~~ disaster risk reduction and energy, science, research, higher education, technology and innovation.

Amendment 56 #

Proposal for a decision
Recital 18

(18) The EIB should be active in Asia both in dynamic emerging economies and in less prosperous countries. In this diverse region, the EU is deepening its strategic partnerships with China and India and negotiations are progressing on new partnership and free trade agreements with South-East Asian countries. At the same time, development cooperation remains high on the EU's agenda with Asia; the EU development strategy for the Asian region aims at eradicating poverty by supporting broad-based sustainable economic growth, promoting a conducive environment and conditions for trade and integration within the region, enhancing governance, increasing political and social stability, and supporting the achievement of the 2015 Millennium Development Goals. Policies are being put in place jointly to address common challenges, such as ~~climate change,~~ sustainable development, security and stability, governance and human rights, as well as the prevention of, and response to natural and human disasters.

Amendment 57 #

Proposal for a decision
Recital 20

(20) EIB activity in South Africa should take place in the framework of the EU- South Africa Country Strategy Paper. The focal areas identified in the Strategy Paper are employment creation and capacity development for service delivery and social cohesion. EIB activities in South Africa have taken place in high complementarity with the Commission's development cooperation programme, namely through the EIB focus on private sector support and investments in expansion of infrastructure and social services (housing, electric power and municipal infrastructure). ~~The Mid- Term Review of the Country Strategy Paper for South Africa has proposed the strengthening of actions in the area of climate change through activities supporting the creation of green jobs.~~

Amendment 58 #

Dominique BAUDIS, Dominique VLASTO

Proposal for a decision
Recital 20

(20) EIB activity in South Africa should take place in the framework of the EU- South Africa Country Strategy Paper. The focal areas identified in the Strategy Paper are employment creation and capacity development for service delivery and social cohesion. EIB activities in South Africa have taken place in high complementarity with the Commission's development cooperation programme, namely through the EIB focus on private sector support and investments in expansion of infrastructure and social services (housing, electric power, drinking water purification projects and municipal infrastructure). The Mid- Term Review of the Country Strategy Paper for South Africa has proposed the strengthening of actions in the area of climate change through activities supporting the creation of green jobs.

Amendment 59 #

Proposal for a decision
Recital 21

(21) With a view to enhancing the coherence of overall EU support in the regions concerned, opportunities should be sought to combine EIB financing with EU budgetary resources when and as appropriate, in the form e.g. of guarantees, risk capital and interest rate subsidies, investment co-financing, alongside technical assistance for project preparation and implementation, through the IPA, the ENPI, the Instrument for Stability, the EIDHR and the DCI. Greater integration of these financing instruments should be included in the guidelines for the renewal of the EIB’s external mandate for the period 2014-2020.

Amendment 60 #

Dominique BAUDIS, Dominique VLASTO

Proposal for a decision
Recital 23

(23) The practical measures for linking the general mandate objectives and their implementation will be set out in regional operational guidelines developed by the Commission together with the EIB, in co~~nsult~~llaboration with the EEAS on policy issues, as appropriate. These guidelines should take as a starting point the wider EU policy framework for each region, reflect EU country strategies and aim to ensure that EIB financing is complementary to corresponding EU assistance policies, programmes and instruments in the different regions. The guidelines should be provided to the European Parliament and Council in the framework of the annual reporting exercise on the EIB external mandate of the Commission.

Amendment 61 #

Proposal for a decision
Recital 25 a (new)

(25a) The EIB should gradually be encouraged to divide up all its external activities on a geographic basis so as to better adapt to the specific requirements of each area and promote the participation of partner countries. The EIB should begin this process by immediately splitting up its Mediterranean activities, which until now have been grouped together in the Facility for Euro-Mediterranean Investment and Partnership (FEMIP), and creating a Euro-Mediterranean Co-Development Financial Institution, of which the EIB would remain the main shareholder. In the specific case of the Mediterranean, this institutional change would allow the EIB to improve the effectiveness of its action in the Mediterranean countries, boost its visibility and provide increased financial support for the EU's priority initiatives for the Mediterranean. Partner countries' participation in the capital of this financial institution would lead to shared responsibility between the EU and its partners in the management of funds and of structural development projects which receive funding.

Amendment 62 #

Dominique BAUDIS, Dominique VLASTO

Proposal for a decision
Recital 27 a (new)

(27a) The EIB should be more rigorous and more transparent in choosing its financial partners. It should, in particular, guarantee that in the context of its financial operations covered by the EU guarantee, the financial vehicles which it or its partners use cannot under any circumstances contribute to any form of tax evasion. The EIB should also, as far as possible, increase the diversification of its financial partners in the countries in which it operates and encourage the development of public- private partnerships and the increased involvement of civil society. The EIB should build on existing networks that encourage the pooling of resources and funding and networking among stakeholders in civil society and the world of business, such as the Invest in Med programme, which possesses real expertise in this field and has links in the partner countries.

Amendment 63 #

Proposal for a decision
Recital 29

(29) In its financing operations outside the EU that fall within the scope of this decision, the EIB should endeavour to further enhance coordination and cooperation with IFIs and EBFIs where relevant, including, where appropriate, cooperation on sector conditionality and mutual reliance on procedures, use of joint co-financing and participation in global initiatives, such as those promoting aid coordination and effectiveness. The above efforts are to be based on reciprocity between EIB and other institutions and require an equivalent effort by the EIB and other financial institutions to be implemented effectively. In particular, the modalities for the implementation of EIB financing in the Eastern Neighbourhood and Partnership countries, Central Asia and Turkey are set out in tripartite Memoranda of Understanding between the Commission, the EIB and the European Bank for Reconstruction and Development (EBRD). In line with the EIB's increasing role in furthering EU development objectives, the Commission and the EEAS should present a joint feasibility study on a possible merger of EIB and EBRD. Such study should be presented by the end of 2011.

Amendment 64 #

Proposal for a decision
Recital 31 a (new)

(31a) The EIB shall update its policy on offshore financial centres and go beyond the existing level playing field of OECD lists and, by developing a more stringent definition, take account of all jurisdictions that might allow tax avoidance or evasion. In cases where support is granted to financial intermediaries, the EIB should also ensure that all supported banks and other financial intermediaries have stringent safeguards in place against the use of secrecy jurisdictions. This should include the disclosure of the beneficial ownership of financial assets. EIB-supported companies and financial intermediaries should present their annual accounts on a country-by-country basis, in order to identify where they make profits and therefore where taxes should be paid. Companies and financial intermediaries should disclose reliable annual information related to (a) The name of each country in which it operates; (b) The names of all of its subsidiary companies trading in each country in which it operates; (c) Its financial performance in every country in which it operates, without exception, including: (i) Its sales, both with third parties and with other groups in the same company; (ii) Purchases, split between third parties and intra-group transactions; (iii) Labour costs and employee numbers; (iv) Financing costs split between those paid to third parties and those paid to other groups in the same company; (v) Its pre- tax profit; (d) The tax charge included in its accounts for the country in question; (e) Details of the cost and net book value of its physical fixed assets located in each country; (f) Details of its gross and net assets in total for each country in which operates.

Amendment 65 #

Proposal for a decision
Article 2 – paragraph 1 – point b

~~(b) a Climate Change Mandate of EUR 2 000 000 000~~deleted

Amendment 66 #

Proposal for a decision
Article 2 – paragraph 1 – point b

(b) a Climate Change Mitigation Mandate of EUR 2 000 000 000

Amendment 67 #

Proposal for a decision
Article 2 – paragraph 2

2. The General Mandate shall be broken down into bindingcative regional ceilings and indicative sub-ceilings as laid down in Annex I. Within the regional ceilings, the EIB shall progressively ensure a balanced ~~country~~ distribution within the regions covered by the General Mandate, based on EU objectives and EU external policy objectives.

Amendment 68 #

Proposal for a decision
Article 2 – paragraph 4

Amendment 69 #

Proposal for a decision
Article 2 – paragraph 4

4. The Climate Change Mitigation Mandate shall cover EIB financing operations in all countries covered by this decision, where such EIB financing operations support the key EU policy objective of tackling climate change by supporting projects in climate change mitigation and adaptation which contribute to the overall objective of the United Nations Framework Convention on Climate Change (UNFCCC), in particular by avoiding or reducing greenhouse gas emissions in the areas of renewable energy, energy efficiency and sustainable transport, or by increasing resilience to the adverse impacts of climate change on vulnerable countries, sectors and communities. The Climate Change Mitigation Mandate shall be implemented in close cooperation with the Commission, combining where possible and appropriate EIB financing with EU budget funds.

