Brussels, 22/04/2010 (Agence Europe) -As expected, on Wednesday 21 April, the European Commission put a draft decision on the external mandate of the European Investment Bank (EIB) for the remainder of the financial perspectives (2007-2013) to the European Parliament and Council (see EUROPE 10086). The proposal provides for activation of the €2 billion optional reserve for tackling climate change and for the replacement of the current system of regional objectives for operations covered by the EU guarantee with horizontal objectives, while placing more emphasis on development aspects of EIB financing. The Commission also proposes to activate the EIB external mandate for Iceland, Belarus, Libya, Iraq and Cambodia.
In its mid-term report on the external mandate of the EIB, adopted on Wednesday alongside its proposal for its amendment, the Commission concluded that the EIB external mandate, underpinned by the EU guarantee, was an effective way to serve EU external policies by financing relevant projects in partner countries. The proposed decision will ensure continuation of the EU guarantee for EIB external financing until 2013, while, at the same time, bringing a number of new elements, in particular: - activation of the €2 billion optional mandate for projects which contribute to the fight against climate change across all regions covered by the decision; - replacement of the current system of regional objectives for operations under the EU guarantee with horizontal objectives covering all regions under the external mandate. These objectives cover the areas of climate change, social and economic infrastructure and local private sector development; - development by the Commission, along with the EIB, of operational guidelines for each region under the external mandate, reflecting EU regional strategies; - strengthening of the EIB's capacity to support EU development objectives through enhancing the EIB's appraisal and monitoring of social and development aspects of projects and increasing the focus of EIB intervention in sectors which will further develop objectives in third countries, such as environmental infrastructure including water and sanitation, sustainable transportation and climate change mitigation and adaptation. The EIB should also progressively increase its activity in support of health and education; - activation of the EIB external mandate for Iceland, Belarus, Libya, Iraq and Cambodia. (O.L./transl.rt)