Progress: Procedure completed
Role | Committee | Rapporteur | Shadows |
---|---|---|---|
Joint Responsible Committee | ['BUDG', 'ECON'] | FERNANDES José Manuel ( PPE), BULLMANN Udo ( S&D) | KARAS Othmar ( PPE), GARDIAZABAL RUBIAL Eider ( S&D), KÖLMEL Bernd ( ECR), LOONES Sander ( ECR), TORVALDS Nils ( ALDE), TREMOSA I BALCELLS Ramon ( ALDE), EICKHOUT Bas ( Verts/ALE), SOLÉ Jordi ( Verts/ALE), VALLI Marco ( EFDD), KAPPEL Barbara ( ENF), ZANNI Marco ( ENF) |
Committee Opinion | AGRI | ||
Committee Opinion | ENVI | ||
Committee Opinion | EMPL | HETMAN Krzysztof ( PPE) | Enrique CALVET CHAMBON ( ALDE), Paloma LÓPEZ BERMEJO ( GUE/NGL), Dominique MARTIN ( ENF), Ulrike TREBESIUS ( ECR) |
Committee Opinion | CONT | TAKKULA Hannu ( ALDE) | Georgi PIRINSKI ( S&D), Marco VALLI ( EFDD) |
Committee Opinion | TRAN | AYALA SENDER Inés ( S&D) | Tania GONZÁLEZ PEÑAS ( GUE/NGL) |
Committee Opinion | REGI | BRESSO Mercedes ( S&D) | |
Committee Opinion | ITRE | KAILI Eva ( S&D) | Xabier BENITO ZILUAGA ( GUE/NGL), Claude TURMES ( Verts/ALE) |
Lead committee dossier:
Legal Basis:
RoP 58, TFEU 172, TFEU 173-p3, TFEU 175-p3, TFEU 182-p1
Legal Basis:
RoP 58, TFEU 172, TFEU 173-p3, TFEU 175-p3, TFEU 182-p1Subjects
Events
PURPOSE: to extend the duration of the European Fund for Strategic Investments and introduce technical enhancements for that Fund and the European Investment Advisory Hub (EIAH).
LEGISLATIVE ACT: Regulation (EU) 2017/2396 of the European Parliament and of the Council amending Regulations (EU) No 1316/2013 and (EU) 2015/1017 as regards the extension of the duration of the European Fund for Strategic Investments as well as the introduction of technical enhancements for that Fund and the European Investment Advisory Hub (EIAH).
CONTENT: the European Fund for Strategic Investments (EFSI) is the flagship initiative of the Investment Plan for Europe set up by the European Union. The EFSI was created for an initial period of three years with the aim of mobilising at least EUR 315 billion in investments , thus supporting the objective of promoting growth and jobs.
The EFSI, which is being implemented and co-sponsored by the European Investment Bank (EIB) Group , is on track to achieve its goal. In order to keep up the positive momentum launched by the investment plan, this Regulation amends Regulation (EU) 2015/1017 in order to:
extend the life of the EFSI until the end of the current multiannual financial framework to enable the mobilisation of at least EUR 500 billion of private and public investment by 2020; increase the EU guarantee to EUR 26 billion (of which EUR 16 billion will be available for guarantee calls prior to 6 July 2018); increase the EIB's contribution to EUR 7.5 billion for the full investment period; adjust the target rate of the EU guarantee fund to 35% of the total EU guarantee obligation, thus providing an adequate level of protection; provide for a transfer from the envelope allocated to the Connecting Europe Facility (CEF) provided for in Regulation (EU) No 1316/2013 , as well as from the receipts and repayments under the CEF's lending instrument and the 2020 European Fund for Energy, Climate Change and Infrastructure to partially finance the contribution from the EU's general budget to the EU Guarantee Fund for additional investments.
The Regulation also provides for a number of technical adjustments developed in the light of lessons learned from its implementation:
Enhanced additionality: this is defined as EFSI support for operations that address market failures or non-optimal investment situations that could not have been achieved (or not at the same scale) by the European Investment Bank (EIB), the European Investment Fund (EIF) or the EU’s existing financial instruments, without the support of the EFSI. Governance of the EFSI: the Steering Committee will consist of five members : three appointed by the Commission, one by the EIB and one expert appointed by the European Parliament who would be a non-voting member. The steering committee will take the utmost account of the positions of all its members and, in the event of differences, decisions will be taken unanimously by the voting members. Decisions approving the use of the EU guarantee will be made public and accessible. Addition of new sectors: the operations concerned will have to be compatible with EU policies and also support:
- railway infrastructure, other rail projects and seaports;
- blockchain technology;
- the Internet of Things;
- cybersecurity and network protection infrastructures;
- the cultural and creative industries, for which the sector-specific financial mechanisms are to be authorised in interaction with the "Creative Europe" programme;
- sustainable agriculture, forestry, fisheries, aquaculture and other aspects of the broader bioeconomy.
The EIB should aim to ensure that at least 40% of EFSI funding , under the Infrastructure and Innovation strand, supports project components that contribute to climate action , in line with the commitments made at the 21st session of the Conference of the Parties to the United Nations Framework Convention on Climate Change (COP21).
It is also planned to give a larger share of funding to SMEs .
European Investment Advisory Hub (EIAH): EFSI will provide more targeted support to Member States facing difficulties in developing projects. The EIAH will in particular:
contribute to the sectoral and geographical diversification of the EFSI; assist the EIB and national development banks or institutions in initiating operations, particularly in the least developed regions and in the regions in transition; be available at local level to provide assistance tailored to the needs on the ground.
ENTRY INTO FORCE: 30.12.2017.
The European Parliament adopted by 502 votes to 125, with 19 abstentions, a legislative resolution on the proposal for a regulation of the European Parliament and of the Council amending Regulations (EU) No 1316/2013 and (EU) 2015/1017 as regards the extension of the duration of the European Fund for Strategic Investments as well as the introduction of technical enhancements for that Fund and the European Investment Advisory Hub.
The European Parliament’s position adopted at first reading under the ordinary legislative procedure amended the Commission proposal as follows:
Strengthening additionality : the amended text stressed that the drive to achieve the quantitative perspective to mobilise at least EUR 315 billion in additional investment over an initial period of three years shall not prevail over the additionality of the projects selected.
‘Additionality’ shall mean support by the EFSI for operations which address market failures or sub-optimal investment situations and which could not have been carried out during the period in which the EU guarantee can be used, or not to the same extent, by the EIB, the EIF or under existing Union financial instruments, without EFSI support.
Projects supported shall strive to create employment and sustainable growth and shall typically have a higher risk profile than projects supported by normal EIB operations.
The following elements are strong indications of additionality:
projects that carry a risk corresponding to EIB special activities , as defined in Article 16 of the EIB Statute, especially if such projects present country-, sector- or region-specific risks, in particular those experienced in less developed regions and transition regions and/or if such projects present risks associated with innovation; projects that consist of physical infrastructure , including einfrastructure, linking two or more Member States or of the extension of such infrastructure or services linked to such infrastructure from one Member State to one or more Member States.
Reduce financing costs : the EIB and the Commission shall implement changes, in particular to the remuneration of the EU guarantee, to contribute to a reduction in the financing cost of the operation borne by the beneficiary of the EIB financing under EFSI so as to facilitate its implementation.
Similar efforts should be undertaken where necessary to ensure that EFSI supports small-scale projects .
Governance of EFSI : all institutions and bodies involved in EFSI governing structures shall endeavour to ensure gender balance in relevant EFSI governing bodies.
The Steering Committee shall comprise five members : three appointed by the Commission, one by the EIB and one expert appointed as a non-voting member by the European Parliament. The Steering Board shall elect a Chairperson from among its voting members for a fixed term of three years, renewable once.
The Managing Director shall exercise his or her duty of care regarding potential conflicts of interest of any member of the Investment Committee.
Twice a year, the EIB shall submit to the European Parliament, to the Council and to the Commission a list of all decisions of the Investment Committee as well as the scoreboards relating to all those decisions.
Conditions for the use of the EU guarantee : the EU guarantee shall be granted for EIB financing and investment operations approved by the Investment Committee or for funding or guarantees to the EIF in order to conduct EIB financing and investment operations. The EIB shall, where appropriate, delegate the appraisal, selection and monitoring of small-scale sub-projects to financial intermediaries or approved eligible vehicles, in particular investment platforms and national promotional banks or institutions.
The operations concerned shall be consistent with Union policies and support any of the following general objectives:
railway infrastructure, other rail projects, and maritime ports; blockchain technology; internet of things; cybersecurity and network protection infrastructures; cultural and creative industries, for which sector-specific financial mechanisms are to be authorised in interaction with the Creative Europe Programme.
The amending Regulation provides that where the EIB provides funding or guarantees to the EIF in order to conduct EIB financing and investment operations, the EU guarantee shall provide for a full guarantee on such funding or guarantees up to an initial limit of EUR 6.5 billion , provided that an amount of at least EUR 4 billion of funding or guarantees is gradually provided by the EIB without coverage by the EU guarantee.
The limit of EUR 6.5 billion could be increased by the Steering Committee to a maximum of EUR 9 billion , without an obligation on the EIB to match the amounts above EUR 4 billion.
European Investment Advisory Platform (EIAH) : in order for it to act as a single technical advisory hub for project financing within the Union, the amended text enhances the EIAH by stating that it should also:
contribute to the sectoral and geographical diversification of the EFSI; support the EIB and national development banks or institutions in originating and developing operations, in particular in less developed regions and transition regions, and, where necessary, helping to structure demand for EFSI support; endeavour to conclude at least one cooperation agreement with a national promotional bank or institution per Member State; be present at the local level to provide tailor-made assistance on the ground.
Lastly, the EIB and the EIF shall not enter into new or renewed operations with entities incorporated or established in jurisdictions listed under the relevant Union policy on non-cooperative jurisdictions , or that are identified as high-risk third countries, or that do not effectively comply with Union or internationally agreed tax standards on transparency and exchange of information.
The Committee on Budgets and the Committee on Economic and Monetary Affairs adopted the report prepared by José Manuel FERNANDES (EPP, PT) and Udo BULLMANN (S&D, DE) on the proposal for a regulation of the European Parliament and of the Council amending Regulations (EU) No 1316/2013 and (EU) 2015/1017 as regards the extension of the duration of the European Fund for Strategic Investments as well as the introduction of technical enhancements for that Fund and the European Investment Advisory Hub.
The committees recommended that the European Parliament’s position adopted at first reading, following the ordinary legislative procedure, should amend the Commission proposal as follows:
Additionality : the amended text stressed that the drive to meet the quantitative target of mobilising at least EUR 315 billion in investments over an initial period of three years should not prevail over the additionality of the projects selected.
The following elements give strong indication of additionality :
projects that carry a risk corresponding to EIB special activities, as defined in Article 16 of the EIB Statute and by the credit risk policy guidelines of the EIB, especially if such projects are located in less developed and transition regions; projects that consist of infrastructure linking two or more Member States or of the extension of infrastructure or services linked to infrastructure from one Member State to one or more Member States.
Pricing : under circumstances where tighter economic and financial market conditions would prevent the realisation of a viable project, the pricing of the guarantee shall be modulated in order to promote geographic and regional balance of EFSI-backed operations and to address market failures.
Financing : the Commission proposal stated that it is expected that when the EU guarantee is combined with the EUR 7.5 billion to be provided by the EIB, the EFSI support should generate EUR 100 billion additional investment by the EIB and EIF. The amount supported by the EFSI is expected to generate at least EUR 500 billion of additional investment in the real economy by the end of 2020.
In order to partly finance the contribution from the general budget of the Union to the EU guarantee fund for the additional investments to be made, an amount of EUR 650 000 000 from unallocated margins under the 2014-2020 multiannual financial framework ceilings shall be earmarked for that purpose. This amount is to be authorised by the European Parliament and the Council through the annual budgetary procedure.
Conditions for the use of the EU guarantee : the Investment Committee shall be able to grant an appropriate part of the EU guarantee directly to investment platforms and national promotional banks or institutions and delegate thereafter the decision on the selection of projects to those entities.
The operations concerned are compatible with the Union policies and also support:
the development of transport infrastructure and equipment and new technologies in the field of transport, in particular through rail infrastructure and other railway projects; the development and deployment of information and communication technologies, in particular through blockchain technology, internet of things, cybersecurity and network protection infrastructures; SMEs to overcome capital shortages in the sector of cultural and creative industries and target projects with a higher risk than the projects currently financed by the Creative Europe and the Guarantee Facility; sustainable agriculture, fishery, aquaculture and other bioeconomy and bioindustry sectors.
In order to achieve the Union targets set at the Paris Climate Conference (COP 21), the Steering Board should provide detailed guidance and assessment tools, in particular with regard to eligible projects.
Scoreboard : this shall be used as an independent and transparent assessment tool for the investment committee to prioritise the use of the EU guarantee for operations that display higher scores and added value. The EIB should calculate the scores and indicators ex ante and monitor the results at project completion.
European Investment Advisory Hub (EIAH) : Members stressed that the EIAH should:
address any shortcomings in the implementation of the EFSI. It should play an instrumental role in empowering project promoters to initiate and develop viable, sustainable and quality projects; supporting the preparation of projects involving two or more Member States or regions, and projects that contribute to achieving the objectives of the Europe 2020 strategy and COP21; complement the existing structures and overlaps in the services in the Member States should be avoided; ensure a strong local presence, conclude cooperation agreements with national promotional banks or institutions in each Member State, as well as facilitate Member States in the establishment of national promotional banks or institutions.
As regards post-2020, the Commission shall put forward a legislative proposal , under the new multiannual financial framework, on a comprehensive investment scheme to effectively address the lack of investment in the Union.
The Court of Auditors of the European Union presented an opinion on the Commission legislative proposal of 14 September 2016 seeking to amend the existing EFSI Regulation with a view to extending the duration of the EFSI and increasing the EU budget guarantee to the European Investment Bank (EIB).
The main observations made by the Court are as follows:
The evidence base for the proposal is limited : the Court stated that it is too soon to propose an increase in the EU budget guarantee . The Commission submitted the proposal for the extension of EFSI just 1 year after its launch. There is little evidence that the proposed increase of the EU guarantee is justified other than for the SME window.
The EIB data and estimates indicate that the current guarantee is sufficient for a further period of operation for the Infrastructure and Innovation window , in which a review of the performance and added-value of EFSI, as established by the co-legislators, could be completed. This could also help reduce the fragmentation and overlaps between EFSI and other financial instruments and allow for a better focus on EU priorities. The proposed extra period for signing operations (2 years) is not in line with the current practice
The Guarantee Evaluation do not respect the better regulation principles : the proposal was launched without a comprehensive impact assessment and too soon for the economic, social and environmental impact of EFSI to be measured and to enable a conclusion whether EFSI is achieving its objectives. None of the evaluations carried out by the Commission and the EIB assesses the outcomes and the impact of EFSI, as insufficient time has passed to allow these to be identified and/ or measured. Because of the timing there are few, if any, macroeconomic indicators available to measure the impact of EFSI.
The proposed provisioning of the Guarantee Fund is in line with the updated estimate of expected losses : the creation of the EFSI and of the Guarantee Fund with a 50 % target rate has limited the budgetary flexibility in the 2014-2020 MFF by reducing the unallocated margins under the MFF expenditure ceiling. In addition, the planned budgets for Horizon 2020 and CEF have been reduced. It is too soon to assess the opportunity cost of these cuts agreed in 2015 , as the Commission is not yet in a position to assess the impact of EFSI, Horizon 2020 or the CEF.
With the proposed changes, the total potential liability for the EU budget will reach EUR 26 billion (of which around EUR 9 billion to be covered by the Guarantee Fund). Potential liabilities will persist over the lifetime of the investment portfolio.
The impact of EFSI risks being exaggerated : the Court stated that the risk is that the multiplier effect of EFSI is overstated, particularly for the investment projects to which investors committed or which are part of national programmes that existed or were announced even before EFSI was launched. It proposed further developing the methodology to cover financing structures and products which were not in place when the current methodology was established, and using the new methodology to produce the key performance indicator for EFSI showing the private capital attracted.
The Court stressed that there is a risk that the EIB's use of Special Activity status as effectively equivalent to additionality , combined with the pressure to reach the investment target, may create an incentive to use unnecessarily complex financing structures or to allocate a risk profile that does not correspond to the real risk of the operation. It proposed to: (i) make clear that all EFSI supported projects should meet the additionality criteria in the definition of additionality and that the basis for this assessment should be documented; (ii) keep the definition of additionality simple and general by avoiding references to specific cases such as physical infrastructure.
Governance and transparency : the Court noted that there is room to clarify and improve a number of aspects of EFSI governance and transparency. It stressed the need to:
address the geographical and sectorial imbalances on the use of funds; clarify the application of State aid rules for projects combining finance from EFSI and structural funds; clarify the governance structure : the roles and responsibilities of the EFSI's governing bodies should be further clarified and streamlined as they are complex.
Selection of EFSI operations should be more transparent : the Court welcomed the proposals that: (i) the EFSI Investment Committee's decisions should provide the reasons for granting support under the EU guarantee with particular focus on compliance with the additionality criterion; (ii) the scoreboards for the EFSI operations under the EU guarantee (96) should be published as soon as they are signed.
PURPOSE: to extend the duration of the European Fund for Strategic Investments and introduce technical enhancements for that Fund and the European Investment Advisory Hub (EIAH).
PROPOSED ACT: Regulation of the European Parliament and of the Council.
ROLE OF THE EUROPEAN PARLIAMENT: the European Parliament decides in accordance with the ordinary legislative procedure and on an equal footing with Council.
BACKGROUND: since the Investment Plan for Europe was presented in November 2014, the conditions for an uptake in investment have improved and confidence in Europe’s economy and growth are returning. The Union is now in its fourth year of moderate recovery, with GDP growing at 2% in 2015.
The EFSI – implemented and co-sponsored by the European Investment Bank (EIB) Group - was established for an initial period of three years and with the aim of mobilising at least EUR 315 billion in additional investments in the real economy by mid-2018. Given its success, the Commission is committed to the doubling of the EFSI, both in terms of duration and financial capacity.
The Commission feels that the positive momentum generated by the Investment Plan should be maintained. The mechanisms of the Investment Plan work and should be reinforced to continue the mobilisation of private investments in sectors important to Europe's future and where market failures or sub-optimal investment situations remain.
The proposal takes place in the context of the Commission communication of 1 June 2016 entitled ‘ Europe investing again – taking stock of the Investment Plan for Europe and next steps’ , which outlines the achievements so far and the next steps envisaged, including the extension of the duration of the EFSI beyond its initial three-year period, the scaling-up of the SME window within the existing framework and the enhancement of the EIAH.
CONTENT: the proposal to amend Regulation (EU) 2015/1017 establishes the legislative framework needed to extend the duration of the EFSI until the end of the current Multiannual Financial Framework, and sets out technical amendments to the EIAH. It includes the following points:
1) Financing:
- the extension of the duration of the EFSI until the end of the current Multiannual Financial Framework, i.e. until 31 December 2020, with a view to reaching a target for the full investment period of at least EUR 500 billion of private and public investment ;
- the increase of the EU guarantee to EUR 26 billion , of which a maximum of EUR 16 billion are available for guarantee calls prior to 6 July 2018;
- an adjustment of the target rate of the EU guarantee fund to 35 % of total EU guarantee obligation;
- the increase of the EIB contribution from EUR 5 billion to EUR 7.5 billion for the full investment period;
- a further contribution from the general budget of the Union to the EU guarantee fund for the investments to be made during the full investment period through a transfer of EUR 500 million of the available envelope of the Connecting Europe Facility for financial instruments and EUR 150 million from the unallocated margin;
- an estimated EUR 450 million of net positive income from costs charged to beneficiaries and the investment of the guarantee fund's resources will be used to build up the guarantee fund.
2) Governance and project selection:
- enhanced additionality : the proposal includes provisions whereby operations under the EFSI have to address clearly identified market failures or sub-optimal investment situations as part of the eligibility criteria. Projects under the Infrastructure and Innovation window linking two or more Member States must satisfy the additionality requirement;
-support for investments generating growth : the proposal involves:
an additional focus on projects that contribute to achieving the Union's ambitious targets set at the Paris Climate Conference (COP21); targeting energy interconnection priority projects and energy efficiency projects; the explicit inclusion of agriculture, fishery and aquaculture in the general objectives eligible for EFSI support; gearing a larger share of financing towards SMEs given the exceptional market demand for SME financing under the EFSI: 40% of the increase of the EFSI's risk-bearing capacity should be geared towards increasing access to financing for SMEs.
In addition, the proposal provides that EFSI support to motorways should be avoided, unless it is needed to support private investment in transport in cohesion countries or in cross-border transport projects involving at least one cohesion country.
3) Transparency : the proposal provides for:
the requirement that the Investment Committee of the EFSI explain in its decisions, which are made public and accessible, the reasons why it deems that a certain operation should be granted the EU guarantee ; the publication of the scoreboard of indicators once an operation under the EU guarantee is signed ; an obligation for the EIB and the EIF to inform the final beneficiaries , including SMEs, of the existence of EFSI support.
The proposal also includes provisions strengthening compliance with Union principles on good governance relating to taxation , and the coverage of losses due to exchange rate fluctuations in certain situations.
4 ) European Investment Advisory Hub : the proposal provides for:
more targeted technical assistance services for projects involving several Member States, for projects that contribute to reaching the objectives of COP21, for digital infrastructures and for the combination of other sources of Union funding with the EFSI, such as the European Structural and Investment Funds (ESIF), Horizon 2020 and the Connecting Europe Facility; the active contribution of the EIAH to the objective of sectorial and geographical diversification of the EFSI, by supporting the EIB to originate projects where needed.
BUDGETARY IMPLICATIONS: the EU guarantee provided for the EFSI will be increased from EUR 16 billion to EUR 26 billion . Out of the EUR 26 billion, a maximum of EUR 16 billion will be available for guarantee calls prior to 6 July 2018. To provide a guarantee of EUR 26 billion over the full investment period, the guarantee fund should be increased by EUR 1.1 billion, thus reaching EUR 9.1 billion in total.
Payments into the guarantee fund will amount to: EUR 500 million in 2016, EUR 2.3 billion in 2017, EUR 1.6 billion in 2018, EUR 1.4 billion in 2019, EUR 2.0 billion in 2020, EUR 450 million in 2021 and EUR 400 million in 2022. Commitment appropriations will amount to: EUR 1.35 billion in 2015, EUR 2.104 billion in 2016, EUR 2.641 billion in 2017, EUR 2.010 billion in 2018, EUR 167 million in 2019 and EUR 378 million in 2020.
The reallocation from the Connecting Europe Facility requires an amendment of Article 5 of Regulation (EU) 1316/2013 . The financial envelopes for the transport sector and the energy sector laid down in Article 5 should be reduced by respectively EUR 155 million and EUR 345 million.
Documents
- Commission response to text adopted in plenary: SP(2018)32
- Final act published in Official Journal: Regulation 2017/2396
- Final act published in Official Journal: OJ L 345 27.12.2017, p. 0034
- Final act published in Official Journal: Corrigendum to final act 32017R2396R(01)
- Final act published in Official Journal: OJ L 127 23.05.2018, p. 0007-0008
- Draft final act: 00058/2017/LEX
- Results of vote in Parliament: Results of vote in Parliament
- Debate in Parliament: Debate in Parliament
- Decision by Parliament, 1st reading: T8-0478/2017
- Approval in committee of the text agreed at 1st reading interinstitutional negotiations: PE613.384
- Approval in committee of the text agreed at 1st reading interinstitutional negotiations: GEDA/A/(2017)010185
- Coreper letter confirming interinstitutional agreement: GEDA/A/(2017)010185
- Text agreed during interinstitutional negotiations: PE613.384
- Committee report tabled for plenary, 1st reading: A8-0198/2017
- Committee opinion: PE599.625
- Committee opinion: PE597.734
- Committee opinion: PE593.810
- Committee opinion: PE595.749
- Amendments tabled in committee: PE602.737
- Amendments tabled in committee: PE602.738
- Committee draft report: PE597.638
- Committee opinion: PE594.189
- Committee of the Regions: opinion: CDR5690/2016
- Contribution: COM(2016)0597
- Court of Auditors: opinion, report: N8-0142/2016
- Court of Auditors: opinion, report: OJ C 465 13.12.2016, p. 0001
- Document attached to the procedure: COM(2016)0603
- Document attached to the procedure: EUR-Lex
- Document attached to the procedure: EUR-Lex
- Document attached to the procedure: SWD(2016)0299
- Document attached to the procedure: EUR-Lex
- Document attached to the procedure: SWD(2016)0297
- Document attached to the procedure: EUR-Lex
- Document attached to the procedure: SWD(2016)0298
- Legislative proposal published: EUR-Lex
- Legislative proposal published: COM(2016)0597
- Document attached to the procedure: COM(2016)0603 EUR-Lex
- Document attached to the procedure: EUR-Lex SWD(2016)0299
- Document attached to the procedure: EUR-Lex SWD(2016)0297
- Document attached to the procedure: EUR-Lex SWD(2016)0298
- Court of Auditors: opinion, report: N8-0142/2016 OJ C 465 13.12.2016, p. 0001
- Committee of the Regions: opinion: CDR5690/2016
- Committee opinion: PE594.189
- Committee draft report: PE597.638
- Amendments tabled in committee: PE602.737
- Amendments tabled in committee: PE602.738
- Committee opinion: PE593.810
- Committee opinion: PE595.749
- Committee opinion: PE597.734
- Committee opinion: PE599.625
- Coreper letter confirming interinstitutional agreement: GEDA/A/(2017)010185
- Text agreed during interinstitutional negotiations: PE613.384
- Draft final act: 00058/2017/LEX
- Commission response to text adopted in plenary: SP(2018)32
- Contribution: COM(2016)0597
Activities
- Inés AYALA SENDER
Plenary Speeches (1)
- Zoltán BALCZÓ
Plenary Speeches (1)
- Pervenche BERÈS
Plenary Speeches (1)
- David COBURN
Plenary Speeches (1)
- Gérard DEPREZ
Plenary Speeches (1)
- André ELISSEN
Plenary Speeches (1)
- Roberto GUALTIERI
Plenary Speeches (1)
- Barbara KAPPEL
Plenary Speeches (1)
- Bernd KÖLMEL
Plenary Speeches (1)
- Paloma LÓPEZ BERMEJO
Plenary Speeches (1)
- Thomas MANN
Plenary Speeches (1)
- Ivana MALETIĆ
Plenary Speeches (1)
- Notis MARIAS
Plenary Speeches (1)
- Lambert van NISTELROOIJ
Plenary Speeches (1)
- Liadh NÍ RIADA
Plenary Speeches (1)
- Stanisław OŻÓG
Plenary Speeches (1)
- Claude ROLIN
Plenary Speeches (1)
- Theodor Dumitru STOLOJAN
Plenary Speeches (1)
- Isabelle THOMAS
Plenary Speeches (1)
- Ramon TREMOSA i BALCELLS
Plenary Speeches (1)
- Marco VALLI
Plenary Speeches (1)
- Daniele VIOTTI
Plenary Speeches (1)
- Miguel VIEGAS
Plenary Speeches (1)
Votes
A8-0198/2017 - Udo Bullmann et José Manuel Fernandes - Am 4 12/12/2017 12:17:32.000 #
A8-0198/2017 - Udo Bullmann et José Manuel Fernandes - Am 3 12/12/2017 12:17:52.000 #
Amendments | Dossier |
1051 |
2016/0276(COD)
2017/01/31
REGI
138 amendments...
Amendment 100 #
Proposal for a regulation Article 1 – paragraph 1 – point 5 – point b Regulation (EU) No 2015/1017 Article 9 – paragraph 2 The EIB shall target that at least
Amendment 101 #
Proposal for a regulation Article 1 – paragraph 1 – point 5 – point c Regulation (EU) No 2015/1017 Article 9 - paragraph 3 Amendment 102 #
Proposal for a regulation Article 1 – paragraph 1 – point 5 – point c Regulation (EU) No 2015/1017 Article 9 - paragraph 3 Amendment 103 #
Proposal for a regulation Article 1 – paragraph 1 – point 5 – point c Regulation (EU) No 2015/1017 Article 9 – paragraph 3 Amendment 104 #
Proposal for a regulation Article 1 – paragraph 1 – point 5 – point d Regulation (EU) No 2015/1017 Amendment 105 #
Proposal for a regulation Article 1 – paragraph 1 – point 5 – point d Regulation (EU) No 2015/1017 Article 9 – paragraph 4 Amendment 106 #
Proposal for a regulation Article 1 – paragraph 1 – point 5 – point d a (new) Regulation (EU) No 2015/1017 Article 9 – paragraph 7 – subparagraph 1 (da) in paragraph 7, the following subparagraph is added: ‘When EFSI is combined with European Structural and Investment Funds, the highest risk-taking tranche shall be covered by EFSI.’