Amendment 70 #

Proposal for a decision
Article 2 – paragraph 4

Amendment 71 #

Proposal for a decision
Article 2 – paragraph 5

5. For the Climate Change Mandate, the EIB shall nevertheless endeavour to ensure a balanced distribution of financing operations signed across the regions covered by Annex II of this decision, by the end of the period referred to in Article 1(4). In particular, the EIB will ensure that the region referred to under point A of Annex II does not receive more than 40% of the amount allocated to this Mandate, the region under point B not more than 50%, the region under point C not more than 30% and the region under point D not more than 10%.deleted

Amendment 72 #

Proposal for a decision
Article 2 – paragraph 5

5. For the Climate Change Mitigation Mandate, the EIB shall nevertheless endeavour to ensure a balanced distribution of financing operations signed across the regions covered by Annex II of this decision, by the end of the period referred to in Article 1(4). In particular, the EIB will ensure that the region referred to under point A of Annex II does not receive more than 420% of the amount allocated to this Mandate, the region under point B not more than 530%, the region under point C not more than 340% and the region under point D not more than 10%.

Amendment 73 #

Proposal for a decision
Article 3 – paragraph 1 – point a

~~(a) Climate change mitigation and adaptation, as defined in Article 2(4).~~deleted

Amendment 74 #

Proposal for a decision
Article 3 – paragraph 1 – point a a (new)

Amendment 75 #

Proposal for a decision
Article 5 – paragraph 1

1. The Commission shall develop, together with the EIB, regional operational guidelines for EIB financing under this decision. ~~In drawing up t~~These guidelines ~~the Commission and the EIB will consult~~shall be prepared together with the European External Action Service (EEAS) ~~on policy issues~~, as appropriate. The operational guidelines aim to ensure that EIB financing supports EU policies, and shall take as a starting point the wider EU regional policy framework set by the Commission and the EEAS, as appropriate. Notably, the operational guidelines will ensure that EIB financing is complementary to corresponding EU assistance policies, programmes and instruments in the different regions, ~~taking into account~~in line with European Parliament resolutions and Council decisions and conclusions. The Commission will inform the European Parliament and the Council of the guidelines established. Within the framework set out by the operational guidelines, the EIB shall define corresponding financing strategies and ensure their implementation.

Amendment 76 #

Proposal for a decision
Article 5 – paragraph 1

1. The Commission shall develop, together with the EIB, regional operational guidelines for EIB financing under this decision. In drawing up these guidelines the Commission and the EIB will consult with the European External Action Service (EEAS) on policy issues, as appropriate. The operational guidelines aim to ensure that EIB financing supports EU policies, and shall take as a starting point the wider EU regional policy framework set by the Commission and the EEAS, as appropriate. Notably, the operational guidelines will ensure that EIB financing is complementary to corresponding EU assistance policies, programmes and instruments in the different regions, taking into account European Parliament resolutions and Council decisions and conclusions. The Commission will inform the European Parliament and the Council in advance of the guidelines that are being established. Within the framework set out by the operational guidelines, the EIB shall define corresponding financing strategies and ensure their implementation.

Amendment 77 #

Proposal for a decision
Article 5 – paragraph 3

3. An EIB financing operation shall be conditional upon the Commission providing an opinion in accordance with the procedure set out in Article 19 of the Statute of the EIB. The Commission’s opinion on a financing operation shall be based on the outcome of an integrated environmental, human rights and conflict assessment within the Commission, drawing on evidence available to the relevant Commission DGs, EEAS geographic desks and EU delegations as well as from civil society sources and stakeholder consultations. An EIB financing operation shall not be included under the cover of the EU guarantee in the event that the Commission delivers a negative opinion on such an operation within the framework of the procedure provided for in Article 19 of the Statute ~~of the EIB~~.

Amendment 78 #

Proposal for a decision
Article 5 – paragraph 3 a (new)

3a. The nature of the information that the EIB is providing to the Commission for the purpose of assessing a project application and the procedure by which the Commission manages the input of all of its relevant DGs as well as the geographical DGs within the EEAS and Delegations in the process of deciding on the approval of a lending project shall be made public. The European Commission shall publish its opinion for every project it approves.

Amendment 79 #

Proposal for a decision
Article 6 – paragraph 1 – subparagraph 1

The EIB shall carry out thorough due diligence onwith regard to the impact on human rights, the environment and conflicts and on the development-related aspects of projects covered by the EU guarantee. The EIB'’s own rules and procedures shall include the necessary provisions on assessment of environmental and social impact of projects and of aspects related to human rights, to ensure that only projects that are wholly economically, financially, environmentally and socially sustainable and do not exacerbate actual or latent conflicts are supported under this Decision.

Amendment 80 #

Proposal for a decision
Article 6 – paragraph 2

2. In addition to the ex-ante assessment of ~~development-related aspects, the EIB should strengthen its monitoring during project implementation, inter alia, on the development impact of the project~~projects in the light of their impact on human rights, conflict dynamics, environmental and social indicators and development-related aspects, the EIB should strengthen its monitoring capacity throughout the whole project cycle in relation to these issues and the performance of financial intermediaries during project implementation, inter alia, on the development impact of the project. Where information is received that suggests a deterioration of the project’s impact on any of these aspects, the EIB should be obliged to halt an operation until the situation is addressed.

Amendment 81 #

Proposal for a decision
Article 7 – paragraph 1 – introductory part

1. The consistency of EIB external actions with the external policy objectives of the EU shall be strengthened, with a view to maximising synergies between EIB financing and EU budgetary resources, in particular through the establishment of the operational guidelines referred to in Article 5, of which the European Parliament shall be informed in advance, as well as through regular and systematic dialogue and early exchange of information on:

Amendment 82 #

Proposal for a decision
Article 7 a (new)

The European Commission and the EEAS shall present a joint study on possible synergies and efficiency gains that could be achieved by a merger of EIB and EBRD. This study shall be presented by the end of 2011.

Amendment 83 #

Proposal for a decision
Article 8 – paragraph 2

2. The cooperation referred to in paragraph 1 shall be facilitated by coordination, carried out notably in the context of Memoranda of Understanding or other EU regional cooperation frameworks, where appropriate, between the Commission, the EEAS, the EIB and the main international financial institutions and European bilateral finance institutions operating in the different regions.

Amendment 84 #

Proposal for a decision
Article 8 a (new)

Article 8a Public Participation and Disclosure of Information 1. The EIB, together with the project promoter, shall take an active part in the organisation of public consultation on the development, environmental and social aspects of the project. The EIB shall identify the public affected by the project financed by the EIB. The EIB shall ensure that the public is informed in a timely manner about all key issues pertaining to the EIB operations carried out. Appropriate legal remedies shall be established and shall be accessible throughout the implementation of EIB operations. 2. The EIB shall make documents relating to projects in respect of which the EIB benefits from the EU guarantee directly accessible to the public in electronic form or through a register in accordance with its rules. The information to be made available and disseminated shall be updated as appropriate and shall include: - Description/summary of the project - Project appraisal reports (assessment of the environmental-, social-, human rights- and development-impacts of the project) - Covenants and conditions on the environmental-, development- and human rights-related aspects of the projects - Monitoring reports on the development-, environmental- and social-related aspects of the projects - Ex-post evaluation reports on the contribution of the projects to economic development, poverty eradication, the protection of the environment and the strengthening of human rights.

Amendment 85 #

Proposal for a decision
Article 9 – paragraph 2

2. For the purposes of paragraph 1, the West Bank and Gaza Strip is represented by the Palestinian Authority and Kosovo under United Nations Security Council Resolution 1244 (1999) by the United Nations Mission in Kosovo, or ~~an administration designated in the guidelines referred to under Article 5 of this Decision~~the Government of the Republic of Kosovo.

Amendment 86 #

Proposal for a decision
Article 9 – paragraph 2

2. For the purposes of paragraph 1, the West Bank and Gaza Strip is represented by the Palestinian Authority and Kosovo under United Nations Security Council Resolution 1244 (1999) by the United Nations Mission in Kosovo ~~or an administration designated in the guidelines referred to under Article 5 of this Decision~~.

Amendment 87 #

Proposal for a decision
Article 10 – paragraph 1

Amendment 88 #

Proposal for a decision
Article 10 – paragraph 5 a (new)

5a. The EIB shall include in its annual report a follow-up assessment of the functioning of the Memorandum of Understanding with the European Ombudsman.

