BETA

43 Amendments of Monika VANA related to 2016/0276(COD)

Proposal for a regulation
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The European Parliament rejects the Commission proposal.

2017/01/31
Committee: REGI

Proposal for a regulation
Recital 6

(6) The EFSI was established for an initial period of three years and with the aim of mobilising at least EUR 315 billion in investments. Given its success, the Commission is committed to the doubling of the EFSI, both in terms of duration and financial capacity. The legal extension covers the period of the current Multiannual Financial Framework and should provide a total of at least half a trillion euro investments by 2020. In order to enhance the firepower of the EFSI even further and reach the aim of doubling the investment target, Member States should also contribute as a matter of priority.

2017/01/31
Committee: REGI

Proposal for a regulation
Recital 6 a (new)

(6a) On 11 November 2016, the European Court of Auditors concluded that it was still too soon for the economic, social and environmental impacts to be measured or for a conclusion to be drawn as to whether EFSI was achieving its objectives. A comprehensive impact assessment shall provide for the necessary evidence whether or not the EFSI should be extended.

2017/01/31
Committee: REGI

Proposal for a regulation
Recital 8

(8) The ~~extended~~ EFSI should address remaining market failures and sub-optimal investment situations and continue to mobilise private sector financing in investments crucial for Europe’s future job creation – including for the youth –, growth and competitiveness with strengthened additionality. They include investments in the areas of energy, environment and climate action, social and human capital and related infrastructure, healthcare, research and innovation, cross- border and sustainable transport, as well as the digital transformation. In particular, the contribution of operations supported by the EFSI to achieving the Union’s ambitious targets set at the Paris Climate Conference (COP21) should be reinforced. Energy interconnection priority projects and energy efficiency projects should also be increasingly targeted. In addition, EFSI support to motorways should be avoided~~, unless it is needed to support private investment in transport in cohesion countries or in cross-border transport projects involving at least one cohesion country~~. For reasons of clarity, although they are already eligible, it should be explicitly laid down that projects in the fields of agriculture, fishery and aquaculture come within the general objectives eligible for EFSI support.

2017/01/31
Committee: REGI

Proposal for a regulation
Recital 9

(9) Additionality, a key feature of the EFSI, should be strengthened in the selection of projects. In particular, operations should only be eligible for EFSI support if they address clearly identified market failures or sub-optimal investment situations. ~~Operations in infrastructure under the Infrastructu~~Projects supported by the EFSI should also be considered a~~nd Innovation Window linking two or more Member States, including e-infrastructure, should be considered additional given their inherent difficulty and their high added value for the Union~~dditional when generating long-term societal and environmental benefits. The Investment Committee should ensure that additionality is verified in its selection procedure.

2017/01/31
Committee: REGI

Proposal for a regulation
Recital 8

(8) The extended EFSI should address remaining market failures and sub-optimal investment situations and continue to mobilise private sector financing in investments crucial for Europe’'s future job creation – including for the youth –, growth and competitiveness with strengthened additionality. They include investments in the areas of energy, environment and climate action, social and human capital and related infrastructure, healthcare, research and innovation, cross- border and sustainable transport, as well as the digital transformation. In particular, the contribution of operations supported by the EFSI to achieving the Union's ambitious targets set at the Paris Climate Conference (COP21) should be reinforced. Energy interconnection priority projects and energy efficiency projects should also be increasingly targeted. In addition, EFSI support to motorways should be avoided, unless it is needed to support private investment in transport in cohesion countries or in cross-border transport projects involving at least one cohesion country. For reasons of clarity, although they are already eligible, it should be explicitly laid down that projects in the fields of agriculture, fishery and aquaculture come within the general objectives eligible for EFSI support. Given the very high rates of poverty and social exclusion in Europe, the operations supported by the EFSI to tackling this issue should be reinforced. Further given the significant need for investment into social infrastructure, projects in the fields of social services, healthcare services, education and social housing come within the general objectives eligible for EFSI support.

2017/02/07
Committee: EMPL

Proposal for a regulation
Recital 9 a (new)

(9a) The EFSI should operate in closer conjunction with the Structural Funds and other EU cohesion policy funds. EFSI must not, however, in any way substitute the EU's cohesion policy.

2017/02/07
Committee: EMPL

Proposal for a regulation
Recital 9 b (new)

(9b) The EFSI should neither contradict the achievements of the European Social Fund (ESF), the EU's cohesion policy, especially the achievements of the European Structural and Investment Funds (ESIF), nor contradict the goals of the Europe 2020 strategy.

