WRITTEN QUESTION E-1539/03 by Jonas Sjöstedt (GUE/NGL) to the Commission. EIB loans to Morocco — alleged irregularities with risk capital given to SMEs.
Date: 2003-05-07
Institutions: European Parliament, Provisional data
Subjects: EIB loan, European Anti-fraud Office, Morocco, fraud against the EU, small and medium-sized enterprises, venture capital

C 58 E/78

Official Journal of the European Union

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6.3.2004

It later emerged that the region of Campania had proposed an amendment to point 4.9 of its regional
operational programme in an effort to have the Commission review the limits and prohibitions affecting
funding of the tomato-processing sector.

Without an amendment of this kind, the Agrifuturo programme contract could not be funded, as it was in
breach of the specific provisions of point 4.9, under which plant modernisation resulting in an increase in
processing capacity was not eligible for assistance.

The Commission did not accept the proposed amendment and notified the region of Campania of its
decision in April 2002.

In the light of the above, will the Commission ascertain whether, despite the rejection of the proposed
amendment to point 4.9 of Campania’s regional operational programme, funding for the abovementioned
programme contract has been provided by the Italian State and/or the region of Campania and, if so,
whether infringement proceedings have been initiated?

(1) OJ C 161 E, 10.7.2003, p. 180.

Answer given by Mr Fischler on behalf of the Commission

(5 June 2003)

The Commission requested from the Italian authorities all the data needed to ascertain if funding had been
accorded Agrifuturo.

The Italian authorities recently supplied the same.

No proceedings have yet been initiated as the said data has still to be analysed.

(2004/C 58 E/095)

WRITTEN QUESTION E-1539/03

by Jonas Sjöstedt (GUE/NGL) to the Commission

(7 May 2003)

Subject: EIB loans to Morocco (cid:1) alleged irregularities with risk capital given to SMEs

In a note dated 21 February 2003, Mr Abdelkader Chatri, former ‘Responsable du Contrôle Régionale du
Crédit Agricole du Maroc (CNCA)’ has drawn the attention of the European Investment Bank to serious
irregularities in connection with EIB loans given to the company Biopain.

What steps have been taken by the EIB to follow up these allegations?

Has the EIB informed the European Anti-Fraud Office OLAF about these allegations?

What steps have been taken so far by OLAF?

Answer given by Mrs Schreyer on behalf of the Commission

(30 June 2003)

The Commission has received the following information from EIB:

The European Investment Bank (EIB) received a letter from Mr Chatri, former financial controller of
one of the participating banks in an apex global loan to the Moroccan Government. In that letter,
Mr Chatri complained that proceeds of two sub-loans were not used for the intended purpose. In line
with prevailing procedures, the letter and documents were immediately transmitted to EIB’s Head of

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Official Journal of the European Union

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Internal Audit who is responsible to EIB’s management and Audit Committee for conducting initial
investigations into allegations of irregularities concerning EIB or EIB-managed funds. EIB’s Internal
Audit (IA) has reviewed all relevant documents and procedures and has interviewed staff concerned.

The Commission has received the following information from OLAF:

In late May 2003, the EIB sent a complete dossier regarding this matter to OLAF. OLAF is presently
analysing this information and will shortly decide on whether it should open an investigation
regarding the allegations of irregularities in connection with EIB loans to Biopain.

(2004/C 58 E/096)

WRITTEN QUESTION E-1569/03

by Erik Meijer (GUE/NGL) to the Commission

(8 May 2003)

Subject: Creation of a legal distinction between the conflicting roles of accountants as auditors and

consultants of large companies

1.
Is the Commission aware of the findings of the investigation into financial directors and chartered
accountants commissioned by the Financiëel Dagblad newspaper and the Nova TV programme, which
questioned 935 financial directors of the largest companies in the Netherlands and 1 000 chartered
accountants from the Nivra register of Auditors?

2. What is the Commission’s view of the fact that a majority of the accountants surveyed said that their
consultancy and auditing work for companies was closely or inextricably linked and that they even carried
out activities relating to the private interests of directors?

Does the Commission share my view that this may give rise to a conflict between the presumed
3.
independence of auditors and their dependent position in that they are partly responsible for the efforts of
company management to reduce artificially the profits to be declared to the tax authorities or increase
artificially the profit forecasts for shareholders, as well as for the rewards and golden handshakes paid to
directors, which are not usually disclosed to the public?

4.
Does the Commission consider it desirable that the two conflicting responsibilities of accountants
should be strictly separated? Which EU Member States already have legislation separating these
responsibilities? What does the Commission think of the proposal
in the Netherlands to appoint the
Financial Markets Authority as an independent and publicly funded supervisory body for accountants?

How can such a distinction also be introduced in Member States where it does not already exist? Is

5.
the Commission taking any initiatives in this direction?

Answer given by Mr Bolkestein on behalf of the Commission

(13 June 2003)

1.

The Commission is not aware of the details of this investigation.

2.
In May 2002, the Commission issued a Recommendation on ‘Statutory Auditors’ Independence in the
Union (1). The starting point of the Recommendation is that a statutory auditor should not carry out a
statutory audit if there are any financial, business or other relationships between him and his client
(including the provision of additional services) that would compromise his independence.