Nedzhmi Ali on the Annual Report on the Financial Activities of the European Investment Bank

26-09-N. Ali copy

This statement was made during the meeting of the Committee on Budgets of the European Parliament on the 25th September in Brussels.

Thank you Mr. Chair.   Dear Ms Gardiazabal Rubial, dear colleagues,

We welcome the rapporteur´s opinion on the Annual Report on the Financial Activities of the European Investment Bank (EIB) to the leading committee ECON. Using the information from the forward-looking operational plan, published by the Bank, I believe that important insights from the BUDG committee point of view is included in the opinion.

All of us are acquainted with the goal of the European Investment Bank to contribute to EU integration, economic and social cohesion and regional development through dedicated investment instruments. The catalytic effect of the EIB’s fundraising is a key element in defining EU added value and ensuring the Europe´s leading position in terms of competitiveness, innovation, infrastructure and attractiveness.

From this point of view we agree with the positive observations of the Bank´s activities related to the Results Measurement Sheets for investment projects, achievement of 25% climate related financing objective, as well as the creation of the Smart Finance for smart Buildings initiative and investments in social housing.

At the same time, while the EIB is a core actor needed to revitalise the EU economy and maximise the effectiveness and value for money of the financial resources, we would like to underline again the necessity of continuing of work toward a greater transparency and accountability. In this regard it is necessary EIB systematically to pay attention to mid- and long-term effects when defining investment actions and its funding decisions. This ultimately should lead to a better corporate governance. 

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