Activities of Eduard KUKAN related to 2016/0281(COD)
Plenary speeches (3)
European Fund for Sustainable Development (EFSD) and establishing the EFSD Guarantee and the EFSD Guarantee Fund (debate)
European Fund for Sustainable Development (EFSD) and establishing the EFSD Guarantee and the EFSD Guarantee Fund (debate)
European Fund for Sustainable Development (EFSD) and establishing the EFSD Guarantee and the EFSD Guarantee Fund (debate) SK
Reports (1)
REPORT on the proposal for a regulation of the European Parliament and of the Council on the European Fund for Sustainable Development (EFSD) and establishing the EFSD Guarantee and the EFSD Guarantee Fund PDF (1006 KB) DOC (137 KB)
Amendments (32)
Amendment 75 #
Proposal for a regulation
Recital 1
Recital 1
(1) The Union's ambitious External Investment Plan (EIP) is needed to support investments starting in Africa and the Union's Neighbourhood as a means to promote the sustainable development goals of the United Nations 2030 Agenda for Sustainable Development ('the 2030 Agenda'), in particular poverty eradication, as well as the commitments under the recently revised European Neighbourhood Policy thus addressing root causes of migrationand the New Partnership Framework with Third Countries under the European Agenda on Migration thus addressing root causes of migration and migratory pressures stemming from poverty, underdevelopment, inequality, demographic growth, lack of employment and economic opportunities as well as climate change. It should also contribute to the implementation of the Paris Agreement on Climate Change (COP 21).
Amendment 108 #
Proposal for a regulation
Recital 4 a (new)
Recital 4 a (new)
(4a) Involvement of the private sector in the Union's cooperation with partner countries through the EFSD should yield additional development impact, without distorting the market and should be cost- effective, based on mutual accountability, risk and costs sharing; and build on a commitment to internationally agreed guidelines and principles, including the Principles for Responsible Investment and UN's Guiding Principles on Business and Human Rights and the Organisation for Economic Cooperation and Development's (OECD) Guidelines for Multinational Enterprises.
Amendment 114 #
Proposal for a regulation
Recital 4 a (new)
Recital 4 a (new)
(4a) Actions under the EFSD Regulation should be designed, so as to fulfil the criteria for development finance established by the Development Assistance Committee (DAC) of the OECD taking into account the specificities of private sector development.
Amendment 117 #
Proposal for a regulation
Recital 4 c (new)
Recital 4 c (new)
(4c) Technical assistance to partner countries should constitute the second pillar of the EIP. In this context, the Commission should step up assistance in order to help partner countries to attract investment by better preparing and promoting projects, developing a higher number of bankable projects and making them known to the international investor community. A project web-portal should be established, which shall constitute a publicly accessible and user-friendly project database, providing relevant information for each project.
Amendment 118 #
Proposal for a regulation
Recital 4 c (new)
Recital 4 c (new)
(4c) Improving the investment climate and overall policy environment in partner countries should constitute the third pillar of the EIP. In the context of the Union's existing political relations with partner countries, the Commission and the High Representative of the Union for Foreign Affairs and Security Policy (High Representative) should maintain policy dialogues aimed at developing legal frameworks, policies and institutions that promote economic stability, sustainable investment and inclusive growth. These policy dialogues should cover, among other issues, the fight against corruption and organised crime and illicit financial flows, good governance, the inclusion of local markets, the boosting of entrepreneurship as well as local business settings, the respect for human rights and the rule of law as well as gender- responsive policies.
Amendment 129 #
Proposal for a regulation
Recital 7 a (new)
Recital 7 a (new)
(7a) The Commission and EIB should conclude an agreement specifying the conditions of their cooperation in the management of the EFSD guarantee and should present the agreement to the strategic board.
Amendment 137 #
Proposal for a regulation
Recital 8 a (new)
Recital 8 a (new)
(8a) The EFSD should address bottlenecks to private investment and deploy innovative instruments to facilitate access to finance from domestic and foreign investors, in particular for local and European companies as well as for micro, small, and medium-sized enterprises.
