REPORT on the proposal for a decision of the European Parliament and of the Council amending Decision No 466/2014/EU granting an EU guarantee to the European Investment Bank against losses under financing operations supporting investment projects outside the Union
31.3.2017 - (COM(2016)0583 – C8‑0376/2016 – 2016/0275(COD)) - ***I
Committee on Budgets
Rapporteur: Eider Gardiazabal Rubial
Rapporteur for the opinion (*):
Nirj Deva, Committee on Development
(*) Associated committee – Rule 54 of the Rules of Procedure
- DRAFT EUROPEAN PARLIAMENT LEGISLATIVE RESOLUTION
- OPINION of the Committee on Development(*)
- OPINION of the Committee on Foreign Affairs
- OPINION of the Committee on International Trade
- OPINION of the Committee on the Environment, Public Health and Food Safety
- PROCEDURE – COMMITTEE RESPONSIBLE
- FINAL VOTE BY ROLL CALL IN COMMITTEE RESPONSIBLE
DRAFT EUROPEAN PARLIAMENT LEGISLATIVE RESOLUTION
on the proposal for a decision of the European Parliament and of the Council amending Decision No 466/2014/EU granting an EU guarantee to the European Investment Bank against losses under financing operations supporting investment projects outside the Union
(COM(2016)0583 – C8‑0376/2016 – 2016/0275(COD))
(Ordinary legislative procedure: first reading)
The European Parliament,
– having regard to the Commission proposal to Parliament and the Council (COM(2016)0583),
– having regard to Article 294(2) and Articles 209 and 212 of the Treaty on the Functioning of the European Union, pursuant to which the Commission submitted the proposal to Parliament (C8‑0376/2016),
– having regard to Article 294(3) of the Treaty on the Functioning of the European Union,
– having regard to the report from the Commission to the European Parliament and the Council on the mid-term review of the application of the Decision N° 466/2014/EU as regards the EU guarantee to the European Investment Bank against losses under financing operations supporting investment projects outside the Union (COM(2016)0584),
– having regard to Rule 59 of its Rules of Procedure,
– having regard to the report of the Committee on Budgets and the opinions of the Committee on Development, the Committee on Foreign Affairs, the Committee on International Trade and the Committee on the Environment, Public Health and Food Safety (A8-0135/2017),
1. Adopts its position at first reading hereinafter set out;
2. Calls on the Commission to refer the matter to Parliament again if it replaces, substantially amends or intends to substantially amend its proposal;
3. Instructs its President to forward its position to the Council, the Commission and the national parliaments.
Amendment 1 Proposal for a decision Recital 1 | |||||||||||||||||||||||||||||||||||||
Text proposed by the Commission |
Amendment | ||||||||||||||||||||||||||||||||||||
(1) The international community faces an unprecedented refugee crisis which requires solidarity, efficient mobilisation of financial resources and the need to confront and surmount the existing challenges in a concerted manner. All actors need to work together to apply sustained, medium and long-term policies and an efficient use of existing processes and programmes in order to support initiatives which contribute to addressing root causes of migration. |
(1) The international community faces an unprecedented migration and refugee crisis which requires solidarity, efficient mobilisation of financial resources and the need to confront and surmount the existing challenges in a concerted manner. All actors need to work together to apply sustained, medium and long-term policies and an efficient use of existing programmes in order to engineer and support initiatives, which contribute to the Sustainable Development Goals (SDGs) and to addressing root causes of migratory pressures stemming from poverty, inequality, demographic growth, lack of employment and economic opportunities, climate change and the long-term consequences of forced displacement. | ||||||||||||||||||||||||||||||||||||
Amendment 2 Proposal for a decision Recital 1 a (new) | |||||||||||||||||||||||||||||||||||||
Text proposed by the Commission |
Amendment | ||||||||||||||||||||||||||||||||||||
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(1 a) All attempts to link development finance with border control, management of migratory flows or readmission agreements should be avoided. | ||||||||||||||||||||||||||||||||||||
Amendment 3 Proposal for a decision Recital 2 | |||||||||||||||||||||||||||||||||||||
Text proposed by the Commission |
Amendment | ||||||||||||||||||||||||||||||||||||
(2) A new results-oriented partnership framework with third countries which takes account of all Union policies and instruments should be developed. As part of that new partnership framework, the External Investment Plan should be established in order to support investments in regions outside the Union, while contributing to the achievement of the sustainable development goal. It should also fulfil the objectives of the 2030 Agenda for Sustainable Development and the objectives pursued by the other financing instruments for external action. |
(2) A new results-oriented partnership framework with third countries which takes account of all Union policies and instruments should be developed. As part of that new partnership framework, the External Investment Plan should be established in order to support investments in regions outside the Union, while contributing to the achievement of the sustainable development goal. It should also fulfil the objectives of the 2030 Agenda for Sustainable Development, the Paris Agreement adopted under the United Nations Framework Convention on Climate Change and the objectives pursued by the other financing instruments for external action. | ||||||||||||||||||||||||||||||||||||
Justification | |||||||||||||||||||||||||||||||||||||
With the Paris Climate Agreement, governments agreed to limit global warming to well below 2°C above pre-industrial levels and therefore to undertake rapid reductions of GHG emissions with the best available techniques. They also committed to support developing countries in their effort toward climate change adaptation. | |||||||||||||||||||||||||||||||||||||
Amendment 4 Proposal for a decision Recital 4 | |||||||||||||||||||||||||||||||||||||
Text proposed by the Commission |
Amendment | ||||||||||||||||||||||||||||||||||||
(4) A key component of the EIB Resilience Initiative is the expansion, in both quantitative and qualitative terms, of the EIB External Lending Mandate (ELM). This should enable the EIB to rapidly contribute to the EIP’s objectives, in particular by providing additional financing to private-sector beneficiaries. |
(4) A key component of the EIB Resilience Initiative is the expansion, in both quantitative and qualitative terms, of the EIB External Lending Mandate (ELM). This should enable the EIB to rapidly contribute to the EIP’s objectives, in particular by providing additional financing to private-sector beneficiaries in order to boost long-term investment. | ||||||||||||||||||||||||||||||||||||
Amendment 5 Proposal for a decision Recital 9 | |||||||||||||||||||||||||||||||||||||
Text proposed by the Commission |
Amendment | ||||||||||||||||||||||||||||||||||||
(9) In order to allow the ELM to respond to potential upcoming challenges and Union priorities, as well as to provide a strategic response addressing root causes of migration, the maximum ceiling for the EIB financing operations under the EU guarantee should be increased to EUR 32 300 000 000 by releasing the optional additional amount of EUR 3 000 000 000. Under the general mandate, the amount of EUR 1 400 000 000 should be earmarked for projects in the public sector directed to refugees and host communities in crisis affected areas. |
(9) In order to allow the ELM to respond to potential upcoming challenges and Union priorities, as well as to provide a strategic response addressing root causes of migratory pressures stemming from poverty, inequality, demographic growth, lack of employment and economic opportunities, as well as climate change, the maximum ceiling for the EIB financing operations under the EU guarantee should be increased to EUR 38 470 000 000. Under the general mandate, the amount of EUR 1 400 000 000 should be earmarked for projects in the public sector directed towards the development of economic and social infrastructure in partner countries, transit and host communities, with a focus on job creation and sustainability. | ||||||||||||||||||||||||||||||||||||
Amendment 6 Proposal for a decision Recital 9 a (new) | |||||||||||||||||||||||||||||||||||||
Text proposed by the Commission |
Amendment | ||||||||||||||||||||||||||||||||||||
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(9 a) While addressing the root causes of the migration and refugee crisis is of paramount importance, that should not come at the cost of policies in other areas of key strategic priority as outlined in the EU Global Strategy. | ||||||||||||||||||||||||||||||||||||
Amendment 7 Proposal for a decision Recital 10 | |||||||||||||||||||||||||||||||||||||
Text proposed by the Commission |
Amendment | ||||||||||||||||||||||||||||||||||||
(10) Under the new private sector lending mandate, the maximum amount of EUR 2 300 000 000 should be dedicated to projects addressing root causes of migration within the maximum increased ceiling and should benefit from the Comprehensive Guarantee by the Union. |
(10) Under the new private sector lending mandate, the maximum amount of EUR 2 300 000 000 should be dedicated to projects addressing root causes of migration and contributing to the long-term economic resilience of refugees, migrants, host and transit communities, within the maximum increased ceiling and should benefit from the Comprehensive Guarantee by the Union. | ||||||||||||||||||||||||||||||||||||
Amendment 8 Proposal for a decision Recital 10 a (new) | |||||||||||||||||||||||||||||||||||||
Text proposed by the Commission |
Amendment | ||||||||||||||||||||||||||||||||||||
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(10 a) As one of the EIB's main objectives under the ELM, support for micro, small and medium-sized enterprises (MSMEs) and local private sector development requires a concerted effort for EIB operations to be focused on improving MSMEs' access to finance and credit, providing technical assistance, promoting entrepreneurship and ensuring the adequate provision of financial services to households and firms, to enable MSMEs to make an easier transition from the volatile informal economy to the formal sector. EIB financing operations should also seek to strongly support small investment projects run by MSMEs, further facilitating the internationalisation of MSMEs, especially in remote rural areas and in particular in the field of drinking water treatment, wastewater disposal and renewable energy. | ||||||||||||||||||||||||||||||||||||
Amendment 9 Proposal for a decision Recital 11 | |||||||||||||||||||||||||||||||||||||
Text proposed by the Commission |
Amendment | ||||||||||||||||||||||||||||||||||||
(11) Addressing root causes of migration should be added as a new objective of the mandate. |
(11) The long-term economic resilience of refugees, migrants, host and transit communities as a strategic response to addressing root causes of migration including, but not limited to, poverty, inequality, demographic growth, lack of employment and economic opportunities, and climate change, should be added as a new objective of the mandate; projects financed under the new objective should, in principle, fulfil the criteria for Official Development Assistance (ODA) established by the Development Assistance Committee (DAC) of the Organisation for Economic Co-operation and Development and should be in compliance with Article 208 of the Treaty on the Functioning of the European Union and United Nations Guiding Principles on Business and Human Rights. | ||||||||||||||||||||||||||||||||||||
Amendment 10 Proposal for a decision Recital 13 | |||||||||||||||||||||||||||||||||||||
Text proposed by the Commission |
Amendment | ||||||||||||||||||||||||||||||||||||
(13) Following the Paris Agreement adopted under the United Nations Framework Convention on Climate Change4 , the EIB should aim to sustain the current high level of climate relevant spending under the ELM, contributing to increasing its climate-related investment in developing countries from 25 % to 35 % by 2020. |
(13) Following the Paris Agreement adopted under the United Nations Framework Convention on Climate Change4 , the EIB should aim to increase the current high level of climate relevant spending under the ELM, contributing to increasing its climate-related investment in developing countries from 25 % to 35 % by 2020, in accordance with the commitment taken in its climate strategy. The EIB should take into account the the European Council conclusions of 22 May 2013 on phasing out environmentally or economically harmful subsidies, including those for fossil fuels. | ||||||||||||||||||||||||||||||||||||
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4 Council Decision (EU) 2016/590 of 11 April 2016 on the conclusion, on behalf of the European Union, of the Paris Agreement adopted under the United Nations Framework Convention on Climate Change (OJ L 103, 19.4.2016, p. 1). |
4 Council Decision (EU) 2016/590 of 11 April 2016 on the conclusion, on behalf of the European Union, of the Paris Agreement adopted under the United Nations Framework Convention on Climate Change (OJ L 103, 19.4.2016, p. 1). | ||||||||||||||||||||||||||||||||||||
Justification | |||||||||||||||||||||||||||||||||||||
In its climate strategy adopted at the end of 2015, the EIB took the commitment to raise its level of climate action projects in developing countries up to 35% by the end of 2020. This announcement should be reflected in its External Mandate. Likewise, conclusions of the European Council of 22 May 2013 should be fully reflected in Europe's external lending activities. | |||||||||||||||||||||||||||||||||||||
Amendment 11 Proposal for a decision Recital 15 | |||||||||||||||||||||||||||||||||||||
Text proposed by the Commission |
Amendment | ||||||||||||||||||||||||||||||||||||
(15) The EIB should develop and implement a set of indicators in its Results Measurement framework for projects in the public sector and in the private sector directed to refugees and host communities. Therefore, an assessment of the contribution of EIB financing operations addressing root causes of migration should be included in the Commission's annual reporting to the European Parliament and to the Council on EIB financing operations. |
(15) The EIB should develop and implement a set of indicators in its Results Measurement framework for projects in the public sector and in the private sector addressing the root causes of migration and the long-term economic resilience of refugees, migrants, host and transit communities. Therefore, an assessment of the contribution of EIB financing operations towards these objectives, notably contribution to SDGs, the involvement of local civil society, and the alignment with Union external policy priorities and budget priorities should be included in the Commission's annual reporting to the European Parliament and to the Council on EIB financing operations. The EIB should take all necessary steps to consolidate its accountability to the European Parliament, through transparency and access to information, by publishing the results, evaluations and impact appraisals of projects on a systematic basis via the Results Measurement Framework. | ||||||||||||||||||||||||||||||||||||
