Activities of Barbara KAPPEL related to 2016/0276(COD)

Proposal for a regulation
Recital 2

(2) That positive momentum should be maintained and efforts need to be continued to bring investment back to its long-term sustainable trend. The mechanisms of the Investment Plan work and should be reinforced to continue the mobilisation of private investments in sectors important to Europe's future and where market failures or sub-optimal investment situations remain, without losing attention to institutional and sectoral problems which cause such market failures and sub-optimal investment situations.

2017/03/29
Committee: CONT

Proposal for a regulation
Recital 4

(4) The EFSI, implemented and co- sponsored by the EIB Group, is ~~firmly~~ on track to deliver the objective of mobilising at least EUR 315 billion in additional investments in the real economy by mid- 2018. The market absorption has been particularly quick under the SME Window where the EFSI is delivering well beyond expectations. In July 2016 the SME Window was thus scaled-up by EUR 500 million within the existing parameters of Regulation (EU) No 2015/1017. A larger share of financing to be geared towards SMEs given the exceptional market demand for SME financing under the EFSI: 40% of the increased risk bearing capacity of the EFSI should be geared towards increasing access to financing for SMEs.

2017/03/29
Committee: CONT

(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, t~~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.

2017/03/29
Committee: CONT

Proposal for a regulation
Recital 1

(1) Since the Investment Plan for Europe was presented in November 20143, the conditions for ~~an uptake in~~ investments have improved and confidence in Europe’s economy and growth ~~are~~is returning. The Union is now in its fourth year of moderate ~~recovery~~upturn, with Gross Domestic Product growing at 2% in 2015~~. The comprehensive efforts initiated with the Investment Plan are already delivering concrete results~~, despite the fact that macroeconomic effects of larger investment projects can~~not~~ be ~~immediate~~measured only with a time lag. Investment is expected to pick up gradually throughout 2016 and 2017 although it remains below historical levels. __________________ 3 COM(2014) 903 final. COM(2014) 903 final.

2017/03/02
Committee: ITRE

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.

2017/03/29
Committee: CONT

Proposal for a regulation
Recital 10

(10) Due to their potential to increase the efficiency of the EFSI intervention, blending operations combining non- reimbursable forms of support and/or financial instruments from the Union budget, such as those available under the Connecting Europe Facility, and financing from EIB Group, including EIB financing under the EFSI, as well as other investors should be encouraged. Blending aims to enhance the value added of Union spending by attracting additional resources from private investors and to ensure the actions supported become economically and financially viable.deleted

2017/03/29
Committee: CONT

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

2017/03/29
Committee: CONT

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 countryisation. Energy interconnection priority projects and energy efficiency projects should also be increasingly targeted. 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.

2017/03/02
Committee: ITRE

Proposal for a regulation
Recital 12

(12) For the full investment period, the Union should provide a Union guarantee (the 'EU guarantee') which should not, at any time, exceed EUR 26 000 000 000 in order to enable the EFSI to support investments, of which a maximum of EUR 16 000 000 000 should be available prior to 6 July 2018.deleted

2017/03/29
Committee: CONT

Proposal for a regulation
Recital 13

(13) It is expected that when the EU guarantee is combined with the EUR 7 500 000 000 to be provided by the EIB, the EFSI support should generate EUR 100 000 000 000 additional investment by the EIB and EIF. The amount of EUR 100 000 000 000 supported by the EFSI is expected to generate at least EUR 500 000 000 000 of additional investment in the real economy by the end of 2020.deleted

2017/03/29
Committee: CONT

Proposal for a regulation
Recital 14

(14) In order to partly finance the contribution from the general budget of the Union to the EU guarantee fund for the additional investments to be made, a transfer should be made from the available envelope of the Connecting Europe Facility (CEF), provided for in Regulation (EU) No 1316/2013 of the European Parliament and of the Council4 . Moreover, EUR 1 145 797 000 of appropriations should be transferred from the CEF financial instruments to the grant part of the CEF with a view to facilitating blending with the EFSI or to other relevant instruments, in particular those dedicated to energy efficiency. _________________ 4Regulation (EU) No 1316/2013 of the European Parliament and of the Council of 11 December 2013 establishing the Connecting Europe Facility, amending Regulation (EU) No 913/2010 and repealing Regulations (EC) No 680/2007 and (EC) No 67/2010, OJ L 348, 12.2013, p. 129.deleted

2017/03/29
Committee: CONT

Proposal for a regulation
Recital 15

(15) On the basis of the experience acquired with the investments supported by the EFSI, the target amount of the guarantee fund should be brought to 35 % of the total EU guarantee obligations ensuring an adequate level of protection.deleted

2017/03/29
Committee: CONT

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. 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 and provide advice on the combination of other sources of Union funding with the EFSI.deleted

2017/03/29
Committee: CONT

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.~~steps must be taken to also make the EFSI known to a broader public and accessible for investment projects in Member States with less-developed and transition regions;

2017/03/02
Committee: ITRE

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 on the EIB’s EFSI website once an operation under the EU guarantee is signed.

2017/03/02
Committee: ITRE

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~~. 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 and provide advice on the combination of other sources of Union funding with the EFSI. Notes however that the EIAH has already dealt with some 230 requests from 27 Member States and the EIPP has already published more than 100 investment projects since its launch on 1 June 2016.

2017/03/02
Committee: ITRE

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~~also pay attention to supporting the preparation of projects involving two or more Member States and projects that contribute to achieving the objectives of COP21. 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 and provide advice on the combination of other sources of Union funding with the EFSI.

2017/03/02
Committee: ITRE

Proposal for a regulation
Recital 21 a (new)

(21a) Recalls that the advisory hub has been established to help project promoters to develop their projects so that they fulfil the eligibility criteria according to the EFSI regulation; calls on the EIB, EFSI and advisory hub to prioritise on efficient and effective communication with promoters with a view to maximising the benefits that the latter can bring in overcoming investment barriers;

2017/03/02
Committee: ITRE

Proposal for a regulation
Recital 21 b (new)

(21b) Notes that one entity can receive resources from both ESI Funds and EFSI for the same project if the respective conditions are met, underlines that this practice opens the door to confusion, misunderstanding and possibly abuse; instructs the Commission to investigate and report on such projects; calls on the Commission to take the necessary measures against possible abuse of ESI Funds and EFSI resources for political purposes; calls on the Commission to investigate and scrutinise possible ties between projects and politicians and political pressure groups;

2017/03/02
Committee: ITRE

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

Regulation (EU) 2015/1017
Article 9 – paragraph 2 – subparagraph 1 a

(b) in paragraph 2, the following subparagraph is added: ‘The EIB shall target that at least 40 % 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.’deleted

2017/03/02
Committee: ITRE