Local view for "http://purl.org/linkedpolitics/eu/plenary/2011-02-17-Speech-4-168-000"

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"en.20110217.18.4-168-000"2
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"The European Union provides the European Investment Bank (EIB) with a budgetary guarantee to cover risks of a political and sovereign nature in connection with its loan and loan guarantee operations for projects carried out outside the EU. This EU guarantee is an effective means of combining EU budgetary funds with the EIB’s own resources, while ensuring that the EIB’s financial health is not affected. The EIB has made great progress in implementing its mandate: it has strengthened its coordination with the Commission and shifted its focus towards support for the EU’s political objectives. The development of its external action will now have to be reflected in an increase in the volume and quality of loans and a diversification of new recipients (local authorities). The EIB should immediately be given an additional EUR 500 million mandate for microcredit financing to increase access for the poorest people to bank finance in eligible countries. On the question of internal organisation, the EIB should gradually be encouraged to divide up all its external activities on a geographic basis so as to better adapt to the specific requirements of each area and promote the participation of partner countries."@en1

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