Activities of Sander LOONES related to 2016/0276(COD)
Shadow reports (1)
REPORT on the proposal for a regulation of the European Parliament and of the Council amending Regulations (EU) No 1316/2013 and (EU) 2015/1017 as regards the extension of the duration of the European Fund for Strategic Investments as well as the introduction of technical enhancements for that Fund and the European Investment Advisory Hub PDF (1 MB) DOC (183 KB)
Amendments (9)
Amendment 71 #
Proposal for a regulation
Recital 2
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 reinforcedinvestment environment within the Union should continue to be improved by carrying out the necessary structural reforms, removing barriers to investment, completing the Single Market and the Capital markets union, actively pursuing the Commission's better regulation agenda and by reducing regulatory red tape. Also the functioning of the Investment Plan should be improved in order to continue the mobilisation of private investments in sectors important to Europe's future and where market failures or sub-optimal investment situations remain.
Amendment 76 #
Proposal for a regulation
Recital 3
Recital 3
(3) On 1 June 2016 the Commission Although according to article 18 paragraph 6 and 7 of Regulation (EU) 2015/1017 the Commission should have submitted to the European Parliament and the Council by 5 July 2018 a report containing an independent evaluation of the application of this Regulation, and the Commission should have submitted a legislative proposal to amend this Regulation only in the event this report concluded that maintaining a scheme for supporting investment is warranted, the Commission issued a Communication entitled ‘'Europe investing again – Taking stock of the Investment Plan for Europe and next steps’' already on 1 June 2016, just one year after the entry into force of this regulation and before the publication of the independent evaluation, outlining the achievements of the Investment Plan so far and the envisaged next steps, including the premature extension of the European Fund for Strategic Investments (EFSI) beyond its initial three-year period, the scaling-up of the Small and Medium- sized Enterprises (SME) Window within the existing framework and the enhancement of the European Investment Advisory Hub (EIAH).
Amendment 94 #
Proposal for a regulation
Recital 6
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, tThe drive to meet this quantitative target has sometimes prevailed over the additionality of the projects selected. The Commission is therefore committed to the doubling of the EFSI, both in terms of duration and financial capacextend the investment period of EFSI and raise the level of additionality. 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,. In order to enhance the firepower of the EFSI. Member States shcould also contribute as a matter of priority.
Amendment 101 #
Proposal for a regulation
Recital 7
Recital 7
(7) For the period after 2020, the Commission inteThe EFSI is meant to tackle the investment gap and is therefore by nature a temporary instrument, discussions on the extension or smooth termination of the Fund after 2020 should be based on reports submitted by the Commission to the European Parliament ands to put forwardhe Council with independent evaluations on the nesuccessary proposals to ensure that strategic investment will continue at a sustainable level of EFSI, in particular with regard to the additionality of the projects, and the wider investment situation in the EU.
Amendment 143 #
Proposal for a regulation
Recital 9 a (new)
Recital 9 a (new)
(9 a) The fulfilment of the additionality criteria is dependent upon region specific economic conditions, as a project may be additional in one region but not in another. The Investment Committee, therefore should take into account region specific conditions when assessing compliance with the additionality criterion.
Amendment 183 #
Proposal for a regulation
Recital 13
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 ofn order to remove any incentive to select investments that are not fully additional merely to make the quantitative goals, EFSI will no longer have an investment target. EFSI should lead to a high quality and innovative additional investment in the real economy by the end of 2020.
Amendment 221 #
Proposal for a regulation
Recital 21
Recital 21
(21) The European Investment Advisory Hub (EIAH) should be enhanced and its activities should focus on needs not covered adequately under current arrangemenshould make efforts to contribute actively where possible towards sectorial and geographic diversification of the EFSI and support the EIB where needed in originating projects. 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.
Amendment 449 #
Proposal for a regulation
Article 1 – paragraph 1 – point 10 – point -a (new)
Article 1 – paragraph 1 – point 10 – point -a (new)
Regulation (EU) No 2015/1017
Article 18 – paragraph 3 – point a
Article 18 – paragraph 3 – point a
(-a) In paragraph 3, point (a) is replaced by the following: ‘(a) the EIB shall publish a comprehensive report on the functioning of the EFSI, which shall include an evaluation of the impact of the EFSI on investment in the Union, employment creation and access to financing for SMEs and mid-cap companies; and an evaluation of the degree of additionality obtained at the level of each Member State and each region;’
Amendment 494 #
Proposal for a regulation
Annex II – point 2 a (new)
Annex II – point 2 a (new)
Regulation (EU) No 2015/1017
Annex II – section 3 – point d a (new)
Annex II – section 3 – point d a (new)
(2 a) in Section 3, point (da) is added: ‘(d a) attention shall be paid to region specific conditions when assessing the additionality.’