Activities of Crescenzio RIVELLINI related to 2011/0283(COD)
Plenary speeches (1)
Risk sharing instruments for Member States experiencing or threatened with serious difficulties with respect to their financial stability (debate)
Amendments (2)
Amendment 21 #
Proposal for a regulation – amending act
Recital 13
Recital 13
(13) In order to alleviate those problems and to speed up the implementation of the operational programmes and projects, as well as to strengthen the economic recovery, it is appropriate that the managing authorities of the Member States having experienced serious difficulties with respect to financial stability and which have been granted financial assistance according to one of the financial assistance mechanisms set out aboveall Member States may contribute financial resources from operational programmes to the establishment of risk sharing instruments providing loans or guarantees or other financial facilities, in support of projects and operations foreseen under an operational programme. In addition, infrastructure and SME projects relevant in the context of economic recovery and job creation in the Member States concerned can also be supported.
Amendment 31 #
(2) In Article 36, the following paragraph 2a is inserted: "2a. Member States meeting one of the conditions set out in Article 77(2), may contribute a part of the financial allocations indicated in Article 19 and Article 20 to a risk -sharing instrument, to be established by the Commission in agreement with the European Investment Bank, or in agreement with national or international public sector bodies or bodies governed by private law with a public service mission providing adequate guarantees as referred to in Article 54(2)(c) of Regulation (EC, Euratom) No 1605/2002, under similar terms and conditions to those applied to and by the European Investment Bank, to cover the provisioning and capital allocation of guarantees and loans, as well as other financial facilities, granted under the risk -sharing instrument. Such risk -sharing instruments shall be used exclusively for loans and guarantees, as well as other financial facilities, to finance operations co-financed by the European Regional Development Fund or the Cohesion Fund, regarding expenditure which is not covered by Article 56or infrastructure and SME projects relevant in the context of economic recovery and job creation in the Member States concerned. The risk -sharing instrument shall be implemented by the Commission within the framework of indirect centralised management in accordance with Article 54(2) of Regulation (EC, Euratom) No 1605/2002. Payments to the risk -sharing instrument shall be made in tranches, in accordance with the scheduled use of the risk -sharing instrument in providing loans and guarantees financing specific operations. TAt the request of the Member State concerned shall address a request to, the Commission who shall adopt a decision, in accordance with the request of the Member State concerned, by means of an implementing act, describing the system established to guarantee that the amount available is used for the exclusive benefit of the Member State which provided it within its cohesion policy financial allocation pursuant to Article 18(2), as well as the terms and conditions applicable to such risk sharing instrument. These terms and conditions shall at least address the following: (a) traceability and accounting, information on the use of the funds and monitoring and control systems; and (b) structure of the fees and other administrative and management costs. The financial allocations to the risk-sharing instrument shall be strictly capped and shall not create contingent liabilities for the Union budget or the Member State concerned. Any amount left-over after the completion of an operation covered by the risk sharing instrument may be reused, at the request of the Member Sate concerned, within the risk-sharing instrument, if the Member State still meets one of the conditions set out as specified in Article 77(2). If the Member State no longer meets those conditions, the amount left-over sha until the end of the 2007-2013 programming period or will be considered as assigned revenue within the meaning of Article 18 of the Financial Regulation. At the request of the Member State concerned, additional commitment appropriations generated by this assigned revenue shall be added the following year to the cohesion policy financial allocation of the Member State concerned."