12 Amendments of Zdzisław KRASNODĘBSKI related to 2015/0009(COD)
Amendment 45 #
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 that boost the coherent and balanced social and economic development of Member States within the European Union.
Amendment 84 #
Proposal for a regulation
Recital 11
Recital 11
(11) The EFSI should support strategic investments with high economic value addedand social added value contributing to achieving Union policy objectives and preventing further divergence of Member State economies. To this end the EFSI should be open to supporting the use of the technology and sources of energy that are available in the Member States.
Amendment 94 #
Proposal for a regulation
Recital 12
Recital 12
(12) Many small and medium enterprises, as well as mid-cap companies, across the Union require assistance to attract market financing, especially as regards investments that carry a greater degree of risk. The EFSI should help these businesses to overcome capital shortages by allowing the EIB and the European Investment Fund ('EIF') to provide direct and indirect equity injections, as well as to provide guarantees for high-quality securitisation of loans, and other products that are granted in pursuit of the aims of the EFSI. It is important that the EFSI takes into account the specific investment conditions in countries with less developed financial markets.
Amendment 99 #
Proposal for a regulation
Recital 13
Recital 13
(13) The EFSI should be established within the EIB in order to benefit from its experience and proven track record and in order for its operations to start to have a positive impact as quickly as possible. In connection with the increased responsibility of the EIB and the need to take into account the specific circumstances of the Member States, the bank’s Management Committee should be expanded. The work of the EFSI on providing finance to small and medium enterprises and small mid-cap companies should be channelled through the European Investment Fund ('EIF') to benefit from its experience in these activities.
Amendment 104 #
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 jobthe creation of quality jobs, 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 127 #
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 operat, which yield returns in the long term and are vital from the point of view of the coherent social and economic development of Member States within the European Unions. The EFSI should finance projects across the Union, including ipaying particular attention theo countries most affected by the financial crisisthat are particularly affected by unemployment and in which the level of social and economic development is below the European average. The EFSI should only be used where financing is not available from other sources on reasonable terms.
Amendment 143 #
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 who are also aware of the specific circumstances of Member States, particularly those that are affected by the crisis. The Investment Committee should be accountable to a Steering Board of the EFSI and to the European Parliament, who should supervise the fulfilment of the EFSI's objectives. The work of the Investment Committee should be monitored by the European Parliament. 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 167 #
Proposal for a regulation
Recital 22
Recital 22
(22) In accordance with the Treaty on the Functioning of the European Union, Iinfrastructure and project investments supported under EFSI should be consistent with State aid rules. To that end, the Commission has announced that it will formulate a set of core principles, for the purpose of State aid assessments, which a project will have to meet to be eligible for support under the EFSI. If a project meets these criteria and receives support from the EFSI, the Commission has announced that any national complementary support, will be assessed under a simplified and accelerated State aid assessment whereby the only additional issue to be verified by the Commission will be the proportionality of public support (absence of overcompensation). These changes should take account of the differences as regards the budgetary capabilities of the Member States in the application of State aid. The Commission has also announced that it will provide further guidance on the set of core principles with a view to ensuring an efficient use of public funds.
Amendment 175 #
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 increase the accessibility and effectiveness of its advice, the EIAH should set up branches in the Member States. Methods for the development of the local financial market should also be covered by EIAH advice.
Amendment 246 #
Proposal for a regulation
Article 3 – paragraph 3 – subparagraph 1
Article 3 – paragraph 3 – subparagraph 1
3. When other parties accede to the EFSI Agreement in accordance with Article 1(2), the number of members and votes within the Steering Board shall be allocated based on the respective sizin line with the principle of contributions from contributors in the form of cash or guaranteese member one vote. The number of members and votes of the Commission and the EIB, according to paragraph 2, shall be recalculated accordingly.
Amendment 250 #
Proposal for a regulation
Article 3 – paragraph 3 – subparagraph 3
Article 3 – paragraph 3 – subparagraph 3
No decision of the Steering Board shall be adopted if the Commission or the EIB votes against it. The European Parliament shall be informed of any disputes in the annual report.
Amendment 259 #
Proposal for a regulation
Article 3 – paragraph 5 – subparagraph 2
Article 3 – paragraph 5 – subparagraph 2
The Investment Committee shall be composed of six independent10 experts and the Managing Director. Independent experts shall have a high level of relevant market experience in project finance, and be acquainted with the specificities of local markets in the Member States and with social issues. They shall be appointed by the Steering Board for a renewable fixed term of three years.