Local view for "http://purl.org/linkedpolitics/eu/plenary/2002-02-27-Speech-3-038"
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"en.20020227.4.3-038"2
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".
Thank you, Mrs Randzio-Plath, for bringing the debate back to the Euro-Mediterranean Development Bank, for I have realised that there are some other issues that require clarification. You made the direct comparison with the EIB, and it is precisely in order to avoid a long start-up period that we have opted for a structure in which the European Investment Bank holds the majority share. The EIB has EUR 9 billion invested in that area, it has experts and an established way of operating. I have, of course, in recent days, been in almost daily contact with President Maystadt regarding this matter, discussing the technical side of the issue. For their part, they can see no problems or obstacles and are ready to get off to a quick start.
Moreover, in my speech just now, I stressed that there have been no defaults on payments. Why have I mentioned this, Mrs Randzio-Plath? Because, in my opinion, this shows that the EIB is proceeding with extreme caution, that it is pursuing this policy with all possible care, but, at the same time – and this would not be possible with a facility – we can undertake operations which we have not attempted before: we can be much more active in the private sector and we can work together with local, regional and national banks, thereby greatly increasing our action; we can thus have a very different type of activity.
This structure also provides part of the answer to your second question. I can see – and I would stress that we are still at the stage of the Commission proposal and so we can still explore the matter further – that the countries of the southern shore of the Mediterranean appear to be content with a structure with which they can form a relationship and work together and in which they can be shareholders and sit on the management board. In other words, we have opted for this compromise formula to enable these countries to make an active, responsible contribution – they can sit on the management boards and have an active role – and, at the same time, to exploit the experience of the EIB, on which we can all rely.
Which countries will take part? It is open to the countries of the southern Mediterranean, but we have not addressed the specific issues because they will be dealt with in a political debate with the Council, nor the future debate with the third countries. For now, I believe that it is right to take this path, to link Europe and the southern shore of the Mediterranean; to start work and see what opportunities present themselves in the future. I can assure you, however, that we have also reflected on the problems of coordination with the World Bank, which already operates in this field but only has a quarter of the EIB’s investments, employs four fifths of its resources in a single country, Turkey, and, in other words, does not have a general activity dedicated to the Mediterranean; the African Development Bank operates throughout the Mediterranean but with negligible impact. Our bank’s responsibility for development will be absolutely vital, and the choice we have made strikes precisely the right balance between innovation and caution."@en1
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