Amendment 89 #

Proposal for a decision
Article 10 a (new)

Article 10a An independent reviewing body should be established and should include representatives of the government, business and non-profit organisations of the countries concerned.

Amendment 90 #

Proposal for a decision
Article 12 – paragraph 1

The EIB and the Commission shall enter into a guarantee agreement laying down the detailed provisions and procedures relating to the EU guarantee and shall inform the European Parliament thereof.

Amendment 91 #

Proposal for a decision
Article 14 – paragraph 1

The Commission shall present a final report on the application of this decision by 31 ~~Octo~~December 20143.

Amendment 92 #

Proposal for a decision
Annex I – point B – introductory part

B. Neighbourhood and Partnership Countries: EUR 12 4900 000 000;

Amendment 93 #

Proposal for a decision
Annex I – point B – point ii

(ii) Eastern Europe, Southern Caucasus and Russia: EUR 34 700 000 000;

Amendment 94 #

Proposal for a decision
Annex I – point C – point ii

(ii) Asia (including Central Asia): EUR 1 0500 000 000;

Amendment 95 #

Proposal for a decision
Annex I – point D – introductory part

D. Republic of South Africa: EUR 9400 000 000.

Amendment 96 #

Vincent PEILLON

Proposal for a decision
Annex II – point A – paragraph 1 – subparagraph 1

Croatia, Turkey, the former Yugoslav Republic of Macedonia, Iceland.

Amendment 97 #

Vincent PEILLON

Proposal for a decision
Annex II – point A – paragraph 2 – subparagraph 1

Albania, Bosnia and Herzegovina, Montenegro, Serbia, Kosovo under United Nations Security Council Resolution 1244 (1999)~~, Iceland~~.

Amendment 98 #

Proposal for a decision
Annex II – point B – paragraph 1 – subparagraph 1

Algeria, Egypt, the West Bank and the Gaza Strip, Israel, Jordan, Lebanon, Libya (*), Morocco, Syria, Tunisia.

Amendment 99 #

Proposal for a decision
Annex II – point B – paragraph 2 – subparagraph 1

Eastern Europe: Republic of Moldova, Ukraine, Belarus (*);

Amendment 100 #

Proposal for a decision
Annex II – point C – paragraph 2 – subparagraph 1

Asia (excluding Central Asia): Afghanistan (*), Bangladesh, Bhutan (*), Brunei, Cambodia (*), China (including Hong Kong and Macao Special Administrative Regions), India, Indonesia, Iraq, South Korea, Laos, Malaysia, Maldives, Mongolia, Nepal, Pakistan, the Philippines, Singapore, Sri Lanka, Taiwan (*), Thailand, Vietnam, Yemen (*).

source: PE-450.578

2010/10/27 DEVE 19 amendments...

Amendment 13 #

Proposal for a decision
Recital 8

(8) In addition to the regional ceilings, the optional mandate of EUR 2 000 000 000 should be activated and allocated as an envelope to support EIB financing operations in the field of climate change mitigation and adaptation ~~across the region~~in countries covered by the mandate when implementing their climate commitments under the UN Framework Convention on Climate Change (UNFCCC). The EIB could contribute with its expertise and resources, in close cooperation with the Commission, to support public authorities as well as the private sector to address the challenge of climate change and to make the best possible use of available financing. For mitigation and adaptation projects, the resources of the EIB should be complemented where possible with concessional funds available under the EU budget, through the efficient and consistent blending of grants and loans for climate change financing in the context of EU external assistance. The optional mandate should not be counted as a contribution by the EU or its Member States to the fast- start funds agreed to at the UNFCCC COP in Copenhagen in December 2009.

Amendment 14 #

Proposal for a decision
Recital 8 a (new)

(8a) EIB financing operations in developing countries should be consistent with the EU's commitment and obligations under the UN Framework Convention on Climate Change (UNFCCC). The EIB should accordingly draw up adequate criteria for what it counts as "clean technology", phase out fossil fuel projects and prohibit the financing of operations whose negative impacts have been denounced by international institutions such as the United Nations Environment Programme or the International Union for the Conservation of Nature.

Amendment 15 #

Proposal for a decision
Recital 11

(11) In order to enhance the coherence of the mandate, strengthen the focus of the EIB external financing activity on supporting EU policies, and for the maximum benefit of beneficiaries, this decision should set out horizontal high- level objectives in the mandate for EIB financing operations across all eligible countries, building on the comparative strengths of the EIB in areas where it has a well-proven track record. In all regions covered by this decision, the EIB should thus finance projects to develop the local private sector, in particular in support of small and medium-sized enterprises (SMEs), and projects in the areas of climate change mitigation and adaptation, social and economic infrastructure (notably in transport, energy including renewable energy, energy security, environmental infrastructure including water and sanitation, as well as information and communication technology (ICT))~~, and local private sector development, in particular in support of small and medium-sized enterprises (SMEs)~~. Within these areas, regional integration among partner countries, including economic integration between pre-accession countries, neighbouring countries and the EU, should be an underlying objective for EIB financing operations.

Amendment 16 #

Corina CREŢU

Proposal for a decision
Recital 12

(12) More~~over~~ generally, EIB financing operations should contribute to the general principles guiding the EU's external action, as referred to in Article 21 of the Treaty on the European Union, of promoting and consolidating democracy and the rule of law, human rights and fundamental freedoms, and to the implementation of international environmental agreements to which the EU is a party. In relation to developing countries9 in particular, an underlying objective for EIB financing operations should be the reduction of poverty through fostering: sustainable economic, social and environmental development of these countries, particularly in the most disadvantaged amongst them; their smooth and gradual integration into the world economy; ~~the campaign against poverty;~~ as well as compliance with objectives approved by the EU in the context of the United Nations and other competent international organisations. The EIB should gradually build up appropriate means ~~to adequately meet these requirements~~in order to guarantee equal access to financial services, in particular for disadvantaged groups such as minorities, farmers and women. In order to adequately meet these requirements the Council shall guarantee an increase in EIB resources and staff.

Amendment 17 #

Proposal for a decision
Recital 12

(12) More~~over~~ generally, EIB financing operations should contribute to the general principles guiding the EU's external action, as referred to in Article 21 of the Treaty on the European Union, of promoting and consolidating democracy and the rule of law, human rights and fundamental freedoms, and to the implementation of international environmental agreements to which the EU is a party. In relation to developing countries in particular, ~~EIB financing operations should~~the underlying objective of the EIB financing operations should be the reduction of poverty through fostering: sustainable economic, social and environmental development of these countries, particularly in the most disadvantaged amongst them; their smooth and gradual integration into the world economy; the campaign against poverty; as well as compliance with objectives approved by the EU in the context of the United Nations and other competent international organisations. TIn particular, the EIB should gradually build up appropriate means to adequately meet these requirements in full consistency with the principles of the EU Sustainable Development Strategy, the Cotonou Agreement and the European Consensus on Development and should reflect: the EU's commitment and obligations under the UN Framework Convention on Climate Change (UNFCCC), the UN Convention on Biological Diversity (CBD) as well as the attainment of the UN Millennium Development Goals (MDGs); - EU's commitment and obligations under the UN Framework Convention on Climate Change (UNFCCC), the UN Convention on Biological Diversity (CBD) as well as the attainment of the UN Millennium Development Goals (MDGs); and - social, labour and environmental standards as embodied in international agreements.

Amendment 18 #

Proposal for a decision
Recital 12

(12) Moreover, EIB financing operations should contribute to the general principles guiding the EU's external action, as referred to in Article 21 of the Treaty on the European Union, ofsuch as promoting and consolidating democracy and the rule of law, human rights and fundamental freedoms, and ~~to the implementation of~~ensuring compliance with objectives approved by the EU in the context of the United Nations and other competent international organisations, and the obligations deriving from international environmental agreements to which the EU is a party. In relation to developing countries in particular, EIB financing operations should foster: sustainable economic, social and environmental development of these countries, ~~particularly in the most disadvantaged amongst them;~~with the main aim of eradicating poverty; and their smooth and gradual integration into the world economy~~; the campaign against poverty; as well as compliance with objectives approved by the EU in the context of the United Nations and other competent international organisations~~. The EIB should gradually build up appropriate means to adequately meet these requirements.

