BETA

32 Amendments of Andrey NOVAKOV related to 2015/0009(COD)

Amendment 25 #
Proposal for a regulation
Recital 2
(2) Comprehensive action is required to reverse the vicious circle created by a lack of investment. Structural reforms and fiscal responsibility are necessary preconditions for stimulating investment, although there is room for flexibility in order to provide incentives for creating an investment inducing environment in all Member States. Along with a renewed impetus towards investment financing, these preconditions can contribute to establishing a virtuous circle, where investment projects help support employment and demand and lead to a sustained increase in growth potential.
2015/03/06
Committee: REGI
Amendment 99 #
Proposal for a regulation
Article 2 – paragraph 2 – subparagraph 2
To meet that objective, the EIAH shall use the expertise of the EIB, the Commission, technical assistance experts, national promotional banks and the managing authorities of the European Structural and Investment Funds.
2015/03/06
Committee: REGI
Amendment 170 #
Proposal for a regulation
Article 12 – paragraph 4
4. The EIB and EIF shall on a regular basis provide the European Parliament, the Council and the Commission with all their independent evaluation reports which assess the practical results achieved by the specific activities of the EIB and EIF under this Regulation, focusing on outcomes and impacts.
2015/03/24
Committee: CONT
Amendment 172 #
Proposal for a regulation
Article 12 – paragraph 5
5. At the latest [PO insert date three years after the entry into force of this Regulation], the Commission shall submit a report to the European Parliament and the Council on the application of this Regulation, including assessment of the value added of the EFSI and its additionality to existing EU funding instruments, accompanied by any relevant proposal for improvements.
2015/03/24
Committee: CONT
Amendment 202 #
Proposal for a regulation
Recital 11
(11) The EFSI should support strategic investments with high economic and societal value added contributing to achieving Union policy objectives in synergy and additionality with existing EU operations, including the 2014-2020 cohesion policy. The EFSI should improve the competitiveness of the European enterprises through enhancing the access to funding, supporting innovation and research, and lead to the enhancement of the regulatory environment.
2015/03/19
Committee: BUDGECON
Amendment 266 #
Proposal for a regulation
Recital 14
(14) The EFSI should target projects delivering high societal and economic value. In particular, the EFSI should target projects that promocreate job creations, long- term growth, innovation and competitiveness. The EFSI should support a wide range of financial products, including equity, debt or guarantees, to best accommodate the needs of the individual project. This wide range of products should allow the EFSI to adapt to market needs whilst encouraging private investment in the projects. The EFSI should not be a substitute for private market finance but should instead catalyse private finance by addressing market failures so as to ensure the most effective and strategic use of public money. The requirement for consistency with State aid principles should contribute to such effective and strategic use.
2015/03/19
Committee: BUDGECON
Amendment 297 #
Proposal for a regulation
Recital 15
(15) The EFSI should target projects with a higher risk-return profile than existing EIB and Union instruments to ensure additionality over existing operations. The EFSI should finance projects across the Union, including in the countries most affected by the financial crisis through geographically and sector balanced strategic investments. The EFSI should only be used where financing is not available from other sources on reasonable terms.
2015/03/19
Committee: BUDGECON
Amendment 338 #
Proposal for a regulation
Recital 17
(17) Decisions on the use of the EFSI support for infrastructure and large mid- cap projects should be made by an Investment Committee. The Investment Committee should be composed of independent experts who are knowledgeable and experienced in the areas of investment projects. The Investment Committee should be accountable to an independent Steering Board of the EFSI, who should supervise the fulfilment of the EFSI's objectives. To effectively benefit from the experience of the EIF, the EFSI should support funding to the EIF to allow the EIF to undertake individual projects in the areas of small and medium enterprises and small mid-cap companies.
2015/03/19
Committee: BUDGECON
Amendment 372 #
Proposal for a regulation
Recital 19
(19) In order to allow for further increase in its resources, participation in the EFSI should be open to third parties, including Member States, national promotional banks or public agencies owned or controlled by Member States, private sector entities and entities outside the Union subject to the consent of existing contributors. Third parties may contribute directly to the EFSI and take part in the EFSI governance structureco-finance operations.
2015/03/25
Committee: BUDGECON
Amendment 413 #
Proposal for a regulation
Recital 23
(23) Given the need for urgent action within the Union, the EIB and the EIF may have financed additional projects, outside of their usual profile, in the course of 2015 before the entry into force of this Regulation. In order to maximise the benefit of the measures provided for in this Regulation, it should be possible for such additional projects to be included within the EU guarantee coverage in the event that they fulfil the substantive criteria set out in this Regulation.deleted
2015/03/25
Committee: BUDGECON
Amendment 431 #
Proposal for a regulation
Recital 25
(25) The EIB should regularly evaluate activities supported by the EFSI with a view to assessing their relevance, performance, additionality to EU funding instruments, value added and impact and to identifying aspects that could improve future activities. Such evaluations should contribute to accountability and analysis of sustainability.
