Local view for "http://purl.org/linkedpolitics/eu/plenary/2011-02-17-Speech-4-170-000"

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"en.20110217.18.4-170-000"2
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"− In addition to its core mission of financing investment in the European Union, the European Investment Bank (EIB) has, since 1963, undertaken financing operations outside the European Union in support of the Union’s external policies, enabling the EU budget funds available to the external regions to be complemented by the financial strength of the EIB for the benefit of recipient countries. In so doing, the EIB contributes to the general guiding principles and policy objectives of the European Union, including the development of third countries and the prosperity of the Union in the changed global economic climate. The EIB operations in support of the Union’s external policies must continue to be conducted in accordance with the principles of sound banking practices. The majority of its operations in external regions have benefited from an EU budgetary guarantee administered by the Commission with a view to supporting the EU’s external action, and enabling the EIB to finance investments outside the EU without affecting its credit standing. This additional guarantee makes it possible for the EIB to continue with its investment policy, which is of great benefit to the world economy."@en1

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