BETA

17 Amendments of Maria SPYRAKI related to 2018/0229(COD)

Proposal for a regulation
Recital 19 a (new)

(19a) Member States will have the authority to assess and identify Cohesion Policy objectives to be pursued under the Member State compartment of InvestEU and what portion of ESIF they will dedicate to this delivery mechanism. While contributing funds to InvestEU, Member States shall select which thematic objectives they will pursue, in the context of the InvestEU proposed policy windows, and their ESIF contributions will be subject to the regulatory framework for indirect implementation applicable to InvestEU. The specified objectives shall be protected through the obligations and conditions set out in the agreement with the implementing partner, which will refer to the specific results to be achieved.

2018/10/10
Committee: REGI

Proposal for a regulation
Recital 27

(27) A Project Team consisting of experts put at the disposal of the Commission by the implementing partners in order to provide professional expertise in financial and technical assessment of proposed financing and investment operations should score those submitted by the implementing partners to be assessed by the Investment Committee.deleted

2018/10/10
Committee: REGI

Proposal for a regulation
Article 6 – paragraph 1

1. The EU guarantee ~~shall be implemented in indirect management with bodies referred to in [Article 62(1)(c)(ii) to (vii)] of the [Financial~~under the InvestEU shall be managed by the European Investment Bank in indirect management and shall be implemented by implementing partners in accordance with this Regulation]. Other forms of EU funding under this Regulation shall be implemented in direct or indirect management in accordance with the [Financial Regulation], including grants implemented in accordance with its [Title VIII].

2018/10/10
Committee: REGI

Proposal for a regulation
Article 6 – paragraph 4 a (new)

4a. Financing and investment operations covered by the EU guarantee under the Member State Compartment which form part of blending operation combining support under this Regulation with support provided under one or more other Union programmes can be implemented under shared management.

2018/10/10
Committee: REGI

Proposal for a regulation
Article 7 – paragraph 1 – point a

(a) sustainable infrastructure policy window: comprises sustainable investment in the areas of transport and logistics, energy, digital and broadband connectivity, tourism, supply and processing of raw materials, space, oceans and water, waste, nature and other environment infrastructure, equipment, mobile assets and deployment of innovative technologies that contribute to the environmental or social sustainability objectives of the Union, or to both, or meet the environmental or social sustainability standards of the Union;

2018/10/10
Committee: REGI

(b) research, innovation and digitisation policy window: comprises research and innovation activities, knowledge transfer and transfer of research results to the market, demonstration and deployment of innovative solutions and support to scaling up of innovative companies other than SMEs as well as digitisation of Union industry;

2018/10/10
Committee: REGI

Proposal for a regulation
Article 7 – paragraph 1 – point b

(b) research, innovation and digitisation policy window: comprises research and innovation activities, transfer of research results to the market, demonstration and deployment of innovative solutions and support to scaling up of innovative companies ~~other than SMEs~~ as well as digitisation of Union industry;

2018/10/10
Committee: REGI

Proposal for a regulation
Article 7 – paragraph 1 – point c

(c) SMEs policy window: access to and availability of finance for SMEs and, in duly justified cases, for ~~small~~ mid-cap companies;

2018/10/10
Committee: REGI

Proposal for a regulation
Article 7 – paragraph 1 – point d

(d) social investment and skills policy window: comprises microfinance, social enterprise finance and social economy; skills, education, training and related services; social infrastructure (including social and student housing); social innovation; health and long-term care for active ageing; inclusion and accessibility; cultural activities with a social goal; integration of vulnerable people, including third country nationals.

2018/10/10
Committee: REGI

Proposal for a regulation
Article 7 a (new)

Article 7a Additionality For the purposes of this Regulation, ‘additionality’ means the support by the InvestEU operations which address market failures or sub-optimal investment situations and which could not have been carried out in the period during which the EU guarantee can be used, or not to the same extent, by the EIB, the EIF or under other Union financial instruments without InvestEU support. Projects supported by the InvestEU shall typically have a higher risk profile than projects supported by EIB normal operations and the InvestEU portfolio shall have overall a higher risk profile than the portfolio of investments supported by the EIB under its normal investment policies before the entry into force of this Regulation.

