Debate: Financial activities of the European Investment Bank – annual report  - Control of the financial activities of the European Investment Bank – annual report
Date: WEDNESDAY, 6 JULY 2022
Speaker: Corina Crețu
Country: Netherlands
Language: EN

The very foundation of Europe is based on solidarity between people. And today, more than ever, this solidarity must be shown by helping Ukrainian citizens who are suffering from the war. And I would like to mention that alongside the EU’s support, the EIB provided additional aid of 4 billion to improve housing, health, education and access to jobs for Ukrainian refugees. Of course, we all hope that the war will end soon and that peace will be established on our continent. Today we are discussing the report on 2020, which was a very difficult year for all of us. I would like to show my appreciation that the EIB Group remained operational to carry out its activities despite the outbreak of the COVID-19 pandemic. I welcome the efforts made by the EIB to overcome the global health crisis, to respond to the economic effects of COVID-19, because the health of our citizens is our priority. The EIB had made available funds for investments in the healthcare sector, which amounted 5.2 billion, of which 175 million were distributed in the research, and also supported countries outside the European Union, which I think is very important. I would like also to underpin the support provided to the small and medium—sized enterprises, and also together with the European Investment Fund, you have launched the Skills & Education Guarantee Pilot to stimulate investments in education, training and skills. I think education is very important, and this initiative is well suited to address the upcoming needs for the labour market, giving special attention to the digital and green transition. I note that in 2020, 34% of all EIB signatures within the Member States were for projects and beneficiaries located in the EIB cohesion priority regions, identified as less-developed regions and transitioning regions. Of course, as former Commissioner for European Regional Policy, I am grateful to the EIB for its support to cohesion. We are also aware that the economic consequences of the COVID—19 pandemic have deepened the differences between the Member States. We should assure that the most affected regions and countries can adjust to the new circumstances so that no one is left behind. The coming years will be decisive in preventing severe impacts of climate change. And, of course, here I have to mention that in 2020 alone, the Bank invested a EUR 24 billion in climate action, confirming its position as being the largest multilateral financer of climate action. As there is always room for improvement, I emphasise the need for even more integrity, transparency and accountability and reinforced mechanisms to fight fraud and corruption. I am convinced that the EIB will continue to carry out the project assessment in respect of technical, financial and economic-based indicators, making the projects’ qualities a decisive factor in deciding whether or not to grant financing. I note that, concerning gender equality, the border is still 29.5% of management positions now taken by women. But this, I think, it’s the responsibility of the Member States because they are the ones who nominate the Vice—President in the Board of EIB. At the end, I would like to congratulate President Hoyer for creating EIB Development Branch, and I believe that this can increase the positive impact that the EIB has outside of the European Union. This will help even more the countries with small and medium revenue to create sustainable growth, promote human rights, reduce poverty and inequality and improve human life. I believe the Branch will be in charge of many very important investments that will have a major positive impact on the life of the people.