Local view for "http://purl.org/linkedpolitics/eu/plenary/2011-02-17-Speech-4-166-000"

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"en.20110217.18.4-166-000"2
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"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 EU in support of the EU’s external policies, particularly in the field of development cooperation. The aim of the proposed EU guarantee for the 2011–2013 period is to allow the EIB to finance investments outside the EU without affecting its credit rating. The proposal also contains a number of new elements, for example activation of the EUR 2 billion ’optional mandate’ for combating climate change in line with the Europe 2020 Strategy, the introduction of new horizontal goals, and the expansion of the group of countries eligible for EIB loans. The proposal also calls for greater transparency, the evaluation of concrete results and the involvement of the European Court of Auditors in auditing the transactions in question. The proposal rightly includes arrangements for the EIB to act in such matters in accordance with the principles of aid effectiveness outlined in the European Consensus on Development and also Article 208 of the Treaty on the Functioning of the European Union, the Paris Declaration of 2005 and the Accra Agenda for Action of 2008. Overall, I believe that the report submitted by my colleague Ivailo Kalfin provides a detailed analysis of the given issues, makes reference to the relevant EU legislation and also contains relevant recommendations with respect to monitoring the effectiveness of the proposed guarantee, and I therefore recommend approving it in its proposed form."@en1

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