Activities of Marian HARKIN related to 2015/0009(COD)
Plenary speeches (1)
European Fund for Strategic Investments (A8-0139/2015 - José Manuel Fernandes, Udo Bullmann)
Amendments (13)
Amendment 75 #
Proposal for a regulation
Recital 10
Recital 10
(10) The purpose of the EFSI should be to help resolve the difficulties in financing and implementing productive investments in the Union and to ensure increased access to financing, and to support job creation. It is intended that increased access to financing should be of particular benefit to small and medium enterprises. It is also appropriate to extend the benefit of such increased access to financing to mid- cap companies, which are companies having up to 3000 employees. Overcoming Europe's current investment difficulties should contribute to strengthening the Union's economic, social and territorial cohesion.
Amendment 88 #
Proposal for a regulation
Recital 11
Recital 11
(11) The EFSI should support strategic investments with high economic value added contributing to achieving Union policy objectives. Using the EFSI to boost investment in education and social infrastructure can help to improve cohesion in Europe, which has declined sharply.
Amendment 135 #
Proposal for a regulation
Recital 16
Recital 16
(16) The EFSI should target investments that are expected to be economically and technically viable, which may entail a degree of appropriate risk, whilst still meeting and offer significant potential for creating jobs. The level of risk entailed by those investments should be appropriate to the achievement of the fund’s objectives, in particular as regards job creation, provided that the particular requirements for EFSI financing are met.
Amendment 138 #
Proposal for a regulation
Recital 16 a (new)
Recital 16 a (new)
(16a) The Steering Board of the EFSI will determine the investment policy of projects that can be supported and the risk profile. Given that the selection of projects will depend on this policy, the European Parliament should be involved in drawing up the criteria.
Amendment 148 #
Proposal for a regulation
Recital 17
Recital 17
(17) Decisions on the use of the EFSI support for infrastructure and large mid- cap projects should be made by an Investment Committee. The Investment Committee should be composed of independent experts who can identify projects offering the greatest potential for resolving Europe’s major social and economic problems and are knowledgeable and experienced in the areas of investment projects. The Investment Committee should be accountable to a Steering Board of the EFSI, who should supervise the fulfilment of the EFSI's objectives. To effectively benefit from the experience of the EIF, the EFSI should support funding to the EIF to allow the EIF to undertake individual projects in the areas of small and medium enterprises and small mid-cap companies.
Amendment 154 #
Proposal for a regulation
Recital 18
Recital 18
(18) In order to enable the EFSI to support investments, the Union should grant a guarantee of an amount equal to EUR 16 000 000 000. When provided on a portfolio basis, the guarantee coverage should be capped depending upon the type of instrument, such as debt, equity or guarantees, as a percentage of the volume of the portfolio of outstanding commitments. It is expected that when the guarantee is combined with EUR 5 000 000 000 to be provided by the EIB, that the EFSI support should generate EUR 60 800 000 000 additional investment by the EIB and EIF. This EUR 60 800 000 000 supported by the EFSI is expected to generate a total of EUR 315 000 000 000 in investment in the Union within the period 2015 to 2017, thus demonstrating the emergency nature of the fund and the need for it to have an immediate impact in the next three years. Guarantees that are attached to projects which are completed without a call on a guarantee are available for supporting new operations.
Amendment 173 #
Proposal for a regulation
Recital 25
Recital 25
(25) The EIB should regularly evaluate activities supported by the EFSI with a view to assessing their relevance, performance and impact, notably as regards their social and economic impact, paying particular attention to job creation, and to identifying aspects that could improve future activities. Such evaluations should contribute to accountability and analysis of sustainability.
Amendment 198 #
Proposal for a regulation
Recital 34
Recital 34
(34) To ensure accountability to European citizens, the EIB should regularly report to the European Parliament and the Council on the progress and impact of the EFSIreal social and economic impact of the EFSI, paying particular attention to job creation.
Amendment 236 #
Proposal for a regulation
Article 3 – paragraph 1
Article 3 – paragraph 1
1. The EFSI Agreement shall provide that the EFSI shallis to be governed by a Steering Board, which shallis to determine the strategic orientation, the strategic asset allocation and operating policies and procedures, including the investment policy of projects that EFSI can support and the risk profile of the EFSI, in conformity with the objectives under Article 5(2), subject to the prior approval of the criteria by the European Parliament. In determining the investment policy of the EFSI, the Steering Board shall take into consideration the socioeconomic indicators of European areas affected by large pockets of unemployment. The Steering Board shall elect one of its members to be Chairperson.
Amendment 264 #
Proposal for a regulation
Article 3 – paragraph 5 – subparagraph 2
Article 3 – paragraph 5 – subparagraph 2
The Investment Committee shall be composed of six independent experts and the Managing Director. Independent experts shall have a high level of relevant market experience in project finance and be able to identify those projects which are more likely to be able to solve major social and economic problems. The experts shall be appointed by the Steering Board for a renewable fixed term of threone years.
Amendment 335 #
Proposal for a regulation
Article 10 – paragraph 2 – point d a (new)
Article 10 – paragraph 2 – point d a (new)
(da) an assessment of the impact of EIB financing and investment operations in terms of job creation;
Amendment 354 #
Proposal for a regulation
Article 12 – paragraph 5
Article 12 – paragraph 5
5. At the latest [PO insert date three years after the entry into force of this Regulation], the Commission shall submit a report to the European Parliament and the Council a comprehensive quality assessment to evaluate the true socio- economic effect of this special strategic plan on the application of this Regulation accompanied by any relevant proposal.
Amendment 1334 #
Proposal for a regulation
Article 13 – paragraph 1
Article 13 – paragraph 1