Awaiting Parliament 1st reading / single reading / budget 1st stage
Next event: Vote in committee, 1st reading/single reading 2012/09/26
Role | Committee | Rapporteur | Shadows |
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Lead | CONT | RIVELLINI Crescenzio (EPP) | STAVRAKAKIS Georgios (S&D), STAES Bart (Verts/ALE), CZARNECKI Ryszard (NI), SØNDERGAARD Søren Bo (GUE/NGL), ANDREASEN Marta (EFD), EHRENHAUSER Martin (NI) |
Opinion | ECON | ||
Opinion | ITRE | ||
Opinion | REGI | KLEVA Mojca (S&D) |
Legal Basis RoP 076
Activites
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2012/09/26
Vote in committee, 1st reading/single reading
- 2012/06/11 Amendments tabled in committee
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2012/06/04
Deadline Amendments
- 2012/05/07 Committee draft report
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2012/04/18
Committee referral announced in Parliament, 1st reading/single reading
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2012/03/27
Non-legislative basic document
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N7-0052/2012
summary
PURPOSE: to present the Special report of the European Court of Auditors (No 2/2012) on the efficiency of financial instrument for SMEs co-financed by the European Regional Development Fund. CONTENT: the European Court of Auditors (ECA) concludes in its special report (No. 2/2012) that the effectiveness and efficiency of the European Regional Development Fund (ERDF) spending on financial instruments for small and medium enterprises (SMEs) were hampered by the regulatory framework being inappropriate for the different types of financial instruments used. There were widespread delays in the funds reaching the recipient SMEs and the supported actions were ineffective in leveraging in private investment. SME financing gap assessments, when prepared, suffered from significant shortcomings. In addition, some recipient SMEs were charged unjustified management fees by the financial intermediaries used. The ECA's performance audit shows that the Structural Funds regulatory framework used for this SME support through financial instruments was originally designed for grant spending, and thus unfit to take into account the specific characteristics of the debt and equity instruments used. There were weaknesses in: the provisions for leveraging and 'recycling' the funds, the justification for amounts allocated to financial engineering measures, the conditions to justify the recourse to preferential private sector treatment, and the eligibility conditions for working capital. Court recommendations: the ECA makes a number of recommendations to the Commission to improve the regulatory framework for these instruments, as well as for managing efficiency and effectiveness. These include: ensuring that Member State proposals are justified by gap assessments of sufficient quality to be used when approving the measures; providing a reliable and technically robust monitoring and evaluation system; exploring the possibility of supplying Member States with simplified and tested structures and instruments to speed up implementation and reduce management costs; defining and setting minimum requirements for leverage and 'recycling' of funds. If these recommendations cannot be implemented under the Cohesion policy framework then the special report concludes that consideration should be given to finding more effective ways of providing this type of support to small and medium sized enterprises.
- DG {'url': 'http://ec.europa.eu/dgs/regional_policy/index_en.htm', 'title': 'Regional Policy'}, HAHN Johannes
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N7-0052/2012
summary
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2012/03/27
Date
Documents
Amendments | Dossier |
17 |
2012/2060(DEC)
2012/06/11
CONT
17 amendments...
Amendment 1 #
Motion for a resolution Citation 4 a (new) - having regard to the opinion No 7/2011 of the Court of Auditors on the proposal for a Regulation of the European Parliament and of the Council laying down common provisions on the European Regional Development Fund, the European Social Fund, the Cohesion Fund, the European Agricultural Fund for Rural Development and the European Maritime and Fisheries Fund covered by the Common Strategic Framework and laying down general provisions on the European Regional Development Fund, the European Social Fund and the Cohesion Fund and repealing Regulation (EC) No 1083/20061, ________________ 1 OJ C 47, 17.2.2012, p. 1.
Amendment 10 #
Motion for a resolution Paragraph 13 13.
Amendment 11 #
Motion for a resolution Paragraph 14 14. Deplores that, in some cases,
Amendment 12 #
Motion for a resolution Paragraph 20 a (new) 20a. Is worried about the lack of information in the Member States on access for SMEs to sources of finance; supports the recommendation by the Court of Auditors that, in order to optimise the size of the supply of SME finance, it is necessary to raise as much as possible the stakeholders’ awareness of the specific SME financing needs.
