27 Amendments of Marisa MATIAS related to 2016/0276(COD)
Amendment 58 #
Proposal for a regulation
Recital -1 (new)
Recital -1 (new)
(–1) There is an investment gap in the EU that is compromising the resumption of economic growth.
Amendment 59 #
Proposal for a regulation
Recital -1 a (new)
Recital -1 a (new)
(–1a) There is a liquidity surplus in the banking system, which does not suggest market failure at investment level.
Amendment 60 #
Proposal for a regulation
Recital -1 b (new)
Recital -1 b (new)
(–1b) There are some reservations with regard to the implementation of the EFSI, particularly in relation to additionality, excessive geographical and thematic concentration and the governance model, concerns which have also been expressed in the Court of Auditors report.
Amendment 61 #
Proposal for a regulation
Recital -1 c (new)
Recital -1 c (new)
(–1c) The plan to turn the EFSI into a permanent instrument could transform it into a further anti-democratic element in the distribution among the Member States of private investment with public support.
Amendment 62 #
Proposal for a regulation
Recital -1 d (new)
Recital -1 d (new)
(–1d) Only a genuinely public investment plan geared to social, economic and territorial cohesion will be capable of helping to increase aggregate demand and carry out investment in public infrastructure, which may subsequently leverage and boost private investment. Only a plan of this nature can be effective in reviving growth, fighting unemployment and combating social, economic and territorial inequalities.
Amendment 65 #
Proposal for a regulation
Recital 1
Recital 1
(1) Since the Investment Plan for Europe was presented in November 20143 , the conditions for an uptake in investment have improved and confidence in Europe’s economy and growth are returningonly marginally improved. The Union is now in its fourth year of moderate recovery, with Gross Domestic Product growing at 2% in 2015. The comprehensive efforts initiatHowever, growth is unevenly distributed among Member States and mainly export led, with the Investmecurrent account Pbalan arece of the Euro already delivering concrete results, despite the fact that macroeconomic effects of larger investment projects cannot be immediate. Investment is expected to pick up gradually throughout 2016 and 2017 although it remains below historical levels exceeding 3% of GDP in 2016. Investment remains subdued and still below historical levels. So far, efforts initiated with the Investment Plan failed to close the investment gap in the EU. _________________ 3 COM(2014) 903 final.
Amendment 70 #
Proposal for a regulation
Recital 2
Recital 2
(2) That positive momentum should be maintained and efforts need to be continuedo build momentum to bring investment back to its long-term sustainable trend. T, the mechanisms of the Investment Plan work and should be reinforced to continue the mobilisation of private investments in sectors important to Europe's future and where market failures or sub-optimal investment situations remaincomplemented by public investment programs and reinforced efforts to mobilize investments in sectors important to Europe's future.
Amendment 110 #
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 privateublic sector financing in investments crucial for Europe’'s future job creation – including for the youth –, and growth and competitiveness with strengthenwith ensured additionality. They include investments in the areas of energy, environment and climate action, social and human capitaleconomy 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 eand the EU 2050 commitment to reduce Greenhouse gas emissions by 80-95%, must be reinforced. 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 countryor fossil fuel projects must be avoided. 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 132 #
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. Only public operations in infrastructure under the Infrastructure and Innovation Window linking two or more Member States, including e-infrastructure, should be considered additional given their inherent difficulty and their high added value for the Union. EFSI should not finance public-private- partnership projects in infrastructure, given that these are in general more expensive for tax payers and consumers.
Amendment 147 #
Proposal for a regulation
Recital 10
Recital 10
Amendment 161 #
Proposal for a regulation
Recital 11
Recital 11
(11) In order to reinforce the take-up of the EFSI in less-developed and transition regions, and to encourage social and regional cohesion through the creation of quality jobs and the broadening and improvement of the productive base of Member States, especially those most affected by the crisis, the scope of the general objectives eligible for EFSI support should be enlarged.
