Strasbourg, 16/02/2007 (Agence Europe) - Adopting a report on 15 February by Cristobal Montoro Romero (EPP-ED, Spain) on the work of the European Investment Bank (EIB) in 2005, and following a debate attended by EIB President Philippe Maystadt, MEPs gave broad support to the EIB's work in 2005.
The Montoro Romero Report welcomed the greater openness at the EIB regarding public information and improving control systems, expressing doubt about the level of resources earmarked by the EIB to help meet Lisbon Strategy objectives. The main mission of the EIB, according to its new strategy adopted in 2005, is to promote social and economic cohesion within the EU, and the EP wants work in this field to focus on areas most lagging behind in terms of development. MEPs want the EIB to increase funding under 'Innovation 2010' and welcome the bank's funding of environment and energy projects, stressing the catalyst role that such funding can play in loans to back public-private partnerships, particularly for trans-European networks.
MEPs want to see greater coherence in the EIB's foreign mandate, both in terms of a sufficient volume of funding for the new period and how funding is broken down geographically. The report urges the EIB to ensure operating standards comply with best international practices and standards. It recommends establishing a transparent participation mechanism to get civil society organisations and other interested parties involved in formulating strengthened social standards at the EIB. Following the adoption of two Socialist group amendments (PES), the report notes that a combination of EIB funding and authorised state aid should be available to SMEs. Likewise, the EIB is urged to take advantage of options under the own resources directive to boost competitiveness in the EU by facilitating loans to SMEs. (ol)