Amendment 19 #

Proposal for a decision
Recital 13

(13) Under this decision, the EIB should increase its development ~~orientation~~expertise in close coordination with the Commission ~~and following~~in order to apply the principles of the European Consensus on Development as well as the principles of aid effectiveness outlined in the Paris Declaration of 2005 and the Acrra Agenda for Action of 2008. This should be implemented through a number of concrete measures, in particular by reinforcing its capacity to appraise social, environmental and development aspects of projects, including human rights and conflict related risks, and by promoting local consultation which should be part of the EIB's due diligence procedure prior to the approval of projects. Moreover, it should increase its focus on sectors where it has sound expertise from financing operations within the EU and which will further the development of the country in question, such as environmental infrastructure including water and sanitation, sustainable transportation and climate change mitigation, particularly in renewable energy. The EIB should also progressively strengthen its activity in support of health and education as well as of climate change adaptation, where appropriate working in cooperation with other International Finance Institutions (IFIs) and European bilateral finance institutions (EBFIs). This will require access to concessional resources and a progressive increase in human resources devoted to EIB external activities. EIB activity should also be complementary to EU objectives and priorities relating to institution building and sector reforms. Finally, the EIB should define performance indicators which are linked to development aspects of the projects and their results. Compliance with the provisions of the Aarhus Convention on Access to Information, Public Participation in Decision-Making and Access to Justice in Environmental Matters should be ensured by the EIB at the different relevant stages of the projects.

Amendment 20 #

Proposal for a decision
Recital 13

(13) Under this decision, the EIB should increase its development orientation ~~in close coordination with the Commission and following the principles of the European Consensus on Develop~~, following the principles of the European Consensus on Development, in close coordination with the Commission and under the democratic scrutiny of the European Parliament. This should be implemented through a number of concrete measures, in particular by reinforcing its capacity to appraise social and development aspects of projects, including human rights and conflict related risks, and by promoting local consultation. Moreover, it should increase its focus on sectors where it has sound expertise from financing operations within the EU and which will further the development of the country in question, such as environmental infrastructure including water and sanitation, sustainable transportation and climate change mitigation, particularly in renewable energy. The EIB should also progressively strengthen its activity in support of health and education as well as of climate change adaptation, where appropriate working in cooperation with other International Finance Institutions (IFIs) and European bilateral finance institutions (EBFIs). This will require access to concessional resources and a ~~progressive increase in~~n increase in specialised human resources devoted to EIB external activities. EIB activity should also be complementary to EU objectives and priorities relating to institution building and sector reforms. Finally, the EIB should define performance indicators which are linked to development aspects of the projects and their results.

Amendment 21 #

Proposal for a decision
Recital 23

(23) The practical measures for linking the general mandate objectives and their implementation will be set out in regional operational guidelines developed by the Commission together with the EIB, in consultation with the EEAS on policy issues, appropriate. These guidelines should take as a starting point the wider EU policy framework for each region, reflect EU country strategies and aim to ensure that EIB financing is complementary to corresponding EU assistance policies, programmes and instruments in the different regions. The guidelines ~~should~~will be provided to the European Parliament and Council in the framework of the annual reporting exercise on the EIB external mandate of the Commission.

Amendment 22 #

Gabriele ZIMMER

Proposal for a decision
Article 1 – paragraph 2

2. Eligible for EU guarantee shall be EIB loans and loan guarantees for investment projects carried out in countries covered by this decision, granted in accordance with the EIB's own rules and procedures, including the EIB’s statement on social and environmental standards, and in support of the relevant external policy objectives of the EU, where the EIB financing has been granted according to a signed agreement which has neither expired nor been cancelled (EIB financing operations).

Amendment 23 #

Proposal for a decision
Article 1 – paragraph 2a (new)

2a. EIB financing operations in developing countries, implemented through the Union guarantee granted to the EIB, shall have as a primary objective the reduction and, in the long term, the eradication of poverty. In particular, EIB financing operations shall be consistent with: - the EU's commitment and obligations under the UN Framework Convention on Climate Change (UNFCCC), the UN Convention on Biological Diversity (CBD) as well as the attainment of the UN Millennium Development Goals (MDGs). - social, labour and environmental standards as embodied in international agreements.

Amendment 24 #

Proposal for a decision
Article 2 – paragraph 4

4. The Climate Change Mandate shall cover EIB financing operations in all countries covered by this decision, where such EIB financing operations support the key EU policy objective of tackling climate change by supporting ~~projects in climate change mitigation and adaptation which contribute to the overall objective of~~countries in implementing their climate commitments under the United Nations Framework Convention on Climate Change (UNFCCC), in particular by avoiding or reducing greenhouse gas emissions in the areas of renewable energy, energy efficiency and sustainable transport, or by increasing resilience to the adverse impacts of climate change on vulnerable countries, sectors and communities. The Climate Change Mandate shall be implemented in close cooperation with the Commission, combining where possible and appropriate EIB financing with EU budget funds. The optional mandate shall not be counted as a contribution by the EU and its Member States to the fast-start funds agreed to at the UNFCCC COP in Copenhagen in December 2009. In order to maximise the effect on climate change mitigation, the EIB shall draw up adequate criteria for what it counts as “clean technology”, phase out fossil fuel projects and prohibit the financing of operations whose negative impacts have been denounced by international institutions such as the United Nations Environment Programme or the International Union for the Conservation of Nature. In particular, the integration of European climate policies in EIB's operations shall include: - an analysis of the carbon footprint to be included in environmental assessment procedure to determine whether project proposals maximise energy-efficiency improvements; - annual detailed reporting regarding the full carbon footprint of EIB- supported projects, or the localised and regional effects of individual projects; - the definition of appraisal procedures to take account of the needs of developing countries in relation to climate change and development, as identified in the UNFCCC National Adaptation Programmes of Action (NAPAs), and EU Regional and Country Strategy Papers (RSPs/CSPs). - the introduction of an exclusion list of types of projects/technologies they will not support, including the phasing out of financial transactions for fossil fuel projects; - the definition of objectives on renewable energy, in line with the regional/country strategy plans.

Amendment 25 #

Proposal for a decision
Article 5 – paragraph 1

1. The Commission shall develop, together with the EIB, regional operational guidelines for EIB financing under this decision. In drawing up these guidelines the Commission and the EIB will consult with the European External Action Service (EEAS) on policy issues, as appropriate. The operational guidelines aim to ensure that EIB financing supports EU policies, and shall take as a starting point the wider EU regional policy framework set by the Commission and the EEAS, as appropriate. Notably, the operational guidelines will ensure that EIB financing is complementary to corresponding EU assistance policies, programmes and instruments in the different regions, taking into account European Parliament resolutions and Council decisions and conclusions. The Commission ~~will~~shall regularly inform the European Parliament and the Council ofn the guidelines established. Within the framework set out by the operational guidelines, the EIB shall define corresponding financing strategies and ensure their implementation.

Amendment 26 #

Proposal for a decision
Article 5 – paragraph 2

2. The consistency of EIB financing operations with the external policy objectives of the EU shall be monitored in accordance with Article 10. The EIB shall develop performance indicators in relation to development, environmental and human rights aspects of projects funded as well as with regard to the indicators under the Paris Declaration for Aid Effectiveness, in order to facilitate such monitoring.

Amendment 27 #

Proposal for a decision
Article 6 – paragraph 1

1. The EIB shall carry out thorough due diligence, including local public consultation, on development-related aspects of projects covered by the EU guarantee prior to project approval. The projects include the loan activity of financial intermediaries. The EIB's own rules and procedures shall include the necessary provisions on assessment of environmental and social impact of projects and of aspects related to human rights, to ensure that only projects that are economically, financially, environmentally and socially sustainable are supported under this Decision.

Amendment 28 #

Gabriele ZIMMER

Proposal for a decision
Article 6 – paragraph 1

1. The EIB shall carry out thorough due diligence ~~on development-related aspects of projects covered by the EU guarantee. The EIB's~~with regard to the impact own ~~rules and procedures shall include the necessary provisions on a~~human rights, social, environmental and conflict issues~~sment of environmental and social impa~~ and on development-related aspects of projects ~~and of aspects related to human rights,~~covered by the EU guarantee to ensure that only projects that are economically, financially, environmentally and socially sustainable are supported under this Decision.

