The ECR Group welcomes the adoption by the European Parliament of the report on the control of the financial activities of the European Investment Bank (EIB), led by its rapporteur Dick Erixon, as a clear step towards stronger scrutiny, greater transparency and a renewed focus on delivering genuine value for European taxpayers.

For the ECR Group, the vote marks an important step towards ensuring that the EIB remains a credible and responsible financial institution at a time when its role continues to expand.

Presenting the report in plenary, Erixon underlined the broader challenge facing Europe’s investment model, saying:

“Europe lacks risk capital, especially private and commercial capital.

“While the United States tends to focus on growth and innovation, Europe chooses a perspective of caution characterised by regulation and the status quo.”

While recognising the important role of the EIB and the European Investment Fund in filling financing gaps, Erixon cautioned against the risks inherent in relying on public money for high-risk investments. The Swedish MEP highlighted the case of the failed battery producer Northvolt as a warning sign and called for a thorough review of risk assessment practices, particularly in politically sensitive sectors such as green investments.

“We call for a proper evaluation of how risk assessment is carried out in green investments”, he said.

The report also reinforces key principles for the future direction of the EIB. It stresses the importance of technological neutrality, including the possibility to invest in fossil-free nuclear energy, and calls for stronger links between external financing and migration cooperation with third countries.

“The report also highlights that, in its cooperation with non-EU countries, the EIB must be able to include requirements for those countries to take back migrants who do not have the right to remain in the EU”, Erixon said.

A central pillar of the report is the demand for significantly improved transparency and oversight. The European Parliament has pushed for full audit access for the European Court of Auditors and underlines the need to bring the EIB in line with other international financial institutions.

Erixon also emphasised the fundamental question that should guide all EU spending, saying:

“The EIB needs to ask itself, as we in Sweden usually put it: ‘What the hell do we get for the money?’”

Beyond governance, the report recognises the EIB’s role in supporting Europe’s defence and security capabilities, while calling for a sharper focus on projects with clear cross-border European added value.

“Added value’ must become a key concept for the Union when evaluating all economic investments”, Erixon said.

At the same time, the report acknowledges the EIB’s solid financial performance in 2024, including its top-tier credit rating, while underlining that strong results must go hand in hand with robust accountability.

The report was adopted with 377 votes in favour, 254 against, and 31 abstentions.