Financial activities of the European Investment Bank – annual report 2022 - Control of the financial activities of the European Investment Bank - annual report 2022 (joint debate - European Investment Bank)
Speaker: Viola VON CRAMON-TAUBADEL (Germany, Group of the Greens/European Free Alliance / Bündnis 90/Die Grünen)
Date: 2023-07-11

  Viola von Cramon-Taubadel,  rapporteur. – Madam President, President Hoyer, Commissioner, dear Colleagues, as the rapporteur for the annual report on the control of the financial activities of the EIB for the year 2022, I can say it was indeed an important and very challenging year. Thank you to the Secretariat and my shadow rapporteurs for their cooperation. I also look forward to continue working with the EIB.
The EIB annual report focuses on three points for the bank. First, the crisis response following the Russian invasion of Ukraine. Second, the launch of the EIB Global. Third, the green transition. We all agree that Ukraine needs our support for as long as it takes. This support includes financial aid and reconstruction for the country for which the EIB as the EU bank is, and will be, the key stakeholder.
I commend the EIB on its proven record of prompt crisis responses. Whether it regarded the financial crisis, the COVID-19 pandemic or Russia’s war on Ukraine, the EIB has done a great job in mobilising and deploying the needed funds and loans. However, I would like to stress potential risks that lay ahead of us. The financial support given to Ukraine must come with robust supervisory and protective measures. It is fundamental to ensure that those funds are spent in line with its originally intended purpose of rebuilding the country and helping the Ukrainian people recover from the tragedy of the invasion. We must implement an active distribution process that ensures the money for Ukraine’s reconstruction is not misallocated, but that EU taxpayers’ money benefits all, supports democracy and transparency, and sets Ukraine up for a successful and sustainable future in line with our EU values.
The second point is the launch of the EIB Global in January 2022, which is vital to increase our presence outside of the EU. EIB Global is central to the better implementation of our EU policies, priorities and objectives, particularly in the context of potential future EU enlargement. EIB Global will provide additional funds for the Western Balkans in four key areas: digitalisation, telecommunication, infrastructure and the energy transition. The pledges to the EU climate bank are nice, but the bank needs to put its money where its mouth is. For me, the priorities here are the aspects of sustainability, climate, biodiversity and environment. 
The EIB decision to no longer invest in fossil fuels related projects was a first great step. Yet I urge the EIB to be consistent here as the bank is still financing previously approved projects such as the Balkan Stream gas pipeline. We welcome the fact that in 2022, the EIB achieved a total level of green financing for over 36.5 billion, which is 58% of total financing volumes, exceeding the original target of 50%.
Lastly, for the year 2022, I was pleased to note that the financing was distributed to key areas such as innovation, digital and human capital, sustainable energy and natural resources, sustainable cities and of course, SMEs. I look very much forward to all of your remarks and an interesting exchange.