Amendment 29 #

Gabriele ZIMMER

Proposal for a decision
Article 6 – paragraph 2

2. In addition to the ex-ante assessment of ~~development-related aspects, the EIB should strengthen its monitoring during project implementation, inter alia, on the development impact of the project~~projectswith regard to their impact on human rights, conflict dynamics, social and environmental indicators and development-related aspects, the EIB should strengthen its monitoring during project implementation. In the event that information is received that suggests a negative impact on any of these aspects, the EIB shall be obliged to interrupt or, if necessary, to stop an operation until the situation is adequately addressed.

Amendment 30 #

Proposal for a decision
Article 6 – paragraph 2

2. In addition to the ex-ante assessment of development-related aspects, the EIB should ~~strengthen its~~carry out thorough monitoring during project implementation, inter alia, on the development ~~impact of the project~~, environmental and human rights impact of the project. The monitoring shall include the performance of financial intermediaries. The results of the monitoring shall be regularly disclosed to the public.

Amendment 31 #

Proposal for a decision
Article 8 a (new)

~~strengthening of human rights.~~Article 8a Public Participation and Disclosure of Information 1. The EIB, together with the project promoter, shall take an active part in the organisation of public consultation on development, environmental and social aspects of the project. The EIB shall identify the public affected by the project financed by the EIB. The EIB shall ensure that the local population is informed about all key issues pertaining to the EIB operations carried out in a timely manner. Appropriate grievance mechanisms shall be established and accessible throughout the implementation of EIB operations. 2. The EIB shall make documents relating to projects for which the EIB benefits from the EU guarantee directly accessible to the public in electronic form or through a register in accordance with its rules. The information to be made available and disseminated shall be updated as appropriate and shall include: - a description/summary of each project; - project appraisal reports (assessment on environmental, social, human rights and development impacts of projects); - covenants and conditions on environmental, development and human rights related aspects of projects; - monitoring reports on development, environmental and social related aspects of projects; - ex-post evaluation reports on the contribution of projects to economic development, poverty eradication, protection of the environment and

source: PE-452.570

2010/10/29 BUDG 50 amendments...

Amendment 58 #

Proposal for a decision
Recital 1

(1) In addition to its core mission of financing investment in the European Union, the European Investment Bank (EIB) has since 1963 undertaken financing operations outside the European Union in support of the EU's external policies. This allows the EU budget funds available to the external regions to be complemented by the financial strength of the EIB for the benefit of beneficiary countries. In so doing, the EIB contributes both to the development of third countries and to the EU’s prosperity in the changed global economic circumstances. The EIB operations in support of the Union's external policies must continue to be conducted under the principles of sound banking practices.

Amendment 59 #

Proposal for a decision
Recital 8

(8) In addition to the regional ceilings, the optional mandate of EUR 2 000 000 000 should be activated and allocated as an envelope to support EIB financing operations in the field of climate change mitigation and adaptation across the regions covered by the mandate. The EIB could contribute with its expertise and resources, in close cooperation with the Commission, to support public authorities as well as the private sector to address the challenge of climate change and to make the best possible use of available financing. For mitigation and adaptation projects, the resources of the EIB should be complemented ~~where~~as far as possible with concessional funds available under the EU budget, through the efficient and consistent blending of grants and loans for climate change financing in the context of EU external assistance. In this regard, it is appropriate that the Commission's annual report to the European Parliament and the Council should contain a detailed report on the financial instruments used for financing these projects, identifying the amounts of guarantees under the optional mandate and the corresponding amounts of grants.

Amendment 60 #

Proposal for a decision
Recital 8 a (new)

(8a) The eligibility of countries where the EIB finances climate-change mitigation under the EU guarantee could be restricted for countries that are deemed by the Council not committing to appropriate climate change-related targets.

Amendment 61 #

Proposal for a decision
Recital 9

(9) Some flexibility on regional allocation under the Climate Change Mandate should be provided to allow for the fastest and most effective possible uptake of available financing within the 3-year period 2011- 2013~~. In the event that the total amount of financing operations under consideration would exceed the available EUR 2 billion, the Commission and the EIB should strive to ensure~~, while ensuring a balanced distribution across ~~the~~ regions cover~~ed,~~ the period based on the established priorities for external aid under the General Mandate.

Amendment 62 #

Proposal for a decision
Recital 11

(11) In order to enhance the coherence of the mandate, strengthen the focus of the EIB external financing activity on supporting EU policies, and for the maximum benefit of beneficiaries, this decision should set out horizontal high- level objectives in the mandate for EIB financing operations across all eligible countries, building on the comparative strengths of the EIB in areas where it has a well-proven track record. In all regions covered by this decision, the EIB should thus finance projects in the areas of climate change mitigation and adaptation, social and economic infrastructure (notably in transport, energy including renewable energy, energy security, energy infrastructure, environmental infrastructure including water and sanitation, as well as information and communication technology (ICT)), and local private sector development, in particular in support of small and medium- sized enterprises (SMEs). It should be recalled that improving access for SMEs to capital can play an essential role in stimulating economic development and the fight against unemployment. Within these areas, regional integration among partner countries, including economic integration between pre-accession countries, neighbouring countries and the EU, should be an underlying objective for EIB financing operations. The EIB can support EU presence in partner countries through foreign direct investment that contributes to promoting technology and knowledge transfer either under the EU guarantee for investments within the aforementioned areas or at its own risk.

Amendment 63 #

Proposal for a decision
Recital 12

(12) Moreover, EIB financing operations should contribute to the general principles guiding the EU's external action, as referred to in Article 21 of the Treaty on the European Union, of promoting and consolidating democracy and the rule of law, human rights and fundamental freedoms, and to the implementation of international environmental agreements to which the EU is a party. In relation to developing countries9 in particular, EIB financing operations should foster: sustainable economic, social and environmental development of these countries, particularly in the most disadvantaged amongst them; their smooth and gradual integration into the world economy; the campaign against poverty; as well as compliance with objectives approved by the EU in the context of the United Nations and other competent international organisations. The EIB should gradually build up appropriate means to adequately meet these requirements. 9 As defined in the OECD list of ODA recipients (which include Least Developed Countries, Low Income Countries as well as Middle Income Countries).deleted

Amendment 64 #

Proposal for a decision
Recital 12

(12) More~~over~~ generally, EIB financing operations should contribute to the general principles guiding the EU's external action, as referred to in Article 21 of the Treaty on the European Union, of promoting and consolidating democracy and the rule of law, human rights and fundamental freedoms, and to the implementation of international environmental agreements to which the EU is a party. In relation to developing countries9 in particular, EIB financing operations should foster: sustainable economic, social and environmental development of these countries, particularly in the most disadvantaged amongst them; their smooth and gradual integration into the world economy; the campaign against poverty; as well as compliance with objectives approved by the EU in the context of the United Nations and other competent international organisations~~. The EIB should gradually build up appropriate~~, thus striving to achieve the underlying objective of reducing poverty. The EIB should promote equal access to financial services, in particular for disadvantaged groups such as minorities, farmers and women. In order to adequately meet these requirements, the Council and the EIB governing bodies should guarantee an increase in EIB resources and staff within a reasonable time, and should substantially build up means to adequately meet these requirements.

Amendment 65 #

Proposal for a decision
Recital 12

(12) Moreover, EIB financing operations should contribute to the general principles guiding the EU's external action, as referred to in Article 21 of the Treaty on the European Union, of promoting and consolidating democracy and the rule of law, human rights and fundamental freedoms, and to the implementation of international environmental agreements to which the EU is a party. In relation to developing countries9 in particular, EIB financing operations should foster: sustainable economic, social and environmental development of these countries, particularly in the most disadvantaged amongst them; their smooth and gradual integration into the world economy; the campaign against poverty; as well as compliance with objectives approved by the EU in the context of the United Nations and other competent international organisations. ~~The EIB should gradually build up appropriate means to adequately meet these requirements~~In order to adequately meet these requirements the EIB governing bodies shall gradually guarantee an increase in EIB resources and staff.