Amendment 107 #
Proposal for a regulation Article 1 – paragraph 1 – point 6 Regulation (EU) No 2015/1017 Article 10 - paragraph 2 - point a (a) EIB loans, guarantees, counter- guarantees
Amendment 108 #
Proposal for a regulation Article 1 – paragraph 1 – point 7 Regulation (EU) No 2015/1017 Article 11 Amendment 109 #
Proposal for a regulation Article 1 – paragraph 1 – point 7 Regulation (EU) No 2015/1017 Article 11 Amendment 110 #
Proposal for a regulation Article 1 – paragraph 1 – point 8 Regulation (EU) No 2015/1017 Article 12 Amendment 111 #
Proposal for a regulation Article 1 – paragraph 1 – point 8 – point c Regulation (EU) No 2015/1017 Article 12 - paragraphs 8, 9 and 10 Amendment 112 #
Proposal for a regulation Article 1 – paragraph 1 – point 9 – point a – point i Regulation (EU) No 2015/1017 Article 14 – paragraph 1 – first part Such support shall include providing targeted support on the use of technical assistance for project structuring, on the use of innovative financial instruments, taking account of current economic trends, and
Amendment 113 #
Proposal for a regulation Article 1 – paragraph 1 – point 9 – point a – point i Regulation (EU) No 2015/1017 Article 14 – paragraph 1 – first subparagraph Such support shall include providing targeted support on the use of technical assistance for project structuring, on the use of innovative financial instruments and on the use of public-private partnerships, taking into account the specificities and needs of Member States, candidate countries or potential candidate countries, with less-
Amendment 114 #
Proposal for a regulation Article 1 – paragraph 1 – point 9 – point a – point i Regulation (EU) No 2015/1017 Article 14 - paragraph 1 - first part 'Such support shall include providing targeted support on the use of technical assistance for project structuring, on the use of innovative financial instruments and on the use of public-private partnerships
Amendment 115 #
Proposal for a regulation Article 1 – paragraph 1 – point 9 – point b – point i – introductory part (i) point (c) is replaced by the following: leveraging local knowledge accompanied by corresponding information at local, regional and cross-border level for potential beneficiaries in order to facilitate EFSI support across the Union and contributing where possible to the objective of sectorial and geographical diversification of the EFSI referred to in Section 8 of Annex II by supporting the EIB to originate operations;
Amendment 116 #
Proposal for a regulation Article 1 – paragraph 1 – point 9 – point b – point i Regulation (EU) No 2015/1017 Article 14 - paragraph 2 - point c Amendment 117 #
Proposal for a regulation Article 1 – paragraph 1 – point 9 – point b – point i Regulation (EU) No 2015/1017 Article 14 - paragraph 2 - point c (c) leveraging local knowledge and supporting capacity building to facilitate EFSI support across the Union and contributing where possible to the objective of sectorial and geographical diversification of the EFSI referred to in Section 8 of Annex II by supporting the EIB to originate operations;;
Amendment 118 #
Proposal for a regulation Article 1 – paragraph 1 – point 9 – point b – point i Regulation (EU) No 2015/1017 Article 14 – paragraph 2 - point c (c) leveraging regional and local knowledge to facilitate EFSI support across the Union and contributing where possible to the objective of sectorial and geographical diversification of the EFSI referred to in Section 8 of Annex II by supporting the EIB to originate operations;;
Amendment 119 #
Proposal for a regulation Article 1 – paragraph 1 – point 9 – point b – point i Regulation (EU) No 2015/1017 Article 14 - paragraph 2 - point c (c) leveraging local knowledge to facilitate EFSI support across the Union and contributing
Amendment 12 #
Proposal for a regulation Citation 5 a (new) Having regard to the European Investment Bank’s (EIB) first report on "Evaluation of the functioning of the European Fund for Strategic Investments" released on 6 October 2016; Having regard to the European Court of Auditors’ (ECA) Opinion No 2/2016 on "EFSI: an early proposal to extend and expand" released on 11 November 2016;
Amendment 120 #
(ii) p
Amendment 121 #
Proposal for a regulation Article 1 – paragraph 1 – point 9 – point b – point iii Regulation (EU) No 2015/1017 Article 14 – paragraph 2 - point f (f) providing advice on the combination of other sources of Union funding (such as the European Structural and Investment Funds, Horizon 2020 and the Connecting Europe Facility) with the EFSI in order to allow for maximum integration of and synergies between investments with a view to single programming of cohesion policy intervention.;
Amendment 122 #
Proposal for a regulation Article 1 – paragraph 1 – point 9 – point b – point iii Regulation (EU) No 2015/1017 Article 14 – paragraph 2 – point f (f) providing advice on the combination of other sources of Union funding
Amendment 123 #
Proposal for a regulation Article 1 – paragraph 1 – point 9 – point b – point iii a (new) (iiia) (g) providing special assistance in the identification, preparation, development and funding of projects in candidate and potential candidate countries;
Amendment 124 #
Proposal for a regulation Article 1 – paragraph 1 – point 9 – point c Regulation (EU) No 2015/1017 Article 14 – paragraph 5 5. In order to achieve the objective referred to in paragraph 1 and to facilitate the provision of advisory support at regional and local level, the EIAH shall seek to use the expertise of the EIB, the Commission, national promotional banks or institutions, and the managing authorities of the European Structural and Investment Funds.;
Amendment 125 #
Proposal for a regulation Article 1 – paragraph 1 – point 9 a (new) Regulation (EU) No 2015/1017 Article 16 – paragraph 2 Amendment 126 #
Proposal for a regulation Article 1 – paragraph 1 – point 9 a (new) (9a) in Article 16, paragraph 2 is replaced by the following: ‘2. The EIB, in cooperation with the EIF where appropriate, shall submit an annual report to the European Parliament, the Council and the Committee of the Regions on EIB financing and investment operations covered by this Regulation. The report shall be made public and shall include:’
Amendment 127 #
Proposal for a regulation Article 1 – paragraph 1 – point 9 a (new) Regulation (EU) No 2015/1017 Article 16 – paragraph 2 – point f (9a) In Article 16(2), point (f) is replaced by the following: ‘a description of the projects where the support of the European Structural and Investment Funds is combined with the support of the EFSI, the total amount of the contributions from each source as well as the risk profile of each one;
Amendment 128 #
Proposal for a regulation Article 1 – paragraph 1 – point 9 b (new) (9b) in Article 16 the following paragraph is added: ‘7. The EIB shall develop, for reporting purposes, a set of result indicators for each operation, in order to provide a reliable basis for analysing the added value of EU financing. Such a methodology shall be approved by the Steering Board.’
Amendment 129 #
Proposal for a regulation Article 1 – paragraph 1 – point 9 b (new) Regulation (EU) 2015/1017 Article 16 – paragraph 2 – point (f) (9b) (15) Article 16(2)(f) is replaced by the following: "(f) ‘a description of the projects where the support of othe
Amendment 13 #
Proposal for a regulation Citation 5 a (new) Having regard to the opinion of the Court of Auditors,
Amendment 130 #
Proposal for a regulation Article 1 – paragraph 1 – point 10 Regulation (EU) No 2015/1017 Article 18 Amendment 131 #
Proposal for a regulation Article 1 – paragraph 1 – point 10 – point a Regulation (EU) No 2015/1017 Article 16 – paragraph 6 Amendment 132 #
Proposal for a regulation Article 1 – paragraph 1 – point 10 – point a Regulation (EU) No 2015/1017 Article 18 - paragraph 6 6. By 30 June 2018 and 30 June 2020, the Commission shall submit to the European Parliament and the Council a report containing an independent evaluation of the application of this Regulation
Amendment 133 #
Proposal for a regulation Article 1 – paragraph 1 – point 10 – point a 6. By 30 June 2018 and 30 June 2020, the Commission shall submit to the European Parliament and the Council, the European Central Bank, the European Economic and Social Committee, the Committee of the Regions and the European Investment Bank a report containing an independent evaluation of the application of this Regulation.;
Amendment 134 #
Proposal for a regulation Article 1 – paragraph 1 – point 10 – point a Regulation (EU) No 2015/1017 Article 18 - paragraph 6 6. By 30 June 2018
Amendment 135 #
Proposal for a regulation Article 1 – paragraph 1 – point 11 The EIB and EIF shall inform
Amendment 136 #
Proposal for a regulation Article 1 – paragraph 1 – point 11 Regulation (EU) No 2015/1017 Article 19 - paragraph 1 a (new) The EIB and EIF shall inform or shall oblige financial intermediaries to inform the final beneficiaries, including SMEs, of the existence of
Amendment 137 #
Proposal for a regulation Article 1 – paragraph 1 – point 13 Regulation (EU) No 2015/1017 Article 23 - paragraph 2 - subparagraph 1 - first and the second sentences Amendment 138 #
Proposal for a regulation Article 1 – paragraph 1 – point 13 Regulation (EU) No 2015/1017 Article 23 - paragraph 2 - subparagraph 1 - first and the second sentences Amendment 139 #
Proposal for a regulation Article 1 – paragraph 1 – point 14 Regulation (EU) No 2015/1017 Annex II Amendment 14 #
Proposal for a regulation Recital 1 (1)
Amendment 141 #
Proposal for a regulation Article 2 – paragraph 1 – point 1 Regulation (EU) No 1316/2013 Article 5 - paragraph 1 Amendment 142 #
Proposal for a regulation Annex II – point 1 – point a Regulation (EU) No 2015/1017 Annex II – Section 2 – point (b) EFSI support to motorways shall be avoided
Amendment 143 #
Proposal for a regulation Annex II – point 1 – point a Regulation (EU) No 2015/1017 Annex II – section 2 –point b EFSI support to motorways shall be avoided, unless it is needed to support public or private investment in transport in cohesion countries or in cross-border transport projects involving at least one cohesion country.;
Amendment 144 #
Proposal for a regulation Annex II – point 1 – point a Regulation (EU) No 2015/1017 Annex II - section 2 - point b EFSI support to motorways shall be avoided, unless it is needed to support
Amendment 145 #
Proposal for a regulation Annex II – point 1 – point a Regulation (EU) No 2015/1017 Annex II – section 2 – point b (aa) in point (b), a second subparagraph is added: ‘EFSI support to fossil fuel projects as well as the decommissioning or the construction of nuclear power stations shall be excluded.’
Amendment 146 #
Proposal for a regulation Annex II – point 1 – point a Regulation (EU) No 2015/1017 Annex II – Section 2 – point (b) (ab) in point (b), a second subparagraph is added: ‘EFSI support to airport infrastructure shall be avoided, unless related to environmental protection or accompanied by investment necessary to mitigate or reduce its negative environmental impact.’
Amendment 147 #
Proposal for a regulation Annex II – point 1 a (new) (1a) (-a) in point (a), the fifth indent is replaced by the following: ‘public sector entities (territorial or otherwise, but excluding operations with such entities giving rise to direct Member State risk) and public-sector type entities. A European Grouping of Territorial Cooperation (EGTC), established in accordance with Regulation No 1082/2006 on EGTC*, shall be considered an entity not giving rise to direct Member State risk. ----------------------------------- * Regulation (EC) No 1082/2006 of the European Parliament and of the Council of 5 July 2006 on a European grouping of territorial cooperation (EGTC), OJ L 210, 31.7.2006, p. 19-24’
Amendment 148 #
Proposal for a regulation Annex II – point 2 Regulation (EU) No 2015/1017 Annex II – Section 3 – point (d) (da) in order to foster sustainable investment, projects supported by the EFSI shall generate long-term societal and environmental benefits.
Amendment 149 #
Proposal for a regulation Annex II – point 6 – point c Regulation (EU) No 2015/1017 Annex II – Section 8 – point b (c) in the first sentence of point (b), the word ‘initial’ is deleted. In the second sentence of point (b), the word ‘adopt’ is replaced by ‘adopt and ensure the effective implementation of’.
Amendment 15 #
Proposal for a regulation Recital 2 Amendment 16 #
Proposal for a regulation Recital 2 (2) That positive momentum should be maintained and efforts need to be continued to bring investment back to its long-term sustainable trend. The mechanisms of the Investment Plan work and should be reinforced to continue the mobilisation of private investments in sectors important to Europe’s
Amendment 17 #
Proposal for a regulation Recital 2 (2) That
Amendment 18 #
Proposal for a regulation Recital 3 a (new) (3a) On 11 November 2016, the European Court of Auditors published an opinion in which it stated that: the ‘European Commission plans to increase and extend the investment fund at the heart of the ‘Juncker Plan’ were drawn up too soon and with little evidence that the increase is justified’. The Court also highlighted the fact that ‘no comprehensive impact assessment has been made’ and criticised the ‘deletion of the provision linking the continuation of EFSI to the results of an independent evaluation’. It also emphasised ‘the risk that the multiplier effect is overstated’, and that the objectives and results cited were those expected and not ones confirmed by tangible, accurate, clear or immediate statistics.
Amendment 19 #
Proposal for a regulation Recital 4 (4) The EFSI, implemented and co- sponsored by the EIB Group, is
Amendment 20 #
Proposal for a regulation Recital 4 (4) The EFSI, implemented and co- sponsored by the EIB Group,
Amendment 21 #
Proposal for a regulation Recital 4 a (new) (4a) Articles 18(6) and 18(7) of the Regulation (EU) No 2015/1017 provide for a proposal to amend that Regulation to be made by 5 July 2018 and require that such a proposal should be supported by an independent evaluation on whether EFSI "is achieving its objectives and maintaining a scheme for supporting investment is warranted". This independent evaluation of the application of that Regulation carried out by external experts was released only after the Commission’s proposal on the extension of EFSI.
Amendment 22 #
Proposal for a regulation Recital 5 (5) On 28 June 2016 the European Council, despite not having at its disposal any independent assessment containing accurate and objective statistics concluded that "The Investment Plan for Europe, in particular the European Fund for Strategic Investments (EFSI), has already delivered concrete results and is a major step to help mobilise private investment while making smart use of scarce budgetary resources." The Commission intends to soon put forward proposals on the future of the EFSI, which should be examined as a matter of urgency by the European Parliament and the Council".
Amendment 23 #
Proposal for a regulation Recital 6 Amendment 24 #
Proposal for a regulation Recital 6 (6) The EFSI was established for an initial period of three years and with the aim of mobilising at least EUR 315 billion in investments.
Amendment 25 #
Proposal for a regulation Recital 6 (6) The EFSI was established for an initial period of three years and with the aim of mobilising at least EUR 315 billion in investments.
Amendment 26 #
Proposal for a regulation Recital 6 (6) The EFSI was established for an initial period of three years and with the aim of mobilising at least EUR 315 billion in investments. Given
Amendment 27 #
Proposal for a regulation Recital 6 a (new) (6a) On 11 November 2016, the European Court of Auditors concluded that it was still too soon for the economic, social and environmental impacts to be measured or for a conclusion to be drawn as to whether EFSI was achieving its objectives. A comprehensive impact assessment shall provide for the necessary evidence whether or not the EFSI should be extended.
Amendment 28 #
Proposal for a regulation Recital 7 (7) For the period after 2020, the Commission intends to put forward the necessary proposals to ensure that strategic investment will continue at a sustainable level, in particular through the ESI Funds which will continue to represent the key funds to support cohesion and investments in all Member States and regions, aiming at promoting growth and jobs and reducing development gaps among EU regions.
Amendment 29 #
Proposal for a regulation Recital 7 (7) For the period after 2020, the Commission intends to put forward the necessary proposals to ensure that strategic investment will continue at a sustainable level, while continuing to ensure complementarity between structural and investment funds.
Amendment 30 #
Proposal for a regulation Recital 7 a (new) (7a) Proposals aiming at extending the investment period after 2020 should be preceded by and based on independent evaluations, which analyse whether EFSI achieves its objectives, in particular regarding the additionality of projects as well as its impact on growth and employment.
Amendment 31 #
Proposal for a regulation Recital 7 b (new) (7b) Proposals on the extension of the EFSI should not aim at replacing or reducing the budget of the European Structural and Investment Funds.
Amendment 32 #
Proposal for a regulation Recital 8 (8) The extended EFSI should address remaining market failures and sub-optimal investment situations and
Amendment 33 #
Proposal for a regulation Recital 8 (8) The extended EFSI should address remaining market failures and sub-optimal investment situations and continue to mobilise private sector financing in investments crucial for Europe’s future job creation – including for the youth –, sustainable growth and competitiveness
Amendment 34 #
Proposal for a regulation Recital 8 (8) The
Amendment 35 #
Proposal for a regulation Recital 8 (8) The extended EFSI should address remaining market failures and sub-optimal investment situations and continue to mobilise private sector financing in investments crucial for Europe’s future job creation – including for the youth –, growth and competitiveness with strengthened additionality. They include investments in the areas of energy, environment and climate action, social and human capital and related infrastructure, healthcare, research and innovation, cross- border and sustainable transport, as well as the digital transformation, taking account of the need to adapt to current trends by facilitating collaborative economy instruments. In particular, the contribution of operations supported by the EFSI to achieving the Union's ambitious targets set at the Paris Climate Conference (COP21) should be reinforced. Energy interconnection priority projects and energy efficiency projects should also be increasingly targeted. In addition, EFSI
Amendment 36 #
Proposal for a regulation Recital 8 (8) The extended EFSI should address remaining market failures and sub-optimal investment situations and continue to foster public and private partnerships and mobilise private sector financing in investments crucial for Europe’s future job creation – including for the youth –, growth and competitiveness with strengthened additionality. They include investments in the areas of energy, environment and climate action, social and human capital and related infrastructure, healthcare, research and innovation, cross- border and sustainable transport, as well as the digital transformation. In particular, the contribution of operations supported by the EFSI to achieving the Union’s ambitious targets set at the Paris Climate Conference (COP21) should be reinforced. Energy interconnection priority projects and energy efficiency projects should also be increasingly targeted. In addition, EFSI
Amendment 37 #
Proposal for a regulation Recital 9 (9) Additionality, a key feature of the EFSI, should be strengthened in the selection of projects. In particular, operations should only be eligible for EFSI support if they address clearly identified market failures or sub-optimal investment situations.
Amendment 38 #
Proposal for a regulation Recital 9 (9) Additionality, a key feature of the EFSI, should be strengthened in the selection of projects. In particular, operations should only be eligible for EFSI support if they address clearly identified market failures or sub-optimal investment situations.
Amendment 39 #
Proposal for a regulation Recital 10 (10) Due to their potential to increase the efficiency of the EFSI intervention, blending operations combining non- reimbursable forms of support and/or financial instruments from the Union budget, such as those available under the Connecting Europe Facility, and financing from EIB Group, including EIB financing under the EFSI, as well as other investors should be encouraged. Blending aims to enhance the value added of Union spending by attracting additional resources from private investors and to ensure the actions supported become economically and financially viable. The combined use of EFSI and ESIF can help attain a wider geographical coverage of EFSI; the way these funds are blended should be further developed and simplified.
Amendment 40 #
Proposal for a regulation Recital 10 (10) Due to their potential to increase the efficiency of the EFSI intervention, blending operations combining non- reimbursable forms of support and/or financial instruments from the Union budget, such as those available under the Connecting Europe Facility, and financing from EIB Group, including EIB financing under the EFSI, as well as other investors should be encouraged. Blending aims to enhance the value added of Union spending by attracting additional resources from private investors and to ensure the actions supported become economically and financially viable. However it is crucial that EFSI will not replace or crowd out the grants and its additionality will be maintained.
Amendment 41 #
Proposal for a regulation Recital 10 (10) Due to their potential to increase the efficiency of the EFSI intervention, blending operations combining non- reimbursable forms of support and/or financial instruments from the Union budget, su
Amendment 42 #
Proposal for a regulation Recital 10 (10) Due to their potential to increase the efficiency of the EFSI intervention, blending operations combining non- reimbursable forms of support and/or financial instruments from the Union budget, such as those available under the Connecting Europe Facility, and financing from EIB Group, including EIB financing under the EFSI, as well as other investors should be encouraged. Blending aims to enhance the value added of Union spending by attracting additional resources from private investors and to ensure the actions supported become economically and financially viable. However, it is crucial that the EFSI does not replace or crowd-out grants;
Amendment 43 #
Proposal for a regulation Recital 10 (10) Due to their potential to increase the efficiency of the EFSI intervention, blending operations combining non- reimbursable forms of support and/or financial instruments from the Union budget not subject to excessive risk, such as some of those available under the Connecting Europe Facility, and financing from EIB Group, including EIB financing under the EFSI, as well as other investors should be encouraged. Blending aims to enhance the value added of Union spending by attracting additional resources from private investors and to ensure the actions supported become economically and financially viable.
Amendment 44 #
Proposal for a regulation Recital 10 (10) Due to their potential to increase the efficiency of the EFSI intervention,
Amendment 45 #
Proposal for a regulation Recital 10 a (new) (10a) Combining EFSI and European Structural and Investment Funds should be based on a thorough ex-ante assessment of the additionality provided by EFSI interventions and should be allowed only if the amount of grants available to beneficiaries remains unchanged;.
Amendment 46 #
Proposal for a regulation Recital 10 a (new) (10a) The potential of EFSI in upturning the labour markets and creating sustainable jobs should be made more evident, as it is the case in the Cohesion Policy, and the relevant reliable data should be gathered and analysed.
Amendment 47 #
Proposal for a regulation Recital 11 Amendment 48 #
Proposal for a regulation Recital 11 (11)
Amendment 49 #
Proposal for a regulation Recital 11 (11) In order to reinforce the take-up of the EFSI in less-developed and transition regions, the scope of the general objectives eligible for EFSI support should be enlarged, while ensuring that the eligibility of projects is protected from all geographic constraints and from any interference that could lead to appropriations being spread too thinly.
Amendment 50 #
Proposal for a regulation Recital 11 (11)
Amendment 51 #
Proposal for a regulation Recital 11 (11) In order to reinforce the take-up of the EFSI in less-developed and transition regions, the scope of the general objectives eligible for EFSI support should be enlarged. In the context of reinforcing the take-up of EFSI, measures should also be taken to enhance the sectorial and geographical diversification of EFSI.
Amendment 52 #
Proposal for a regulation Recital 11 (11) In order to reinforce the take-up of the EFSI in less-developed and transition regions, the scope of the general objectives eligible for EFSI support should be enlarged, bearing in mind that the need for development in these regions confirms the potential available for investment.
Amendment 53 #
Proposal for a regulation Recital 11 (11) In order to reinforce the take-up of the EFSI in less-developed and transition regions, the scope of the general objectives eligible for EFSI support should be enlarged, as long as this is line with the principles set out in the Treaty in relation to territorial, social and economic cohesion.
Amendment 54 #
Proposal for a regulation Recital 11 (11) In order to reinforce the take-up of the EFSI in less-developed and transition regions, the scope of the general objectives eligible for EFSI support should be enlarged, with special attention to agriculture.
Amendment 55 #
Proposal for a regulation Recital 11 a (new) (11a) With a view to contributing to the Union objective of economic, social and territorial cohesion and reducing regional disparities, the geographical balance of EFSI support needs urgently be enhanced by providing for effective implementation of geographical diversification and concentration guidelines and by strengthening the role of the European Investment Advisory Hub (EIAH).
Amendment 56 #
Proposal for a regulation Recital 11 a (new) (11a) While EFSI and the European Structural and Investment Funds (ESIF) are in a way complementary, supporting strategic investments of European added value to achieve the Union policy objectives, it has to be reminded, that their scope, objectives, rationale, design as well as legal and regulatory framework are purposefully different;
Amendment 57 #
Proposal for a regulation Recital 11 a (new) (11a) In order to maximise the impact of the EFSI, particularly as regards attaining targets in the areas of energy, environment, climate policy and transport, it is important – with a view to preventing cross-border pollution and removing barriers to achieving standards for speed and security in the aforementioned areas – to allow the financing of projects in non-Member States that border the Union.
Amendment 58 #
Proposal for a regulation Recital 11 a (new) (11a) Stresses the need to provide technical assistance to public and private beneficiaries at regional and local level.
Amendment 59 #
Proposal for a regulation Recital 11 b (new) (11b) It is necessary to allow the financing of projects in all candidate and potential candidate countries, provided that EU laws are upheld, in order to ensure that EU standards are attained and that functional market economies are established in those countries.
Amendment 60 #
Proposal for a regulation Recital 12 Amendment 61 #
Proposal for a regulation Recital 12 Amendment 62 #
Proposal for a regulation Recital 13 Amendment 63 #
Amendment 64 #
Proposal for a regulation Recital 14 Amendment 65 #
Proposal for a regulation Recital 16 (16) In line with the exceptional market demand for SME financing under the EFSI which is expected to continue, the EFSI SME Window should be enhanced. Particular attention should be paid to social enterprises
Amendment 66 #
Proposal for a regulation Recital 16 (16) In line with the exceptional market demand for SME financing under the EFSI which is expected to continue, the EFSI SME Window should be enhanced. Particular attention should be paid to social enterprises, including through the development and deployment of new instruments and the diversification of financing sources by encouraging multiple financing such as crowdfunding.
Amendment 67 #
Proposal for a regulation Recital 16 (16) In line with the exceptional market demand for SME financing under the EFSI which is expected to continue, the EFSI SME and midcap Window should be enhanced. Particular attention should be paid to social enterprises, as well as sustainable/environmental projects, including through the development and deployment of new instruments.
Amendment 68 #
Proposal for a regulation Recital 16 (16) In line with the exceptional market demand for SME financing under the EFSI which is expected to continue, the EFSI SME Window should be enhanced, especially in the less-developed regions and transition regions. Particular attention should be paid to social enterprises, including through the development and deployment of new instruments.
Amendment 69 #
Proposal for a regulation Recital 16 (16) In line with the exceptional market demand for SME financing under the EFSI which is expected to continue, the EFSI SME Window should be enhanced. Particular attention should be paid to
Amendment 70 #
Proposal for a regulation Recital 17 (17) The EIB and the EIF should ensure that the final beneficiaries, including SMEs, are informed of the existence of
Amendment 71 #
Proposal for a regulation Recital 17 (17) The EIB and the EIF should ensure that the final beneficiaries, including SMEs, are informed of the existence of EFSI support, by identifying instruments to measure the degree of visibility of EFSI investment, so as to enhance the visibility of the EU guarantee granted under Regulation (EU) 2015/1017.
Amendment 72 #
Proposal for a regulation Recital 17 (17) The EIB and the EIF should ensure that the final beneficiaries, including
Amendment 73 #
Proposal for a regulation Recital 17 (17) The EIB and the EIF should ensure that the final beneficiaries, including SMEs
Amendment 74 #
Proposal for a regulation Recital 17 a (new) (17a) To improve the transparency of the EFSI, the EIB must publish all information and impact assessment results relating to operations carried out, indicating added value and additionality for each funded project and its contribution to the achievement of EFSI targets and long-term EU strategies and core objectives. Similarly, the EIB must publish analytical data for each funded project, including EFSI lending through financial intermediaries, giving ex-ante and ex-post assessments of each project with a detailed explanation of the selection and assessment indicators and criteria used. Finally, the publication of objective data is necessary relating to jobs directly and indirectly created through the EFSI, bearing in mind also the Social Pillar being developed by the Commission.
Amendment 75 #
Proposal for a regulation Recital 17 a (new) (17a) Stresses the need to launch awareness campaigns regarding EFSI investment projects;
Amendment 76 #
Proposal for a regulation Recital 21 (21) The European Investment Advisory Hub (EIAH) should be enhanced and its activities should focus on needs not covered adequately under current arrangements. It should pay particular attention to supporting the preparation of
Amendment 77 #
Proposal for a regulation Recital 21 (21) The European Investment Advisory Hub (EIAH) should be enhanced and its activities should focus on needs not covered adequately under current arrangements. It should pay particular attention to supporting the preparation of projects involving two or more Member States and projects that contribute to achieving the objectives of COP21 and the Europe 2020 strategy, including tackling poverty and social exclusion. Notwithstanding its objective to build upon existing advisory services of the EIB and the Commission, so to act as a single technical advisory hub for project financing within the Union, the EIAH should also contribute actively to the objective of sectorial and geographical diversification of the EFSI and support the EIB where needed in originating projects.
Amendment 78 #
Proposal for a regulation Article 1 – paragraph 1 – introductory part Regulation (EU)
Amendment 79 #
Proposal for a regulation Article 1 – paragraph 1 – point 1 Regulation (EU) No 2015/1017 Article 4 – paragraph 2 Amendment 80 #
Proposal for a regulation Article 1 – paragraph 1 – point 1 – point b a (new) Regulation (EU) No 2015/1017 Article 4 – paragraph 2 – point f - point v (new) (ba) in point (f), the following point (v) is added: ‘(v) detailed information regarding tax payments resulting from its investment and lending operations under the EFSI; detailed reporting requirements regarding accessibility and costs to SMEs; detailed reporting requirements regarding the impact of investments in regard to social, economic and territorial cohesion;
Amendment 81 #
Proposal for a regulation Article 1 – paragraph 1 – point 1 a (new) (1a) in Article 5(1) the second subparagraph is replaced by the following: ‘EIB special activities, as defined in Article 16 of the EIB Statute and by the credit risk policy guidelines of the EIB, supported by the EFSI, shall also be considered to provide additionality under the condition that it is publicly documented that they address market failure or sub-optimal investment situations and could not have been carried out without EFSI support in the same period by the EIB, the EIF or under existing Union financial instruments,’
Amendment 82 #
Proposal for a regulation Article 1 – paragraph 1 – point 2 Regulation (EU) No 2015/1017 Article 5 – paragraph 1 Amendment 83 #
Proposal for a regulation Article 1 – paragraph 1 – point 2 Regulation (EU) No 2015/1017 Article 5 – paragraph 1 To better address market failures or sub- optimal investment situations as well as forms of government failure (e.g. sub- optimal investment situations due to barriers caused by national borders/regulation), EIB special activities supported by the EFSI shall typically have features such as subordination, participation in risk-sharing instruments, cross-border characteristics, exposure to specific risks or other
Amendment 84 #
Proposal for a regulation Article 1 – paragraph 1 – point 2 Regulation (EU) No 2015/1017 Article 5 - paragraph 1 EIB projects carrying a risk lower than the minimum risk under EIB special activities
Amendment 85 #
Proposal for a regulation Article 1 – paragraph 1 – point 2 Regulation (EU) No 2015/1017 Article 5 – paragraph 1 – third subparagraph Projects supported by the EFSI shall also be considered to provide additionality when generating long-term societal and environmental benefits.