2018/10/10
Committee: REGI

Proposal for a regulation
Article 8 – paragraph 1 – point b

(b) the Member State compartment shall address specific market failures or sub-optimal investment situations in one or several Member States to deliver objectives of the contributing Funds under shared management. The Member State compartment shall consist of two investment windows, the EIB window and the NPBI window.

2018/10/10
Committee: REGI

Proposal for a regulation
Article 10 a (new)

Article 10a Role of the European Investment Bank The European Investment Bank shall be the entrusted entity managing indirectly the InvestEU Guarantee under both the EU and the Member State Compartment and will act as a conduit for implementing partners.

2018/10/10
Committee: REGI

Proposal for a regulation
Article 18

1. A project team consisting of experts, put at the disposal of the Commission by the implementing partners free of charge for the Union budget, shall be established. 2. Each implementing partner shall assign experts to the project team. The number of the experts shall be established in the guarantee agreement. 3. The Commission shall confirm whether the proposed financing and investment operations by the implementing partners comply with Union law and policies. 4. Subject to the confirmation by the Commission referred to in paragraph 3, the project team shall perform a quality control of the due diligence of the proposed financing and investment operations carried out by the implementing partners. Financing and investment operations shall be then submitted to the Investment Committee for approval of the coverage by the EU guarantee. The project team shall prepare the scoreboard on the proposed financing and investment operations for the Investment Committee. The scoreboard shall, in particular, contain an assessment of: (a) the risk profile of the proposed financing and investment operations; (b) the benefit for final recipients; (c) the respect of the eligibility criteria. Each implementing partner shall provide adequate and harmonised information to the project team in order for it to be able to carry out its risk analysis and prepare the scoreboard. 5. A project team expert shall not assess the due diligence or appraisal relating to a potential financing or investment operation submitted by the implementing partner that has put the expert at the disposal of the Commission. That expert shall also not prepare the scoreboard in relation to those proposals. 6. Each project team expert shall declare to the Commission any conflict of interest and shall communicate without delay to the Commission all information needed to check on an ongoing basis the absence of any conflict of interest. 7. The Commission shall lay down detailed rules for the functioning of the project team and for the verification of conflict of interest situations. 8. The Commission shall lay down detailed rules for the scoreboard to enable the Investment Committee to approve the use of the EU guarantee for a proposed financing or investment operation.Article 18 deleted Project team

2018/10/10
Committee: REGI

Proposal for a regulation
Article 19 – paragraph 1 – introductory part

1. An independent Investment Committee shall be established. It shall

2018/10/10
Committee: REGI

Proposal for a regulation
Article 19 – paragraph 2 – subparagraph 5

Four members shall be permanent members of all four configurations of the Investment Committee. In addition, the four configurations shall each have two experts with experience in investment in sectors covered by that policy window. At least one of the permanent members shall have expertise in sustainable investment. The Commission shall assign the Investment Committee members to its appropriate configuration or configurations. The Investment Committee shall elect a chairperson from among its permanent members. Where involved, implementing partners should participate in the Investment Committee.

2018/10/10
Committee: REGI

Proposal for a regulation
Article 19 – paragraph 2 – subparagraph 6

The ~~Commission~~European Investment Bank shall adopt the rules of procedure and ~~manag~~provide the secretariat for the Investment Committee.

2018/10/10
Committee: REGI

Proposal for a regulation
Article 20 – paragraph 1 – subparagraph 1

The InvestEU Advisory Hub shall be managed by the European Investment Bank and will build on the expertise of the Commission, the EIB Group and other institutions, such as NPBIs, and shall provide advisory support for the identification, preparation, development, structuring, procuring and implementation of investment projects, or enhance the capacity of promoters and financial intermediaries to implement financing and investment operations. Its support may cover any stage of the life-cycle of a project or financing of a supported entity, as appropriate.

2018/10/10
Committee: REGI