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Debates
Wednesday, 16 January 2019 - Strasbourg Revised edition

Annual report on the control of the financial activities of the European Investment Bank for 2017 (debate)
MPphoto
 

  Nedzhmi Ali, on behalf of the ALDE Group. – Madam President, first of all I would like to congratulate the rapporteur on the report. The pivotal role of the Bank is to ensure value-adding strategic public investment supporting sustainable growth and creating high value jobs within the EU. As an example, the overall financing as approved by the EIB Group within the EU in 2015-2016 will support EUR 544 billion of investment up 2.3% to GDP and create 2.25 million jobs by 2020. In 2017 the EIB successfully achieved its objectives, implementing EU policy in line with its mission, as detailed in its operational plan. The bank lending signature reached almost EUR 70 billion, of which 90% was within the Union. This financial resource was dedicated to four strategic areas: innovation and skills; infrastructure; environmental projects; and SMEs and midcaps. SMEs received more than 40% of the whole sum, which corresponds to their role as a backbone of the European economy. Results will be better with proactive policy and increasing the funding to these enterprises. We are satisfied with the conclusion of the audit committee that the financial statement, adopted by the EIB Board of Directors, presents a true and fair view of the financial position of the Bank and of the results of its operational and cash flows. Better corporate governance would be achieved paying greater attention to meet the long-term effects when defining investment actions in its funding decisions. In order to speed up the economic recovery in the Union and to help certain economic sectors and geographical areas to catch up, a major role is played in the European funding for strategic investments. With mobilised investment at the end of 2017 exceeding EUR 207 billion, EFSI is on the way to reach its goal. Despite the need to avoid some of the geographical imbalances, the improvement in transparency is visible with the publication of the EFSI Investment Committee decisions and the documents adopted by the steering board together within the minutes of the meetings.

 
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