Amendment 12 Proposal for a decision Recital 15 a (new) | |||||||||||||||||||||||||||||||||||||
Text proposed by the Commission |
Amendment | ||||||||||||||||||||||||||||||||||||
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(15 a) Greater visibility and transparency of EIB operations under the ELM should be ensured, in particular with regard to sub-projects financed through financial intermediaries, improving access to information for the Union’s institutions and for the general public. | ||||||||||||||||||||||||||||||||||||
Amendment 13 Proposal for a decision Recital 16 | |||||||||||||||||||||||||||||||||||||
Text proposed by the Commission |
Amendment | ||||||||||||||||||||||||||||||||||||
(16) Only where it concerns the need to address urgencies and crisis situations that could arise within the mandate period and which are recognised as Union external policy priorities, the ceiling for reallocation between the regions by the EIB in the course of the mandate should be increased from 10 % to 20 %. The private sector mandate of EUR 2 300 000 000 and the amount of EUR 1 400 000 000 dedicated to public sector projects cannot be reallocated because its purpose is to address root causes of migration. |
(16) Only where it concerns the need to address urgencies and crisis situations that could arise within the mandate period and which are recognised as Union external policy priorities, the ceiling for reallocation between the regions by the EIB in the course of the mandate should be increased from 10 % to 20 %. The EIB should notify the European Parliament of any reallocation decision by providing a justification report and an impact assessment. The private sector mandate of EUR 2 300 000 000 and the amount of EUR 1 400 000 000 dedicated to public sector projects cannot be reallocated because its purpose is to address root causes of migration and the needs of refugees, migrants, transit and host communities . | ||||||||||||||||||||||||||||||||||||
Amendment 14 Proposal for a decision Article 1 – paragraph 1 – point 1 Decision No 466/2014/EU Article 2 – paragraph 1 – subparagraph 2 – point a | |||||||||||||||||||||||||||||||||||||
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Amendment 15 Proposal for a decision Article 1 – paragraph 1 – point 1 Decision No 466/2014/EU Article 2 – paragraph 1 – subparagraph 2 – point b | |||||||||||||||||||||||||||||||||||||
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Amendment 16 Proposal for a decision Article 1 – paragraph 1 – point 1 Decision No 466/2014/EU Article 2 – paragraph 2 | |||||||||||||||||||||||||||||||||||||
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Amendment 17 Proposal for a decision Article 1 – paragraph 1 – point 2 – point a Decision No 466/2014/EU Article 3 – paragraph 1 – point d | |||||||||||||||||||||||||||||||||||||
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Amendment 18 Proposal for a decision Article 1 – paragraph 1 – point 2 – point a a (new) Decision No 466/2014/EU Article 3 – paragraph 4 | |||||||||||||||||||||||||||||||||||||
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(http://eur-lex.europa.eu/legal-content/EN/TXT/PDF/?uri=CELEX:02014D0466-20160926&qid=1486646836381&from=FR) | |||||||||||||||||||||||||||||||||||||
Amendment 19 Proposal for a decision Article 1 – paragraph 1 – point 2 – point b Decision No 466/2014/EU Article 3 – paragraph 5 – subparagraph 1 | |||||||||||||||||||||||||||||||||||||
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Amendment 20 Proposal for a decision Article 1 – paragraph 1 – point 2 – point b a (new) Decision No 466/2014/EU Article 3 – paragraph 5 – subparagraph 2 | |||||||||||||||||||||||||||||||||||||
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Amendment 21 Proposal for a decision Article 1 – paragraph 1 – point 2 – point b b (new) Decision No 466/2014/EU Article 3 – paragraph 6 | |||||||||||||||||||||||||||||||||||||
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Justification | |||||||||||||||||||||||||||||||||||||
Gas production and transportation should not be covered by the EU Guarantee given that it constitutes a fossil fuel subsidy. The Decision should put in place the conclusions of the European Council of 22 May 2013 to phase out environmentally or economically harmful subsidies, including for fossil fuels. | |||||||||||||||||||||||||||||||||||||
Amendment 22 Proposal for a decision Article 1 – paragraph 1 – point 2 – point c Decision No 466/2014/EU Article 3 – paragraph 7 – subparagraph 1 | |||||||||||||||||||||||||||||||||||||
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Amendment 23 Proposal for a decision Article 1 – paragraph 1 – point 2 – point c Decision No 466/2014/EU Article 3 – paragraph 7 – subparagraph 3 | |||||||||||||||||||||||||||||||||||||
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Amendment 24 Proposal for a decision Article 1 – paragraph 1 – point 2 – point c Decision 466/2014/EU Article 3 – paragraph 7 – subparagraph 4 a (new) | |||||||||||||||||||||||||||||||||||||
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Amendment 25 Proposal for a decision Article 1 – paragraph 1 – point 2 – point c Decision No 466/2014/EU Article 3 – paragraph 8 – subparagraph 1 | |||||||||||||||||||||||||||||||||||||
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Amendment 26 Proposal for a decision Article 1 – paragraph 1 – point 2 – point c Decision No 466/2014/EU Article 3 – paragraph 8 – point b | |||||||||||||||||||||||||||||||||||||
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Amendment 27 Proposal for a decision Article 1 – paragraph 1 – point 2 – point c a (new) Decision No 466/2014/EU Article 3 – paragraph 8 a (new) | |||||||||||||||||||||||||||||||||||||
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Amendment 28 Proposal for a decision Article 1 – paragraph 1 – point 2 – point c b (new) Decision 466/2014/EU Article 3 – paragraph 8 b (new) | |||||||||||||||||||||||||||||||||||||
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Amendment 29 Proposal for a decision Article 1 – paragraph 1 – point 2 – point c c (new) Decision No 466/2014/EU Article 3 – paragraph 9 | |||||||||||||||||||||||||||||||||||||
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Amendment 30 Proposal for a decision Article 1 – paragraph 1 – point 2 a (new) Decision No 466/2014/EU Article 5 – paragraph 1 – subparagraph 3 a (new) | |||||||||||||||||||||||||||||||||||||
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Amendment 31 Proposal for a decision Article 1 – paragraph 1 – point 2 b (new) Decision No 466/2014/EU Article 5 – paragraph 1 – subparagraph 7 a (new) | |||||||||||||||||||||||||||||||||||||
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Amendment 32 Proposal for a decision Article 1 – paragraph 1 – point 2 c (new) Decision No 466/2014/EU Article 5 – paragraph 1 a (new) | |||||||||||||||||||||||||||||||||||||
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Amendment 33 Proposal for a decision Article 1 – paragraph 1 – point 3 a (new) Decision No 466/2014/EU Article 8 – paragraph 5 | |||||||||||||||||||||||||||||||||||||
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Amendment 34 Proposal for a decision Article 1 – paragraph 1 – point 3 b (new) Decision No 466/2014/EU Article 8 – paragraph 6 | |||||||||||||||||||||||||||||||||||||
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Amendment 35 Proposal for a decision Article 1 – paragraph 1 – point 3 c (new) Decision No 466/2014/EU Article 9 – paragraph 1 – subparagraph 1 | |||||||||||||||||||||||||||||||||||||
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Amendment 36 Proposal for a decision Article 1 – paragraph 1 – point 3 d (new) Decision No 466/2014/EU Article 9 – paragraph 1 – subparagraph 1 a (new) | |||||||||||||||||||||||||||||||||||||
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Justification | |||||||||||||||||||||||||||||||||||||
In 2007, the UN General Assembly adopted the United Nations Declaration on the Rights of Indigenous Peoples, recognizing their rights and making specific mention of Free, Prior and Informed Consent (FPIC) as a pre-requisite for any activity that affects their ancestral lands, territories and natural resources. Such principle should also be respected in EIB’s operations. | |||||||||||||||||||||||||||||||||||||
Amendment 37 Proposal for a decision Article 1 – paragraph 1 – point 3 e (new) Decision No 466/2014/EU Article 9 – paragraph 1 – subparagraph 2 | |||||||||||||||||||||||||||||||||||||
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Amendment 38 Proposal for a decision Article 1 – paragraph 1 – point 3 f (new) Decision No 466/2014/EU Article 9 – paragraph 3 | |||||||||||||||||||||||||||||||||||||
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Amendment 39 Proposal for a decision Article 1 – paragraph 1 – point 3 g (new) Decision No 466/2014/EU Article 9 – paragraph 5 | |||||||||||||||||||||||||||||||||||||
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Amendment 40 Proposal for a decision Article 1 – paragraph 1 – point 5 – point a Decision No 466/2014/EU Article 11 – paragraph 1 – point b | |||||||||||||||||||||||||||||||||||||
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Amendment 41 Proposal for a decision Article 1 – paragraph 1 – point 5 – point a a (new) Decision No 466/2014/EU Article 11 – paragraph 1 – point c | |||||||||||||||||||||||||||||||||||||
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Amendment 42 Proposal for a decision Article 1 – paragraph 1 – point 5 – point a b (new) Decision No 466/2014/EU Article 11 – paragraph 1 – point e | |||||||||||||||||||||||||||||||||||||
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Amendment 43 Proposal for a decision Article 1 – paragraph 1 – point 5 – point b Decision No 466/2014/EU Article 11 – paragraph 1 – point j | |||||||||||||||||||||||||||||||||||||
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Amendment 44 Proposal for a decision Article 1 – paragraph 1 – point 5 a (new) Decision No 466/2014/EU Article 11 – paragraph 2 | |||||||||||||||||||||||||||||||||||||
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Amendment 45 Proposal for a decision Article 1 – paragraph 1 – point 5 b (new) Decision No 466/2014/EU Article 12 – paragraph 1 – introductory part | |||||||||||||||||||||||||||||||||||||
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Amendment 46 Proposal for a decision Article 1 – paragraph 1 – point 5 c (new) Decision No 466/2014/EU Article 12 – paragraph 1 – point a | |||||||||||||||||||||||||||||||||||||
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Amendment 47 Proposal for a decision Article 1 – paragraph 1 – point 5 d (new) Decision No 466/2014/EU Article 12 – paragraph 1 – point c | |||||||||||||||||||||||||||||||||||||
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Amendment 48 Proposal for a decision Article 1 – paragraph 1 – point 5 e (new) Decision No 466/2014/EU Article 13 | |||||||||||||||||||||||||||||||||||||
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Amendment 49 Proposal for a decision Article 1 – paragraph 1 – point 5 f (new) Decision No 466/2014/EU Article 14 – paragraph 1 | |||||||||||||||||||||||||||||||||||||
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Amendment 50 Proposal for a decision Article 1 – paragraph 1 – point 5 g (new) Decision No 466/2014/EU Article 18 – paragraph 2 a (new) | |||||||||||||||||||||||||||||||||||||
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Amendment 51 Proposal for a decision Article 1 – paragraph 1 – point 5 h (new) Decision No 466/2014/EU Article 18 – paragraph 3 | |||||||||||||||||||||||||||||||||||||
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Amendment 52 Proposal for a decision Article 1 – paragraph 1 – point 5 i (new) Decision No 466/2014/EU Article 18 – paragraph 5 | |||||||||||||||||||||||||||||||||||||
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Amendment 53 Proposal for a decision Annex I Decision No 466/2014/EU Annex I – paragraph -1 (new) | |||||||||||||||||||||||||||||||||||||
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Amendment 54 Proposal for a decision Annex I Decision No 466/2014/EU Annex 1 – point B – introductory part | |||||||||||||||||||||||||||||||||||||
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Amendment 55 Proposal for a decision Annex I Decision No 466/2014/EU Annex I – point B – point i | |||||||||||||||||||||||||||||||||||||
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Amendment 56 Proposal for a decision Annex I Decision No 466/2014/EU Annex 1 – point B – point ii | |||||||||||||||||||||||||||||||||||||
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Amendment 57 Proposal for a decision Annex I Decision No 466/2014/EU Annex I – point C – introductory part | |||||||||||||||||||||||||||||||||||||
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Amendment 58 Proposal for a decision Annex I Decision No 466/2014/EU Annex I – point C – point i | |||||||||||||||||||||||||||||||||||||
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Amendment 59 Proposal for a decision Annex I Decision No 466/2014/EU Annex I – point C – point ii | |||||||||||||||||||||||||||||||||||||
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Amendment 60 Proposal for a decision Annex I Decision No 466/2014/EU Annex I – point C – point iii | |||||||||||||||||||||||||||||||||||||
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Amendment 61 Proposal for a decision Annex I Decision No 466/2014/EU Annex I – point D – paragraph 1 | |||||||||||||||||||||||||||||||||||||
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Amendment 62 Proposal for a decision Article 1 a (new) | |||||||||||||||||||||||||||||||||||||
Text proposed by the Commission |
Amendment | ||||||||||||||||||||||||||||||||||||
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Article 1 a | ||||||||||||||||||||||||||||||||||||
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Transitional provision | ||||||||||||||||||||||||||||||||||||
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The EIB may finance projects for the private sector lending mandate before the entry into force of this Decision and the conclusion of a guarantee agreement between the Commission and the EIB. Such projects may be included within the EU guarantee coverage, subject to confirmation by the Commission of the respect of the terms to be agreed in the guarantee agreement. |
OPINION of the Committee on Development(*) (24.3.2017)
for the Committee on Budgets
on the proposal for a decision of the European Parliament and of the Council amending Decision No 466/2014/EU granting an EU guarantee to the European Investment Bank against losses under financing operations supporting investment projects outside the Union
(COM(2016)0583 – C8‑0376/2016 – 2016/0275(COD))
Rapporteur (*): Nirj Deva
(*) Associated committee – Rule 54 of the Rules of Procedure
SHORT JUSTIFICATION
As the biggest multilateral lender by volume in the world, the EIB is increasingly active outside the EU, investing in projects that promote sustainable development and inclusive economic growth, guided by EU external policy objectives, therefore becoming an integral part of the External Investment Plan (EIP).
