What changed between the draft committee report and the plenary report

Change 11

Changed:12.21. Welcomes the EIB’s climate and environmental investments, which totalled EUR 50.7 billion in 2024, exceeding the target of channelling at least 50 % of total financing tointo climate action and environmental sustainability; calls on the EIB to uphold its high level of ambition, while emphasising that this commitment enhances the Union’s competitiveness, energy security and industrial resilience;

Change 12

Removed:13. Welcomes the EIB’s investments in renewable energy, energy efficiency, and electricity grids and storage, including its support for REPowerEU;

Added:22. Recalls that the green transition must be inclusive, fair and competitive, and that green investments must be viable; expects the EIB, therefore, to leverage its lending, financial instruments, technical assistance and advisory services to support citizens and businesses that face socio-economic challenges deriving from their efforts to achieve climate neutrality by 2050; stresses the need to support industrial restructuring, workforce reskilling, and the creation of new employment opportunities in affected regions; invites the EIB to support projects delivering affordable access to renewable energy, housing and public services, community-led initiatives and small projects with a particular focus on fighting energy poverty as a priority;

Removed:14. Stresses the need for increased investment in climate adaptation and resilience; encourages further research and development, including of innovative technologies, for climate preparedness;

Added:23. Welcomes the EIB’s investments in renewable energy, energy efficiency, interconnectors, and electricity grids and storage, including its support for REPowerEU; underlines the importance of focusing on projects with high economic impact and measurable climate benefits; calls on the EIB to play a role in mobilising private capital for grid investments in support of lower energy prices; acknowledges, in particular, the increased investment in emerging technologies for industrial electrification and decarbonisation, recognising their role in supporting the transition to climate neutrality by reducing emissions from hard-to-abate industrial sectors, while expressing concern about their potential impact on the water supply in certain regions;

Removed:Addressing challenges in social infrastructure, cohesion policy and housing

Added:24. Stresses the importance of addressing high energy costs in the EU to enhance the competitiveness of European companies; points out that a stable energy supply at competitive prices is one of the foundations of a successful industrial policy; calls on the EIB Group to especially support SMEs facing energy-related cost pressures, including through targeted financing and advisory services to improve energy efficiency and resilience; calls on the EIB to continue to support energy-intensive industries, in order to ensure that this highly strategic sector is in a position to successfully manage the energy transition;

Removed:15. Welcomes the EIB’s core strategic priorities to reinforce Europe’s social infrastructure and a modern cohesion policy for inclusive and sustainable growth across Europe;

Added:25. Notes that, in a world full of uncertainty, investments should be focused on the EU’s preparedness to face shocks; stresses the need for increased investment in climate adaptation and resilience; encourages further research and development, including of innovative technologies, for climate preparedness; calls for access to finance for SMEs in innovative green technologies to be enhanced; recalls that clean technology strengthens EU sovereignty and is essential for competitiveness, yet faces even greater funding challenges due to the green premium compared to incumbent technologies; highlights the Draghi report’s call for more public guarantee and counter-guarantee schemes to cover the investment risks of clean technology manufacturing projects;

Removed:16. Calls on the EIB to step up investments in education, training, upskilling and reskilling, and health, in line with the Draghi report;

Added:26. Recalls that the EIB was the first issuer of green bonds and is now the largest multi-currency issuer of green bonds; welcomes the fact that on 2 April 2025 the EIB issued its first Climate Awareness Bond aligned with the EU Green Bond Standard Regulation; highlights the key role of the EIB in developing the green-bond market, providing financing solutions to sustainable companies; calls on the Commission and the EIB Group to maintain the EU’s leadership in green and digital bonds;

Removed:17. Welcomes the EIB’s commitment to addressing the double market failure in the housing sector, including the insufficient provision of decent, safe, and energy-efficient housing, as well as the market failure to close the energy efficiency gap;

Added:27. Recalls the EIB’s commitment to the Convention on Biological Diversity and the post-2020 Global Biodiversity Framework and supports the EIB’s investments in biodiversity protection and the preservation of natural resources; welcomes the EIB and European Environment Agency agreement to deepen their collaboration on biodiversity and climate actions; emphasises that, in order to achieve the long-term benefits of restoration, conservation and protection of biodiversity and nature, attractive financing schemes should be made available to potential beneficiaries to engage in such practices on a voluntary basis;

