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criteria (see question 20). Projects will be continuously added and removed over time. This
does not mean that every project in the European pipeline should or will be financed in the
context of the Plan (existing instruments could be used too), but it will allow public and
private investors to access relevant and transparent information about projects. The list of
assessed and non-assessed projects should be made available on a website, which in turn
could be connected to similar lists at national and regional level. Expanded and improved
technical assistance will also be put in place, through an advisory investment "Hub".
26. Who is going to ensure the Fund is well run and that public money is well
used?
The EFSI will have clear governance arrangements, ensuring that appropriate checks and
balances are in place. As regards the projects to be financed, an Investment Committee with
dedicated technical experts will validate all projects, subject to investment guidelines. The
guidelines will make sure that funding will be used for viable and strategic projects with a
European interest, in the areas of infrastructure, renewable energy, education and research.
27. What will be the role of the European Parliament?
The European Parliament is a key partner in bringing Europe back to growth. The exact
accountability arrangements will of course be discussed with the European Parliament. In
addition to the EIB’s general reporting obligations, the Parliament could for example
regularly invite a high-level representative of the EFSI to report on the Fund’s activities. The
relevant Vice-Presidents and European Commissioners, responsible for the different areas of
activities of the Fund, as well as EIB representatives, should also regularly report to the
European Parliament’s relevant Committees.
28. What is the role of the Court of Auditors?
The Court of Auditors will exercise is audit rights on the use of EU Budget funds by the EIB,
as foreseen by Article 287 of the Treaty on the Functioning of the European Union (TFEU).
This is not unchartered territory but standard practice. There is already a tripartite
agreement between the Court of Auditors, the EIB and the Commission on the modalities of
implementation of these controls.
The EIB also has its own audit committee and is subject to an external audit, which cover the
activities of the EIB financed by its own funds.
29. How will technical assistance be strengthened to improve project
preparation and share experience? And what if I am aware of a promising
project and would like to apply for funding?
As part of the Investment Plan, a dedicated one stop shop, an investment advisory "Hub", is
being put in place, building on existing technical assistance provided by the Commission and
the EIB (see question 25). The objective is to ensure that relevant experience from across
Europe is shared, that project promoters and investors are brought together and can easily
access all information they need about viable, available projects and financing options
through a single first point of contact.
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does not mean that every project in the European pipeline should or will be financed in the
context of the Plan (existing instruments could be used too), but it will allow public and
private investors to access relevant and transparent information about projects. The list of
assessed and non-assessed projects should be made available on a website, which in turn
could be connected to similar lists at national and regional level. Expanded and improved
technical assistance will also be put in place, through an advisory investment "Hub".
26. Who is going to ensure the Fund is well run and that public money is well
used?
The EFSI will have clear governance arrangements, ensuring that appropriate checks and
balances are in place. As regards the projects to be financed, an Investment Committee with
dedicated technical experts will validate all projects, subject to investment guidelines. The
guidelines will make sure that funding will be used for viable and strategic projects with a
European interest, in the areas of infrastructure, renewable energy, education and research.
27. What will be the role of the European Parliament?
The European Parliament is a key partner in bringing Europe back to growth. The exact
accountability arrangements will of course be discussed with the European Parliament. In
addition to the EIB’s general reporting obligations, the Parliament could for example
regularly invite a high-level representative of the EFSI to report on the Fund’s activities. The
relevant Vice-Presidents and European Commissioners, responsible for the different areas of
activities of the Fund, as well as EIB representatives, should also regularly report to the
European Parliament’s relevant Committees.
28. What is the role of the Court of Auditors?
The Court of Auditors will exercise is audit rights on the use of EU Budget funds by the EIB,
as foreseen by Article 287 of the Treaty on the Functioning of the European Union (TFEU).
This is not unchartered territory but standard practice. There is already a tripartite
agreement between the Court of Auditors, the EIB and the Commission on the modalities of
implementation of these controls.
The EIB also has its own audit committee and is subject to an external audit, which cover the
activities of the EIB financed by its own funds.
29. How will technical assistance be strengthened to improve project
preparation and share experience? And what if I am aware of a promising
project and would like to apply for funding?
As part of the Investment Plan, a dedicated one stop shop, an investment advisory "Hub", is
being put in place, building on existing technical assistance provided by the Commission and
the EIB (see question 25). The objective is to ensure that relevant experience from across
Europe is shared, that project promoters and investors are brought together and can easily
access all information they need about viable, available projects and financing options
through a single first point of contact.
12