Amendment 149 #
Proposal for a regulation
Recital 14
Recital 14
(14) In order to increase the impact of the EFSD Guarantee in view of the needs in the regions concerned, Member States and EFTA countries should have the possibility of providing contributions in the form of a guarantee or cash. Those contributions could be earmarked by countries, region, sector or investment window.
Amendment 150 #
Proposal for a regulation
Recital 14
Recital 14
(14) In order to increase the impact of the EFSD Guarantee in view of the needs in the regions concerned, Member States should have the possibility of providing contributions in the form of a guarantee or cash. Those contributions could be earmarked by region, country, sector or investment window.
Amendment 153 #
Proposal for a regulation
Recital 15 a (new)
Recital 15 a (new)
(15a) As the funds of the European Neighbourhood Instrument, established by Regulation (EU) No 232/2014 of the European Parliament and of the Council1a, are to be used, a minimum of EUR 200 000 000 of EFSD Guarantee coverage should be allocated for investments in Neighbourhood partner countries throughout the implementation period of the EFSD Guarantee. __________________ 1aRegulation (EU) No 232/2014 of the European Parliament and of the Council of 11 March 2014 establishing a European Neighbourhood Instrument (OJ L 77, 15.3.2014, p. 27).
Amendment 171 #
Proposal for a regulation
Recital 19 a (new)
Recital 19 a (new)
(19a) In order to reflect political developments and needs for Union action in the world, the power to adopt acts in accordance with Article 290 of the Treaty on the Functioning of the European Union should be delegated to the Commission in respect of amendments to the Annex of this Regulation listing the regions eligible for support through EFSD Guarantee. It is of particular importance that the Commission carry out appropriate consultations during its preparatory work, including at expert level, and that those consultations be conducted in accordance with the principles laid down in the Interinstitutional Agreement of 13 April 2016 on Better Law-Making 1a. In particular, to ensure equal participation in the preparation of delegated acts, the European Parliament and the Council receive all documents at the same time as Member States' experts, and their experts systematically have access to meetings of Commission expert groups dealing with the preparation of delegated acts. __________________ 1a OJ L 123, 12.5.2016, p. 1
Amendment 210 #
Proposal for a regulation
Article 5 – paragraph 1 a (new)
Article 5 – paragraph 1 a (new)
1a. The strategic board shall lay down its rules of procedure during the first meeting, which will include details on the number of meetings to be held by year, voting rights of board members and progress reports to be issued by the Commission.
Amendment 213 #
Proposal for a regulation
Article 5 – paragraph 2
Article 5 – paragraph 2
2. The strategic board shall be composed of representatives of the Commission and of the High Representative of the Union for Foreign Affairs and Security Policy (High Representative), of the contributing Member States and of the EIB. The Commission may invite other contributors to become members of the strategic board having regard where appropriate to the view of the board. Partner CThe European Parliament shall have observer status. Observers designated by Parliament shall have the right to contribute to the deliberations without the right to vote. Partner countries and relevant regional organisations, and the eligible counterparts and the European Parliament may be given observer status, where appropriate. The strategic board shall be co-chaired by the Commission and the High Representative.
Amendment 222 #
Proposal for a regulation
Article 5 a (new)
Article 5 a (new)
Article 5a Regional operational boards 1. Each regional investment platform shall have an operational board. 2. Those operational boards shall support the Commission in defining regional and sectoral investment goals and regional, sectoral and thematic investment windows and shall formulate opinions on blending operations and on the use of the EFSD Guarantee. They shall, in particular, provide guidance on future financing proposals, monitor and review the pipeline of projects, examine project-related results and monitor the portfolio of approved projects. 3. The operational boards shall be chaired by the Commission and be composed of representatives of the Commission, of the High Representative and of the Member States as voting members, and, when appropriate, of the eligible counterparts as observers. The European Parliament shall be granted observer status. 4. The Commission and the High Representative of the Union for Foreign Affairs and Security (High Representative) shall ensure the intensive involvement of the European Union Delegations and of the eligible counterparts in preparing the work of the operational boards.
