76 Amendments of Jean-Paul DENANOT related to 2015/0009(COD)
Amendment 15 #
Proposal for a regulation
Recital 2
Recital 2
(2) Comprehensive action is required to reverse the vicious circle created by a lack of investment. Structural reforms and fiscal responsibility are necessary preconditions for supporting growth and stimulating investment. Along with a renewed impetus towards investment financing, these preconditions can contribute to establishing a virtuous circle, where investment projects help support employment and demand and lead to a sustained increase in growth potential.
Amendment 25 #
Proposal for a regulation
Recital 8
Recital 8
(8) The EFSI is part of a comprehensive approach to address uncertainty surrounding public and private investments. The strategy has three pillars: mobilising finance for investment, making investment reach the real economy and improving the investment environment in the Union; this strategy is complementary to objectives promoting the Union's economic, social and territorial cohesion in the European Union and within the Member States.
Amendment 29 #
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. 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, particularly in rural, remote and disadvantaged areas.
Amendment 34 #
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, especially in terms of social, economic and territorial cohesion through the development of social infrastructures in education, health, research, development, information technology and communication and innovation, as well as expansion of renewable energy and energy efficiency, infrastructure projects in the field of environment, natural resources and urban development, and the promotion of services of general interest, particularly in terms of quality, safety, affordability, equal treatment, universality and user rights, that are common values recognized by Protocol No. 26 TEU and TFUE. Besides, the CAP, being the only fully communitised field of policy, is of territorial application and is therefore very well suited to carry out projects which can complement those supported by the EFSI. Many of the existing instruments of the CAP make targeted investments successfully.
Amendment 43 #
Proposal for a regulation
Recital 12
Recital 12
(12) Many small and medium enterprises, as well as mid-cap companies, across the Union require assistance to attract market financing, especially as regards investments that carry a greater degree of risk. This is particularly true of businesses in rural areas, where economic growth and the preservation of services and jobs are urgently needed in order to prevent rural depopulation. The EFSI should help these businesses to overcome capital shortages by allowing the EIB and the European Investment Fund ('EIF') to provide direct and indirect equity injections, as well as to provide guarantees for high-quality securitisation of loans, and other products that are granted in pursuit of the aims of the EFSI.
Amendment 48 #
Proposal for a regulation
Recital 13
Recital 13
(13) The EFSI should be established within the EIB in order to benefit from its experience and proven track record and in order for its operations to start to have a positive impact as quickly as possible. The work of the EFSI on providing finance to small and medium enterprises and small mid-cap companies shouldmay be channelled through the European Investment Fund ('EIF') and the EIB to benefit from its experience in these activities.
Amendment 72 #
Proposal for a regulation
Recital 20 a (new)
Recital 20 a (new)
(20a) The financial contributions of Member States to the EFSI, including their possible participation in investment platforms, shall not be taken into account by the European Commission in the definition of budget adjustments as under the preventive arm that under the corrective arm of the Stability and Growth Pact.
Amendment 80 #
Proposal for a regulation
Recital 28
Recital 28
(28) The guarantee fund is intended to provide a liquidity cushion for the Union budget against losses incurred by the EFSI in pursuit of its objectives. Experience on the nature of investments to be supported by the EFSI indicates that a ratio of 530% between the payments from the Union budget and from the Union's total guarantee obligations would be adequate.
