Amendments tabled by the ESN Group in the European Parliament on 1 July 2026 would fundamentally reorient the European Investment Bank (EIB) towards a strict, minimalist role, warning against expansion that could crowd out private investment, serve as a vehicle for fiscal integration, or undermine national sovereignty. The three amendments, proposed by MEPs Sarah Knafo, Marcin Sypniewski, Stanisław Tyszka, and Alexander Jungbluth, target the EIB's growing role in defence financing, its potential use for de facto budgetary mutualisation, and the general expansion of its lending volumes and mandate. They are proposed changes to the report by Joachim Streit on the financial activities of the EIB Group (A10-0170/2026).
Amendment 11 would insert a new paragraph defining the EIB as a complementary instrument of last resort, explicitly warning against any expansion of its mandate or financing volumes that would crowd out private investment. This directly challenges the current trajectory of the EIB, which has been tasked with scaling up investments in strategic sectors like climate, innovation, and defence. Amendment 12 warns against using the EIB as a mechanism for de facto budgetary mutualisation or for financing EU own resources outside the normal budgetary procedure, demanding that any reinforcement of the EIB's role under the next Multiannual Financial Framework be subject to full parliamentary scrutiny. This targets the growing practice of using the EIB to manage EU-level funds and guarantees, which the ESN views as a backdoor to fiscal union. Amendment 13 insists that EIB financing in the defence and security sector must fully respect Member States' sovereignty over their defence procurement and industrial strategies, stipulating that EIB support for defence must prioritise European industrial sovereignty and the reduction of strategic dependencies.
The amendments, if adopted, would have significant impacts on stakeholders. For the EIB itself, the restrictions would curtail its ability to expand lending and take on new strategic roles, potentially reducing its influence and operational scope. EU member states would retain greater control over defence financing and fiscal policy, but could lose a potential source of investment for strategic projects. Private investors might benefit from reduced crowding out, but could face a gap in financing for large-scale infrastructure or defence initiatives that the EIB currently supports. The European Commission and other EU institutions would see a check on using the EIB as a tool for deeper integration, limiting options for fiscal coordination. The amendments are still to be examined and voted in committee and plenary; they do not yet represent the Parliament's position.