Activities of Maria João RODRIGUES related to 2015/0009(COD)
Plenary speeches (1)
European Fund for Strategic Investments (debate)
Shadow opinions (1)
OPINION on the proposal for a regulation of the European Parliament and of the Council on the European Fund for Strategic Investments and amending Regulations (EU) No 1291/2013 and (EU) No 1316/2013
Amendments (40)
Amendment 27 #
Proposal for a regulation
Recital 1 a (new)
Recital 1 a (new)
(1a) Adequate levels of public investment are crucial for the financing of public goods, for triggering private investment, which is critically low, and to generate new quality jobs.
Amendment 29 #
Proposal for a regulation
Recital 1 b (new)
Recital 1 b (new)
(1b) The EFSI should pay special attention to projects in Member States and regions still suffering most from the crisis, aiming at the reduction of divergences, especially in what concerns unemployment and employment levels. The need to generate new quality employment at adequate levels must be specifically addressed in a European investment strategy to which the EFSI should contribute.
Amendment 39 #
Proposal for a regulation
Recital 2 a (new)
Recital 2 a (new)
(2a) A wide set of economic and social reforms should be undertaken at national level to generate major economic and social gains. Such reforms should for example aim at ensuring full and equal access to high quality education and training systems, to good childcare facilities and to properly financed health care systems, as well as at ensuring equal participation of women and men in the labour market, and at developing fair and effective tax policy systems which successfully eliminate tax fraud and evasion or tax avoidance practices.
Amendment 40 #
Proposal for a regulation
Recital 2 b (new)
Recital 2 b (new)
(2b) In order to maximize the employment impacts of the EFSI, complementary measures, such as training or other active labour market policies, should be implemented by the Member States,
Amendment 47 #
Proposal for a regulation
Recital 4
Recital 4
(4) Throughout the economic and financial crisis, the Union has made efforts to promote growth, in particular through initiatives set out in the Europe 2020 strategy that put in place an approach for smart, sustainable and inclusive growth. The European Investment Bank ('EIB') has also strengthened its role in instigating and promoting investment within the Union, partly by way of an increase in capital in January 2013. Further action is required to ensure that the investment needs of the Union are addressed and that the liquidity available on the market is used efficiently and channelled towards the funding of viable investment projects, with a strong focus on their growth and quality job- creation, and their benefit to society as a whole.
Amendment 73 #
Proposal for a regulation
Recital 10
Recital 10
(10) The purpose of the EFSI should be to help resolve the difficulties in financing and implementing productive investments in the Union and to ensure increased access to financing with the aim of generating growth, quality jobs and social inclusion. It is intended that increased access to financing should be of particular benefit to small and medium enterprises and including social economy and social enterprises. It is also appropriate to extend the benefit of such increased access to financing to mid- cap companies, which are companies having up to 3000 employees. Overcoming Europe's current investment difficulties should contribute to strengthening the Union's economic, social and territorial cohesion.
Amendment 85 #
Proposal for a regulation
Recital 11
Recital 11
(11) The EFSI should support strategic investments with high economic and job creation value added contributing to achieving Union policy objectives.
Amendment 86 #
Proposal for a regulation
Recital 11
Recital 11
(11) The EFSI should support strategic investments with high economic and social value added and job creation potential contributing to achieving Union policy objectives, especially regarding the employment, education and poverty reduction targets of the Europe 2020 Strategy.
Amendment 105 #
Proposal for a regulation
Recital 14
Recital 14
(14) The EFSI should target projects delivering high societal and economic value. In particular, the EFSI should target projects that promotefoster innovation, skills development, quality job creation, long- term growth 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.
Amendment 108 #
Proposal for a regulation
Recital 14
Recital 14
(14) The EFSI should target projects delivering high societal and economic value. In particular, the EFSI should target projects that promote quality job creation, long- term growth and, competitiveness and social inclusion. 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 113 #
Proposal for a regulation
Recital 14 a (new)
Recital 14 a (new)
(14a) The impact of the EFSI on employment education and poverty reduction should be systematically monitored and further encouraged, especially with the view to achieving prolonged societal gains in the form of sustainable and quality employment, and social inclusion. This should also secure fair distribution of investment returns among investors and workers.
Amendment 118 #
Proposal for a regulation
Recital 14 b (new)
Recital 14 b (new)
(14b) The EFSI should also target social investments, notably in human capital and social services and infrastructures, as drivers for economic competitiveness, social inclusion and gender equality. Without stronger social investment, industrial and economic development will be held back and Europe's future prosperity and competitiveness damaged.
