75 Amendments of Bas EICKHOUT related to 2016/0276(COD)
Amendment 29 #
(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, the 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 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, Member States should also contribute as a matter of priority.
Amendment 31 #
Proposal for a regulation
Recital 6 a (new)
Recital 6 a (new)
(6a) On 11 November 2016, the European Court of Auditors concluded that it was still too soon for the economic, social and environmental impacts to be measured or for a conclusion to be drawn as to whether EFSI was achieving its objectives. A comprehensive impact assessment shall provide for the necessary evidence whether or not the EFSI should be extended.
Amendment 38 #
Proposal for a regulation
Recital 8
Recital 8
(8) The extended EFSI should address remaining market failures and sub-optimal investment situations and continue to mobilise 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 oneexcept for cross-border sections as defined in Article 2 (2) of the regulation 1316/2013 between cohesion countryies. 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.
Amendment 57 #
Proposal for a regulation
Recital -1 (new)
Recital -1 (new)
(-1) The primary aim of EFSI should be to support otherwise unfundable projects that provide European citizen with long-term environmental and societal benefits such as high quality long-term jobs and public infrastructure. It is therefore much more important to identify and support projects that provide this genuine additionality and quality rather than being driven by technical aspects such as leverage factors or project speed and volumes.
Amendment 60 #
Proposal for a regulation
Recital 18
Recital 18
(18) With a view to enhancing the transparency of EFSI operations, the Investment Committee should explain in its decisions, which are made public and accessible, the reasons why it deems that an operation should be granted the EU guarantee, with particular focus on compliance with the additionality criterion. The scoreboard of indicators should be made public once an operation under the EU guarantee is signed. approved. The Investment Committee should provide the scoreboard of indicators of the operations rejected to the Parliament with the exclusion of commercially sensitive information.
Amendment 65 #
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 arrangements. 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. transparency, participation, accessibility of information?
Amendment 69 #
Proposal for a regulation
Article 1 – paragraph 1 – point 2
Article 1 – paragraph 1 – point 2
Regulation (EU) 2015/1017
Article 5 – paragraph 1 – subparagraph 3
Article 5 – paragraph 1 – subparagraph 3
'To better address market failures or sub- optimal investment situations, EIB special activities supported by the EFSI shall typically have features such as subordination, participation in risk- sharing instruments, cross-border characteristics, exposure to specific risks or other identifiable aspects as further described in Annex II.'
Amendment 70 #
Proposal for a regulation
Article 1 – paragraph 1 – point 2 Regulation (EU) 2015/1017
Article 1 – paragraph 1 – point 2 Regulation (EU) 2015/1017
Amendment 72 #
Proposal for a regulation
Article 1 – paragraph 1 – point 2
Article 1 – paragraph 1 – point 2
Regulation (EU) 2015/1017
Article 5 – paragraph 1 – subparagraph 5
Article 5 – paragraph 1 – subparagraph 5
The projects supported by the EFSI that consist of physical infrastructure linking two or more Member States or of the extension of physical infrastructure or services linked to physical infrastructure from one Member State to one or more Member States, need to be geared towards 2020 targets and shall also be considered to provide additionality when generating long term societal and environmental benefits; the Investment Committee shall ensure that additionality is verified in its selection procedure.;
Amendment 81 #
Proposal for a regulation
Article 1 – paragraph 1 – point 4 – point a – point ii
Article 1 – paragraph 1 – point 4 – point a – point ii
Regulation (EU) 2015/1017
Article 7 – paragraph 8 – point l
Article 7 – paragraph 8 – point l
Amendment 83 #
Proposal for a regulation
Article 1 – paragraph 1 – point 5 – point a
Article 1 – paragraph 1 – point 5 – point a
Regulation (EU) 2015/1017
Article 9 – paragraph 2 – point h
Article 9 – paragraph 2 – point h
Amendment 84 #
Proposal for a regulation
Recital 4
Recital 4
(4) The EFSI, implemented and co- sponsored by the EIB Group, is firmly on track to deliver the objective of mobilising at least EUR 315 billion in additional investments in the real economy by mid- 2018. The market absorption has been particularly quick under the SME Window where the EFSI is delivering well beyond expectations. In July 2016 the SME Window was thus scaled-up by EUR 500 million within the existing parameters of Regulation (EU) No 2015/1017. A larger share of financing to be geared towards SMEs given the exceptional market demand for SME financing under the EFSI: 40% of the increased risk bearing capacity of the EFSI should be geared towards increasing access to financing for SMEs. Regulation (EU) No 2015/1017 should be revised so as to enable the EFSI to focus its efforts on sustainable investments allowing the EU honouring its COP21 commitments. With this in mind, a larger share of financing is also to be geared towards climate relevant projects of SMEs.
Amendment 85 #
Proposal for a regulation
Article 1 – paragraph 1 – point 5 – point b
Article 1 – paragraph 1 – point 5 – point b
Regulation (EU) 2015/1017
Article 9 – paragraph 2 – subparagraph 1 a
Article 9 – paragraph 2 – subparagraph 1 a
'The EIB shall target that at least 450 % of EFSI financing under the infrastructure and innovation window that supports projects with components that contribute to climate action, in line with the COP21 commitments. The Steering Board shall provide detailed guidance to that end.;'
Amendment 89 #
Proposal for a regulation
Article 1 – paragraph 1 – point 5 – point b
Article 1 – paragraph 1 – point 5 – point b
Regulation (EU) 2015/1017
Article 9 – paragraph 2 – subparagraph 1 b (new)
Article 9 – paragraph 2 – subparagraph 1 b (new)
'The EIB shall target that at least 20% of the EFSI financing under the infrastructure and innovation window supports projects falling under point (c) related to sustainable, energy efficient, low-carbon transport and mobility projects.'