Removed:18. Welcomes the EIB’s ‘Action Plan for Affordable and Sustainable Housing’ with planned investments of EUR 10 billion over the next two years; draws attention to the outcome of the EIB Group analysis and stakeholder meeting, which highlighted an estimated annual investment gap of EUR 300 to 400 billion needed to build 1.5 million new housing units and to renovate 5 million additional units annually;

Financing peace, security and defence

Change 13

Changed:19.28. Welcomes the EIB’s proactive approach in the area of security and defence; highlights the fact that investment in this sector doubled in 2024 to EUR 1 billion, with the EIB’s 2025 plan set to double it again to a record EUR 2 billion; stresses that European-levelgreater funding,EIB basedinvestment onin solidarity,the defence sector can encourage commercial banks’ investment in the sector; notes, however, that these amounts represent less than 1.1 % of EIB investments for 2024 (EUR 88.8 billion), and 2.2 % of its financing objectives for 2025 (EUR 95 billion) and emphasises that they can only play a complementary role in addressing the estimated EUR 33.6 billion to EUR 48 billion in new financing required by 2030 for defence companies to meet the increase in orders expected under the ReArm Europe / Readiness 2030 plan; stresses that European-level funding is essential to meet the significant funding needs of Member States; underlines that any future structural European defence funding must be designed with clear conditions set and strong oversight, drawing on lessons learned from existing instruments;

Change 14

Removed:20. Welcomes the EIB’s plan to revise its operational framework, establishing a dedicated transversal public policy goal to enhance Europe’s peace and security, backed by ambitious financial and capital allocation;

Added:29. Supports the EIB’s continued and strengthened role in bolstering Europe’s security through targeted investments in both defence and civilian infrastructure, and stresses the need to concentrate strategic investments in projects delivering European added value and in dual-use technologies that contribute to both civilian and defence objectives, in line with the EU’s overarching goals of fostering innovation and enhancing the Union’s security and resilience; stresses that effective defence innovation depends on close collaboration between academia, research institutions and private industry, and encourages the EIB to act as a catalyst in structuring long-term public-private partnerships through targeted financial instruments;

Removed:21. Warns that any adjustment to the EIB Group’s eligibility criteria or funding to align with new priorities must safeguard the Group’s financial position and ensure effective financing of other EU strategic priorities;

Added:30. Welcomes the EIB’s plan to revise its operational framework, establishing a dedicated transversal public policy goal to enhance Europe’s peace and security, backed by ambitious financial and capital allocation; supports, therefore, the EIB Board decision of 21 March 2025 to integrate the EIB’s 2022 Strategic European Security Initiative (SESI) into a permanent, cross-cutting public policy objective, complementing the existing public policy goals; underlines, however, that any activities in the field of defence must be subject to appropriate financial parameters, regular risk assessment and transparent oversight and must be accompanied by strong risk management procedures;

Added:31. Welcomes the joint initiative of the Commission and the EIB Group to set up, via its subsidiary EIF, a fund of funds called the Defence Equity Facility, with a budget of EUR 175 million between 2024 and 2027, to support private investment in European SMEs developing innovative dual-use defence technologies, and to help address the equity financing needs of companies in the EU’s defence technological and industrial base, estimated at between EUR 6.8 billion and EUR 20 billion by 2030, to meet the increase in orders anticipated under the ReArm Europe / Readiness 2030 plan;

Added:32. Acknowledges the EIB Board decision of 21 March 2025 to broaden the EIB Group’s eligibility criteria for security and defence investments, limiting excluded activities, in accordance with the proposals approved by EU leaders at the European Council on 6 March 2025, as well as the approval of the EIB Group Security and Defence Action Plan in May 2024, aimed at enhancing support for the EU’s security and defence industry; notes that, under that plan, the EIB Group provides financing to SMEs and innovative start-ups operating in the security and defence sector in line with the dual-use principle, maintaining the requirement of ‘credible civil use’ while discontinuing the revenue test;

Added:33. Takes note of the EIB Board decision of 21 March 2025 that there will be no fixed ceiling for security and defence investments, with funding amounts to be determined annually in the EIB Group Operational Plan; asks the EIB to clarify the potential implications of that decision for other policy areas and the overall operations of the EIB;

