Activites

• 1998/02/05 End of procedure in Parliament
• 1996/11/13 Decision by Parliament, 1st reading/single reading
  • T4-0590/1996 summary

    In adopting the report by Mr Wilfried KUCKELCORN (PSE, D), Parliament fully supported the Commission proposal, which provides for linking the level of guarantees in relation to the size of loans to the creation of jobs in the SMEs. However, the EP asked the Commission to improve its proposal. It called for an increase in the cover rate: whereas the Commission envisaged 50%, Parliament considered that the cover rate should reach up to 75% of the size of the loans in all duly substantiated cases, and notably in the case of innovative investments and/or those relating to environmental protection, and/or investments by small enterprises. In addition, the EP hoped that at least 90% of the guarantees issued would be made available to small enterprises. �

• 1996/11/12 Debate in Parliament
• #1960
• 1996/11/11 Council Meeting
• 1996/10/10 Vote in committee, 1st reading/single reading
  • A4-0318/1996
• 1996/06/06 Committee referral announced in Parliament, 1st reading/single reading
• 1996/04/10 Legislative proposal published
  • COM(1996)0155 summary

    - OBJECTIVE: Implementation of ELISE (European Loan Insurance Scheme for Employment) to provide loan guarantees for investments carried out by SMEs creating employment. -SUBSTANCE: . the benefit of the loan guarantee scheme will be restricted to SMEs, and particularly to small enterprises, while only investment projects involving the creation of employment will be eligible. The guarantees provided by the European Investment Fund (EIF) will in general cover 50% of the amount of the loan, while transnational investments (such as the creation of a production, research or distribution facility in another Member State, or the creation of a joint venture) will enjoy priority access to the scheme and benefit from guarantee cover up to 75% of the loan size. . The scheme will be implemented by the EIF, while the loans will be extended by a network of financial institutions throughout the European Union. The detailed terms and conditions applying to this new scheme will be set out in a cooperation agreement to be signed between the Commission and the EIF. Essentially, the Commission and the fund will ensure that the network of institutions is sufficiently broad to ensure that the scheme operates on a fully competitive basis in the interests of SMEs. This network will primarily consist of banks operating as intermediaries in the framework of the EIB's global lending programme. (i.e. financial institutions with particular experience in the area of loans to SMEs and institutions with qualifications in the area of guarantees). . The scheme will run initially for a period of two years and will be financed entirely by ECU 25 m entered in the 1996 budget on the 'employment and growth for Europe' budget line (B5-322). This will allow for EIF guarantees covering a total loan portfolio of ECU 1 thousand million. The budgetary appropriations destined to cover the cost of the guarantee premiums will be transferred directly to the fund and into a special Community account. Neither the financial intermediaries nor the final beneficiaries will therefore receive Community funds directly. . The Commission shall submit a report on the implementation of ELISE to the European Parliament and the Council. It will provide an overall evaluation of the functioning and impact of the scheme within 18 months from the date of its adoption. This will allow a decision to be taken on a new proposal aiming to extend the scheme. �

Documents

• Legislative proposal published: COM(1996)0155
• Committee report tabled for plenary, 1st reading/single reading: A4-0318/1996
• Decision by Parliament, 1st reading/single reading: T4-0590/1996

History

(these mark the time of scraping, not the official date of the change)