Amendment 86 #
Proposal for a regulation Article 1 – paragraph 1 – point 2 Regulation (EU) No 20015/1017 Article 5 – paragraph 1 – third subparagraph Amendment 87 #
Proposal for a regulation Article 1 – paragraph 1 – point 2 Regulation (EU) No 2015/1017 Article 5 – paragraph 1 – third subparagraph The projects supported by the EFSI that consist of physical infrastructure linking two or more Member States, candidate countries or potential candidate countries, or of the extension of physical infrastructure or services linked to physical infrastructure from one Member State to one or more Member States,
Amendment 88 #
Proposal for a regulation Article 1 – paragraph 1 – point 2 Regulation (EU) No 2015/1017 Article 5 - paragraph 1 The projects supported by the EFSI that consist of physical or digital infrastructure linking two or more Member States or of the extension of physical or digital infrastructure or services linked to physical or digital infrastructure from one Member State to one or more Member States, shall also be considered to provide additionality.;
Amendment 89 #
Proposal for a regulation Article 1 – paragraph 1 – point 2 Regulation (EU) No 2015/1017 Article 5 – paragraph 1 – third subparagraph The projects supported by the EFSI shall prove their additionality. The Investment Committee shall ensure that additionality is verified in its selection procedure.
Amendment 90 #
Proposal for a regulation Article 1 – paragraph 1 – point 3 Regulation (EU) No 2015/1017 Article 6 - paragraph 1 - introductory words The EFSI Agreement shall provide that the EFSI is to support geographically balanced projects which address market failures or sub-optimal investment situations and which:;
Amendment 91 #
Proposal for a regulation Article 1 – paragraph 1 – point 3 Regulation (EU) No 2015/1017 Article 6 - paragraph 1 The EFSI Agreement shall provide that the EFSI is to support projects which are additional and address market failures or sub-optimal investment situations and which:;
Amendment 92 #
Proposal for a regulation Article 1 – paragraph 1 – point 4 – point a – introductory part (a) Paragraph 8 is amended as follows: (-i) In third paragraph second sentence is replaced by the following: The Steering Board shall strive to select experts altogether having mix of experience in investment in all of the following fields:
Amendment 93 #
Proposal for a regulation Article 1 – paragraph 1 – point 4 – point d Regulation (EU) No 2015/1017 Article 7 - paragraph 10 - subparagraph 2 Decisions approving the use of the EU guarantee shall be public and accessible, and include the rationale for the decision, with particular focus on compliance with the additionality criterion
Amendment 94 #
Proposal for a regulation Article 1 – paragraph 1 – point 4 – point d Regulation (EU) No 2015/1017 Article 7 - paragraph 12 Decisions approving the use of the EU guarantee shall be public and accessible, and include the rationale for the decision, with particular focus on compliance with the Union policies, including the objective of smart, sustainable and inclusive growth, quality job creation and economic, social and territorial cohesion and with the additionality criterion. The publication shall not contain commercially sensitive information. In reaching its decision, the Investment Committee shall be supported by the documentation provided by the EIB.;
Amendment 95 #
Proposal for a regulation Article 1 – paragraph 1 – point 4 – point d Regulation (EU) No 2015/1017 Article 7 - paragraph 8 - point d 'Decisions approving the use of the EU guarantee shall be public and accessible, and include the rationale for the decision, with particular focus on compliance with the additionality criterion. (Th
Amendment 96 #
Proposal for a regulation Article 1 – paragraph 1 – point 4 – point d Regulation (EU) No 2015/1017 Article 10 – paragraph 12 Decisions approving the use of the EU guarantee shall be public and accessible, and include the rationale for the decision, with particular focus on compliance with the additionality criterion. The
Amendment 97 #
Proposal for a regulation Article 1 – paragraph 1 – point 4 – point d Regulation (EU) No 2015/1017 Paragraph 12 - subparagraph 2 - subparagraph 2 Decisions approving the use of the EU
Amendment 98 #
Proposal for a regulation Article 1 – paragraph 1 – point 5 – point a Regulation (EU) No 2015/1017 Article 9 – paragraph 2 Amendment 99 #
Proposal for a regulation Article 1 – paragraph 1 – point 5 – point a a (new) Regulation (EU) No 2015/1017 Article 9 – paragraph 2 – point f (aa) in paragraph 2, point (f) is replaced by the following: ‘(f) climate change mitigation and adaptation, environment and resource efficiency, in particular through:’
source: 597.735
2017/02/07
EMPL
113 amendments...
Amendment 100 #
Proposal for a regulation Article 1 – paragraph 1 – point 5 – point a a (new) Regulation (EU) 2015/1017 Article 9 – paragraph 2 – point i a (new) (aa) in paragraph 2, the following point is added: “(ia) provision of appropriate financing – long term loans and equity investment - from seed to expansion stages for social economy organizations, including social enterprises, to ensure long-term sustainability, and the usability for financial institutions/ intermediaries, addressing needs for specific groups, including elderly, long-term unemployed, young and migrants, with terms and conditions adopted to the social economy organizations, including the amount of investments adapted to social economy organizations (loans from 50.000 to 200.000 EUR);”
Amendment 101 #
Proposal for a regulation Article 1 – paragraph 1 – point 5 – point a a (new) Regulation (EU) 2015/1017 Article 9 – paragraph 2 – point i a (new) Amendment 102 #
Proposal for a regulation Article 1 – paragraph 1 – point 5 – point b Regulation (EU) 2015/1017 Article 9 – paragraph 2 – subparagraph 2 Amendment 103 #
Proposal for a regulation Article 1 – paragraph 1 – point 5 – point b Regulation (EU) 2015/1017 Article 9 – paragraph 2 – subparagraph 2 The EIB shall target that at least
Amendment 104 #
Proposal for a regulation Article 1 – paragraph 1 – point 5 – point b Regulation (EU) 2015/1017 Article 9 – paragraph 2 – subparagraph 2 The EIB shall target that at least 40 % of EFSI financing under the infrastructure and innovation window supports projects with components that contribute to climate action and job creation, in line with the COP21 commitments and the Europe 2020 strategy. The Steering Board shall provide detailed guidance to that end.;
Amendment 105 #
Proposal for a regulation Article 1 – paragraph 1 – point 5 – point b a (new) (ba) the following paragraph is added: “2a. In order to ensure that EFSI contributes to the creation of quality employment through a clear recognition of workers’ rights, all projects eligible shall comply with the European Charter of Fundamental Rights, particularly Title IV, and shall be in line with the European Social Charter.”
Amendment 106 #
Proposal for a regulation Article 1 – paragraph 1 – point 5 – point c Regulation (EU) 2015/1017 Article 9 – paragraph 3 Amendment 107 #
Proposal for a regulation Article 1 – paragraph 1 – point 5 – point d a (new) Regulation (EU) 2015/1017 Article 9 – paragraph 7 a (new) (da) the following paragraph is added: “7a. Overall, the EU guarantee shall support projects contributing to regional and social cohesion in the Union. Therefore, specific targets shall be set in order to guarantee that financing is available, in priority, to those regions with higher unemployment or poverty rates or with lower incomes per capita, in line with social and cohesion policy priorities. When appropriate, quotas shall be introduced and specific financial and technical support shall be made available.”
Amendment 108 #
Proposal for a regulation Article 1 – paragraph 1 – point 5 – point d b (new) Regulation (EU) 2015/1017 Article 9 – paragraph 7 b (new) (db) the following paragraph is added: “7b. The EU guarantee shall not be used to open up for privatisation of those sectors under public control or that serve a legitimate public interest including, inter alia, healthcare, social and environmental services, education, infrastructure and other public investments. Thus, EFSI support in these fields shall be made available as direct loan provision for public authorities, especially those that may have difficulty in accessing private finance, in line with Article 5.”
Amendment 109 #
Proposal for a regulation Article 1 – paragraph 1 – point 6 Regulation (EU) 2015/1017 Article 10 – paragraph 2 – point a (a) EIB loans, guarantees, counter- guarantees
Amendment 110 #
Proposal for a regulation Article 1 – paragraph 1 – point 7 – point a Regulation (EU) 2015/1017 Article 11 – paragraph 1 1. The EU guarantee shall not, at any time, exceed EUR
Amendment 111 #
Proposal for a regulation Article 1 – paragraph 1 – point 8 – point b Regulation (EU) 2015/1017 Article 12 – paragraph 7 Amendment 112 #
Proposal for a regulation Article 1 – paragraph 1 – point 8 – point c Regulation (EU) 2015/1017 Article 12 – paragraph 10 (c) In the event that the EU guarantee is fully restored up to an amount of EUR
Amendment 113 #
Proposal for a regulation Article 1 – paragraph 1 – point 9 – point a – point i Regulation (EU) 2015/1017 Article 14 – paragraph 1 – subparagraph 1 – second sentence Such support shall include providing targeted support on the use of technical assistance for project structuring,
Amendment 114 #
Proposal for a regulation Article 1 – paragraph 1 – point 9 – point a – point i Regulation (EU) 2015/1017 Article 14 – paragraph 1 – subparagraph 1 – second sentence Such support shall include providing
Amendment 115 #
Proposal for a regulation Article 1 – paragraph 1 – point 9 – point a – point i Regulation (EU) 2015/1017 Article 14 – paragraph 1 – subparagraph 1 – second sentence Such support shall include providing targeted local support on the use of technical assistance for project structuring, on the use of innovative financial instruments and on the use of public- private partnerships, taking into account the specificities and needs of Member States with less-
Amendment 116 #
Proposal for a regulation Article 1 – paragraph 1 – point 9 – point a – point i a (new) Regulation (EU) 2015/1017 Article 14 – paragraph 1 – subparagraph 2 (ia) subparagraph 2 is replaced by the following: The EIAH shall be able to provide technical assistance in the areas listed in Article 9(2), in particular energy efficiency, TEN-T
Amendment 117 #
Proposal for a regulation Article 1 – paragraph 1 – point 9 – point a – point ii Regulation (EU) 2015/1017 Article 14 – paragraph 1 –subparagraph 2 – second sentence It shall also support the preparation of climate action and circular economy projects or components thereof,
Amendment 118 #
Proposal for a regulation Article 1 – paragraph 1 – point 9 – point a – point ii Regulation (EU) 2015/1017 Article 14 – paragraph 1 –subparagraph 2 – second sentence It shall also support the preparation of
Amendment 119 #
Proposal for a regulation Article 1 – paragraph 1 – point 9 – point a – point ii Regulation (EU) 2015/1017 Article 14 – paragraph 1 – subparagraph 2 – second sentence It shall also support the preparation of climate action and circular economy projects or components thereof, in particular in the context of COP21, in the development of projects tackling poverty and social exclusion, the preparation of projects in the digital sector, as well as the preparation of projects referred to in the fifth subparagraph of Article 5(1).;
Amendment 120 #
Proposal for a regulation Article 1 – paragraph 1 – point 9 – point b – point i Regulation (EU) 2015/1017 Article 14 – paragraph 2 – point c (c) leveraging local knowledge, collaborating closer with Member States authorities and focusing on building capacity, so as to facilitate EFSI support across the Union and contributing where possible to the objective of sectorial and geographical diversification of the EFSI referred to in Section 8 of Annex II by supporting the EIB to originate operations and increase collaboration with Member States;;
Amendment 121 #
Proposal for a regulation Article 1 – paragraph 1 – point 9 – point b – point ii Regulation (EU) 2015/1017 Article 14 – paragraph 2 – point e (e) providing pro-active support on the establishment of investment platforms
Amendment 122 #
Proposal for a regulation Article 1 – paragraph 1 – point 9 – point b – point iii Regulation (EU) 2015/1017 Article 14 – paragraph 2 – point f (f) providing advice on the
Amendment 123 #
Proposal for a regulation Article 1 – paragraph 1 – point 9 – point b – point iii a (new) Regulation (EU) 2015/1017 Article 14 – paragraph 2 – point f a (new) (iiia) the following point (fa) is added: “(fa) EIAH services provided to projects covered by targeted funding under Article 9(2) shall also be free of charge.”
Amendment 124 #
Proposal for a regulation Article 1 – paragraph 1 – point 9 – point c Regulation (EU) 2015/1017 Article 14 – paragraph 5 5. In order to achieve the objective referred to in paragraph 1
Amendment 125 #
Proposal for a regulation Article 1 – paragraph 1 – point 9 a (new) Regulation (EU) 2015/1017 Article 16 – paragraph 2 – point c (9a) in Article 16, paragraph 2, point (c) is replaced by the following: (c) an assessment of the extent to which operations covered by this Regulation contribute to the achievement of the general objectives set out in Article 9(2) including an assessment of the level of EFSI investments in the areas of research, development and innovation and transport (including TEN-T and urban mobility), telecommunications, energy infrastructure
Amendment 126 #
Proposal for a regulation Article 1 – paragraph 1 – point 10 – point a Regulation (EU) 2015/1017 Article 18 – paragraph 6 Amendment 127 #
Proposal for a regulation Article 1 – paragraph 1 – point 10 – point a Regulation (EU) 2015/1017 Article 18 – paragraph 6 6. By 30 June 2018
Amendment 128 #
Proposal for a regulation Article 1 – paragraph 1 – point 10 – point b Regulation (EU) 2015/1017 Article 18 – paragraph 7 and 8 Amendment 129 #
Proposal for a regulation Article 1 – paragraph 1 – point 13 a (new) Regulation (EU) 2015/1017 Article 23 – paragraph 5 a (new) (13a) in Article 23, the following paragraph is added: “5a. This Scoreboard shall be public in order to facilitate accountability, transparency and a better understanding of additionally, as defined by Article 3, for all actors.”
Amendment 130 #
Proposal for a regulation Article 2 Amendment 18 #
Proposal for a regulation Recital 1 (1) Since the Investment Plan for Europe was presented in November 20143 , the conditions
Amendment 19 #
Proposal for a regulation Recital 1 (1) Since the Investment Plan for Europe was presented in November 20143, the conditions for an uptake in investment have not improved
Amendment 20 #
Proposal for a regulation Recital 1 (1) Since the Investment Plan for Europe was presented in November 20143 , the conditions for an uptake in investment have improved and confidence in Europe’s economy and growth are returning. The Union is now in its fourth year of moderate recovery, with Gross Domestic Product growing at 2% in 2015. The comprehensive efforts initiated with the Investment Plan are already delivering concrete results, despite the fact that macroeconomic effects of larger investment projects cannot be immediate. Investment is expected to pick up gradually throughout 2016 and 2017 although
Amendment 21 #
Proposal for a regulation Recital 1 (1) Since the Investment Plan for Europe was presented in November 20143 , the conditions for an uptake in investment have improved and confidence in Europe’s economy and growth are returning. The Union is now in its fourth year of moderate recovery, with Gross Domestic Product growing at 2% in 2015.
Amendment 22 #
Proposal for a regulation Recital 2 (2) Th
Amendment 23 #
Proposal for a regulation Recital 2 (2) That positive momentum should be maintained and efforts need to be continued to bring investment back to its long-term sustainable trend.
Amendment 24 #
Proposal for a regulation Recital 2 (2)
Amendment 25 #
Proposal for a regulation Recital 2 (2) That positive momentum should be maintained and efforts need to be continued to bring investment back to its long-term sustainable trend reaching the real economy. The mechanisms of the Investment Plan work and should be reinforced to continue the mobilisation of private investments in sectors important to Europe's future and where market failures or sub-optimal investment situations remain.
Amendment 26 #
Proposal for a regulation Recital 3 (3) On 1 June 2016 the Commission issued a Communication entitled ‘Europe investing again – Taking stock of the Investment Plan for Europe and next steps’ outlining the achievements of the Investment Plan so far and the envisaged next steps, including the extension of the European Fund for Strategic Investments (EFSI) beyond its initial three-year period, the scaling-up of the Small and Medium-
Amendment 27 #
Proposal for a regulation Recital 4 (4)
Amendment 28 #
Proposal for a regulation Recital 4 (4) The EFSI, implemented and co- sponsored by the EIB Group,
Amendment 29 #
Proposal for a regulation Recital 5 Amendment 30 #
Proposal for a regulation Recital 6 (6) The EFSI was established for an initial period of three years and with the aim of mobilising at least EUR 315 billion in investments. Given its
Amendment 31 #
Proposal for a regulation Recital 6 (6) The EFSI was established for an initial period of three years and with the aim of mobilising at least EUR 315 billion in investments.
Amendment 32 #
Proposal for a regulation Recital 6 (6) The EFSI was established, as an emergency plan, for an initial period of three years and with the aim of mobilising at least EUR 315 billion in investments. Given its success, the Commission is committed to the doubling of the EFSI, both in terms of duration and financial capacity. The legal extension covers the period of the current Multiannual Financial Framework and should provide a total of at least half a trillion euro investments by 2020. In order to enhance the firepower of the EFSI even further and reach the aim of doubling the investment target, Member States should also contribute as a matter of priority.
Amendment 33 #
Proposal for a regulation Recital 6 (6) The EFSI was established for an initial period of three years and with the aim of mobilising at least EUR 315 billion in investments.
Amendment 34 #
Proposal for a regulation Recital 7 Amendment 35 #
Proposal for a regulation Recital 7 (7) For the period after 2020, the Commission intends to put forward the necessary proposals to ensure that strategic investment will continue at a sustainable level. A comprehensive impact assessment should be made by the Commission to justify a future proposal.
Amendment 36 #
Proposal for a regulation Recital 8 Amendment 37 #
Proposal for a regulation Recital 8 (8) The extended EFSI should address remaining market failures and sub-optimal investment situations
Amendment 38 #
Proposal for a regulation Recital 8 (8) The extended EFSI should address remaining market failures and sub-optimal investment situations and continue to mobilise private sector financing in investments crucial for Europe’s future job creation – including for the youth –, growth and competitiveness with strengthened additionality. They include investments in the areas of energy, environment and climate action, social and human capital and related infrastructure, the social economy, healthcare, research and innovation, cross-
Amendment 39 #
Proposal for a regulation Recital 8 (8) The extended EFSI should address remaining market failures and sub-optimal investment situations and continue to mobilise private sector financing in investments crucial for Europe’s future job creation – including for the youth –,
Amendment 40 #
Proposal for a regulation Recital 8 (8) The extended EFSI should address remaining market failures and sub-optimal investment situations and continue to mobilise private sector financing in investments crucial for Europe’s future quality job creation – including for the youth –, inclusive growth and competitiveness, enhancing the social and employment impact, with strengthened additionality. They include investments in the areas of energy, environment and climate action, social and human capital and related infrastructure, healthcare, research and innovation, cross-
Amendment 41 #
Proposal for a regulation Recital 8 (8) The extended EFSI should address remaining market failures and sub-optimal investment situations and continue to mobilise private sector financing in investments crucial for Europe’s future job creation – including for the youth –, growth and competitiveness with strengthened additionality. They include investments in the areas of energy, environment and climate action, social and human capital and related infrastructure, healthcare, research and innovation, cross- border and sustainable transport, as well as the digital transformation. The mobilised private sector finance should fully integrate Environmental Social and Governance (ESG) factors into investment strategies. In particular, the contribution of operations supported by the EFSI to achieving the Union's ambitious targets set at the Paris Climate Conference (COP21) should be reinforced. Energy interconnection priority projects and energy efficiency projects should also be increasingly targeted. In addition, EFSI support to motorways should be avoided, unless it is needed to support private investment in transport in cohesion countries or in cross-border transport projects involving at least one cohesion country. For reasons of clarity, although they are already eligible, it should be explicitly laid down that projects in the fields of agriculture, fishery and aquaculture come within the general objectives eligible for EFSI support.
Amendment 42 #
Proposal for a regulation Recital 8 (8) The extended EFSI should address remaining market failures and sub-optimal investment situations and continue to mobilise private sector financing in investments crucial for Europe
Amendment 43 #
Proposal for a regulation Recital 8 a (new) (8a) In addition, it is appropriate to reinforce the social dimension of the EFSI implementation such as education, training and vocational training for skills and lifelong learning, innovation in healthcare and medicines, social services, social housing and childcare.
Amendment 44 #
Proposal for a regulation Recital 9 (9) Additionality, a key feature of the EFSI, needs to be defined more clearly and should be strengthened in the selection of projects. In particular, operations should only be eligible for EFSI support if they address clearly identified market failures or sub-optimal investment situations. Operations in infrastructure under the Infrastructure and Innovation Window linking two or more Member States, including e-infrastructure, should be considered additional given their inherent difficulty and their high added value for the Union.
Amendment 45 #
Proposal for a regulation Recital 9 a (new) (9a) The EFSI should operate in closer conjunction with the Structural Funds and other EU cohesion policy funds. EFSI must not, however, in any way substitute the EU's cohesion policy.
Amendment 46 #
Proposal for a regulation Recital 9 b (new) (9b) The EFSI should neither contradict the achievements of the European Social Fund (ESF), the EU's cohesion policy, especially the achievements of the European Structural and Investment Funds (ESIF), nor contradict the goals of the Europe 2020 strategy.
Amendment 47 #
Proposal for a regulation Recital 10 Amendment 48 #
Proposal for a regulation Recital 10 (10) Due to their potential to increase the efficiency of the EFSI intervention, blending operations combining non- reimbursable forms of support and/or financial instruments from the Union budget,
Amendment 49 #
Proposal for a regulation Recital 10 (10) Due to their potential to increase the efficiency of the EFSI intervention, blending operations combining non- reimbursable forms of support and/or financial instruments from the Union budget, such as those available under the Connecting Europe Facility, and financing from EIB Group, including EIB financing under the EFSI, as well as other investors should be encouraged. Blending aims to enhance the value added of Union
Amendment 50 #
Proposal for a regulation Recital 10 a (new) (10a) At the end of the term of the EFSI, the Commission should present a report showing the Fund’s results, particularly in the area of job creation. Reliable and relevant data should be collected and analysed.
Amendment 51 #
Proposal for a regulation Recital 11 (11) In
Amendment 52 #
Proposal for a regulation Recital 11 (11) In order to reinforce the take-up of the EFSI, particularly in European areas with high levels of unemployment and in less-developed and transition are
Amendment 53 #
Proposal for a regulation Recital 11 (11) In order to reinforce the take-up of the EFSI in less-developed and transition regions, the scope of the general objectives eligible for EFSI support should be enlarged and technical and administrative support to these regions should be enhanced. Regional cohesion should become a transversal goal of EFSI in order to obtain a balanced selection of projects.
Amendment 54 #
Proposal for a regulation Recital 11 (11) In order to reinforce the take-up of the EFSI in less-developed and transition regions, the scope of the general objectives eligible for EFSI support should be enlarged, and a strategy for the better promotion of EFSI financing, capacity building and local technical assistance in the above mentioned regions should be developed and duly implemented.
Amendment 55 #
Proposal for a regulation Recital 11 a (new) (11a) Social cohesion should become an explicit goal of EFSI management. This should be achieved by targeting investments to those regions with highest levels of unemployment or poverty, and by ensuring workers engaged are employed in compliance with the social rights recognised by the EU Charter of Fundamental Rights and in line with the principles of the European Social Charter, as well as the relevant labour law or collective agreements of the respective Member States.
Amendment 56 #
Proposal for a regulation Recital 11 a (new) (11a) The initial results reveal that Member States with greater technical and administrative capacity as well as financial institutions are taking greater advantage of the EFSI. In order to enhance the capacity of some countries in taking advantage of the EFSI, the EIB and the Commission should work further to support those lagging behind.
Amendment 57 #
Proposal for a regulation Recital 12 (12) For the full investment period, the Union should provide a Union guarantee (the 'EU guarantee') which should not, at any time, exceed EUR
Amendment 58 #
Proposal for a regulation Recital 13 Amendment 59 #
Proposal for a regulation Recital 13 Amendment 60 #
Proposal for a regulation Recital 14 Amendment 61 #
Proposal for a regulation Recital 14 (14) In order to partly finance the contribution from the general budget of the Union to the EU guarantee fund for the additional investments to be made
Amendment 62 #
Proposal for a regulation Recital 15 (15)
Amendment 63 #
Proposal for a regulation Recital 16 (16) In line with the exceptional market demand for SME financing under the EFSI which is expected to continue, the EFSI SME Window should be enhanced. Particular attention should be paid to social enterprises and social services, including through the development and deployment of new instruments adequate for the sector's needs and specificities.
Amendment 64 #
Proposal for a regulation Recital 17 (17) The EIB and the EIF should ensure that all the final beneficiaries
Amendment 65 #
Proposal for a regulation Recital 17 a (new) (17a) Major information campaigns in Member States must be put in place to strengthen dialogue with national and local authorities which would allow to increase private investment and avoid regional and sectorial concentration.
Amendment 66 #
Proposal for a regulation Recital 18 (18) With a view to enhancing the transparency of EFSI operations, the Investment Committee should explain in its decisions, which are made public and accessible, the reasons why it deems that an operation should be granted the EU guarantee, with particular focus on compliance with the additionality criterion, as well as performance indicators such as quality job creation, both direct and indirect. The scoreboard of indicators should be made public once an operation under the EU guarantee is signed.
Amendment 67 #
Proposal for a regulation Recital 18 (18) With a view to enhancing the transparency of EFSI operations, the Investment Committee should explain in its decisions, which are made public and accessible, the reasons why it deems that an operation should be granted the EU guarantee, with particular focus on compliance with the additionality criterion. The scoreboard of indicators should be made public once an operation under the EU guarantee is
Amendment 68 #
Proposal for a regulation Recital 18 (18) With a view to enhancing the transparency of EFSI operations, the Investment Committee should explain in its decisions, which are made public and accessible, the reasons why it deems that an operation should be granted the EU guarantee, with particular focus on compliance with the additionality criterion. The scoreboard of indicators should be made public once an operation under the EU guarantee is signed. Particular attention should be given to job creation and social investment in people's current and future capacities to engage in the labour market, using clear socio- economic indicators.
Amendment 69 #
Proposal for a regulation Recital 18 a (new) (18a) New figures and updates should be released regularly, including independent assessments drawing on the experience collected so far. Targets should be set in terms of objectives relating to growth and jobs.
Amendment 70 #
Proposal for a regulation Recital 19 (19) The operations supported by the EFSI should adhere to the Union's principles of tax good governance and the broader strategy on sustainable finance.
Amendment 71 #
Proposal for a regulation Recital 19 (19) The operations supported by the EFSI should adhere to the Union's principles of tax good governance and its social acquis.
Amendment 72 #
Proposal for a regulation Recital 21 (21) The European Investment Advisory Hub (EIAH) should be enhanced and its activities should focus on needs not covered adequately under current
Amendment 73 #
Proposal for a regulation Recital 21 (21) The European Investment Advisory Hub (EIAH) should be enhanced and its activities should focus on needs not covered adequately under current arrangements
Amendment 74 #
Proposal for a regulation Recital 21 (21) The European Investment Advisory Hub (EIAH) should be enhanced and its activities should focus on needs not covered adequately under current arrangements. It should pay particular attention to supporting the preparation of projects involving two or more Member States, cross-border projects and projects that contribute to achieving the objectives of COP21. Notwithstanding its objective to build upon existing advisory services of the EIB and the Commission, so to act as a single technical advisory hub for project financing within the Union, the EIAH should also contribute actively to the objective of sectorial and geographical diversification of the EFSI and support the EIB where needed in originating projects. It should also actively contribute to the
Amendment 75 #
Proposal for a regulation Recital 21 (21) The European Investment Advisory Hub (EIAH) should be enhanced and its activities should focus on needs not covered adequately under current arrangements. It should pay particular attention to supporting the preparation of projects involving two or more Member States and projects that contribute to achieving the objectives of COP21 and the Europe 2020 strategy, including tackling poverty and social exclusion. Notwithstanding its objective to build upon existing advisory services of the EIB and the Commission, so to act as a single technical advisory hub for project financing within the Union, the EIAH should also contribute actively to the objective of sectorial and geographical diversification of the EFSI and support the EIB where needed in originating projects. It should also actively contribute to the establishment of investment platforms, including sectorial ones, and provide advice on the combination of other sources of Union funding with the EFSI.
Amendment 76 #
Proposal for a regulation Recital 21 (21) The European Investment Advisory Hub (EIAH) should be enhanced and its activities should focus on needs not covered adequately under current arrangements. It should pay particular attention to supporting the preparation of projects involving two or more Member States and projects that contribute to achieving the objectives of COP21 and of Europe 2020 strategy. Notwithstanding its objective to build upon existing advisory services of the EIB and the Commission, so to act as a single technical advisory hub for project financing within the Union, the EIAH should also contribute actively to the objective of sectorial and geographical diversification of the EFSI and support the EIB where needed in originating projects. It should also actively contribute to the establishment of investment platforms and provide advice on the combination of other sources of Union funding with the EFSI.