Amendment 228 #
Proposal for a regulation
Article 6 – paragraph 1 a (new)
Article 6 – paragraph 1 a (new)
1a. The EFSD Guarantee shall support financing and investment operations in partner countries in the regions included in the Annex to this Regulation. The Commission shall be empowered to adopt delegated acts in accordance with Article 20a concerning amendments to the Annex.
Amendment 233 #
Proposal for a regulation
Article 8 – paragraph 1 – introductory part
Article 8 – paragraph 1 – introductory part
1. The financing and investment operations eligible for support through the EFSD Guarantee shall be in line with the purpose of the EFSD as described in Article 3. They shall be consistent and aligned with Union policies, in particular development and neighbourhood policies of the Union, as well as the partner countries' strategies and policies. Operations shall take into account other EU and international support to ensure complementarity with other initiatives and aim at supporting the following general objectives:
Amendment 257 #
Proposal for a regulation
Article 8 – paragraph 1 – point c
Article 8 – paragraph 1 – point c
(c) provide finance in favourial support to private sector development with a particular focus ofn micro- , small- and medium-sized enterprises, with a particular focus on private sector developmenthile addressing market failures and limiting market distortions;
Amendment 261 #
Proposal for a regulation
Article 8 – paragraph 1 – point c
Article 8 – paragraph 1 – point c
(c) provide finance in favour of micro-, small- and medium-sized enterprises with a particular focus on private sector developmentsupport private sector development, with a particular focus on local and European companies as well as micro, small and medium-sized enterprises;
Amendment 268 #
Proposal for a regulation
Article 8 – paragraph 1 – point d
Article 8 – paragraph 1 – point d
(d) provide financial instruments, including in local currency, aimed at addressing the bottlenecks to private investments, including first loss guarantees to portfolios guarantees to private sector projects such as loan guarantees for small and medium-sized enterprises and guarantees for specific risks for infrastructure projects and other risk capital;
Amendment 270 #
Proposal for a regulation
Article 8 – paragraph 1 – point e
Article 8 – paragraph 1 – point e
(e) maximise private sector leverage, with a particular focus on micro-, small and medium-sized enterprises by addressing bottlenecks to investment.
Amendment 300 #
Proposal for a regulation
Article 8 – paragraph 4
Article 8 – paragraph 4
4. TAfter consultation with the strategic board, the Commission mayshall define investment windows for specific regions or partner countries or for both, for specific sectors, for specific projects or for specific categories of final beneficiaries or for both to be funded by instruments referred to in Article 9 to be covered by the EFSD Guarantee up to a fixed amount. All requests for financial support within investment windows shall be made to the Commission.
Amendment 304 #
Proposal for a regulation
Article 9 – paragraph 1 – point a
Article 9 – paragraph 1 – point a
(a) loans, including local currency loans;
Amendment 317 #
Proposal for a regulation
Article 11 – paragraph 2 – subparagraph 1
Article 11 – paragraph 2 – subparagraph 1
Member States and EFTA countries may contribute to the EFSD Guarantee Fund in the form of guarantees or cash. Subject to Commission approval, other contributors may contribute, in the form of cash.
Amendment 323 #
Proposal for a regulation
Article 11 – paragraph 5 a (new)
Article 11 – paragraph 5 a (new)
5a. At least EUR 200 000 000 of EFSD Guarantee coverage shall be allocated for investments in the partner countries from the Eastern and Southern Neighbourhood, in accordance with Regulation (EU) No 232/2014.
Amendment 330 #
Proposal for a regulation
Article 12 – paragraph 4 – point c
Article 12 – paragraph 4 – point c
(c) the amount of own resources as well as private sector co-financing that the counterpart is ready to mobilise for the investment window.
