Activities of Liadh NÍ RIADA related to 2016/2064(INI)
Plenary speeches (1)
Implementation of the European Fund for Strategic Investments (debate) GA
Shadow reports (1)
REPORT on the implementation of the European Fund for Strategic Investments PDF (647 KB) DOC (149 KB)
Shadow opinions (1)
OPINION on the implementation of the European Fund for Strategic Investments
Amendments (9)
Amendment 8 #
Motion for a resolution
Paragraph 1
Paragraph 1
1. Takes note ofHighlights the large investment gap in Europe, which the Commission estimates at a minimum of EUR 200-300 billion a year; , highlightsunderlines, in particular, against this backdrop, the markethigh needs in Europe for high-risk financing, for instancean increase of public and private financing, in the fields of R&D, energy and ICT; is concerned by the fact that the most recent data on national accounts do not indicate any surge in investment since the European Fund for Strategic Investments (EFSI) was launched and the risks which are associated with inducing rent seeking and asset stripping by private investors at the expense of the Union budget by the prioritization of public private partnerships; is highly concerned with the high risk of privatization of profits while there is a socialization of losses, leading to risks of continued subdued growth and continuingthe aggravation of high unemployment rates; stresses that closing this investment gap is key to reviving growth, fighting unemployment and attaining long-term EU policy objectives;
Amendment 19 #
Draft opinion
Paragraph 4 a (new)
Paragraph 4 a (new)
4 a. Notes that persons from rural areas face a distinct disadvantage when trying to access education and calls therefore for better connectivity, infrastructure and accessibility to be implemented;
Amendment 21 #
Motion for a resolution
Paragraph 2
Paragraph 2
2. Emphasises that EFSI was launched to help resolve difficulties and remove obstacles to financing as well as to implement strategic, transformative and productive investments that; underlines the urgency to review this instrument in such a way to give priority to policies of real integration and cohesion, based on social progress and solidarity, safeguarding and promoting decent, quality and stable job creation, sustainable use of natural resources, protection of the environment, which provide a high level of added value to the economy, the environment and society;
Amendment 52 #
Motion for a resolution
Paragraph 4
Paragraph 4
4. Recalls that the purpose of EFSI is to ensure additionality by helping to address market failures or suboptimal investment situations and, by supporting operations which while ensuring the Union’s core commitments to territorial cohesion and social integration, to growth and creation of jobs in particular to youth, could not have been carried out under existing Union financial instruments;
Amendment 67 #
Motion for a resolution
Paragraph 5
Paragraph 5
5. Recalls that the projects supported by EFSI, while striving to create employment, sustainable growth, economic, territorial and social cohesion,should effectively improve territorial, social and economic convergence of Member States and regions within the Union, in particular promoting the creation of employment, sustainable growth in poorer and peripheral regions, and are considered to provide additionality if they carry a risk corresponding to EIB special activities, as defined in Article 16 of the EIB Statute and by the credit risk policy guidelines of the EIB; underlines that EIB projects carrying a risk lower than the minimum risk under EIB special activities may also be supported by EFSI only if use of the EU guarantee is required to ensure additionality;
Amendment 243 #
Motion for a resolution
Paragraph 23
Paragraph 23
23. Recalls that as a result of their know-how, NPBs are necessary for the success of EFSI, as they are close to the local markets; finds that synergies have so far not been exploited to the requisite extent ; observes a risk of local institutions being crowded out by the EIB; calls for the EIB to ensure in particular the enhancement and support of existing public banking structures’, to actively facilitate the exchange of good practices among these institutions and to strengthen their development; recognises that EFSI and the EIB are increasingly willing to take more junior/subordinated tranches with the NPBs and urges them to continue to do so; invites the EIB to discuss whether it would be useful to incorporate NPB expertise into the SB;
Amendment 269 #
Motion for a resolution
Paragraph 27 a (new)
Paragraph 27 a (new)
27a. Underlines that EFSI, in particular in view of its review should effectively improve social and economic convergence of Member States and regions within the Union, in particular by enhancing the support to micro-SMEs; calls in particular for the EIB, in the framework of the EIF to present and implement the new products foreseen under the SMEW to accelerate the implementation of its mandate in InnovFin, COSME and RCR, as established in the regulatory framework of the EFSI, in particular the SMES Equity Product, the uncapped guarantees for riskier loans to innovative SMEs and small mid-caps, and last but not least, the uncapped guarantees for the EU programme for Employment and Social Innovation EaSI, which is to foster access to micro-finance for vulnerable groups, micro-enterprises and social enterprises
Amendment 270 #
Motion for a resolution
Paragraph 27 b (new)
Paragraph 27 b (new)
Amendment 366 #
Motion for a resolution
Paragraph 48
Paragraph 48
48. Expresses concern that the direct support given to financial intermediaries, which are then responsible for the allocation of EU financing, might lead to situations in which the end beneficiary is not aware of benefitting from EFSI financing and calls for solutions to be found to improve EFSI’s visibility; invitecalls, therefore, the EIB to include in EFSI contracts a notspecific clause making it clear to the project promoter that the financing received has been made possible by the EFSI/EU budget;