Amendment 66 #

Proposal for a decision
Recital 13

(13) UWhile the EIB's strength remains its distinctiveness as an investment bank, under this decision, the EIB should ~~increase its~~frame the development ~~orient~~impact of its external operations in close coordination with the Commission and follow~~ing~~ the principles of the European Consensus on Development and those set out in Article 208 TFEU, as well as the principles of aid effectiveness outlined in the Paris Declaration of 2005 and the Accra Agenda for Action of 2008. This should be implemented through a number of concrete measures, in particular by reinforcing its capacity to appraise environmental, social and development aspects of projects, including human rights and conflict related risks, and by promoting local consultation with public authorities and civil society. When making due diligence of the project, the EIB should take into consideration the results of local consultations, carried by the project promoter. The results from the local consultations should be disclosed to the public. Moreover, it should increase its focus on sectors where it has sound expertise from financing operations within the EU and which will further the development of the country in question, (such as, inter alia, access to financial services for SMEs and micro-entities), environmental infrastructure including water and sanitation, sustainable transportation and climate change mitigation, particularly in renewable energy. Financing could also include projects in support of health and education, particularly in the area of vocational training and infrastructure, when there is clear added value. The EIB should also progressively strengthen its activity in support of ~~health and education as well as of~~ climate change adaptation, where appropriate working in cooperation with ~~other~~ International Finance Institutions (IFIs) and European bilateral finance institutions (EBFIs). This will require access to concessional resources and a ~~progressive increase~~n increase, within a reasonable period, in human resources devoted to EIB external activities. EIB activity should also be complementary to EU objectives and priorities relating to institution building and sector reforms. Finally, the EIB should define performance indicators which are linked to development aspects of the projects and their results.

Amendment 67 #

Carl HAGLUND, Riikka PAKARINEN, Ivars GODMANIS, Anne E. JENSEN

Proposal for a decision
Recital 13

(13) ~~Under this decision, the EIB should increase its development orient~~While the EIB's strength remains its distinctiveness as an investment bank, under this decision, the EIB should frame the development impact of its external operations in close coordination with the Commission and follow~~ing~~ the principles of the European Consensus on Development and those set out in Article 208 TFEU, as well as the principles of aid effectiveness outlined in the Paris Declaration of 2005 and the Accra Agenda for Action of 2008. This should be implemented through a number of concrete measures, in particular by reinforcing its capacity to appraise environmental, social and development aspects of projects, including human rights and conflict related risks, and by promoting local consultation with public authorities and civil society. Local consultations should take place within EIB's project due diligence. Moreover, it should increase its focus on sectors where it has sound expertise from financing operations within the EU and which will further the development of the country in question, (such as, inter alia, access to financial services for SMEs and micro-entities), environmental infrastructure including water and sanitation, sustainable transportation and climate change mitigation, particularly in renewable energy. Financing could also include projects in support of health and education, particularly in the area of vocational training and infrastructure, when there is clear added value. The EIB should also progressively strengthen its activity in support of ~~health and education as well as of~~ climate change adaptation, where appropriate working in cooperation with ~~other~~ International Finance Institutions (IFIs) and European bilateral finance institutions (EBFIs). This will require access to concessional resources and a ~~progressive increase~~n increase, within a reasonable period, in human resources devoted to EIB external activities. EIB activity should also be complementary to EU objectives and priorities relating to institution building and sector reforms. Finally, the EIB ~~should~~must define performance indicators which are linked to development and environment aspects of the projects and their results.

Amendment 68 #

Proposal for a decision
Recital 16

(16) EIB activity in Neighbourhood countries should take place in the framework of the European Neighbourhood Policy, under which the EU aims to develop a special relationship with neighbouring countries with a view to establishing an area of prosperity and good neighbourliness, founded on the values of the EU and characterised by close and peaceful relations based on co-operation. To achieve these objectives the EU and its partners implement jointly agreed bilateral Action Plans defining a set of priorities including on political and security issues, trade and economic matters, environmental concerns and integration of transport and energy networks. The Union for the Mediterranean, the EU Strategy for the Baltic Sea Region, the Eastern Partnership, and the Black Sea Synergy are multilateral and regional initiatives complementary to the European Neighbourhood Policy aimed at fostering co-operation between the EU and the respective group of neighbouring partner countries facing common challenges and/or sharing a common geographical environment. The Union for the Mediterranean supports improved socio-economic, solidarity, regional integration, sustainable development and knowledge building, underlining the need to increase financial co-operation to support regional and trans-national projects. The EU Strategy for the Baltic Sea Region supports a sustainable environment and optimal economic and social development in the Baltic Sea region. The Eastern Partnership aims to create the necessary conditions to accelerate political association and further economic integration between the EU and Eastern Partner countries. The Russian Federation and the EU have a wide-ranging Strategic Partnership, distinct from the European Neighbourhood Policy and expressed through the Common Spaces and Roadmaps. Th~~is is~~ese are complemented at multilateral level by the Northern Dimension which provides a framework for co-operation between the EU, Russia, Norway and Iceland.

Amendment 69 #

Proposal for a decision
Recital 21

(21) With a view to enhancing the coherence of overall EU support in the regions concerned, opportunities should be sfou~~ght~~nd to combine EIB financing with EU budgetary resources when and as appropriate, in the form e.g. of guarantees, risk capital and interest rate subsidies, investment co-financing, alongside technical assistance for project preparation and implementation, through the IPA, the ENPI, the Instrument for Stability, the EIDHR and the DCI. Whenever such a combination of EIB financing with other EU budgetary resources occurs, all financing decisions should clearly identify the resources to be engaged. The Commission's annual report to the European Parliament and the Council on EIB financing operations carried out under this Decision should contain a detailed breakdown of the budgetary resources and financial instruments used in combination with the EIB financing.

Amendment 70 #

Proposal for a decision
Recital 24

(24) The EIB should prepare, in consultation with the Commission, an indicative multi-annual programme of the planned volume of signatures of EIB financing operations, so as to ensure appropriate budgetary planning for provisioning the Guarantee Fund and to ensure compatibility of the EIB’s forecast financing with the ceilings established in this Decision. The Commission should take account of this plan in its regular budget programming transmitted to the budgetary authority.

Amendment 71 #

Proposal for a decision
Recital 25

(25) The Commission should ~~study the development~~propose, on the basis of the existing positive experience, the implementation of an ’"EU platform for cooperation and development’" with a view to optimising and rationalising the functioning of mechanisms for ~~the~~increased blending of grants and loans in the external regions. In its reflections the Commission should consult the EIB, the EBRD as well as the other European multilateral and bilateral finance institutions. For this purpose the Commission will create a working group composed of Member State representatives, Members of the European Parliament, EIB and other European multilateral and bilateral finance institutions. Such a platform wshould ~~continue to promote~~promote, under the direction of the Commission, synergies, concerted programming, mutual reliance arrangements, based on the comparative advantage of the different institutions while respecting the role and prerogatives of the EU institutions in the implementation of the EU budget and of ~~EIB loans~~the financing institutions' loans. Such a platform will be particularly useful when financing development-oriented projects or projects countering climate change.

Amendment 72 #

Proposal for a decision
Recital 25

(25) The Co~~mmission should study~~uncil, the Commission, the European Parliament and the EIB, as the EU Bank, should study, by the end 2011, the development of an ’‘EU platform for cooperation and development’ with a view to optimising the functioning of mechanisms for the blending of grants and loans in the external regions. ~~In its reflections the Commission should consult the EIB as~~For this purpose the Council and the Commission will create a working group composed of Member States representatives, Members of the European Parliament and the EIB. The working group weill ~~as the~~consult other European multilateral and bilateral finance institutions. Such a platform would continue to promote mutual reliance arrangements, based on the comparative advantage of the different institutions while respecting the role and prerogatives of the EU institutions in the implementation of the EU budget and of EIB loans.

Amendment 73 #

Giovanni COLLINO

Proposal for a decision
Recital 25

(25) ~~The Commission should study~~It would be appropriate to study by 2012 the development of an "EUuropean platform for cooperation and development" with a view to optimising the functioning of mechanisms for the blending of grants and loans in the external regions. ~~In its reflections the Commission should consult the EIB as well as the other European multilateral and bilater~~That study should contain an impact assessment that takes into account the costs and benefits of the platform. In their reflections the Commission, the Council and Parliament should create a working party, by 2011, with the participation of the EIB, that takes into account the views of the other European international finance institutions. Such a platform would continue to promote mutual reliance arrangements, based on the comparative advantage of the different institutions while respecting the role and prerogatives of the EU institutions in the implementation of the EU budget and of EIB loans.

