EIB: going in the right direction to support European growth

European Parliament approves 2011 EIB Annual Report

"Without strong and sustainable growth, our future is less certain, and the social models of each European country will be unsustainable. To achieve our dream of a fair Europe, with quality and well paid jobs, with full employment, we must be more productive. Without adequate measures, Europe will remain further behind other countries in the world, and it will not quickly recover those jobs lost during the crisis", commented Mario Mauro MEP, Rapporteur on the Annual Report 2011 of the European Investment Bank approved this morning by the European Parliament in Strasbourg by a large majority.

"The Report called for the EIB to finance a larger number of companies and projects essential for economic recovery so an increase in the EIB capital approved by the 27 Member States, which will increase the lending capacity of the EIB to more than €60 billion, is very positive."

The Report adopted today by the plenary analyses the EIB's activities for 2011, highlighting the strengths and weaknesses and at the same time proposing a set of priorities for the following years.

By adopting the Report, the European Parliament has given a strong signal indicating where to aim to promote growth in Europe. Particular attention was paid to the financing of SMEs and the social economy, also pointing to a reduction of regulatory burdens and increased transparency in the management of funds.

"I think it is necessary, among other things, to focus on investments in the countries of the Mediterranean and the EIB is called upon to do its part by funding investments in infrastructure, SMEs and in the fight against climate change, primarily to support countries that are making progress on the grounds of political and economic reforms", concluded Mario Mauro MEP.

(Translation from the original Italian)