Amendment 91 #
Proposal for a regulation
Article 1 – paragraph 1 – point 5 – point b a (new)
Article 1 – paragraph 1 – point 5 – point b a (new)
Regulation (EU) 2015/1017
Article 9 – paragraph 2 – point c
Article 9 – paragraph 2 – point c
(ba) Article 9, paragraph 2 (c) introductory part is replaced by the following: '(c) development of transport infrastructures, and equipment and innovative technologies for transport, in particularcluding small scale projects, that are listed in the individual member states' Transport Master Plans, through:'
Amendment 93 #
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, the 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 should provide a total of at least half a trillion euro investments by 2020. In order to enhance the firepower of On 11 November 2016, the European Court of Auditors concluded that it was still too soon for the economic, social and environmental impacts to be measured or for a conclusion to be drawn as to whether EFSI even further and reach the aim of doubling the investment target, Member States should also contribute as a matter of prioritywas achieving its objectives. A comprehensive impact assessment should provide for the necessary evidence whether or not to extend EFSI.
Amendment 94 #
Proposal for a regulation
Article 1 – paragraph 1 – point 5 – point d
Article 1 – paragraph 1 – point 5 – point d
Regulation (EU) 2015/1017
Article 9 – paragraph 4
Article 9 – paragraph 4
Amendment 103 #
Proposal for a regulation
Article 1 – paragraph 1 – point 13
Article 1 – paragraph 1 – point 13
Regulation (EU) 2015/1017
Article 23 – paragraph 2
Article 23 – paragraph 2
'The power to adopt delegated acts referred to in Article 7(13) and (14) shall be conferred on the Commission for a period of five years from 4 July 2015. The Commission shall draw up a report in respect of the delegation of power not later than nine months before the end of the five-year period.; the Commission shall propose a revision of delegated regulation 2015/1558 within one month after this regulation is published in the Official Journal of the European Union. The Scoreboard of indicators shall be used by the Investment Committee to ensure an independent and transparent assessment of the potential and actual use of the EU guarantee, and to prioritise the use of the EU guarantee for operations that display higher scores and added value. In its proposal, the Commission shall give employment and sustainability more weight and the scores on the different pillars shall be aggregated into an overall single rating.'
Amendment 106 #
Proposal for a regulation
Annex – point 1 – point a
Annex – point 1 – point a
Regulation (EU) 2015/1017
Annex II – section 2 – point b – subparagraph 1 a
Annex II – section 2 – point b – subparagraph 1 a
'EFSI support to motorways shall 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 except for cross-border sections as defined in Article 2 (2) of the regulation 1316/2013 between cohesion country.ies.';
Amendment 110 #
Proposal for a regulation
Annex – point 1 – point a
Annex – point 1 – point a
Regulation (EU) 2015/1017
Annex II – section 2 – point b – subparagraph 1 b (new)
Annex II – section 2 – point b – subparagraph 1 b (new)
'EFSI support to airport infrastructure shall be avoided;'
Amendment 111 #
Proposal for a regulation
Recital 8
Recital 8
(8) The extended EFSI should address remaining market failures and sub-optimal investment situations and continue to mobilise 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. Energlectricity 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 clariexcept for cross-border sections as defined in transport in Article 2 (2) of regulation 1316/2013 between cohesion countries. It should be explicitly laid down that projects in the fields of agriculture, fishery and aquaculture are not eligible for EFSI support. EFSI support for fossil fuel projects, especially infrastructure and nuclear installations should be avoided. Given the very high rates of poverty, although they are already eligible, it should be explicitly laid down that projects in the fields of agriculture, fishery and aquaculturend social exclusion in Europe, the operations supported by the EFSI to tackling this issue should be reinforced. Further given the significant need for investment into social infrastructure, projects in the fields of social services, healthcare services, education and social housing come within the general objectives eligible for EFSI support.
Amendment 111 #
Proposal for a regulation
Annex – point 3
Annex – point 3
Regulation (EU) 2015/1017
Annex II – section 5
Annex II – section 5
'The scoreboard shall be made public as soon as an operation under the EU guarantee is signed approved, with the exclusion of commercially sensitive information.; the Investment Committee shall provide the Parliament with the scoreboard of indicators of rejected operations with the exclusion of commercially sensitive information as well as an overview of the investment- weighted aggregate scores of approved projects;'
Amendment 130 #
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. Operations in infrastructure under the Infrastructure and Innovation Window linking two or more Member Stre strategic, generating long-term societal and environmental benefits in key areas of EU policy, and would not otherwise be funded. The Investment Committee should ensure that additionality is verified in its selection procedure. The EFSI should operates, in cluding e-infrastructure, should be considered additional given oser conjunction with the Structural Funds and otheir inherent difficulty and their high added value for the UnionEU cohesion policy funds. EFSI should not, however, in any way substitute the EU's cohesion policy.
