Activities of Soraya POST related to 2016/0281(COD)
Plenary speeches (1)
European Fund for Sustainable Development (EFSD) and establishing the EFSD Guarantee and the EFSD Guarantee Fund (debate)
Shadow reports (1)
REPORT on the proposal for a regulation of the European Parliament and of the Council on the European Fund for Sustainable Development (EFSD) and establishing the EFSD Guarantee and the EFSD Guarantee Fund PDF (1006 KB) DOC (137 KB)
Amendments (36)
Amendment 77 #
Proposal for a regulation
Recital 1
Recital 1
(1) The Union's ambitious External Investment Plan (EIP) is needed to support investments starting in Africa and the Union's Neighbourhood as a means to promote the sustainable development goals of the United Nations 2030 Agenda for Sustainable Development ('the 2030 Agenda'), in particular poverty eradication, as well as the commitments under the recently revised European Neighbourhood Policy thus addressing root causes of migrationmigratory pressures stemming from poverty, underdevelopment, inequality, demographic growth, lack of employment and economic opportunities as well as from climate change. It should also contribute to the implementation of the Paris Agreement on Climate Change (COP 21).
Amendment 92 #
Proposal for a regulation
Recital 2 a (new)
Recital 2 a (new)
(2a) The EFSD should contribute to the implementation of the UN's Agenda 2030 which recognizes international migration as a multi-dimensional reality of major relevance for the development of countries of origin, transit and destination, and requiring coherent and comprehensive responses while underlining the potential for migrants contributing to inclusive growth and sustainable development.
Amendment 100 #
Proposal for a regulation
Recital 4
Recital 4
(4) The European Fund for Sustainable Development (EFSD), as part of the EIP, should provide an integrated financial package to finance and attract investments starting in regions of Africa for countries that are signatories to the Partnership Agreement between the members of the African, Caribbean and Pacific Group of States of the one part, and the European Community and its member Statesfostering sustainable and inclusive economic and social development and promoting the socio- economic resilience of partner countries, while maximising additionality, addressing market failures and sub- optimal investment situations, and crowding-in private sector funds. The EFSD's operations should be clearly distinct from, and complementary to, of the other part, signed in Cotonou on 23 June 200022 and the Neighbourhood countries, thereby creating growth and er support, in particular the external lending mandate operations of the European Investment Bank (EIB), the Economic Resilience Initiative, and the ACP-IF Facility. EFSD guarantee operations should also be comployement opportunities, maximary to the existing additionality, delivering innovative products, and crowding-in private sector funds. __________________ 22OJ L 317, 15.12.2000 as last amended by OJ L 287, 4.11.2010ctivities of other eligible financial institutions and cover blind spots in investment that they are currently not able to meet.
Amendment 112 #
Proposal for a regulation
Recital 4 a (new)
Recital 4 a (new)
(4a) In order to fulfil the political commitments of the Union on renewable energy and climate change, including resource efficiency, a minimum share of 35 % of the funding allocated under the EFSD should be devoted to financing and investment operations relevant for those sectors, thus contributing to the implementation of the Paris Agreement on Climate Change.
Amendment 132 #
Proposal for a regulation
Recital 8
Recital 8
(8) Moreover, the Strategic Board should support the Commission in setting strategic guidance and overall investment goals. The Strategic Board should also support coordination and coherence between the regional platforms. This should ensure complementarity of the various instruments in external action. The Strategic BThe strategic board should be co- chaired by the Commission and the High Representative of the Unioin for Foreign Affairs and Security Policyder to ensure consistency and coherence with Union external policy objectives, and partnership frameworks with third countrieswith the Union's other efforts addressing the root causes of migration, as well as Policy Coherence for Development.
Amendment 136 #
Proposal for a regulation
Recital 8 a (new)
Recital 8 a (new)
(8a) European Union Delegations in partner countries should promote access to, and actively provide information on the EFSD, and enhance coherence between the use of the guarantee, use of blended finance under the regional platforms, the provision of enhanced targeted technical assistance, and policy dialogues in their respective country.
Amendment 144 #
Proposal for a regulation
Recital 10 a (new)
Recital 10 a (new)
(10a) The EFSD guarantee should be managed so as to provide a level playing field for eligible counterparts, avoid conflicts of interest and be efficient with due regard to the objective of crowding in private sector for financing investments and maximising additionality.