Amendment 186 #
Proposal for a regulation
Recital 14
Recital 14
Amendment 190 #
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, including through the development and deployment of new instrument with additional resources, as well as the support capacities for SME of the advisory hub. Particular attention should be paid to social enterprises.
Amendment 210 #
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 signapproved.
Amendment 248 #
Proposal for a regulation
Recital 22
Recital 22
(22) Regulation (EU) No 1316/2013 and Regulation (EU) No 2015/1017 should therefore be amended accordingly,
Amendment 288 #
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 – subparagraph 5
Article 5 – paragraph 1 – subparagraph 5
Amendment 296 #
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
Amendment 335 #
Proposal for a regulation
Article 1 – paragraph 1 – point 4 – point d
Article 1 – paragraph 1 – point 4 – point d
Regulation (EU) No 2015/1017
Article 7 – paragraph 12 – subparagraph 2 – second sentence
Article 7 – paragraph 12 – subparagraph 2 – second sentence
Decisions approving the use of the EU guarantee shall be public and accessible, 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.
Amendment 345 #
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 – point c – introductory part
Article 9 – paragraph 2 – point c – introductory part
(-a) in Article 9, in paragraph 2 point (c) is replaced by the following: ‘(c) development of transport infrastructures, and equipment and innovative technologies for transport, avoiding any finance to intensive fossil fuel infrastructures such as motorway and airports, in particular through:’
Amendment 364 #
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
The EIB shall target that at least 480 % of EFSI financing under the infrastructure and innovation window supports projects with components that contribute to climate action, in line with the COP21 commitmentscluding at least 35% of EFSI financing to support energy efficiency projects, are in line with the COP21 commitments and the EU 2050 commitments to reduce greenhouse gas emission by 80-95%. The Steering Board shall provide detailed guidance to that end.
Amendment 391 #
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 participationsany other form of funding instrument, including in favour of national promotional banks or institutions, investment platforms or funds;
Amendment 406 #
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, taking into account the specificities and needs of Member States with less-developed financial markets technical assistance available.
Amendment 418 #
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 operations;;
Amendment 446 #
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 j a (new)
Article 16 – paragraph 2 – point j a (new)
(9 a) in Article 16(2) the following point is added: ‘(ja) detailed information on the tax payments resulting from its investment and lending operations under the EFSI;’
Amendment 461 #
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 internationally agreed tax standards s whose legal framework or administrative practices facilitate or tolerate tax evasion, tax avoidance or money laundering. In this context, the EIB's and the EIF's policy towards weakly regulated or non-cooperative jurisdictions shall be based on policies of the Union, the Organisation for Economic Co-operation and Development or the Financial Action Task Force and go beyond transparency and exchange of information. hose recommendations if necessary to detect further risks of tax evasion, tax avoidance and money laundering.
Amendment 467 #
Proposal for a regulation
Article 1 – paragraph 1 – point 12 a (new)
Article 1 – paragraph 1 – point 12 a (new)
Regulation (EU) No 2015/1017
Article 22 – paragraph 2
Article 22 – paragraph 2
(12 a) paragraph 2 is replaced by: ‘2. In its financing and investment operations covered by this Regulation, the EIB and the EIF shall apply the principles and standards set out in Union law on the prevention of the use of the financial system for the purpose of money laundering and terrorist financing and in particular in Regulation (EU) 2015/847 of the European Parliament and of the Council (18) and Directive (EU) 2015/849 of the European Parliament and of the Council (19). In particular, the EIB and the EIF shall make both direct funding and funding via intermediaries under this Regulation contingent upon the disclosure of beneficial ownership information in accordance with Directive (EU) 2015/849. and country-by-country reporting data equivalent to the provisions for credit institutions in Directive (EU) 2013/36 (CRD IV) .’
Amendment 478 #
Proposal for a regulation
Article 2
Article 2
Regulation (EU) No 1316/2013
Article 5 – paragraph 1
Article 5 – paragraph 1