Amendment 144 #
Proposal for a regulation
Recital 9 a (new)
Recital 9 a (new)
(9 a) The EFSI should neither contradict the achievements of the European Social Fund (ESF), the EU's cohesion policy, especially the achievements of the European Structural and Investment Funds (ESIF), nor contradict the goals of the Europe 2020 strategy.
Amendment 155 #
Proposal for a regulation
Recital 10 a (new)
Recital 10 a (new)
(10 a) With a view to contributing to the Union objective of economic, social, and territorial cohesion and reducing regional disparities, the geographic balance of EFSI support needs urgently be enhanced by providing for effective implementation of geographic diversification and by strengthening the role of the European Investment Advisory Hub (EIAH), including the creation of decentralised regional clusters of technical assistance.
Amendment 157 #
Proposal for a regulation
Recital 11
Recital 11
Amendment 195 #
Proposal for a regulation
Recital 16
Recital 16
(16) In line with the exceptional market demand for SME financing under the EFSI which is expected to continue, the EFSI SME Window should be enhanced. Particular attention should be paid to social enterprises and social services, including through the development and deployment of new instruments, adequate for the sector's needs and specificities.
Amendment 209 #
Proposal for a regulation
Recital 18
Recital 18
(18) With a view to enhancing the transparency of EFSI operations, the Investment Committee should explain in its decisions, which are made public and accessible, the reasons why it deems that an operation should be granted the EU guarantee, with particular focus on compliance with the additionality criterion. The scoreboard of indicators should be made public once an operation under the EU guarantee is signedapproved. The Investment Committee should provide the scoreboard of indicators of the operations rejected to the Parliament, with the exclusion of commercially sensitive information.
Amendment 217 #
Proposal for a regulation
Recital 19
Recital 19
(19) The operations supported by the EFSI should adhere to the Union's principles of tax good governance and its social acquis.
Amendment 223 #
Proposal for a regulation
Recital 21
Recital 21
(21) The European Investment Advisory Hub (EIAH) should be enhanced through increased accessibility and transparency, and its activities should focus on needs not covered adequately under current arrangements. It should pay particular attention to supporting the preparation of projects providing genuine additionality, involving two or more Member States and projects that contribute to achieving the objectives of COP21, and the Europe 2020 strategy, including tackling poverty and social exclusion. 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 projectsand eventually aggregating projects., for example in the area of energy efficiency. It should also actively contribute to the establishment of investment platforms, including sectorial ones and provide advice on the combination of other sources of Union funding with the EFSI, as well as informing about the respective eligibility criteria to be respected by these funds. An extension of guidance on how to create an investment platform, the different forms it can adopt, theoretical models of operation without any prejudice to keep the necessary flexibility would be appropriate.
Amendment 235 #
Proposal for a regulation
Recital 21 a (new)
Recital 21 a (new)
(21 a) The European Fund for Strategic Investments should be enhanced through the inclusion of a gender perspective as a successful process of recovery is not possible without addressing the impact of the crises on women1a. _________________ 1aEP INI on poverty: a gender perspective, 2015/2228(INI); EP INI on EU funds for gender equality 2016/2144(INI)
Amendment 254 #
Proposal for a regulation
Article 1 – paragraph -1 (new)
Article 1 – paragraph -1 (new)
Regulation (EU) No 2015/1017
Article 2 – point 8 a (new)
Article 2 – point 8 a (new)
(-1) in Article 2 the following point is added: ‘(8a) Strategic operation' means an investment project or program that has as its primary aim the realisation of infrastructure, physical capital, goods or services that contribute to social and environmental policy objectives of the European Union or to the UN 2030 Agenda for Sustainable Development;’;
Amendment 262 #
Proposal for a regulation
Article 1 – paragraph 1 – point 2
Article 1 – paragraph 1 – point 2
Regulation (EU) No 2015/1017
Article 5 – paragraph 1
Article 5 – paragraph 1
(2) in Article 5(1) the third subparagraph is replaced by the following: 'To better address market failures or sub- optimal investment situFor the purposes of this Regulations, EIB special activities'additionality' means the supported by the EFSI shall typically have features such as subordination, participation in risk- sharing instruments, cross-borderof strategic operations which address employment and output gaps and which could not have been characteristics, exposure to specific risks or other identifiable aspects as further described in Annex II. EIB projects carrying a risk lower than the minimum risk under EIB special activities may also be supported by the EFSI if the use of the EU guarantee is requiried out in the period during which the EU guarantee can be used, or not to the same extent, by the EIB, the EIF or under existing Union financial instruments without EFSI support. The Investment Committee shall ensured to ensurehat additionality ais deverifined in the first subparagraph of this paragraph. The projects supported by the EFSI that consist of physical infrastructure linking two or more Member States or of the extension of physical infrastructure or services linked to physical infrastructure from one Member State to one or more Member States, shall also be considered to provide additionalityselection procedure and that the reasons for the assessment that an operation meets the additionality criterion are fully documented as part of that procedure.';
