Activities of Eider GARDIAZABAL RUBIAL related to 2020/0108(COD)
Plenary speeches (1)
InvestEU programme (debate)
Shadow reports (1)
REPORT on the proposal for a regulation of the European Parliament and of the Council establishing the InvestEU Programme
Amendments (26)
Amendment 194 #
Proposal for a regulation
Recital 30
Recital 30
(30) TAs proposed in the European Green Deal1a and the European Green Deal Investment Plan1b, a Just Transition Mechanism should be established in order to address the social, economic and environmental consequences of reaching EU's 2030 climate target and the Union's climate neutrality by 2050. This mechanism, composed of three pillars; a Just Transition Fund (pillar 1), a dedicated Just Transition Scheme under InvestEU (pillar 2) and a Public Sector Loan Facility (pillar 3), should focus on the regions that are most affected by the green transition and have less capacity to finance the necessary investments. As such, the InvestEU should also provide support to financing to generate investment to the benefit of just transition regions. _________________ 1a COM(2019)640 final 1b COM(2020)21
Amendment 202 #
Proposal for a regulation
Recital 30 a (new)
Recital 30 a (new)
(30 a) To implement the second pillar under the Just Transition Mechanism, a dedicated Just Transition Scheme under InvestEU should be established horizontally across all policy windows. This scheme shall provide funding to additional investment needs to support the regions identified in the territorial just transitions plans, prepared in accordance with Article [7] of Regulation [JTF Regulation] and approved by the Commission.
Amendment 204 #
Proposal for a regulation
Recital 31
Recital 31
(31) Each policy window should be composed of two compartments, that is to say an EU compartment and a Member State compartment. The EU compartment should address Union-wide or Member State specific market failures or sub- optimal investment situations in a proportionate manner. Operations supported should have a clear Union added value. The Member State compartment should give Member States as well as regional authorities via their Member State the possibility of contributing a share of their resources from the funds under shared management to the provisioning for the EU guarantee and of using the EU guarantee for financing or investment operations in order to address specific market failures or sub-optimal investment situations in their own territories, including in vulnerable and remote areas such as the outermost regions of the Union, as to be set out in the contribution agreement, in order to achieve objectives of the funds under shared management. . In addition, the recovery and resilience plans under the Recovery and Resilience Facility may include additional contributions to the Member States compartment Operations supported by the InvestEU Fund through either EU or Member State compartments should not duplicate or crowd out private financing or distort competition in the internal market.
Amendment 205 #
Proposal for a regulation
Recital 32
Recital 32
(32) The Member State compartment should be specifically designed to allow the use of funds under shared management or additional contributions from recovery and resilience plans under the Recovery and Resilience Facility to provision a guarantee issued by the Union. That possibility would increase the value added of the EU guarantee by providing support under it to a wider range of financial recipients and projects and diversifying the means of achieving the objectives of the funds under shared management, while ensuring a consistent risk management of the contingent liabilities by implementing the EU guarantee under indirect management. The Union should guarantee the financing and investment operations provided for in the guarantee agreements concluded between the Commission and implementing partners under the Member State compartment. The funds under shared management should provide the provisioning for the guarantee, following a provisioning rate determined by the Commission and set out in the contribution agreement concluded with the Member State, based on the nature of the operations and the resulting expected losses. The Member State would assume losses above the expected losses by issuing a back-to- back guarantee in favour of the Union. Such arrangements should be concluded in a single contribution agreement with each Member State that voluntarily chooses such option. The contribution agreement should encompass the one or more specific guarantee agreements to be implemented within the Member State concerned on the basis of the rules of the InvestEU Fund, and any regional ring-fencing. The setting out of the provisioning rate on a case-by- case basis requires a derogation from Article 211(1) of Regulation (EU, Euratom) No 2018/1046 of the European Parliament and of the Council30 (the Financial Regulation). This set-up provides also a single set of rules for budgetary guarantees supported by funds that are managed centrally or by funds under shared managementadditional contributions from recovery and resilience plans under the Recovery and Resilience Facility, which would facilitate their combination. _________________ 30Regulation (EU, Euratom) 2018/1046 of the European Parliament and of the Council of 18 July 2018 on the financial rules applicable to the general budget of the Union, amending Regulations (EU) No 1296/2013, (EU) No 1301/2013, (EU) No 1303/2013, (EU) No 1304/2013, (EU) No 1309/2013, (EU) No 1316/2013, (EU) No 223/2014, (EU) No 283/2014, and Decision No 541/2014/EU and repealing Regulation (EU, Euratom) No 966/2012 (OJ L 193, 30.7.2018, p. 1).
