Local view for "http://purl.org/linkedpolitics/eu/plenary/2011-04-07-Speech-4-033-000"
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"en.20110407.3.4-033-000"2
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"Mr President, the European Investment Bank (EIB) was established with the objective of supporting the aims and policies of the European Union, both within a Union framework and elsewhere. The Bank is itself financed through bonds which are guaranteed by the EU Member States.
The rapporteur, Mr Cutaş, has pointed out to us that the guarantees for EIB activities in the EU budget amounted to almost EUR 20 billion by the end of 2009, which is a lot even for the EU, and therefore Parliament is quite justified, in my opinion, in expecting an explanation of the risks associated with this obligation. It would also be good to know more about how the interest from the loans provided is to be used, and about the administrative fees secured from the EU budget.
The EIB is answerable to the EU Member States, the Court of Auditors and OLAF. The proposal to introduce possible regulatory supervision, which would involve monitoring the quality of the finances, the financial situation, the precise measurement of results and compliance with the rules of the best practices included in the Cutaş report, looks like a good idea to me, and I would therefore like to recommend that the Commission seriously considers setting it up in the interests of greater transparency in the management of EU resources."@en1
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