Activities of Rolandas PAKSAS related to 2011/0301(COD)
Plenary speeches (5)
Explanations of vote
Explanations of vote
Explanations of vote
Explanations of vote
Explanations of vote
Amendments (7)
Amendment 19 #
Proposal for a regulation
Recital 8
Recital 8
(8) It will be the first financial instrument benefiting infrastructure projects with similar financing needs across several sectors and will as such produce higher benefits in terms of impact on the Union budget, market impact, administrative efficiency and resource utilisation. It will provide a coherent instrument to infrastructure stakeholders such as financiers, public authorities, construction companies and operators.
Amendment 20 #
Proposal for a regulation
Recital 9
Recital 9
(9) With the Europe 2020 Project Bond Initiative, bonds would be issued by project companies, the Union budget together with financing from a financial partner would be used to improve the credit quality of the bonds in order to attract debt capital market investors such as pension funds and, insurance companies and sovereign wealth funds, in search of safe long-term investment options.
Amendment 21 #
Proposal for a regulation
Recital 6
Recital 6
(6) The Council of 12 July 2011 recalled that financial instruments need to be assessed in terms of leverage effects in comparison to existing instruments, risks that would be added to government balance sheets and possible crowding out of private institutions. The Commission Communication on a pilot for the Europe 2020 Project Bond Initiative and its impact assessment, which draw on a public consultation, contributes to addressing the aforementioned issues. It is also necessary to ensure that the measure proposed is compatible with political decisions and social agreements designed to achieve sustainable economic, environmental and social objectives.
Amendment 22 #
Proposal for a regulation
Recital 8
Recital 8
(8) It will be the first financial instrument benefiting infrastructure projects with similar financing needs across several sectors and will as such produce higher benefits in terms of market impact, administrative efficiency and resource utilisation. It will provide a coherent instrument to infrastructure stakeholders such as financiers, public authorities, construction companies and operatornot only institutional investors but also infrastructure stakeholders with fewer funds in reserve, such as financiers, public authorities, construction companies and operators. This financial measure should also protect users from excessive costs, particularly in the absence of any other infrastructures.
Amendment 37 #
Proposal for a regulation
Recital 18 a (new)
Recital 18 a (new)
(18a) Debt criteria for public-private partnership projects should be the same as for traditional projects launched under public procurement procedures, so as to ensure the necessary budget transparency, avoid additional budgetary risks and ensure that the relevant authorities are able to choose freely between public- private partnership projects and traditionally funded projects.
Amendment 44 #
Proposal for a regulation
Article 1 – point 2 – point b
Article 1 – point 2 – point b
Decision No 1639/2006/EC
Article 31 – paragraph 2 b
Article 31 – paragraph 2 b
2b. The Union exposure to the risk sharing instrument, including management fees and other eligible costs, shall be strictly limited to the amount of the Union contribution to the risk-sharing instrument for project bonds and there shall be no further liability on the general budget of the Union. The residual risk inherent in all operations shall be borne by the EIB, after it has performed a risk analysis.
Amendment 51 #
Proposal for a regulation
Article 2 – point 3 – point b
Article 2 – point 3 – point b
Regulation (EC) No 680/2007
Article 6 – paragraph 1 – point g
Article 6 – paragraph 1 – point g
(g) a financial contribution to the EIB to the provisioning and capital allocation for loans or guarantees to be issued by the EIB on its own resources under the risk-sharing instrument for project bonds in the field of TEN-T and TEN-E. The Union exposure to the risk sharing instrument, including management fees and other eligible costs, shall be strictly limited to the amount of the Union contribution to the risk-sharing instrument for project bonds and there shall be no further liability on the general budget of the Union. The residual risk inherent in all operations shall be borne by the EIB, after it has performed a risk analysis. The detailed terms and conditions for implementing the risk-sharing instrument for project bonds, including its monitoring and control, shall be laid down in a delegation agreement between the Commission and the EIB. In 2012 and 2013, an amount of up to EUR 210 million, of which up to EUR 200 million for transport projects and up to EUR 10 million for energy projects, may be redeployed for the risk-sharing instrument for project bonds in accordance with the procedure referred to in Article 15(2) from the TEN-T (LGTT) and TEN-E budget lines, respectively. The risk-sharing instrument for project bonds may reuse any revenues received within the investment period for new loans and guarantees.