32 Amendments of Maria Gabriela ZOANĂ related to 2018/0229(COD)
Amendment 49 #
Proposal for a regulation
Recital 11
Recital 11
(11) According to the 2018 Global Risks Report issued by the World Economic Forum, half of the ten most critical risks threatening the global economy relate to the environment. Such risks include air, soil and water pollution, extreme weather events, biodiversity losses and failures of climate-change mitigation and adaptation. Environmental principles are strongly embedded in the Treaties and many of the Union’s policies. Therefore, the mainstreaming of environmental objectives should be promoted in the InvestEU Fund related operations. Environmental protection and related risk prevention and management programmes, including cross-border programmes and those organised with third countries, should be integrated in the preparation and implementation of investments. The EU should also track its biodiversity-related and air pollution control-related expenditure in order to fulfil the reporting obligations under the Convention on Biological Diversity and Directive (EU) 2016/2284 of the European Parliament and of the Council15. Investment allocated to environmentally sustainability objectives should therefore be tracked using common methodologies coherent with that developed under other Union programmes applying to climate, biodiversity and air pollution management in order to allow assessing the individual and combined impact of investments on the key components of the natural capital, including air, water, land and biodiversity. _________________ 15 Directive (EU) 2016/2284 of the European Parliament and of the Council of 14 December 2016 on the reduction of national emissions of certain atmospheric pollutants, amending Directive 2003/35/EC and repealing Directive 2001/81/EC (OJ L 344, 17.12.2016, p. 1).
Amendment 59 #
Proposal for a regulation
Recital 14
Recital 14
(14) Whereas the level of overall investment in the Union is increasing, investment in higher-risk activities such as research and, innovation and new technologies is still inadequate. The resulting underinvestment in research and, innovation and new technologies is damaging to the industrial and economic competitiveness of the Union and the quality of life of its citizens. The InvestEU Fund should provide the appropriate financial products to cover different stages in the innovation cycle and a wide range of stakeholders, in particular to allow the upscaling of and deployment of solutions at a commercial scale in the Union, in order to make such solutions competitive on world markets.
Amendment 63 #
Proposal for a regulation
Recital 16
Recital 16
(16) Small and medium-sized enterprises (SMEs) play a crucial role in the Union. However, they face challenges when accessing finance because of their perceived high risk and lack of sufficient collateral. Additional challenges arise from SMEs’ need to stay competitive by engaging in digitisation, internationalisation, marketing and innovation activities and skilling up their workforce. Moreover, compared to larger enterprises, they have access to a more limited set of financing sources: they typically do not issue bonds, have only limited access to stock exchanges or large institutional investors. The challenge in accessing finance is even greater for those SMEs whose activities focus on intangible assets. SMEs in the Union rely heavily on banks and debt financing in the form of bank overdrafts, bank loans or leasing. Supporting SMEs that face the above challenges and providing more diversified sources of funding is necessary for increasing the ability of SMEs to finance their creation, growth and development, withstand economic downturns, and for making the economy and the financial system more resilient during economic downturn or shocks. This is also complementary to the initiatives already undertaken in the context of the Capital Markets Union. The InvestEU Fund should provide an opportunity to focus on specific, more targeted financial products.
Amendment 77 #
Proposal for a regulation
Recital 20
Recital 20
(20) The Member State compartment should be specifically designed to allow the use of funds under shared management to provision a guarantee issued by the Union. That combination aims at mobilising the high credit rating of the Union to promote national and regional investments while ensuring a consistent risk management of the contingent liabilities by implementing the guarantee given by the Commission under indirect management. The Union should guarantee the financing and investment operations foreseen by the guarantee agreements concluded between the Commission and implementing partners under the Member State compartment, the Funds under shared management should provide the provisioning of the guarantee, following a provisioning rate determined by the Commission based on the nature of the operations and the resulting expected losses, and the Member State would assume losses above the expected losses by issuing a back-to-back guarantee in favour of the Union. Such arrangements should be concluded in a single contribution agreement with each Member State that voluntarily chooses such option. The contribution agreement should encompass the one or more specific guarantee agreements to be implemented within the Member State concerned on the basis of fund rules and operational programme provisions. The setting out of the provisioning rate on a case by case basis requires a derogation from [Article 211(1)] of Regulation (EU, Euratom) No XXXX19 (the ‘Financial Regulation’). This design provides also a single set of rules for budgetary guarantees supported by funds managed centrally or by funds under shared management, which would facilitate their combination. _________________ 19
Amendment 82 #
Proposal for a regulation
Recital 27
Recital 27
Amendment 88 #
Proposal for a regulation
Recital 29
Recital 29
(29) In selecting implementing partners for the deployment of the InvestEU Fund, the Commission should consider the counterpart’s capacity to fulfil the objectives of the InvestEU Fund and contribute its own resources, in order to ensure adequate geographical coverage and diversification, to crowd-in private investors and to provide sufficient risk diversification as well as new solutions to address market failures and sub-optimal investment situations. Given its role under the Treaties, its capacity to operate in all Member States and the existing experience under the current financial instruments and the EFSI, the European Investment Bank (‘EIB’) Group should remain a privileged implementing partner so as to receive 75 % of the EU guarantee under the InvestEU Fund’s EU compartment. In addition to the EIB Group, national promotional banks or institutions should be able to offer a complementary financial product range given that their experience and capabilities at regional level could be beneficial for the maximisation of the impact of public funds on the territory of the Union. Moreover, it should be possible to have other international financial institutions as implementing partners, in particular when they present a comparative advantage in terms of specific expertise and experience in certain Member States. It should also be possible for other entities fulfilling the criteria laid down in the Financial Regulation to act as implementing partners.