Amendment 74 #

Proposal for a decision
Recital 26

(26) The EIB should be encouraged to increase its operations and to diversify its financial instruments outside the EU without recourse to the EU guarantee ~~in ord~~so that use of the guarantee can be encouraged for countries and projects with the poorest access to the market and where t~~o support~~he guarantee therefore provides higher added value. Consequently, and always with the aim of supporting the objectives of the EU's external ~~policy objectives~~relations policy, the EIB should increase the amounts loaned at its own risk, particularly in pre-accession countries and neighbourhood countries and in investment grade countries in other regions, but also in sub-investment grade countries and providing sub-sovereign lending when the EIB has the appropriate third party guarantees. In consultation with the Commission, the EIB should develop a policy for deciding between the allocation of projects to either the mandate under EU guarantee or to EIB own risk financing. Such a policy would notably take into account the creditworthiness of the countries and projects concerned. When the external mandate is renewed for the post-2013 period, this policy should be reviewed and the list of countries eligible under the guarantee re-examined taking into account the implications on the provisioning of the Guarantee Fund for External Action .

Amendment 75 #

Proposal for a decision
Recital 29 a (new)

(29a) In the countries of common intervention, the EIB and the EBRD should improve their cooperation. The modalities for the implementation of EIB financing in the Eastern Neighbourhood and Partnership countries, Russia, Central Asia and Turkey are set out in tripartite Memoranda of Understanding between the Commission, the EIB and the European Bank for Reconstruction and Development. Not only should these memoranda prevent the EIB and the EBRD competing with each other, they should allow them to act in a complementary way by maximising their respective comparative advantages. The memoranda should also provide for convergence of their procedures within a reasonable period. Consideration should be given to establishing closer links over time between these two banks with majority European capital, with a view to optimising the European external action financing instruments.

Amendment 76 #

Proposal for a decision
Recital 30

(30) The reporting and transmission of information by the EIB to the Commission should be strengthened in order to allow the Commission to enhance its annual report to the European Parliament and the Council on the EIB financing operations carried out under this decision. The report should in particular assess the compliance of EIB financing operations with this decision, taking into account the operational guidelines, and include sections on added value in line with EU policies and sections on cooperation with the Commission, the EBRD, other IFIs and bilateral donors, including co-financing~~. Where necessary, the report should include references to significant changes in circumstances that would justify further amendments to the mandate before the end of the period~~, as well as evaluations of the accessibility, transparency and efficiency of the loans. The report should also assess the extent to which the EIB has taken into account economic, financial, environmental and social sustainability in the design and monitoring of the projects financed. It should also contain a specific section devoted to a detailed evaluation of the measures taken by the EIB to comply with the provisions of the current mandate, paying particular attention to EIB operations using financial vehicles situated in offshore financial centres. In its financing operations the EIB should ensure that its policies towards weakly regulated or uncooperative jurisdictions, including tax havens, are adequately implemented to contribute to the international fight against tax fraud and tax evasion. The report should include an appraisal of social and development- related aspects of projects. The report should be made public, thus allowing opinions by relevant NGOs and recipient countries. Where necessary, the report should include references to significant changes in circumstances that would justify further amendments to the mandate before the end of the period. This report should in particular include a detailed breakdown of EIB financing under this Decision in combination with all EU financial resources and other donors, thus giving a detailed overview of the financial exposure of financing operations.

Amendment 77 #

Proposal for a decision
Article 1 – paragraph 1 a (new)

1a. More generally, EIB financing operations shall contribute to the general principles guiding the EU's external action, as referred to in Article 21 of the Treaty on European Union, of promoting and consolidating democracy and the rule of law, human rights and fundamental freedoms, and contribute to the implementation of international environmental agreements to which the EU is a party. Compliance of the beneficiary country with the principles and objectives of the Aarhus Convention on Access to Information, Public Participation in Decision-Making and Access to Justice in Environmental Matters shall be ensured by the EIB at the different relevant stages of the projects. In relation to developing countries in particular, an underlying objective for EIB financing operations shall be the reduction of poverty through fostering: sustainable economic, social and environmental development of these countries, particularly in the most disadvantaged amongst them; sustainable management of global natural resources; their smooth and gradual integration into the world economy; the campaign against poverty; as well as compliance with objectives approved by the EU in the context of the United Nations and other competent international organisations. The EIB shall promote equal access to financial services, in particular for disadvantaged groups such as minorities, farmers and women. In order to adequately meet these requirements, the Council shall guarantee an increase in EIB resources and staff within a reasonable time, and should substantially build up means to adequately meet these requirements.

Amendment 78 #

Proposal for a decision
Article 2 – paragraph 4

Amendment 79 #

Proposal for a decision
Article 2 – paragraph 4 a (new)

4a. Adequate criteria for what qualifies as “clean technology” need to be oriented in principle at energy efficiency and zero- emission energy provision, excluding support for fossil fuel-based CO2-emitting energy provision.

Amendment 80 #

Proposal for a decision
Article 2 – paragraph 5

Amendment 81 #

Proposal for a decision
Article 2 – paragraph 5 a (new)

5a. Both the General Mandate and the Climate Change Mandate shall be managed under the principles of sound banking practices.

Amendment 82 #

Proposal for a decision
Article 3 – paragraph 1 – introductory part

1. The EU guarantee shall be granted for EIB financing operations which support any of the following general objectives:

Amendment 83 #

Proposal for a decision
Article 4 – paragraph 4

4. In the event of serious concerns over the political or economic situation and policies in a specific country, the European Parliament and the Council may decide to suspend new EIB financing under EU guarantee in that country in accordance with the ordinary legislative procedure.

Amendment 84 #

Proposal for a decision
Article 5 – paragraph 1

1. The Commission shall develop, together with the EIB and the EEAS, regional operational guidelines for EIB financing under this decision. In drawing up these guidelines the Commission and the EIB ~~will consult~~shall work together with the European External Action Service (EEAS) on policy issues~~, as appropriate~~ falling within its remit. The operational guidelines aim to ensure that EIB financing supports EU policies, and shall take as a starting point the wider EU regional policy framework set by the Commission and the EEAS, as appropriate. ~~Notably~~Furthermore, the operational guidelines will ensure that EIB financing is complementary to corresponding EU assistance policies, programmes and instruments in the different regions, taking into account European Parliament resolutions ~~and~~ Council decisions and conclusions and the European Consensus on Development. The Commission ~~will inform~~shall report to the European Parliament and the Council ofn the guidelines established. Within the framework set out by the operational guidelines, the EIB shall define corresponding financing strategies and ensure their implementation.

Amendment 85 #

Proposal for a decision
Article 6 – paragraph 1 – subparagraph 1

1. The EIB shall carry out thorough due diligence, verifying the presence of appropriate local public consultation, on development-related aspects of projects covered by the EU guarantee. The EIB's own rules and procedures shall include the necessary provisions on assessment of environmental and social impact of projects and of aspects related to human rights, to ensure that only projects that are wholly economically, financially, environmentally and socially sustainable are supported under this Decision. The Commission shall include on an aggregate basis in the annual report to the European Parliament and the Council an assessment of the development dimension of the activities of the EIB, based on the due diligence carried out for the projects. Where appropriate, the appraisal shall assess how the capacities of the beneficiaries of EIB financing can be reinforced throughout the project cycle with technical assistance.

Amendment 86 #

Proposal for a decision
Article 6 – paragraph 1 – subparagraph 1

1. The EIB shall carry out thorough due diligence, verifying the presence of appropriate local public consultation, on development-related aspects of projects covered by the EU guarantee. The EIB's own rules and procedures shall include the necessary provisions on assessment of environmental and social impact of projects and of aspects related to human rights, to ensure that only projects that are wholly economically, financially, environmentally and socially sustainable are supported under this Decision. The Commission shall include in the annual report to the European Parliament and the Council on the activities of EIB information on the development dimension of the EIB operations, drafted on the basis of the due diligence reports carried out through the year. Where appropriate, the appraisal shall assess how the capacities of the beneficiaries of EIB financing can be reinforced throughout the project cycle with technical assistance. The EIB shall amend its rules and procedures to allow these new tasks.

Amendment 87 #

Proposal for a decision
Article 6 – paragraph 1 – subparagraph 1

1. The EIB shall carry out thorough due diligence, including local public consultation, on development-related aspects of projects covered by the EU guarantee prior to project approval, including, in an appropriate form, the loan activity of financial intermediaries. The EIB's own rules and procedures shall include the necessary provisions on assessment of environmental and social impact of projects and of aspects related to human rights, to ensure that only projects that are economically, financially, environmentally and socially sustainable are supported under this Decision. The project appraisal reports adopted within the due diligence process shall be disclosed to the public. The Commission shall report annually to the European Parliament on the outcome of the due diligence.

