10 Amendments of Brando BENIFEI related to 2015/0009(COD)
Amendment 72 #
Proposal for a regulation
Recital 10
Recital 10
(10) The purpose of the EFSI should be to relaunch economic growth and create high-quality jobs in the Union by supporting investments and by helping resolve the difficulties in financing and implementing productive investments in the Union and to ensure increased access to financing. It is intended that increased access to financing should be of particular benefit to small and medium 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 83 #
Proposal for a regulation
Recital 11
Recital 11
(11) The EFSI should support strategic investments with high economic value addedand societal value added and job creation potential contributing to achieving Union policy objectives, especially regarding the employment targets of the Europe 2020 strategy.
Amendment 103 #
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 job creation,create high-quality jobs, sustainable 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 112 #
Proposal for a regulation
Recital 14 a (new)
Recital 14 a (new)
(14a) The impact of the EFSI on employment should be systematically monitored and further encouraged, especially with a view to achieving prolonged societal gains in the form of sustainable and high quality employment. This should also secure a fair distribution of investment returns among investors and workers. With a view to this, the Commission shall include in the Joint Employment Report accompanying the Commission Communication on the Annual Growth Survey a detailed assessment of the direct impact on jobs creation of the investments financed by the EFSI, as well as an analysis of the spillover effects on employment of such investments in Europe.
Amendment 123 #
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 those countries most affected by the economic and financial crisis, also taking into account the fact that, by bearing higher investment risks, they could provide for higher economic returns to the investors while also maximising the positive societal spill- overs in those countries. The EFSI should only be used where financing is not available from other sources on reasonable terms.
Amendment 142 #
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 and macroeconomics. The Investment Committee should be accountable to a 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.
Amendment 213 #
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 investments in the Unionrelaunch economic growth and create high-quality jobs in the Union by supporting investments and toby ensureing increased access to financing for companies 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').
Amendment 233 #
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 of the EFSI, in conformity with the objectives under Article 5(2). The steering board shall be appointed following an open and transparent selection procedure. The Steering Board shall elect one of its members to be Chairperson.
Amendment 263 #
Proposal for a regulation
Article 3 – paragraph 5 – subparagraph 2
Article 3 – paragraph 5 – subparagraph 2
The Investment Committee shall be composed of six independent experts and the Managing Director. Independent experts shall have a high level of relevant market experience in project finance and macroeconomics and be appointed by the Steering Board for a renewable fixed term of three years.
Amendment 344 #
Proposal for a regulation
Article 10 – paragraph 5 – subparagraph 1 (new)
Article 10 – paragraph 5 – subparagraph 1 (new)
The Commission shall include in the Joint Employment Report accompanying the Commission Communication on the Annual Growth Survey a detailed assessment of the direct impact on jobs creation of the investments financed by the EFSI, as well as an analysis of the spillover effects on employment of such investments in Europe.