Activities of Dennis de JONG related to 2015/0009(COD)
Shadow opinions (1)
OPINION on the proposal for a regulation of the European Parliament and of the Council on the European Fund for Strategic Investments and amending Regulations (EU) No 1291/2013 and (EU) No 1316/2013
Amendments (29)
Amendment 11 #
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. The Union suffers in particular from a lack of investment as a consequence of market uncertainty regarding the economic future and the fiscal constraints onausterity policies of the Member States. This lack of investment slows economic recovery and negatively affects job creation, long-term growth prospects and competitiveness.
Amendment 13 #
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. The Union suffers in particular from a lack of investment as a consequence of market uncertainty regarding the economic future and the fiscal constraints onausterity policies of the Member States. This lack of investment slows economic recovery and negatively affects job creation, long-term growth prospects and competitiveness.
Amendment 14 #
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 stimulating investment. Along with a renewed impetus towards investment financing, these preconditions can contribute to establishing a virtuous circle, whereAlong with a renewed impetus towards investment financing, investment projects help support employment and demand and lead to a sustained increase in growth potential.
Amendment 14 #
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 stimulating investment. Along with a renewed impetus towards investment financing, these preconditions can contribute to establishing a virtuous circle, whereAlong with a renewed impetus towards investment financing, investment projects help support employment and demand and lead to a sustained increase in growth potential.
Amendment 19 #
Proposal for a regulation
Recital 11
Recital 11
(11) The EFSI should support strategic investments with high economic value added contributing to achieving UnionMember States policy objectives.
Amendment 22 #
Proposal for a regulation
Recital 11
Recital 11
(11) The EFSI should support strategic investments with high economic value added contributing to achieving UnionMember States’ policy objectives.
Amendment 24 #
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 projectrepresentatives from all relevant stakeholders. The Investment Committee should be accountable to a Steering Board of the EFSI, who should supervise the fulfilment of the EFSI's objectives. To effectively benefit from the experience of the EIF, the EFSI should support funding to the EIF to allow the EIF to undertake individual projects in the areas of small and medium enterprises and small mid-cap companies.
Amendment 27 #
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 projectrepresentatives from all relevant stakeholders. The Investment Committee should be accountable to a Steering Board of the EFSI, who should supervise the fulfilment of the EFSI's objectives. To effectively benefit from the experience of the EIF, the EFSI should support funding to the EIF to allow the EIF to undertake individual projects in the areas of small and medium enterprises and small mid-cap companies.
Amendment 35 #
Proposal for a regulation
Recital 27 a (new)
Recital 27 a (new)
Amendment 36 #
Proposal for a regulation
Article 1 – paragraph 1 – subparagraph 1
Article 1 – paragraph 1 – subparagraph 1
The Commission and the Council shall conclude an agreement with the European Investment Bank (EIB) on the establishment of a European Fund for Strategic Investments ('EFSI').
Amendment 37 #
Proposal for a regulation
Recital 30
Recital 30
Amendment 39 #
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 UnionMember States and to ensure increased access to financing for companies having up to 31000 employees, with a particular focus on small and medium enterprises, through the supply of risk bearing capacity to the EIB ('EFSI Agreement').
Amendment 46 #
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 promotional banks or public agencies owned or controlled by Member States, and private sector entities.
Amendment 50 #
Proposal for a regulation
Article 2 – paragraph 1 – subparagraph 1 – point g a (new)
Article 2 – paragraph 1 – subparagraph 1 – point g a (new)
(ga) provisions ensuring that SMEs and micro-enterprises get priority access to EFSI support;
Amendment 53 #
Proposal for a regulation
Article 2 – paragraph 1 – subparagraph 1 – point d
Article 2 – paragraph 1 – subparagraph 1 – point d
(d) the governance arrangements concerning the EFSI, in accordance with Article 3, without prejudice to the Statute of the European Investment Bank, including a cap on managing costs of the EIB;
Amendment 55 #
Proposal for a regulation
Article 2 – paragraph 1 – subparagraph 1 – point g a (new)
Article 2 – paragraph 1 – subparagraph 1 – point g a (new)
(ga) provisions ensuring that SMEs and micro-enterprises get priority access to EFSI support;
Amendment 55 #
Proposal for a regulation
Article 3 – paragraph 3 – subparagraph 2
Article 3 – paragraph 3 – subparagraph 2
The Steering Board shall strive to make decisions by consensus. If the Steering Board is not able to decide by consensus within a deadline set by the Chairperson, the Steering Board shall take a decision by simplequalified majority.
