26 Amendments of Josep-Maria TERRICABRAS related to 2015/0009(COD)
Amendment 34 #
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 for boosting of sustainable economy and quality job creation 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 42 #
Proposal for a regulation
Recital 11
Recital 11
(11) The EFSI should support strategic investments with high societal and economic value added contributing to achieving Union policy objectives.
Amendment 44 #
Proposal for a regulation
Recital 14
Recital 14
(14) The EFSI should target projects delivering high societal and economicEuropean added value. In particular, the EFSI should target projects that promote job creation, long- term growth and competitiveness and contribute to achieving the targets of the Union strategy for smart, sustainable and inclusive growth. 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 52 #
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 with high levels of unemployment. The EFSI should only be used where financing is not available from other sources on reasonable terms.
Amendment 55 #
Proposal for a regulation
Recital 16
Recital 16
(16) The EFSI should target investments that are expected to be economically and technically viable, which may entail a degree of appropriate risk, whilst still meeting the particular requirements for EFSI financing. It is therefore necessary to lay down clear principles, criteria and conditions for the use of EFSI support.
Amendment 57 #
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 organise a partnership with competent national, regional and local authorities, economic and social partners and relevant bodies representing civil society. The purpose of such a partnership is to ensure respect for the principle of subsidiarity and proportionality and to ensure the ownership of planned operations by stakeholders. 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 78 #
Proposal for a regulation
Recital 32
Recital 32
(32) Member States have also begun work at national leveland their national, regional and local authorities should work on establishing and promoting project pipelines for projects of nationalEuropean significance. The information prepared by the Commission and the EIB should provide links to the accompanying national project pipelines.
Amendment 83 #
Proposal for a regulation
Recital 35 a (new)
Recital 35 a (new)
(35 a) In order to ensure uniform conditions for the implementation of this Regulation, implementing powers should be conferred to the Commission in respect of the model to be used when submitting information on investment projects and their contribution to achieving EU policy objectives. Those powers should be exercised in accordance with Regulation (EU) No 182/2011 of the European Parliament and of the Council.
Amendment 85 #
Proposal for a regulation
Article 1 – paragraph 1 – subparagraph 1
Article 1 – paragraph 1 – subparagraph 1
1. The Commission shall conclude an agreement with the European Investment Bank (EIB) on the establishment of a European Fund for Strategic Investments ('EFSI'). The agreement shall be transmitted to the European Parliament and the Council and shall be made public.
Amendment 94 #
Proposal for a regulation
Article 2 – paragraph 1 – subparagraph 1 – point d a (new)
Article 2 – paragraph 1 – subparagraph 1 – point d a (new)
(d a) the methodology for determining geographic quota taking into account the levels of unemployment in order to adequately address the investment needs in those regions most affected by the financial crisis;
Amendment 100 #
Proposal for a regulation
Article 2 – paragraph 2 – subparagraph 2
Article 2 – paragraph 2 – subparagraph 2
To meet that objective, the EIAH shall use the expertise of the EIB, the Commission, national promotional banks and the managing authorities and monitoring committees of the European Structural and Investment Funds.
Amendment 102 #
Proposal for a regulation
Article 2 a (new)
Article 2 a (new)
Amendment 104 #
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, in accordance with Article 2a, 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.
Amendment 106 #
Proposal for a regulation
Article 3 – paragraph 5 – subparagraph 1
Article 3 – paragraph 5 – subparagraph 1
2. 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.
Amendment 115 #
Proposal for a regulation
Article 3 – paragraph 5 – subparagraph 2 a (new)
Article 3 – paragraph 5 – subparagraph 2 a (new)
The Investment Committee shall organise a partnership with competent national, regional and local authorities, economic and social partners and relevant bodies representing civil society making use of existing structures where appropriate. These partners shall be involved in examining and approving operations for support of the EU guarantee.
Amendment 126 #
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 development and, social fields and public services;
Amendment 132 #
Proposal for a regulation
Article 5 – paragraph 2 – subparagraph 2 a (new)
Article 5 – paragraph 2 – subparagraph 2 a (new)
The EU guarantee shall not be granted for support of: a) the decommissioning or the construction of nuclear power stations; b) fossil fuel infrastructure; c) airport infrastructure.
Amendment 134 #
Proposal for a regulation
Article 5 – paragraph 2 – subparagraph 2 b (new)
Article 5 – paragraph 2 – subparagraph 2 b (new)
Support from the EU guarantee shall not replace private market finance and public expenditure by a Member State for objectives referred to in points (a) to (e) of the first sub-paragraph.
Amendment 141 #
Proposal for a regulation
Article 5 – paragraph 4 – subparagraph 1 a (new)
Article 5 – paragraph 4 – subparagraph 1 a (new)
An operation may receive support from the EU guarantee and from other Union instruments, provided that an expenditure item does not receive support from more than one source.
Amendment 146 #
Proposal for a regulation
Article 9 – paragraph 1
Article 9 – paragraph 1
1. The Commission and the EIB, with support from the Member States and their national, regional and local authorities, 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).
Amendment 149 #
Proposal for a regulation
Article 9 – paragraph 2
Article 9 – paragraph 2
2. The Commission and the EIB shall develop, update and disseminate, on a regular and structured basis, all information available on current and future investments which significantly contribute to achieving EU policy objectives.
Amendment 151 #
Proposal for a regulation
Article 9 – paragraph 3
Article 9 – paragraph 3
3. Member States and their national, regional and local authorities shall develop, update and disseminate, on a regular and structured basis, information on current and future investment projects in their territory.
Amendment 154 #
Proposal for a regulation
Article 9 – paragraph 3 a (new)
Article 9 – paragraph 3 a (new)
3 a. The Commission shall, in order to ensure uniform conditions for the implementation of this Article, adopt implementing acts establishing the model to be used when submitting information on investment projects and their contribution to achieving EU policy objectives to the Commission and the EIB. Those implementing acts shall be adopted in accordance with the advisory procedure referred to in Article 17a(2).
Amendment 159 #
Proposal for a regulation
Article 10 – paragraph 2 – point a a (new)
Article 10 – paragraph 2 – point a a (new)
(a a) an assessment on the European added-value and the contribution to achieving EU policy targets, in particular to the Union strategy for smart, sustainable and inclusive growth;
Amendment 160 #
Proposal for a regulation
Article 10 – paragraph 2 – point d
Article 10 – paragraph 2 – point d
(d) an assessment of the quality of EIB financing and investment operations and results achieved;
Amendment 166 #
Proposal for a regulation
Article 17 a (new)
Article 17 a (new)
Article 17 a Committee procedure 1. In application of this Regulation, the Commission shall be assisted by a committee within the meaning of Regulation (EU) No 182/2011. 2. Where reference is made to this paragraph, Article 4 of Regulation (EU) No 182/2011 shall apply.