18 Amendments of Elisabeth KÖSTINGER related to 2015/0009(COD)
Amendment 67 #
Proposal for a regulation
Recital 14
Recital 14
(14) The EFSI should target environmentally sound and socially acceptable projects delivering high societal and economic value. In particular, the EFSI should target projects that promote job creation, long- term growth and competitiveness. The EFSI should support a wide range of financial products, including equity, debt or guarantees, to best accommodate the needs of the individual project. This wide range of products should allow the EFSI to adapt to market needs whilst encouraging private investment in the projects. The EFSI should not be a substitute for private market finance but should instead catalyse private finance by addressing market failures so as to ensure the most effective and strategic use of public money. The requirement for consistency with State aid principles should contribute to such effective and strategic use.
Amendment 82 #
Proposal for a regulation
Recital 15
Recital 15
(15) The EFSI should target environmentally sound and socially acceptable projects with a higher risk- return profile than existing EIB and Union instruments to ensure additionality over existing operations. The EFSI should finance projects across the Union, including in the countries most affected by the financial crisis. The EFSI should only be used where financing is not available from other sources on reasonable terms.
Amendment 149 #
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 environmentally sound and socially acceptable investments in the Union and to ensure increased access to financing for companies having up to 3000 employees, with a particular focus on small and medium enterprises, through the supply of risk bearing capacity to the EIB ('EFSI Agreement').
Amendment 164 #
Proposal for a regulation
Article 2 – paragraph 2 – subparagraph 1
Article 2 – paragraph 2 – subparagraph 1
The EFSI Agreement shall provide for the creation of a European Investment Advisory Hub ('EIAH') within the EIB. The EIAH shall have as its objective to build upon existing EIB and Commission advisory services in order to provide advisory support for investment projectthe identification, preparation and development of environmentally sound and socially acceptable investment projects, and act as a single technical advisory hub for project financing within the Union. This shall include support on the use of technical assistance for project structuring, use of innovative financial instruments, use of public-private partnerships and advice, as appropriate, on relevant issues of EU legislation.
Amendment 200 #
Proposal for a regulation
Recital 11
Recital 11
(11) The EFSI should support strategic investments with high economic value added contributing to achieving Union policy objectives. The Common Agricultural Policy (CAP), being a fully communitised policy area, applies across EU territory and is therefore a very well suited vehicle for carrying out EFSI projects with maximum reach. Many of the existing CAP instruments can be used to make targeted investments successfully.
Amendment 223 #
Proposal for a regulation
Recital 12
Recital 12
(12) Many small and medium enterprises, as well as mid-cap companies, across the Union require assistance to attract market financing, especially as regards investments that carry a greater degree of risk. This is particularly true of businesses in rural areas, where economic growth and job preservation are urgently needed. The EFSI should help these businesses to overcome capital shortages by allowing the EIB and the European Investment Fund ('EIF') to provide direct and indirect equity injections, as well as to provide guarantees for high-quality securitisation of loans, and other products that are granted in pursuit of the aims of the EFSI.
Amendment 241 #
Proposal for a regulation
Recital 13
Recital 13
(13) The EFSI should be established within the EIB in order to benefit from its experience and proven track record and in order for its operations to start to have a positive impact as quickly as possible. The work of the EFSI on providing finance to small and medium-sized enterprises, including in rural areas, and small mid- cap companies should be channelled through the European Investment Fund ('EIF') to benefit from its experience in these activities.
Amendment 264 #
Proposal for a regulation
Recital 14
Recital 14
(14) The EFSI should target projects delivering high societal and economic value. In particular, the EFSI should target projects that promote job creation, long- term growth and competitiveness, especially infrastructure measures (digital and transport). The EFSI should support a wide range of financial products, including equity, debt or guarantees, to best accommodate the needs of the individual project. This wide range of products should allow the EFSI to adapt to market needs whilst encouraging private investment in the projects. The EFSI should not be a substitute for private market finance but should instead catalyse private finance by addressing market failures so as to ensure the most effective and strategic use of public money. The requirement for consistency with State aid principles should contribute to such effective and strategic use.