Amendment 290 #
Proposal for a regulation
Article 1 – paragraph 1 – point 2 a (new)
Article 1 – paragraph 1 – point 2 a (new)
2015/1017
Article 5 – paragraph 2 – subparagraph 2
Article 5 – paragraph 2 – subparagraph 2
Amendment 297 #
Proposal for a regulation
Article 1 – paragraph 1 – point 3
Article 1 – paragraph 1 – point 3
Regulation (EU) No 2015/1017
Article 6 – paragraph 1 – introductory part
Article 6 – paragraph 1 – introductory part
The EFSI Agreement shall provide that the EFSI is to support projects which address market failures or sub-optimal investment situoperations and which:;
Amendment 299 #
Proposal for a regulation
Article 1 – paragraph 1 – point 3 a (new)
Article 1 – paragraph 1 – point 3 a (new)
Regulation (EU) No 2015/1017
Article 6 – paragraph 1 – point a
Article 6 – paragraph 1 – point a
(3 a) are economically viablein Article 6(1), point (a) is replaced by the following: ‘(a) provide a remuneration for the public contributors to the EFSI that is commensurate with their aggregate cost of funds according to a cost- benefit analysis following Union standards, taking into account possible support from, and co- financing by, private and public partners to a project;’;
Amendment 301 #
Proposal for a regulation
Article 1 – paragraph 1 – point 3 b (new)
Article 1 – paragraph 1 – point 3 b (new)
Regulation (EU) No 2015/1017
Article 6 – Paragraph 1 – Point b
Article 6 – Paragraph 1 – Point b
(3 b) are consistent with Union policies, including the objective of smart, sustainable and inclusive growth, quality job creation, and economic, social and territorial cohesionin Article 6(1), point (b) is replaced by the following: ‘(b) are strategic operations;’;
Amendment 302 #
Proposal for a regulation
Article 1 – paragraph 1 – point 3 c (new)
Article 1 – paragraph 1 – point 3 c (new)
Regulation (EU) No 2015/1017
Article 6 – Paragraph 1 – Point d
Article 6 – Paragraph 1 – Point d
(d) mobilisation of private sector capital; and3 c) Article 6 (1), point (d) is deleted. maximise where possible the
Amendment 319 #
Proposal for a regulation
Article 1 – paragraph 1 – point 4 – point a – point - i (new) Regulation (EU) No
Article 1 – paragraph 1 – point 4 – point a – point - i (new) Regulation (EU) No
2015/1017
Article 7 – paragraph 8 – point d
Article 7 – paragraph 8 – point d
(-i) point (d) is replaced by the following: ‘(d) information and communication technologies infrastructures;, such as energy efficient block chain technologies to create economic incentives for environmentally responsible behaviour;’
Amendment 322 #
Proposal for a regulation
Article 1 – paragraph 1 – point 4 – point a – point i b (new)
Article 1 – paragraph 1 – point 4 – point a – point i b (new)
Regulation (EU) No 2015/1017
Article 7 – paragraph 8 – point k
Article 7 – paragraph 8 – point k
(i b) point (k) is replaced by the following: ‘(k) social infrastructures, social services and the social and solidarity economy.;’
Amendment 330 #
Proposal for a regulation
Article 1 – paragraph 1 – point 4 – point dRegulation (EU) No 2015/1017
Article 1 – paragraph 1 – point 4 – point dRegulation (EU) No 2015/1017
Article 7 – paragraph 12 – subparagraph 2 – second sentence
‘Decisions approving the use of the EU guarantee shall be publicshed and accessible through detailed minutes, and include the rationale for the decision, with particular focus on compliance with the additionality criterion. The publication shall not contain commercially sensitive information. In reaching its decision, the Investment Committee shall be supported by the documentation provided by the EIB.’; Scoreboard referred to in paragraph 14 shall function as a means for prioritising investment in order to maximise the aggregate score over the EFSI portfolio and shall be publicly available after the evaluation of projects applying for the use of the EU guarantee. The publication shall not contain commercially sensitive information. In reaching its decision, the Investment Committee shall be supported by the documentation provided by the EIB. The EIB shall submit twice a year to the European Parliament, the Council and the Commission a list of all decisions of the Investment Committee rejecting the use of the EU guarantee as well as subject to strict confidentiality requirements.’
Amendment 337 #
Proposal for a regulation
Article 1 – paragraph 1 – point 4 – point d a (new)
Article 1 – paragraph 1 – point 4 – point d a (new)
Regulation (EU) No 2015/1017
Article 7 – paragraph 14
Article 7 – paragraph 14
(d a) article 7 para 14 is replaced by the following: ‘14. The Commission shall be empowered to adopt delegated acts in accordance with Article 23(1) to (3) and (5) to supplement this Regulation by establishing a scoreboard of indicators to be used by the Investment Committee to ensure an independent and transparent assessment of the potential and actual use of the EU guarantee. The scoreboard shall consist of 3 pillars: - a "Strategic Targeting" pillar which shall include indicators assessing the degree to which a proposed operation qualifies as "additional" as defined in this regulation as well as the degree to which the proposed operation contributes to the general objectives set out in Article 9 - a "Citizens' Impact" pillar which shall include indicators such as long term job creation and gross value added, weighted by the unemployment and output gaps applicable in the geographical areas concerned and distinguishing between direct and indirect effects - a "Technical Execution" pillar which shall include indicators relating to the efficiency of the investment process such as the ratio of public to private commitments, the quality and capabilities of promoters, intermediaries and platforms. The scores under each pillar shall be combined as a weighted sum where the "targeting" and "overall impact" pillar scores are equally weighted and the "technical" pillar score receives a weight of no more than half of that applied to the other pillars. Such delegated acts shall be prepared in close dialogue with the EIB.