Added:34. Suggests that the EIB should continuously reflect on and evaluate its role, as well as the scope of eligible investments, in contributing to Europe’s peace and security as outlined in the Commission’s white paper on the future of European defence, particularly in the light of the pressing need to scale up the European defence sector and ensure long-term security and strategic autonomy; warns that any adjustment to the EIB Group’s eligibility criteria or funding to align with new priorities must safeguard the Group’s financial position and ensure effective financing of other strategic EU priorities;

Added:Addressing challenges in social infrastructure, cohesion policy and housing

Added:35. Welcomes the EIB’s core strategic priorities to reinforce Europe’s social infrastructure and a modern cohesion policy for inclusive and sustainable growth across Europe; appreciates that in its Cohesion Orientation 2021-2027, the EIB committed to dedicating at least 40 % of its total financing in the EU between 2022 and 2024 to projects in cohesion regions, and that in 2024, such financing accounted for 48 % of total EU lending; calls on the EIB to continue to support infrastructure development, including investments in railways, healthcare and social infrastructure, which are crucial for social and economic cohesion, resilience and inclusive growth; underlines that, amid the geopolitical and economic uncertainties, the EIB can provide long-term solutions to address the cost of living crisis;

Added:36. Highlights the crucial role of skills development in driving long-term sustainable growth, employment and competitiveness in the EU; underlines that financing initiatives aimed at boosting human capital not only foster innovation and productivity and address labour market needs, but also strengthen social cohesion and economic resilience; calls on the EIB to step up investments in education, training, upskilling and reskilling, and health, in close coordination and cooperation with Member State initiatives in those areas, aiming to complement and enhance their impact;

Added:37. Welcomes the EIB’s commitment to addressing the challenge of the double market failure in the housing sector, including the insufficient provision of affordable and energy-efficient housing, as well as the market failure to increase the energy efficiency of the existing housing stock; notes the differences between Member States in both policies and the magnitude of the aforementioned market failures;

Added:38. Welcomes the EIB’s ‘Action Plan for Affordable and Sustainable Housing’ with planned investments of EUR 10 billion over the next two years; draws attention to the outcome of the EIB Group analysis and stakeholder meeting, which highlighted an estimated annual public and private investment gap of EUR 300 billion to 400 billion needed to build 1.5 million new housing units and to renovate 5 million additional units annually; encourages the EIB to mobilise even more funding for affordable housing projects throughout the Member States; invites the EIB to focus on sustainable urban development by ensuring that the EU’s housing and infrastructure needs are met for a stronger, sustainable, more cohesive and prosperous Europe, including investments in recovering existing infrastructure, with a focus on supporting urban regeneration projects and projects converting old or abandoned buildings into modern social housing;

Added:39. Calls on the EIB to take into account the differentiated burden of housing costs on different income groups and family structures, especially as some low-income groups are at risk of marginalisation; encourages the EIB to collaborate with other European public investment banks, local public financial institutions, local governments, and cooperative and social housing companies to finance housing solutions for vulnerable and low-income groups; welcomes the EIB’s intention to increase its focus on R&I in the area of housing;

Added:40. Calls on the EIB to scale up financial support through the deployment of standardised off-the-shelf financial products in energy and building renovation; highlights the fact that the EIB’s ‘originate-to-distribute’ model, channelling the savings of institutional investors, is an innovative model that could contribute to the integration of EU capital markets;

Added:41. Welcomes the EIB’s intention to expand financial and advisory support for affordable housing, especially for younger generations; encourages close synergy and exchange with the Commission, municipalities and local authorities, cooperative housing providers, housing associations and the construction sector, exchanging best practice and promoting pan-European cooperation; invites the EIB to support projects delivering affordable access to renewable energy, housing and public services, community-led initiatives and small projects with a particular focus on fighting energy poverty;

Added:42. Welcomes the EIB Group’s inclusion of agriculture and bioeconomy among its key priorities; underlines that agriculture is a key driver of growth and development in rural areas and that enhancing support and fostering innovation for this vital sector play a significant role in ensuring food security; highlights the financial challenges faced by farmers, particularly young farmers, noting that farmers and enterprises in this sector experience lower success rates when applying for financing; calls on the EIB Group to increase its involvement in the agricultural sector by improving access to funding;