Unprecedented challenges continue to stretch the capacity of the external mandate, leaving a limited operational margin in Asia, South Africa, Central Asia, Eastern Europe, foreseen to be reduced even further under the Commission’s proposed ELM ceiling. The EIB’s presence in Asia and Latin America and South Africa would be cut by 50% compared to its current levels, while the bank’s activity in the Eastern Neighbourhood would see a significant decline.
The Rapporteur welcomes the EIB Resilience Package, but believes that an additional EUR 3 530 000 000 beyond the Commission proposal would allow the EIB to maintain its external activities at current levels, beyond the neighbouring countries currently affected by the migration and refugee crisis.
The EIP can develop to be an incredible catalyst to sustainable growth and job creation. It provides a coherent framework to promote investment, encourage public-private partnerships and support MSMEs, by leveraging funds from the EU, its Member States (MS) and other donors and financing from Financing Institutions (FIs) and the private sector.
The Rapporteur believes that the European Commission and the EIB should maintain more of a long-term focus on sustainable development, job creation and growth, rather than investing most of its energy in tackling the response to the refugee and migration crisis. Low-income and middle-income countries are at the centre of the refugee crisis. A large majority of forcibly displaced people live in developing countries which host 89 percent of refugees and 99 percent of internally displaced persons.[1]
As such, a clear distinction must be made between a long-term development agenda, in the context of the Sustainable Development Goals, which includes addressing the root causes of migration and the short-term perspective of helping refugees and host communities in crisis-affected areas, as intended by Building Block 3 of the EIB Resilience Package.
The Rapporteur further believes that it is vital to support SMEs to transition into the formal sector and have better access to credit. Taking into account that 70% of all MSMEs in emerging markets lack access to credit, improving SMEs’ access to finance and finding solutions to unlock sources of capital is crucial to enable this potentially dynamic sector to grow and provide the needed jobs.
AMENDMENTS
The Committee on Development calls on the Committee on Budgets, as the committee responsible, to take into account the following amendments:
Amendment 1 Proposal for a decision Recital 1 | ||||||||||||||||||||||||||||
Text proposed by the Commission |
Amendment | |||||||||||||||||||||||||||
(1) The international community faces an unprecedented refugee crisis which requires solidarity, efficient mobilisation of financial resources and the need to confront and surmount the existing challenges in a concerted manner. All actors need to work together to apply sustained, medium and long-term policies and an efficient use of existing processes and programmes in order to support initiatives which contribute to addressing root causes of migration. |
(1) The international community faces an unprecedented migration and refugee crisis which requires solidarity, efficient mobilisation of financial resources and the need to confront and surmount the existing challenges in a concerted manner. All actors need to work together to apply sustained, medium and long-term policies and an efficient use of existing programmes in order to engineer and support initiatives, which contribute to the Sustainable Development Goals (SDGs) and to address root causes of migratory pressures stemming from poverty, inequality, demographic growth, lack of employment and economic opportunities, climate change and the long-term consequences of forced displacement. | |||||||||||||||||||||||||||
Amendment 2 Proposal for a decision Recital 1 a (new) | ||||||||||||||||||||||||||||
Text proposed by the Commission |
Amendment | |||||||||||||||||||||||||||
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(1a) All attempts to link development finance with border control, management of migratory flows or readmission agreements should be avoided. | |||||||||||||||||||||||||||
Amendment 3 Proposal for a decision Recital 2 | ||||||||||||||||||||||||||||
Text proposed by the Commission |
Amendment | |||||||||||||||||||||||||||
(2) A new results-oriented partnership framework with third countries which takes account of all Union policies and instruments should be developed. As part of that new partnership framework, the External Investment Plan should be established in order to support investments in regions outside the Union, while contributing to the achievement of the sustainable development goal. It should also fulfil the objectives of the 2030 Agenda for Sustainable Development and the objectives pursued by the other financing instruments for external action. |
(2) A new results-oriented partnership framework with third countries, aligned with the principles of development effectiveness, which takes account of all Union policies and instruments should be developed. As part of that new partnership framework, the External Investment Plan should be established in order to boost sustainable investments, which aim to achieve SDGs in regions outside the Union, while partnering with the Union and local private sector and contributing to the achievement of the SDGs. It should also fulfil the objectives of the 2030 Agenda for Sustainable Development, the Addis Ababa Action Agenda, including the promotion of domestic resources mobilisation and the objectives pursued by the other financing instruments for external action. The more and the faster a country progresses in its internal reforms to the building and consolidation of democratic institutions, the respect for human rights and the rule of law, the more support it should receive from the Union. Such a positive conditionality approach can bring real change and would guarantee that Union tax payers' money is spent in a sustainable manner; | |||||||||||||||||||||||||||
Amendment 4 Proposal for a decision Recital 9 | ||||||||||||||||||||||||||||
Text proposed by the Commission |
Amendment | |||||||||||||||||||||||||||
(9) In order to allow the ELM to respond to potential upcoming challenges and Union priorities, as well as to provide a strategic response addressing root causes of migration, the maximum ceiling for the EIB financing operations under the EU guarantee should be increased to EUR 32 300 000 000 by releasing the optional additional amount of EUR 3 000 000 000. Under the general mandate, the amount of EUR 1 400 000 000 should be earmarked for projects in the public sector directed to refugees and host communities in crisis affected areas. |
(9) In order to allow the ELM to respond to potential upcoming challenges and Union priorities, as well as to provide a strategic response addressing root causes of migratory pressures stemming from poverty, inequality, demographic growth, lack of employment and economic opportunities, climate change, the maximum ceiling for the EIB financing operations under the EU guarantee should be increased to EUR 38 470 000 000. Under the general mandate, the amount of EUR 1 400 000 000 should be earmarked for projects in the public sector directed towards the development of economic and social infrastructure in partner countries, transit and host communities, with a focus on job creation and sustainability. | |||||||||||||||||||||||||||
Amendment 5 Proposal for a decision Recital 10 | ||||||||||||||||||||||||||||
Text proposed by the Commission |
Amendment | |||||||||||||||||||||||||||
(10) Under the new private sector lending mandate, the maximum amount of EUR 2 300 000 000 should be dedicated to projects addressing root causes of migration within the maximum increased ceiling and should benefit from the Comprehensive Guarantee by the Union. |
(10) Under the new private sector lending mandate, the maximum amount of EUR 2 300 000 000 should be dedicated to projects addressing root causes of migration and contributing to the long-term economic resilience of host and transit communities, within the maximum increased ceiling and should benefit from the Comprehensive Guarantee by the Union. | |||||||||||||||||||||||||||
Amendment 6 Proposal for a decision Recital 10 a (new) | ||||||||||||||||||||||||||||
Text proposed by the Commission |
Amendment | |||||||||||||||||||||||||||
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(10 a) As one of the EIB's main objectives under the ELM, support for MSMEs and local private sector development requires a concerted effort for EIB operations to be focused on improving MSMEs' access to finance and credit, providing technical assistance, promoting entrepreneurship and ensuring the adequate provision of financial services to households and firms, to enable MSMEs to make an easier transition from the volatile informal economy to the formal sector. EIB financing operations should also seek to strongly support small investment projects run by MSMEs, further facilitating the internationalisation of MSMEs, especially in remote rural areas and in particular in the field of drinking water treatment, wastewater disposal as well as renewable energy. | |||||||||||||||||||||||||||
Amendment 7 Proposal for a decision Recital 10 b (new) | ||||||||||||||||||||||||||||
Text proposed by the Commission |
Amendment | |||||||||||||||||||||||||||
|
(10b) A revision of the external lending mandate to ensure its alignment with development effectiveness principles and the SDGs should be carried out. | |||||||||||||||||||||||||||
Amendment 8 Proposal for a decision Recital 11 | ||||||||||||||||||||||||||||
Text proposed by the Commission |
Amendment | |||||||||||||||||||||||||||
(11) Addressing root causes of migration should be added as a new objective of the mandate. |
(11) Addressing root causes of migration and contributing to long-term sustainable development should be added as a new objective of the mandate; projects financed under the new objective should, in principle, fulfil the criteria for Official Development Assistance (ODA) established by the Development Assistance Committee (DAC) of the OECD and should be in compliance with Article 208 of the Treaty on the Functioning of the European Union and UN´s Guiding Principles on Business and Human Rights. | |||||||||||||||||||||||||||
Amendment 9 Proposal for a decision Recital 12 | ||||||||||||||||||||||||||||
Text proposed by the Commission |
Amendment | |||||||||||||||||||||||||||
(12) Complementarity and coordination with Union initiatives addressing root causes of migration should be ensured, including with Union support for the sustainable reintegration of returned migrants in the countries of origin. |
deleted | |||||||||||||||||||||||||||
Amendment 10 Proposal for a decision Recital 13 | ||||||||||||||||||||||||||||
Text proposed by the Commission |
Amendment | |||||||||||||||||||||||||||
(13) Following the Paris Agreement adopted under the United Nations Framework Convention on Climate Change4 , the EIB should aim to sustain the current high level of climate relevant spending under the ELM, contributing to increasing its climate-related investment in developing countries from 25 % to 35 % by 2020. |
(13) Following the Paris Agreement adopted under the United Nations Framework Convention on Climate Change4 , the EIB should aim to increase the current high level of climate relevant spending under the ELM, contributing to increasing its climate-related investment in developing countries from 25 % to 35 % by 2020, in accordance with the commitment taken in its climate strategy. The EIB should take into account the conclusions of the European Council of 22 May 2013 to phase out environmentally or economically harmful subsidies, including those for fossil fuels. | |||||||||||||||||||||||||||
_________________ |
_________________ | |||||||||||||||||||||||||||
4 Council Decision (EU) 2016/590 of 11 April 2016 on the conclusion, on behalf of the European Union, of the Paris Agreement adopted under the United Nations Framework Convention on Climate Change (OJ L 103, 19.4.2016, p. 1). |
4 Council Decision (EU) 2016/590 of 11 April 2016 on the conclusion, on behalf of the European Union, of the Paris Agreement adopted under the United Nations Framework Convention on Climate Change (OJ L 103, 19.4.2016, p. 1). | |||||||||||||||||||||||||||
Justification | ||||||||||||||||||||||||||||
In its climate strategy adopted at the end of 2015, the EIB took the commitment to raise its level of climate action projects in developing countries up to 35% by the end of 2020. This announcement should be reflected in its External Mandate. Likewise, conclusions of the European Council of 22 May 2013 should be fully reflected in Europe's external lending activities. | ||||||||||||||||||||||||||||
Amendment 11 Proposal for a decision Recital 15 | ||||||||||||||||||||||||||||
Text proposed by the Commission |
Amendment | |||||||||||||||||||||||||||