Amendment 338 #
Proposal for a regulation
Article 13 – paragraph 2 – point b
Article 13 – paragraph 2 – point b
(b) possible contributions from Member States, EFTA-countries and other contributors;
Amendment 352 #
Proposal for a regulation
Article 15 – paragraph 1 – point b
Article 15 – paragraph 1 – point b
(b) an assessment of the additionality and added value, the mobilisation of private sector resources, the estimated and actual outputs and the outcomes and impact of the financing and investment operations covered by the EFSD Guarantee on an aggregated basis, including the impact on employment creationdecent job creation, climate change, the eradication of poverty and on the way in which the root causes of migration are addressed;
Amendment 354 #
Proposal for a regulation
Article 15 – paragraph 1 – point f
Article 15 – paragraph 1 – point f
(f) an assessment of the additionality and added value of financing and investment operations of the eligible counterparts, and of the aggregate risk associated with those operations;
Amendment 356 #
Proposal for a regulation
Article 15 – paragraph 1 – point h a (new)
Article 15 – paragraph 1 – point h a (new)
(ha) an assessment of the actions developed under the second and third pillar of the EIP and the synergies between them and the operations covered by the EFSD Guarantee, with particular regard to progress made in the fight against corruption and organised crime and illicit financial flows, good governance, the inclusion of local markets, the boosting of entrepreneurship as well as local business settings, respect for human rights and the rule of law as well as gender-responsive policies.
Amendment 362 #
Proposal for a regulation
Article 16 – paragraph 1
Article 16 – paragraph 1
1. By 31 December 202019, the Commission shall evaluate the functioning of the EFSD and its effective contribution to the purpose and objectives of this Regulation. The Commission shall submit its evaluation report to the European Parliament and the Council, containing an independentexternal evaluation of the application of this Regulation. This report shall be submitted without delay by the Commission in the event that , accompanied by a reasoned proposal with a view to reviewing or amending this Regulation, as appropriate, in particular withe approved financing and view to extending the initial investment operations absorb in full the amount of the EFSD Guarantee available before 30 June 2020iod referred to in Article 7(2).
Amendment 371 #
Proposal for a regulation
Article 17 – paragraph 1
Article 17 – paragraph 1
In accordance with its transparency policies and general Union principUnion rules on access to documents and information and data protection, the eligible counterparts shall proactively and systematically make publicly available on their websites information relating to all financing and investment operations covered by the EFSD Guarantee under this Regulation, relating in particular to the manner in which those operations contribute to the objectives and requirements of this Regulation.
Amendment 385 #
Proposal for a regulation
Article 20 a (new)
Article 20 a (new)
Article 20a Exercise of the delegation 1. The power to adopt delegated acts is conferred on the Commission subject to the conditions laid down in this Article. 2. The power to adopt delegated acts referred to in Article 6 shall be conferred on the Commission from the date of entry into force of this Regulation until 31 December 2020. 3. The delegation of power referred to in Article 6 may be revoked at any time by the European Parliament or by the Council. A decision to revoke shall put an end to the delegation of the power specified in that decision. It shall take effect the day following the publication of the decision in the Official Journal of the European Union or at a later date specified therein. It shall not affect the validity of any delegated acts already in force. 4. Before adopting a delegated act, the Commission shall consult experts designated by each Member State in accordance with the principles laid down in the Interinstitutional Agreement of 13 April 2016 on Better Law-Making. 5. As soon as it adopts a delegated act, the Commission shall notify it simultaneously to the European Parliament and to the Council. 6. A delegated act adopted pursuant to Article 6 shall enter into force only if no objection has been expressed either by the European Parliament or the Council within a period of two months of notification of that act to the European Parliament and the Council or if, before the expiry of that period, the European Parliament and the Council have both informed the Commission that they will not object. That period shall be extended by two months at the initiative of the European Parliament or of the Council.