Added:43. Calls on the EIB to intensify its efforts to promote youth employment, particularly by supporting projects and programmes that foster youth entrepreneurship, access to employment, vocational training and innovation, in order to contribute to fairer and more inclusive territorial development and to help curb brain drain, especially in the EU’s island regions and economically disadvantaged areas;

Added:Promoting the digital transformation and new technologies

Added:44. Calls on the EIB to strengthen financing for the EU’s open strategic autonomy in the digital field and to promote research, support the development of European digital infrastructure, foster new and disruptive technologies such as AI and quantum computing, and enable the growth of digital start-ups; underlines the importance of bridging digital divides, both within the EU and globally, to ensure inclusive access to digital infrastructure and services; highlights the importance of aligning EIB digital investments with EU strategic priorities such as the Digital Decade targets, including connectivity, digital skills and the digital transformation of businesses;

Added:45. Supports the EIF’s expansion of the European Tech Champions Initiative (ETCI) to attract private capital to scale up innovative start-ups into successful global leaders, ensuring that European-founded companies and technologies remain in the EU through the late growth stage; highlights the need for the deployment of the current ETCI to be accelerated in order to keep up with the pace of innovation and start-ups; calls, furthermore, for the successful experience of the ETCI to be built on to develop other similar initiatives to continue supporting the digital transition and other strategic sectors, and encourages the EIF to explore setting up a second generation of this initiative as well as to explore the possibility of investing in funds of funds;

Added:46. Underlines that institutional investors in Europe could play a bigger role in supporting venture capital, especially for scale-ups; urges the EIB Group therefore to create an European Tech Forum, bringing together the venture capital ecosystem, to engage institutional investors following the model of the Tibi initiative; calls on the EIB to offer opportunities for such investors to build their expertise and opt in to co-investment schemes between the EIF and institutional investors, on transparent and pre-agreed terms;

Added:47. Highlights the fact that the Clean Industrial Deal aims to develop a TechEU programme with the EIB; stresses the importance of ensuring that this fund has a specific allocation target for start-ups and scale-ups;

Added:48. Calls on the EIB to support the strengthening of cybersecurity capabilities in the EU, in order to make Europe more resilient while enhancing existing cooperation between the Member States and in order to protect critical entities and essential services;

Added:49. Highlights the fact that the security of supply of critical raw materials (CRMs) is crucial for the green and digital transitions, the defence sector and the EU industrial base in general; recalls the role played by the EIB in the EU Raw Materials Alliance and the Union’s aim of becoming more autonomous as regards the CRM supply; emphasises the importance of a circular economy approach to CRMs, in order to reduce the EU’s dependence on non-EU countries and boost its strategic autonomy; calls, therefore, on the EIB to invest more in the CRM sector to enhance resilience in raw materials with a particular focus on the recycling of secondary raw materials;

Added:50. Calls on the EIB to support the technological transformation of European companies, as well as the development of digital skills among employees and entrepreneurs;

EIB neighbourhood and Global Gateway

Change 15

Changed:22.51. Welcomes the EIB’s vital support for Ukraine in the light of Russia’s full-scalefull-scale, unjustified and illegal war of aggression; calls for an increase in EU budget guarantees to allow the EIB to continue to deliver and strengthen public and private sector operations in Ukraine;Ukraine, supporting Ukraine’s immediate economic challenges, but also envisaging the reconstruction of the country over the medium to long term;

Change 16

Removed:23. Welcomes the EIB’s role in the Global Gateway as crucial for Europe’s global position and for promoting the rules-based multilateral system, sustainable development, democracy, human rights and the rule of law;

Added:52. Emphasises that, to decrease dependence on non-EU countries, the deployment of resilient European-controlled infrastructure, among others in the domains of satellite communications, energy and logistics, is essential;

Added:53. Stresses the important role that the EIB plays in supporting Members States and countries outside the EU, particularly candidate countries, in obtaining access to risk capital markets, thus expanding investment opportunities;