(15) The EIB should develop and implement a set of indicators in its Results Measurement framework for projects in the public sector and in the private sector directed to refugees and host communities. Therefore, an assessment of the contribution of EIB financing operations addressing root causes of migration should be included in the Commission's annual reporting to the European Parliament and to the Council on EIB financing operations. |
(15) The EIB should develop and implement a set of indicators in its Results Measurement framework for projects in the public sector and in the private sector addressing root causes of migration and the long-term economic resilience of host and transit communities. Therefore, an assessment of the contribution of EIB financing operations towards these objectives, notably contribution to SDGs, the involvement of local civil society, and the alignment with Union external priorities and Union budget priorities must be included in the Commission's annual reporting to the European Parliament and to the Council on EIB financing operations. The EIB should take all necessary steps to consolidate its accountability to the European Parliament, through transparency and access to information, by publishing the results, evaluations and impact appraisals of projects on a systematic basis via the Results Measurement Framework. | |||||||||||||||||||||||||||
Amendment 12 Proposal for a decision Recital 16 | ||||||||||||||||||||||||||||
Text proposed by the Commission |
Amendment | |||||||||||||||||||||||||||
(16) Only where it concerns the need to address urgencies and crisis situations that could arise within the mandate period and which are recognised as Union external policy priorities, the ceiling for reallocation between the regions by the EIB in the course of the mandate should be increased from 10 % to 20 %. The private sector mandate of EUR 2 300 000 000 and the amount of EUR 1 400 000 000 dedicated to public sector projects cannot be reallocated because its purpose is to address root causes of migration. |
(16) Only where it concerns the need to address urgencies and crisis situations that could arise within the mandate period and which are recognised as Union external policy priorities, the ceiling for reallocation between the regions by the EIB in the course of the mandate should be increased from 10 % to 20 %. The EIB should notify the European Parliament of any reallocation decision by providing a justification report and an impact assessment. The private sector mandate of EUR 2 300 000 000 and the amount of EUR 1 400 000 000 dedicated to public sector projects under the EIB Resilience Initiative should be absorbed completely for its purpose and should not be reallocated. | |||||||||||||||||||||||||||
Amendment 13 Proposal for a decision Article 1 – paragraph 1 – point 1 Decision No 466/2014/EU Article 2 – paragraph 1 – subparagraph 1 | ||||||||||||||||||||||||||||
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Justification | ||||||||||||||||||||||||||||
The suggested increase is required if the EIB is to contribute to the full range of EU policies and priorities, including Ukraine and further newly eligible countries. | ||||||||||||||||||||||||||||
Amendment 14 Proposal for a decision Article 1 – paragraph 1 – point 1 Decision No 466/2014/EU Article 2 – paragraph 1 – subparagraph 2 – point a | ||||||||||||||||||||||||||||
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Amendment 15 Proposal for a decision Article 1 – paragraph 1 – point 1 Decision No 466/2014/EU Article 2 – paragraph 1 – subparagraph 2 – point b | ||||||||||||||||||||||||||||
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Amendment 16 Proposal for a decision Article 1 – paragraph 1 – point 2 – point a Regulation (EC, Euratom) No 480/2009 Article 3 – paragraph 1 – point d | ||||||||||||||||||||||||||||
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Amendment 17 Proposal for a decision Article 1 – paragraph 1 – point 2 – point a a (new) Decision No 466/2014/EU Article 3 – paragraph 4 | ||||||||||||||||||||||||||||
| ||||||||||||||||||||||||||||
(http://eur-lex.europa.eu/legal-content/EN/TXT/PDF/?uri=CELEX:02014D0466-20160926&qid=1486646836381&from=FR) | ||||||||||||||||||||||||||||
Amendment 18 Proposal for a decision Article 1 – paragraph 1 – point 2 – point b Decision No 466/2014/EU Article 3 – paragraph 5 – subparagraph 1 | ||||||||||||||||||||||||||||
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Amendment 19 Proposal for a decision Article 1 – paragraph 1 – point 2 – point c Decision No 466/2014/EU Article 3 – paragraph 7 – subparagraph 3 | ||||||||||||||||||||||||||||
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Amendment 20 Proposal for a decision Article 1 – paragraph 1 – point 2 – point c Decision No 466/2014/EU Article 3 – paragraph 8 – subparagraph 1 | ||||||||||||||||||||||||||||
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Amendment 21 Proposal for a decision Article 1 – paragraph 1 – point 2 – point c a (new) Decision No 466/2014/EU Article 3 – paragraph 9 | ||||||||||||||||||||||||||||
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(http://eur-lex.europa.eu/legal-content/EN/TXT/?qid=1488449786444&uri=CELEX:02014D0466-20160926) | ||||||||||||||||||||||||||||
Justification | ||||||||||||||||||||||||||||
The Framework agreements concluded between the EIB and a recipient country includes among others provisions on taxation, currency convertibility, transfer of funds, custom and fiscal treatment of projects, tendering and treatment of bank’s representatives. Accordingly, the framework agreements should include provisions referring to obligations in environmental, social, human rights and labour matters. | ||||||||||||||||||||||||||||
Amendment 22 Proposal for a decision Article 1 – paragraph 1 – point 3 a (new) Decision No 466/2014/EU Article 9 – paragraph 1 – subparagraph 1 a (new) | ||||||||||||||||||||||||||||
| ||||||||||||||||||||||||||||
(http://eur-lex.europa.eu/legal-content/EN/TXT/HTML/?uri=CELEX:02014D0466-20160926&qid=1488388409292&from=EN) | ||||||||||||||||||||||||||||
Justification | ||||||||||||||||||||||||||||
In 2007, the UN General Assembly adopted the United Nations Declaration on the Rights of Indigenous Peoples, recognizing their rights and making specific mention of Free, Prior and Informed Consent (FPIC) as a pre-requisite for any activity that affects their ancestral lands, territories and natural resources. Such principle should also be respected in EIB’s operations. | ||||||||||||||||||||||||||||
Amendment 23 Proposal for a decision Article 1 – paragraph 1 – point 3 b (new) Decision No 466/2014/EU Article 9 – paragraph 1 – subparagraph 1 b (new) | ||||||||||||||||||||||||||||
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Amendment 24 Proposal for a decision Article 1 – paragraph 1 – point 5 – point a Decision No 466/2014/EU Article 11 – paragraph 1 – point b | ||||||||||||||||||||||||||||
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Amendment 25 Proposal for a decision Article 1 – paragraph 1 – point 5 – point a a (new) Decision No 466/2014/EU Article 11 – paragraph 1 – point c | ||||||||||||||||||||||||||||
| ||||||||||||||||||||||||||||
(http://eur-lex.europa.eu/legal-content/EN/TXT/?qid=1488449786444&uri=CELEX:02014D0466-20160926) | ||||||||||||||||||||||||||||
Amendment 26 Proposal for a decision Article 1 – paragraph 1 – point 5 – point b Decision No 466/2014/EU Article 11 – paragraph 1 – point j | ||||||||||||||||||||||||||||
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Amendment 27 Proposal for a decision Article 1 – paragraph 1 – point 5 a (new) Decision No 466/2014/EU Article 12 – paragraph 1 – introductory sentence | ||||||||||||||||||||||||||||
| ||||||||||||||||||||||||||||
(http://eur-lex.europa.eu/legal-content/EN/TXT/?qid=1488449786444&uri=CELEX:02014D0466-20160926) | ||||||||||||||||||||||||||||
Amendment 28 Proposal for a decision Article 1 – paragraph 1 – point 5 b (new) Decision No 466/2014/EU Article 12 – paragraph 1 – point b a (new) | ||||||||||||||||||||||||||||
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Justification | ||||||||||||||||||||||||||||
Access to information and documents covered by this guarantee should be directly based on the EU’s existing legislation on access to documents and information disclosure such as the Regulation No 1049/2001 of 30 May 2001 regarding public access to European Parliament, Council and Commission documents and Regulation No 1367/2006 of 6 September 2006 on the application of the provisions of the Aarhus Convention on Access to Information, Public Participation in Decision-making and Access to Justice in Environmental Matters to Community institutions and bodies. | ||||||||||||||||||||||||||||
Amendment 29 Proposal for a decision Annex II Decision No 466/2014/EU Annex II – point B – paragraph 2 – subparagraph 1 | ||||||||||||||||||||||||||||
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Amendment 30 Proposal for a decision Annex II Decision No 466/2014/EU Annex II – point B – paragraph 2 – subparagraph 4 | ||||||||||||||||||||||||||||
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Amendment 31 Proposal for a decision Annex II Decision No 466/2014/EU Annex II – point C – paragraph 1 – subparagraph 2 | ||||||||||||||||||||||||||||
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Amendment 32 Proposal for a decision Annex III Decision No 466/2014/EU Annex III – point B – paragraph 2 – subparagraph 1 | ||||||||||||||||||||||||||||
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Amendment 33 Proposal for a decision Annex III Decision No 466/2014/EU Annex III – point B – paragraph 2 – subparagraph 4 | ||||||||||||||||||||||||||||
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PROCEDURE – COMMITTEE ASKED FOR OPINION
Title |
EU guarantee to the European Investment Bank against losses under financing operations supporting investment projects outside the Union |
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References |
COM(2016)0583 – C8-0376/2016 – 2016/0275(COD) |
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Committee responsible Date announced in plenary |
BUDG 6.10.2016 |
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|
|
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Opinion by Date announced in plenary |
DEVE 6.10.2016 |
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Rapporteur Date appointed |
Nirj Deva 16.12.2016 |
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Discussed in committee |
28.2.2017 |
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|
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Date adopted |
21.3.2017 |
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Result of final vote |
+: –: 0: |
19 5 0 |
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Members present for the final vote |
Raymond Finch, Doru-Claudian Frunzulică, Enrique Guerrero Salom, Maria Heubuch, György Hölvényi, Teresa Jiménez-Becerril Barrio, Arne Lietz, Linda McAvan, Norbert Neuser, Maurice Ponga, Lola Sánchez Caldentey, Eleni Theocharous, Paavo Väyrynen, Bogdan Brunon Wenta, Anna Záborská, Željana Zovko |
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Substitutes present for the final vote |
Agustín Díaz de Mera García Consuegra, Frank Engel, Cécile Kashetu Kyenge, Florent Marcellesi, Louis Michel, Jan Zahradil |
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Substitutes under Rule 200(2) present for the final vote |
Tania González Peñas, Martina Werner |
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FINAL VOTE BY ROLL CALL IN COMMITTEE ASKED FOR OPINION
19 |
+ |
|
ALDE |
Louis Michel, Paavo Väyrynen |
|
ECR |
Eleni Theocharous, Jan Zahradil |
|
PPE |
Agustín Díaz de Mera García Consuegra, Frank Engel, György Hölvényi, Teresa Jiménez-Becerril Barrio, Maurice Ponga, Bogdan Brunon Wenta, Željana Zovko, Anna Záborská |
|
S&D |
Doru-Claudian Frunzulică, Enrique Guerrero Salom, Cécile Kashetu Kyenge, Arne Lietz, Linda McAvan, Norbert Neuser, Martina Werner |
|
5 |
- |
|
EFDD |
Raymond Finch |
|
GUE/NGL |
Tania González Peñas, Lola Sánchez Caldentey |
|
VERTS/ALE |
Maria Heubuch, Florent Marcellesi |
|
0 |
0 |
|
|
|
|
Key to symbols:
+ : in favour
- : against
0 : abstention
- [1] Forcibly Displaced - Toward a development approach supporting refugees, the internally displaced, and their hosts ADVANCE EDITION, The World Bank, 2016, p.3 https://openknowledge.worldbank.org/bitstream/handle/10986/25016/9781464809385.pdf?sequence=2&isAllowed=y
OPINION of the Committee on Foreign Affairs (22.3.2017)
for the Committee on Budgets
on the proposal for a decision of the European Parliament and of the Council amending Decision No 466/2014/EU granting an EU guarantee to the European Investment Bank against losses under financing operations supporting investment projects outside the Union
(COM(2016)0583 – C8‑0376/2016 – 2016/0275(COD))
Rapporteur: Eduard Kukan
SHORT JUSTIFICATION
The Commission proposal aims at expanding the External Lending Mandate of the European Investment Bank (EIB) both quantitatively and qualitatively, in particular with the objective of stepping up activities in the Southern Neighbourhood and Western Balkans and contributing to the new External Investment Plan.
