BETA

8 Amendments of Romana JORDAN related to 2011/0394(COD)

Amendment 172 #
Proposal for a regulation
Article 2 – paragraph 1 – introductory part
1. The Programme shall contribute to the following general objectives, paying particular attention to the specific needs of SMEs at European and global level:in the EU and in third countries participating in the Programme in accordance with Article 5.
2012/07/05
Committee: ITRE
Amendment 182 #
Proposal for a regulation
Article 2 – paragraph 1 – point a
(a) strengthening the competitiveness and sustainability of the Union’s enterprises including in the tourism sector;
2012/07/05
Committee: ITRE
Amendment 265 #
Proposal for a regulation
Article 4 – paragraph 1
1. The financial envelope for implementing the Programme shall be EUR 2.522 billion, of which approximately t least [EUR 1.4 billion / 55.5%] shall be allocated to financial instruments.
2012/07/05
Committee: ITRE
Amendment 353 #
Proposal for a regulation
Article 8 – paragraph 3
3. Details of the actions referred to in paragraph 1 of this Article are laid down in Annex IIrticle 14(1a).
2012/07/05
Committee: ITRE
Amendment 412 #
Proposal for a regulation
Article 14 – paragraph 1 a (new)
1a. The equity facility of the Competitiveness and SME Programme, the Equity Facility for Growth (EFG), shall be implemented as a window of a single Union equity financial instrument supporting Union enterprises’ growth and RDI from the early stage (including seed) to the growth stage and financially supported by the Horizon 2020 and this Programme. EFG shall use the same delivery mechanism as the equity facility for RDI to be established under Horizon 2020, according to the terms set out below. The Loan Guarantee Facility (LGF) shall be implemented as part of a single EU debt financial instrument for EU enterprises' growth and RDI, using the same delivery mechanism as the SME demand-driven window of the debt facility under Horizon 2020 (RSI II), according to the terms set out below. The equity and loan guarantees facilities shall comply with the provisions regarding financial instruments in the Financial Regulation and in the Delegated Act replacing the Implementing Rules and with more detailed specific operational requirements to be set out in Commission guidance. The equity and loan guarantee facilities will be complementary to the Member States' use of financial instruments for SMEs in the framework of cohesion policy. The equity and loan guarantee facilities may, where appropriate, allow pooling of financial resources with Member States willing to contribute part of the Structural Funds allocated to them in accordance with [Article 33(1)(a) of the Structural Funds Regulation]. Revenues and repayments related to the High Growth and Innovative SME Facility (GIF 2) under the Competitiveness and Innovation Framework Programme shall be assigned to the Competitiveness and SME Programme. The financial instruments for growth- oriented SMEs shall be implemented in compliance with the relevant Union State aid rules.
2012/07/05
Committee: ITRE
Amendment 413 #
Proposal for a regulation
Article 14 – paragraph 1 b (new)
1b. The EFG shall focus on funds that provide venture capital and mezzanine finance, such as subordinated and participating loans, to expansion and growth-stage enterprises, in particular those operating across borders, while having the possibility to make investments in early stage enterprises in conjunction with the equity facility for RDI under Horizon 2020. In the latter case, the investment from EFG shall not exceed 20% of the total Union investment except in cases of multi-stage funds, where funding from EFG and the equity facility for RDI will be provided on a pro rata basis, based on the funds' investment policy. The EFG shall avoid buy-out or replacement capital intended for the dismantling of an acquired enterprise. The Commission may decide to amend the 20% threshold in light of changing market conditions. Support shall be in the form of one of the following investments: (a) directly by the European Investment Fund (EIF) or other entities entrusted with the implementation on behalf of the Commission; or (b) by funds-of-funds or investment vehicles investing across borders established by the EIF or other entities entrusted with the implementation on behalf of the Commission together with private investors and/or national public financial institutions;
2012/07/05
Committee: ITRE
Amendment 414 #
Proposal for a regulation
Article 14 – paragraph 1 c (new)
1c. The LGF shall be operated by the EIF or other entities entrusted with the implementation on behalf of the Commission. The facility shall provide: (a) counter-guarantees and other risk sharing arrangements for guarantee schemes; (b) direct guarantees and other risk sharing arrangements for any other financial intermediaries meeting the eligibility criteria. The LGF shall consist of the following two actions: the first action, debt financing via loans, including subordinated and participating loans, or leasing, shall reduce the particular difficulties that SMEs face in accessing finance either due to their perceived high risk or their lack of sufficient available collateral; the second action, securitisation of SME debt finance portfolios, shall mobilise additional debt financing for SMEs under appropriate risk-sharing arrangements with the targeted institutions. Support for those transactions shall be conditional upon an undertaking by the originating institutions to use a significant part of the resulting liquidity or the mobilised capital for new SME lending in a reasonable period of time. The amount of this new debt financing shall be calculated in relation to the amount of the guaranteed portfolio risk and shall be negotiated, together with the period of time, individually with each originating institution. Except in the case of loans in the securitised portfolio, the LGF shall cover loans with a minimum maturity of 12 months. The LGF shall be designed in such way that it will be possible to report on the innovative SMEs supported, both in terms of number and volume of loans.
2012/07/05
Committee: ITRE
Amendment 453 #
Proposal for a regulation
Annex II
The Annex shall be deleted.
2012/07/05
Committee: ITRE