Amendment 339 #
Proposal for a regulation
Article 1 – paragraph 1 – point 5 – point - a (new)
Article 1 – paragraph 1 – point 5 – point - a (new)
Regulation (EU) No 2015/1017
Article 9 – paragraph 2
Article 9 – paragraph 2
(-a) paragraph 2 is replaced by the following: ‘The EU guarantee shall be granted for EIB financing and investment operations approved by the Investment Committee referred to in Article 7(7) or for funding or guarantees to the EIF in order to conduct EIB financing and investment operations in accordance with Article 11(3). The operations concerned shall be consistent with Union policies andstrategic operations and shall directly support any of the following general objectives: (a) research, development and innovation, in particular through: (i) projects that are in line with Horizon 2020; (ii) research infrastructures; (iii) demonstration projects and programmes as well as deployment of related infrastructures, technologies and processes; (iv) support to academia including collaboration with industry; (v) knowledge and technology transfer; (b) development of the energy sector in accordance with the Energy Union priorities, including security of energy supply, and the 2020, 2030 and 2050 climate and energy frameworks, in particular through: (i) expansion of the use or supply of renewable energy; (ii) energy efficiency and energy savings (with a focus on reducing demand through demand- side management and the refurbishment of buildings); (iii) development and modernisation of energy infrastructure (in particular interconnections, smart grids at distribution level, energy storage and synchronisation of networks); (c) development of transport infrastructures, and equipment and innovative technologies for transport, in particularcluding small scale projects, that are listed in the individual member states' Transport Master Plans, through: (i) projects and horizontal priorities eligible under Regulations (EU) No 1315/2013 and (EU) No 1316/2013; (ii) smart and sustainable urban mobility projects (targeting accessibility, reduction of greenhouse gas emissions, energy consumption and accidents); (iii) projects connecting nodes to TEN- T infrastructures; (d) financial support through the EIF and the EIB to entities having up to 3 000 employees, with a particular focus on SMEs and small mid- cap companies, in particular through: (i) provision of working capital and investment; (ii) provision of risk financing from seed to expansion stages for SMEs, start- ups, small mid- cap companies and mid- cap companies, to ensure technological leadership in innovative and sustainable sectors; (e) development and deployment of information and communication technologies, in particular through: (i) digital content; (ii) digital services; (iii) telecommunications infrastructures of high speed; (iv) broadband network; (f) climate change mitigation and adaptation, environment and resource efficiency, in particular through: (i) projects and infrastructures in the field of environmental protection and management; (ii) strengthening of eco- system services; (iii) sustainable urban and rural development; (iv) climate change actions; (g) human capital, culture and health, in particular through: (i) education and training; (ii) cultural and creative industries and projects in line with the Cultural and Creative Sector Guarantee Facility (CCS GF); (iii) innovative health solutions; (iv) new effective medicines; (v) quality social infrastructures, social services and social and solidarity economy; (vi) tourism. ; EFSI may not be used for defence or military related expenditure and current EIB lending criteria must continue to apply in this regard to purely civilian ends. The EIB shall ensure that at least 50 % of EFSI financing under the infrastructure and innovation window supports projects that contribute directly to the COP21 commitments, including that at least 20% of EFSI financing shall go to projects in the sectors listed in Article 9 (2) point (b) (ii), 20% to sectors listed point (c) related to sustainable, energy efficient, low- carbon transport and mobility projects. The EIB shall ensure that at least 20% of all EFSI financing supports projects contributing directly to tackling poverty and social exclusion The Steering Board shall provide detailed guidance to that end. All EFSI projects shall comply with National Energy and Climate Plans in delivering 2030 targets and should simultaneously be climate- proofed in line with the COP21 commitments. The Steering Board shall develop adequate assessment tools and detailed guidance to that end. EFSI financing in support of projects that contribute to climate action shall not be included into the EIB climate action target established for its standard portfolio of projects
Amendment 348 #
Proposal for a regulation
Article 1 – paragraph 1 – point 5 – point a Regulation (EU) No 2015/1017
Article 1 – paragraph 1 – point 5 – point a Regulation (EU) No 2015/1017
Article 9 – paragraph 2 – points (h) and (i)
Amendment 350 #
Proposal for a regulation
Article 1 – paragraph 1 – point 5 – point a
Article 1 – paragraph 1 – point 5 – point a
Regulation (EU) No 2015/1017
Article 9 – paragraph 2 – point h
Article 9 – paragraph 2 – point h
Amendment 359 #
Proposal for a regulation
Article 1 – paragraph 1 – point 5 – point a
Article 1 – paragraph 1 – point 5 – point a
Regulation (EU) No 2015/1017
Article 9 – paragraph 2 – point i
Article 9 – paragraph 2 – point i
Amendment 362 #
Proposal for a regulation
Article 1 – paragraph 1 – point 5 – point b
Article 1 – paragraph 1 – point 5 – point b
Regulation (EU) No 2015/1017
Article 9 – paragraph 2 – subparagraph 1 a
Article 9 – paragraph 2 – subparagraph 1 a
Amendment 379 #
Proposal for a regulation
Article 1 – paragraph 1 – point 5 – point c
Article 1 – paragraph 1 – point 5 – point c
Regulation (EU) No 2015/1017
Article 9 – paragraph 3
Article 9 – paragraph 3
3. The investment period during which the EU guarantee may be granted for supporting financing and investment operations covered by this Regulation shall last until: (a) 31 December 2020, for EIB operations for which a contract between the EIB and the beneficiary or financial intermediary has been signed by 31 December 2022; (b) 31 December 2020, for EIF operations for which a contract between the EIF and the financial intermediary has been signed by 31 December 2022. A new investment period may be set in accordance with the procedure provided for in Article 18.