Amendment 81 #
Proposal for a regulation
Recital 29
Recital 29
(29) Tohe partially finance the contribution ofrom the EUnion budget, the available envelopes of the Horizon 2020 – the Framework Programme for Research and Innovation 2014-2020, provided by Regulation (EU) No 1291/2013 of the European Parliament and of the Council2 , and the Connecting Europe Facility, provided by Regulation (EU) No 1316/2013 of the European Parliament and of the Council3 , should be reduced. Those programmes serve purposes that are not replicated by the EFSI. However, the reduction of both programmes to finance the guarantee fund is expected to ensure a greater investment in certain areas of their respective mandates than is possible through the existing programmes. The EFSI should be able to leverage the EU guarantee to multiply the financial effect within those areas of research, development and innovation and transport, telecommunications and energy infrastructure compared to if the resources had been spent via grants within the planned Horizon 2020 and Connecting Europe Facility programmes. It is, therefore, appropriate to redirect part of the funding presently envisaged for those programmes to the benefit of EFSI. __________________ 2Regulation (EU) No 1291/2013 of the European Parliament and of the Council of 11 December 2013 establishing Horizon 2020 - the Framework Programme for Resear will gradually be established by the co-legislators in the annual budgetary procedure until 2020. In this regard, the budgetary authority will have to properly use all the flexibility mech and Innovation (2014-2020) and repealing Decision No 1982/2006/EC (OJ L 347, 20.12.2013, p. 104). 3Regulation (EU) No 1316/2013 of the European Parliamentisms and of the Council of 11 December 2013 establishing the Connecting Europe Facility, amendingr provisions under Regulation (EU) No 91311/2010 and repealing Regulations (EC) No 680/2007 and (EC) No 67/2010 (OJ L 348, 20.12.2013, p. 1293 (EU, Euratom).
Amendment 86 #
Proposal for a regulation
Recital 1
Recital 1
(1) The economic and financial crisis has led to a lowering of the level of investments within the Union. Investment has fallen by approximately 15% since its peak in 2007, impacting all European regions, especially the less developed ones. The Union suffers in particular from a lack of investment as a consequence of market uncertainty regarding the economic future and the fiscal constraints on Member States. This lack of investment, which particularly impacts the Member States most affected by the crisis, slows economic recovery and negatively affects job creation, long-term growth prospects and competitiveness.
Amendment 90 #
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, through the supply of risk bearing capacity to the EIB, with particular priority being assigned to businesses and social-cooperative bodies in rural areas and in structurally weak and disadvantaged areas, as well as areas in extremely peripherial locations ('EFSI Agreement').
Amendment 100 #
Proposal for a regulation
Article 1 – paragraph 2 – subparagraph 1 (new)
Article 1 – paragraph 2 – subparagraph 1 (new)
(1) For the purposes of this Regulation, the following definitions apply: (a)´EFSI Agreement´ means the legal instrument whereby the Commission and the EIB specify the conditions laid down in this Regulation for the management of the EFSI; (b) ´national promotional banks or institutions´ means legal entities carrying out a financial activity on a professional basis and upon which are conferred a public mandate by a Member State, whether at central, regional or local level, to carry out public development or promotional activities on a non-commercial basis, seeking to address market failures; (c) ´investment platforms´ means special purpose vehicles, managed accounts, contract-based co-financing or risk sharing arrangements or arrangements established by any other means by which investors channel a financial contribution in order to finance a number of investment projects and which may include national platforms that regroup several investment projects on the territory of a given Member State, multi-country or regional platforms that regroup several Member States interested in large projects in a given geographic area, or thematic platforms, which could gather investment projects in a given sector; (d) 'small and medium-sized enterprises (SMEs)' means micro, small and medium-sized enterprises as defined in Commission Recommendation 2003/361/EC; (e) ´mid-cap companies´ means legal entities having up to 3000 employees and that are not SMEs.
Amendment 106 #
Proposal for a regulation
Recital 2
Recital 2
(2) Comprehensive action is required to reverse the vicious circle created by a lack of investment. Structural and fiscal reforms and fiscal responsibility are necessary preconditions for sustaining growth and stimulating investment. Along with a renewed impetus towards investment financing, these preconditions can contribute to establishing a virtuous circle, where investment projects help support employment and demand in the medium and long term and lead to a sustained increase in growth potential.