2017/02/07
Committee: EMPL

Proposal for a regulation
Recital 11

~~(11) In order to reinforce the take-up of the EFSI in less-developed and transition regions, the scope of the general objectives eligible for EFSI support should be enlarged.~~deleted

2017/01/31
Committee: REGI

Proposal for a regulation
Recital 11 a (new)

(11a) With a view to contributing to the Union objective of economic, social and territorial cohesion and reducing regional disparities, the geographical balance of EFSI support needs urgently be enhanced by providing for effective implementation of geographical diversification and concentration guidelines and by strengthening the role of the European Investment Advisory Hub (EIAH).

2017/01/31
Committee: REGI

Proposal for a regulation
Recital 16

(16) In line with the exceptional market demand for SME financing under the EFSI which is expected to continue, the EFSI SME Window should be enhanced. Particular attention should be paid to social enterprises and social services, including through the development and deployment of new instruments adequate for the sector's needs and specificities.

2017/02/07
Committee: EMPL

Proposal for a regulation
Recital 18

(18) With a view to enhancing the transparency of EFSI operations, the Investment Committee should explain in its decisions, which are made public and accessible, the reasons why it deems that an operation should be granted the EU guarantee, with particular focus on compliance with the additionality criterion. The scoreboard of indicators should be made public once an operation under the EU guarantee is ~~sign~~approved.

2017/02/07
Committee: EMPL

Proposal for a regulation
Recital 19

(19) The operations supported by the EFSI should adhere to the Union's principles of tax good governance and its social acquis.

2017/02/07
Committee: EMPL

Proposal for a regulation
Recital 21

(21) The European Investment Advisory Hub (EIAH) should be enhanced and its activities should focus on needs not covered adequately under current arrangements. It should pay particular attention to supporting the preparation of projects involving two or more Member States and projects that contribute to achieving the objectives of COP21 and the Europe 2020 strategy, including tackling poverty and social exclusion. Notwithstanding its objective to build upon existing advisory services of the EIB and the Commission, so to act as a single technical advisory hub for project financing within the Union, the EIAH should also contribute actively to the objective of sectorial and geographical diversification of the EFSI and support the EIB where needed in originating projects. It should also actively contribute to the establishment of investment platforms, including sectorial ones, and provide advice on the combination of other sources of Union funding with the EFSI.

2017/02/07
Committee: EMPL

Proposal for a regulation
Article 1 – paragraph 1 – point 2

Regulation (EU) 2015/1017
Article 5 – paragraph 1 –subparagraph 5

The projects supported by the EFSI that consist of physical infrastructure linking two or more Member States or of the extension of physical infrastructure or services linked to physical infrastructure from one Member State to one or more Member States, shall also be considered to provide additionality.;deleted

2017/02/07
Committee: EMPL

Proposal for a regulation
Article 1 – paragraph 1 – point 2

Regulation (EU) No 2015/1017
Article 5 – paragraph 1 – third subparagraph

Projects supported by the EFSI shall also be considered to provide additionality when generating long-term societal and environmental benefits.

2017/01/31
Committee: REGI

Proposal for a regulation
Article 1 – paragraph 1 – point 3

Regulation (EU) 2015/1017
Article 6 – paragraph 1 – introductory part

1. The EFSI Agreement shall provide that the EFSI is to support projects which address market failures or sub-optimal investment situations or have need for high investment to improve delivery on Union policies and which:

2017/02/07
Committee: EMPL

Proposal for a regulation
Article 1 – paragraph 1 – point 2

Regulation (EU) No 20015/1017
Article 5 – paragraph 1 – third subparagraph

The projects supported by the EFSI that consist of physical infrastructure linking two or more Member States or of the extension of physical infrastructure or services linked to physical infrastructure from one Member State to one or more Member States, shall also be considered to provide additionality.;deleted

2017/01/31
Committee: REGI

Proposal for a regulation
Article 1 – paragraph 1 – point 3 a (new)

Regulation (EU) 2015/1017
Article 6 – paragraph 1 – point b

(3a) In Article 6(1), point (b) is replaced by the following: (b) are consistent with Union policies, including the objective of smart, sustainable and inclusive growth, quality job creation, and economic, social and territorial cohesion parallel to the funding criteria of the European Social Fund;

2017/02/07
Committee: EMPL

Proposal for a regulation
Article 1 – paragraph 1 – point 2

Regulation (EU) No 2015/1017
Article 5 – paragraph 1 – third subparagraph

The projects supported by the EFSI shall prove their additionality. The Investment Committee shall ensure that additionality is verified in its selection procedure.

2017/01/31
Committee: REGI

Proposal for a regulation
Article 1 – paragraph 1 – point 4 – point a – point i a (new)

(ia) point (k) is replaced by the following: (k) social infrastructures, social services and the social and solidarity economy.