Amendment 124 #
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, including particular 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. It should in particular seek to facilitate financing of economically viable projects with strong job creation potential or other socio-economic benefits, in order to make them more attractive for commercial investors.
Amendment 137 #
Proposal for a regulation
Recital 16 a (new)
Recital 16 a (new)
(16a) The EFSI should take into due account the labour market situations across EU Member States and regions, and include potential employment- enhancing outcomes achievable when assessing projects.
Amendment 143 #
Proposal for a regulation
Recital 8
Recital 8
(8) The EFSI is part of a comprehensive approach to address uncertainty surrounding public and private investments and reduce financial fragmentation in the Union. The strategy has three pillars: mobilising finance for investment, making investment reach the real economy and improving the investment environment in the Union.
Amendment 145 #
Proposal for a regulation
Recital 17
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 a Steering Board of the EFSI, who should supervise the fulfilment of the EFSI's objectives. These two bodies also should, at their respective levels, support the development of investment platforms. 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.
Amendment 178 #
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. The EIAH should support the development of geographic and thematic investment platforms, bringing together co-investors, public authorities, experts, education, training and research institutions, and other relevant actors at EU, national and regional levels, in order to foster innovation, skills development and quality job creation in key areas where more investment is needed.
Amendment 192 #
Proposal for a regulation
Recital 32
Recital 32
(32) Member States have also begun work at national level on establishing and promoting project pipelines for projects of national significance, including in quality job creation. The information prepared by the Commission and the EIB should provide links to the accompanying national project pipelines.
Amendment 206 #
Proposal for a regulation
Article 1 – paragraph 1 – subparagraph 2
Article 1 – paragraph 1 – subparagraph 2
The purpose of the EFSI shall be to support public and private investments in the Union and to ensure increased access to financing for companies, social economy enterprises and service providers having up to 3000 employees, with a particular focus on small and medium enterprises, through the supply of risk bearing capacity to the EIB ('EFSI Agreement'). The overall objective of the EFSI shall be to promote and guarantee sustainable, inclusive and long-term growth and quality job creation as well as social inclusion in the Union.
Amendment 225 #
Proposal for a regulation
Article 2 – paragraph 2 – subparagraph 1
Article 2 – paragraph 2 – subparagraph 1
2. 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 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, support the development of investment platforms, use of innovative financial instruments, use of public-private partnerships, maximization of the impact on job creation and advice, as appropriate, on relevant issues of EU legislation.
Amendment 235 #
Proposal for a regulation
Article 3 – paragraph 1
Article 3 – paragraph 1
1. The EFSI Agreement shall provide that the EFSI shall be governed by a Steering Board, which shall 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 and number of foreseen jobs to be created of the EFSI, in conformity with the objectives under Article 5(2). The Steering Board shall elect one of its members to be Chairperson.
Amendment 244 #
Proposal for a regulation
Article 3 – paragraph 2 – subparagraph 1 a (new)
Article 3 – paragraph 2 – subparagraph 1 a (new)
Steering Board members from the Commission shall include representatives with proven expertise in employment and social policies.
Amendment 268 #
Proposal for a regulation
Article 3 – paragraph 5 – subparagraph 2 a (new)
Article 3 – paragraph 5 – subparagraph 2 a (new)
A specialist in employment and social policies shall be appointed as one of the independent experts in the Investment Committee. This expert shall be responsible for assessing the employment and social impact of submitted projects to ensure that those receiving support from the fund are supporting the social objectives of the EU and benefit society as a whole.
Amendment 276 #
Proposal for a regulation
Article 5 – paragraph 2 – subparagraph 1 – introductory part
Article 5 – paragraph 2 – subparagraph 1 – introductory part
2. 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, contribute to achieving the objectives of Europe 2020 Strategy and support any of the following general objectives:
Amendment 280 #
Proposal for a regulation
Recital 15
Recital 15
(15) The EFSI should support renewed economic convergence in Europe by targeting 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 particular 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 286 #
Proposal for a regulation
Article 5 – paragraph 2 – subparagraph 1 – point b
Article 5 – paragraph 2 – subparagraph 1 – point b
(b) investment in education and training, health, research and development, information and communications technology and innovation, innovation, social services, social economy and social enterprises;
Amendment 294 #
Proposal for a regulation
Article 5 – paragraph 2 – subparagraph 1 – point e a (new)
Article 5 – paragraph 2 – subparagraph 1 – point e a (new)
(ea) investments in sectors with high job- creation potential, focusing on long-term and sustainable effects, including the social, health and care sectors as well as the social economy.