Amendment 152 #
Proposal for a regulation
Recital 15
Recital 15
(15) As the funds of the EDF are to be used for the countries eligible under the 11th European Development Fund (EDF)25, it requires the allocation of a minimum of EUR 400 000 000 of EFSD Guarantee coverage for investments throughout the implementation period of the EFSD Guarantee. The EFSD Guarantee should only become available when a contribution of EUR 400 000 000 of 11th EDF funds have been allocated to the EFSD Guarantee Fund has been confirmed. __________________ 25 Internal Agreement between the Representatives of the Governments of the Member States of the European Union, meeting within the Council, on the financing of European Union aid under the multiannual financial framework for the period 2014 to 2020, in accordance with the ACP-EU Partnership Agreement and on the allocation of financial assistance for the Overseas Countries and Territories to which Part Four of the Treaty on the Functioning of the European Union applies (OJ L 210, 6.8.2013, p. 1).
Amendment 159 #
Proposal for a regulation
Recital 16
Recital 16
(16) The Commission should report annually to the European Parliament and the Council and the Joint Parliamentary Assembly ACP-EU on the financing and investment operations covered by the EFSD Guarantee with a view to ensuring accountability to the European citizens and partner countries. The report should be made public in order to allow relevant stakeholders, including civil society, to express their views. The Commission should also report annually to the European Parliament and the Council on the management of the EFSD Guarantee Fund so that accountability and transparency are ensured.
Amendment 163 #
Proposal for a regulation
Recital 16 a (new)
Recital 16 a (new)
(16a) In order to ensure the monitoring and accountability of the EFSD and of the External Investment Plan, the European Parliament may organise regular and structured exchanges of views as part of an investment dialogue with the Commission, the High Representative, the EIB and other eligible financial institutions as well as private sector and civil society organisations.
Amendment 188 #
Proposal for a regulation
Article 3 – paragraph 2
Article 3 – paragraph 2
2. The EFSD shall contribute to the achievement of the Sustainable Development Goals of the 2030 Agenda with a particular focus on sustainabland be guided by the objectives set out in Article 21 of the Treaty on European Union (TEU) and Article 208 TFEU and the internationally agreed development effectiveness principles, thus contributing to the Union's development and Neighbourhood policies, with a particular focus on poverty eradication, long-term sustainable and inclusive growth, job creation, socio-economic sectors and on the support to micro, small and medium sized enterprises, thus addressing. In so doing, the EFSD shall, inter alia, contribute to addressing the specific socio-economic root causes of migration and contributing tofoster sustainable reintegration of returned migrants inmigrants returning to their countries of origin while maximising additionalor transity, delivering innovative products and crowding in private sector fundas well as strengthen resilience of host communities.
Amendment 197 #
Proposal for a regulation
Article 3 a (new)
Article 3 a (new)
Article 3a In the regions and countries where it operates, the EFSD shall contribute to the objectives set out in the basic acts of the relevant Union external financing instruments and shall be consistent with the priorities contained in the national or regional programmes, where available.
Amendment 201 #
Proposal for a regulation
Article 4 – paragraph 2
Article 4 – paragraph 2
2. The management of the EFSD shall be ensured by the Commission. The Commission shall work in close cooperation with the EIB and with the other eligible counterparts as regards the operational management of the EFSD Guarantee. To that end, a technical working group shall be put in place. An agreement shall be concluded with the EIB specifying the conditions of their cooperation in the management of the EFSD, in consultation with other eligible counterparts.
Amendment 207 #
Proposal for a regulation
Article 5 – paragraph 1 – subparagraph 2
Article 5 – paragraph 1 – subparagraph 2
Amendment 209 #
Proposal for a regulation
Article 5 – paragraph 1 a (new)
Article 5 – paragraph 1 a (new)
1a. As soon as possible in the implementation phase of the EFSD, the Strategic Board shall adopt and publish guidelines setting out in detail how conformity of EFSD operations with the objectives and eligibility criteria laid down in Art. 8 is to be ensured.
Amendment 219 #
Proposal for a regulation
Article 5 – paragraph 2
Article 5 – paragraph 2
2. The strategic board shall be composed of representatives of the Commission and of the High Representative, of the Union for Foreign Affairs and Security Policy (High Representative), of thecontributing Member States and of the EIB. The Commission may invite other contributors to become members of the strategic board having regard where appropriate to the view of the board. Partner CThe European Parliament shall have observer status. Observers designated by the European Parliament shall have the right to contribute to the deliberations without the right to vote. Partner countries and relevant regional organisations, and the eligible counterparts and the European Parliament may be given observer status, where appropriate. The strategic board shall be co-chaired by the Commission and the High Representative.
