14 Amendments of Roberts ZĪLE related to 2016/0276(COD)
Amendment 30 #
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, theIn spite of European Court of Auditors opinion1a noting that the plans to extend EFSI duration were drawn up too soon and there being little evidence that the increase in funding is justified, Commission is committed to the doubling of the EFSI, both in terms of duration and financial capacity. The legal extension covers the period of the current Multiannual Financial Framework and shcould 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, Member States shwould also contribute as a matter of priority. need to make additional contributions. ___________________ 1aEuropean Court of Auditors (2016) EFSI: an early proposal to extend and expand, Opinion 2/2016. Available at: http://www.eca.europa.eu/Lists/News/NE WS1611_11/OP16_02_EN.pdf [Accessed 24 January 2017]
Amendment 35 #
Proposal for a regulation
Recital 8
Recital 8
(8) The extended EFSI should address remaining market failures and sub- opthe noticeable weaknesses in its functioning thus far, notably the geographical concentration of investment whereby after the first year of operations 92 per cent of the EFSI related investment landed in the EU-15 countries whilst the EU-13 countries received just 8 per cent.1a The undeserving of the EU-13 countries has a potentimal investment situations anto widen social and economic disparities between the EU's Western and Eastern regions. The extended EFSI should thus strongly address its objective of strengthening of the Union's economic, social and territorial cohesion. EFSI should continue to mobiliseing private sector financing in investments crucial for Europe’'s future job creation – including for the youth –, growth and competitiveness with strengthened additionality. They include investments in the areas of energy, environment and climate action, social and human capital and related infrastructure, healthcare, research and innovation, cross- border and sustainable transport, as well as the digital transformation. In particular, the contribution of operations supported by the EFSI to achieving the Union's ambitious targets set at the Paris Climate Conference (COP21) should be reinforced. Energy interconnection priority projects and energy efficiency projects should also be increasingly targeted. In addition, EFSI support to motorways should be avoided, unless it is needed to support private investment in transport in cohesion countries or in cross-border transport projects involving at least one cohesion country. For reasons of clarity, although they are already eligible, it should be explicitly laid down that projects in the fields of agriculture, fishery and aquaculture come within the general objectives eligible for EFSI support. ________________ 1aEuropean Investment Bank (2016) Evaluation of the functioning of the European Fund for Strategic Investments (EFSI), September 2016. Available at: http://www.eib.org/attachments/ev/ev_eval uation_efsi_en.pdf [Accessed 24 January 2017]
Amendment 43 #
Proposal for a regulation
Recital 9
Recital 9
(9) Additionality, a key feature of the EFSI, should be strengthened in the selection of projects. In particular, operations should only be eligible for EFSI support if they address clearly identified market failures or sub-optimal investment situations and support the Fund's other objectives including strengthening the Union's economic, social and territorial cohesion. Operations in infrastructure under the Infrastructure and Innovation Window linking two or more Member States, including e-infrastructure, should be considered additional given their inherent difficulty and their high added value for the Union.
Amendment 49 #
Proposal for a regulation
Recital 11
Recital 11
(11) In order to reinforce the take-up of the EFSI in less-developed and transition regions and to correct EFSI's current underserving of the EU-13 countries, the scope of the general objectives eligible for EFSI support should be enlarged.
Amendment 57 #
Proposal for a regulation
Recital 16 a (new)
Recital 16 a (new)
(16a) The first year of experience shows that the EFSI has been effective in increasing the volume of EIB special activities in favour of SMEs and mid-cap companies but has not been successful in boosting the volume of transport and mobility projects to a sufficient extent, especially in the Eastern EU countries. It is therefore necessary to adopt further measures to better address the difficulties faced by Member States and project promoters in proposing infrastructure projects, in particular transport projects contributing to the achievement of climate change objectives.
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.’