Amendment 118 #
Proposal for a regulation
Article 5 – paragraph 2 – subparagraph 1 – point a
Article 5 – paragraph 2 – subparagraph 1 – point a
(a) development of infrastructure, including local community related infrastructures, in the areas of transport, particularly in industrial centres; energy, in particular energy interconnections; and digital infrastructure with priority to rural areas lagging behind in fast broadband provisions;
Amendment 123 #
Proposal for a regulation
Article 5 – paragraph 2 – subparagraph 1 – point b
Article 5 – paragraph 2 – subparagraph 1 – point b
(b) investment in education and training, health, research and development, local community capacity building, information and communications technology and innovation;
Amendment 128 #
Proposal for a regulation
Article 5 – paragraph 2 – subparagraph 1 – point d
Article 5 – paragraph 2 – subparagraph 1 – point d
(d) infrastructure projects in the environmental, agricultural, natural resources, rural and urban development and social fields;
Amendment 141 #
Proposal for a regulation
Recital 8
Recital 8
(8) The EFSI is part of a comprehensive approach to address uncertainty surrounding public and private investments. The strategy has three pillars: mobilising finance for investment, making investment reach the real economy and improving the investment environment in the Union. This strategy is complementary to the objectives of economic, social and territorial cohesion between and within EU Member States.
Amendment 142 #
Proposal for a regulation
Article 5 – paragraph 2 – subparagraph 2 – point 1 (new)
Article 5 – paragraph 2 – subparagraph 2 – point 1 (new)
(1) These operations do not, in any case and in any way, contribute to privatise fields of public intervention.
Amendment 145 #
Proposal for a regulation
Article 8 – paragraph 5 – subparagraph 1
Article 8 – paragraph 5 – subparagraph 1
Amendment 146 #
Proposal for a regulation
Article 8 – paragraph 8
Article 8 – paragraph 8
8. From 1 January 2019, if as a result of calls on the guarantee, the level of the guarantee fund falls below 530% of the target amount, the Commission shall submit a report on exceptional measures that may be required to replenish it.
Amendment 154 #
Proposal for a regulation
Article 17 a (new)
Article 17 a (new)
Article 17a Investment clause Under Articles 5 (1) of Regulation No 1466/97 and Article 3 (4) of Regulation No 1467/97 : (a) the financial contributions from Member States or national development banks to the EFSI ; (b) the financial contributions from Member States or national development banks to specialized investment platforms ; (c) the financial contributions of the Member States in the projects supported by the EFSI ; will be regarded as exceptional and will thus not be taken into account by the European Commission in the definition of budget adjustments as under the preventive arm that under the corrective arm of the Stability and Growth Pact .
Amendment 167 #
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 and strategic investments in the Union and to ensure increased access to financing. It is intended that increased access to financing should be of particular benefit to small and medium enterprises, including social and solidarity 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 185 #
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, particularly in terms of social, economic and territorial cohesion, through the development of social infrastructure in education, health, research, development, information and communication technologies and innovation, as well as the expansion of renewables and energy efficiency and infrastructure projects in the environment, natural resources and urban development, and through the promotion of services of general interest, in particular as regards quality, safety, affordability, equality of treatment, universality and users’ rights, which are common values recognised under Protocol 26 TEU and TFEU.
Amendment 234 #
Proposal for a regulation
Recital 13
Recital 13
Amendment 245 #
Proposal for a regulation
Recital 14
Recital 14
(14) The EFSI should target projects delivering high societal and economic, solidarity and sustainable added value. In particular, the EFSI should target projects that promote job creation, long- term growth and, competitiveness and energy transition. 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 246 #
Proposal for a regulation
Recital 14
Recital 14
(14) The EFSI should target projects delivering high societal and economic value and helping to strengthen economic, social and territorial cohesion between and within EU Member States. In particular, the EFSI should target projects that promote sustainable job creation, long- term growth 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 EFSI should also not be a substitute for national financing in the services of general interest sector. The requirement for consistency with State aid principles should contribute to such effective and strategic use: a special Commission communication on this issue accompanies this Regulation.
Amendment 275 #
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 ensuremeet the need for additionality over existing operations. The EFSI should finance projects across the Union, including in the countries most affected by the financial crisis. The EFSI should only be used where financing is not available from other sources on reasonable terms.
Amendment 325 #
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 and partner networking at European, national and local level. The Investment Committee should be accountable to a Steering Board of the EFSI, who should supervise the fulfilment of the EFSI's objectivesand report on its activities to the European Parliament for approval. 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 364 #
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, regional 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 structure.
