28 Amendments of Vladimir URUTCHEV related to 2015/0009(COD)
Amendment 202 #
Proposal for a regulation
Recital 11
Recital 11
(11) The EFSI should support strategic investments with high economic and societal value added contributing to achieving Union policy objectives in synergy and additionality with existing EU operations, including the 2014-2020 cohesion policy. The EFSI should improve the competitiveness of the European enterprises through enhancing the access to funding, supporting innovation and research, and lead to the enhancement of the regulatory environment.
Amendment 266 #
Proposal for a regulation
Recital 14
Recital 14
(14) The EFSI should target projects delivering high societal and economic value. In particular, the EFSI should target projects that promocreate job creations, long- term growth, innovation and competitiveness. The EFSI should support a wide range of financial products, including equity, debt or guarantees, to best accommodate the needs of the individual project. This wide range of products should allow the EFSI to adapt to market needs whilst encouraging private investment in the projects. The EFSI should not be a substitute for private market finance but should instead catalyse private finance by addressing market failures so as to ensure the most effective and strategic use of public money. The requirement for consistency with State aid principles should contribute to such effective and strategic use.
Amendment 297 #
Proposal for a regulation
Recital 15
Recital 15
(15) The EFSI should target projects with a higher risk-return profile than existing EIB and Union instruments to ensure additionality over existing operations. The EFSI should finance projects across the Union, including in the countries most affected by the financial crisis through geographically and sector balanced strategic investments. The EFSI should only be used where financing is not available from other sources on reasonable terms.
Amendment 338 #
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 are knowledgeable and experienced in the areas of investment projects. The Investment Committee should be accountable to an independent 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 372 #
Proposal for a regulation
Recital 19
Recital 19
(19) In order to allow for further increase in its resources, participation in the EFSI should be open to third parties, including Member States, national promotional banks or public agencies owned or controlled by Member States, private sector entities and entities outside the Union subject to the consent of existing contributors. Third parties may contribute directly to the EFSI and take part in the EFSI governance structureco-finance operations.
Amendment 413 #
Proposal for a regulation
Recital 23
Recital 23
Amendment 431 #
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, additionality to EU funding instruments, value added and impact and to identifying aspects that could improve future activities. Such evaluations should contribute to accountability and analysis of sustainability.
Amendment 449 #
Proposal for a regulation
Recital 26
Recital 26
(26) Alongside the financing operations that will be conducted through the EFSI, a European Investment Advisory Hub ('EIAH') should be created. The EIAH should provide strengthened supportdecentralised on the ground and strengthened technical assistance for project development and preparation across the Union, by building on the expertise of the Commission, the EIB, national promotional banks and the managing authorities of the European Structural and Investment Funds. This should establish a single point of entry for questions related to technical assistance for investments within the Union. EIAH should add value to and coordinate with existing technical assistance facilities.
Amendment 454 #
Proposal for a regulation
Recital 27
Recital 27
(27) In order to cover the risks related to the EU guarantee to the EIB, a guarantee fund should be established. The guarantee fund should be constituted by a gradual payment from the Union budget. The guarantee fund should subsequently also receive revenues and repayments from projects that benefit from EFSI support and amounts recovered from defaulting debtors where the guarantee fund has already honoured the guarantee to the EIB. Revenues and repayments from operations should only recover the initial guarantee amount.
Amendment 575 #
Proposal for a regulation
Article 1 – paragraph 1 – subparagraph 2
Article 1 – paragraph 1 – subparagraph 2
The purpose of the EFSI shall be to support investments in the Union and to ensure increased access to financing for companies having up to 3000 employees, with a particular focus on small and medium enterprises and innovative companies, through the supply of risk bearing capacity to the EIB ('EFSI Agreement').
Amendment 626 #
Proposal for a regulation
Article 2 – paragraph 1 – subparagraph 1 – point a
Article 2 – paragraph 1 – subparagraph 1 – point a
(a) provisions governing the legal status and the establishment of the EFSI as a distinct, clearly identifiable and transparent guarantee facility and separate account managed by the EIB;
Amendment 702 #
Proposal for a regulation
Article 2 – paragraph 2 – subparagraph 1
Article 2 – paragraph 2 – subparagraph 1
The EFSI Agreement shall provide for the creation of a European Investment Advisory Hub ('EIAH') within the EIB. The EIAH shall have as its objective to build upon existing EIB and Commission advisory services in order to provide decentralised on the ground advisory support for investment project identification, preparation and development and act as a single technical advisory hub for project financing within the Union. This shall include support on the use of technical assistance for project structuring, use of innovative financial instruments, use of public-private partnerships and advice, as appropriate, on relevant issues of EU legislation.