Amendment 90 #
Proposal for a regulation
Recital 30
Recital 30
Amendment 96 #
Proposal for a regulation
Recital 31
Recital 31
(31) The EU guarantee under the Member State compartment should be allocated to any implementing partner eligible according to [Article 62(1)(c)] of the [Financial Regulation] on the basis of a similar selection procedure for each Member State, including national or regional promotional banks or institutions, the EIB, the European Investment Fund and other multilateral development banks. When selecting implementing partners under the Member State compartment, the Commission should take into account the proposals made by each Member State. In accordance with [Article 154] of the [Financial Regulation], the Commission must carry out an assessment of the rules and procedures of the implementing partner to ascertain that they provide a level of protection of the financial interest of the Union equivalent to the one provided by the Commission.
Amendment 118 #
Proposal for a regulation
Article 3 – paragraph 1 – point c
Article 3 – paragraph 1 – point c
(c) thecohesion, social resilience and inclusiveness of the Union;
Amendment 129 #
Proposal for a regulation
Article 4 – paragraph 1 – subparagraph 2
Article 4 – paragraph 1 – subparagraph 2
An additional amount of the EU guarantee may be provided for the purposes of the Member State compartment referred to in point (b) of Article 8(1), subject to the allocation by Member States, pursuant to [Article 10(1)] of Regulation [[CPR] number]28 and Article [75(1)] of Regulation [[CAP plan] number]29, of the corresponding amounts. _________________ 28 29 equivalent to the provisioning of the additional guarantee. The provisioning rate would be contained in the contribution agreement referred to in Article 9(3).
Amendment 140 #
Proposal for a regulation
Article 7 – paragraph 1 – point a
Article 7 – paragraph 1 – point a
(a) sustainable infrastructure policy window: comprises sustainable investment in the areas of transport, energy, digital infrastructure, digital connectivity, 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;
Amendment 142 #
Proposal for a regulation
Article 7 – paragraph 1 – point a
Article 7 – paragraph 1 – point a
(a) sustainable infrastructure policy window: comprises sustainable investment in the areas of transport, energy, digital connectivity, supply and processing of raw materials, space, oceans and water, waste, nature and other environment infrastructure, cultural heritage, equipment, mobile assets and deployment of innovative technologies that contribute to the economic, environmental or social sustainability objectives of the Union, or to both, or meet the environmental or social sustainability standards of the Union;
Amendment 146 #
Proposal for a regulation
Article 7 – paragraph 1 – point b
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;
Amendment 148 #
Proposal for a regulation
Article 7 – paragraph 1 – point c
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;
Amendment 153 #
Proposal for a regulation
Article 7 – paragraph 1 – point d
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 education, social and student housing); social innovation; health and long-term care; inclusion and accessibility; cultural activities with a social goal; integration of vulnerable people, including third country nationals.
Amendment 155 #
Proposal for a regulation
Article 7 – paragraph 3 – subparagraph 1
Article 7 – paragraph 3 – subparagraph 1
Financing and investment operations under the sustainable infrastructure policy window referred to in point (a) of paragraph (1) shall be subject to climate, environmental and social sustainability proofing with a view to minimise detrimental impacts and maximise benefits on climate, environment and social dimension. For that purpose, promoters requesting financing shall provide adequate information based on guidance to be developed by the Commission before the entry into force of the Regulation. Projects below a certain size defined in the guidance shall be excluded from the proofing.