Amendment 365 #
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. The EFSI should also help support the development of new risk-sharing mechanisms, particularly in the area of the social and solidarity economy. Third parties may contribute directly to the EFSI and take part in the EFSI governance structure.
Amendment 385 #
Proposal for a regulation
Recital 20 a (new)
Recital 20 a (new)
(20a) The Member States’ financial contributions to the EFSI, including their potential participation in investment platforms, shall not be taken into account by the Commission when defining the fiscal adjustments under the preventive and corrective arms of the Stability and Growth Pact.
Amendment 397 #
Proposal for a regulation
Recital 21
Recital 21
(21) Provided that all relevant eligibility criteria are fulfilled, Member States may use European Structural Investment Funds (ESIF) to contribute to the financing of eligible projects that are supported by the EU guarantee in line with the objectives, principles and rules under the legal framework applicable to these funds. The flexibility of this approach should maximise the potential to attract investors to the areas of investment targeted by the EFSI. The ESIF and the EFSI should be complementary and the crowding-out effect between them should be avoided as far as possible: the EFSI may therefore also be used to cofinance eligible projects in the context of the ESIF.
Amendment 405 #
Proposal for a regulation
Recital 22
Recital 22
(22) In accordance with the Treaty on the Functioning of the European Union and for the purposes of legal certainty, Iinfrastructure and project investments supported under the EFSI should be consistent with State aid rules, in particular where such investments are necessary for the performance of services of general economic interest under Article 106(2) TFEU. To that end, the Commission has announced that it will formulate a set of core principles, for the purpose of State aid assessments, which a project will have to meet to be eligible for support under the EFSI. 1. If a project meets these criteria and receives support from the EFSI, the Commission has announced that any national complementary support, will be assessed under a simplified and accelerated State aid assessment whereby the only additional issue to be verified by the Commission will be the proportionality of public support (absence of overcompensation), in compliance with the State aid schemes applicable in the Member State and the Commission’s exemption from notification decisions under Decision 2012/21/EU. 2. It shall specify, in the case where a project fulfils the EFSI criteria, whether that would result in an economic advantage constituting a State aid which would have to be taken into account by the Member State in verifying the absence of overcompensation or compliance with the intensity threshold for aid complementing other State aids granted to that investment. The Commission has also announced that it will provide further guidance on the set of core principles with a view to ensuring an efficient use of public funds.
Amendment 423 #
Proposal for a regulation
Recital 25
Recital 25
(25) The EIB, the European Parliament and the Investment Committee should regularly evaluate activities supported by the EFSI with a view to assessing their relevance, performance and impact and to identifying aspects that could improve future activities. Such evaluations, when published, should contribute to accountability and analysis of sustainability.
Amendment 437 #
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 support for project development and preparation across the Union, by building on the expertise of the Commission, the EIB, national and local 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.
Amendment 457 #
Proposal for a regulation
Recital 28
Recital 28
(28) The guarantee fund is intended to provide a liquidity cushion for the Union budget against losses incurred by the EFSI in pursuit of its objectives. Experience on the nature of investments to be supported by the EFSI indicates that a ratio of 530% between the payments from the Union budget and from the Union's total guarantee obligations would be adequate.
Amendment 470 #
Proposal for a regulation
Recital 29
Recital 29
(29) Tohe partially finance contribution of the contribution from the Union budget, the available envelopes of the Horizon 2020 – the Framework Programme for Research and Innovation 2014-2020, provided by Regulation (EU) No 1291/2013 of the European Parliament and of the Council2, and the Connecting Europe Facility, provided by Regulation (EU) No 1316/2013 of the European Parliament and of the Council3, should be reduced. Those programmes serve purposes that are not replicated by the EFSI. However, the reduction of both programmes to finance the guarantee fund is expected to ensure a greater investment in certain areas of their respective mandates than is possible through the existing programmes. The EFSI should be able to leverage the EU guarantee to multiply the financial effect within those areas of research, development and innovation and transport, telecommunications and energy infrastructure compared to if the resources had been spent via grants within the plann shall be established progressively by the co- legislators within the annual budget procedures up to 2020. In this regard, the budget authority shall make appropriate use of all flexibility mechanisms and other provisions provided Hforizon 2020 and Connecting Europe Facility programmes. It is, therefore, appropriate to redirect part of the funding presently envisaged for those programmes to the benefit of EFSI in Regulation (EU, Euratom) No 1311/2013. __________________ 3 Regulation (EU) No 1316/2013 of the European Parliament and of the Council of 11 December 2013 establishing the Connecting Europe Facility, amending Regulation (EU) No 913/2010 and repealing Regulations (EC) No 680/2007 and (EC) No 67/2010 (OJ L 348, 20.12.2013, p. 129).