Amendment 77 #
Proposal for a regulation Recital 21 (21) The European Investment Advisory Hub (EIAH) should be enhanced and its activities should focus on needs not covered adequately under current arrangements. It should pay particular attention to supporting the preparation of projects involving two or more Member States and projects that contribute to achieving the objectives of COP21. Notwithstanding its objective to build upon existing advisory services of the EIB and the Commission, so to act as a single technical advisory hub for project financing within the Union, the EIAH should also contribute actively to the objective of sectorial and geographical diversification of the EFSI and support the EIB where needed in originating projects. When providing advisory services, the EIAH should take due regard of the Equator Principles on managing environmental and social risk. It should also actively contribute to the establishment of investment platforms and provide advice on the combination of other sources of Union funding with the EFSI.
Amendment 78 #
Proposal for a regulation Recital 22 a (new) (22a) A precise quali-quantitative analysis of the results should be published by 2018 at the latest with a special focus on the number of jobs created and the impacts of EFSI investments on direct and indirect jobs.
Amendment 79 #
Proposal for a regulation Article 1 –paragraph 1 – point - 1 (new) Regulation (EU) 2015/1017 Article 2 – point 8 a (new) -1 In Article 2, the following point is added: (8a) ‘social enterprise’ means an operator in the social economy whose main objective is to have a positive social impact and whose profits are reinvested in its social mission;
Amendment 80 #
Proposal for a regulation Article 1 – paragraph 1 – point 1 – point -a (new) Regulation (EU) 2015/1017 Article 4 – paragraph 2 – point a – point i (-a) Article 4(2) point (i) is replaced by the following: (i) the establishment of the EFSI as a distinct, clearly identifiable, with its own logo, and transparent facility and as a separate account managed by the EIB, the operations of which are clearly distinguished from other operations of the EIB;
Amendment 81 #
Proposal for a regulation Article 1 – paragraph 1 – point 1 – point a Regulation (EU) 2015/1017 Article 4 – paragraph 2 – point a – point ii Amendment 82 #
Proposal for a regulation Article 1 – paragraph 1 – point 1 – point b a (new) Regulation (EU) 2015/1017 Article 4 – paragraph 2 – point f – point iv (ba) in point (f), point (iv) is replaced by the following: (iv) key performance indicators, in particular as regards the use of the EU guarantee, the fulfilment of the objectives and criteria laid down in Articles 6 and 9 and Annex II, the mobilisation of private capital, and the macro
Amendment 83 #
Proposal for a regulation Article 1 – paragraph 1 – point 2 Regulation (EU) 2015/1017 Article 5 – paragraph 1 –subparagraph 3 To better address market failures or sub- optimal investment situations, EIB special activities supported by the EFSI shall t
Amendment 84 #
Proposal for a regulation Article 1 – paragraph 1 – point 2 Regulation (EU) 2015/1017 Article 5 – paragraph 1 –subparagraph 5 Amendment 85 #
Proposal for a regulation Article 1 – paragraph 1 – point 2 Regulation (EU) 2015/1017 Article 5 – paragraph 1 –subparagraph 5 Amendment 86 #
Proposal for a regulation Article 1 – paragraph 1 – point 3 Regulation (EU) 2015/1017 Article 6 – paragraph 1 – introductory part 1. The EFSI Agreement shall provide that the EFSI is to support projects which address market failures or sub-optimal investment situations or have need for high investment to improve delivery on Union policies and which:
Amendment 87 #
Proposal for a regulation Article 1 – paragraph 1 – point 3 Regulation (EU) 2015/1017 Article 6 – paragraph 1 – introductory part 1. The EFSI Agreement shall provide that the EFSI is to support projects which reach real economy and address market failures or sub-optimal investment situations and which:;
Amendment 88 #
Proposal for a regulation Article 1 – paragraph 1 – point 3 a (new) Regulation (EU) 2015/1017 Article 6 – paragraph 1 – point b (3a) In Article 6(1), point (b) is replaced by the following: (b) are consistent with Union policies, including the objective of smart, sustainable and inclusive growth, quality job creation, and economic, social and
Amendment 89 #
Proposal for a regulation Article 1 – paragraph 1 – point 4 – point -a (new) Regulation (EU) 2015/1017 Article 7 – paragraph 3 – subparagraph 1 (-a) Article 7(3) is replaced by the following: 3. The Steering Board shall comprise four members: three appointed by the Commission, one from ECFIN and the other two, alternating, from relevant DGs, and one by the EIB. The Steering Board shall elect a Chairperson from among its members for a fixed term of three years, renewable once. The Steering Board shall take its decisions by consensus.
Amendment 90 #
Proposal for a regulation Article 1 – paragraph 1 – point 4 – point a – point -i (new) Regulation (EU) 2015/1017 Article 7 – paragraph 8 – point a a (new) (-i) In Article 7(8), the following point is added: “ (aa) technologies related to security and defence industries;”
Amendment 91 #
Proposal for a regulation Article 1 – paragraph 1 – point 4 – point a – point -i (new) Regulation (EU) 2015/1017 Article 7 – paragraph 8 – point a a (new) (-i) In Article 7(8), the following point is added: “(aa) public procurement;”
Amendment 92 #
Proposal for a regulation Article 1 – paragraph 1 – point 4 – point a – point i a (new) Regulation (EU) 2015/1017 Article 7 – paragraph 8 – point f (
Amendment 93 #
Proposal for a regulation Article 1 – paragraph 1 – point 4 – point a – point i a (new) (ia) point (k) is replaced by the following: (k) social infrastructures, social services and the social and solidarity economy
Amendment 94 #
Proposal for a regulation Article 1 – paragraph 1 – point 4 – point d Regulation (EU) 2015/1017 Article 7 – paragraph 12 12. Decisions approving the use of the EU guarantee shall be made public and accessible without delay, and include the rationale for the decision based on the projects scoreboard, with particular focus on compliance with the additionality criterion. The publication shall not contain commercially sensitive information. In reaching its decision, the Investment Committee shall be supported by the documentation provided by the EIB.;
Amendment 95 #
Proposal for a regulation Article 1 – paragraph 1 – point 5 – point -a (new) Regulation (EU) 2015/1017 Article 9 – paragraph 2 – point d (-a) in paragraph 2 point (d) is replaced by the following: (d) financial support through the E
Amendment 96 #
Proposal for a regulation Article 1 – paragraph 1 – point 5 – point - a (new) Regulation (EU) 2015/1017 Article 9 – paragraph 2 – point g – point i (
Amendment 97 #
Proposal for a regulation Article 1 – paragraph 1 – point 5 – point -a (new) Regulation (EU) 2015/1017 Article 9 – paragraph 2 – point g – point v (
Amendment 98 #
Proposal for a regulation Article 1 – paragraph 1 – point 5 – point a Regulation (EU) 2015/1017 Article 9 – paragraph 2 – point h a (new) (ha) technologies related to security and defence industries;
Amendment 99 #
Proposal for a regulation Article 1 – paragraph 1 – point 5 – point a Regulation (EU) 2015/1017 Article 9 – paragraph 2 – point h a (new) (ha) technologies related to security and defence industries;
source: 597.727
2017/02/08
TRAN
89 amendments...
Amendment 100 #
Proposal for a regulation Article 1 – paragraph 1 – point 9 a (new) Regulation (EU) 2015/1017 Article 16 – paragraph 6 a (new) (9a) in Article 16, the following paragraph is added: '6a. The Commission shall submit an annual report listing the details of all transport projects that received EU supported through the EFSI fund clearly indicating the corresponding amounts.'
Amendment 101 #
Proposal for a regulation Article 1 – paragraph 1 – point 9 a (new) Regulation (EU) 2015/1017 Article 17 a (new) Amendment 102 #
Proposal for a regulation Article 1 – paragraph 1 – point 11 Regulation (EU) 2015/1017 Article 19 'The EIB and EIF shall inform
Amendment 103 #
Proposal for a regulation Article 1 – paragraph 1 – point 13 Regulation (EU) 2015/1017 Article 23 – paragraph 2 'The power to adopt delegated acts referred to in Article 7(13) and (14) shall be conferred on the Commission for a period of five years from 4 July 2015. The Commission shall draw up a report in respect of the delegation of power not later than nine months before the end of the five-year period
Amendment 104 #
Proposal for a regulation Annex – point 1 – point a Amendment 105 #
Proposal for a regulation Annex – point 1 – point a Regulation (EU) 2015/1017 Annex II – section 2 – point b – subparagraph 1 a 'EFSI support to motorways
Amendment 106 #
Proposal for a regulation Annex – point 1 – point a Regulation (EU) 2015/1017 Annex II – section 2 – point b – subparagraph 1 a 'EFSI support to motorways shall be avoided
Amendment 107 #
Proposal for a regulation Annex – point 1 – point a Regulation (EU) 2015/1017 Annex II – section 2 – point b – subparagraph 1 a 'EFSI support to motorways shall be avoided, unless it is needed to support private investment in transport in cohesion countries or in cross-border transport projects
Amendment 108 #
Proposal for a regulation Annex – point 1 – point a Regulation (EU) 2015/1017 Annex II – section 2 – point b – subparagraph 1 a 'EFSI support to motorways shall be avoided, unless it is needed to support public or private investment in transport in cohesion countries or in cross-border transport projects involving at least one cohesion country.';
Amendment 109 #
Proposal for a regulation Annex – point 1 – point a Regulation (EU) 2015/1017 Annex II – section 2 – point b – subparagraph 1 b (new) 'EFSI support shall explicitly also be possible for the maintenance and upgrading of existing transport infrastructure;'
Amendment 110 #
Proposal for a regulation Annex – point 1 – point a Regulation (EU) 2015/1017 Annex II – section 2 – point b – subparagraph 1 b (new) 'EFSI support to airport infrastructure shall be avoided;'
Amendment 111 #
Proposal for a regulation Annex – point 3 Regulation (EU) 2015/1017 Annex II – section 5 'The scoreboard shall be made public as soon as an operation under the EU guarantee is signed approved, with the exclusion of commercially sensitive information
Amendment 23 #
Proposal for a regulation – The Committee on Transport and Tourism calls on the lead Committees responsible, to propose rejection of the Commission proposal.
Amendment 24 #
Proposal for a regulation Citation 5 a (new) Having regard to Article 18(7), points (b) and (c) of Regulation (EU) 2015/1017 on the European Fund for Strategic Investments1a; __________________ 1aRegulation (EU) 2015/1017 of the European Parliament and The Council of 25 June 2015 on the European Fund for Strategic Investments, the European Investment Advisory Hub and the European Investment Project Portal and amending Regulations (EU) No 1291/2013 and (EU) No 1316/2013;
Amendment 25 #
Proposal for a regulation Citation 5 b (new) Having regard to the Opinion 2/2016 concerning the Proposal for a Regulation of the European Parliament and of the Council amending Regulations (EU) 1316/2013 and 2015/1017 adopted by the European Court of Auditors on 11 November 2016 1a , concluding that there is little evidential base for the proposal to extend and increase EFSI, namely because: (i) the proposal is launched without a comprehensive impact assessment and too soon for the economic, social and environmental impacts to be measured and to enable a conclusion whether EFSI is achieving its objectives; (ii) it does not respect the better regulation principles; (iii) there is a clear risk of exaggerating the achieved results and impacts; (iv) there is a risk of creating incentives to use unnecessarily complex financing structures or to allocate a risk profile that does not correspond to the real risk of the operation; (v) there is a recognized need to act on geographical imbalances and sectorial concentration; (vi) there is a recognized need for increasing transparency and clarity both in the EFSI governance and in the selection of EFSI operations; _________________ 1aOpinion pursuant to Article 287(4) of the Treaty on the Functioning of the European Union (TFEU)
Amendment 26 #
Proposal for a regulation Recital 1 (1) Since the Investment Plan for Europe was presented in November 20143, the conditions for an uptake in investment have not actually improved, and confidence in Europe’s economy and growth are not returning. The Union is now in its fourth year of
Amendment 27 #
Proposal for a regulation Recital 2 (2)
Amendment 28 #
Proposal for a regulation Recital 2 a (new) (2a) Efforts are needed to increase investments by ensuring greater transparency and better media coverage, by providing technical assistance at any stage of the project and encouraging the smarter use of financial resources.
Amendment 29 #
(6) The EFSI was established for an initial period of three years and with the aim of mobilising at least EUR 315 billion in investments.
Amendment 30 #
Proposal for a regulation Recital 6 (6) The EFSI was established for an initial period of three years and with the aim of mobilising at least EUR 315 billion in investments.
Amendment 31 #
Proposal for a regulation Recital 6 a (new) (6a) On 11 November 2016, the European Court of Auditors concluded that it was still too soon for the economic, social and environmental impacts to be measured or for a conclusion to be drawn as to whether EFSI was achieving its objectives. A comprehensive impact assessment shall provide for the necessary evidence whether or not the EFSI should be extended.
Amendment 32 #
Proposal for a regulation Recital 7 (7) For the period after 2020, the Commission intends to put forward the necessary proposals to ensure that strategic investment will continue at a sustainable level, which should take account of the economic, social and environmental impact thereof.
Amendment 33 #
Proposal for a regulation Recital 7 a (new) (7a) The strict implementation of the Stability and Growth Pact needs to be respected as it affects in no way the ability to utilise EFSI.
Amendment 34 #
Proposal for a regulation Recital 8 (8) The extended EFSI should address remaining market failures and sub-optimal investment situations and continue to mobilise private sector financing in investments crucial for Europe’s future job creation – including for the youth –, growth and competitiveness with strengthened additionality. They include investments in the areas of energy, the environment
Amendment 35 #
Proposal for a regulation Recital 8 (8) The extended EFSI should address
Amendment 36 #
Proposal for a regulation Recital 8 (8) The extended EFSI should address remaining market failures and sub-optimal investment situations and continue to mobilise private sector financing in investments crucial for Europe’s future job creation – including for the youth –, growth and competitiveness with strengthened additionality. They include investments in the areas of energy, environment and climate action, social and human capital and related infrastructure, healthcare, research and innovation, cross- border and sustainable transport, as well as the digital transformation. In particular, the contribution of operations supported by the EFSI to achieving the Union's ambitious targets set at the Paris Climate Conference (COP21) should be reinforced. Energy interconnection priority projects and energy efficiency projects should also be increasingly targeted.
Amendment 37 #
Proposal for a regulation Recital 8 (8) The extended EFSI should address remaining market failures and sub-optimal investment situations and continue to mobilise private sector financing in investments crucial for Europe’s future job creation – including for the youth –, growth and competitiveness with strengthened additionality. They include investments in the areas of energy, environment and climate action, social and human capital and related infrastructure, healthcare, research and innovation, cross- border and
Amendment 38 #
Proposal for a regulation Recital 8 (8) The extended EFSI should address remaining market failures and sub-optimal investment situations and continue to mobilise private sector financing in investments crucial for Europe’s future job creation – including for the youth –, growth and competitiveness with strengthened additionality. They include investments in the areas of energy, environment and climate action, social and human capital and related infrastructure, healthcare, research and innovation, cross- border and sustainable transport, as well as the digital transformation. In particular, the contribution of operations supported by the EFSI to achieving the Union's ambitious targets set at the Paris Climate Conference (COP21) should be reinforced. Energy interconnection priority projects and energy efficiency projects should also be increasingly targeted. In addition, EFSI support to motorways should be avoided,
Amendment 39 #
Proposal for a regulation Recital 8 (8) The extended EFSI should address
Amendment 40 #
Proposal for a regulation Recital 8 a (new) (8a) In its EFSI-supported special activities the EIB makes systematic use of participation in risk-sharing instruments with its co-investors. The EIB is therefore called upon, as part of those activities, to intervene by providing first loss guarantees, where necessary and relevant, in order to optimise the additionality of the EFSI facility and mobilise more private funds.
Amendment 41 #
Proposal for a regulation Recital 8 a (new) (8a) So as to improve the implementation of the EFSI as regards the financing of sustainable transport infrastructure and to guarantee the principle of additionality, account needs to be taken of the specific characteristics of investments in transport infrastructure, the economic profitability of which is sometimes uncertain, meaning that private investors can be put off.
Amendment 42 #
Proposal for a regulation Recital 9 (9) Additionality, a key feature of the EFSI, should be strengthened in the selection of projects. In
Amendment 43 #
Proposal for a regulation Recital 9 (9) Additionality, a key feature of the EFSI, should be strengthened in the selection of projects. In particular, operations should only be eligible for EFSI support if they address clearly identified market failures or sub-optimal investment situations and support the Fund's other objectives including strengthening the Union's economic, social and territorial cohesion. Operations in infrastructure under the Infrastructure and Innovation Window linking two or more Member States, including e-infrastructure, should be considered additional given their inherent difficulty and their high added value for the Union.
Amendment 44 #
Proposal for a regulation Recital 9 (9) Additionality, a key feature of the EFSI, should be strengthened in the selection of projects. In particular, operations should only be eligible for EFSI support if they address clearly identified market failures or sub-optimal investment situations. Operations in infrastructure under the Infrastructure and Innovation Window linking two or more Member States, including e-infrastructure such as ERTMS, should be considered additional given their inherent difficulty and their high added value for the Union.
Amendment 45 #
Proposal for a regulation Recital 10 (10) Due to their potential to increase the efficiency of the EFSI intervention, blending operations combining non- reimbursable forms of support and/or financial instruments from the Union budget, such as those available under the Connecting Europe Facility, European Structural and Investment Funds and financing from EIB Group, including EIB financing under the EFSI, as well as other investors should be encouraged. Blending aims to enhance the value added of Union spending by attracting additional resources from private investors and to ensure the actions supported become economically
Amendment 46 #
Proposal for a regulation Recital 10 a (new) (10a) EFSI should seek to contribute to strengthening the Union's economic, social and territorial cohesion by means of geographical diversification. Currently, EFSI's aggregated portfolio of investments is highly concentrated (92%) in the EU-15 and under-serves (8%) the EU-13, while considerable sectoral concentration benefits particular states. Such a situation if continued will deepen development gaps and market fragmentation between different parts of the EU, undermining the aims of EU Regional Policy.
Amendment 47 #
Proposal for a regulation Recital 10 a (new) (10a) In order to improve the performance of the EFSI at both national and regional level, there is a need to step up cooperation between the EIB, which steers the EFSI, and the national promotional banks.
Amendment 48 #
Proposal for a regulation Recital 10 b (new) (10b) The rules in force on flexibility and the implementation of the stability and growth pact1a restrict the Member States’ capabilities – under the preventive, and particularly the corrective, arm of the pact – to co-finance projects that are also co-financed by the EFSI. There needs to be general interinstitutional debate on whether or not to change the way in which those indirect national contributions are treated in the Commission’s application of the pact. _________________ 1a COM(2015)12 final
Amendment 49 #
Proposal for a regulation Recital 11 (11) In order to reinforce the take-up of the EFSI in less-developed and transition regions and to correct EFSI's current underserving of the EU-13 countries, the scope of the general objectives eligible for EFSI support should be enlarged.
Amendment 50 #
Proposal for a regulation Recital 11 (11) In order to reinforce the take-up of the EFSI in less-developed and transition regions, the scope of the general objectives eligible for EFSI support should be enlarged, while at the same time selection criteria should be established in line with the development targets proposed for these regions.
Amendment 51 #
Proposal for a regulation Recital 11 (11) In order to reinforce the take-up of the EFSI in less-developed, outermost and transition regions, the scope of the general objectives eligible for EFSI support should be enlarged.
Amendment 52 #
Proposal for a regulation Recital 11 a (new) (11a) To increase EFSI take-up in less developed regions, it will be necessary to provide wider media coverage on means of accessing available funding, secure EIB regional or local assistance for project development and implementation and encourage public-private partnerships on a wider basis.
Amendment 53 #
Proposal for a regulation Recital 11 a (new) (11a) Projects should be rooted in, and carried out in cooperation with, the local and regional level in order to ensure optimum conditions for sustainability and success.
Amendment 54 #
Proposal for a regulation Recital 14 (14) In order to
Amendment 55 #
Proposal for a regulation Recital 14 (14) In order to partly finance the contribution from the general budget of the Union to the EU guarantee fund for the additional investments to be made, a transfer should be made from the available envelope of the Connecting Europe Facility (CEF), provided for in Regulation (EU) No 1316/2013 of the European Parliament and of the Council4. However, the appropriations from this transfer will hopefully be assigned primarily to infrastructure and transport projects. Moreover, EUR 1 145 797 000 of appropriations should be transferred from the CEF financial instruments to the grant part of the CEF with a view to facilitating blending with the EFSI or to other relevant instruments, in particular those dedicated to energy efficiency.
Amendment 56 #
Proposal for a regulation Recital 16 (16) In line with the exceptional market demand for SME financing under the EFSI which is expected to continue, the EFSI SME Window should be enhanced, while avoiding geographical imbalances with regard to funding requirements. Particular attention should be paid to social enterprises, including through the development and deployment of new instruments.
Amendment 57 #
Proposal for a regulation Recital 16 a (new) (16a) The first year of experience shows that the EFSI has been effective in increasing the volume of EIB special activities in favour of SMEs and mid-cap companies but has not been successful in boosting the volume of transport and mobility projects to a sufficient extent, especially in the Eastern EU countries. It is therefore necessary to adopt further measures to better address the difficulties faced by Member States and project promoters in proposing infrastructure projects, in particular transport projects contributing to the achievement of climate change objectives.
Amendment 58 #
Proposal for a regulation Recital 16 a (new) (16a) EFSI has been effective in increasing the volume of EIB special activities in favour of SMEs, but has not been successful in boosting the volume of transport projects to a sufficient extent. Give, the high EU added value of transport projects and huge investments needs, especially prevalent in less- developed states, it is therefore necessary to adopt further measures to better address the difficulties faced by Member States and project promoters in proposing infrastructure projects.
Amendment 59 #
Proposal for a regulation Recital 16 b (new) (16b) Transport projects tend to be difficult to finance, because of lower return rates, long-term horizon of investments and higher levels of risk. In order to reduce the present sectorial imbalance of projects being financed by the EFSI and to tackle the problem of sub-optimal investments in transport infrastructure in the EU, the EIAH, together with the Commission, should establish specific arrangements that would facilitate the blending of the EFSI with grants or other public financing available from the Union or national budgets in a simplified and less- bureaucratic manner.
Amendment 60 #
Proposal for a regulation Recital 18 (18) With a view to enhancing the transparency of EFSI operations, the Investment Committee should explain in its decisions, which are made public and accessible, the reasons why it deems that an operation should be granted the EU guarantee, with particular focus on compliance with the additionality criterion. The scoreboard of indicators should be made public once an operation under the EU guarantee is
Amendment 61 #
Proposal for a regulation Recital 17 (17) The EIB and the EIF should publicise the EFSI in order to raise the profile of this important instrument. They should also ensure that the final beneficiaries, including SMEs, are informed of the existence of EFSI support, so as to enhance the visibility of the EU guarantee granted under Regulation (EU) 2015/1017.
Amendment 62 #
Proposal for a regulation Recital 19 (19) The operations supported by the EFSI should adhere to the Union's principles of tax good governance, given the need for a safer approach to prevent the fraudulent use thereof.
Amendment 63 #
Proposal for a regulation Recital 21 (21) The European Investment Advisory Hub (EIAH) should be enhanced and its activities should focus on needs not covered adequately under current arrangements.
Amendment 64 #
Proposal for a regulation Recital 21 (21) The European Investment Advisory Hub (EIAH) should be enhanced and its activities should focus on needs, sectors and regions not covered adequately under current arrangements. It should pay particular
Amendment 65 #
Proposal for a regulation Recital 21 (21) The European Investment Advisory Hub (EIAH) should be enhanced and its activities should focus on needs not covered adequately under current arrangements. It should pay particular attention to supporting the preparation of projects involving two or more Member States and projects that contribute to achieving the objectives of COP21. Notwithstanding its objective to build upon existing advisory services of the EIB and the Commission, so to act as a single
Amendment 66 #
Proposal for a regulation Recital 21 a (new) (21a) Since lack of structural reforms constitutes the greatest barrier to investment, approval of EFSI support should also be tied to successful developments in economic and fiscal policy in the context of the European Semester;
Amendment 67 #
Proposal for a regulation Recital 21 b (new) (21b) Where an applicant for EFSI support is a public body, the investment shall be clearly entered under the national debt balance, with consideration being given to the possibility of a multiannual settlement period;
Amendment 68 #
Proposal for a regulation Article 1 – paragraph -1 (new) -1. Taking into account the explicit mandate on article 18(7) of the EFSI Regulation and the serious risks and weaknesses pointed out by the European Court of Auditors in its Opinion 2/20161a, the Committee on Transport and Tourism calls on the Committee on Economic and Monetary Affairs, as the committee responsible, to propose rejection of the Commission proposal. The Committee on Transport and Tourism calls on the Commission to carry a comprehensive and cross-sectorial assessment of the EFSI economic, social, environmental and geographical impacts, to explore alternative policy options and only deliver a new proposal for the extension of EFSI if an added value can be objectively proved, taking into account the current context of limited financial resources. Innovative tools for a more effective investment policy in the EU, such as the introduction of mandatory climate action compatibility check applying to every operation prior to its approval, must also be taken into consideration.1a; _________________ 1aRegulation(EU) 2015/1017 of the European Parliament and The Council of 25 June 2015 on the European Fund for Strategic Investments, the European Investment Advisory Hub and the European Investment Project Portal and amending Regulations (EU) No 1291/2013 and (EU) No 1316/2013;
Amendment 69 #
Proposal for a regulation Article 1 – paragraph 1 – point 2 Regulation (EU) 2015/1017 Article 5 – paragraph 1 – subparagraph 3 'To better address market failures or sub- optimal investment situations, EIB special activities supported by the EFSI shall
Amendment 70 #
Proposal for a regulation Article 1 – paragraph 1 – point 2 Regulation (EU) 2015/1017 Amendment 71 #
Proposal for a regulation Article 1 – paragraph 1 – point 2 Regulation (EU) 2015/1017 Article 5 – paragraph 1 – subparagraph 5 Amendment 72 #
Proposal for a regulation Article 1 – paragraph 1 – point 2 Regulation (EU) 2015/1017 Article 5 – paragraph 1 – subparagraph 5 The projects supported by the EFSI that consist of physical infrastructure linking two or more Member States or of the extension of physical infrastructure or services linked to physical infrastructure from one Member State to one or more Member States
Amendment 73 #
Proposal for a regulation Article 1 – paragraph 1 – point 3 a (new) Regulation (EU) 2015/1017 Article 6 – paragraph 1 – point e a (new) (3a) In Article 6(1), the following point (f) is added: ‘(f) are less likely to attract funding from other sources and, at the same time, have a significant social impact.’
Amendment 74 #
Proposal for a regulation Article 1 – paragraph 1 – point 3 a (new) Regulation (EU) 2015/1017 Article 6 – paragraph 2 – subparagraph 1 a (new) (3a) The following is added to Article 6(2): ‘Smaller projects and investments shall receive EFSI support, taking additionality into account and in close cooperation with national promotional banks.’
Amendment 75 #
Proposal for a regulation Article 1 – paragraph 1 – point 4 – point -a (new) Regulation (EU) 2015/1017 Article 7 – paragraph 2 – introductory part (-a) In Article 7(2), the introductory wording is amended as follows: ‘2. The EFSI Agreement shall provide that the EFSI is to be governed by a steering board, which, for the purpose of the use of the EU guarantee, is to determine, in conformity with the general objectives set out in Article 9(2)
Amendment 76 #
(-aa) Article 7(3) is amended as follows: ‘3. The Steering Board shall comprise four members: three appointed by the Commission and one by the EIB. The Steering Board shall elect a Chairperson from among its members for a fixed term of three years, renewable once. The Steering Board shall take its decisions by consensus
Amendment 77 #
Proposal for a regulation Article 1 – paragraph 1 – point 4 – point -a b (new) Regulation (EU) 2015/1017 Article 7 – paragraph 4 (-ab) Article 7(4) is amended as follows: ‘4. Member States and other third parties may - subject in the case of other third parties to the agreement of the Steering Board - contribute to the EFSI in the form of guarantees or cash as regards Member States, and
Amendment 78 #
Proposal for a regulation Article 1 – paragraph 1 – point 4 – point -a c (new) Regulation (EU) 2015/1017 Article 7 – paragraph 5 – subparagraph 1 (
Amendment 79 #
Proposal for a regulation Article 1 – paragraph 1 – point 4 – point -a (new) Regulation (EU) 2015/1017 Article 7 – paragraph 7 – subparagraph 1 a (new) (aa) Article 7 is amended as follows: the following paragraph 7a is inserted: ‘The Investment Committee shall ensure there is synergy between the European Fund for Strategic Investments and the Structural Funds, the Connecting Europe facility and the Horizon 2020 programme in order to encourage combined financing and enhance the leveraging effect of European investments, particularly in transport.’