Amendment 260 #
Proposal for a regulation
Article 2 – paragraph 1 – point 28 a (new)
Article 2 – paragraph 1 – point 28 a (new)
(28 a) ‘companies’ means for the purposes of the solvency support window companies, project companies, public- private partnerships and other legal structures.
Amendment 293 #
Proposal for a regulation
Article 3 – paragraph 2 – point e a (new)
Article 3 – paragraph 2 – point e a (new)
(e a) to support the solvency of companies established in a Member State and operating in the Union supporting any of the objectives referred to in this paragraph.
Amendment 295 #
Proposal for a regulation
Article 3 – paragraph 2 a (new)
Article 3 – paragraph 2 a (new)
2 a. While recognising the demand- driven nature of the InvestEU, the EIB shall: (a) target that at least 40 % of InvestEU financing under the infrastructure and innovation window support project components that contribute to climate action, in line with the commitments made at the 21st Conference of the Parties to the United Nations Framework Convention on Climate Change (COP21).InvestEU financing for SMEs and small mid- cap companies shall not be included in that computation.The EIB shall use its internationally agreed methodology to identify those climate action project components or cost shares; (b) ensure that the majority of InvestEU financing under the solvency support window is utilised to support eligible companies in Member States and sectors economically most hit by the Covid-19 pandemic; (c) ensure that the majority of InvestEU financing under the solvency support window is utilised to support eligible companies in Member States where the availability of State solvency support is more limited. The Steering Board shall, where necessary, provide detailed guidance concerning points (a) to (c).
Amendment 300 #
Proposal for a regulation
Article 4 – paragraph 1 – introductory part
Article 4 – paragraph 1 – introductory part
1. The EU guarantee for the purposes of the EU compartment referred to in point (a) of Article 8(1) shall be EUR 785 153 85423 310 000 (current prices). It shall be provisioned at the rate of 45 35%. The amount referred to in point (a) of the first subparagraph of Article 34(3) shall be also taken into account for contributing to the provisioning resulting from this provisioning rate.
Amendment 301 #
Proposal for a regulation
Article 4 – paragraph 1 – subparagraph 1
Article 4 – paragraph 1 – subparagraph 1
An additional amount of the EU guarantee may be provided for the purposes of the Member State compartment referred to in point (b) of Article 8(1), subject to the allocation by Member States, pursuant to [Article 10(1)] of Regulation [[CPR] number]44 and Article [75(1)] of Regulation [[CAP Strategic Plan] number]45 and in accordance with the implementation of the relevant measures in recovery and resilience plans under Regulation [Recovery and Resilience Facility ] , of the corresponding amounts. _________________ 44 45null null
Amendment 324 #
Proposal for a regulation
Article 7 – paragraph 1 – introductory part
Article 7 – paragraph 1 – introductory part
1. The InvestEU Fund shall operate through the following fivesix policy windows that shall address market failures or sub- optimal investment situations within their specific scope:
Amendment 386 #
Proposal for a regulation
Article 7 – paragraph 1 – point e a (new)
Article 7 – paragraph 1 – point e a (new)
Amendment 388 #
Proposal for a regulation
Article 7 – paragraph 1 a (new)
Article 7 – paragraph 1 a (new)
1 a. A Just Transition Scheme, the second pillar of the Just Transition Mechanism, shall be established horizontally across all policy windows. This scheme shall comprise investments which address social, economic and environmental challenges deriving from the transition process towards the achievement of the EU's 2030 climate target and the Union's climate neutrality by 2050.
Amendment 389 #
Proposal for a regulation
Article 7 – paragraph 1 b (new)
Article 7 – paragraph 1 b (new)
1 b. To this end the Commission shall update the InvestEU investment guidelines laying down the requirements for investment operations supported through the InvestEU Fund to included a section on the InvestEU Just Transition Scheme and its implementation modalities.
Amendment 427 #
Proposal for a regulation
Article 7 – paragraph 7
Article 7 – paragraph 7
7. The Commission is empowered to adopt delegated acts in accordance with Article 33 in order to supplement this Regulation by defining the investment guidelines for each of the policy windows. including the Just Transition Scheme. The investment guidelines shall be prepared in close dialogue with the EIB Group and other potential implementing partners.