Amendment 386 #
Proposal for a regulation
Article 1 – paragraph 1 – point 5 – point d a (new)
Article 1 – paragraph 1 – point 5 – point d a (new)
Regulation (EU) No 2015/1017
Article 9 – paragraph 6 – subparagraph 2 a (new)
Article 9 – paragraph 6 – subparagraph 2 a (new)
(c a) in Article 9(6), the following subparagraph 2a is added: ‘When EFSI is combined with other funds such as Horizon 2020, CEF or the European Structural and Investment Funds, the additionality criteria must apply, the highest risk tranche shall be covered by EFSI and the project eligibility criteria of the European Structural and Investment Funds shall apply to the entire project;’
Amendment 392 #
Proposal for a regulation
Article 1 – paragraph 1 – point 6
Article 1 – paragraph 1 – point 6
Regulation (EU) No 2015/1017
Article 10 – paragraph 2 – point a
Article 10 – paragraph 2 – point a
(a) EIB loans, guarantees, counter- guarantees, capital market instruments, any other form of funding or credit enhancement instrument, including subordinated debt, equity or quasi- equity participations, including in favour of national promotional banks or institutions, investment platforms or funds;
Amendment 400 #
Proposal for a regulation
Article 1 – paragraph 1 – point 7 – point c
Article 1 – paragraph 1 – point 7 – point c
Regulation (EU) No 2015/1017
Article 11 – paragraph 6 – point a
Article 11 – paragraph 6 – point a
(a) for debt instruments referred to in Article 10(2)(a), the principal and all interest and amounts due to the EIB but not received by it in accordance with the terms of the financing operations until the event of default; losses arising from fluctuations of currencies other than the euro in markets where possibilities for long-term hedging are limited; for subordinated debt a deferral, reduction or required exit shall be considered to be an event of default;
Amendment 404 #
Proposal for a regulation
Article 1 – paragraph 1 – point 9 – point a – point i
Article 1 – paragraph 1 – point 9 – point a – point i
Regulation (EU) No 2015/1017
Article 14 – paragraph 1 – subparagraph 1 – second sentence
Article 14 – paragraph 1 – subparagraph 1 – second sentence
Such support shall include providing targeted support on the use of technical assistance for project structuring, on the use of innovative financial instruments and on the use of public-private partnerships, and advice, as appropriate, on relevant issues relating to Union law, taking into account the specificities and needs of Member States with less- developed financial markets and different sectors.
Amendment 409 #
Proposal for a regulation
Article 1 – paragraph 1 – point 9 – point a – point i a (new)
Article 1 – paragraph 1 – point 9 – point a – point i a (new)
Regulation (EU) No 2015/1017
Article 14 – paragraph 1 – subparagraph 2
Article 14 – paragraph 1 – subparagraph 2
(i a) In Article 14, the second subparagraph is replaced by the following ‘The EIAH shall be able to provide technical assistance in the areas listed in Article 9(2), in particular energy efficiency, TEN-T and T, urban mobility. and social infrastructure.’
Amendment 410 #
Proposal for a regulation
Article 1 – paragraph 1 – point 9 – point a – point ii
Article 1 – paragraph 1 – point 9 – point a – point ii
Regulation (UE) 2015/1017
Article 14 – paragraph 1 – subparagraph 2 – sentence 1 a (new)
Article 14 – paragraph 1 – subparagraph 2 – sentence 1 a (new)
Amendment 412 #
Proposal for a regulation
Article 1 – paragraph 1 – point 9 – point a – point ii
Article 1 – paragraph 1 – point 9 – point a – point ii
Regulation (EU) No 2015/1017
Article 14 – paragraph 1 – subparagraph 2 – sentence 1 a (new)
Article 14 – paragraph 1 – subparagraph 2 – sentence 1 a (new)
It shall also support the preparation of climate action and circular economy projects or components thereof, in particular in the context of COP21, the preparation of projects in the digital sector, in the development of projects tackling poverty and social exclusion, as well as the preparation of projects referred to in the fifth subparagraph of Article 5(1).’