Amendment 80 #
Proposal for a regulation Article 1 – paragraph 1 – point 4 – point -a d (new) Regulation (EU) 2015/1017 Article 7 – paragraph 8 – subparagraph 1 (
Amendment 81 #
Proposal for a regulation Article 1 – paragraph 1 – point 4 – point a – point ii Regulation (EU) 2015/1017 Article 7 – paragraph 8 – point l Amendment 82 #
Proposal for a regulation Article 1 – paragraph 1 – point 4 – point a – point ii a (new) Regulation (EU) 2015/1017 Article 7 – paragraph 8 – point k a (new) (iia) the following point (ka) is added: ‘(ka) defence.’;
Amendment 83 #
Proposal for a regulation Article 1 – paragraph 1 – point 5 – point a Regulation (EU) 2015/1017 Article 9 – paragraph 2 – point h Amendment 84 #
Proposal for a regulation Article 1 – paragraph 1 – point 5 – point a a (new) Regulation (EU) 2015/1017 Article 9 – paragraph 2 – point i a (new) (aa) In paragraph 2, the following point (ia) is added: ‘(ia) support for EU initiatives in the defence sector, in particular via: (i) research and development at EU level; (ii) the development of the EU’s defence capabilities; (iii) SMEs and mid-caps in the field of defence;’
Amendment 85 #
Proposal for a regulation Article 1 – paragraph 1 – point 5 – point b Regulation (EU) 2015/1017 Article 9 – paragraph 2 – subparagraph 1 a 'The EIB shall target that at least
Amendment 86 #
Proposal for a regulation Article 1 – paragraph 1 – point 5 – point b Regulation (EU) 2015/1017 Article 9 – paragraph 2 – subparagraph 1 a ‘The EIB shall target that at least
Amendment 87 #
Proposal for a regulation Article 1 – paragraph 1 – point 5 – point b Regulation (EU) 2015/1017 Article 9 – paragraph 2 – subparagraph 1 a 'The EIB shall target that at least 40 % of EFSI financing under the infrastructure and innovation window supports projects with components that contribute to climate action, in line with the COP21 commitments. In particular, the EIB shall target that at least 20% of the EFSI financing supports projects related to development of transport infrastructures, and equipment and innovative technologies for transport, falling under point (c). Moreover, the EIB shall strive to achieve a fair geographical distribution of investments between Member States. The Steering Board shall provide detailed guidance to that end
Amendment 88 #
Proposal for a regulation Article 1 – paragraph 1 – point 5 – point b Regulation (EU) 2015/1017 Article 9 – paragraph 2 – subparagraph 1 a The EIB shall
Amendment 89 #
Proposal for a regulation Article 1 – paragraph 1 – point 5 – point b Regulation (EU) 2015/1017 Article 9 – paragraph 2 – subparagraph 1 b (new) 'The EIB shall target that at least 20% of the EFSI financing under the infrastructure and innovation window supports projects falling under point (c) related to sustainable, energy efficient, low-carbon transport and mobility projects.'
Amendment 90 #
Proposal for a regulation Article 1 – paragraph 1 – point 5 – point b Regulation (EU) 2015/1017 Article 9 – paragraph 2 – subparagraph 1 b (new) The EIB shall ensure that at least 20 % of EFSI financing supports projects falling under point (c) related to transport and mobility projects.
Amendment 91 #
Proposal for a regulation Article 1 – paragraph 1 – point 5 – point b a (new) Regulation (EU) 2015/1017 Article 9 – paragraph 2 – point c (ba) Article 9, paragraph 2 (c) introductory part is replaced by the following: '(c) development of transport infrastructures, and equipment and innovative technologies for transport, in
Amendment 92 #
Proposal for a regulation Article 1 – paragraph 1 – point 5 – point b a (new) Regulation (EU) 2015/1017 Article 9 – paragraph 2 – point c – point iii a (new) (ba) in paragraph 2(c), the following point is added: '(iiia) railway infrastructure and other rail projects;’
Amendment 93 #
Proposal for a regulation Article 1 – paragraph 1 – point 5 – point b b (new) Regulation (EU) 2015/1017 Article 9 – paragraph 2 – point e – point iii a (new) (bb) In point (c) the following point is added: 'iiia. the use of at least 2% of the entire EU funds available for transport on cyclist and pedestrian projects;'
Amendment 94 #
Proposal for a regulation Article 1 – paragraph 1 – point 5 – point d Regulation (EU) 2015/1017 Article 9 – paragraph 4 Amendment 95 #
Proposal for a regulation Article 1 – paragraph 1 – point 5 – point d a (new) Regulation (EU) 2015/1017 Article 9 – paragraph 7 – subparagraph 1 a (new) (da) ‘The rules in force on flexibility and the implementation of the stability and growth pact1a restrict the Member States’ capabilities – under the preventive, and particularly the corrective, arm of the pact – to co-finance projects that are also co- financed by the EFSI. There needs to be a general interinstitutional debate on whether or not to change the way in which those indirect national contributions are treated in the Commission’s application of the pact.’ _________________ 1a COM(2015) 12 final
Amendment 96 #
Proposal for a regulation Article 1 – paragraph 1 – point 9 – point b – point i Regulation (EU) 2015/1017 Article 14 – paragraph 2 – point c (c) 'leveraging local knowledge to facilitate EFSI support across the Union and contributing
Amendment 97 #
Proposal for a regulation Article 1 – paragraph 1 – point 9 – point b – point ii Regulation (EU) 2015/1017 Article 14 – paragraph 2 – point e (e) ‘providing pro-active support on the establishment of investment platforms
Amendment 98 #
Proposal for a regulation Article 1 – paragraph 1 – point 9 – point b – point iii a (new) Regulation (EU) 2015/1017 Article 14 – paragraph 2 – point f a (new) (iiia) The following point (fa) (new) is added: '(fa) providing best practice examples for PPPs in the field of rail infrastructure development;’
Amendment 99 #
Proposal for a regulation Article 1 – paragraph 1 – point 9 – point b a (new) Regulation (EU) 2015/1017 Article 14 – paragraph 3 a (new) (ba) the following paragraph 3a is inserted: ‘3a. EIAH staff shall ensure complementarity between the European Fund for Strategic Investments and other European programmes in order to step up the level of synergy, encourage combined financing and enhance the leveraging effect of European financial instruments.’
source: 597.683
2017/03/02
ITRE
169 amendments...
Amendment 100 #
Proposal for a regulation Recital 19 a (new) (19a) Calls for all information material and material that forms part of the financing procedure to be translated into all the languages of the Member States, in order to facilitate information and access at local level;
Amendment 101 #
Proposal for a regulation Recital 21 (21) The European Investment Advisory Hub (EIAH) should be enhanced and its activities should focus on needs not covered adequately under current arrangements. It should pay particular attention to supporting the preparation of projects involving two or more Member States and projects that contribute to achieving the objectives of COP21. Notwithstanding its objective to build upon existing advisory services of the EIB and the Commission, so to act as a single technical advisory hub for project financing within the Union, the EIAH should also contribute actively to the objective of sectorial and geographical diversification of the EFSI and support the EIB where needed in originating projects
Amendment 102 #
Proposal for a regulation Recital 21 (21) The European Investment Advisory Hub (EIAH) should be enhanced through increased accessibility and transparency, and its activities should focus on needs not covered adequately under current arrangements
Amendment 103 #
Proposal for a regulation Recital 21 (21) The European Investment Advisory
Amendment 104 #
Proposal for a regulation Recital 21 (21) The European Investment Advisory Hub (EIAH) should be enhanced and its activities should focus on needs not covered adequately under current arrangements. It should pay particular attention to supporting the preparation of projects involving two or more Member States
Amendment 105 #
Proposal for a regulation Recital 21 (21) The European Investment Advisory Hub (EIAH) should be enhanced and its activities should focus on needs not covered adequately under current arrangements. It should pay particular attention to supporting the preparation of projects involving
Amendment 106 #
Proposal for a regulation Recital 21 (21) The European Investment Advisory Hub (EIAH) should be enhanced and its activities should focus on needs not covered adequately under current arrangements. It should pay particular attention to supporting the preparation of projects involving two or more Member States
Amendment 107 #
Proposal for a regulation Recital 21 (21) The European Investment Advisory Hub (EIAH) should be enhanced and its activities should focus on needs not covered adequately under current arrangements. It should
Amendment 108 #
Proposal for a regulation Recital 21 a (new) (21a) Recalls that the advisory hub has been established to help project promoters to develop their projects so that they fulfil the eligibility criteria according to the EFSI regulation; calls on the EIB, EFSI and advisory hub to prioritise on efficient and effective communication with promoters with a view to maximising the benefits that the latter can bring in overcoming investment barriers;
Amendment 109 #
Proposal for a regulation Recital 21 a (new) (21a) The Commission should identify alternative sources of financing for any future extension of EFSI beyond the current multiannual financial framework, and no further funding should be diverted from Regulation (EU) No 1291/2013, in view of the challenges posed to Europe’s position as a global leader in science, research and discovery;
Amendment 110 #
Proposal for a regulation Recital 21 a (new) (21a) Calls for increased funding to enable the Advisory Hub to set up offices and advisory services in all Member States for the purpose of ensuring greater access, gaining an understanding of the specific situation at national and regional level and improving information and communication regarding the ESIF;
Amendment 111 #
Proposal for a regulation Recital 21 b (new) (21b) The definition of the powers and responsibilities of the European Platform for advice on investments, Steering Committee and Investment Committee should be further clarified;
Amendment 112 #
Proposal for a regulation Recital 21 b (new) (21b) Notes that one entity can receive resources from both ESI Funds and EFSI for the same project if the respective conditions are met, underlines that this practice opens the door to confusion, misunderstanding and possibly abuse; instructs the Commission to investigate and report on such projects; calls on the Commission to take the necessary measures against possible abuse of ESI Funds and EFSI resources for political purposes; calls on the Commission to investigate and scrutinise possible ties between projects and politicians and political pressure groups;
Amendment 113 #
Proposal for a regulation Recital 21 c (new) (21c) Takes a positive view of the possibility for certain EFSI funding to be offered in the form of participation in the projects financed; given the possibility for certain financing to be offered in this form, considers it appropriate also to integrate this system into public projects submitted for funding;
Amendment 114 #
Proposal for a regulation Article 1 – paragraph 1 – introductory part Regulation (EU) No 2015/1017, while ceasing to be effective as of the deadlines stipulated therein, is amended as follows:
Amendment 115 #
Proposal for a regulation Article 1 – paragraph 1 – point 1 Regulation (EU) 2015/1017 Article 4 – paragraph 2 Amendment 116 #
Proposal for a regulation Article 1 – paragraph 1 – point 1 a (new) Regulation (EU) 2015/1017 Article 5 – paragraph 1 – subparagraph 2 Amendment 117 #
Proposal for a regulation Article 1 – paragraph 1 – point 2 Regulation (EU) 2015/1017 Article 5 – paragraph 1 – subparagraphs 3 to 5 Amendment 118 #
Proposal for a regulation Article 1 – paragraph 1 – point 2 Regulation (EU) 2015/1017 Article 5 – paragraph 1 – subparagraph 3 To better address
Amendment 119 #
Proposal for a regulation Article 1 – paragraph 1 – point 2 Regulation (EU) 2015/1017 Article 5 – paragraph 1 – subparagraph 3 To better address economic and financial inefficiencies, including market failures
Amendment 120 #
Proposal for a regulation Article 1 – paragraph 1 – point 2 Regulation (EU) 2015/1017 Article 5 – paragraph 1 – subparagraph 3 To better address market failures or sub- optimal investment situations, EIB special activities supported by the EFSI shall typically have features
Amendment 121 #
Proposal for a regulation Article 1 – paragraph 1 – point 2 Regulation (EU) 2015/1017 Article 5 – paragraph 1 – subparagraph 3 To better address market failures or sub- optimal investment situations, E
Amendment 122 #
Proposal for a regulation Article 1 – paragraph 1 – point 2 Regulation (EU) 2015/1017 Article 5 – paragraph 1 – subparagraph 3 a (new) The EIB shall intervene - as a matter of course where blending is concerned and where necessary and relevant in other cases - by providing first loss guarantees for the special activities referred to in the first subparagraph in order to optimise the additionality of the EFSI facility and mobilise more private funds.
Amendment 123 #
Proposal for a regulation Article 1 – paragraph 1 – point 2 Regulation (EU) 2015/1017 Article 5 – paragraph 1 – subparagraph 4 Amendment 124 #
Proposal for a regulation Article 1 – paragraph 1 – point 2 Regulation (EU) 2015/1017 Article 5 – paragraph 1 – subparagraph 4 Amendment 125 #
Proposal for a regulation Article 1 – paragraph 1 – point 2 Regulation (EU) 2015/1017 Article 5 – paragraph 1 – subparagraph 4 Amendment 126 #
Proposal for a regulation Article 1 – paragraph 1 – point 2 Regulation (EU) 2015/1017 Article 5 – paragraph 1 – subparagraph 4 EIB projects carrying a risk lower than the minimum risk under EIB special activities
Amendment 127 #
Proposal for a regulation Article 1 – paragraph 1 – point 2 Regulation (EU) 2015/1017 Article 5 – paragraph 1 – subparagraph 4 a (new) In order to better reach sectors where the demand for financing cannot be sufficiently met by the private market and where the nature and size of operations and loan requirements do not make it possible to access funding through classic EIB activities, EFSI shall also support sector-specific financial mechanisms, in particular for Cultural and Creative Industries (CCIs), provided for under Union frame-work programmes such as the Guarantee Facility within the Creative Europe Programme through the provision of guarantees for topping-up and front- loading of these mechanisms.
Amendment 128 #
Proposal for a regulation Article 1 – paragraph 1 – point 2 Regulation (EU) 2015/1017 Article 5 – paragraph 1 – subparagraph 5 Amendment 129 #
Proposal for a regulation Article 1 – paragraph 1 – point 2 Regulation (EU) 2015/1017 Article 5 – paragraph 1 – subparagraph 5 Amendment 130 #
Proposal for a regulation Article 1 – paragraph 1 – point 2 a (new) Regulation (EU) 2015/1017 Article 5 – paragraph 2 – subparagraph 2 Amendment 131 #
Proposal for a regulation Article 1 – paragraph 1 – point 2 a (new) Regulation (EU) 2015/1017 Article 5 – paragraph 2 a (new) (2a) In Article 5 the following paragraph is added: 2a. To this end, the EFSI shall assess the environmental and social performance of every project supported. In order to not only base the additionality criteria by financial or risk variables but also for their environmental and social impact.
Amendment 132 #
Proposal for a regulation Article 1 – paragraph 1 – point 3 a (new) Regulation (EU) 2015/1017 Article 6 – paragraph 1 – subparagraph 1 a (new) (3a) In Article 6(1) the following subparagraph is added: The Investment Committee shall be responsible to ensure that overall, projects under the EU guarantee foster European social and regional cohesion.
Amendment 133 #
Proposal for a regulation Article 1 – paragraph 1 – point 4 – point -a (new) Regulation (EU) 2015/1017 Article 7 – paragraph 8 – point d (-a) point d) is amended as follows “(d) information and communication technologies infrastructures
Amendment 134 #
Proposal for a regulation Article 1 – paragraph 1 – point 4 – point a – point ii Regulation (EU) 2015/1017 Article 7 – paragraph 8 – point l Amendment 135 #
Proposal for a regulation Article 1 – paragraph 1 – point 4 – point a – point ii a (new) Regulation (EU) 2015/1017 Article 7 – paragraph 8 – point l a (new) (iia) the following point is added: ‘(la) defence’.
Amendment 136 #
Proposal for a regulation Article 1 – paragraph 1 – point 4 – point d Regulation (EU) 2015/1017 Article 7 – paragraph 12 – subparagraph 2 – second sentence Decisions approving the use of the EU guarantee shall be public and accessible through detailed minutes, and include the rationale for the decision, with particular focus on compliance with the additionality criterion. The Scoreboard shall function as a priority setting tool for each EFSI project and shall be publicly available after the evaluation of projects applying for the use of the EU guarantee. The publication shall not contain commercially sensitive information. In reaching its decision, the Investment Committee shall be supported by the documentation provided by the EIB.
Amendment 137 #
Proposal for a regulation Article 1 – paragraph 1 – point 4 – point d Regulation (EU) 2015/1017 Article 7 – paragraph 12 – subparagraph 2 – second sentence Decisions approving the use of the EU guarantee shall be public and accessible, and include the rationale for the decision, with particular focus on compliance with
Amendment 138 #
Proposal for a regulation Article 1 – paragraph 1 – point 5 – point -a (new) Regulation (EU) 2015/1017 Article 9 – paragraph 2 – point b – point i (
Amendment 139 #
Proposal for a regulation Article 1 – paragraph 1 – point 5 – point -a a (new) Regulation (EU) 2015/1017 Article 9 – paragraph 2 – point c – introductory part (-aa) in paragraph 2 point c is replaced by the following: (c) development of transport infrastructures, and equipment and innovative technologies for transport, avoiding any finance to intensive fossil fuel infrastructures such as motorway and airports, in particular through:
Amendment 140 #
Proposal for a regulation Article 1 – paragraph 1 – point 5 – point -a (new) Regulation (EU) 2015/1017 Article 9 – paragraph 2 – point f – introductory part Amendment 141 #
Proposal for a regulation Article 1 – paragraph 1 – point 5 – point a Regulation (EU) 2015/1017 Article 9 – paragraph 2 – point h Amendment 142 #
Proposal for a regulation Article 1 – paragraph 1 – point 5 – point a Regulation (EU) 2015/1017 Article 9 – paragraph 2 – point i Amendment 143 #
Proposal for a regulation Article 1 – paragraph 1 – point 5 – point a a (new) Regulation (EU) 2015/1017 Article 9 – paragraph 2 – point i a (new) (aa) in paragraph 2 the following point is added: (ia) When EFSI is combined with other funds such as Horizon 2020, CEF or the European Structural and Investment Funds, the additionality criteria must apply, the highest risk tranche shall be covered by EFSI and the project eligibility criteria of the European Structural and Investment Funds shall apply to the entire project;
Amendment 144 #
Proposal for a regulation Article 1 – paragraph 1 – point 5 – point a a (new) Regulation (EU) 2015/1017 Article 9 – paragraph 2 – point i a (new) (aa) in paragraph 2, the following point is added: ‘(ia) support for EU initiatives in the defence sector, in particular via: (i) research and development at EU level; (ii) the development of the EU’s defence capabilities; (iii) SMEs and mid-caps in the field of defence.
Amendment 145 #
Proposal for a regulation Article 1 – paragraph 1 – point 5 – point a b (new) Regulation (EU) 2015/1017 Article 9 – paragraph 2 – point i b (new) (ab) in paragraph 2 the following point is added: (ib) EFSI cannot be used for defence or military related expenditure and current EIB lending criteria must continue to apply in this regard to purely civilian ends.
Amendment 146 #
Proposal for a regulation Article 1 – paragraph 1 – point 5 – point b Regulation (EU) 2015/1017 Article 9 – paragraph 2 – subparagraph 1 a Amendment 147 #
Proposal for a regulation Article 1 – paragraph 1 – point 5 – point b Regulation (EU) 2015/1017 Article 9 – paragraph 2 – subparagraph 1 a The EIB
Amendment 148 #
Proposal for a regulation Article 1 – paragraph 1 – point 5 – point b Regulation (EU) 2015/1017 Article 9 – paragraph 2 – subparagraph 1 a The EIB shall target that at least
Amendment 149 #
Proposal for a regulation Article 1 – paragraph 1 – point 5 – point b Regulation (EU) 2015/1017 Article 9 – paragraph 2 – subparagraph 1 a ‘The EIB shall target that at least
Amendment 150 #
Proposal for a regulation Article 1 – paragraph 1 – point 5 – point b Regulation (EU) 2015/1017 Article 9 – paragraph 2 – subparagraph 1 a The EIB shall
Amendment 151 #
Proposal for a regulation Article 1 – paragraph 1 – point 5 – point b Regulation (EU) 2015/1017 Article 9 – paragraph 2 – subparagraph 1 a Amendment 152 #
Proposal for a regulation Article 1 – paragraph 1 – point 5 – point b Regulation (EU) 2015/1017 Article 9 – paragraph 2 – subparagraph 1 a Amendment 153 #
Proposal for a regulation Article 1 – paragraph 1 – point 5 – point b a (new) Regulation (EU) 2015/1017 Article 9 – paragraph 2 – subparagraph 1 b (new) (ba) in paragraph 2 the following subparagraph is added: All EFSI projects shall comply with National Energy and Climate Plans in delivering 2030 targets and should simultaneously be climate-proofed in line with the COP21 commitments and the EU 2050 objective to reduce GHG emissions by 80-95%. The Steering Board shall develop adequate assessment tools and detailed guidance to that end.
Amendment 154 #
Proposal for a regulation Article 1 – paragraph 1 – point 5 – point b a (new) Regulation (EU) 2015/1017 Article 9 – paragraph 2 – subparagraph 1 b (new) (ba) in paragraph 2 the following subparagraph is added: At least 20% of EFSI financing is earmarked for supporting energy efficiency projects; prioritizing small scale, innovative projects in the buildings sector, with special attention for projects eliminating social inequalities and fighting energy poverty;
Amendment 155 #
Proposal for a regulation Article 1 – paragraph 1 – point 5 – point b b (new) Regulation (EU) 2015/1017 Article 9 – paragraph 2 – subparagraph 1 c (new) (bb) in paragraph 2 the following subparagraph is added: EFSI financing in support of projects that contribute to climate action shall not be included into the EIB climate action target established for its standard portfolio of projects.
Amendment 156 #
Proposal for a regulation Article 1 – paragraph 1 – point 5 – point c Regulation (EU) 2015/1017 Article 9 – paragraph 3 Amendment 157 #
Proposal for a regulation Article 1 – paragraph 1 – point 5 – point d Regulation (EU) 2015/1017 Article 9 – paragraph 4 Amendment 158 #
Proposal for a regulation Article 1 – paragraph 1 – point 5 – point d a (new) Regulation (EU) 2015/1017 Article 9 – paragraph 7 – subparagraph 1 a (new) (da) in paragraph 7, the following subparagraph is added: Notes that the rules in force on flexibility and the implementation of the stability and growth pact1a restrict the Member States’ capabilities – under the preventive, and particularly the corrective, arm of the pact – to co-finance projects that are also co-financed by the EFSI. Calls for a general interinstitutional debate on whether or not to change the way in which those indirect national contributions are treated in the Commission’s application of the pact. __________________ 1a COM(2015)12 final
Amendment 159 #
Proposal for a regulation Article 1 – paragraph 1 – point 6 Regulation (EU) 2015/1017 Article 10 – paragraph 2 – point a (a) EIB loans, guarantees, counter-
Amendment 160 #
Proposal for a regulation Article 1 – paragraph 1 – point 6 Regulation (EU) 2015/1017 Article 10 – paragraph 2 – point a (a) EIB loans, guarantees, counter- guarantees,
Amendment 161 #
Proposal for a regulation Article 1 – paragraph 1 – point 6 a (new) Regulation (EU) 2015/1017 Article 10 – paragraph 2 – point c a (new) Amendment 162 #
Proposal for a regulation Article 1 – paragraph 1 – point 7 Regulation (EU) 2015/1017 Article 11 Amendment 163 #
Proposal for a regulation Article 1 – paragraph 1 – point 8 Regulation (EU) 2015/1017 Article 12 Amendment 164 #
Proposal for a regulation Article 1 – paragraph 1 – point 8 a (new) Regulation (EU) 2015/1017 Article 13 – paragraph 3 a (new) (8a) in Article 13 the following paragraph is added: The Commission shall bring forward a proposed repayment schedule for EFSI finances sourced from Regulation (EU) No 1291/2013 and Regulation (EU) No 1316/2013, to be repaid into their respective successor programmes under the next multiannual financial framework;
Amendment 165 #
Proposal for a regulation Article 1 – paragraph 1 – point 9 – point a – point i Regulation (EU) 2015/1017 Article 14 – paragraph 1 – subparagraph 1 – second sentence Such support shall include the provi
Amendment 166 #
Proposal for a regulation Article 1 – paragraph 1 – point 9 – point a – point i Regulation (EU) 2015/1017 Article 14 – paragraph 1 – subparagraph 1 – second sentence Such support shall include providing targeted support on the use of technical assistance for project structuring,
Amendment 167 #
Proposal for a regulation Article 1 – paragraph 1 – point 9 – point a – point i Regulation (EU) 2015/1017 Article 14 – paragraph 1 – subparagraph 1 – second sentence ‘Such support shall include providing targeted support on the use of technical
Amendment 168 #
Proposal for a regulation Article 1 – paragraph 1 – point 9 – point a – point ii Regulation (EU) 2015/1017 Article 14 – paragraph 1 – subparagraph 2 It shall also support the preparation of climate action and circular economy projects or components thereof, in particular in the context of COP21, the preparation of projects in
Amendment 169 #
Proposal for a regulation Article 1 – paragraph 1 – point 9 – point a – point ii It shall also support the preparation of climate action and circular economy projects or components thereof, in particular in the context of COP21, the preparation of cross-border projects and projects in the digital sector, as well as the preparation of projects referred to in the fifth subparagraph of Article 5(1).
Amendment 170 #
Proposal for a regulation Article 1 – paragraph 1 – point 9 – point a – point ii Regulation (EU) 2015/1017 Article 14 – paragraph 1 – subparagraph 2 It shall also support the preparation of climate action and circular economy projects or components thereof,
Amendment 171 #
Proposal for a regulation Article 1 – paragraph 1 – point 9 – point b – point i Regulation (EU) 2015/1017 Article 14 – paragraph 2 – point c (c) leveraging local knowledge to facilitate EFSI support across the Union and contributing where possible to the objectives of economic and social cohesion, sectorial and geographical diversification of the EFSI referred to in Section 8 of Annex II by supporting the EIB to originate operations;’
Amendment 172 #
Proposal for a regulation Article 1 – paragraph 1 – point 9 – point b – point i Regulation (EU) 2015/1017 Article 14 – paragraph 2 – point c (c) leveraging local knowledge to facilitate EFSI support across the Union and contributing where possible to the objective of sectorial and geographical diversification of the EFSI referred to in Section 8 of Annex II by supporting the EIB to originate and aggregate operations;
Amendment 173 #
Proposal for a regulation Article 1 – paragraph 1 – point 9 – point b – point i Regulation (EU) 2015/1017 Article 14 – paragraph 2 – point c (c) leveraging local and regional knowledge to facilitate EFSI support across the Union and contributing where possible to the objective of sectorial and geographical diversification of the EFSI referred to in Section 8 of Annex II by supporting the EIB to originate operations;
Amendment 174 #
Proposal for a regulation Article 1 – paragraph 1 – point 9 – point b – point i Regulation (EU) 2015/1017 Article 14 – paragraph 2 – point c (c) leveraging local knowledge to facilitate EFSI support across the Union and contributing
Amendment 175 #
Proposal for a regulation Article 1 – paragraph 1 – point 9 – point b – point ii Regulation (EU) 2015/1017 Article 14 – paragraph 2 – point e (e) providing pro-active support on the establishment of investment platforms
Amendment 176 #
Proposal for a regulation Article 1 – paragraph 1 – point 9 – point b – point ii Regulation (EU) 2015/1017 Article 14 – paragraph 2 – point e (e) providing pro-active support on the establishment of investment platforms, notably in the area of energy efficiency;
Amendment 177 #
Proposal for a regulation Article 1 – paragraph 1 – point 9 – point b – point ii (e) providing pro-active support on the establishment of needs driven investment platforms;
Amendment 178 #
Proposal for a regulation Article 1 – paragraph 1 – point 9 – point b – point iii Regulation (EU) 2015/1017 Article 14 – paragraph 2 – point f (f) providing advice on the combination of other sources of Union funding (such as the European Structural and Investment Funds, Horizon 2020 and the Connecting Europe Facility)
Amendment 179 #
Proposal for a regulation Article 1 – paragraph 1 – point 9 – point b – point iii Regulation (EU) 2015/1017 Article 14 – paragraph 2 – point f (f) providing advice on the combination of other sources of Union funding (such as the European Structural and Investment Funds, Horizon 2020
Amendment 180 #
Proposal for a regulation Article 1 – paragraph 1 – point 9 – point b – point iii a (new) Regulation (EU) 2015/1017 Article 14 – paragraph 2 – point f a (new) (iiia) the following point is added: (fa) providing advice and technical assistance for projects involving two or more Member States and support for the setting-up of ad-hoc bodies or other financial vehicles for intraregional, multiregional, multinational or cross- border projects and possibly combining other sources of EU financing such as the ESIF (including funds which involve European territorial cooperation);
Amendment 181 #
Proposal for a regulation Article 1 – paragraph 1 – point 9 – point c Regulation (EU) 2015/1017 Article 14 – paragraph 5 5. In order to achieve the objective referred to in paragraph 1 and to facilitate the provision of advisory support at local level, the EIAH shall seek to use the expertise
Amendment 182 #
Proposal for a regulation Article 1 – paragraph 1 – point 9 – point d Regulation (EU) 2015/1017 Article 14 – paragraph 6 – second sentence In this respect, the EIAH shall assess the possibility to establish decentralised regional clusters of technical assistance to better meet the needs of a specific sector and/or region. This assessment shall be done with the involvement of Member States and national promotional banks. The EIAH shall in particular assess the relevance of establishing such a decentralised regional cluster to support energy efficiency projects in South- Eastern Europe. Cooperation between, on the one hand, the EIAH and, on the other hand, a national promotional bank or institution, an international financing institution or an institution or a managing authority, including those acting as a national advisor, having expertise relevant for the purposes of the EIAH, may take the form of a contractual partnership.
