Activities of Christine REVAULT D'ALLONNES BONNEFOY related to 2015/0009(COD)
Plenary speeches (1)
European Fund for Strategic Investments (A8-0139/2015 - José Manuel Fernandes, Udo Bullmann) FR
Amendments (16)
Amendment 48 #
Proposal for a regulation
Recital 2
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. Along with a renewed impetus towards investment financing, these preconditionsAlong with a renewed impetus towards investment financing, regulatory adjustment to create incentives for public investment can contribute to establishing a virtuous circle, where investment projects help support employment and demand and lead to a sustained increase in growth potential.
Amendment 50 #
Proposal for a regulation
Recital 9
Recital 9
(9) The investment environment within the Union should be improved by removing barriers to investment, reinforcing the Single Market and by enhancing the regulatory predictabilityframework in order to make it more flexible. The work of the EFSI, and investments across Europe generally, should benefit from this accompanying work.
Amendment 61 #
Proposal for a regulation
Recital 11
Recital 11
(11) The EFSI should support strategic investments with high economic value added contributing to achieving Union policy objectivesthe Europe 2020 Strategy for smart, inclusive and sustainable growth.
Amendment 65 #
Proposal for a regulation
Recital 14
Recital 14
(14) The EFSI should target projects delivering high societal, environmental and economic value. In particular, the EFSI should target projects that promote job creation, long- term growth and, competitiveness, and that contribute to a low carbon and resource efficient economy. 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.
Amendment 67 #
Proposal for a regulation
Recital 15
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, includingespecially in the countries most affected by the financial crisis. The EFSI should only be used where financing is not available from other sources on reasonable terms.
Amendment 69 #
Proposal for a regulation
Recital 16
Recital 16
(16) The EFSI should target investments that are expected to be economically, environmentally and technically viable, which may entail a degree of appropriate risk, whilst still meeting the particular requirements for EFSI financing.
Amendment 72 #
Proposal for a regulation
Recital 21 a (new)
Recital 21 a (new)
(21 a) The financial contributions to the EFSI or to the dedicated investment platforms by Member States or by national promotional banks shall not be taken into account by the European Commission when defining the fiscal adjustment under either the preventive or the corrective arm of the Stability and Growth Pact. In addition, making the best use of the flexibility of the Pact, the financial contributions on behalf of the State for individual operations which are supported by the EFSI shall not be taken into account by the European Commission when defining the fiscal adjustment under either the preventive or the corrective arm of the Pact.
Amendment 73 #
Proposal for a regulation
Recital 23
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 and that they present a higher risk-return profile than those targeted by the EIB to ensure additionality over existing operation.
Amendment 76 #
Proposal for a regulation
Recital 26
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 support 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. In order to ensure sectoral diversification of beneficiaries of financial instruments as well as to encourage sectorial and geographical diversification across the Member States, the Steering Board through the EIAH, should provide support to Member States and project promoter in developing an appropriate pipeline of projects that could be considered for project financing. In the transport sector, EIAH should closely work with the Innovation & Networks Executive Agency, in particular as regards compliance with the EU policy on transport infrastructure. In this perspective, the EIAH should include a representative who is an expert in the field of transport.
Amendment 91 #
Proposal for a regulation
Recital 33
Recital 33
(33) Although the projects identified under the project pipeline may be used by the EIB in the identification and selection of EFSI supported projects, the project pipeline should ensure sectorial and geographical diversification and have a broader scope of identifying projects across the Union. This scope may include projects that are capable of being fully financed by the private sector or with the assistance of other instruments provided at European or national level. The EFSI should be able to support financing and investment to projects identified by the project pipeline, but there should be no automaticity between inclusion on the list and access to EFSI support and the EFSI be conferred with discretion to select and support projects that are not included on the list.
Amendment 93 #
Proposal for a regulation
Recital 34
Recital 34
(34) To ensure accountability to European citizens, the EIB, the Chairperson of the EFSI Steering Group and the Managing Director of the EFSI Investment Committee should regularly report to the European Parliament and the Council on the progress and impact of the EFSI.
Amendment 106 #
Proposal for a regulation
Article 3 – paragraph 1 – subparagraph 1 (new)
Article 3 – paragraph 1 – subparagraph 1 (new)
The Chairperson together with the Managing Director of the Investment Committee, as referred to in Article 3, paragraph 4, shall speak at least once a year in a joint hearing of the Committees in the European Parliament to give a progress report of the EFSI activities.
Amendment 108 #
Proposal for a regulation
Article 3 – paragraph 2 – subparagraph 1
Article 3 – paragraph 2 – subparagraph 1
For as long as the only contributors to the EFSI are the Union and the EIB, the Steering Board shall comprise at least five members: three appointed by the Commission, one by the EIB, the European parliament should also be represented as it is the budgetary authority. The 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.
Amendment 111 #
Proposal for a regulation
Article 3 – paragraph 2 – subparagraph 2
Article 3 – paragraph 2 – subparagraph 2
The Steering Board shall take decisions by consensus. When determining the policy of projects and the strategic orientation foreseen in paragraph 1, the Steering Committee should ensure sectoral diversification of beneficiaries as well as encourage a gradual geographical diversification across the Member States, taking into account where the needs of investment are urgent and prioritising countries that are the most affected by the financial and economic crisis.
Amendment 112 #
Proposal for a regulation
Article 3 – paragraph 5 – subparagraph 1
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 : 1.in line with Article 5, 2. In line with the overall objectives of Regulation (EU) No 1316/2013 and Regulation (EU) No 1315/2013 as well as the TEN-T annual work programmes 3. with a proven economic, societal and sustainable added value regarding the promotion of jobs, skills, innovation and competiveness in the European Union, which could not have been carried out with existing EU funds and instruments. 4. irrespective of their geographic location.
Amendment 152 #
Proposal for a regulation
Article 5 – paragraph 2 – subparagraph 1 – point d
Article 5 – paragraph 2 – subparagraph 1 – point d
(d) infrastructure projects in the environmental, natural resources, urban developmentsmart and sustainable urban mobility in accordance with the COM (2013) 913 "Together towards competitive and resource-efficient urban mobility" and social fields;