The Rapporteur welcomes this proposal, but considers that it needs to be accompanied with an adequate increase of the ceiling for EIB financing operations under EU guarantee to avoid that existing priority operations need to be discontinued. This is above all the case of EIB activities in Ukraine where it is estimated that lending at current levels would exhaust the proposed envelope already before mid-2018.
The Rapporteur supports greater strategic focus on the root causes of migration as well as projects to support host communities in the priority regions. More clarity is however needed in the proposal as to distinguishing between these different objectives and the amounts earmarked for them.
The Rapporteur also supports the idea to give the EIB the possibility to finance projects under the new private sector lending mandate before entry into force of this Decision (so-called “warehousing”).
It is also the Rapporteur’s belief that the essential link between the EIB operations and EU external policy should be further strengthened. In particular, the country distribution within the regional ceilings should fully reflect external policy priorities and constraints and should be defined in consultation with the European External Action Service.
Furthermore, transparency should be improved with regard to EIB projects financed through financial intermediaries.
AMENDMENTS
The Committee on Foreign Affairs calls on the Committee on Budgets, as the committee responsible, to take into account the following amendments:
Amendment 1 Proposal for a decision Recital 1 | ||||||||||||||||
Text proposed by the Commission |
Amendment | |||||||||||||||
(1) The international community faces an unprecedented refugee crisis which requires solidarity, efficient mobilisation of financial resources and the need to confront and surmount the existing challenges in a concerted manner. All actors need to work together to apply sustained, medium and long-term policies and an efficient use of existing processes and programmes in order to support initiatives which contribute to addressing root causes of migration. |
(1) The international community faces an unprecedented migration and refugee crisis which requires solidarity, efficient mobilisation of financial resources and the need to confront and surmount the existing challenges in a concerted manner. All actors need to work together to apply sustained, medium and long-term policies and an efficient use of existing processes and programmes in order to support initiatives which contribute to addressing root causes of migration and building the resilience of transit and host communities. | |||||||||||||||
Amendment 2 Proposal for a decision Recital 9 | ||||||||||||||||
Text proposed by the Commission |
Amendment | |||||||||||||||
(9) In order to allow the ELM to respond to potential upcoming challenges and Union priorities, as well as to provide a strategic response addressing root causes of migration, the maximum ceiling for the EIB financing operations under the EU guarantee should be increased to EUR 32 300 000 000 by releasing the optional additional amount of EUR 3 000 000 000. Under the general mandate, the amount of EUR 1 400 000 000 should be earmarked for projects in the public sector directed to refugees and host communities in crisis affected areas. |
(9) In order to allow the ELM to maintain current levels of support for Union priorities as outlined in the Global Strategy on the European Union's Foreign and Security Policy ('EU Global Strategy'), respond to potential upcoming challenges and provide a strategic response addressing root causes of migration, the maximum ceiling for the EIB financing operations under the EU guarantee should be increased to EUR 36 300 000 000, inter alia by releasing the optional additional amount of EUR 3 000 000 000. Under the general mandate, the amount of EUR 1 400 000 000 should be earmarked for projects in the public sector aimed at enhancing resilience of migrants, refugees and transit and host communities. | |||||||||||||||
Amendment 3 Proposal for a decision Recital 9 a (new) | ||||||||||||||||
Text proposed by the Commission |
Amendment | |||||||||||||||
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(9 a) While addressing root causes of the migration and refugee crisis is paramount, that should not come at the cost of policies in other areas of key strategic priority as outlined in the EU Global Strategy. | |||||||||||||||
Amendment 4 Proposal for a decision Recital 10 a (new) | ||||||||||||||||
Text proposed by the Commission |
Amendment | |||||||||||||||
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(10 a) Given the need for the swift implementation of the EIB Resilience Initiative, the EIB should be able to warehouse projects under the private sector lending mandate, subject to conditions to be agreed between the Commission and the EIB. | |||||||||||||||
Amendment 5 Proposal for a decision Recital 11 | ||||||||||||||||
Text proposed by the Commission |
Amendment | |||||||||||||||
(11) Addressing root causes of migration should be added as a new objective of the mandate. |
(11) Addressing root causes of migration and building resilience of transit and host communities should be added as a new objective of the mandate and should be pursued in full compliance with Article 21 of the Treaty on European Union (TEU). The EIB should carry out thorough due diligence and project monitoring in order to ensure compliance and it should maintain a complaints mechanism accessible to all stakeholders. The compliance with Article 21 TEU, including on the respect of human rights, the eradication of poverty and the management of environmental risks, should be assessed by the Commission in its annual reporting. | |||||||||||||||
Amendment 6 Proposal for a decision Recital 13 | ||||||||||||||||
Text proposed by the Commission |
Amendment | |||||||||||||||
(13) Following the Paris Agreement adopted under the United Nations Framework Convention on Climate Change4 , the EIB should aim to sustain the current high level of climate relevant spending under the ELM, contributing to increasing its climate-related investment in developing countries from 25 % to 35 % by 2020. |
(13) Following the Paris Agreement adopted under the United Nations Framework Convention on Climate Change4 , the EIB should aim to increase the current level of climate relevant spending under the ELM, contributing to increasing its climate-related investment in developing countries from 25 % to 35 % by 2020, in accordance with the commitment taken as part of its climate strategy. | |||||||||||||||
_________________ |
_________________ | |||||||||||||||
4 Council Decision (EU) 2016/590 of 11 April 2016 on the conclusion, on behalf of the European Union, of the Paris Agreement adopted under the United Nations Framework Convention on Climate Change (OJ L 103, 19.4.2016, p. 1). |
4 Council Decision (EU) 2016/590 of 11 April 2016 on the conclusion, on behalf of the European Union, of the Paris Agreement adopted under the United Nations Framework Convention on Climate Change (OJ L 103, 19.4.2016, p. 1). | |||||||||||||||
Amendment 7 Proposal for a decision Recital 15 | ||||||||||||||||
Text proposed by the Commission |
Amendment | |||||||||||||||
(15) The EIB should develop and implement a set of indicators in its Results Measurement framework for projects in the public sector and in the private sector directed to refugees and host communities. Therefore, an assessment of the contribution of EIB financing operations addressing root causes of migration should be included in the Commission's annual reporting to the European Parliament and to the Council on EIB financing operations. |
(15) The EIB should develop and implement a set of indicators in its Results Measurement framework for projects in the public sector and in the private sector addressing root causes of migration and enhancing resilience of migrants, refugees and transit and host communities. Therefore, an assessment of the contribution of EIB financing operations towards those objectives should be included in the Commission's annual reporting to the European Parliament and to the Council on EIB financing operations. | |||||||||||||||
Amendment 8 Proposal for a decision Recital 15 a (new) | ||||||||||||||||
Text proposed by the Commission |
Amendment | |||||||||||||||
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(15 a) Greater visibility and transparency of EIB operations under the ELM should be ensured, in particular with regard to sub-projects financed through financial intermediaries, improving access to information for the institutions of the Union and for the general public. | |||||||||||||||
Amendment 9 Proposal for a decision Recital 16 | ||||||||||||||||
Text proposed by the Commission |
Amendment | |||||||||||||||
(16) Only where it concerns the need to address urgencies and crisis situations that could arise within the mandate period and which are recognised as Union external policy priorities, the ceiling for reallocation between the regions by the EIB in the course of the mandate should be increased from 10 % to 20 %. The private sector mandate of EUR 2 300 000 000 and the amount of EUR 1 400 000 000 dedicated to public sector projects cannot be reallocated because its purpose is to address root causes of migration. |
(16) Only where it concerns the need to address urgencies and crisis situations that could arise within the mandate period and which are recognised as Union external policy priorities, the ceiling for reallocation between the regions by the EIB in the course of the mandate should be increased from 10 % to 20 %. The private sector mandate of EUR 2 300 000 000 and the amount of EUR 1 400 000 000 dedicated to public sector projects under the EIB Resilience Initiative should be absorbed completely for its purpose and should not be reallocated. | |||||||||||||||
Amendment 10 Proposal for a decision Recital 17 | ||||||||||||||||
Text proposed by the Commission |
Amendment | |||||||||||||||
(17) The list of eligible regions and countries and potentially eligible regions and countries should be modified in order to exclude high income countries with high credit rating (Brunei, Iceland, Israel, Singapore, Chile and South Korea). In addition, Iran is to be added to the list of potentially eligible regions and countries. |
(17) The list of eligible regions and countries and potentially eligible regions and countries should be modified in order to exclude high income countries with high credit rating (Brunei, Iceland, Israel, Singapore, Chile and South Korea). In addition, Russia is to be removed from the list of eligible regions and countries and Iran is to be added to the list of potentially eligible regions and countries. | |||||||||||||||
Amendment 11 Proposal for a decision Article 1 – paragraph 1 – point 1 Decision No 466/2014/EU Article 2 – paragraph 1 – subparagraph 1 | ||||||||||||||||
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Amendment 12 Proposal for a decision Article 1 – paragraph 1 – point 1 Decision No 466/2014/EU Article 2 – paragraph 1 – subparagraph 2 – point a | ||||||||||||||||
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Amendment 13 Proposal for a decision Article 1 – paragraph 1 – point 1 Decision No 466/2014/EU Article 2 – paragraph 1 – subparagraph 2 – point b | ||||||||||||||||
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Amendment 14 Proposal for a decision Article 1 – paragraph 1 – point 1 Decision No 466/2014/EU Article 2 – paragraph 2 | ||||||||||||||||
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Amendment 15 Proposal for a decision Article 1 – paragraph 1 – point 2 – point a Decision No 466/2014/EU Article 3 – paragraph 1 – point d | ||||||||||||||||
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Amendment 16 Proposal for a decision Article 1 – paragraph 1 – point 2 – point b Decision No 466/2014/EU Article 3 – paragraph 5 – subparagraph 1 | ||||||||||||||||
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Amendment 17 Proposal for a decision Article 1 – paragraph 1 – point 2 – point c Decision No 466/2014/EU Article 3 – paragraph 7 – subparagraph 1 | ||||||||||||||||
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Amendment 18 Proposal for a decision Article 1 – paragraph 1 – point 3 a (new) Decision No 466/2014/EU Article 9 – paragraph 3 | ||||||||||||||||
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(http://eur-lex.europa.eu/legal-content/EN/TXT/HTML/?uri=CELEX:32014D0466&qid=1487606632536&from=EN) | ||||||||||||||||
Amendment 19 Proposal for a decision Article 1 – paragraph 1 – point 5 – point a Decision No 466/2014/EU Article 11 – paragraph 1 – point b | ||||||||||||||||
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Amendment 20 Proposal for a decision Article 1 – paragraph 1 – point 5 – point a a (new) Decision No 466/2014/EU Article 11 – paragraph 1 – point e | ||||||||||||||||
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(http://eur-lex.europa.eu/legal-content/EN/TXT/HTML/?uri=CELEX:32014D0466&qid=1487606632536&from=EN) | ||||||||||||||||
Amendment 21 Proposal for a decision Article 1 – paragraph 1 – point 5 – point b Decision No 466/2014/EU Article 11 – paragraph 1 – point j | ||||||||||||||||
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Amendment 22 Proposal for a decision Article 1 – paragraph 1 – point 5 a (new) Decision No 466/2014/EU Article 12 – paragraph 1 – point a | ||||||||||||||||
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Amendment 23 Proposal for a decision Article 1 – paragraph 1 – point 5 b (new) Decision No 466/2014/EU Article 13 – subparagraph 2 | ||||||||||||||||
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(http://eur-lex.europa.eu/legal-content/EN/TXT/HTML/?uri=CELEX:32014D0466&qid=1487606632536&from=EN) | ||||||||||||||||
Amendment 24 Proposal for a decision Article 1 – paragraph 1 – point 6 Decision No 466/2014/EU Article 20 – paragraph -1 (new) | ||||||||||||||||
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Amendment 25 Proposal for a decision Article 1 a (new) | ||||||||||||||||
Text proposed by the Commission |
Amendment | |||||||||||||||
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Article 1 a | |||||||||||||||
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Transitional provision | |||||||||||||||
