3 Amendments of Jens GEIER related to 2011/0370(COD)
Amendment 23 #
Proposal for a regulation
Recital 21
Recital 21
(21) This Regulation lays down, for the entire duration of the Programme, an indicative financial envelope constituting the primefinancial reference, within the meaning of point [17] of the Interinstitutional Agreement of XX/YY/201Z between the European Parliament, the Council and the Commission on cooperation in budgetary matters and on sound financial management, for the budgetary authority during the annual budgetary procedure.
Amendment 24 #
Proposal for a regulation
Article 7 – paragraph 2
Article 7 – paragraph 2
2. The priorities shall be implemented as defined in Annex I. Commission shall establish a facility targeting the cultural and creative sectors and operated within the context of a European Union debt instrument for small and medium-sized enterprises. The financial support thus provided shall be earmarked to small and medium-sized enterprises and organisations operating in the cultural and creative sectors. 2.1. Tasks The Cultural and Creative Sectors Financial Facility shall carry out the following tasks: (a) to provide gurantees to appropriate financial intermediaries from any country participating in the Creative Europe Programme; (b) to provide financial intermediaries with additional expertise and capacity to evaluate risks associated with operators in the cultural and creative sectors; 2.2. Selection of intermediaries Intermediaries shall be selected in conformity with best market practice with regard to the effect on: - the volume of debt financing made available to cultural and creative operator and/or - cultural and creative operator access to finance, and/or - risk-taking in cultural and creative operator financing by the intermediary concerned. 2.3. Duration of the Cultural and Creative Sectors Financial Facility Individual guarantees may have a maturity of up to 10 years. In accordance with Article 18.3.h and article 131 of Regulation XX/2012 (Financial Regulation), revenues and repayments generated by the guarantees shall be assigned to the financial facility. For financial facilities already set up in the previous multiannual financial framework, revenues and repayments generated by operations started in the previous period shall be assigned to the financial facility in the current period. 2.4. Capacity Building Capacity building under the Cultural and Creative Sectors Financial Facility is essentially the provision of expert services to the financial intermediaries signing a facility agreement under the Cultural and Creative Sectors Financial Facility, with the objective of providing each financial intermediary with additional expertise and capacity to evaluate risks associated to financing the cultural and creative sectors. Additionally, operators in the cultural and creative sectors could benefit from this capacity building by developing the appropriate skills to elaborate business plans and to prepare accurate information of their projects that would help the financial intermediary evaluate the cultural and creative projects in an efficient way. 2.5. Budget The budgetary allocation shall cover full cost of the Financial Facility, including payment obligations towards financial intermediaries such as losses from guarantees, management fees for the EIF managing the Union's resources, as well as any other eligible costs or expenses. The volume of financial guarantees provided by the Financial Facility shall be defined on the basis of the annual appropriations agreed upon by the budgetary authority in the frame of the annual budgetary procedure. 2.6. Visibility and awareness-raising Each intermediary shall provide an appropriate level of visibility and transparency to the support given by the Union, including adequate information on the financial opportunities made available by the Programme. It shall be ensured that the financial beneficiaries are adequately informed of the available financing opportunities.
Amendment 25 #
Proposal for a regulation
Article 19 – paragraph 1
Article 19 – paragraph 1
1. The financial envelopeWithin the meaning of point [17] of the Interinstitutional Agreement between the European Parliament, the Council and the Commission of xxx/yyy on cooperation in budgetary matters and on sound financial management, the financial reference amount for implementing this Programme for the period set out in Article 1 (1) is fixed atshall be EUR 1 801 000 000. The annual appropriations shall be authorised by the budgetary authority.