2017/02/07
Committee: EMPL

Proposal for a regulation
Article 1 – paragraph 1 – point 5 – point -a (new)

Regulation (EU) 2015/1017
Article 9 – paragraph 2 – point g – point v

(v)-a) in paragraph 2, point (g) point (v) is replaced by the following: (v) quality social infrastructures, social services and social and solidarity economy;

2017/02/07
Committee: EMPL

Proposal for a regulation
Article 1 – paragraph 1 – point 5 – point a

Regulation (EU) No 2015/1017
Article 9 – paragraph 2

(i) for less-developed regions and transition regions as listed respectively in Annex I and Annex II of Commission Implementing Decision 2014/99/EU5 , other industry and services eligible for EIB support.; _________________ 5 Commission Implementing Decision No 2014/99/EU of 18 February 2014 setting out the list of regions eligible for funding from the European Regional Development Fund and the European Social Fund and of Member States eligible for funding from the Cohesion Fund for the period 2014-2020, OJ L 50, 20.2.2014, p. 22.deleted

2017/01/31
Committee: REGI

Proposal for a regulation
Article 1 – paragraph 1 – point 5 – point a a (new)

Regulation (EU) No 2015/1017
Article 9 – paragraph 2 – point f

(aa) in paragraph 2, point (f) is replaced by the following: ‘(f) climate change mitigation and adaptation, environment and resource efficiency, in particular through:’

2017/01/31
Committee: REGI

Proposal for a regulation
Article 1 – paragraph 1 – point 5 – point b

Regulation (EU) No 2015/1017
Article 9 – paragraph 2

The EIB shall target that at least 450 % of EFSI financing under the infrastructure and innovation window supports projects with components that contribute to climate action, in line with the COP21 commitments. The Steering Board shall provide detailed guidance to that end.;

2017/01/31
Committee: REGI

Proposal for a regulation
Article 1 – paragraph 1 – point 5 – point b

Regulation (EU) 2015/1017
Article 9 – paragraph 2 – subparagraph 2

The EIB shall target that at least 40 50% of EFSI financing under the infrastructure and innovation window supports projects with components that contribute to climate action, in line with the COP21 commitments. The EIB shall target that at least 20% of all EFSI financing supports projects contributing directly to tackling poverty and social exclusion. The Steering Board shall provide detailed guidance to that end.;

2017/02/07
Committee: EMPL

Proposal for a regulation
Article 1 – paragraph 1 – point 5 – point c

Regulation (EU) No 2015/1017
Article 9 – paragraph 3

(c) paragraph 3 is replaced by the following: ‘3. The investment period during which the EU guarantee may be granted for supporting financing and investment operations covered by this Regulation shall last until: (a) 31 December 2020, for EIB operations for which a contract between the EIB and the beneficiary or financial intermediary has been signed by 31 December 2022; (b) 31 December 2020, for EIF operations for which a contract between the EIF and the financial intermediary has been signed by 31 December 2022.;’deleted

2017/01/31
Committee: REGI

Proposal for a regulation
Article 1 – paragraph 1 – point 5 – point d

Regulation (EU) No 2015/1017
Article 9 – paragraph 4

~~(d) paragraph 4 is~~ deleted.;

2017/01/31
Committee: REGI

Proposal for a regulation
Article 1 – paragraph 1 – point 5 – point d a (new)

Regulation (EU) No 2015/1017
Article 9 – paragraph 7 – subparagraph 1

(da) in paragraph 7, the following subparagraph is added: ‘When EFSI is combined with European Structural and Investment Funds, the highest risk-taking tranche shall be covered by EFSI.’

2017/01/31
Committee: REGI

Proposal for a regulation
Article 1 – paragraph 1 – point 9 – point a – point i

Regulation (EU) 2015/1017
Article 14 – paragraph 1 – subparagraph 1 – second sentence

Such support shall include providing targeted support on the use of technical assistance for project structuring, on the use of innovative financial instruments and on the use of public-private partnerships, and advice, as appropriate, on relevant issues relating to Union law, taking into account the specificities and needs of Member States with less- developed financial markets and different sectors.;

2017/02/07
Committee: EMPL

Proposal for a regulation
Article 1 – paragraph 1 – point 9 – point a – point i a (new)

Regulation (EU) 2015/1017
Article 14 – paragraph 1 – subparagraph 2

(ia) subparagraph 2 is replaced by the following: The EIAH shall be able to provide technical assistance in the areas listed in Article 9(2), in particular energy efficiency, TEN-T ~~and~~ urban mobility and social infrastructure.

