European Investment Bank (Hansard, 23 March 2001)

§ Mr. Flight
To ask the Chancellor of the Exchequer if he supported the recent conversion of the venture capital division of the European Investment Bank to the European Investment Fund; and what the reasons were for the change. [151754]

§ Miss Melanie Johnson
The transfer of the EIB' s venture capital operations to the EIF was part of a rationalisation of activities in the context of the
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acquisition by the bank of a majority shareholding in the EIF. The EIF is now the venture capital arm of the EIB Group. The UK supported this and is one of the main beneficiaries of its financing activities.

§ Mr. Flight
To ask the Chancellor of the Exchequer if he will list the priorities of the European Investment Bank; what his policy is on them; and what other priorities Her Majesty's Government have been pressing the bank to take on board. [151750]

§ Miss Melanie Johnson
The task of the EIB is set out in Article 267 of the EC Treaty.

§ Mr. Flight
To ask the Chancellor of the Exchequer which meetings of the European Investment Bank and the European Investment Fund are open to citizens from the European Union. [151756]

§ Miss Melanie Johnson
Meetings of the governing bodies of the EIB and EIF are not open to the public.

§ Mr. Flight
To ask the Chancellor of the Exchequer which European Union institution is responsible for overseeing the accounting practices of the European Investment Bank; what authority, in this regard, is held by the European Court of Auditors; on what grounds the European Court of Auditors can access the financial records of the European Investment Bank; when this has been done; and for what reason. [151753]

§ Miss Melanie Johnson
The accounting practices of the EIB are overseen by an independent Audit Committee which is accountable directly to the Board of Governors (EU Finance Ministers). The Court of Auditors has access to the bank, in accordance with an agreement under Article 248 of the Treaty.

§ Mr. Flight
To ask the Chancellor of the Exchequer if he will list the projects and the companies involved that have benefited from investment by the European Investment Bank in the last 10 years; and if he will make a statement. [151752]

§ Miss Melanie Johnson
The information requested is available in the Annual Reports of the EIB. The report for 1999 is available in the Library; the report for 2000 will be published in the summer.

§ Mr. Flight
To ask the Chancellor of the Exchequer what the value is of the European Investment Fund; what percentage of shares in the EIF is held by the European Investment Bank; what other shareholders there are in the European Investment Fund; and what proportions of the fund they hold. [151755]

§ Miss Melanie Johnson
This information is available on the EIF' s website at www.eif.org

§ Mr. Flight
To ask the Chancellor of the Exchequer in each of the last 10 years, what proportion of investment made by the European Investment Bank was made(a) within the EU, (b) within accession countries and (c) outside those countries. [151751]

§ Miss Melanie Johnson
This information is available in the Annual Reports of the EIB. The report for 1999 is in the Library. The report for 2000 will be published in June. The hon. Gentleman may also refer to EIB' s website at www.eib.org.
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§ Mr. Flight
To ask the Chancellor of the Exchequer how much money the UK has contributed to the European Investment Bank in each of the last 10 years; and if he will make a statement. [151749]

§ Miss Melanie Johnson
Between 1991 and 1996 the UK paid 145,834,734 euros in direct subscriptions to the EIB. Since 1996, no payments have been made by member states to the EIB.