Amendment 429 #
Proposal for a regulation
Article 9 – paragraph 1 – introductory part
Article 9 – paragraph 1 – introductory part
1. Amounts allocated by a Member State on a voluntary basis under Article [10(1)] of Regulation [[CPR] number] or Article [75(1)] of Regulation [[CAP Strategic Plan] number] or in accordance with the implementation of the relevant measures in recovery and resilience plans under Regulation [Recovery and Resilience Facility] shall be used for the provisioning for the part of the EU guarantee under the Member State compartment covering financing and investment operations in the Member State concerned or for the possible contribution from funds under shared management or from additional contributions in accordance with the implementation of the relevant measures in recovery and resilience plans under the Recovery Resilience Facility to the InvestEU Advisory Hub. Those amounts shall be used to contribute to the achievement of the policy objectives specified in the Partnership Agreement referred to in Article 7 of Regulation [[CPR] number], in the programmes or in the CAP Strategic Plan which contribute to InvestEU.
Amendment 434 #
Proposal for a regulation
Article 12 – paragraph 2 – subparagraph 1 – point b a (new)
Article 12 – paragraph 2 – subparagraph 1 – point b a (new)
(b a) for the solvency support window;
Amendment 442 #
Proposal for a regulation
Article 13 – paragraph 2 – introductory part
Article 13 – paragraph 2 – introductory part
2. In addition to projects situated in the Union, or in an overseas country or territory linked to a Member State as set out in Annex II to the TFEU, the InvestEU Fund may support the following projects and operations through financing and investment operations under other windows than the strategic European investment window or the Solvency Support Instrument :
Amendment 451 #
Proposal for a regulation
Article 13 – paragraph 3 – subparagraph 1 a (new)
Article 13 – paragraph 3 – subparagraph 1 a (new)
Notwithstanding the second and third paragraphs, only companies established in a Member State and operating in the Union can be supported by the financing and investment operations under the solvency support window.
Amendment 454 #
Proposal for a regulation
Article 15 – paragraph 2 a (new)
Article 15 – paragraph 2 a (new)
2 a. The eligible instruments under the solvency support window shall result in providing equity or quasi-equity to companies referred to in Article 3.2(f).
Amendment 455 #
Proposal for a regulation
Article 15 – paragraph 2 b (new)
Article 15 – paragraph 2 b (new)
2 b. The intermediaries under the solvency support window shall be established in a Member State and operate in the Union. The Steering Board shall set any necessary requirements relating to the control of intermediaries (funds, special purpose vehicles and others) in the light of any applicable public order or security considerations.
Amendment 467 #
Proposal for a regulation
Article 20 – paragraph 3 – point f a (new)
Article 20 – paragraph 3 – point f a (new)
(f a) determine the guidance referred to in Section 6 point d of Annex I.
Amendment 487 #
Proposal for a regulation
Article 24 – paragraph 2 – point i a (new)
Article 24 – paragraph 2 – point i a (new)
(i a) providing support to financing and investment operations under the solvency support window.
Amendment 489 #
Proposal for a regulation
Article 24 a (new)
Article 24 a (new)
Article 24 a Financing of advisory services and technical assistance An amount of up to EUR 100 000 000 shall be made available for covering costs, advisory services and technical and administrative assistance to set-up and manage funds, special purpose vehicles, investment platforms and other vehicles for the purposes of the solvency support window including for support referred to in point (i) of Article 14(2) and having a special focus on Member States with less developed equity markets. The technical assistance shall also be available to support the green and digital transformation of companies financed under this window. The Commission shall implement this amount under direct or indirect management as referred to in points (a) and (c) of Article62(1) of the Financial Regulation. An amount of EUR 80 000 000 out of the amount referred to in the first subparagraph shall constitute an external assigned revenue in accordance with Article 21(5) of the Financial Regulation and shall be subject to Article 4(4) and (8) of the [EURI] Regulation.
Amendment 497 #
Proposal for a regulation
Article 27 – paragraph 5 – indent 1 (new)
Article 27 – paragraph 5 – indent 1 (new)
- Operations under the solvency support window shall be reported on separately, as appropriate and as set out in the guarantee agreement.
Amendment 524 #
(e a) up to EUR 4 900 000 000 for objectives referred to in point(e) of Article 3(2).
Amendment 576 #
Proposal for a regulation
Annex V – part 1 – paragraph 2 – point 2 – paragraph 2 – point f a (new)
Annex V – part 1 – paragraph 2 – point 2 – paragraph 2 – point f a (new)
(f a) support to funds, special purpose vehicles, investment platforms or other arrangements under the solvency support window.