Amendment 13 #
Motion for a resolution Paragraph 21 a (new) 21a. Believes that matters to be covered by delegated acts, which are meant to cover non-essential elements of Union legislation, should not deal in reality with key elements of the future Cohesion scheme1; ________________ 1 Such as the adoption of a Common Strategic Framework; the adoption of detailed rules on financial instruments; the responsibilities of Member States concerning the procedure for reporting irregularities and recovery of sums unduly paid; the conditions of national audits; the accreditation criteria for managing authorities and certifying authorities;
Amendment 14 #
Motion for a resolution Paragraph 22 22. Strongly recommends that the
Amendment 15 #
Motion for a resolution Paragraph 24 24. Shares the opinion that the Commission should explore the possibility of supplying to the Member States off-the-shelf financial engineering structures and instruments for SMEs (e.g. grants with royalties, dedicated investment vehicles) only where these would result in speeding up implementation and in reducing management costs, though in such a way that this precondition does not excessively impair SMEs’ opportunities of making use of those funding schemes; stresses the importance of ensuring that financial engineering continues to remain flexible in order to adapt to both regional disparities and market changes;
Amendment 16 #
Motion for a resolution Paragraph 26 26. Takes the view that the Commission should propose a common definition of multiplier effect, standard concepts of
Amendment 17 #
Motion for a resolution Paragraph 27 27. Asks the
Amendment 2 #
Motion for a resolution Paragraph 2 2. Underlines that small and medium-sized enterprises (SMEs) are the backbone of the Union economy, generating employment, innovation and wealth; notes however that SMEs
Amendment 3 #
Motion for a resolution Paragraph 2 a (new) 2a. Urges the Commission to submit an integrated, clarifying proposal as soon as possible on the problems caused by the current range of definitions of SMEs, which vary in the EU according to the different purposes or objectives, and to propose possible ways of remedying the situation;
Amendment 4 #
Motion for a resolution Paragraph 3 Amendment 5 #
Motion for a resolution Paragraph 4 a (new) 4a. Stresses the importance of simplifying administrative procedures as regards access to financing and of reducing co- financing requirements;
Amendment 6 #
Motion for a resolution Paragraph 8 – indent 1 – the SME financing gap assessments, if available, suffered from significant shortcomings and such gap assessments were not systematically made public;
Amendment 7 #
Motion for a resolution Paragraph 9 9. Notes with concern that the previous annual implementation reports, monitoring committees and operational program indicators have been considered as inadequate or inappropriate to the targets and purposes of financial instruments; welcomes the developments in the reporting and monitoring activity registered with JEREM
Amendment 8 #
Motion for a resolution Paragraph 10 a (new) 10a. Recognizes the potential of innovative financial engineering instruments to build up capital and enhancing investments, as opposed to grants consistently perceived to be excessively cumbersome and bureaucratic by their beneficiaries; underlines that financial engineering instruments could play an important role in achieving the Europe 2020 Strategy's objectives by attracting funding from other investors in areas of strong Union's interest;
Amendment 9 #
Motion for a resolution Paragraph 12 12.
source: PE-491.184
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History
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PURPOSE: to present the Special report of the European Court of Auditors (No 2/2012) on the efficiency of financial instrument for SMEs co-financed by the European Regional Development Fund. CONTENT: the European Court of Auditors (ECA) concludes in its special report (No. 2/2012) that the effectiveness and efficiency of the European Regional Development Fund (ERDF) spending on financial instruments for small and medium enterprises (SMEs) were hampered by the regulatory framework being inappropriate for the different types of financial instruments used. There were widespread delays in the funds reaching the recipient SMEs and the supported actions were ineffective in leveraging in private investment. SME financing gap assessments, when prepared, suffered from significant shortcomings. In addition, some recipient SMEs were charged unjustified management fees by the financial intermediaries used. The ECAs performance audit shows that the Structural Funds regulatory framework used for this SME support through financial instruments was originally designed for grant spending, and thus unfit to take into account the specific characteristics of the debt and equity instruments used. There were weaknesses in:
Court recommendations: the ECA makes a number of recommendations to the Commission to improve the regulatory framework for these instruments, as well as for managing efficiency and effectiveness. These include:
If these recommendations cannot be implemented under the Cohesion policy framework then the special report concludes that consideration should be given to finding more effective ways of providing this type of support to small and medium sized enterprises. New
PURPOSE: to present the Special report of the European Court of Auditors (No 2/2012) on the efficiency of financial instrument for SMEs co-financed by the European Regional Development Fund. CONTENT: the European Court of Auditors (ECA) concludes in its special report (No. 2/2012) that the effectiveness and efficiency of the European Regional Development Fund (ERDF) spending on financial instruments for small and medium enterprises (SMEs) were hampered by the regulatory framework being inappropriate for the different types of financial instruments used. There were widespread delays in the funds reaching the recipient SMEs and the supported actions were ineffective in leveraging in private investment. SME financing gap assessments, when prepared, suffered from significant shortcomings. In addition, some recipient SMEs were charged unjustified management fees by the financial intermediaries used. The ECA's performance audit shows that the Structural Funds regulatory framework used for this SME support through financial instruments was originally designed for grant spending, and thus unfit to take into account the specific characteristics of the debt and equity instruments used. There were weaknesses in:
Court recommendations: the ECA makes a number of recommendations to the Commission to improve the regulatory framework for these instruments, as well as for managing efficiency and effectiveness. These include:
If these recommendations cannot be implemented under the Cohesion policy framework then the special report concludes that consideration should be given to finding more effective ways of providing this type of support to small and medium sized enterprises. |
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