Amendment 505 #
Proposal for a regulation
Recital 33
Recital 33
(33) Although the projects identified under the project pipeline may be used by the EIB and the Investment Committee in the identification and selection of EFSI supported projects, the project pipeline should have a broader scope of identifying projects across the Union. This scope may include projects that are capable of being fully financed by the private sector or with the assistance of other instruments provided at European or national level. The EFSI should be able to support financing and investment to projects identified by the project pipeline, but there should be no automaticity between inclusion on the list and access to EFSI support and the EFSI be conferred with discretion to select and support projects that are not included on the list.
Amendment 516 #
Proposal for a regulation
Recital 34
Recital 34
(34) To ensure accountability to European citizens, the EIB and the Investment Committee should regularly report to the European Parliament and the Council on the progress and impact of the EFSI.
Amendment 528 #
Proposal for a regulation
Recital 36
Recital 36
(36) Since the objectives of this Regulation, namely to support investments in the Union and to ensure increased access to financing for companies having up to 3000 employees as well as small and medium-sized enterprises, cannot be sufficiently achieved by the Member States by reason of the disparities in their fiscal capacity to act but can rather, by reason of its scale and effects, be better achieved at Union level, the Union may adopt measures, in accordance with the principle of subsidiarity as set out in Article 5 of the Treaty on European Union. In accordance with the principle of proportionality, as set out in that Article, this Regulation does not go beyond what is necessary in order to achieve those objectives,
Amendment 540 #
Proposal for a regulation
Article 1 – paragraph 1 – subparagraph 1
Article 1 – paragraph 1 – subparagraph 1
The Commission shall conclude an agreement with the European Investment Bank (EIB) on the establishment of a European Fund for Strategic Investments ('EFSI') in accordance with the requirements of this Regulation.
Amendment 554 #
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 proposing projects meeting the general objectives of the Union referred to in Article 5(2) of this Regulation, through the supply of risk bearing capacity to the EIB ('EFSI Agreement').
Amendment 556 #
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, particularly in the social and solidarity economy, through the supply of risk bearing capacity to the EIB and national and local investment banks ('EFSI Agreement').
Amendment 577 #
Proposal for a regulation
Article 1 – paragraph 1 – subparagraph 2 – point 1 (new)
Article 1 – paragraph 1 – subparagraph 2 – point 1 (new)
Amendment 585 #
Proposal for a regulation
Article 1 – paragraph 2
Article 1 – paragraph 2
2. The EFSI Agreement shall be open to accession by Member States. Subject to the consent of existing contributors, the EFSI Agreement shall also be open to accession by other third parties, including national and regional promotional banks or public agencies owned or controlled by Member States, and private sector entities.
Amendment 709 #
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, the Commission, national and regional promotional banks and the managing authorities of the European Structural and Investment Funds.
Amendment 728 #
Proposal for a regulation
Article 2 – paragraph 3
Article 2 – paragraph 3
3. Member States that become parties to the EFSI Agreement shall be able to provide their contribution, in particular, in the form of cash or a guarantee acceptable to the EIB. Other third parties shall be able to provide their contribution only in cash. National financial contributions, including any contributions to investment platforms, shall not be taken into account by the Commission when defining the fiscal adjustment under the preventive and corrective arms of the Stability and Growth Pact.
Amendment 850 #
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; they shall have a background in civil society, with particular attention to representation at local and regional decision-making levels; two of them shall be specialists in the field of infrastructure and social innovation projects. These experts shall be appointed by the Steering Board for a renewable fixed term of three years.