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The EIB may finance projects for the private sector lending mandate before the entry into force of this Decision and the conclusion of a guarantee agreement between the Commission and the EIB. Such projects may be included within the EU guarantee coverage, subject to confirmation by the Commission of the respect of the terms to be agreed in the guarantee agreement. | |||||||||||||||
Amendment 26 Proposal for a decision Annex I – point B – introductory part | ||||||||||||||||
Text proposed by the Commission |
Amendment | |||||||||||||||
B. Neighbourhood and Partnership countries: EUR 18 374 000 000, broken down into the following sub-ceilings: |
B. Neighbourhood and Partnership countries: EUR 21 904 000 000, broken down into the following sub-ceilings: | |||||||||||||||
Amendment 27 Proposal for a decision Annex I – point B – point ii | ||||||||||||||||
Text proposed by the Commission |
Amendment | |||||||||||||||
(ii) Eastern Europe, Southern Caucasus and Russia: EUR 6 008 000 000; |
(ii) Eastern Europe, Southern Caucasus and Russia: EUR 9 538 000 000; | |||||||||||||||
Amendment 28 Proposal for a decision Annex I – point C – introductory part | ||||||||||||||||
Text proposed by the Commission |
Amendment | |||||||||||||||
C. Asia and Latin America: EUR 3 785 000 000, broken down into the following sub-ceilings: |
C. Asia and Latin America: EUR 4 255 000 000, broken down into the following sub-ceilings: | |||||||||||||||
Amendment 29 Proposal for a decision Annex I – point C – point ii | ||||||||||||||||
Text proposed by the Commission |
Amendment | |||||||||||||||
(ii) Asia: EUR 1 040 000 000; |
(ii) Asia: EUR 1 510 000 000; | |||||||||||||||
Amendment 30 Proposal for a decision Annex III – point B – point 2 – subparagraph 4 | ||||||||||||||||
Text proposed by the Commission |
Amendment | |||||||||||||||
Russia |
deleted |
PROCEDURE – COMMITTEE ASKED FOR OPINION
Title |
EU guarantee to the European Investment Bank against losses under financing operations supporting investment projects outside the Union |
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References |
COM(2016)0583 – C8-0376/2016 – 2016/0275(COD) |
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Committee responsible Date announced in plenary |
BUDG 6.10.2016 |
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Opinion by Date announced in plenary |
AFET 6.10.2016 |
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Rapporteur Date appointed |
Eduard Kukan 2.12.2016 |
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Discussed in committee |
9.2.2017 |
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Date adopted |
21.3.2017 |
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Result of final vote |
+: –: 0: |
39 8 4 |
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Members present for the final vote |
Lars Adaktusson, Francisco Assis, Bas Belder, Goffredo Maria Bettini, Victor Boştinaru, Klaus Buchner, James Carver, Fabio Massimo Castaldo, Javier Couso Permuy, Andi Cristea, Arnaud Danjean, Anna Elżbieta Fotyga, Eugen Freund, Michael Gahler, Iveta Grigule, Sandra Kalniete, Manolis Kefalogiannis, Tunne Kelam, Andrey Kovatchev, Ryszard Antoni Legutko, Arne Lietz, Sabine Lösing, Ulrike Lunacek, Andrejs Mamikins, Ramona Nicole Mănescu, Alex Mayer, David McAllister, Francisco José Millán Mon, Demetris Papadakis, Ioan Mircea Paşcu, Tonino Picula, Julia Pitera, Jozo Radoš, Jordi Solé, Jaromír Štětina, Dubravka Šuica, Charles Tannock, László Tőkés, Geoffrey Van Orden, Boris Zala |
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Substitutes present for the final vote |
Neena Gill, Marek Jurek, José Ignacio Salafranca Sánchez-Neyra, Marietje Schaake, Helmut Scholz, Eleni Theocharous, Traian Ungureanu, Bodil Valero |
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Substitutes under Rule 200(2) present for the final vote |
Heidi Hautala, Romana Tomc, Ivan Štefanec |
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FINAL VOTE BY ROLL CALL IN COMMITTEE ASKED FOR OPINION
39 |
+ |
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ALDE |
Iveta Grigule, Jozo Radoš, Marietje Schaake |
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PPE |
Lars Adaktusson, Arnaud Danjean, Michael Gahler, Sandra Kalniete, Manolis Kefalogiannis, Tunne Kelam, Andrey Kovatchev, David McAllister, Francisco José Millán Mon, Ramona Nicole Mănescu, Julia Pitera, José Ignacio Salafranca Sánchez-Neyra, Romana Tomc, László Tőkés, Traian Ungureanu, Ivan Štefanec, Jaromír Štětina, Dubravka Šuica |
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S&D |
Francisco Assis, Goffredo Maria Bettini, Victor Boştinaru, Andi Cristea, Eugen Freund, Neena Gill, Arne Lietz, Andrejs Mamikins, Alex Mayer, Demetris Papadakis, Ioan Mircea Paşcu, Tonino Picula, Boris Zala |
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Verts/ALE |
Klaus Buchner, Heidi Hautala, Ulrike Lunacek, Jordi Solé, Bodil Valero |
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8 |
- |
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ECR |
Bas Belder, Anna Elżbieta Fotyga, Marek Jurek, Ryszard Antoni Legutko, Eleni Theocharous, Geoffrey Van Orden |
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EFDD |
James Carver, Fabio Massimo Castaldo |
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4 |
0 |
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ECR |
Charles Tannock |
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GUE/NGL |
Javier Couso Permuy, Sabine Lösing, Helmut Scholz |
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Key to symbols:
+ : in favour
- : against
0 : abstention
OPINION of the Committee on International Trade (28.2.2017)
for the Committee on Budgets
on the proposal for a decision of the European Parliament and of the Council amending Decision No 466/2014/EU granting an EU guarantee to the European Investment Bank against losses under financing operations supporting investment projects outside the Union
(COM(2016)0583 – C8‑0376/2016 – 2016/0275(COD))
Rapporteur: Salvatore Cicu
AMENDMENTS
The Committee on International Trade calls on the Committee on Budgets, as the committee responsible, to take into account the following amendments:
Amendment 1 Proposal for a decision Recital 2 | |||||||||||||||||||||||||
Text proposed by the Commission |
Amendment | ||||||||||||||||||||||||
(2) A new results-oriented partnership framework with third countries which takes account of all Union policies and instruments should be developed. As part of that new partnership framework, the External Investment Plan should be established in order to support investments in regions outside the Union, while contributing to the achievement of the sustainable development goal. It should also fulfil the objectives of the 2030 Agenda for Sustainable Development and the objectives pursued by the other financing instruments for external action. |
(2) A new results-oriented partnership framework with third countries which takes account of all Union policies and instruments should be developed. As part of that new partnership framework, the External Investment Plan should be established in order to support investments in regions outside the Union, while contributing to inclusive and sustainable development, wealth creation and to the achievement of the Sustainable Development Goals (SDGs). It should also fulfil the objectives of the 2030 Agenda for Sustainable Development and the objectives pursued by the other financing instruments for external action. | ||||||||||||||||||||||||
Amendment 2 Proposal for a decision Recital 8 a (new) | |||||||||||||||||||||||||
Text proposed by the Commission |
Amendment | ||||||||||||||||||||||||
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(8a) The EIB has been entrusted with additional tasks, for instance in the field of European economic diplomacy. In order to be able to deliver in that regard, the EIB needs sufficient financial means. The success of the Guarantee Fund under the External Lending Mandate enables the EIB to deliver concrete results and enables an impact at Union level via sound projects in third countries at minimal cost to the Union budget. In light of growing demands on the EIB as the Union’s financial arm, it is considered important to reinforce this successful instrument and the Commission should increase the budget provisioning for the Guarantee Fund provided to the EIB at the time of the next legislative proposal covering the period 2021-2028. | ||||||||||||||||||||||||
Amendment 3 Proposal for a decision Recital 9 | |||||||||||||||||||||||||
Text proposed by the Commission |
Amendment | ||||||||||||||||||||||||
(9) In order to allow the ELM to respond to potential upcoming challenges and Union priorities, as well as to provide a strategic response addressing root causes of migration, the maximum ceiling for the EIB financing operations under the EU guarantee should be increased to EUR 32 300 000 000 by releasing the optional additional amount of EUR 3 000 000 000. Under the general mandate, the amount of EUR 1 400 000 000 should be earmarked for projects in the public sector directed to refugees and host communities in crisis affected areas. |
(9) In order to allow the ELM to respond to potential upcoming challenges and Union priorities, as well as to provide a strategic response addressing root causes of migration, the maximum ceiling for the EIB financing operations under the EU guarantee should be increased to EUR 38 500 000 000. Under the general mandate, the amount of EUR 1 400 000 000 should be earmarked for projects in the public sector directed to refugees and host communities in crisis affected areas. | ||||||||||||||||||||||||
Justification | |||||||||||||||||||||||||
The Commission proposal would have a direct and immediate impact on other pressing EU policies and priorities. De facto, it would require a significant reduction of EIB annual activity in the Eastern Neighbourhood, including Ukraine. Annual activity in the East would either have to be cut down by around 70% compared to current annual lending levels. The proposed ceilings for Asia & Latin America and South Africa would result in a 50% reduction of annual activity compared to current levels. | |||||||||||||||||||||||||
Amendment 4 Proposal for a decision Recital 11 | |||||||||||||||||||||||||
Text proposed by the Commission |
Amendment | ||||||||||||||||||||||||
(11) Addressing root causes of migration should be added as a new objective of the mandate. |
(11) Addressing root causes of migration should be added as a new objective of the mandate and every project financed under this new objective should be in compliance with Article 21 of the Treaty on European Union (TEU). | ||||||||||||||||||||||||
Amendment 5 Proposal for a decision Recital 12 | |||||||||||||||||||||||||
Text proposed by the Commission |
Amendment | ||||||||||||||||||||||||
(12) Complementarity and coordination with Union initiatives addressing root causes of migration should be ensured, including with Union support for the sustainable reintegration of returned migrants in the countries of origin. |
(12) Complementarity and coordination with Union initiatives addressing root causes of migration should be ensured, including with Union support for the sustainable reintegration of returned migrants in the countries of origin. The EIB should therefore cooperate closely with the EEAS and should be able to call upon the relevant international organisations such as the IOM and the UNHCR where necessary. | ||||||||||||||||||||||||
Amendment 6 Proposal for a decision Recital 13 | |||||||||||||||||||||||||
Text proposed by the Commission |
Amendment | ||||||||||||||||||||||||
(13) Following the Paris Agreement adopted under the United Nations Framework Convention on Climate Change, the EIB should aim to sustain the current high level of climate relevant spending under the ELM, contributing to increasing its climate-related investment in developing countries from 25 % to 35 % by 2020. |
(13) Following the Paris Agreement adopted under the United Nations Framework Convention on Climate Change, the EIB should aim to increase the current high level of climate relevant spending under the ELM, contributing to increasing its climate-related investment in developing countries from 25 % to 35 % by 2020, according to the commitment taken in its climate strategy. | ||||||||||||||||||||||||
Justification | |||||||||||||||||||||||||
In its climate strategy adopted at the end of 2015, the EIB took the commitment to raise its level of climate action projects in developing countries up to 35% by the end of 2020. This announcement should be reflected in its External Mandate. | |||||||||||||||||||||||||
Amendment 7 Proposal for a decision Recital 15 | |||||||||||||||||||||||||
Text proposed by the Commission |
Amendment | ||||||||||||||||||||||||
(15) The EIB should develop and implement a set of indicators in its Results Measurement framework for projects in the public sector and in the private sector directed to refugees and host communities. Therefore, an assessment of the contribution of EIB financing operations addressing root causes of migration should be included in the Commission's annual reporting to the European Parliament and to the Council on EIB financing operations. |
(15) The EIB should develop and implement a set of indicators in its Results Measurement Framework for projects in the public sector and in the private sector directed to refugees and host communities including indicators allowing the project's contribution to the achievement of the SDGs, combatting the root causes of migration, and the involvement of civil societies of host communities to be measured. An assessment of the contribution of EIB financing operations addressing those factors should be included in the Commission's annual reporting to the European Parliament and to the Council on EIB financing operations, ensuring full accountability and transparency. The EIB should improve appropriate access to information, not only for the European Parliament and other institutions but also for the general public, especially with regard to the system of contracts and subcontracts and the financial data concerning projects financed by the EIB. | ||||||||||||||||||||||||
Amendment 8 Proposal for a decision Recital 16 | |||||||||||||||||||||||||
Text proposed by the Commission |
Amendment | ||||||||||||||||||||||||
