European Greens Question EIB Over Signing Of Their Former Vice President

European Greens Question EIB Over Signing Of Their Former Vice President

The group of the Greens of the European Parliament has demanded this Thursday the European Investment Bank (EIB) to make public the analysis of its internal ethics committee that authorized the signing of the Spanish Emma Navarro by Iberdrola three months after leaving office as vice president of the European funding body.

In a letter sent to the president of the EIB, Werner Hoyer, the environmental group transferred to German its “serious concerns” about the arrival of Navarro, a high position in the Ministry of Economy at the time of Luis de Guindos , to a company that “has benefited of various loans ” from the entity in recent years, while the Spanish official” was in charge of supervising the financing operations “of the EIB in Spain.

The Greens recall, in particular, that the Spanish energy company signed two financing agreements with the EIB for € 690 million in 2019 , another for € 600 million in 2020 and recently, in January this year, another agreement for a value of € 100 million. of euros.

“For the sake of transparency in such a sensitive case, we request access to the entire analysis of the Ethics and Compliance Committee (of the EIB) that concluded granting the authorization for Mrs. Navarro’s new position at Iberdrola. We would also like to know what they are. the specific terms and conditions imposed on Mrs. Navarro, “they claim in the letter.

Reputation at stake
In addition, the environmental group has urged the EIB to follow the recommendations of the European Parliament on conflicts of interest and revolving doors and “avoid situations that seriously damage the reputation of the institution.”

The MEP of En Comú Podem and vice president of Los Verdes, Ernest Urtasun , has criticized that the signing of Navarro by Iberdrola Spain “is a case of revolving doors that damages the reputation of the EIB and generates serious ethical doubts about its incorporation.”

“According to the internal regulations of the EIB, the Ethics Committee of the entity must authorize a movement of this type. We want to know what was the evaluation that was made and what restrictions have been imposed in this case,” he explained.