Amendment 88 #

Proposal for a decision
Article 6 – paragraph 2

2. In addition to the ex-ante assessment of development-related aspects, the EIB sh~~ould strengthen its~~all require the project promoters to carry out thorough monitoring during project implementation and completion, inter alia, on the development ~~impact of the project~~, environmental and human rights impact of the project. The monitoring shall include, where possible, the performance of financial intermediaries in support of SMEs. The results of monitoring shall be disclosed.

Amendment 89 #

Proposal for a decision
Article 6 – paragraph 2

2. In addition to the ex-ante assessment of development-related aspects, the EIB should strengthen its monitoring during project implementation, inter alia, on the development impact of the project. In reaching the small and medium-sized enterprises (SMEs), the EIB shall partner only with those local financial intermediary institutions that meet clear criteria developed by the Commission. These criteria will focus on ability to deliver clear impact in line with the EU development goals, local ownership of the financial intermediaries and an added value in comparison with market financing. Support of the SMEs shall be fully transparent and the value added of the EIB shall be reported regularly.

Amendment 90 #

Proposal for a decision
Article 6 – paragraph 2 a (new)

2a. The EIB shall submit to the Commission annual reports assessing the estimated development impact of the operations financed during the year. The reports shall be based on the EIB development criteria as laid down in Article 6(1). The Commission shall present the development reports of EIB to the European Parliament and the Council in the framework of the annual reporting exercise provided for in Article 10 and make them public, so that interested stakeholders, including NGOs and recipient countries, are also able to express their positions on the matter. The European Parliament shall discuss the annual reports, taking into consideration the opinions of all interested parties.

Amendment 91 #

Proposal for a decision
Article 8 – title

Cooperation with other ~~international~~public financialng institutions

Amendment 92 #

Proposal for a decision
Article 8 – paragraph 2 a (new)

2a. The Commission shall propose, on the basis of the existing positive experience, the implementation of an "EU platform for cooperation and development" with a view to optimising and rationalising the functioning of mechanisms for increased blending of grants and loans in the external regions. In its reflections the Commission shall consult the EIB, the EBRD and the other European multilateral and bilateral finance institutions. For this purpose the Commission shall create a working group composed of Member State representatives, Members of the European Parliament, EIB and other European multilateral and bilateral finance institutions.

Amendment 93 #

Proposal for a decision
Article 8 – paragraph 2 a (new)

2a. The Council, the Commission and the EIB, based on the experience accumulated, shall establish an appropriate platform to maximise the effectiveness of EU financing, in support of EU development and cooperation objectives in the countries eligible for EIB financing.

Amendment 94 #

Proposal for a decision
Article 8 a (new)

Article 8 a Public participation and disclosure of information 1. The EIB shall, together with the project promoter, take an active part in the organisation of public consultation on development, environmental and social aspects of the project. The EIB shall identify the public affected in the project financed by the EIB. The EIB shall ensure that the local population is informed about all key issues pertaining to the EIB operations carried out in a timely manner. 2. The EIB shall make documents relating to projects for which the EIB benefits from the EU guarantee directly accessible to the public in electronic form or through a register in accordance with its rules. The information to be made available and disseminated shall be updated as appropriate and shall include: - a description/summary of the project; - projects appraisal reports (assessment on environmental, social, human rights and development impacts of the project); - covenants and conditions on environmental, development and human rights related aspects of the projects; - monitoring reports on development, environmental and social related aspects of the projects; - ex-post evaluation reports on the contribution of the projects to economic development, poverty eradication, protection of the environment and strengthening of human rights.

Amendment 95 #

Proposal for a decision
Article 10 – paragraph 1

1. The Commission shall report annually to the European Parliament and the Council on EIB financing operations carried out under this decision. The report shall include an assessment of EIB financing operations at project, sector, country and regional level ~~as well as~~, of the implementation of the EIB's practices with regard to accessibility, transparency and efficiency of the loans, as well as an assessment of the contribution of the EIB financing operations to the fulfilment of the external policy and strategic objectives of the EU. The report shall provide a summary of the on going projects. The report shall in particular assess the compliance of EIB financing operations with this Decision, taking into account the operational guidelines referred to in Article 5, and shall include sections on added value for the achievement of EU policy objectives ~~as well as on cooperation with the Commission and other international financial institutions and bilateral institutions, including co-financing~~on the assessment of the estimated development impact and the extent to which the EIB has taken into account environmental and social sustainability in the design and monitoring of the projects financed as well as on cooperation with the Commission and other international financial institutions and bilateral institutions, including co-financing. Moreover, the EIB shall continue to provide to the European Parliament, Council and Commission all its independent evaluation reports which assess the practical results achieved by the specific activities of the EIB under the external mandates. The reports shall also contain an assessment of the EIB's human and material resources policy relating to its activities outside the Union.

Amendment 96 #

Proposal for a decision
Article 10 – paragraph 2

2. For the purposes of paragraph 1, the EIB shall provide the Commission with yearly reports on EIB financing operations carried out under this decision at project, sector, country and regional level and on the fulfilment of the external policy and strategic objectives of the EU, including cooperation with the Commission, other international financial institutions and bilateral institutions as well as a development impact assessment report, as referred to in Article 6. Any Memoranda of Understanding between the EIB and other IFIs or bilateral institutions relating to carrying out financial operations under this Decision shall be disclosed.

Amendment 97 #

Proposal for a decision
Article 10 – paragraph 5 a (new)

5a. Failure to comply with the reporting requirements laid down in this Article shall lead to an obligation of the EIB to cure and not to a loss of EU guarantee cover.

Amendment 98 #

Proposal for a decision
Article 10 a (new)

Article 10a Non-cooperative jurisdictions In its financing operations, the EIB shall not tolerate any activities carried out for illegal purposes, including money laundering, terrorism financing, tax fraud and tax evasion. In particular the EIB shall not participate in any operation implemented through a non-cooperative jurisdiction, as identified by the OECD, the Financial Action Task Force (FATF) and other relevant organisations.

Amendment 99 #

Proposal for a decision
Article 10 a (new)

Article 10a The EIB, in its financing operations, shall ensure that its policies towards weakly regulated or uncooperative jurisdictions, including tax havens, contribute to the fight against tax fraud and tax evasion.

Amendment 100 #

Giovanni COLLINO

Proposal for a decision
Article 10 a (new)

Article 10a Perspectives for development financing The Commission shall, together with the EIB, create a working party to discuss the perspectives of the development financing originating from the EU to review the existing practices and suggest changes in the organisation and coordination of development aid and the increase in its efficiency and effectiveness. The working party shall include the Commission, the EIB, representatives of the Member States and the European Parliament, and shall take into account the views of the other European financial institutions and principal interest groupings, including private sector players.

Amendment 101 #

Proposal for a decision
Article 10 b (new)

Article 10b Perspectives for cooperation and development financing The Commission shall, together with the EIB, create a working party to discuss the perspectives of the cooperation and development financing originating from the EU to review the existing practices and suggest changes in the organisation and coordination of development aid and the increase in its efficiency and effectiveness. The working party shall include representatives of Member States, the European Parliament, other European financial institutions and shall consult as appropriate relevant NGOs, the private sector and experts from countries with a good track record of receiving development assistance. The working party shall present its report with recommendations before 31 December 2012.

Amendment 102 #

Proposal for a decision
Article 10 b (new)

Article 10b The Commission and the EIB shall provide recommendations, by mid-2012, to the European Parliament and the Council on the way forward for the EU development financing architecture. For this purpose a working party shall be created including representatives of the Commission, EIB, European Parliament and Member States and shall consult other European financial institutions, the private sector, NGOs and experts from developing countries.

Amendment 103 #

Proposal for a decision
Article 14

The Commission shall present to the European Parliament and the Council a final report on the application of this decision by 31 October 2014.

Amendment 104 #

Proposal for a decision
Annex I – point D – paragraph 1

Within the ~~regional~~ ceilings of the General Mandate, the governing bodies of the EIB may decide to reallocate an amount of up to 120 % of the regional ceilings between the ~~indicative sub-regional ceiling~~regions.

Amendment 105 #

Giovanni COLLINO

Proposal for a decision
Annex I – point D – paragraph 1

Within the ~~regional~~ ceilings of the General Mandate, the governing bodies of the EIB may decide to reallocate an amount of up to 10 20% of the regional ceiling between the indicative ~~sub-~~regional ceilings.

Amendment 106 #

Proposal for a decision
Annex II – point B – point 2 – paragraph 1

Eastern Europe: Republic of Moldova, Ukraine, Belarus (*);

Amendment 107 #