Amendment 224 #
Proposal for a regulation
Article 5 a (new)
Article 5 a (new)
Article 5a Technical assistance and advisory support The Commission and the High Representative, through a central secretariat as well the Union delegations, shall act as a single point of entry for authorities, and project promoters. It shall proactively provide advisory support in the identification, preparation, development and promotion of investment projects, on the use of technical assistance for project structuring, and on the use of innovative financial instruments and public-private partnerships as well as on identifying opportunities for promoting gender equality. In doing so, it shall seek to use the expertise of the EIB and other eligible counterparts. The Commission shall maintain a public investment pipeline containing current projects and attracting future ones under the EFSD. It shall establish a dedicated project web-portal. In the context of the annual budgetary procedure, the budgetary authority may decide to reinforce the relevant programmes with a view to increase the amount for technical assistance. Technical assistance may also be used to achieve the objectives set out in Art. 5 c on policy dialogue.
Amendment 225 #
Proposal for a regulation
Article 5 b (new)
Article 5 b (new)
Article 5b Policy dialogue In the context of the Union's existing political relations with partner countries, the Commission and the High Representative shall maintain policy dialogues aimed at improving the investment climate and overall policy environment and developing legal frameworks, policies and institutions that are more effective and promote economic stability, sustainable investment and inclusive growth. The policy dialogues shall include, among other issues, the fight against corruption and organised crime, illicit financial flows, sustainable energy and climate action, respect of human rights and the rule of law as well as gender-responsive policies with a focus on addressing the policy and regulatory restrictions, which contribute to gender gaps in access to finance and entrepreneurship. In implementing the EFSD, its governing bodies and the Commission shall look more favourably to financing and investment operations in partner countries that undertake measures aimed at facilitating the success of investments backed by the EFSD and at contributing further to achieving the objectives set out in this Regulation.
Amendment 231 #
Proposal for a regulation
Article 7 – paragraph 3
Article 7 – paragraph 3
3. The maximum period allowed for eligible counterparts to conclude agreements with co-financing private sector partners, financial intermediaries or final beneficiaries shall be four years after the conclusion of the relevant guarantee agreement.
Amendment 234 #
Proposal for a regulation
Article 8 – paragraph 1 – introductory part
Article 8 – paragraph 1 – introductory part
1. The financing and investment operations eligible for support through the EFSD Guarantee shall be in line with the purpose of the EFSD, as described in Article 3, and in full respect of the list of excluded activities listed in Article 20. They shall be consistent and aligned with Union policies, in particular development and neighbourhood policies of the Union, as well as the partner countries' strategies and policies and aim at supporting the following general objectives:
Amendment 251 #
Proposal for a regulation
Article 8 – paragraph 1 – point b
Article 8 – paragraph 1 – point b
(b) targetstrengthen socio-economic sectors, in particular infrastructure including renewable and sustainable energy, water and waste, transport, information and communications technologies, environment, sustainable use of natural resources and blue growth, social infrastructure, human capital, in order to improve the socio-economic environment;
Amendment 254 #
Proposal for a regulation
Article 8 – paragraph 1 – point c
Article 8 – paragraph 1 – point c
(c) provide finance in favour ofsupport private sector development with a particular focus on local companies and micro-, small- and medium- sized enterprises with a particular focus on private sector developmentespecially those operating in fragile states and LDCs;
Amendment 265 #
Proposal for a regulation
Article 8 – paragraph 1 – point d
Article 8 – paragraph 1 – point d
(d) provide financial instruments aimed at addressing the bottlenecks to private investaddress bottlenecks to private investments by providing financial instruments, including first loss guarantees to portfolios guarantees to private sector projects such as loan guarantees for small and medium-sized enterprises and guarantees for specific risks for infrastructure projects and other risk capital; financial instruments provided may include be denominated in local currencies of partner countries;
Amendment 271 #
Proposal for a regulation
Article 8 – paragraph 1 – point e a (new)
Article 8 – paragraph 1 – point e a (new)
(ea) contribute to climate action, environmental protection and management, thus producing climate co- benefits allocating at least 35 % of the financing to investments with components that contribute to climate action, renewable energy and resource efficiency.
Amendment 294 #
Proposal for a regulation
Article 8 – paragraph 2 a (new)
Article 8 – paragraph 2 a (new)
2a. The EFSD shall not be used to replace government responsibility for public services.
Amendment 299 #
Proposal for a regulation
Article 8 – paragraph 4
Article 8 – paragraph 4
4. The Commission mashall be empowered to adopt delegated acts in accordance with Article 20 a to supplement this Regulation by defineing investment windows for specific regions or partner countries or for both, for specific sectors, for specific projects or for specific categories of final beneficiaries or for both to be funded by instruments referred to in Article 9 to be covered by the EFSD Guarantee up to a fixed amount. All requests for financial support within investment windows shall be made to the Commission.
