Local view for "http://purl.org/linkedpolitics/eu/plenary/2009-01-13-Speech-2-317"
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"en.20090113.28.2-317"2
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"Madam President, ladies and gentlemen, the discussions between Parliament and the Council on the adoption of the regulation establishing a European food facility led to the decision not to use the funds available under heading 2 of the budget to finance this facility, contrary to what was proposed by the Commission. However, the Regulation of the European Parliament and of the Council, adopted on 16 December 2008, did provide for a budget of EUR 1 billion under heading 4 of the budget for the period 2008-2010. It will be used to fund measures supporting agriculture and food security in the developing countries worst hit by the food crisis. Microcredit features largely in many of these measures, as well as others aimed at strengthening agricultural and rural production. Parliament will have the right to examine the programming of the work funded by this facility, in accordance with the provisions of the comitology regulation. I am able to tell you that an initial package of approximately EUR 300 million, involving 24 to 25 countries, will be presented in February, while the general plan for the use of the entire facility will in any case be presented by the Commission and adopted by 1 May 2009.
The Commission is in favour of developing microcredit and microfinance institutions more generally. In addition to credit, the latter offer a wide range of financial services, including savings, insurance products, money transfers and payment systems. The Commission is committed to helping the most disadvantaged individuals and those with low incomes to access these financial services. It believes that the greatest barrier to the development of financial systems for the most disadvantaged is not the lack of funding, but rather a lack of institutional and technical capacity. That is why the Commission is focusing its efforts mainly on strengthening the institutional powers of microfinance operators. In addition, where access to capital proves to be a significant limitation for microfinance institutions, for example where a microfinance institution wants to develop its services in rural areas, the Commission can fund the capital needs of these institutions through specialised financial institutions such as the European Investment Bank (EIB), using credits to grant loans or to contribute to the capital. In certain cases, where new microfinance institutions are created, the Commission may also decide to provide funding for these start-ups through specialised NGOs. Moreover, on the basis of these comparative advantages, the EIB manages microfinance operations within the general framework of the facilities funded by the EU budget, namely the FEMIP (Facility for Euro-Mediterranean Investment and Partnership) in the case of the Mediterranean region, or via the European Development Fund, which is the investment facility for the African, Caribbean and Pacific States."@en1
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