Amendment 417 #
Proposal for a regulation
Article 1 – paragraph 1 – point 9 – point b – point i
Article 1 – paragraph 1 – point 9 – point b – point i
Regulation (EU) No 2015/1017
Article 14 – paragraph 2 – point c
Article 14 – paragraph 2 – point c
(c) leveraging local knowledge to facilitate EFSI support across the Union and contributing where possible to the objective of sectorial and geographical diversification of the EFSI referred to in Section 8 of Annex II by supporting the EIB to originate and aggregate operations;
Amendment 422 #
Proposal for a regulation
Article 1 – paragraph 1 – point 9 – point b – point ii
Article 1 – paragraph 1 – point 9 – point b – point ii
Regulation (EU) No 2015/1017
Article 14 – paragraph 2 – point e
Article 14 – paragraph 2 – point e
(e) providing pro-active support on the establishment of investment platforms, including sectoral investment platforms and notably in the area of energy efficiency;
Amendment 427 #
Proposal for a regulation
Article 1 – paragraph 1 – point 9 – point b – point iii
Article 1 – paragraph 1 – point 9 – point b – point iii
Regulation (EU) No 2015/1017
Article 14 – paragraph 2 – point f
Article 14 – paragraph 2 – point f
(f) providing advice on the combination of other sources of Union funding (such as the European Structural and Investment Funds, Horizon 2020 and the Connecting Europe Facility) with the EFSIunder the prerequisite of EFSI taking the highest risk taking tranche, as well as informing about the respective eligibility criteria to be respected for project selection of these funds and therefore by the project as a whole;
Amendment 430 #
Proposal for a regulation
Article 1 – paragraph 1 – point 9 – point b – introductory part
Article 1 – paragraph 1 – point 9 – point b – introductory part
Regulation (EU) No 2015/1017
Article 14 – paragraph 2 – point f a (new)
Article 14 – paragraph 2 – point f a (new)
(iii a) The following point (fa) is added: (fa) EIAH services provided to projects covered by targeted funding under Art. 9.2. shall also be free of charge.
Amendment 435 #
Proposal for a regulation
Article 1 – paragraph 1 – point 9 – point d
Article 1 – paragraph 1 – point 9 – point d
Regulation (EU) No 2015/1017
Article 14 – paragraph 6 – second sentence
Article 14 – paragraph 6 – second sentence
Cooperation between, on the one hand, the EIAH and, on the other hand, a national promotional bank or institution, an international financing institution or an institution or a managing authority, including those acting as a national advisor, having expertise relevant for the purposes of the EIAH, may take the form of a contractual partnership. In this respect, the EIAH shall assess the possibility to establish decentralised regional clusters of technical assistance to better meet the needs of a specific sector and/or region. This assessment shall be done with the involvement of Member States and national promotional banks. The EIAH shall in particular assess the relevance of establishing such a decentralised regional cluster to support energy efficiency projects in South- Eastern Europe.
Amendment 444 #
Proposal for a regulation
Article 1 – paragraph 1 – point 9 a (new)
Article 1 – paragraph 1 – point 9 a (new)
Regulation (EU) No 2015/1017
Article 16 – paragraph 2 – point c
Article 16 – paragraph 2 – point c
(9 a) Article 16 (2) c) is replaced by the following: ‘(c) an assessment of the extent to which operations covered by this Regulation contribute to the achievement of the general objectives set out in Article 9(2) including an assessment of the level of EFSI investments in the areas of research, development and innovation and transport (including TEN -T and urban mobility), telecommunications, energy infrastructure and, energy efficiency; and social infrastructure, social services and social and solidarity economy;’
Amendment 445 #
Proposal for a regulation
Article 1 – paragraph 1 – point 9 a (new)
Article 1 – paragraph 1 – point 9 a (new)
Regulation (EU) No 2015/1017
Article 16 – paragraph 2 – point f
Article 16 – paragraph 2 – point f
(9 b) article 16 (2) f) is replaced by the following: ‘(f) a description of the projects where the support of the European Structural and Investment Funds is combined with the support of the EFSI, and the total amount of the contributions from each source; as well as the risk profile of each one;’
Amendment 448 #
Proposal for a regulation
Article 1 – paragraph 1 – point 9 b (new)
Article 1 – paragraph 1 – point 9 b (new)
Regulation (EU) No 2015/1017
Article 16 – paragraph 16 a (new)
Article 16 – paragraph 16 a (new)
(9 b) In Article 16, a new paragraph is added: ‘16a. The Commission shall submit an annual report listing the details of all projects per policy area that received EU support through EFSI, the total amount of the contribution of each source, as well as the risk profiles.’
Amendment 456 #
Proposal for a regulation
Article 1 – paragraph 1 – point 11
Article 1 – paragraph 1 – point 11
Regulation (EU) No 2015/1017
Article 19 – paragraph 1 a (new)
Article 19 – paragraph 1 a (new)
The EIB and EIF shall inform or shall oblige financial intermediaries to inform the final beneficiaries, including SMEs, of the existence of EFSI support. projects selected for potential use of the EFSI guarantee shall also be notified as such on the EIB website before the Investment Committee's decision. The EIB and EIF shall inform or shall oblige financial intermediaries to inform the final beneficiaries, including SMEs, of the existence of EFSI support. Financial intermediaries shall carry out active communication campaigns to potential beneficiaries of the existing EU resources managed by them, the conditions offered and how can they access to them.
Amendment 460 #
Proposal for a regulation
Article 1 – paragraph 1 – point 12
Article 1 – paragraph 1 – point 12
Regulation (EU) No 2015/1017
Article 22 – paragraph 1 – subparagraph 2
Article 22 – paragraph 1 – subparagraph 2
In particular the EIB and the EIF shall not participate in any financing or investment operation through a vehicle located in a jurisdiction that does not co-operate with the Union in relation to the application of the intnon-cooperative jurisdiction, characterised in particular by no, or only nominal, or low taxes, a lack of effective automatic exchange of information in tax matters, a lack of transparency in legislative, judicial or administrative provisions and providing harmful tax measures as defined by the Code of Conduct on Business taxation or, identified by the Organisation for Economic Coopernationally agreed tax standards on transparency and exchange of informa and Development as being a non-cooperative jurisdiction or, identified as high risk countries pursuant to article 9 paragraph 2 of DIRECTIVE (EU) 2015/849 or, included in the common EU list of non-cooperative tax jurisdictions.