Amendment 302 #
Proposal for a regulation
Article 8 – paragraph 4 a (new)
Article 8 – paragraph 4 a (new)
4a. The Commission shall be empowered to adopt delegated acts in accordance with Article 20a to supplement this Regulation by establishing and publishing a scoreboard of indicators to be used to ensure an independent and transparent assessment of the potential and actual operations backed by the EFSD Guarantee.
Amendment 310 #
Proposal for a regulation
Article 10 – paragraph 2 a (new)
Article 10 – paragraph 2 a (new)
2a. The Commission shall ensure a level-playing field for eligible counterparts and promote cooperation between them. It shall ensure an absence of conflicts of interest throughout the stages of implementation of the EFSD. In order to ensure complementarity, the eligible counterparts shall provide any relevant information about their non- EFSD operations.
Amendment 321 #
Proposal for a regulation
Article 11 – paragraph 4 – subparagraph 2
Article 11 – paragraph 4 – subparagraph 2
At the request of the Member States and subject to approval by the Strategic Board, the contributions made by them may be earmarked for the initiation of projects in specific regions, countries, sectors or or existing investment windows.
Amendment 327 #
Proposal for a regulation
Article 12 – paragraph 3 – point a a (new)
Article 12 – paragraph 3 – point a a (new)
(aa) the objectives and purpose of this Regulation, a needs assessment and an indication of the expected results taking into account the promotion of corporate social responsibility, including in particular through adherence to all internationally agreed by the EU guidelines, principles and legal instruments, in particular those listed in Annex a.
Amendment 329 #
Proposal for a regulation
Article 12 – paragraph 4 – point c
Article 12 – paragraph 4 – point c
(c) the amount of own resources as well as private sector co-financing that the counterpart is ready to mobilise for the investment window.
Amendment 361 #
Proposal for a regulation
Article 16 – paragraph 1
Article 16 – paragraph 1
1. By 31 December 202019, the Commission shall evaluate the functioning of the EFSD, its management and its effective contribution to the purpose and objectives of this regulation. The Commission shall submit its evaluation report to the European Parliament and the Council, containing an independent evaluation of the application of this Regulation. This report shall be submitted without delay by the Commission in the event that accompanied by a reasoned proposal with a view to reviewing or amending this Regulation, as appropriate, in particular withe approved financing and view to extending the initial investment operations absorb in full the amount of the EFSD Guarantee available before 30 June 2020iod referred to in Article 7(2). That evaluation report shall be accompanied by an opinion of the Court of Auditors.
Amendment 365 #
Proposal for a regulation
Article 16 – paragraph 2 a (new)
Article 16 – paragraph 2 a (new)
2a. by 30 June 2018, the Commission, in cooperation with the European External Action Service (EEAS) shall establish a framework and methodology for assessing the compliance with Article 21 TEU.
Amendment 368 #
Proposal for a regulation
Article 17 – paragraph 1
Article 17 – paragraph 1
In accordance with its transparency policies and general Union principrules on access to documents and information, the eligible counterparts shall proactively and systematically make publicly available on their websites information relating to all financing and investment operations covered by the EFSD Guarantee under this Regulation, relating in particular to the manner in which those operations contribute to the requirements of this Regulation. Where possible, such information shall be broken down at project level and include information on the ultimate beneficiaries, taking into account the protection of confidential and commercially sensitive information.
Amendment 381 #
Proposal for a regulation
Article 20 – paragraph 2 a (new)
Article 20 – paragraph 2 a (new)
Amendment 386 #
ANNEX a LIST OF INTERNATIONAL GUIDELINES, PRINCIPLES AND ILO CONVENTIONS REFERRED TO IN ARTICLES 12 (3) and 20 (3) (a) International Guidelines and Principles – United Nations Principles for Responsible Investment – United Nations Guiding Principles on Business and Human Rights – OECD Guidelines for Multinational Enterprises – FAO (Committee on World Food Security) Principles for Responsible Investment in Agriculture and Food Systems (b) International Labour Organization Conventions – ILO Convention 87 on Freedom of Association and the Protection of the Right to Organise; – ILO Convention 98 on the Right to Organise and Collective Bargaining; – ILO Convention 29 on Forced Labour; – ILO Convention 105 on the Abolition of Forced Labour; – ILO Convention 138 on Minimum Age; – ILO Convention 111 on Discrimination (Employment and Occupation); – ILO Convention 100 on Equal Remuneration; – ILO Convention 182 on Worst Forms of Child Labour;