Amendment 183 #
Proposal for a regulation Article 1 – paragraph 1 – point 9 – point d Regulation (EU) 2015/1017 Article 14 – paragraph 6 – second sentence Cooperation between, on the one hand, the EIAH and, on the other hand, a national promotional bank or institution, an international public financing institution or an institution or a managing authority, including those acting as a national advisor, having expertise relevant for the purposes of the EIAH, may take the form of a contractual partnership.
Amendment 184 #
Proposal for a regulation Article 1 – paragraph 1 – point 9 – point d a (new) Regulation (EU) 2015/1017 Article 14 – paragraph 7 (da) paragraph 7 is replaced by the following:
Amendment 185 #
Proposal for a regulation Article 1 – paragraph 1 – point 9 – point d a (new) Regulation (EU) 2015/1017 Article 14 – paragraph 7 (da) paragraph 7 is replaced by the following: “7. The Union shall contribute up to a maximum of EUR
Amendment 186 #
Proposal for a regulation Article 1 – paragraph 1 – point 9 a (new) Regulation (EU) 2015/1017 Article 16 – paragraph 2 (9a) Article 16(2) is amended as follows: 2. The EIB, in cooperation with the EIF where appropriate, shall submit a
Amendment 187 #
Proposal for a regulation Article 1 – paragraph 1 – point 9 a (new) Regulation (EU) 2015/1017 Article 16 – paragraph 6 a (new) Amendment 188 #
Proposal for a regulation Article 1 – paragraph 1 – point 10 Regulation (EU) 2015/1017 Article 18 Amendment 189 #
Proposal for a regulation Article 1 – paragraph 1 – point 10 a (new) Regulation (EU) 2015/1017 Article 19 – paragraph 1 (10 a) in Article 19, paragraph 1 is replaced by the following: In accordance with its transparency policies and general Union principles on access to documents and information, the EIB shall make publicly available on its website information relating to all EIB financing and investment operations covered by this Regulation, including on the role of financial intermediaries, and relating to the manner in which those operations contribute to the general objectives set out in Article 9(2).
Amendment 190 #
Proposal for a regulation Article 1 – paragraph 1 – point 11 Regulation (EU) 2015/1017 Article 19 – paragraph 1 a The EIB and EIF shall inform or shall oblige financial intermediaries to inform the final beneficiaries
Amendment 191 #
Proposal for a regulation Article 1 – paragraph 1 – point 11 a (new) Regulation (EU) 2015/1017 Article 19 – paragraph 1 b (new) – (11a) in Article 19, the following paragraph is added: In its financing and investment operations, the EIB shall apply the principles and standards set out in Union law on the prevention of the use of the financial system for the purpose of money laundering and terrorist financing, including a requirement to take reasonable measures to identify the beneficial owners where applicable. In its financing and investment operations under the EFSI and through investment platforms and national promotional banks, the EIB shall make both direct funding or funding via intermediaries contingent upon the disclosure of both country-by-country tax relevant data along the lines of the CRD IV provision for credit institutions, as well as disclosure of beneficial ownership information according to the EU Anti- Money Laundering Directive.
Amendment 192 #
Proposal for a regulation Article 1 – paragraph 1 – point 12 Regulation (EU) 2015/1017 Article 22 – paragraph 1 – subparagraph 4 The Commission shall provide detailed guidance, where needed. In addition, the Commission shall draw up standard criteria and definitions to ensure transparency on issues related to tax governance;
Amendment 193 #
Proposal for a regulation Article 1 – paragraph 1 – point 12 a (new) Regulation (EU) 2015/1017 Article 22 – paragraph 2 a (new) (12a) in Article 22(2) the following subparagraph is added after the second subparagraph: The EIB shall terminate with financial intermediaries having a negative track record in terms of transparency, tax evasion and aggressive tax planning practices, or use other harmful tax practices such as ‘tax rulings’ and abusive transfer pricing.
Amendment 194 #
Proposal for a regulation Article 1 – paragraph 1 – point 13 Regulation (EU) 2015/1017 Article 23 – paragraph 2 – subparagraph 1 – first and second sentence Amendment 195 #
Proposal for a regulation Article 1 – paragraph 1 – point 13 Regulation (EU) 2015/1017 Article 23 – paragraph 2 – subparagraph 1 – first and second sentence The power to adopt delegated acts referred to in Article 7(13) and (14) shall be conferred on the Commission for a period of five years from 4 July 2015. The Commission shall draw up a report in respect of the delegation of power not later than nine months before the end of the five-year period; The Commission shall propose a revision of delegated regulation 2015/1558 within one month after this regulation is published in the Official Journal of the European Union. The Scoreboard of indicators shall be used by the Investment committee to ensure an independent and transparent assessment of the potential and actual use of the EU guarantee, and to prioritise the use of the EU guarantee for operations that display higher scores and added value. In its proposal, the Commission shall give employment and sustainability more weight and the scores on the different pillars shall be aggregated into an overall single rating.
Amendment 196 #
Proposal for a regulation Article 1 – paragraph 1 – point 14 Regulation (EU) 2015/1017 Annex II Amendment 197 #
Proposal for a regulation Article 2 Regulation (EU) No 1316/2013 Article 5 – paragraph 1 Amendment 198 #
Proposal for a regulation Article 2 Regulation (EU) No 1316/2013 Article 5 – paragraph 1 Amendment 199 #
Proposal for a regulation Annex – point 1 – point a Regulation (EU) 2015/1017 Annex II – section 2 – point b – subparagraph 1 a ‘EFSI support
Amendment 200 #
Proposal for a regulation Annex – point 1 – point a Regulation (EU) 2015/1017 Annex II – section 2 – point b – subparagraph 1 a EFSI support to motorways
Amendment 201 #
Proposal for a regulation Annex – point 1 – point a a (new) Regulation (EU) 2015/1017 Annex II – section 2 – point b – subparagraph 1 b (new) (aa) in point (b), a third subparagraph is added: EFSI support to airport infrastructure must be avoided, unless related to environmental protection or mitigation of environmental impact;
Amendment 202 #
Proposal for a regulation Annex II – point 1 – point a b (new) Regulation (EU) 2015/1017 Annex II – section 2 – point b – subparagraph 1 c (new) (ab) in point (b), a fourth subparagraph is added: EFSI support must not be used for fossil fuel infrastructure or nuclear energy installations;
Amendment 203 #
Proposal for a regulation Annex – point 1 – point b Regulation (EU) 2015/1017 Annex II – section 2 – point c – second sentence In this context, it is expected that the EIB will provide finance under the EFSI with a view to reach a
Amendment 204 #
Proposal for a regulation Annex – point 1 a (new) Regulation (EU) 2015/1017 Annex II – section 3 – paragraph 1 (1a) in section 3, paragraph 1 is replaced by the following: “The EU guarantee shall be granted in support of operations that meet the criterion of providing additionality as defined in Article 5(1) of this Regulation
Amendment 205 #
Proposal for a regulation Annex – point 3 Regulation (EU) 2015/1017 Annex II – section 5 The scoreboard shall be made public as soon as an operation under the EU guarantee
Amendment 37 #
Proposal for a regulation Recital 1 (1)
Amendment 38 #
Proposal for a regulation Recital 1 (1) Since the Investment Plan for Europe was presented in November 20143, the conditions for
Amendment 39 #
Proposal for a regulation Recital 1 a (new) (1a) Underlines that the primary aim of EFSI is to support projects that provide European citizen with long-term environmental and societal benefits such as high quality long-term jobs and public infrastructure; therefore wants to support projects that provide this genuine additionality and quality rather than maximizing leverage factors or project speed and volumes.
Amendment 40 #
Proposal for a regulation Recital 2 Amendment 41 #
Proposal for a regulation Recital 3 a (new) (3a) On 11 November 2016, the European Court of Auditors published an opinion in which it stated that: “the European Commission plans to increase and extend the investment fund at the heart of the ‘Juncker Plan’ were drawn up too soon and with little evidence that the increase is justified”. The same Court also highlighted the fact that ‘no comprehensive impact assessment has been made’ and criticised the ‘deletion of the provision linking the continuation of EFSI to the results of an independent evaluation’. It also emphasised ‘the risk that the multiplier effect is overstated’, and that the objectives and results cited were those expected and not ones confirmed by tangible, accurate, clear or immediate statistics.
Amendment 42 #
Proposal for a regulation Recital 3 a (new) (3a) On September 2016, on the “Evaluation of the Functioning of the European Fund for Strategic Investments”, the EIB suggests that although EFSI has ramped up quickly and seems to be on track to reach the target to mobilise EUR 315 billion of total investment, there are areas for improvement, including: complementarity with the other pillars of the Investment Plan, a better distribution of EFSI’s portfolio across all Member States, as well as in additionality and governance.
Amendment 43 #
Proposal for a regulation Recital 4 (4) The EFSI, implemented and co- sponsored by the EIB Group,
Amendment 44 #
Proposal for a regulation Recital 4 (4) The EFSI, implemented and co- sponsored by the EIB Group, is
Amendment 45 #
Proposal for a regulation Recital 4 (4) The EFSI, implemented and co- sponsored by the EIB Group, is firmly on track to deliver the objective of mobilising at least EUR 315 billion in additional investments in the real economy by mid- 2018.
Amendment 46 #
Proposal for a regulation Recital 4 (4) The EFSI, implemented and co- sponsored by the EIB Group, is firmly on track to deliver the objective of mobilising
Amendment 47 #
Proposal for a regulation Recital 5 (5) On 28 June 2016, the European Council concluded that “The Investment Plan for Europe, in particular the European Fund for Strategic Investments (EFSI), has already delivered concrete results and is a major step to help mobilise private investment while making smart use of scarce budgetary resources. The Commission intends to soon put forward proposals on the future of the EFSI, which should be examined as a matter of urgency
Amendment 48 #
Proposal for a regulation Recital 5 (5) On 28 June 2016, the European Council concluded that “The Investment Plan for Europe, in particular the European Fund for Strategic Investments (EFSI), has already delivered concrete results and is a major step to help mobilise private investment while making smart use of scarce budgetary resources.
Amendment 49 #
Proposal for a regulation Recital 5 (5) On 28 June 2016
Amendment 50 #
Proposal for a regulation Recital 6 (6) The EFSI was established for an initial period of three years and with the aim of mobilising at least EUR 315 billion in investments.
Amendment 51 #
Proposal for a regulation Recital 6 (6) The EFSI was established for an initial period of three years and with the aim of mobilising at least EUR 315 billion in investments.
Amendment 52 #
Proposal for a regulation Recital 6 a (new) Amendment 53 #
Proposal for a regulation Recital 8 (8) The extended EFSI should address remaining market failures and sub-optimal investment situations and continue to mobilise private sector financing in investments crucial for Europe’s future
Amendment 54 #
Proposal for a regulation Recital 8 (8) The extended EFSI should
Amendment 55 #
Proposal for a regulation Recital 8 (8) The extended EFSI should address remaining market failures and sub-optimal investment situations and continue to mobilise private sector financing in investments crucial for Europe’s future job creation – including for the youth –, growth and competitiveness with strengthened additionality. They include investments in the areas of energy, environment and climate action, social and human capital and related infrastructure, healthcare, research and innovation, cross- border and sustainable transport, as well as the digital transformation. In particular, the contribution of operations supported by the EFSI to achieving the Union’s ambitious targets set at the Paris Climate Conference (COP21) should be reinforced. Energy interconnection priority projects and energy efficiency projects should also be increasingly targeted. Similarly, in the digital sector, a priority to develop new infrastructure should be given in order to ensure that the Union will be a global pioneer in the digital economy. Moreover, a criterion for the success of the EFSI could be the assistance provided to policy areas that suffered from cuts in investments in order to fund the EFSI, such as research grants, especially for low technology readiness levels. In addition, EFSI support to motorways should be avoided, unless it is needed to support private investment in transport in cohesion countries or in cross-border transport projects involving at least one cohesion country. For reasons of clarity, although they are already eligible, it should be explicitly laid down that projects in the fields of agriculture, fishery and aquaculture come within the general objectives eligible for EFSI support.
Amendment 56 #
Proposal for a regulation Recital 8 (8) The extended EFSI should address remaining market failures and sub-optimal investment situations and continue to mobilise private sector financing in investments crucial for Europe’s future job creation – including for the youth –,
Amendment 57 #
Proposal for a regulation Recital 8 (8) The extended EFSI should address remaining market failures and sub-optimal investment situations and continue to mobilise private sector financing in investments crucial for Europe’s future job creation – including for the youth –, growth and competitiveness with strengthened additionality. They include investments in the areas of energy, environment and climate action, social and human capital and related infrastructure, healthcare, research and innovation, cross- border and sustainable transport, as well as the digital transformation. In particular, the contribution of operations supported by the EFSI to achieving the Union’s ambitious targets set at the Paris Climate Conference (COP21) should be reinforced. Energy interconnection priority projects and energy efficiency projects should also be increasingly targeted. In addition, EFSI support to motorways should be avoided, unless it is needed to support private investment in transport in cohesion countries or in cross-border transport projects involving at least one cohesion country. For reasons of clarity, although they are already eligible, it should be explicitly laid down that projects in the fields of agriculture, fishery and aquaculture come within the general
Amendment 58 #
Proposal for a regulation Recital 8 (8) The extended EFSI should address remaining market failures and sub-optimal investment situations and continue to mobilise private sector financing in investments crucial for Europe’s future job creation – including for the youth –, growth and competitiveness with strengthened additionality. They include investments in the areas of energy, environment and climate action, the circular economy, social and human capital and related infrastructure, healthcare, research and innovation, cross- border and sustainable transport, tourism, as well as the digital transformation. In particular, the contribution of operations supported by the EFSI to achieving the Union’s ambitious targets set at the Paris Climate Conference (COP21) should be reinforced. This would be in line with EIB’s current climate finance target of 25% based on its full portfolio. Energy interconnection priority projects and energy efficiency projects should also be increasingly targeted especially since the former could exemplify cases of market failure and the latter of sub-optimal investment situations. In addition, EFSI support to motorways should be avoided, unless it is needed to support private investment in transport in cohesion countries or in cross-border transport projects involving at least one cohesion country. For reasons of clarity, although they are already eligible, it should be
Amendment 59 #
Proposal for a regulation Recital 8 (8) The extended EFSI should address remaining market failures and sub-optimal investment situations and continue to mobilise private sector financing in investments crucial for Europe’s future job creation – including for the youth –, growth and competitiveness with strengthened additionality. They include investments in the areas of energy, environment and climate action, social and human capital and related infrastructure, healthcare, research and innovation, cross- border and sustainable transport, as well as the digital transformation. In particular, the contribution of operations supported by the EFSI to achieving the Union’s ambitious targets set at the Paris Climate Conference (COP21) should be reinforced. This would be in line with EIB’s current climate finance target of 25% based on its full portfolio and computed according to its granular methodology. Energy interconnection priority projects and energy efficiency projects should also be increasingly targeted. In addition, EFSI support to motorways should be avoided, unless it is needed to support private investment in transport in cohesion countries or in cross-border transport
Amendment 60 #
Proposal for a regulation Recital 8 (8) The extended EFSI should address
Amendment 61 #
Proposal for a regulation Recital 8 (8) The extended EFSI should address remaining market failures and sub-optimal investment situations and continue to mobilise private sector financing in investments crucial for Europe’s future job creation – including for the youth –, growth and competitiveness with
Amendment 62 #
Proposal for a regulation Recital 8 (8) The extended EFSI should address remaining market failures and sub-optimal investment situations and continue to mobilise private sector financing in investments crucial for Europe’s future job creation – including for the youth –, growth and competitiveness with strengthened additionality. They include investments in the areas of energy, including alternative energy sources (for vehicles), environment and climate action, social and human capital and related infrastructure, healthcare, research and innovation, cross-
Amendment 63 #
Proposal for a regulation Recital 8 (8) The extended EFSI should address remaining market failures and sub-optimal investment situations and continue to mobilise private sector financing in investments crucial for Europe’s future job creation – including for the youth –, growth and competitiveness with strengthened additionality. They include investments in the areas of energy, environment and climate action, social and
Amendment 64 #
Proposal for a regulation Recital 8 a (new) (8a) It should be noted that in its EFSI- supported special activities the EIB makes systematic use of participation in risk- sharing instruments with its co-investors. The EIB should therefore intervene - as a matter of course where blending is concerned and where necessary in other cases - by providing first loss guarantees for the activities concerned in order to optimise the additionality of the EFSI facility and mobilise more private funds.
Amendment 65 #
Proposal for a regulation Recital 8 b (new) (8b) It should be borne in mind that the leading global powers have all created military-industrial complexes in order to stay ahead of the competition in technological and scientific terms. It is therefore imperative that the EU do the same by allocating large sums - in particular through the EFSI - to the creation of a European defence industry which, as a result of its research and development work, will have a significant civil and economic impact.
Amendment 66 #
Proposal for a regulation Recital 9 (9) Additionality, a key feature of the EFSI, should be strengthened in the selection of projects. In particular, operations should only be eligible for EFSI support if they address clearly identified market failures or sub-optimal investment situations.
Amendment 67 #
Proposal for a regulation Recital 9 (9) Additionality, a key feature of the EFSI, should be strengthened in the selection of projects. In particular, operations should only be eligible for EFSI support if they address clearly identified market failures or sub-optimal investment situations. Operations in infrastructure under the Infrastructure and Innovation Window linking two or more Member States, including e-infrastructure, should be considered additional given their inherent difficulty and their high added value for the Union. The EIB has already developed a wide range of products that facilitate further risk-taking through, predominantly, risk-sharing instruments. However, developing further ‘first loss guarantee’ schemes by combining EU and/ or national budgetary resources with EFSI is expected to accelerate investments in infrastructure projects.
Amendment 68 #
Proposal for a regulation Recital 9 (9) Additionality, a key feature of the EFSI, should be strengthened in the selection of projects. In particular, operations should only be eligible for EFSI support if they address clearly identified market failures or sub-optimal investment situations.
Amendment 69 #
Proposal for a regulation Recital 9 (9) Additionality, a key feature of the EFSI, should be s
Amendment 70 #
Proposal for a regulation Recital 9 (9) Additionality, a key feature of the EFSI, should be strengthened in the selection of projects. In particular, operations should only be eligible for EFSI support if they address clearly identified market failures or sub-optimal investment situations.
Amendment 71 #
Proposal for a regulation Recital 9 a (new) (9a) Transparency in the eligibility, approval and the selection of projects is an essential condition and is to be reflected in the governance structure of the decision-making process. It is therefore important to continually confirm the accountability of the decision- takers in order to ensure that any difficulties in the implementation of Regulation (EU) No 2015/1017 are not repeated in this Regulation. Moreover, the Commission should work closely with the EIB in the formation of pre-defined, clear, objective and publicly-available criteria that reduce legal uncertainty and improve tax governance, especially when the investment activities involve entities with links to non-cooperative jurisdictions.
Amendment 72 #
Proposal for a regulation Recital 10 Amendment 73 #
Proposal for a regulation Recital 10 (10) Due to their potential to increase the efficiency of the EFSI intervention, blending operations combining non- reimbursable forms of support and/or financial instruments from the Union budget, such as those available under the Connecting Europe Facility, and financing from EIB Group, including EIB financing under the EFSI, as well as other investors should be encouraged. Blending aims to enhance the value added of Union spending by attracting additional resources from private investors and to ensure the actions supported become economically and financially viable. In view of the inherent complexity of those instruments, the EIAH should also give guidance on the optimal choice of funding instruments and blending. Moreover, the EIAH, being a market-driven instrument providing advice on investment in various market sectors, should where appropriate also provide access to expertise other advisory entities with relevant specialised knowledge of specific market sectors. Encouragement of further collaboration between the EIAH and other advisory entities will be critical for the success of the EFSI, especially in market areas and niches where higher specialisation and deeper know-how is needed.
Amendment 74 #
Proposal for a regulation Recital 10 (10) Due to their potential to increase the efficiency of the EFSI intervention, blending operations combining non- reimbursable forms of support and/or financial instruments from the Union budget not subject to excessive risk, such as some of those available under the Connecting Europe Facility, and financing from EIB Group, including EIB financing under the EFSI, as well as other investors should be encouraged. Blending aims to enhance the value added of Union spending by attracting additional resources from private investors and to ensure the actions supported become economically and financially viable.
Amendment 75 #
Proposal for a regulation Recital 10 a (new) (10a) In order to improve the performance of the EFSI at both national and regional level, there is a need to step up cooperation between the EIB, which steers the EFSI, and the national promotional banks.
Amendment 76 #
Proposal for a regulation Recital 10 b (new) (10b) It should be noted that the rules in force on flexibility and the implementation of the stability and growth pact1a restrict the Member States’ capabilities – under the preventive, and particularly the corrective, arm of the pact – to co-finance projects that are also co- financed by the EFSI. There needs to be a general interinstitutional debate on whether or not to change the way in which those indirect national contributions are treated in the Commission’s application of the pact. __________________ 1a COM(2015)12 final
Amendment 77 #
Proposal for a regulation Recital 11 (11) In order to reinforce the take-up of the EFSI in less-developed and transition regions, the scope of the general objectives eligible for EFSI support should be enlarged. With a view to contributing to the Union objective of economic, social and territorial cohesion and reducing regional disparities, whilst preserving the market driven nature of EFSI, the geographical balance of EFSI support needs to be enhanced in line with the geographical diversification and concentration guidelines and by strengthening the role of the EIAH.
Amendment 78 #
Proposal for a regulation Recital 11 (11) In order to reinforce the take-up of the EFSI in less-developed and transition regions and to encourage social and regional cohesion through the creation of quality jobs and the broadening and improvement of the productive base of Member States, especially those most affected by the crisis, the scope of the general objectives eligible for EFSI support should be enlarged.
Amendment 79 #
Proposal for a regulation Recital 11 (11) In order to reinforce the take-up of the EFSI in less-developed and transition regions, the scope of the general objectives eligible for EFSI support should be enlarged, as long as this is line with the principles set out in the Treaty in relation to territorial, social and economic cohesion.
Amendment 80 #
Proposal for a regulation Recital 11 (11) In order to reinforce the take-up of the EFSI in less-developed and transition regions, the scope of the general objectives eligible for EFSI support should be enlarged ensuring a balanced distribution of projects across the Union, so that all Member States have access to finance.
Amendment 81 #
Proposal for a regulation Recital 11 (11) In order to reinforce the take-up of the EFSI in less-developed and transition regions,
Amendment 82 #
Proposal for a regulation Recital 11 (11) In order to reinforce the take-up of the EFSI in less-developed and transition regions and in regions that are not within the European average in terms of GDP growth, the scope of the general objectives eligible for EFSI support should be enlarged.
Amendment 83 #
Proposal for a regulation Recital 11 a (new) (11a) With a view to contributing to the Union objective of economic, social, and territorial cohesion and reducing regional disparities, the geographic balance of EFSI support needs urgently be enhanced by providing for effective implementation of geographic diversification and by strengthening the role of the EIAH, including the creation of decentralised regional clusters of technical assistance;
Amendment 84 #
Proposal for a regulation Recital 11 a (new) (11a) Considers it important to count the low level of development of the region where the project is being carried out or from which the beneficiary comes as an additional risk factor, given that the objective of the European Fund for Strategic Investments is to allocate funds to high-risk projects;
Amendment 85 #
Proposal for a regulation Recital 11 b (new) (11b) Calls for a detailed activity report to be presented on the achievement of those goals through the projects financed, taking account of additional criteria on the allocation of funds geared to social and environmental factors or corresponding areas of European funding;
Amendment 86 #
Proposal for a regulation Recital 12 Amendment 87 #
Proposal for a regulation Recital 13 Amendment 88 #
Proposal for a regulation Recital 14 Amendment 89 #
Proposal for a regulation Recital 15 a (new) (15a) It is to be noted that strict implementation of the Stability and Growth Pact is an obstacle for some Member States, particularly those that suffered more from the recent financial crisis, to participating directly in the EFSI or indirectly by contributing with public financing to individual projects and platforms. In order to encourage further contributions from Member States and regional and local administrations, any direct or indirect national contributions should be treated as ‘one-offs’ under the Stability and Growth Pact. These measures will support Member States in implementing necessary reforms that are essential for consolidating the growth of local economies.
Amendment 90 #
Proposal for a regulation Recital 16 (16) In line with the exceptional market demand for SME financing under the EFSI which is expected to continue, the EFSI SME Window should be enhanced. Particular attention should be paid to social enterprises, including through the development and deployment of new instruments. Experience so far nevertheless points to a sharp increase in indirect financing in respect of SMEs, through highly opaque structures and speculative investment funds geared towards maximising short-term profits rather than towards supporting the real economy and the SMEs themselves.
Amendment 91 #
Proposal for a regulation Recital 16 (16) In line with the exceptional market demand for SME financing under the EFSI
Amendment 92 #
Proposal for a regulation Recital 17 (17) The EIB and the EIF should ensure that the final beneficiaries, including SMEs, are informed of the existence of EFSI support, so as to enhance the visibility of the EU guarantee granted under Regulation (EU) 2015/1017. The information on EFSI support should be prominently placed in the financing agreement, particularly in the case of SMEs, so as to increase the visibility of the EFSI as a Union initiative.
Amendment 93 #
Proposal for a regulation Recital 17 (17) The EIB and the EIF should ensure that the final beneficiaries, including start- ups and SMEs, are informed of the existence of EFSI support, so as to enhance the visibility of the EU guarantee granted under Regulation (EU) 2015/1017.
Amendment 94 #
Proposal for a regulation Recital 17 a (new) (17a) To improve the transparency of the EFSI, the EIB must publish all information and impact assessment results relating to operations carried out, indicating added value and additionality for each funded project and its contribution to the achievement of EFSI targets and long-term EU strategies and core objectives. Similarly, the EIB must publish analytical data for each funded project, including EFSI lending through financial intermediaries, giving ex-ante and ex-post assessments of each project with a detailed explanation of the selection and assessment indicators and criteria used. Finally, the publication of objective data is necessary relating to jobs directly and indirectly created through the EFSI, bearing in mind also the Social Pillar being developed by the Commission.
Amendment 95 #
Proposal for a regulation Recital 17 a (new) (17a) Calls on the European Investment Bank not to turn the interest rate on funds granted in the form of loans into a deterrent and burden for beneficiaries, given the importance of allocating funds to projects and zones with a high risk factor; calls on the European Investment Bank to increase transparency regarding the interest rate and commission charged for EFSI projects across the European Union, and to ensure that these do not become elements of discrimination between different categories of beneficiaries or between regions;
Amendment 96 #
Proposal for a regulation Recital 18 (18) With a view to enhancing the transparency of EFSI operations, the Investment Committee should explain in its decisions, which are made public and accessible, the reasons why it deems that an operation should be granted the EU guarantee, with particular focus on compliance with the additionality criterion. The scoreboard of indicators should be made public once an operation under the EU guarantee is signed. Calls for transparency regarding the scoring and assessment system for projects to be increased, by publishing the assessment reports and the criteria on the basis of which a project has been approved or rejected;
Amendment 97 #
Proposal for a regulation Recital 18 (18) With a view to enhancing the transparency of EFSI operations, the Investment Committee should explain in its decisions, which are made public and accessible, the reasons why it deems that an operation should be granted the EU guarantee, with particular focus on compliance with the additionality criterion. The scoreboard of indicators should be made public once an operation under the EU guarantee
Amendment 98 #
Proposal for a regulation Recital 18 (18) With a view to enhancing the transparency of EFSI operations, the Investment Committee should explain in its decisions, which are made public and accessible, the reasons why it deems that an operation should be granted the EU
Amendment 99 #
Proposal for a regulation Recital 18 (18) With a view to enhancing the transparency of EFSI operations, the Investment Committee should explain in its decisions, which are made public and accessible, the reasons why it deems that an operation should be granted the EU guarantee, with particular focus on compliance with the additionality criterion. The scoreboard of indicators should be made public once an operation under the EU guarantee is
source: 599.782
2017/03/27
BUDG, ECON
448 amendments...
Amendment 100 #
Proposal for a regulation Recital 7 Amendment 101 #
Proposal for a regulation Recital 7 (7)
Amendment 102 #
Proposal for a regulation Recital 7 (7) For the period after 2020, the Commission intends to put forward the necessary proposals
Amendment 103 #
Proposal for a regulation Recital 7 (7)
Amendment 104 #
Proposal for a regulation Recital 7 (7) For the period after 2020, the Commission
Amendment 105 #
Proposal for a regulation Recital 7 (7) For the period after 2020, the Commission intends to put forward the necessary proposals to ensure that strategic investment will continue at a sustainable level; a comprehensive impact assessment shall be made by the Commission to justify a future proposal.
Amendment 106 #
Proposal for a regulation Recital 7 a (new) (7 a) Proposals aiming at extending the investment period after 2020 should be preceded by and based on independent evaluations, which analyse whether EFSI achieves its objectives, in particular regarding the additionality of projects as well as its impact on growth and employment.