Amendment 910 #
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 by the EIB and by national and local investment banks in accordance with Article 7(2). The operations concerned shall be consistent with Union policies and support any of the following general objectives:
Amendment 931 #
Proposal for a regulation
Article 5 – paragraph 2 – subparagraph 1 – point a
Article 5 – paragraph 2 – subparagraph 1 – point a
(a) development of infrastructure, including in the areas of transport, particularly in industrial centres; energy, in particular energy interconnections;, intelligent networks and digital infrastructure;
Amendment 958 #
Proposal for a regulation
Article 5 – paragraph 2 – subparagraph 1 – point b
Article 5 – paragraph 2 – subparagraph 1 – point b
(b) investment in social infrastructure in accordance with a ratio that shall be reassessed every year in terms of needs such as education and training, health, research and development, information and communications technology and innovation;
Amendment 1005 #
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) implementation of the objectives of services of general economic interest, particularly a high level of quality, safety, affordability, equality of treatment, promotion of universal access and users’ rights.
Amendment 1011 #
Proposal for a regulation
Article 5 – paragraph 2 – subparagraph 1 a (new)
Article 5 – paragraph 2 – subparagraph 1 a (new)
The operations concerned shall in no circumstances lead towards privatisation of public policy areas.
Amendment 1017 #
Proposal for a regulation
Article 5 – paragraph 2 – subparagraph 2
Article 5 – paragraph 2 – subparagraph 2
In addition, the EU guarantee shall be granted for support of dedicated investment platforms and national and local promotional banks, via the EIB, that invest in operations meeting the requirements of this Regulation. In that case, the Steering Board shall specify policies regarding eligible investment platforms.
Amendment 1059 #
Proposal for a regulation
Article 5 – paragraph 3 – subparagraph 1
Article 5 – paragraph 3 – subparagraph 1
In accordance with Article 17 of the Statute of the European Investment Bank, the EIB or the national and regional investment banks shall charge the beneficiaries of the financing operations to cover its expenses related to the EFSI. Without prejudice to sub-paragraph 2 and 3, no administrative expenditure or any other fees of the EIB for financing and investment activities conducted by the EIB under this Regulation shall be covered from the Union budget.
Amendment 1082 #
Proposal for a regulation
Article 6 – paragraph 2 – point a
Article 6 – paragraph 2 – point a
(a) EIB loans, guarantees, counter- guarantees, capital market instruments, microfinance, any other form of funding or credit enhancement instrument, equity or quasi- equity participations. These Instruments shall be granted, acquired or issued for the benefit of operations carried out in the Union, including cross-border operations between a Member State and a third country, in compliance with this Regulation and where EIB financing has been granted in accordance with a signed agreement which has neither expired nor been cancelled;
Amendment 1114 #
Proposal for a regulation
Article 7 – paragraph 4
Article 7 – paragraph 4
4. Where the Union makes any payment under the EU guarantee, the EIB or the national and regional investment banks shall pursue the recovery of claims for the amounts paid and reimburse the Union from the sums recovered.
Amendment 1118 #
Proposal for a regulation
Article 8 – paragraph 1
Article 8 – paragraph 1
1. An EU guarantee fund (‘guarantee fund’) shall be established from which the EIB or the national and regional investment banks may be paid in the event of a call on the EU guarantee.
Amendment 1121 #
Proposal for a regulation
Article 8 – paragraph 2 – point a
Article 8 – paragraph 2 – point a
(a) paymentcontributions from the general budget of the Union,
Amendment 1129 #
Proposal for a regulation
Article 8 – paragraph 2 – point d
Article 8 – paragraph 2 – point d
(d) any other paymentcontributions received by the Union in accordance with the EFSI Agreement.
Amendment 1140 #
Proposal for a regulation
Article 8 – paragraph 5 – subparagraph 1
Article 8 – paragraph 5 – subparagraph 1
Amendment 1173 #
Proposal for a regulation
Article 8 – paragraph 8
Article 8 – paragraph 8
8. From 1 January 2019, if as a result of calls on the guarantee, the level of the guarantee fund falls below 530% of the target amount, the Commission shall submit a report on exceptional measures that may be required to replenish it.