Amendment 158 #
Proposal for a regulation
Article 7 – paragraph 3 – subparagraph 2 – point c
Article 7 – paragraph 3 – subparagraph 2 – point c
(c) estimate the impactsocial impact, including on the social inclusion of certain areas or populations.
Amendment 174 #
Proposal for a regulation
Article 9 – paragraph 4 – subparagraph 1
Article 9 – paragraph 4 – subparagraph 1
The contribution agreements shall be implemented by the Commission through guarantee agreements, based on a standard template, signed with implementing partners pursuant to Article 14.
Amendment 185 #
Proposal for a regulation
Article 12 – paragraph 1 – subparagraph 2
Article 12 – paragraph 1 – subparagraph 2
For the EU compartment, the eligible counterparts shall have expressed their interest and shall be able to cover financing and investment operations in at least three Member States. The implementing partners may also cover togethertheir selection must ensure that financing and investment operations in at leastcover all three Member States by forming a group.
Amendment 190 #
Proposal for a regulation
Article 12 – paragraph 2 – introductory part
Article 12 – paragraph 2 – introductory part
2. When selecting implementing partners, the Commission shall ensure that their proposal for the portfolio of financial products under the InvestEU Fund:
Amendment 194 #
Proposal for a regulation
Article 14 – paragraph 2 – point f
Article 14 – paragraph 2 – point f
(f) the commitment of the implementing partner to accept the decisions by the Commission and the Investment Committee as regards the use of the EU guarantee for the benefit of a proposed financing or investment operation, without prejudice to the decision-making of the implementing partner on the proposed operation without the EU guarantee;
Amendment 201 #
Amendment 202 #
Proposal for a regulation
Article 18 – paragraph 1
Article 18 – paragraph 1
Amendment 203 #
Proposal for a regulation
Article 18 – paragraph 2
Article 18 – paragraph 2
Amendment 204 #
Amendment 205 #
Proposal for a regulation
Article 18 – paragraph 4 – subparagraph 1
Article 18 – paragraph 4 – subparagraph 1
Amendment 206 #
Proposal for a regulation
Article 18 – paragraph 4 – subparagraph 2
Article 18 – paragraph 4 – subparagraph 2
The project teamimplementing partner shall prepare the scoreboard on the proposed financing and investment operations for the Investment Committee.
Amendment 223 #
Proposal for a regulation
Article 20 – paragraph 2 – point a
Article 20 – paragraph 2 – point a
(a) providing a single point of entry for project development assistance for authorities and project promoters for centrally managed Union programmesUnion programmes under direct, indirect or shared management;
Amendment 230 #
Proposal for a regulation
Article 22 – paragraph 5
Article 22 – paragraph 5
5. In addition, each implementing partner shall submit every six months a report to the Commission on the financing and investment operations covered by this Regulation, broken down by the EU compartment and the Member State compartment by Member State, as appropriate. The implementing partner shall also submit this report to the Member State whose compartment it serves. The report shall include an assessment of compliance with the requirements on the use of the EU guarantee and with the key performance indicators laid down in Annex III to this Regulation. The report shall also include operational, statistical, financial and accounting data on each financing and investment operation and at the compartment, policy window and the InvestEU Fund level. One of those reports shall contain the information the implementing partners shall provide in accordance with [Article 155(1)(a)] of the [Financial Regulation].
Amendment 231 #
Proposal for a regulation
Article 23 – paragraph 2
Article 23 – paragraph 2
2. By 30 September 2025, the Commission shall carry outJune 2025, an interim evaluation on the InvestEU Programme, in particular on the use of the EU guarantee, should be carried out.
Amendment 232 #
Proposal for a regulation
Article 23 – paragraph 3
Article 23 – paragraph 3
3. At the end of the implementation of the InvestEU Programme, but no later than four years after the end of the period specified in Article 1, the Commission shall carry out aan independent final evaluation of the InvestEU Programme, in particular on the use of the EU guarantee, should be carried out.
Amendment 236 #
Proposal for a regulation
Article 27 – paragraph 2
Article 27 – paragraph 2
2. The Commission shall implement information and communication actions relating to the InvestEU Programme and its actions and results, including through the national contact points of the Union programmes. Financial resources allocated to the InvestEU Programme shall also contribute to the corporate communication of the political priorities of the Union, as far as they are related to the objectives referred to in Article 3.