Local view for "http://purl.org/linkedpolitics/eu/plenary/2005-03-07-Speech-1-073"
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"en.20050307.11.1-073"2
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".
Mr President, the Commission welcomes the report of the European Parliament on the EIB annual report 2003 and encourages the EIB Group and Parliament to continue the ongoing dialogue which has developed over successive annual reports.
The Commission is working more and more closely with the EIB Group on a wide range of issues, both within and outside the European Union. As a ‘policy driven’ bank, the EIB needs to keep its finger on the pulse of European policy development and to react when necessary.
Within the Union, the EIB has a very important role to play in taking forward the Lisbon Agenda and the European Action for Growth. I would particularly like to highlight, as does Parliament’s report, the Innovation 2010 Initiative, which supports innovation and research and development, and the TEN Infrastructure Facility, which finances TEN projects. The bank’s long experience of infrastructure projects, and therefore its ability to offer expert advice, can and should add value above and beyond the financial advantages conferred by its loans. I would especially welcome the environmental activities of the EIB, particularly its expanded lending for renewable energy projects.
Outside the Union, the European Investment Bank has expanded its operations with existing partners and also taken on new partners. I would particularly like to highlight the bank’s work in the Mediterranean partner countries, where activities under the FEMIP have grown year-on-year. As Parliament has noted, we will need to ensure that the bank’s future external activities are firmly framed in the context of the Community’s external relations policies. We will take this into account during the work to develop the next set of external lending mandates, which will need to be in place from 2007 onwards.
Parliament’s report suggests that prudential rules be laid down to ensure that EIB loans do not compromise the sustainability of the Member States’ public debt. I would like to point out that the existing framework under the Stability and Growth Pact provides a detailed and powerful mechanism for ensuring that Member States’ borrowing is undertaken in a sustainable fashion. Of course, you will be aware that we are seeking to enhance the Pact still further. Among the elements of revision of the Pact that have been discussed, there is the need to increase the focus on long-term aspects of public finances, and to take increasingly into account government risks that can lead to increased debt in the future. Specifically on public-private partnerships, the Commission has provided more detailed statistical guidance for recording them in public accounts and has stressed the importance of demonstrating their value for money.
The Commission acknowledges the good work undertaken by the EIB in recent years to improve its transparency and corporate governance. The new EIB corporate governance statement provides a useful summary of its policies across a range of corporate governance aspects. The Commission encourages the EIB to listen closely to the comments received during the forthcoming public consultation exercise on its public information policies.
In conclusion, the Commission welcomes Parliament’s report and hopes that the fruitful policy dialogue between the European Investment Bank and Parliament will continue."@en1
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