Amendment 1193 #
Proposal for a regulation
Article 9 – paragraph 1
Article 9 – paragraph 1
1. The Commission and the EIB, with support from the Member States, shall promote the creation of a transparent pipeline of current and potential future investment projects in the Union, providing information about the projects’ economic viability, their compliance with social and environmental requirements and how they square with regional development strategy objectives. The pipeline is without prejudice to the final projects selected for support according to Article 3(5).
Amendment 1204 #
Proposal for a regulation
Article 9 – paragraph 2
Article 9 – paragraph 2
2. The Commission and the EIB, the EIB and the Investment Committee shall develop, update and disseminate, on a regular and structured basis, information on current and future investments which significantly contribute to achieving EU policy objectives.
Amendment 1210 #
Proposal for a regulation
Article 9 – paragraph 3
Article 9 – paragraph 3
3. Member States, in cooperation with local and regional authorities, shall develop, update and disseminate, on a regular and structured basis, information on current and future investment projects in their territory.
Amendment 1211 #
Proposal for a regulation
Article 9 – paragraph 3
Article 9 – paragraph 3
3. Member States shall develop, update and disseminate to the European Parliament and the Council, on a regular and structured basis, information on current and future investment projects in their territory.
Amendment 1218 #
Proposal for a regulation
Article 10 – paragraph 1
Article 10 – paragraph 1
1. The EIB and its institutional partners, in cooperation with the EIF as appropriate, shall report semi-annually to the Commission on EIB financing and investment operations under this Regulation. The report shall include an assessment of compliance with the requirements on the use of the EU guarantee and the key performance indicators established pursuant to Article 2(1)(g). The report shal l also include statistical, financial and accounting data on each EIB financing and investment operation and on an aggregated basis.
Amendment 1226 #
Proposal for a regulation
Article 10 – paragraph 2 – introductory part
Article 10 – paragraph 2 – introductory part
2. The EIB, in cooperation with the EIF as appropriate, shall report biannually to the European Parliament and to the Council on EIB financing and investment operations. The report shall be made public and include:
Amendment 1232 #
Proposal for a regulation
Article 10 – paragraph 2 – point b
Article 10 – paragraph 2 – point b
(b) an assessment, on an aggregated basis, of the added value, the mobilisation of private sector resources, the estimated and actual outputs, particularly in terms of job creation, outcomes and impact of EIB financing and investment operations at an aggregated basis;
Amendment 1272 #
Proposal for a regulation
Article 10 – paragraph 4
Article 10 – paragraph 4
4. The EIB, in agreement with the Investment Committee, shall provide to the Commission upon request any additional information necessary to fulfil the Commission's obligations in relation to this Regulation.
Amendment 1282 #
Proposal for a regulation
Article 11 – paragraph 1
Article 11 – paragraph 1
1. At the request of the European Parliament, the Managing Director and the Investment Committee shall participate in a hearing of the European Parliament on the performance of the EFSI.
Amendment 1289 #
Proposal for a regulation
Article 11 – paragraph 2
Article 11 – paragraph 2
2. The Managing Director and the Investment Committee shall reply orally or in writing to questions addressed to the EFSI by the European Parliament, in any event within five weeks of receipt of a question.
Amendment 1320 #
Proposal for a regulation
Article 12 – paragraph 3
Article 12 – paragraph 3
3. The EIB and the Investment Committee, in cooperation with the EIF as appropriate, shall contribute to and provide the necessary information for the Commission evaluation and report under paragraph 1 and 2 respectively.
Amendment 1322 #
Proposal for a regulation
Article 12 – paragraph 4
Article 12 – paragraph 4
4. The EIB and, in agreement with the Investment Committee, and the 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.
Amendment 1389 #
Proposal for a regulation
Article 17 a (new)
Article 17 a (new)
Amendment 1390 #
Proposal for a regulation
Article 18
Article 18
Regulation (EU) No 1316/2013
Article 5 paragraph 1
Article 5 paragraph 1