Added:54. Stresses that, as part of the EU’s external action toolbox, the Global Gateway is crucial for Europe’s global position and aims to promote the rules-based multilateral system, sustainable development, democracy, human rights, gender equality and the rule of law; welcomes the EIB’s role, as the EU’s leading development bank, in this regard; recalls the importance of predictable guarantees from the EU budget to enable the EIB to continue delivering operations outside the EU;

Added:55. Calls for enhanced transparency and disclosure practices in line with other multinational development banks, along with the establishment of an independent complaints mechanism that can effectively address and remedy grievances; underlines the need for effective mechanisms to ensure the participation of, and accountability to, communities affected by EIB-financed projects to ensure that Global Gateway projects are responsive to local needs, are gender-sensitive and deliver meaningful developmental results; emphasises the importance of public participation, in particular in the EIB’s planning, appraisal and monitoring processes for CRMs, including the Free Prior Informed Consent (FPIC) of Indigenous communities, as provided for in the UN Declaration on the Rights of Indigenous Peoples;

Added:56. Reiterates its call for EIB Global to focus blending operations on areas where they can add value to the local economy while avoiding the crowding out of private capital and to ensure that blended finance is not used for essential public services, particularly health, education and social protection; recalls that EU development policy goals, and in particular the goal of enhancing affordable access to healthcare, should guide EIB investments in the field, to ensure better health outcomes for all, and in particular for women;

Added:57. Expects the EIB’s global activities to also respond swiftly to evolving realities and urgent needs; highlights the gap in development aid financing resulting from the US aid freeze and the reduction of funding towards the Global South; calls for concrete initiatives to prevent humanitarian or health crises, to support pan-African trade, infrastructure and regional integration, and strengthen ties with Europe; welcomes EIB Global’s intention to scale up higher-risk operations, enabled by the mandate of the Development and International Cooperation Instrument – Global Europe (NDICI-Global Europe);

Added:58. Expresses concern over reports that some EU-funded projects outside the EU, including under the Global Gateway, are being built by Chinese companies, with Chinese firms at times winning more EIB-funded contracts than EU firms; urges the Commission to ensure a level playing field by working with the EIB to boost European company participation; recommends procurement practices that prioritise best price/quality ratio over lowest price to promote fair competition and align with EU values;

Added:59. Welcomes the efforts of the EIB, together with nine other multilateral development banks, to strengthen their collaboration in advancing progress towards the SDGs; calls on the EIB to continue cooperating with other bilateral and multilateral institutions to develop and apply common methodologies for development impact analysis, with a view to ensuring long-term positive impacts and added value;

Added:60. Welcomes the EIB’s announcement to step up support for sectors such as water supplies, small businesses, renewable energy and energy efficiency, as well as to further reinforce partnerships within Europe and globally, including with private actors, to deliver maximum impact on the ground;

Governance: accountability and transparency

Change 17

Changed:24.61. Stresses that the EIB’s growing role should be accompanied by greater democratic accountability and transparency; including more timely publication of project-related documents; reiterates its call for an interinstitutional agreement between Parliament and the EIB;EIB to formalise and enhance their existing cooperation, including through regular structured dialogue, improved Parliament access to EIB documents and data, and the possibility for Parliament to submit questions for written answers to the EIB, as already provided for the European Central Bank; in this context, asks the EIB to provide Parliament with a clear, simplified overview of EU budget contributions to its balance sheet, off-balance sheet, and profit and loss account;

Change 18

Removed:25. Welcomes the 2024 Framework for recognition of trade unions at the European Investment Bank;

Added:62. Highlights the importance of the EIB ensuring full transparency and traceability of projects funded, including more detailed information, to enable proper oversight by all relevant stakeholders, including civil society organisations, rather than solely by the ministries responsible; recalls that all recipients of EU funding have a general obligation to acknowledge its origin and ensure the visibility of any EU funding received; calls on the EIB Group to ensure that the final recipients comply with the visibility conditions of the EU’s financial support;

Removed:26. Welcomes the EIB’s principles of diversity, equity and inclusion, including the target of at least 40 % of management positions being held by women by the end of 2026;

Added:63. Invites the EIB to boost the participation of European companies in procurement processes launched for projects financed by the EIB; encourages the EIB to advise borrowers to prioritise eligibility of European companies in order to strengthen European competitiveness;