Amendment 716 #
Proposal for a regulation
Article 2 – paragraph 2 – subparagraph 2
Article 2 – paragraph 2 – subparagraph 2
To meet that objective, the EIAH shall use the expertise of the EIB and its existing technical assistance facilities, the Commission, national promotional banks and the managing authorities of the European Structural and Investment Funds.
Amendment 758 #
Proposal for a regulation
Article 3 – paragraph 1
Article 3 – paragraph 1
1. The EFSI Agreement shall provide that the EFSI shall be governed by an independent Steering Board, which shall set detailed investment guidelines, 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). The Steering Board shall elect one of its members to be Chairperson.
Amendment 786 #
Proposal for a regulation
Article 3 – paragraph 2 – subparagraph 1
Article 3 – paragraph 2 – subparagraph 1
Amendment 799 #
Proposal for a regulation
Article 3 – paragraph 3 – subparagraph 1
Article 3 – paragraph 3 – subparagraph 1
Amendment 839 #
Proposal for a regulation
Article 3 – paragraph 5 – subparagraph 1
Article 3 – paragraph 5 – subparagraph 1
The EFSI Agreement shall provide that the EFSI shall have an Investment Committee, which shall be responsible for examining potential operations in line with the EFSI investment policies and approving the support of the EU guarantee for operations in line with Article 5, irrespective of their geographic location. The investment Committee shall evaluate project proposals based upon clear criteria and methodology developed and agreed upon with the member states.
Amendment 924 #
Proposal for a regulation
Article 5 – paragraph 2 – subparagraph 1 – introductory part
Article 5 – paragraph 2 – subparagraph 1 – introductory part
The EU guarantee shall be granted for EIB financing and investment operations approved by the Investment Committee referred to in Article 3(5) or funding to the EIF in order to conduct EIB financing and investment operations in accordance with Article 7(2). The operations concerned shall be consistent with Union policies and supportcontribute to recovering EU's economic convergence, be consistent with Union policies and ensure additionality to existing EU funding through any of the following general objectives:
Amendment 1002 #
Proposal for a regulation
Article 5 – paragraph 2 – subparagraph 1 – point e
Article 5 – paragraph 2 – subparagraph 1 – point e
(e) providenabling financial support for the companies referred to in Article 1(1), including working capital risk financing.
Amendment 1008 #
Proposal for a regulation
Article 5 – paragraph 2 – subparagraph 1 – point e a (new)
Article 5 – paragraph 2 – subparagraph 1 – point e a (new)
(ea) investments in other sectors where a necessity could occur
Amendment 1225 #
Proposal for a regulation
Article 10 – paragraph 1 a (new)
Article 10 – paragraph 1 a (new)
1a. The report shall elaborate on the principles of sound financial management, transparency, proportionality, non-discrimination, equal treatment, additionality, non-distortion of competition, alignment of interest between the Commission and the partner financial institution.
Amendment 1256 #
Proposal for a regulation
Article 10 – paragraph 2 – point f
Article 10 – paragraph 2 – point f
(f) the financial statements of the EFSI, accompanied by an opinion of an independent external auditor .
Amendment 1323 #
Proposal for a regulation
Article 12 – paragraph 4
Article 12 – paragraph 4
4. The EIB and EIF shall on a regular basis provide the European Parliament, the Council and the Commission with all their independent evaluation reports which assess the practical results achieved by the specific activities of the EIB and EIF under this Regulation, focusing on outcomes and impacts.
Amendment 1326 #
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 on the application of this Regulation, including assessment of the value added of the EFSI and its additionality to existing EU funding instruments, accompanied by any relevant proposal. for improvements.
Amendment 1354 #
Proposal for a regulation
Article 14 – paragraph 1
Article 14 – paragraph 1
The operations carried out under the EFSI and the instruments/entities/facilities which will be set up, along with the EU guarantee and the payments and recoveries under it that are attributable to the general budget of the Union shall be audited by the Court of Auditors.
Amendment 1410 #
Proposal for a regulation
Article 18 – paragraph 1 – point 1
Article 18 – paragraph 1 – point 1
Regulation (EU) No 1291/2013
Article 6, paragraphs 2, (a)
Article 6, paragraphs 2, (a)
Amendment 1418 #
Proposal for a regulation
Article 18 – paragraph 1 – point 1
Article 18 – paragraph 1 – point 1
Regulation (EU) No 1291/2013
Article 6, paragraphs 2, (i)
Article 6, paragraphs 2, (i)
Amendment 1441 #
Proposal for a regulation
Article 19
Article 19
Regulation (EU) No 1291/2013
Article 5, paragraph 1
Article 5, paragraph 1