Local view for "http://purl.org/linkedpolitics/eu/plenary/2011-02-17-Speech-4-018-000"
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"en.20110217.4.4-018-000"2
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".
Mr President, I would like to express my sincere thanks to the rapporteur, Mr Kalfin, who has done a sterling job. He worked together with both the European Investment Bank (EIB) and the shadow rapporteurs from the five different committees in Parliament that were involved. I really think they have achieved an excellent result.
The financial crisis shows how very important it is to have stable public institutions responsible for granting credit in crucial investment areas when the private financial market is fluctuating. Therefore, we are now discussing the creation of new financial instruments in many different contexts, but also the development of the instruments that we already have, in this case the EIB’s activities outside Europe.
I would very much like to highlight three points that I hope will gain a hearing both in this Chamber and in the Council. The first concerns a greater degree of consistency between the EIB’s activities and the guidelines for the EU’s development and foreign policy. The second relates to an increase in the ceiling for projects to combat climate change, and my third point concerns increased loan ceilings which require increased guarantees from the Member States.
The majority of the EIB’s activities are directed towards Europe, but if we count the number of countries receiving loans, most of them are actually developing countries. Therefore, we are voting today, among other things, on the demand for a more stringent evaluation of projects and the demand for the EIB to carry out, in advance, a thorough assessment of whether the investment really will contribute to the achievement of our development goals. I really do call on everyone to support these demands. In order to achieve this, we also need to increase the transparency of the EIB’s activities in those countries covered by the external mandate. As things stand, we often have long, complicated chains of financial transactions that make transparency very difficult. We are also pressing for even greater attention to be paid to the EIB’s own rules against activities in tax havens.
A sound financial system is a prerequisite for a functional economy in vulnerable parts of the world. I am therefore pleased that we can now also give our support to the oral amendment, which I hope will gain the support of everyone and which will give us more resources to be able to provide to countries like Egypt and Tunisia.
This report represents an important step in a direction that I hope even the Council will support in the forthcoming negotiations."@en1
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