Amendment 56 #
Proposal for a regulation
Article 3 – paragraph 3 – subparagraph 3
Article 3 – paragraph 3 – subparagraph 3
Amendment 57 #
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 exprepresentatives from all relevant stakeholderts and the Managing Director. Independent experts shall have a high level of relevant market experience in project finance and be appointed by the Steering Board for a renewable fixed term of three years.
Amendment 59 #
Proposal for a regulation
Article 2 – paragraph 1 – subparagraph 1 – point j a (new)
Article 2 – paragraph 1 – subparagraph 1 – point j a (new)
(ja) provisions ensuring the external audit by the Court of Auditors of all projects funded under the EFSI.
Amendment 74 #
Proposal for a regulation
Article 3 – paragraph 3 – subparagraph 2
Article 3 – paragraph 3 – subparagraph 2
The Steering Board shall strive to make decisions by consensus. If the Steering Board is not able to decide by consensus within a deadline set by the Chairperson, the Steering Board shall take a decision by simplequalified majority.
Amendment 75 #
Proposal for a regulation
Article 3 – paragraph 3 – subparagraph 3
Article 3 – paragraph 3 – subparagraph 3
Amendment 86 #
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 exprepresentatives from all relevant stakeholderts and the Managing Director. Independent experts shall have a high level of relevant market experience in project finance and be appointed by the Steering Board for a renewable fixed term of three years.
Amendment 89 #
Proposal for a regulation
Article 13 – paragraph 1
Article 13 – paragraph 1
Amendment 91 #
Proposal for a regulation
Article 16 – paragraph 1
Article 16 – paragraph 1
1. In its financing and investment operations, the EIB shall take all necessary measures to ensure that its projects do not contribute to tax evasion. The EIB shall not support any activities carried out for illegal purposes, including money laundering, financing of terrorism, tax fraud and tax evasion, corruption, or fraud affecting the financial interests of the Union. In particular the EIB shall not participate in any financing or investment operation through a vehicle located in a non- cooperative jurisdiction, in line with its policy towards weakly regulated or non- cooperative jurisdictions based on policies of the Union, the Organisation for Economic Cooperation and Development or the Financial Action Task Force.
Amendment 105 #
Proposal for a regulation
Article 5 – paragraph 4 a (new)
Article 5 – paragraph 4 a (new)
4a. The Commission, the EIB, their subsidiary bodies and other bodies set up in this regulation shall not be liable for any possible damages or losses incurred by EFSI beneficiaries, including borrowers of EU-guaranteed financial instruments implemented by the EIB under the EFSI agreement.
Amendment 175 #
Proposal for a regulation
Article 13 – paragraph 1
Article 13 – paragraph 1
Amendment 194 #
Proposal for a regulation
Article 16 – paragraph 1
Article 16 – paragraph 1
1. In its financing and investment operations, the EIB shall take all necessary measures to ensure that its projects are not contributing to tax evasion. The EIB shall not support any activities carried out for illegal purposes, including money laundering, financing of terrorism, tax fraud and tax evasion, corruption, or fraud affecting the financial interests of the Union. In particular the EIB shall not participate in any financing or investment operation through a vehicle located in a non- cooperative jurisdiction, in line with its policy towards weakly regulated or non- cooperative jurisdictions based on policies of the Union, the Organisation for Economic Cooperation and Development or the Financial Action Task Force.
Amendment 1334 #
Proposal for a regulation
Article 13 – paragraph 1
Article 13 – paragraph 1