Amendment 107 #
Proposal for a regulation Recital 7 b (new) (7 b) Proposals on the extension of the EFSI should not aim at replacing or reducing the budget of the European Structural and Investment Funds.
Amendment 108 #
Proposal for a regulation Recital 8 (8) The extended EFSI should address remaining market failures and sub-optimal investment situations and continue to mobilise private sector financing in investments crucial for Europe
Amendment 109 #
Proposal for a regulation Recital 8 (8) The extended EFSI should address remaining market failures and sub-optimal investment situations and continue to mobilise private sector financing in investments crucial for Europe’s future job creation – including for the youth –, growth and competitiveness with strengthened additionality. They include investments in the areas of energy, environment and climate action, social and human capital and related infrastructure, healthcare, research and innovation, cross- border and sustainable transport, as well as the digital transformation. In particular, the contribution of operations supported by the EFSI to achieving the Union's ambitious targets set at the Paris Climate Conference (COP21) should be reinforced. Energy interconnection priority projects and energy efficiency projects should also be increasingly targeted.
Amendment 110 #
Proposal for a regulation Recital 8 (8) The extended EFSI should address
Amendment 111 #
Proposal for a regulation Recital 8 (8) The
Amendment 112 #
Proposal for a regulation Recital 8 (8) The
Amendment 113 #
Proposal for a regulation Recital 8 (8) The extended EFSI should address remaining market failures and sub-optimal investment situations and continue to mobilise private sector financing in investments crucial for Europe’s future job creation – including for the youth –, growth and competitiveness with strengthened additionality. They include investments in the areas of energy, environment and climate action, social and human capital and related infrastructure, healthcare, research and innovation, cross- border and sustainable transport, as well as the digital transformation, areas which have the highest GDP economic multipliers in order to strength economic, social and territorial cohesion. In particular, the contribution of operations supported by the EFSI to achieving the Union's ambitious targets set at the Paris Climate Conference (COP21) and by Europe 2020 Strategy, especially those that tackle unemployment and inequalities, should be reinforced. Energy interconnection priority projects and energy efficiency projects should also be increasingly targeted. In addition, EFSI support to motorways should be
Amendment 114 #
Proposal for a regulation Recital 8 (8) The extended EFSI should address remaining market failures and sub-optimal investment situations and continue to mobilise private sector financing in investments crucial for Europe’s future job creation – including for the youth –, growth and competitiveness with strengthened additionality. They include investments in the areas of renewable energy, environment and climate action, social and human capital and related infrastructure, social housing, healthcare, research and innovation, cross-
Amendment 115 #
Proposal for a regulation Recital 8 (8) The extended EFSI should address remaining market failures and sub-optimal investment situations and continue to mobilise private sector financing in investments crucial for Europe’s future job creation – including for the youth –, growth and competitiveness with strengthened additionality. They include investments in the areas of energy, environment and climate action, social and human capital and related infrastructure, healthcare, research and innovation, cross- border and sustainable transport, as well as the digital transformation. In particular, the contribution of operations supported by the EFSI to achieving the Union's ambitious targets set at the Paris Climate Conference (COP21) should be reinforced. Energy interconnection priority projects and energy efficiency projects should also be increasingly targeted. In addition, EFSI support to motorways should be avoided, unless it is needed to support private investment in transport in cohesion countries or in cross-border transport projects involving at least one cohesion country. For reasons of clarity, although they are already eligible, it should be explicitly laid down that projects in the fields of agriculture, fishery
Amendment 116 #
Proposal for a regulation Recital 8 (8) The extended EFSI should address remaining market failures and sub-optimal investment situations and continue to mobilise private sector financing in investments crucial for Europe’s future job creation – including for the youth –, growth and competitiveness with strengthened additionality. They include investments in the areas of energy, environment and climate action, social and human capital and related infrastructure, healthcare, research and innovation, cross- border and sustainable transport, as well as the digital transformation. In particular, the contribution of operations supported by the EFSI to achieving the Union's ambitious targets set at the Paris Climate Conference (COP21) should be reinforced. Energy interconnection priority projects and energy efficiency projects should also be increasingly targeted. In addition, EFSI support to motorways should be avoided, unless it is needed to support private investment in transport in cohesion countries or in cross-border transport projects involving at least one cohesion country. For reasons of clarity, although they are already eligible, it should be explicitly laid down that projects in the fields of agriculture, fishery and aquaculture come within the general objectives eligible for EFSI support. EFSI also needs to fund projects throughout all the Member States of the European Union, with a special focus on underdeveloped East European countries helping them to overcome the current investment difficulties and strengthen competitiveness and economic, social and territorial cohesion of the Union.
Amendment 117 #
Proposal for a regulation Recital 8 (8) The extended EFSI should address remaining market failures and sub-optimal investment situations and continue to mobilise private sector financing in investments crucial for Europe
Amendment 118 #
Proposal for a regulation Recital 8 (8) The extended EFSI should address remaining market failures and sub-optimal investment situations and continue to mobilise private sector financing in investments crucial for Europe
Amendment 119 #
Proposal for a regulation Recital 8 (8) The extended EFSI should address remaining market failures and sub-optimal investment situations and continue to mobilise private sector financing in investments crucial for Europe’s future job creation – including for the youth –, growth and competitiveness with strengthened additionality. They include investments in the areas of energy, environment and climate action, social and human capital and related infrastructure, healthcare, research and innovation, cross- border and sustainable transport, as well as the digital transformation. In particular, the contribution of operations supported by the EFSI to achieving the Union's ambitious targets set at the Paris Climate Conference (COP21) should be reinforced. Energy interconnection priority projects and energy efficiency projects should also be increasingly targeted. In addition, EFSI support to motorways should be avoided, unless it is needed to support private investment in transport in cohesion
Amendment 120 #
Proposal for a regulation Recital 8 a (new) (8a) In line with the EU’s commitments on tackling climate change, operations supported by the EFSI should contribute, as far as possible, to achieving the COP21 objectives. In order to strengthen climate- related action under the EFSI, the EIB should build on its experience as a major provider of climate finance and use internationally agreed methodologies to identify climate-related components and costs.
Amendment 121 #
Proposal for a regulation Recital 8 a (new) (8a) The EFSI does not finance transport infrastructure work in the absence of an independent impact assessment and if it is characterised by controversial implementation from the economic, environmental and social points of view. Support of any kind for the fossil fuel sector must be prohibited.
Amendment 122 #
Proposal for a regulation Recital 8 a (new) (8 a) In addition, it is appropriate to reinforce the social dimension of the EFSI implementation such as education, training and vocational training for skills and lifelong learning, innovation in healthcare and medicines and social services.
Amendment 123 #
Proposal for a regulation Recital 8 a (new) (8 a) Cultural and creative sector companies with fewer than 10 employees account for more than 95%1a of the workforce in the sector. _________________ 1a European Commission study EASME/COSME/2015/003.
Amendment 124 #
Proposal for a regulation Recital 8 a (new) (8a) The EFSI may finance projects in the field of security and defence.
Amendment 125 #
Proposal for a regulation Recital 8 b (new) (8b) The discussions on the eligibility of EIB funding for the defence industry highlighted the relevance of its intervention in support of industrial sectors which are considered to contribute to European strategic independence and of SMEs in the defence and internal security sector, which are finding it difficult to attract traditional funding and funding for innovation in this area.
Amendment 126 #
Proposal for a regulation Recital 8 b (new) (8b) The EFSI will support undertakings which take on more staff.
Amendment 127 #
Proposal for a regulation Recital 8 c (new) (8c) In that context, it is understood that the EU guarantee may be granted for EIB financing and investment operations in support of the objectives listed in Article 9(2), including within the limits set by the Treaties, for projects connected with the security and defence sectors. Any change to the EIB’s list of eligible sectors should be subject to the approval of the EIB’s governing bodies.
Amendment 128 #
Proposal for a regulation Recital 9 (9) Additionality, a key feature
Amendment 129 #
Proposal for a regulation Recital 9 (9) Additionality, a key feature of the EFSI, should be strengthened in the selection of projects. In particular, operations should only be eligible for EFSI support if they address clearly identified market failures or sub-optimal investment situations.
Amendment 130 #
Proposal for a regulation Recital 9 (9) Additionality, a key feature of the EFSI, should be strengthened in the selection of projects. In particular, operations should only be eligible for EFSI support if they a
Amendment 131 #
Proposal for a regulation Recital 9 (9) Additionality, a key feature of the EFSI, should be strengthened in the selection of projects. In particular, operations should only be eligible for EFSI support if they address clearly identified market failures
Amendment 132 #
Proposal for a regulation Recital 9 (9) Additionality, a key feature of the EFSI, should be strengthened in the selection of projects. In particular,
Amendment 133 #
Proposal for a regulation Recital 9 (9) Additionality, a key feature of the EFSI, should be s
Amendment 134 #
Amendment 135 #
Proposal for a regulation Recital 9 (9) Additionality, a key feature of the EFSI, should be strengthened in the selection of projects. In particular, operations should only be eligible for EFSI support if they address clearly identified market failures or sub-optimal investment situations. Operations in infrastructure under the Infrastructure and Innovation Window linking two or more Member States or regions, including e- infrastructure, should be considered additional given their inherent difficulty and their high added value for the Union. Any project seeking EFSI financing that is co-financed with an ESIF contribution should be considered additional, given the imperative need to create synergies between the different EU funding sources.
Amendment 136 #
Proposal for a regulation Recital 9 (9) Additionality, a key feature of the EFSI, should be strengthened in the selection of projects. In particular, operations should only be eligible for EFSI support if they address clearly identified market failures or sub-optimal investment situations. The purpose of additionality should be limited to ensuring that selected projects are those that could not have otherwise obtained financing on the market due to a higher risk profile. Operations in infrastructure under the Infrastructure and Innovation Window linking two or more Member States, including e-infrastructure, should be considered additional given their inherent difficulty and their high added value for the Union.
Amendment 137 #
Proposal for a regulation Recital 9 (9) Additionality, a key feature of the EFSI, should be strengthened in the selection of projects. In particular,
Amendment 138 #
Proposal for a regulation Recital 9 (9) Additionality, a key feature of the EFSI, should be strengthened in the selection of projects. In particular, operations should only be eligible for EFSI support if they address clearly identified market failures or sub-optimal investment situations. Operations in infrastructure under the Infrastructure and Innovation Window linking two or more Member States or regions, including e- infrastructure, should be as a rule considered additional given their inherent difficulty and their high added value for the Union.
Amendment 139 #
Proposal for a regulation Recital 9 (9) Additionality, a key feature of the EFSI, should be strengthened in the selection of projects. In particular, operations should only be eligible for EFSI support if they address clearly identified market failures or sub-optimal investment situations. Operations in infrastructure under the Infrastructure and Innovation Window linking two or more Member States, as well as operations in insular and peripheral EU regions, including e- infrastructure, should be considered additional given their inherent difficulty and their high added value for the Union.
Amendment 140 #
Proposal for a regulation Recital 9 (9) Additionality, a key feature of the EFSI, should be strengthened in the selection of projects. In particular, operations should only be eligible for EFSI support if they address clearly identified market failures or sub-optimal investment situations. Operations in infrastructure under the Infrastructure and Innovation Window linking two or more Member States, including e-infrastructure or the TEN-T and TEN-E networks, should be considered additional given their inherent difficulty and their high added value for the Union.
Amendment 141 #
Proposal for a regulation Recital 9 (9) Additionality, a key feature of the EFSI, should be strengthened in the selection of projects. In particular, operations should only be eligible for EFSI support if they address clearly identified market failures or sub-optimal investment situations. Operations in infrastructure under the Infrastructure and Innovation Window linking two or more Member States or areas, including e-infrastructure, should be considered additional given their inherent difficulty and their high added value for the Union.
Amendment 142 #
Proposal for a regulation Recital 9 a (new) (9 a) It is erroneously argued that there is a higher degree of risk involved in investing in cultural and creative industries compared with other types of business; that argument is based, inter alia, on the fact that cultural and creative industries are IPR-intensive and that there are difficulties involved in using intangible goods as guarantees for financing.
Amendment 143 #
Proposal for a regulation Recital 9 a (new) (9 a) The fulfilment of the additionality criteria is dependent upon region specific economic conditions, as a project may be additional in one region but not in another. The Investment Committee, therefore should take into account region specific conditions when assessing compliance with the additionality criterion.
Amendment 144 #
Proposal for a regulation Recital 9 a (new) (9 a) The EFSI should neither contradict the achievements of the European Social Fund (ESF), the EU's cohesion policy, especially the achievements of the European Structural and Investment Funds (ESIF), nor contradict the goals of the Europe 2020 strategy.
Amendment 145 #
Proposal for a regulation Recital 9 a (new) (9 a) The EIB has also the responsibility to supervise and do a cost-benefit analysis also those projects between 10 and 50 million euros to avoid misuses of the EFSI fund at national level.
Amendment 146 #
Proposal for a regulation Recital 9 a (new) (9a) The EFSI and the EIB should provide ex ante advice to the Member States with a view to identifying potential projects.
Amendment 147 #
Proposal for a regulation Recital 10 Amendment 148 #
Proposal for a regulation Recital 10 (10)
Amendment 149 #
Proposal for a regulation Recital 10 (10)
Amendment 150 #
Proposal for a regulation Recital 10 (10)
Amendment 151 #
Proposal for a regulation Recital 10 (10) Due to their potential to increase the efficiency of the EFSI intervention, blending operations combining non- reimbursable forms of support and/or financial instruments from the Union budget, such as those available under the Connecting Europe Facility, and financing from EIB Group, including EIB financing under the EFSI, as well as other investors should be encouraged. Blending aims to enhance the value added of Union spending by attracting additional resources from private investors and to ensure the actions supported become economically and financially viable. Further action to ensure that EU funds and EFSI support can be easily combined is necessary. The Commission has already published a concrete guidance on this matter, however the approach on the issue of combining the EFSI with the EU funds should be further developed while taking into account economic efficiency and adequate leverage.
Amendment 152 #
Proposal for a regulation Recital 10 (10) Due to their potential to increase the efficiency of the EFSI intervention, blending operations combining non- reimbursable forms of support and/or financial instruments from the Union budget, such as those available under the Connecting Europe Facility, and financing from EIB Group, including EIB financing under the EFSI, as well as other investors should be encouraged. Blending aims to enhance the value added of Union spending by attracting additional resources from private investors and to ensure the actions supported become economically and financially viable. The combined use of EFSI and ESIF can help attain a wider geographical coverage of EFSI. The way these funds are blended should be further developed and simplified.
Amendment 153 #
Proposal for a regulation Recital 10 a (new) (10) Without prejudice to the prerogatives of the Council in the implementation of the Stability and Growth Pact (SGP), contributions by Member States, either by a Member State or by national promotional banks classified in the general government sector or acting on behalf of a Member State, into the EFSI or national, thematic or multi-country investment platforms established for the implementation of the Investment Plan, should in principle qualify as one-off measures, within the meaning of Article 5 of Council Regulation (EC) No 1466/97and Article 3 of Council Regulation (EC) No 1467/97.
Amendment 154 #
Proposal for a regulation Recital 10 a (new) (10 a) In order to strengthen additionality and to avoid crowding-out the European Commission should set up the position of an EFSI ombudsman who acts as potential point of contact for financing partners claiming to have been crowded out. The ombudsman should have regular access to meetings of the EFSI investment committee. During the meetings the ombudsman should be able to present pending complaints and to suggest actions addressing these complaints.
Amendment 155 #
Proposal for a regulation Recital 10 a (new) (10 a) With a view to contributing to the Union objective of economic, social, and territorial cohesion and reducing regional disparities, the geographic balance of EFSI support needs urgently be enhanced by providing for effective implementation of geographic diversification and by strengthening the role of the European Investment Advisory Hub (EIAH), including the creation of decentralised regional clusters of technical assistance.
Amendment 156 #
Proposal for a regulation Recital 10 a (new) (10 a) The EIB should address the lack of EFSI funding to cultural and creative industries by promoting the interaction with Creative Europe and the Cultural and Creative Sector Guarantee Facility, in order to provide fit-for-purpose loans for cultural and creative industries.
Amendment 157 #
Proposal for a regulation Recital 11 Amendment 158 #
(11) In order to reinforce the take-up of the EFSI in
Amendment 159 #
Proposal for a regulation Recital 11 (11) In order to reinforce the take-up of the EFSI in
Amendment 160 #
Proposal for a regulation Recital 11 (11) In order to reinforce the take-up of the EFSI in less-developed and transition regions, the scope of the general objectives eligible for EFSI support should be enlarged. The entry threshold in terms of project size should also be adapted to local markets, in order to ensure that small- scale projects are not deterred from applying for EFSI financing. The Commission and the EIB should also continue their local/national campaigns to help explain and promote the benefits of the Investment Plan.
Amendment 161 #
Proposal for a regulation Recital 11 (11) In order to reinforce the take-up of the EFSI in less-developed and transition regions, and to encourage social and regional cohesion through the creation of quality jobs and the broadening and improvement of the productive base of Member States, especially those most affected by the crisis, the scope of the general objectives eligible for EFSI support should be enlarged.
Amendment 162 #
Proposal for a regulation Recital 11 (11) In order to reinforce the take-up of the EFSI in less-developed and transition regions, the scope of the general objectives eligible for EFSI support should be enlarged. In order to ensure that small- scale projects are not penalized, NPBs and institutions could facilitate their financing also through investment platforms development.
Amendment 163 #
Proposal for a regulation Recital 11 (11) In order to reinforce the take-up of the EFSI in less-developed and transition regions, the scope of the general objectives eligible for EFSI support should be enlarged and allow for additional technical assistance to Member States which have not been using funds successfully, especially in the project preparation phase.
Amendment 164 #
Proposal for a regulation Recital 11 (11) In order to reinforce the take-up of the EFSI in less-developed and transition regions, the scope of the general objectives eligible for EFSI support should be enlarged
Amendment 165 #
Proposal for a regulation Recital 11 (11) In order to reinforce the take-up of the EFSI in less-developed and transition regions, the scope of the general objectives eligible for EFSI support should be enlarged, without prejudice to the requirement for all projects to meet the eligibility criteria including additionality.
Amendment 166 #
Proposal for a regulation Recital 11 (11) In order to reinforce the take-up of the EFSI in less-developed and transition regions, the scope of the general objectives eligible for EFSI support should be enlarged ensuring a balanced distribution of projects across the EU, so that all Member States have access to finance.
Amendment 167 #
Proposal for a regulation Recital 11 (11) In order to reinforce the take-up of the EFSI in less-developed and transition regions, the scope of the general objectives eligible for EFSI support should be enlarged. Further action to strengthen technical assistance in these regions is necessary.
Amendment 168 #
Proposal for a regulation Recital 11 (11) In order to reinforce the take-up of the EFSI, particularly in European areas with high levels of unemployment and in less-developed and transition are
Amendment 169 #
Proposal for a regulation Recital 11 (11) In order to reinforce the take-up of the EFSI in less-developed and transition regions, the scope of the general objectives
Amendment 170 #
Proposal for a regulation Recital 11 a (new) (11a) The synergy and potential complementarity between ESIF and EFSI projects in supporting sustainable investment and in attaining Union climate and energy objectives could contribute to territorial development and cohesion, enhancing the added value of the EFSI for the Union.
Amendment 171 #
Proposal for a regulation Recital 11 a (new) (11 a) The potential synergy and complementarity between ESIF and EFSI projects in supporting sustainable investment and in reaching Union climate objectives could contribute to territorial development and cohesion and enhance the added value of EFSI for the Union.
Amendment 172 #
Proposal for a regulation Recital 11 a (new) (11 a) While EFSI and the European Structural and Investment Funds (ESIF) are in a way complementary, supporting strategic investments of European added value to achieve the Union policy objectives, it has to be reminded, that their scope, objectives, rationale, design as well as legal and regulatory framework are purposefully different.
Amendment 173 #
Proposal for a regulation Recital 11 a (new) (11 a) The initial results reveal that Member States with greater technical and administrative capacity as well as financial institutions are taking greater advantage of EFSI. In order to enhance the capacity of some countries in taking advantage of the EFSI, the EIB and the Commission will work further to support those lagging behind.
Amendment 174 #
Proposal for a regulation Recital 11 a (new) (11a) It is important to count the low level of development of the region where the project is being carried out, or from which the beneficiary comes, as an additional specific risk factor, given that the objective of the European Fund for Strategic Investments is to allocate funds to high-risk projects.
Amendment 175 #
Proposal for a regulation Recital 11 a (new) (11 a) It is appropriate to encourage partnerships with National Promotional Banks or Institutions including for setting up Investment Platforms and, where, on a case by case basis, the National Promotional Banks or Institutions could select projects thereafter.
Amendment 176 #
Proposal for a regulation Recital 11 a (new) (11 a) Although cooperation between the EIB and national promotional banks or institutions and investment platforms is encouraged, such a cooperation should in no way be detrimental to Member States which have not established such institutions or platforms.
Amendment 177 #
Proposal for a regulation Recital 11 b (new) (11b) A detailed activity report should be presented on the achievement of those objectives through the projects financed, taking account of additional criteria on the allocation of funds geared to social and environmental factors or corresponding areas of European funding.
Amendment 178 #
Proposal for a regulation Recital 12 Amendment 179 #
Proposal for a regulation Recital 12 Amendment 180 #
Proposal for a regulation Recital 12 (12) For the
Amendment 181 #
Proposal for a regulation Recital 13 Amendment 182 #
Proposal for a regulation Recital 13 Amendment 183 #
Proposal for a regulation Recital 13 (13) I
Amendment 184 #
Proposal for a regulation Recital 13 (13) It is expected that when the EU guarantee is combined with the EUR 7 500 000 000 to be provided by the EIB, the EFSI support should generate EUR 100 000 000 000 additional investment by the EIB and EIF. The amount of EUR 100 000 000 000 supported by the EFSI is expected to generate at least EUR 500 000 000 000 of additional investment in the real economy by the end of 2020. Likewise, the contributions from Member States will generate an additional EUR 150 000 000 in order to guarantee or generate at least EUR 1 000 000 000 000 in investments beyond 2020.
Amendment 185 #
Proposal for a regulation Recital 14 Amendment 186 #
Proposal for a regulation Recital 14 Amendment 187 #
Proposal for a regulation Recital 14 (14) In order to partly finance the contribution from the general budget of the Union to the EU guarantee fund for the additional investments to be made, a transfer should be made from the available envelope of the Connecting Europe Facility (CEF), provided for in Regulation (EU) No 1316/2013 of the European Parliament and of the Council4 . Moreover, EUR 1 145 797 000 of appropriations should be transferred from the CEF financial instruments to the grant part of the CEF
Amendment 188 #
Proposal for a regulation Recital 15 Amendment 189 #
Proposal for a regulation Recital 16 (16)
Amendment 190 #
Proposal for a regulation Recital 16 (16) In line with the exceptional market demand for SME financing under the EFSI
Amendment 191 #
Proposal for a regulation Recital 16 (16)
Amendment 192 #
Proposal for a regulation Recital 16 (16) In line with the exceptional market demand for SME financing under the EFSI which is expected to continue, the EFSI SME Window should be enhanced. Particular attention should be paid to social enterprises, including through the development and deployment of new instruments. The attractiveness of investment in social services such as education, training and healthcare should be increased. More investment is also needed in social inclusion.
Amendment 193 #
Proposal for a regulation Recital 16 (16) In line with the exceptional market demand for SME financing under the EFSI which is expected to continue, the EFSI SME Window should be enhanced. Particular attention should be paid to social enterprises, including through the development and deployment of new instruments. Public subsidiaries which fit the employee and profit ceilings established by Commission Recommendation 2003/361/EC should be considered to be eligible to apply for funding through the EFSI SME Window.
Amendment 194 #
Proposal for a regulation Recital 16 (16) In line with the exceptional market demand for SME financing under the EFSI which is expected to continue, the EFSI SME Window should be enhanced. Particular attention should be paid to social enterprises, including through the development and deployment of new instruments,. as well as to support for a stronger communication campaign in EU regions around the potential added value of EFSI for SME's.
Amendment 195 #
Proposal for a regulation Recital 16 (16) In line with the exceptional market demand for SME financing under the EFSI which is expected to continue, the EFSI SME Window should be enhanced. Particular attention should be paid to social enterprises and social services, including through the development and deployment of new instruments, adequate for the sector's needs and specificities.
Amendment 196 #
Proposal for a regulation Recital 16 (16) In line with the exceptional market demand for SME financing under the EFSI which is expected to continue, the EFSI SME Window should be enhanced. Particular attention should be paid to social enterprises and cooperatives, including through the development, promotion and deployment of new instruments, in particular the EIF.
Amendment 197 #
Proposal for a regulation Recital 16 a (new) (16 a) Investment platforms participating in EFSI shall be able to work in a cross- border basis in order to increase their efficiency and to reduce geographical imbalances.
Amendment 198 #
Proposal for a regulation Recital 16 b (new) (16 b) In the framework of a partnership between the Investment Committee and an investment platform, a national promotional bank or an institution, the Investment Committee may at any time supervise the project selection procedure applied in order to guarantee the respect of this Regulation.
Amendment 199 #
Proposal for a regulation Recital 16 c (new) (16 c) Simplification is needed in the procedures for processing operations so that the information which final beneficiaries, especially SMEs are required to provide is the minimum necessary to ensure their success without imposing an excessive bureaucratic burden on SMEs.
Amendment 200 #
Proposal for a regulation Recital 17 (17) The EIB and the EIF should ensure that the final beneficiaries, including SMEs, are informed of the existence of EFSI support, so as to enhance the visibility of the EU guarantee granted under Regulation (EU) 2015/1017. The EFSI logo should be prominently placed in the financing agreement, particularly in the case of SMEs, so as to increase the visibility of the EFSI as a Union initiative.
Amendment 201 #
Proposal for a regulation Recital 17 (17) The EIB and the EIF should ensure that the final beneficiaries, including SMEs, are informed of the existence of EFSI support, so as to enhance the visibility of the EU guarantee granted under Regulation (EU) 2015/1017. In this regard, recognizes the role of Local and Regional Authorities in identifying strategic projects and encourages their participation.
Amendment 202 #
Proposal for a regulation Recital 17 (17) The EIB and the EIF should ensure that the final beneficiaries, including SMEs, social enterprises and cooperatives, are informed of the existence of EFSI support, so as to enhance the visibility of the EU guarantee granted under Regulation (EU) 2015/1017.
Amendment 203 #
Proposal for a regulation Recital 17 (17) The EIB and the EIF should ensure that the final beneficiaries, including start- ups and SMEs, are informed of the existence of EFSI support, so as to enhance the visibility of the EU guarantee granted under Regulation (EU) 2015/1017.
Amendment 204 #
Proposal for a regulation Recital 17 a (new) (17a) To make the EFSI transparent, the EIB should publish all the information in and results of impact assessments of the operations conducted, and should also explain the added value and additionality of each individual project funded. Similarly, the EIB must publish disaggregated statistics on each project funded, including EFSI lending through financial intermediaries, giving ex-ante and ex-post assessments of each project with a detailed explanation of the selection and assessment indicators and criteria used. Finally, it is necessary to publish objective data relating to jobs directly and indirectly created through the EFSI.
Amendment 205 #
Proposal for a regulation Recital 17 a (new) (17a) The European Investment Bank should not turn the interest rate on funds granted in the form of loans into a deterrent and burden for beneficiaries, given the importance of allocating funds to projects and zones with a high risk factor; the European Investment Bank should increase transparency regarding the interest rate and commission charged for EFSI projects across the European Union, and ensure that these do not become elements of discrimination between different categories of beneficiaries or between regions.
Amendment 206 #
Proposal for a regulation Recital 17 a (new) (17 a) Industries in the cultural and creative sector, because of their specific nature - namely, the unlikeliness of employment in this sector of being offshored and their reliance on specific cultural, often regional and historical competences - can disseminate more and better than other sectors information about funding opportunities provided by EFSI.
Amendment 207 #
Proposal for a regulation Recital 17 a (new) (17 a) Considers that the possibility should be considered of extending EFSI financing to other financial initiatives launched by the Commission and managed through the EIF as the Cultural and Creative Sector Guarantee Facility (CCS GF).
Amendment 208 #
Proposal for a regulation Recital 17 a (new) (17 a) Major information campaigns in Member States must be put in place to strengthen dialogue with national and local authorities which would allow to increase private investment and avoid regional and sectorial concentration.
Amendment 209 #
Proposal for a regulation Recital 18 (18) With a view to enhancing the transparency of EFSI operations, the
Amendment 210 #
Proposal for a regulation Recital 18 (18) With a view to enhancing the transparency of EFSI operations, the Investment Committee should explain in its decisions, which are made public and accessible, the reasons why it deems that an operation should be granted the EU guarantee, with particular focus on compliance with the additionality criterion. The scoreboard of indicators should be made public once an operation under the EU guarantee is
Amendment 211 #
Proposal for a regulation Recital 18 (18) With a view to enhancing the transparency of EFSI operations, the Investment Committee should explain in its decisions, which are made public and accessible, the reasons why it deems that an operation should be granted the EU guarantee, with particular focus on compliance with the additionality criterion. The scoreboard of indicators should be made public once an operation under the EU guarantee is signed. There should be greater transparency regarding the scoring and assessment system for projects, through publication of the assessment reports and the criteria on the basis of which a project has been approved or rejected.