2015/03/25
Committee: BUDGECON
Amendment 449 #
Proposal for a regulation
Recital 26
(26) Alongside the financing operations that will be conducted through the EFSI, a European Investment Advisory Hub ('EIAH') should be created. The EIAH should provide strengthened supportdecentralised on the ground and strengthened technical assistance for project development and preparation across the Union, by building on the expertise of the Commission, the EIB, national promotional banks and the managing authorities of the European Structural and Investment Funds. This should establish a single point of entry for questions related to technical assistance for investments within the Union. EIAH should add value to and coordinate with existing technical assistance facilities.
2015/03/25
Committee: BUDGECON
Amendment 454 #
Proposal for a regulation
Recital 27
(27) In order to cover the risks related to the EU guarantee to the EIB, a guarantee fund should be established. The guarantee fund should be constituted by a gradual payment from the Union budget. The guarantee fund should subsequently also receive revenues and repayments from projects that benefit from EFSI support and amounts recovered from defaulting debtors where the guarantee fund has already honoured the guarantee to the EIB. Revenues and repayments from operations should only recover the initial guarantee amount.
2015/03/25
Committee: BUDGECON
Amendment 575 #
Proposal for a regulation
Article 1 – paragraph 1 – subparagraph 2
The purpose of the EFSI shall be to support investments in the Union and to ensure increased access to financing for companies having up to 3000 employees, with a particular focus on small and medium enterprises and innovative companies, through the supply of risk bearing capacity to the EIB ('EFSI Agreement').
2015/03/25
Committee: BUDGECON
Amendment 626 #
Proposal for a regulation
Article 2 – paragraph 1 – subparagraph 1 – point a
(a) provisions governing the legal status and the establishment of the EFSI as a distinct, clearly identifiable and transparent guarantee facility and separate account managed by the EIB;
2015/03/25
Committee: BUDGECON
Amendment 702 #
Proposal for a regulation
Article 2 – paragraph 2 – subparagraph 1
The EFSI Agreement shall provide for the creation of a European Investment Advisory Hub ('EIAH') within the EIB. The EIAH shall have as its objective to build upon existing EIB and Commission advisory services in order to provide decentralised on the ground advisory support for investment project identification, preparation and development and act as a single technical advisory hub for project financing within the Union. This shall include support on the use of technical assistance for project structuring, use of innovative financial instruments, use of public-private partnerships and advice, as appropriate, on relevant issues of EU legislation.
2015/03/25
Committee: BUDGECON
Amendment 716 #
Proposal for a regulation
Article 2 – paragraph 2 – subparagraph 2
To meet that objective, the EIAH shall use the expertise of the EIB and its existing technical assistance facilities, the Commission, national promotional banks and the managing authorities of the European Structural and Investment Funds.
2015/03/25
Committee: BUDGECON
Amendment 758 #
Proposal for a regulation
Article 3 – paragraph 1
1. The EFSI Agreement shall provide that the EFSI shall be governed by an independent Steering Board, which shall set detailed investment guidelines, determine the strategic orientation, the strategic asset allocation and operating policies and procedures, including the investment policy of projects that EFSI can support and the risk profile of the EFSI, in conformity with the objectives under Article 5(2). The Steering Board shall elect one of its members to be Chairperson.
2015/03/25
Committee: BUDGECON
Amendment 786 #
Proposal for a regulation
Article 3 – paragraph 2 – subparagraph 1
For as long as the only contributors to the EFSI are the Union and the EIB, tThe number of members and votes within the Steering Board shall be allocated based on the respective size of contributions in the form of cash or guarantees.
2015/03/25
Committee: BUDGECON
Amendment 799 #
Proposal for a regulation
Article 3 – paragraph 3 – subparagraph 1
When other parties accede to the EFSI Agreement in accordance with Article 1(2), tThe number of members and votes within the Steering Board shall be allocated based on the respective size of contributions from contributors in the form of cash or guarantees. The number of members and votes of the Commission and the EIB, according to paragraph 2, shall be recalculated accordingly.
2015/03/25
Committee: BUDGECON
Amendment 839 #
Proposal for a regulation
Article 3 – paragraph 5 – subparagraph 1
The EFSI Agreement shall provide that the EFSI shall have an Investment Committee, which shall be responsible for examining potential operations in line with the EFSI investment policies and approving the support of the EU guarantee for operations in line with Article 5, irrespective of their geographic location. The investment Committee shall evaluate project proposals based upon clear criteria and methodology developed and agreed upon with the member states.
