Despite now being directly involved in the EFSI, the European Investment Bank by its statutes has a limited horizon for its investment initiatives that inhibits it from taking the initiative in launching projects that are less than AAA. The instruments that can assume this role on a European basis backed by a network of national institutions are deficient. The time has come for an investment bank, funded at European and national levels, that will be enabled to mobilise risk capital for public and private projects especially at the cutting edge of technology, with a significant risk component, for start-ups in national economies by SMEs, inventors and established corporations. Considerations of state aid should in this context be reined and not allowed to restrict the operations of such a “merchant” banking system. It is increasingly required in Europe, beyond the horizons of the EFSI and the EIB to stimulate entrepreneurship and new productive activity, such as in projects aimed towards sustainable energy, climate as well as infrastructure investments are important for jobs and growth. There should be no reservations about public money assuming its part of risk and then of return, as is happening in other segments of the globalised economy.
Report/resolution number:
129 – A8-0057/2015
Title of report/resolution:
129 – European Investment Bank annual report 2013
Date of sitting:
30/04/2015
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