Amendment 298 #
Proposal for a regulation
Article 5 – paragraph 2 – subparagraph 1 – point e b (new)
Article 5 – paragraph 2 – subparagraph 1 – point e b (new)
(eb) ensure the highest possible positive impact on quality job creation and on economic, social and territorial cohesion.
Amendment 303 #
Proposal for a regulation
Article 5 – paragraph 2 – subparagraph 2 a (new)
Article 5 – paragraph 2 – subparagraph 2 a (new)
To guide the selection of projects that the EFSI can support, the Steering Board shall include concern with employment and social impact in the strategic orientation, in the guidelines on the strategic asset allocation, and in the operating policies and procedures, including the investment policies.
Amendment 322 #
Proposal for a regulation
Article 9 – paragraph 3
Article 9 – paragraph 3
3. Member States shall develop, update and disseminate, on a regular and structured basis, information on current and future investment projects in their territory, including their potential for quality job creation.
Amendment 326 #
Proposal for a regulation
Article 10 – paragraph 1
Article 10 – paragraph 1
1. The EIB and the EFSI Investment Committee, in cooperation with the EIF as appropriate, shall report semi-annually to the Commission on EIB, the Council and the European Parliament on EIB and EFSI financing and investment operations under this Regulation. The report shall include an assessment of compliance with the requirements on the use of the EU guarantee and the key performance indicators established pursuant to Article 2(1)(g). The report shall also include statistical, financial and accounting data on each EIB financing and investment operation and on an aggregated basis. The report should also include a detailed qualitative assessment of the operations concerned as defined in Article 5.
Amendment 332 #
Proposal for a regulation
Article 10 – paragraph 2 – point b
Article 10 – paragraph 2 – point b
(b) an assessment of the added value, the mobilisation of private sector resources, the estimated and actual outputs, outcomes and impact of EIB financing and investment operations at an aggregated basis, including in terms of job creation;
Amendment 337 #
Proposal for a regulation
Article 10 – paragraph 2 – point f a (new)
Article 10 – paragraph 2 – point f a (new)
(fa) an assessment of the contribution to the Union`s objectives and the Europe 2020 Strategy targets for employment, education and poverty reduction.
Amendment 339 #
Proposal for a regulation
Recital 17
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 a Steering Board of the EFSI, who should supervise the fulfilment of the EFSI's objectives. These two bodies also should, at their respective levels, support the development of investment platforms. 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.
Amendment 448 #
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. The EIAH should also support the development of geographic and thematic investment platforms.
Amendment 696 #
Proposal for a regulation
Article 2 – paragraph 2 – subparagraph 1
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 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, development of investment platforms, use of innovative financial instruments, use of public-private partnerships and advice, as appropriate, on relevant issues of EU legislation.
Amendment 845 #
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 in line with Article 5, irrespective of their geographic location. Operations with particularly significant job creation potential shall be considered by the Investment Committee in an accelerated manner.
Amendment 1032 #
Proposal for a regulation
Article 5 – paragraph 2 – subparagraph 2
Article 5 – paragraph 2 – subparagraph 2
In addition, the EU guarantee shall be granted for support of dedicated investment platforms and national promotional banks, via the EIB, that invest in operations meeting the requirements of this Regulation. In that case, tvestment platforms can bring together co-investors, public authorities, experts, education, training and research institutions and other relevant actors at EU, national and regional levels in order to foster innovation, skills development and quality job creation in key areas where more investment is needed. The Steering Board shall specify policies regarding eligible investment platforms.
Amendment 1039 #
Proposal for a regulation
Article 5 – paragraph 2 – subparagraph 2 a (new)
Article 5 – paragraph 2 – subparagraph 2 a (new)
Investment operations benefitting from the EU guarantee shall ensure the highest possible positive impact on quality job creation and economic, social and territorial cohesion, notably by taking account of the investment gaps and financing needs in countries most affected by the economic crisis.
Amendment 1202 #
Proposal for a regulation
Article 9 – paragraph 1
Article 9 – paragraph 1
1. The Commission and the EIB, with support from the Member States, shall promote the creation of a transparent pipeline of current and potential future investment projects in the Union. The pipeline is without prejudice to the final projects selected for support according to Article 3(5) but projects with particularly significant job creation potential shall be considered by the EIB and the Investment Committee in an accelerated manner.