2017/02/07
Committee: EMPL

Proposal for a regulation
Article 1 – paragraph 1 – point 9 – point a – point ii

Regulation (EU) 2015/1017
Article 14 – paragraph 1 – subparagraph 2 – second sentence

It shall also support the preparation of climate action and circular economy projects or components thereof, in particular in the context of COP21, in the development of projects tackling poverty and social exclusion, the preparation of projects in the digital sector, as well as the preparation of projects referred to in the fifth subparagraph of Article 5(1).;

2017/02/07
Committee: EMPL

Proposal for a regulation
Article 1 – paragraph 1 – point 9 – point b – point ii

Regulation (EU) 2015/1017
Article 14 – paragraph 2 – point e

(e) providing pro-active support on the establishment of investment platforms; including sectoral investment platforms;

2017/02/07
Committee: EMPL

Proposal for a regulation
Article 1 – paragraph 1 – point 9 – point b – point iii

Regulation (EU) No 2015/1017
Article 14 – paragraph 2 – point f

(f) providing advice on the combination of other sources of Union funding ~~(such as the European Structural and Investment Funds, Horizon 2020 and the Connecting Europe Facility)~~ with the EFSI.;

2017/01/31
Committee: REGI

Proposal for a regulation
Article 1 – paragraph 1 – point 9 – point b – point iii a (new)

Regulation (EU) 2015/1017
Article 14 – paragraph 2 – point f a (new)

(iiia) the following point (fa) is added: “(fa) EIAH services provided to projects covered by targeted funding under Article 9(2) shall also be free of charge.”

2017/02/07
Committee: EMPL

Proposal for a regulation
Article 1 – paragraph 1 – point 9 a (new)

Regulation (EU) 2015/1017
Article 16 – paragraph 2 – point c

(9a) in Article 16, paragraph 2, point (c) is replaced by the following: (c) an assessment of the extent to which operations covered by this Regulation contribute to the achievement of the general objectives set out in Article 9(2) including an assessment of the level of EFSI investments in the areas of research, development and innovation and transport (including TEN-T and urban mobility), telecommunications, energy infrastructure ~~and~~, energy efficiency; and social infrastructure, social services and social and solidarity economy.

2017/02/07
Committee: EMPL

Proposal for a regulation
Article 1 – paragraph 1 – point 9 a (new)

Regulation (EU) No 2015/1017
Article 16 – paragraph 2 – point f

(9a) In Article 16(2), point (f) is replaced by the following: ‘a description of the projects where the support of the European Structural and Investment Funds is combined with the support of the EFSI, the total amount of the contributions from each source as well as the risk profile of each one;

2017/01/31
Committee: REGI

Proposal for a regulation
Article 1 – paragraph 1 – point 10 – point a

Regulation (EU) No 2015/1017
Article 16 – paragraph 6

(a) paragraph 6 is replaced by the following: ‘6. By 30 June 2018 and 30 June 2020, the Commission shall submit to the European Parliament and the Council a report containing an independent evaluation of the application of this Regulation.;’deleted

2017/01/31
Committee: REGI

Proposal for a regulation
Annex II – point 1 – point a

Regulation (EU) No 2015/1017
Annex II – Section 2 – point (b)

EFSI support to motorways shall be avoided~~, unless it is needed to support private investment in transport in cohesion countries or in cross-border transport projects involving at least one cohesion country.;~~.

2017/01/31
Committee: REGI

Proposal for a regulation
Annex II – point 1 – point a

Regulation (EU) No 2015/1017
Annex II – section 2 – point b

(aa) in point (b), a second subparagraph is added: ‘EFSI support to fossil fuel projects as well as the decommissioning or the construction of nuclear power stations shall be excluded.’

2017/01/31
Committee: REGI

Proposal for a regulation
Annex II – point 1 – point a

Regulation (EU) No 2015/1017
Annex II – Section 2 – point (b)

(ab) in point (b), a second subparagraph is added: ‘EFSI support to airport infrastructure shall be avoided, unless related to environmental protection or accompanied by investment necessary to mitigate or reduce its negative environmental impact.’

2017/01/31
Committee: REGI

Proposal for a regulation
Annex II – point 2

Regulation (EU) No 2015/1017
Annex II – Section 3 – point (d)

(da) in order to foster sustainable investment, projects supported by the EFSI shall generate long-term societal and environmental benefits.

2017/01/31
Committee: REGI

Proposal for a regulation
Annex II – point 6 – point c

Regulation (EU) No 2015/1017
Annex II – Section 8 – point b

(c) in the first sentence of point (b), the word ‘initial’ is deleted. In the second sentence of point (b), the word ‘adopt’ is replaced by ‘adopt and ensure the effective implementation of’.

2017/01/31
Committee: REGI