Local view for "http://purl.org/linkedpolitics/eu/plenary/2010-05-06-Speech-4-023"
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"en.20100506.3.4-023"2
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"Mr President, the European Investment Bank is both a bank and an institution. As a bank it cannot forget that it is an institution, and as an institution it cannot forget that it is a bank. Therefore, it must respond to the demands of the European Union, on the one hand, without neglecting its refinancing capacity, on the other.
From this point of view, we do not have the right to make it take unnecessary risks, particularly in its interventions in developing countries. That is why it is important to favour a kind of agreement between the Member States and the European Commission, on the one hand, and the European Investment Bank, on the other, whereby institutional donors have the opportunity to intervene with donations, while the European Investment Bank, by virtue of its role, can grant loans.
This precaution would protect us from the setbacks experienced by the World Bank, which a few years ago had to cancel 50 billion worth of debt that would not have been repaid in any case. I believe we can avoid such an experience with the prudence shown in the European Investment Bank’s operations, and I would like to encourage it to further develop its interventions in developing countries, because there is certainly still some margin for manoeuvre there."@en1
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