(16) Only where it concerns the need to address urgencies and crisis situations that could arise within the mandate period and which are recognised as Union external policy priorities, the ceiling for reallocation between the regions by the EIB in the course of the mandate should be increased from 10 % to 20 %. The private sector mandate of EUR 2 300 000 000 and the amount of EUR 1 400 000 000 dedicated to public sector projects cannot be reallocated because its purpose is to address root causes of migration. |
(16) Only where it concerns the need to address urgencies and crisis situations that could arise within the mandate period and which are recognised as Union external policy priorities, the ceiling for reallocation between the regions by the EIB in the course of the mandate should be increased from 10 % to 20 %. The EIB should notify the European Parliament of any reallocation decision by providing a justification report and an impact assessment. The private sector mandate of EUR 2 300 000 000 and the amount of EUR 1 400 000 000 dedicated to public sector projects cannot be reallocated because its purpose is to address root causes of migration. | ||||||||||||||||||||||||
Amendment 9 Proposal for a decision Recital 17 | |||||||||||||||||||||||||
Text proposed by the Commission |
Amendment | ||||||||||||||||||||||||
(17) The list of eligible regions and countries and potentially eligible regions and countries should be modified in order to exclude high income countries with high credit rating (Brunei, Iceland, Israel, Singapore, Chile and South Korea). In addition, Iran is to be added to the list of potentially eligible regions and countries. |
(17) The list of eligible regions and countries and potentially eligible regions and countries should be designed in order to achieve the greatest development impact and modified in order to exclude high income countries with high credit rating (Brunei, Iceland, Israel, Singapore, Chile and South Korea). In addition, Iran is to be added to the list of potentially eligible regions and countries. | ||||||||||||||||||||||||
Amendment 10 Proposal for a decision Recital 17 a (new) | |||||||||||||||||||||||||
Text proposed by the Commission |
Amendment | ||||||||||||||||||||||||
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(17a) The European Council underlined the key role the EIB plays in the Union´s external economic relations and called at its meeting on 20 and 21 March 2014 on the EIB ‘to further contribute to enhancing European companies' internationalisation and competitiveness.’ Access to finance is one of the most pressing challenges for SMEs. Therefore an EIB strategy to enable further and improved access to funding for SMEs is necessary, including through trade facilitation programmes and initiatives such as the European Progress Microfinance facility and the new facilities for financing European SME trade activities. In addition, more proactive SME and microenterprise policy requirements for intermediary banks disbursing EIB funds should be established and transparency with regard to the assessment of the local economic and social impact of the EIB’s intermediated loans should be further improved. | ||||||||||||||||||||||||
Amendment 11 Proposal for a decision Recital 17 b (new) | |||||||||||||||||||||||||
Text proposed by the Commission |
Amendment | ||||||||||||||||||||||||
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(17b) The EIB’s quantitative targets for climate-related actions are well on track. The EIB has pledged to increase even further its focus on Climate Action in developing countries to up to 35 % by 2020. In order to enable the EIB to achieve this target, objective regional ceilings need to be allocated with sufficient funding, otherwise the EIB will have to reduce its activities in Asia and Latin America, regions where it has traditionally been very active in climate finance. | ||||||||||||||||||||||||
Amendment 12 Proposal for a decision Article 1 – paragraph 1 – point 1 Decision 466/2014/EU Article 2 – paragraph 1 | |||||||||||||||||||||||||
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Amendment 13 Proposal for a decision Article 1 – paragraph 1 – point 1 Decision 466/2014/EU Article 2 – paragraph 1 – point a | |||||||||||||||||||||||||
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Amendment 14 Proposal for a decision Article 1 – paragraph 1 – point 2 – point b Decision No 466/2014/EU Article 3 – paragraph 5 – subparagraph 1 | |||||||||||||||||||||||||
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Amendment 15 Proposal for a decision Article 1 – paragraph 1 – point 2 – point b a (new) Decision 466/2014/EU Article 3 – paragraph 6 | |||||||||||||||||||||||||
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(http://eur-lex.europa.eu/legal-content/EN/TXT/HTML/?uri=CELEX:32014D0466&from=EN) | |||||||||||||||||||||||||
Justification | |||||||||||||||||||||||||
Gas production and transportation should not be covered by the EU Guarantee given that it constitutes a fossil fuel subsidy. The Decision should put in place the conclusions of the European Council of 22 May 2013 to phase out environmentally or economically harmful subsidies, including for fossil fuels. | |||||||||||||||||||||||||
Amendment 16 Proposal for a decision Article 1 – paragraph 1 – point 2 – point c Decision 466/2014/EU Article 3 – paragraph 7 – subparagraph 4 a (new) | |||||||||||||||||||||||||
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Amendment 17 Proposal for a decision Article 1 – paragraph 1 – point 2 – point c Decision No 466/2014/EU Article 3 – paragraph 8 – subparagraph 1 | |||||||||||||||||||||||||
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Amendment 18 Proposal for a decision Article 1 – paragraph 1 – point 2 – point c Decision No 466/2014/EU Article 3 – paragraph 8 – point b | |||||||||||||||||||||||||
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Justification | |||||||||||||||||||||||||
Medical treatment in particular of children, successful prevention of diseases by sufficient sanitary supplies, and provision of school education rank high among the needs for migrating children and their families. | |||||||||||||||||||||||||
Amendment 19 Proposal for a decision Article 1 – paragraph 1 – point 2 – point c a (new) Decision 466/2014/EU Article 3 – paragraph 8 a (new) | |||||||||||||||||||||||||
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Amendment 20 Proposal for a decision Article 1 – paragraph 1 – point 2 – point c b (new) Decision 466/2014/EU Article 3 – paragraph 8 b (new) | |||||||||||||||||||||||||
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Amendment 21 Proposal for a decision Article 1 – paragraph 1 – point 5 – point a Decision No 466/2014/EU Article 11 – paragraph 1 – point b | |||||||||||||||||||||||||
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Amendment 22 Proposal for a decision Article 1 – paragraph 1 – point 5 – point a a (new) Decision 466/2014/EU Article 11 – paragraph 1 – point c | |||||||||||||||||||||||||
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(http://eur-lex.europa.eu/legal-content/EN/TXT/HTML/?uri=CELEX:32014D0466&from=EN) | |||||||||||||||||||||||||
Justification | |||||||||||||||||||||||||
The main concern regarding EIB lending outside of the EU remains the operationalization on the ground of the provisions set out in the ELM. In this regard, building a mechanism of assessment of compliance with Article 21 of the TEU would be of prime importance to move the EIB to create and implement effective due diligence procedures in the screening of operations supported by the Bank with regard to their potential impact on human rights, poverty eradication and environment. | |||||||||||||||||||||||||
Amendment 23 Proposal for a decision Article 1 – paragraph 1 – point 5 a (new) Decision No 466/2014/EU Article 11 – paragraph 2 | |||||||||||||||||||||||||
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Amendment 24 Proposal for a decision Article 1 – paragraph 1 – point 6 Decision No 466/2014/EU Article 20 | |||||||||||||||||||||||||
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PROCEDURE – COMMITTEE ASKED FOR OPINION
Title |
EU guarantee to the European Investment Bank against losses under financing operations supporting investment projects outside the Union |
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References |
COM(2016)0583 – C8-0376/2016 – 2016/0275(COD) |
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Committee responsible Date announced in plenary |
BUDG 6.10.2016 |
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Opinion by Date announced in plenary |
INTA 6.10.2016 |
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Rapporteur Date appointed |
Salvatore Cicu 12.10.2016 |
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Discussed in committee |
24.1.2017 |
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Date adopted |
28.2.2017 |
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Result of final vote |
+: –: 0: |
29 4 2 |
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Members present for the final vote |
Laima Liucija Andrikienė, Maria Arena, Tiziana Beghin, David Campbell Bannerman, Daniel Caspary, Salvatore Cicu, Christofer Fjellner, Karoline Graswander-Hainz, Heidi Hautala, Bernd Lange, David Martin, Emmanuel Maurel, Emma McClarkin, Anne-Marie Mineur, Sorin Moisă, Artis Pabriks, Franck Proust, Tokia Saïfi, Marietje Schaake, Helmut Scholz, Joachim Schuster, Joachim Starbatty, Adam Szejnfeld, Hannu Takkula, Iuliu Winkler |
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Substitutes present for the final vote |
Reimer Böge, Klaus Buchner, Sergio Gutiérrez Prieto, Sander Loones, Georg Mayer, Fernando Ruas, José Ignacio Salafranca Sánchez-Neyra, Pedro Silva Pereira |
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Substitutes under Rule 200(2) present for the final vote |
Jean-François Jalkh, Joëlle Mélin |
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FINAL VOTE BY ROLL CALL IN COMMITTEE ASKED FOR OPINION
29 |
+ |
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ALDE |
Schaake Marietje, Takkula Hannu |
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ECR |
Campbell Bannerman David, Loones Sander, McClarkin Emma, Starbatty Joachim |
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EFDD |
Beghin Tiziana |
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PPE |
Andrikienė Laima Liucija, Böge Reimer, Caspary Daniel, Cicu Salvatore, Fjellner Christofer, Pabriks Artis, Proust Franck, Ruas Fernando, Salafranca Sánchez-Neyra José Ignacio, Saïfi Tokia, Szejnfeld Adam, Winkler Iuliu |
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S&D |
Arena Maria, Graswander-Hainz Karoline, Gutiérrez Prieto Sergio, Lange Bernd, Martin David, Maurel Emmanuel, Moisă Sorin, Schuster Joachim, Silva Pereira Pedro |
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VERTS/ALE |
Buchner Klaus |
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4 |
– |
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ENF |
Jalkh Jean-François, Mayer Georg, Mélin Joëlle |
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GUE/NGL |
Mineur Anne-Marie |
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2 |
0 |
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GUE/NGL |
Scholz Helmut |
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VERTS/ALE |
Hautala Heidi |
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Key:
+ : in favour
- : against
0 : abstentions
OPINION of the Committee on the Environment, Public Health and Food Safety (21.3.2017)
for the Committee on Budgets
on the proposal for a decision of the European Parliament and of the Council amending Decision No 466/2014/EU granting an EU guarantee to the European Investment Bank against losses under financing operations supporting investment projects outside the Union
(COM(2016)0583 – C8‑0376/2016 – 2016/0275(COD))
Rapporteur: Aldo Patriciello
SHORT JUSTIFICATION
Context
The European Investment Bank (EIB) is the Union’s financing institution which contributes to European integration, development and cohesion by financing projects in support of EU policies. Although the majority of projects financed by the EIB are located within the Union, the EIB also carries out operations outside the Union. The Union has given to the EIB a number of mandates to perform certain lending operations under an EU budgetary guarantee covering the period 2014-2020, including the EIB external lending mandate (ELM) which covers the EIB operations outside the Union.
The rapporteur acknowledges that the Union, as a global actor, should take the lead in addressing climate change. Furthermore, he recognises that the EIB has made climate action one of its top priorities and developed a leading position among international finance institutions in this area by embedding these environmental priorities into the bank’s activities and actions within and outside the Union.
Over the period 2010-2014, the EIB provided more than EUR 90 billion to climate action projects, making the EIB one of the largest climate financiers globally.
EIB financing of climate change projects
Following the mid-term review of the current mandate, which takes into account the experiences gained over the 2014 to 2016 period, the rapporteur welcomes this legislative proposal adopted by the Commission on 14 September 2016.
This new proposal, built on past achievements and challenges encountered, makes reference to the Paris agreement adopted under the UN Framework Convention on Climate Change, where governments agreed to limit global warming to well below 2°C above pre-industrial levels and therefore to undertake rapid reductions of GHG emissions with the best available techniques.
Accordingly, by recognising the agreement as a milestone on the path towards a more sustainable economy worldwide, the rapporteur fully supports all actions needed to broadly align the external lending mandate’s aims and operations, including the new horizontal high-level objective recently added for addressing root causes of migration, with the UN Sustainable Development Goals. Such actions could contribute directly to some of these Goals, such as clean water and sanitation, affordable and clean energy, industry, innovation and infrastructure, sustainable cities and communities, climate action, decent work and economic growth.