Amendment 268 #
Proposal for a regulation
Article 9 – paragraph 1
Article 9 – paragraph 1
1. The Commission and the EIB, with support from the Member States, shall promote the creation of a transparent pipeline of current and potential future investment projects, which are environmentally sound and socially acceptable, in the Union. The pipeline is without prejudice to the final projects selected for support according to Article 3(5).
Amendment 272 #
Proposal for a regulation
Article 9 – paragraph 2
Article 9 – paragraph 2
2. The Commission and the EIB shall develop, update and disseminate, on a regular and structured basis, information on current and future investments, which are environmentally sound and socially acceptable, and significantly contribute to achieving EU policy objectives.
Amendment 296 #
Proposal for a regulation
Recital 15
Recital 15
(15) The EFSI should target projects with a higher risk-return profile than existing EIB and Union instruments to ensure additionality over existing operations. The EFSI should finance projects across the Union, including in the countries most affected by the financial crisis, as well as in the many disadvantaged rural areas of Europe. The EFSI should only be used where financing is not available from other sources on reasonable terms.
Amendment 396 #
Proposal for a regulation
Recital 21
Recital 21
(21) Provided that all relevant eligibility criteria are fulfilled, Member States may use European Structural Investment Funds to contribute to the financing of eligible projects that are supported by the EU guarantee. Use should also be made of the CAP second-pillar policy instruments which have already generated particular added value in many parts of the European Union. The flexibility of this approach should maximise the potential to attract investors to the areas of investment targeted by the EFSI.
Amendment 408 #
Proposal for a regulation
Recital 22
Recital 22
(22) In accordance with the Treaty on the Functioning of the European Union, Iinfrastructure, research and project investments supported under EFSI should be consistent with State aid rules. To that end, the Commission has announced that it will formulate a set of core principles, for the purpose of State aid assessments, which a project will have to meet to be eligible for support under the EFSI. If a project meets these criteria and receives support from the EFSI, the Commission has announced that any national complementary support, will be assessed under a simplified and accelerated State aid assessment whereby the only additional issue to be verified by the Commission will be the proportionality of public support (absence of overcompensation). The Commission has also announced that it will provide further guidance on the set of core principles with a view to ensuring an efficient use of public funds.
Amendment 447 #
Proposal for a regulation
Recital 26
Recital 26
(26) Alongside the financing operations that will be conducted through the EFSI, a European Investment Advisory Hub ('EIAH') should be created. The EIAH should provide strengthened support for project development and preparation across the Union, by building on the expertise of the Commission, the EIB, national promotional banks and the managing authorities of the European Structural, agricultural and Investment Funds. This should establish a single point of entry for questions related to technical assistance for investments within the Union.
Amendment 572 #
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 Union and to ensure increased access to financing for companies having up to 3000 employees, with a particular focus on small and medium-sized enterprises, through the supply of risk bearing capacity to the EIB, with businesses in rural areas and in structurally weak and disadvantaged areas also being taken into account ('EFSI Agreement').
Amendment 699 #
Proposal for a regulation
Article 2 – paragraph 2 – subparagraph 1
Article 2 – paragraph 2 – subparagraph 1
The EFSI Agreement shall provide for the creation of a European Investment Advisory Hub ('EIAH') within the EIB without, however, creating additional red tape or new control systems. The EIAH shall have as its objective to build upon existing EIB and Commission advisory services in order to provide advisory support for investment project identification, preparation and development and act as a single technical advisory hub for project financing within the Union. This shall include support on the use of technical assistance for project structuring, use of innovative financial instruments, use of public-private partnerships and advice, as appropriate, on relevant issues of EU legislation.
Amendment 715 #
Proposal for a regulation
Article 2 – paragraph 2 – subparagraph 2
Article 2 – paragraph 2 – subparagraph 2
To meet that objective, the EIAH shall use the expertise of the EIB, the Commission, national promotional banks and the managing authorities of the European Structural, agricultural and Investment Funds.
Amendment 995 #
Proposal for a regulation
Article 5 – paragraph 2 – subparagraph 1 – point d
Article 5 – paragraph 2 – subparagraph 1 – point d
(d) infrastructure projects in the environmental, agricultural, natural resources, urban development and social fields;