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DRAFT REPORT (2025/2237(INI))

On the control of the financial activities of the European Investment Bank Group — annual report 2024

CONT-PR-784237

Committee on Budgetary Control · Rapporteur: Dick Erixon

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This draft report on the control of the financial activities of the European Investment Bank Group for 2024 notes stable performance but raises concerns about overdue payments, additionality, and audit gaps. It calls for expanded nuclear and defence financing, results-based reporting, and stricter oversight.

Committee position. The rapporteur proposes a resolution that notes EIB performance, raises concerns about overdue payments and additionality, and calls for expanded nuclear and defence financing, stricter oversight, and transparency.

Key points

  1. Notes stable EIB Group financial performance in 2024 but stresses success must be measured by demonstrable economic outcomes, not volumes signed.
  2. Notes with concern that overdue payments tripled to EUR 281.3 million (0.06% of loan portfolio) in 2024, exceeding the 2% growth in the overall portfolio.
  3. Calls for InvestEU to be assessed on quality and measurable impact, shifting reporting from input-based to impact-based indicators.
  4. Calls on the EIB to expand nuclear energy financing and evaluate low-carbon projects objectively without technology discrimination, respecting Member States' energy mix choices.
  5. Stresses the EIB's contribution to defence and security, calling for funding of all defence projects and removal of barriers to defence and border protection investments.
  6. Calls for structured cooperation with the NATO Innovation Fund to ensure synergies and avoid duplication.
  7. Questions whether EIB financing of purely local housing projects without cross-border dimension represents genuine value for money.
  8. Calls for quantitative risk thresholds and ex post crowding out assessments to prevent crowding out private investment, following Court of Auditors findings on insufficient additionality.
  9. Calls for results-oriented indicators such as CO2 emissions avoided per euro invested and warns that overlapping mainstreaming targets risk impossible portfolio composition.
  10. Insists that lending to non-EU countries be conditional on cooperation with the EU on migration management, including readmission.
  11. Calls for rigorous audit standards and unrestricted oversight of EIB investments outside the EU, and for disclosure of risk assessments and lessons learned from the Northvolt case.
  12. Endorses Contact Committee statement identifying audit gaps, calls for involvement of national supreme audit institutions, and reiterates need for Treaty change to give European Court of Auditors full access to the EIB.

Who is affected

  • European Investment Bank Group: faces calls for expanded nuclear and defence financing, stricter conflict-of-interest rules, and more transparent reporting.
  • Non-EU countries receiving EIB loans: would face conditionality on migration cooperation.
  • National supreme audit institutions: would be involved in auditing the EIB.
  • European Court of Auditors: would gain full access to the EIB if Treaty change occurs.

Figures and deadlines

  • EUR 281.3 million: overdue payments at end of 2024, representing 0.06% of total loan portfolio.
  • EUR 82.4 million: overdue payments at end of 2023, representing 0.02%.
  • 2%: growth in overall loan portfolio, exceeded by increases in non-performing exposures.
  • EUR 1.7 billion: EU guarantee utilised for 38 InvestEU operations in 2024.
  • EUR 942.6 million: EIB lending to Northvolt before its bankruptcy.