The rapporteur welcomes the proposal particularly as regards the EIB´s aim to sustain the current high level of climate relevant spending under the ELM, contributing to increasing its climate related investment in developing countries from 25 % to 35 % by 2020.
Furthermore, the rapporteur supports the fact that the proposal sets out the following main elements:
EIB financing operations, despite the vastly different situations of countries around the world, should back investment projects in climate change mitigation and adaptation that contribute to the overall objectives of the UN Framework Convention on Climate Change and of the Paris Agreement adopted under that Convention, 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.
Although the EIB has been the first international financial institution to systematically introduce a cost of carbon into its project appraisal, the eligibility criteria for climate action projects should be those defined in the EIB climate change strategy which was updated in 2015. On the basis of the methodologies for the assessment of project greenhouse gas emissions and emission variations drawn up by the EIB, an analysis of the carbon footprint should be included in the environmental assessment procedure to determine whether project proposals optimise energy-efficiency improvements.
Over the period covered by this decision (2014-2020), the EIB should endeavour to sustain the current high level of climate-relevant operations, while the minimum volume of those operations should represent at least 25 % of the total EIB financing operations.
The EIB should enhance the adaptation elements in its contribution to climate change projects.
AMENDMENTS
The Committee on the Environment, Public Health and Food Safety calls on the Committee on Budgets, as the committee responsible, to take into account the following amendments:
Amendment 1 Proposal for a decision Recital 2 | ||||||||||||||||
Text proposed by the Commission |
Amendment | |||||||||||||||
(2) A new results-oriented partnership framework with third countries which takes account of all Union policies and instruments should be developed. As part of that new partnership framework, the External Investment Plan should be established in order to support investments in regions outside the Union, while contributing to the achievement of the sustainable development goal. It should also fulfil the objectives of the 2030 Agenda for Sustainable Development and the objectives pursued by the other financing instruments for external action. |
(2) A new results-oriented partnership framework with third countries which takes account of all Union policies and instruments should be developed. As part of that new partnership framework, the External Investment Plan should be established in order to support investments in regions outside the Union, while contributing to the achievement of the sustainable development goal. It should also fulfil the objectives of the 2030 Agenda for Sustainable Development, the Paris Agreement adopted under the United Nations Framework Convention on Climate Change and the objectives pursued by the other financing instruments for external action. | |||||||||||||||
Justification | ||||||||||||||||
With the Paris Climate Agreement, governments agreed to limit global warming to well below 2°C above pre-industrial levels and therefore to undertake rapid reductions of GHG emissions with the best available techniques. They also committed to support developing countries in their effort toward climate change adaptation. | ||||||||||||||||
Amendment 2 Proposal for a decision Recital 13 | ||||||||||||||||
Text proposed by the Commission |
Amendment | |||||||||||||||
(13) Following the Paris Agreement adopted under the United Nations Framework Convention on Climate Change4, the EIB should aim to sustain the current high level of climate relevant spending under the ELM, contributing to increasing its climate-related investment in developing countries from 25 % to 35 % by 2020. |
(13) Following the Paris Agreement adopted under the United Nations Framework Convention on Climate Change4, the EIB should aim to sustain the current high level of climate relevant spending under the ELM, contributing to increasing its climate-related investment in developing countries from 25 % to 35 % by 2020. In addition, the EIB should work to phase out the financing of projects that do not contribute to the Union's climate objectives and the transition to a low-carbon economy. | |||||||||||||||
_________________ |
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4 Council Decision (EU) 2016/590 of 11 April 2016 on the conclusion, on behalf of the European Union, of the Paris Agreement adopted under the United Nations Framework Convention on Climate Change (OJ L 103, 19.4.2016, p. 1). |
4 Council Decision (EU) 2016/590 of 11 April 2016 on the conclusion, on behalf of the European Union, of the Paris Agreement adopted under the United Nations Framework Convention on Climate Change (OJ L 103, 19.4.2016, p. 1). | |||||||||||||||
Amendment 3 Proposal for a decision Article 1 – paragraph 1 – point 2 – point b b (new) Decision No 466/2014/EU Article 3 – paragraph 6 | ||||||||||||||||
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(http://eur-lex.europa.eu/legal-content/EN/TXT/?qid=1488461953197&uri=CELEX:02014D0466-20160926) | ||||||||||||||||
Justification | ||||||||||||||||
Aligning the conditions for EIB financing operations in the energy area to the Parliament position regarding ETS support for modernisation of the energy sector. Financing projects for gas production and transportation to Union energy market should not be in the scope of the instrument that aims to tackle root causes of migration by contributing to the achievement of the sustainable development goals. | ||||||||||||||||
Amendment 4 Proposal for a decision Article 1 – paragraph 1 – point 2 – point c Decision No 466/2014/EU Article 3 – paragraph 7 – subparagraph 1 | ||||||||||||||||
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Justification | ||||||||||||||||
One of the key hurdles in the fight against climate change is to enable the investments required in this transition, especially in the world´s poorest regions. It is important to develop innovative climate financing solutions, addressing market failure and seizing opportunities to attract private finance, including through the capital market | ||||||||||||||||
Amendment 5 Proposal for a decision Article 1 – paragraph 1 – point 2 – point c Decision No 466/2014/EU Article 3 – paragraph 7 – subparagraph 3 | ||||||||||||||||
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Amendment 6 Proposal for a decision Article 1 – paragraph 1 – point 2 – point c Decision No 466/2014/EU Article 3 – paragraph 7 a (new) | ||||||||||||||||
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Justification | ||||||||||||||||
Integrating climate change considerations across all EIB standards, methods and processes will help to reinforce the environmental impact of EIB financing activities. |
PROCEDURE – COMMITTEE ASKED FOR OPINION
Title |
EU guarantee to the European Investment Bank against losses under financing operations supporting investment projects outside the Union |
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References |
COM(2016)0583 – C8-0376/2016 – 2016/0275(COD) |
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Committee responsible Date announced in plenary |
BUDG 6.10.2016 |
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Opinion by Date announced in plenary |
ENVI 6.10.2016 |
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Rapporteur Date appointed |
Aldo Patriciello 13.10.2016 |
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Discussed in committee |
27.2.2017 |
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Date adopted |
21.3.2017 |
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Result of final vote |
+: –: 0: |
54 1 0 |
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Members present for the final vote |
Marco Affronte, Margrete Auken, Zoltán Balczó, Ivo Belet, Biljana Borzan, Paul Brannen, Soledad Cabezón Ruiz, Nessa Childers, Birgit Collin-Langen, Mireille D’Ornano, Miriam Dalli, Seb Dance, Angélique Delahaye, Stefan Eck, Bas Eickhout, José Inácio Faria, Francesc Gambús, Gerben-Jan Gerbrandy, Jens Gieseke, Julie Girling, Sylvie Goddyn, Françoise Grossetête, Jytte Guteland, György Hölvényi, Anneli Jäätteenmäki, Benedek Jávor, Karin Kadenbach, Kateřina Konečná, Urszula Krupa, Giovanni La Via, Peter Liese, Norbert Lins, Valentinas Mazuronis, Gesine Meissner, Susanne Melior, Miroslav Mikolášik, Piernicola Pedicini, Pavel Poc, Julia Reid, Frédérique Ries, Michèle Rivasi, Annie Schreijer-Pierik, Davor Škrlec, Renate Sommer, Estefanía Torres Martínez, Nils Torvalds, Adina-Ioana Vălean, Damiano Zoffoli |
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Substitutes present for the final vote |
Guillaume Balas, Nicola Caputo, Carlos Zorrinho, Elżbieta Katarzyna Łukacijewska |
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Substitutes under Rule 200(2) present for the final vote |
Jan Keller, Arne Lietz, Stefano Maullu |
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FINAL VOTE BY ROLL CALL IN COMMITTEE ASKED FOR OPINION
54 |
+ |
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ALDE |
Gerben-Jan Gerbrandy, Anneli Jäätteenmäki, Valentinas Mazuronis, Gesine Meissner, Frédérique Ries, Nils Torvalds |
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ECR |
Julie Girling, Urszula Krupa |
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EFDD |
Piernicola Pedicini |
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ENF |
Mireille D'Ornano, Sylvie Goddyn |
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GUE/NGL |
Stefan Eck, Kateřina Konečná, Estefanía Torres Martínez |
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NI |
Zoltán Balczó |
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EPP |
Ivo Belet, Birgit Collin-Langen, Angélique Delahaye, José Inácio Faria, Francesc Gambús, Jens Gieseke, Françoise Grossetête, György Hölvényi, Giovanni La Via, Peter Liese, Norbert Lins, Elżbieta Katarzyna Łukacijewska, Stefano Maullu, Miroslav Mikolášik, Annie Schreijer-Pierik, Renate Sommer, Adina-Ioana Vălean |
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S&D |
Guillaume Balas, Biljana Borzan, Paul Brannen, Soledad Cabezón Ruiz, Nicola Caputo, Nessa Childers, Miriam Dalli, Seb Dance, Jytte Guteland, Karin Kadenbach, Jan Keller, Arne Lietz, Susanne Melior, Pavel Poc, Damiano Zoffoli, Carlos Zorrinho |
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Verts//ALE |
Marco Affronte, Margrete Auken, Bas Eickhout, Benedek Jávor, Michèle Rivasi, Davor Škrlec |
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1 |
- |
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EFDD |
Julia Reid |
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0 |
0 |
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Key to symbols:
+ : in favour
- : against
0 : abstention
PROCEDURE – COMMITTEE RESPONSIBLE
Title |
EU guarantee to the European Investment Bank against losses under financing operations supporting investment projects outside the Union |
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References |
COM(2016)0583 – C8-0376/2016 – 2016/0275(COD) |
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Date submitted to Parliament |
14.9.2016 |
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Committee responsible Date announced in plenary |
BUDG 6.10.2016 |
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Committees asked for opinions Date announced in plenary |
AFET 6.10.2016 |
DEVE 6.10.2016 |
INTA 6.10.2016 |
ECON 6.10.2016 |
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ENVI 6.10.2016 |
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Not delivering opinions Date of decision |
ECON 12.10.2016 |
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Rapporteurs Date appointed |
Eider Gardiazabal Rubial 10.10.2016 |
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Date adopted |
27.3.2017 |
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Result of final vote |
+: –: 0: |
28 3 0 |
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Members present for the final vote |
Nedzhmi Ali, Jean Arthuis, Reimer Böge, Lefteris Christoforou, Eider Gardiazabal Rubial, Jens Geier, Ingeborg Gräßle, Iris Hoffmann, Monika Hohlmeier, Bernd Kölmel, Zbigniew Kuźmiuk, Clare Moody, Siegfried Mureşan, Jan Olbrycht, Paul Rübig, Patricija Šulin, Eleftherios Synadinos, Inese Vaidere, Tiemo Wölken, Stanisław Żółtek |
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Substitutes present for the final vote |
Nicola Caputo, Heidi Hautala, Ivana Maletić, Marco Valli |
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Substitutes under Rule 200(2) present for the final vote |
Iratxe García Pérez, Ramón Jáuregui Atondo, Luigi Morgano, Inmaculada Rodríguez-Piñero Fernández, Fernando Ruas, Ramón Luis Valcárcel Siso |
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Date tabled |
31.3.2017 |
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FINAL VOTE BY ROLL CALL IN COMMITTEE RESPONSIBLE
28 |
+ |
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ALDE |
Nedzhmi Ali, Jean Arthuis |
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ECR |
Zbigniew Kuźmiuk, Bernd Kölmel |
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PPE |
Reimer Böge, Lefteris Christoforou, Ingeborg Gräßle, Monika Hohlmeier, Ivana Maletić, Siegfried Mureşan, Jan Olbrycht, Fernando Ruas, Paul Rübig, Inese Vaidere, Ramón Luis Valcárcel Siso, Patricija Šulin |
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S&D |
Nicola Caputo, Iratxe García Pérez, Eider Gardiazabal Rubial, Jens Geier, Iris Hoffmann, Ramón Jáuregui Atondo, Arndt Kohn, Clare Moody, Luigi Morgano, Inmaculada Rodríguez-Piñero Fernández, Tiemo Wölken |
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Verts/ALE |
Heidi Hautala |
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3 |
- |
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EFDD |
Marco Valli |
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ENF |
Stanisław Żółtek |
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NI |
Eleftherios Synadinos |
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0 |
0 |
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Key to symbols:
+ : in favour
- : against
0 : abstention