Amendment 466 #
Proposal for a regulation
Article 1 – paragraph 1 – point 12
Article 1 – paragraph 1 – point 12
The Commission shall provide detailed guidance, where needed fully taking into account the obligations set out in this article.
Amendment 469 #
Proposal for a regulation
Article 1 – paragraph 1 – point 12 a (new) Regulation (EU) No 2015/1017
Article 1 – paragraph 1 – point 12 a (new) Regulation (EU) No 2015/1017
(12 a) In Article 22, a new paragraph 2a is added: ‘The EIB shall put in place procedures to detect when an intermediary or final recipient of EFSI funds has infringed the legislation referred to in the first subparagraph and to recover the EFSI funds from them.’
Amendment 470 #
Proposal for a regulation
Article 1 – paragraph 1 – point 12 b (new)
Article 1 – paragraph 1 – point 12 b (new)
Regulation (EU) No 2015/1017
Article 22 a (new)
Article 22 a (new)
(12 b) A new Article is added: ‘Article 22a Gender Mainstreaming EFSI investments shall promote gender equality and the selected projects shall respect the principles of gender budgeting, notably identifying objectives linked to gender equality, designing policies according to these objectives, allocating of funds and ensuring the identification of gender indicators to measure the impact of these investments.’
Amendment 473 #
Proposal for a regulation
Article 1 – paragraph 1 – point 13
Article 1 – paragraph 1 – point 13
Regulation (EU) No 2015/1017
Article 23 – paragraph 2 – subparagraph 1 – first and second sentence
Article 23 – paragraph 2 – subparagraph 1 – first and second sentence
The power to adopt delegated acts referred to in Article 7(13) and (14) shall be conferred on the Commission for a period of five years from 4 July 2015. The Commission shall draw up a report in respect of the delegation of power not later than nine months before the end of the five-year period.; The Commission shall propose a revision of delegated regulation 2015/1558 within one month after this regulation is published in the Official Journal of the European Union.
Amendment 480 #
Proposal for a regulation
Article 2 – paragraph 1
Article 2 – paragraph 1
Regulation (EU) No 1316/2013
Article 5 – paragraph 1
Article 5 – paragraph 1
Amendment 484 #
Proposal for a regulation
Annex II – point 1 – point a
Annex II – point 1 – point a
Regulation (EU) No 2015/1017
Annex II – section 2 – point b – subparagraph 1 a (new)
Annex II – section 2 – point b – subparagraph 1 a (new)
EFSI support to motorways and airports shall 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. and refocused on low- carbon public transport projects unless directly related to mitigation of environmental damage due to existing infrastructure. EFSI support shall not be used for fossil fuel infrastructure or nuclear energy. EFSI support shall not be used for defence sector.
Amendment 491 #
Proposal for a regulation
Annex II – point 1 – point b Regulation (EU) No 2015/1017
Annex II – point 1 – point b Regulation (EU) No 2015/1017
In this context, it is expected that the EIB will provide finance under the EFSI with a view to reach an overall target of at least EUR 500 000 000 000 of maximum realisation of quality projects contributing i.e. to achieve EU COP21 commitments through public or private investment, including financing mobilised through the EIF under EFSI operations relating to the instruments referred to in Article 10(2)(b), national promotional banks or institutions and increased access to financing for entities having up to 3 000 employees.;
Amendment 493 #
Proposal for a regulation
Annex II – point -2 (new)
Annex II – point -2 (new)
Regulation 2015/1017
Annex II – section 3 – subparagraph 1
Annex II – section 3 – subparagraph 1
(-2) In section 3, the firs subparagraph is replaced by the following: ‘The EU guarantee shall be granted in support of operations that meet the criterion of providing additionality as defined in Article 5(1) of this Regulation. and shall generate long-term societal and environmental benefits.’
Amendment 495 #
Proposal for a regulation
Annex II – point 3
Annex II – point 3
The scoreboard shall be made public as soon as an operation under the EU guarantee is signed, with the exclusion of commercially sensitive informationis approved, with the exclusion of commercially sensitive information. the Investment Committee shall provide the Parliament with the scoreboard of indicators of rejected operations with the exclusion of commercially sensitive information as well as an overview of the investment-weighted aggregate scores of approved projects.
Amendment 499 #
Proposal for a regulation
Annex II – point 6 – point c a (new)
Annex II – point 6 – point c a (new)
Regulation 2015/1017
Annex II – section 8 – point b
Annex II – section 8 – point b
(c a) in section 8, point b, the first paragraph is replaced by the following: ‘EFSI- supported operations shall not be concentrated in any specific territory at the end of the initial investment period. To this end the Steering Board shall adopt and ensure the effective implementation of indicative geographical diversification and concentration guidelines. The Steering Board may decide to modify these indicative limits, after consulting the Investment Committee. The Steering Board shall explain its decisions relating to the indicative limits to the European Parliament and the Council in writing. The EFSI shouldall aim to cover all Member States.’