2015/03/25
Committee: BUDGECON
Amendment 924 #
Proposal for a regulation
Article 5 – paragraph 2 – subparagraph 1 – introductory part
The EU guarantee shall be granted for EIB financing and investment operations approved by the Investment Committee referred to in Article 3(5) or funding to the EIF in order to conduct EIB financing and investment operations in accordance with Article 7(2). The operations concerned shall be consistent with Union policies and supportcontribute to recovering EU's economic convergence, be consistent with Union policies and ensure additionality to existing EU funding through any of the following general objectives:
2015/03/25
Committee: BUDGECON
Amendment 1002 #
Proposal for a regulation
Article 5 – paragraph 2 – subparagraph 1 – point e
(e) providenabling financial support for the companies referred to in Article 1(1), including working capital risk financing.
2015/03/25
Committee: BUDGECON
Amendment 1008 #
Proposal for a regulation
Article 5 – paragraph 2 – subparagraph 1 – point e a (new)
(ea) investments in other sectors where a necessity could occur
2015/03/25
Committee: BUDGECON
Amendment 1225 #
Proposal for a regulation
Article 10 – paragraph 1 a (new)
1a. The report shall elaborate on the principles of sound financial management, transparency, proportionality, non-discrimination, equal treatment, additionality, non-distortion of competition, alignment of interest between the Commission and the partner financial institution.
2015/03/19
Committee: BUDGECON
Amendment 1256 #
Proposal for a regulation
Article 10 – paragraph 2 – point f
(f) the financial statements of the EFSI, accompanied by an opinion of an independent external auditor .
2015/03/19
Committee: BUDGECON
Amendment 1323 #
Proposal for a regulation
Article 12 – paragraph 4
4. The EIB and EIF shall on a regular basis provide the European Parliament, the Council and the Commission with all their independent evaluation reports which assess the practical results achieved by the specific activities of the EIB and EIF under this Regulation, focusing on outcomes and impacts.
2015/03/19
Committee: BUDGECON
Amendment 1326 #
Proposal for a regulation
Article 12 – paragraph 5
5. At the latest [PO insert date three years after the entry into force of this Regulation], the Commission shall submit a report to the European Parliament and the Council on the application of this Regulation, including assessment of the value added of the EFSI and its additionality to existing EU funding instruments, accompanied by any relevant proposal. for improvements.
2015/03/19
Committee: BUDGECON
Amendment 1354 #
Proposal for a regulation
Article 14 – paragraph 1
The operations carried out under the EFSI and the instruments/entities/facilities which will be set up, along with the EU guarantee and the payments and recoveries under it that are attributable to the general budget of the Union shall be audited by the Court of Auditors.
2015/03/19
Committee: BUDGECON
Amendment 1410 #
Proposal for a regulation
Article 18 – paragraph 1 – point 1
Regulation (EU) No 1291/2013
Article 6, paragraphs 2, (a)
(a) Excellent science, EUR 23 897,0 million in current prices;deleted
2015/03/19
Committee: BUDGECON
Amendment 1418 #
Proposal for a regulation
Article 18 – paragraph 1 – point 1
Regulation (EU) No 1291/2013
Article 6, paragraphs 2, (i)
(i) Spreading excellence and widening participation, EUR 782,3 million in current prices;deleted
2015/03/19
Committee: BUDGECON
Amendment 1441 #
Proposal for a regulation
Article 19
Regulation (EU) No 1291/2013
Article 5, paragraph 1
In Article 5 of Regulation (EU) No 1316/2013, paragraph 1 is replaced by the following: ‘ 1. The financial envelope for the implementation of the CEF for the period 2014 to 2020 is set at EUR 29 942 259 000 (*) in current prices. That amount shall be distributed as follows: (a) transport sector: EUR 23 550 582 000, of which EUR 11 305 500 000 shall be transferred from the Cohesion Fund to be spent in line with this Regulation exclusively in Member States eligible for funding from the Cohesion Fund; (b) telecommunications sector: EUR 1 041 602 000; (c) energy sector: EUR 5 350 075 000. These amounts are without prejudice to the application of the flexibility mechanism provided for under Council Regulation (EU, Euratom) No 1311/2013(*). (*) Council Regulation (EU, Euratom) No 1311/2013 of 2 December 2013 laying down the multiannual financial framework for the years 2014-20 (OJ L 347, 20.12.2013, p. 884). ’19 deleted Amendment to Regulation (EU) No 1316/2013
2015/03/19
Committee: BUDGECON