Amendment 212 #
Proposal for a regulation Recital 18 a (new) (18a) In order to overcome the almost total lack of information and disaggregated statistical data on the projects financed thus far, in particular with regard to the expected impact, benefits and additionality of each individual project, the EIB is asked to publish all available information about, and findings of, impact assessments for operations carried out within the framework of the EFSI. The EIB is also called upon to provide a detailed explanation of the added value and additionality of each project financed and of how each one contributes to the achievement of EFSI objectives and the fundamental long-term strategies and objectives of the EU. In the same way, the EIB should report on the results achieved by the EFSI to gauge the real economic, social and environmental impact, the real added value and the additionality of the projects financed, as well as the actual capacity of the Fund to achieve the stated objectives.
Amendment 213 #
Proposal for a regulation Recital 18 a (new) (18 a) New figures and updates shall be released regularly, including independent assessments drawing on the experience collected so far. Targets will be set in terms of objectives relating to growth and jobs.
Amendment 214 #
Proposal for a regulation Recital 18 a (new) (18 a) The annual country-by-country reports of EFSI will include the exact funding that every project has required.
Amendment 215 #
Proposal for a regulation Recital 19 (19) The operations supported by the EFSI should adhere to the Union's principles of tax good governance and should not involve financing or investment operations through vehicles located in jurisdictions not cooperating with the Union as regards transparency, exchange of information, anti-money laundering and fair taxation.
Amendment 216 #
Proposal for a regulation Recital 19 (19) The operations supported by the EFSI should adhere to the Union's principles of tax good governance, and consequently the EIB may not use accounts domiciled in non-cooperative jurisdictions, or work with entities operating in tax havens.
Amendment 217 #
Proposal for a regulation Recital 19 (19) The operations supported by the EFSI should adhere to the Union's principles of tax good governance and its social acquis.
Amendment 218 #
Proposal for a regulation Recital 19 a (new) (19a) All information material and material forming part of the financing procedure should be translated into all the languages of the Member States, in order to facilitate information and access at local level.
Amendment 219 #
Proposal for a regulation Recital 21 (21) The European Investment Advisory Hub (EIAH) should be enhanced and its activities should
Amendment 220 #
Proposal for a regulation Recital 21 (21) The European Investment Advisory Hub (EIAH) should be enhanced and its activities should focus on
Amendment 221 #
Proposal for a regulation Recital 21 (21) The European Investment Advisory Hub (EIAH) should be enhanced and
Amendment 222 #
Proposal for a regulation Recital 21 (21) The European Investment Advisory Hub (EIAH) should be enhanced and its activities should
Amendment 223 #
Proposal for a regulation Recital 21 (21) The European Investment Advisory Hub (EIAH) should be enhanced through increased accessibility and transparency, and its activities should focus on needs not covered adequately under current arrangements. It should pay particular attention to supporting the preparation of projects providing genuine additionality, involving two or more Member States and projects that contribute to achieving the objectives of COP21, and the Europe 2020 strategy, including tackling poverty and social exclusion. Notwithstanding its objective to build upon existing advisory services of the EIB and the Commission, so to act as a single technical advisory hub for project financing within the Union, the EIAH should also contribute actively to the objective of sectorial and geographical diversification of the EFSI and support the EIB where needed in originating
Amendment 224 #
Proposal for a regulation Recital 21 (21) The European Investment Advisory Hub (EIAH) should be enhanced and its activities should focus on needs not covered adequately under current arrangements. It should pay particular attention to supporting the preparation of projects involving two or more Member States and projects that contribute to achieving the objectives of COP21. Notwithstanding its objective to build upon existing advisory services of the EIB and the Commission, so to act as a single technical advisory hub for project financing within the Union, the EIAH should also contribute actively to the objective of sectorial and geographical diversification of the EFSI and support the EIB where needed in originating projects
Amendment 225 #
Proposal for a regulation Recital 21 (21) The European Investment Advisory Hub (EIAH) should be enhanced and its activities should focus on needs not covered adequately under current arrangements. It should pay particular attention to supporting the preparation of projects involving two or more Member States and projects that contribute to achieving the objectives of COP21. Notwithstanding its objective to build upon existing advisory services of the EIB and the Commission, so to act as a single technical advisory hub for project financing within the Union, the EIAH should also contribute actively to the objective of sectorial and geographical diversification of the EFSI and support the EIB where needed in originating projects and take into account the specificities of Member States such as maturity of financial markets, the limited experience in the use of complex financial instruments, specific obstacles related to the development and implementation of projects. It should also actively contribute to the establishment of investment platforms and provide advice on the combination of other sources of Union funding with the EFSI.
Amendment 226 #
Proposal for a regulation Recital 21 (21) The European Investment Advisory Hub (EIAH) should be enhanced and its activities should focus on needs not covered adequately under current arrangements in EU Member States and regions which have not yet adequately benefitted from EFSI. It should pay particular attention to supporting the preparation of projects involving two or more Member States and projects that contribute to achieving the objectives of COP21. Notwithstanding its objective to build upon existing advisory services of the EIB and the Commission, so to act as a single technical advisory hub for project financing within the Union, the EIAH should also contribute actively to the objective of sectorial and geographical diversification of the EFSI and support the EIB where needed in originating projects. It should
Amendment 227 #
Proposal for a regulation Recital 21 (21) The European Investment Advisory Hub (EIAH) should be enhanced and its activities should focus on needs not covered adequately under current arrangements and support the submission of high quality EFSI project proposals. It should pay particular
Amendment 228 #
Proposal for a regulation Recital 21 (21) The European Investment Advisory Hub (EIAH) should be enhanced and its activities should focus on needs not covered adequately under current arrangements. It should pay particular attention to supporting the preparation of projects involving two or more Member States, two or more regions or a cross- border macro-region, and projects that contribute to achieving the objectives of COP21. Notwithstanding its objective to build upon existing advisory services of the EIB and the Commission, so to act as a single technical advisory hub for project financing within the Union, the EIAH should also contribute actively to the
Amendment 229 #
Proposal for a regulation Recital 21 (21) The European Investment Advisory Hub (EIAH) should be enhanced and its activities should focus on needs not covered adequately under current arrangements. It should pay particular attention to supporting the preparation of projects involving two or more Member States or areas and projects that contribute to achieving the objectives of COP21 and of Europe 2020 Strategy. Notwithstanding its objective to build upon existing advisory services of the EIB and the Commission, so to act as a single technical advisory hub for project financing within the Union, the EIAH should also contribute actively to the objective of sectorial and geographical diversification of the EFSI and support the EIB where needed in originating projects. It should also actively contribute to the establishment of investment platforms and provide advice on the combination of other sources of Union funding with the EFSI.
Amendment 230 #
Proposal for a regulation Recital 21 a (new) (21 a) In order to address market failures and gaps, to stimulate adequate additional investments, and to promote the geographic and regional balance of EFSI-backed operations, an integrated and streamlined approach to the aim of promoting growth, jobs and investments is necessary. The Steering Board should set out guidelines which foresee that: - if appropriate, EFSI should take a junior position versus other investors, and the pricing of the guarantee should be modulated including blending where necessary to enable projects in order to maximize leverage of funds and to take into account local market conditions; - the pricing policy for equity-type operations taking into account that pricing levels should, if appropriate, remain behind market prices significantly, without, however, jeopardizing significantly the revenues of the EU budget. According to the principle of subsidiarity, a higher pricing can be agreed where the private or public investors plan to bring in sufficient equity risk taking money.
Amendment 231 #
Proposal for a regulation Recital 21 a (new) (21 a) In order to address market failures and gaps, to stimulate adequate additional investments, and to promote the geographic and regional balance of EFSI-backed operations, an integrated and streamlined approach to the aim of promoting growth, jobs and investments is necessary. The Steering Board should set out guidelines which foresee that: - as a general rule and unless duly justified, EFSI should take a junior position versus other investors, and the pricing of the guarantee should be modulated including blending where necessary to enable projects in order to maximize leverage of funds and to take into account local market conditions; - the pricing policy for equity-type operations taking into account that pricing levels shall remain behind market prices significantly. According to the principle of subsidiarity, a higher pricing can be agreed where the private or public investors plan to bring in sufficient equity risk taking money.
Amendment 232 #
Proposal for a regulation Recital 21 a (new) (21 a) The Commission should identify alternative sources of financing for any future extension of EFSI beyond the current multiannual financial framework, and no further funding should be diverted from Regulation (EU) No 1291/2013, in view of the challenges posed to Europe's position as a global leader in science, research and discovery.
Amendment 233 #
Proposal for a regulation Recital 21 a (new) (21a) Increased funding should be provided to enable the Advisory Hub to set up offices and advisory services in all Member States for the purpose of ensuring greater access, gaining an understanding of the specific situation at national and regional level and improving information and communication on the EFSI.
Amendment 234 #
Proposal for a regulation Recital 21 a (new) (21 a) To promote the investment goals of this Regulation, blending with existing funds should be systematically enabled in order to provide adequate concessionalities in the financing terms and conditions, including the pricing, of EFSI operations.
Amendment 235 #
Proposal for a regulation Recital 21 a (new) (21 a) The European Fund for Strategic Investments should be enhanced through the inclusion of a gender perspective as a successful process of recovery is not possible without addressing the impact of the crises on women1a. _________________ 1aEP INI on poverty: a gender perspective, 2015/2228(INI); EP INI on EU funds for gender equality 2016/2144(INI)
Amendment 236 #
Proposal for a regulation Recital 21 a (new) (21 a) Blending with existing funds, in order to promote the investment goals of this Regulation, should be encouraged as it would enable providing adequate concessionalities in the financing terms and conditions.
Amendment 237 #
Proposal for a regulation Recital 21 a (new) (21 a) A precise quali-quantitative analysis of the results shall be published at the latest next year with a special focus on the number of jobs created and the impacts of EFSI investments on direct and indirect jobs.
Amendment 238 #
Proposal for a regulation Recital 21 a (new) (21 a) The definition of the powers and responsibilities of the European Platform for advice on investments, Steering Committee and Investment Committee should be further clarified.
Amendment 239 #
Proposal for a regulation Recital 21 a (new) (21a) Both the opportunities offered by the EFSI and its results should be publicised via radio, television, the internet, press and billboards.
Amendment 240 #
Proposal for a regulation Recital 21 a (new) (21 a) An even higher risk profile should be accepted for research, development and innovation projects.
Amendment 241 #
Proposal for a regulation Recital 21 b (new) (21b) A positive view should be taken of the possibility for certain EFSI funding to be offered in the form of participation in the projects financed; given the possibility for certain financing to be offered in this form, it would also be appropriate to integrate this system into public projects submitted for funding.
Amendment 242 #
Proposal for a regulation Recital 21 b (new) (21 b) The European Central Bank has expressed its readiness to buy EFSI bonds if they are issued.
Amendment 243 #
Proposal for a regulation Recital 21 b (new) (21b) The EFSI should be granted legal personality in order to boost its effectiveness.
Amendment 244 #
Proposal for a regulation Recital 21 c (new) (21 c) The investment decisions shall take into account Member States, regions, and municipalities that suffer high unemployment levels or sudden increases in the unemployment rate.
Amendment 245 #
Proposal for a regulation Recital 21 c (new) (21c) The EFSI should have unlimited duration.
Amendment 246 #
Proposal for a regulation Recital 21 d (new) (21d) Member State contributions will be set in order to increase the EFSI’s financing capacity.
Amendment 247 #
Proposal for a regulation Recital 21 e (new) (21e) Transnational, national and regional investment platforms should be better known, more flexible and more attractive for public and private investors, since among other advantages, the public capital disbursed does not count towards calculating the public deficit.
Amendment 248 #
Proposal for a regulation Recital 22 (22) Regulation (EU)
Amendment 249 #
Proposal for a regulation Article 1 – paragraph 1 – introductory part Regulation (EU) No 2015/1017
Amendment 250 #
Proposal for a regulation Article 1 – paragraph 1 – point -1 (new) Regulation (EU) No 2015/1017 Article 1 a (new) (-1) The following Article 1a is inserted: ‘Article 1a Legal personality The EFSI shall have legal personality.’
Amendment 251 #
Proposal for a regulation Article 1 – paragraph 1 – point -1 a (new) Regulation (EU) No 2015/1017 Article 1 b (new) (-1a) The following Article 1b is inserted: ‘Article 1b Duration of the EFSI The EFSI shall be permanent.’
Amendment 252 #
Proposal for a regulation Article 1 – paragraph 1 – point -1 b (new) Regulation (EU) No 2015/1017 Article 1 c (new) (-1b) The following Article 1c is inserted: ‘Article 1c Issuing of bonds The EFSI may issue bonds directly in order to finance its operations.’
Amendment 253 #
Proposal for a regulation Article 1 – paragraph -1 (new) Regulation (EU) No 2015/1017 Article 2 – point 4 – point b Amendment 254 #
Proposal for a regulation Article 1 – paragraph -1 (new) Regulation (EU) No 2015/1017 Article 2 – point 8 a (new) (-1) in Article 2 the following point is added: ‘(8a) Strategic operation' means an investment project or program that has as its primary aim the realisation of infrastructure, physical capital, goods or services that contribute to social and environmental policy objectives of the European Union or to the UN 2030 Agenda for Sustainable Development;’;
Amendment 255 #
Proposal for a regulation Article 1 – paragraph 1 – point 1 Regulation (EU) No 2015/1017 Article 4 – paragraph 2 Amendment 256 #
Proposal for a regulation Article 1 – paragraph 1 – point 1 – point a Regulation (EU) No 2015/1017 Article 4 – paragraph 2 – point a – point ii Amendment 257 #
Proposal for a regulation Article 1 – paragraph 1 – point 1 – point a a (new) Regulation (EU) No 2015/1017 Article 4 – paragraph 2 – point a – point iv (a a) in point (a), point (iv) is replaced by the following: ‘(iv) the pricing of EFSI backed operations under the EU guarantee, which is to be in line with the EIB's general pricing policy, taking into account that EFSI's aim is to address market failures and gaps, to stimulate adequate additional geographic and regional balance of EFSI backed operations, and therefore an integrated and streamlined approach to the aim of growth, jobs and investments is necessary;’;
Amendment 258 #
Proposal for a regulation Article 1 – paragraph 1 – point 1 – point a a (new) Regulation (EU) No 2015/1017 Article 4 – paragraph 2 – point a – point iv (a a) in point (a), point (iv) is replaced by the following: ‘(iv) the pricing of operations under the EU guarantee which is to be in line with the EIB's general pricing policy and shall take into account the aim of the EFSI to address market failures and gaps;’;
Amendment 259 #
Proposal for a regulation Article 1 – paragraph 1 – point 1 – point a a (new) Regulation (EU) No 2017/1017 Article 4 – paragraph 2 – point b – point iii (a a) in point (b), point (iii) is replaced by the following: ‘(iii) a provision that the Steering Board is to take decisions by consensus; in the event that a consensus cannot be reached, the Steering Board shall decide by a three-fourths majority of its component members;’;
Amendment 260 #
Proposal for a regulation Article 1 – paragraph 1 – point 1 – point b Regulation (EU) No 2015/1017 Article 4 – paragraph 2 – point c – point i Amendment 261 #
Proposal for a regulation Article 1 – paragraph 1 – point 1 – point b a (new) Regulation (EU) 2015/1017 Article 4 – Paragraph 2 – point f – point iv (b a) in point (f), point (iv) is replaced by the following: "(iv) key performance indicators, in particular as regards the use of the EU guarantee, the fulfilment of the objectives and criteria laid down in Articles 6 and 9 and Annex II, the mobilisation of private capital, and the macro-economic impact of the EFSI, including its effect on supporting investment and job creation;"
Amendment 262 #
Proposal for a regulation Article 1 – paragraph 1 – point 2 Regulation (EU) No 2015/1017 Article 5 – paragraph 1 (2)
Amendment 263 #
Proposal for a regulation Article 1 – paragraph 1 – point 1 a (new) Regulation (EU) No 2015/1017 Article 5 – paragraph 1 – subparagraph 1 Amendment 264 #
Proposal for a regulation Article 1 – paragraph 1 – point 1 a (new) Regulation (EU) No 2015/1017 Article 5 – paragraph 1 – subparagraph 2 Amendment 265 #
Proposal for a regulation Article 1 – paragraph 1 – point 1 a (new) Regulation (EU) No 2015/1017 Article 5 – paragraph 1 – subparagraph 2 Amendment 266 #
Proposal for a regulation Article 1 – paragraph 1 – point 1 a (new) Regulation (EU) No 2015/1017 Article 5 – paragraph 1– subparagraph 2 Amendment 267 #
Proposal for a regulation Article 1 – paragraph 1 – point 1 a (new) Regulation (EU) No 2015/117 Article 5 – paragraph 1 – subparagraph 2 Amendment 268 #
Proposal for a regulation Article 1 – paragraph 1 – point 1 b (new) Regulation (EU) No 2015/1017 Article 5 – paragraph 1 – subparagraph 2 1b) In Article 5(1) subparagraph 2 shall be replaced by the following: ‘The projects supported by the EFSI, while striving to create employment and sustainable growth, shall be considered to provide additionality if the
Amendment 269 #
Proposal for a regulation Article 1 – paragraph 1 – point 2 Regulation (EU) No 2015/1017 Article 5 – paragraph 1 – subparagraph 3 Amendment 270 #
Proposal for a regulation Article 1 – paragraph 1 – point 2 Regulation (EU) No 2015/1017 Article 5 – paragraph 1 – subparagraph 3 Amendment 271 #
Proposal for a regulation Article 1 – paragraph 1 – point 2 Regulation (EU) No 2015/1017 Article 5 – paragraph 1 – subparagraph 3 To better address
Amendment 272 #
Proposal for a regulation Article 1 – paragraph 1 – point 2 Regulation (EU) No 2015/2017 Article 5 – paragraph 1– subparagraph 3 To better address market failures or sub- optimal investment situations,
Amendment 273 #
Proposal for a regulation Article 1 – paragraph 1 – point 2 Regulation (EU) No 2015/1017 Article 5 – paragraph 1 – subparagraph 3 To better address market failures or sub- optimal investment situations, thereby ensuring complementarity and thus avoiding crowding out vis-à-vis participants in the same market, EIB special activities supported by the EFSI shall
Amendment 274 #
Proposal for a regulation Article 1 – paragraph 1 – point 2 Regulation (EU) No 2015/1017 Article 5 – paragraph 1 – subparagraph 3 To better address market failures or sub- optimal investment situations, whereby ensuring complementarity and thus avoiding crowding out vis-a-vis participants in the same market, EIB special activities supported by the EFSI shall typically have features such as subordination, participation in risk-sharing instruments, cross-border characteristics, exposure to specific risks or other identifiable aspects as further described in Annex II in order to ensure additionality.
Amendment 275 #
Proposal for a regulation Article 1 – paragraph 1 – point 2 Regulation (EU) No 2015/1017 Article 5 – paragraph 1 – subparagraph 3 To better address market failures
Amendment 276 #
Proposal for a regulation Article 1 – paragraph 1 – point 2 Regulation (EU) No 2015/1017 Article 5 – paragraph 1 – subparagraph 3 ‘To better address market failures or sub- optimal investment situations, thereby ensuring additionality and avoiding crowding out other participants in the same market, EIB special activities supported by the EFSI shall typically
Amendment 277 #
Proposal for a regulation Article 1 – paragraph 1 – point 2 Regulation (EU) No 2015/2017 Article 5 – paragraph 1– subparagraph 3 To better address market failures or sub- optimal investment situations, EIB special activities supported by the EFSI shall typically have features such as subordination, participation in risk-sharing instruments, cross-border characteristics, exposure to specific risks or other identifiable aspects as further described in Annex II, in order to ensure additionality.
Amendment 278 #
Proposal for a regulation Article 1 – paragraph 1 – point 2 Regulation (EU) No 2015/2017 Article 5 – paragraph 1– subparagraph 3 To better address market failures or sub- optimal investment situations, EIB special activities supported by the EFSI shall typically have features such as subordination, participation in risk-sharing instruments, cross-border characteristics, European added value, exposure to specific risks or other identifiable aspects as further described in Annex II.
Amendment 279 #
Proposal for a regulation Article 1 – paragraph 1 – point 2 Regulation (EU) No 2015/2017 Article 5 – paragraph 1– subparagraph 3 To better address market failures or sub- optimal investment situations, EIB special activities supported by the EFSI shall typically have features such as subordination, participation in risk-sharing instruments, cross-border or peripheral characteristics, exposure to specific risks or other identifiable aspects as further described in Annex II.
Amendment 280 #
Proposal for a regulation Article 1 – paragraph 1 – point 2 Regulation (EU) No 2015/1017 Article 5 – paragraph 1 – subparagraph 4 EIB projects carrying a risk lower than the minimum risk under EIB special activities may also be supported by the EFSI if the use of the EU guarantee is required to ensure additionality as defined in the first subparagraph of this paragraph. In order to better reach sectors where the demand for financing cannot be sufficiently met by the private market and where the nature and size of operations and loan requirements do not make it possible to access funding through classic EIB activities, EFSI shall also support sector- specific financial mechanisms, in particular for Cultural and Creative Industries (CCIs), provided for under Union frame-work programmes such as the Guarantee Facility within the Creative Europe Programme through the provision of guarantees for topping-up and front- loading of these mechanisms.
Amendment 281 #
Proposal for a regulation Article 1 – paragraph 1 – point 2 Regulation (EU) No 2015/1017 Article 5 – paragraph 1 – subparagraph 5 The projects supported by the EFSI that consist of physical infrastructure linking two or more Member States
Amendment 282 #
Proposal for a regulation Article 1 – paragraph 1 – point 2 Regulation (EU) No 2015/1017 Article 5 – paragraph 1 – subparagraph 5 Amendment 283 #
Proposal for a regulation Article 1 – paragraph 1 – point 2 Regulation (EU) No 2015/1017 Article 5 – paragraph 1 – subparagraph 5 The projects supported by the EFSI that consist of physical infrastructure linking two or more Member States or of the extension of physical infrastructure or services linked to physical infrastructure from one Member State to one or more Member States, shall also be considered to provide additionality
Amendment 284 #
Proposal for a regulation Article 1 – paragraph 1 – point 2 Regulation (EU) No 2015/1017 Article 5 – paragraph 1 – subparagraph 5 Amendment 285 #
Proposal for a regulation Article 1 – paragraph 1 – point 2 Regulation (EU) No 2015/1017 Article 5 – paragraph 1 – subparagraph 5 The projects supported by the EFSI that consist of physical infrastructure linking two or more Member States or of the extension of physical infrastructure or services linked to physical infrastructure
Amendment 286 #
Proposal for a regulation Article 1 – paragraph 1 – point 2 Regulation (EU) No 2015/1017 Article 5 – paragraph 1 – subparagraph 5 The projects supported by the EFSI that consist of physical, non-physical or intangible infrastructure linking two or more Member States or of the extension of physical, non-physical or intangible infrastructure or services linked to physical, non-physical or intangible infrastructure from one Member State to one or more Member States, shall also be considered to provide additionality.;
Amendment 287 #
Proposal for a regulation Article 1 – paragraph 1 – point 2 Regulation (EU) No 2015/1017 Article 5 – paragraph 1 – subparagraph 5 The projects supported by the EFSI that consist of physical infrastructure linking two or more Member States or of the extension of physical infrastructure or services linked to physical infrastructure from one Member State to one or more Member States, as well as those in peripheral islands of the EU, shall also be considered to provide additionality.
Amendment 288 #
Proposal for a regulation Article 1 – paragraph 1 – point 2 Regulation (EU) No 2015/1017 Article 5 – paragraph 1 – subparagraph 5 Amendment 289 #
Proposal for a regulation Article 1 – paragraph 1 – point 2 a (new) Regulation (EU) No 2015/1017 Article 5 – paragraph 1 a (new) (2 a) in Article 5 the following paragraph 1a is added: ‘1a. An EIB financing operation that is co-financing projects or platforms combined with other EU funds (including ESI Funds) should be, by definition, EFSI eligible and considered "additional".’;
Amendment 290 #
Proposal for a regulation Article 1 – paragraph 1 – point 2 a (new) 2015/1017 Article 5 – paragraph 2 – subparagraph 2 Amendment 291 #
(2 a) the following paragraph is added: ‘2a. Furthermore, in line with the pricing policies, the Steering Board shall set out guidelines which foresee that: - if appropriate, EFSI shall take a junior position versus other investors, and the pricing of the guarantee shall be modulated including blending where necessary to enable projects in order to maximize leverage of funds and to take into account local market conditions; - the pricing policy for equity-type operations taking into account that pricing levels shall, if appropriate, remain behind market prices significantly. According to the principle of subsidiarity, a higher pricing can be agreed where the private or public investors plan to bring in sufficient equity risk taking money;’;
Amendment 292 #
Proposal for a regulation Article 1 – paragraph 1 – point 2 a (new) Regulation (EU) No 2015/1017 Article 5 – paragraph 2 a (new) (2 a) the following paragraph is added: 'Furthermore, in line with the pricing policies, the Steering Board shall set out guidelines which foresee that: - as a general rule, EFSI shall take a junior position versus other investors, and the pricing of the EFSI operations shall be modulated including blending where necessary to enable projects in order to maximize leverage of funds and to take into account local market conditions; - the pricing policy for equity-type operations taking into account that pricing levels shall remain behind market prices significantly. According to the principle of subsidiarity, a higher pricing can be agreed where the private or public investors plan to bring in sufficient equity risk taking money.';
Amendment 293 #
Proposal for a regulation Article 1 – paragraph 1 – point 2 a (new) Regulation (EU) No 2015/1017 Article 5 – paragraph 2 a (new) Amendment 294 #
Proposal for a regulation Article 1 – paragraph 1 – point 2 a (new) Regulation (EU) No 2015/1017 Article 5 – paragraph 2 a (new) (2 a) the following paragraph is added: ‘2a. The Steering Board shall draft a report on the effects of the pricing of operations under the EU guarantee, which is to be in line with the EIB's general pricing practices, on the principle of additionality.’
Amendment 295 #
Proposal for a regulation Article 1 – paragraph 1 – point 2 b (new) Regulation (EU) No 2015/1017 Article 5 – paragraph 2 b (new) Amendment 296 #
Proposal for a regulation Article 1 – paragraph 1 – point 3 Regulation (EU) No 2015/1017 Article 6 – paragraph 1 – introductory part Amendment 297 #
Proposal for a regulation Article 1 – paragraph 1 – point 3 Regulation (EU) No 2015/1017 Article 6 – paragraph 1 – introductory part The EFSI Agreement shall provide that the EFSI is to support
Amendment 298 #
Proposal for a regulation Article 1 – paragraph 1 – point 3 Regulation (EU) No 2015/1017 Article 6 – paragraph 1 – introductory part The EFSI Agreement shall provide that the EFSI is to support projects which reach real economy and address market failures or sub-optimal investment situations and which:;
Amendment 299 #
Proposal for a regulation Article 1 – paragraph 1 – point 3 a (new) Regulation (EU) No 2015/1017 Article 6 – paragraph 1 – point a (3 a)
Amendment 300 #
Proposal for a regulation Article 1 – paragraph 1 – point 3 a (new) Regulation (EU) No 2015/1017 Article 6 – Paragraph 1 – Point b (3 a) in Article 6(1), point (b) is replaced by the following: ‘(b) are consistent with Union policies, including the objective of smart, sustainable and inclusive growth, the objectives of circular economy, quality job creation, and economic, social and territorial cohesion;’
Amendment 301 #
Proposal for a regulation Article 1 – paragraph 1 – point 3 b (new) Regulation (EU) No 2015/1017 Article 6 – Paragraph 1 – Point b (3 b)
Amendment 302 #
Proposal for a regulation Article 1 – paragraph 1 – point 3 c (new) Regulation (EU) No 2015/1017 Article 6 – Paragraph 1 – Point d (
Amendment 303 #
Proposal for a regulation Article 1 – paragraph 1 – point 3 a (new) Regulation (EU) No 2015/1017 Article 6 – paragraph 2 a (new) (3 a) In Article 6, a new paragraph 2a is inserted: ‘2a. When a national court of audit or an independent council or any anti- corruption body of a Member State has expressed some concerns on a project, a type of investment or on a body having the responsibility of investing public money and these concerns are communicated to the EFSI. The Steering Board should take into account the opinions expressed and shall take a decision by consensus.’
Amendment 304 #
Proposal for a regulation Article 1 – paragraph 1 – point 4 – point -a (new) Regulation (EU) No 2015/1017 Article 7 – paragraph 3 – subparagraph 1 (-a) in paragraph 3, the first subparagraph is replaced by the following: ‘The Steering Board shall comprise f
Amendment 305 #
Proposal for a regulation Article 1 – paragraph 1 – point 4 – point -a (new) Regulation (EU) No 2015/1017 Article 7 – paragraph 3 – subparagraph 1 (- a) in paragraph 3, the first subparagraph is replaced by the following: 'The Steering Board shall comprise f
Amendment 306 #
Proposal for a regulation Article 1 – paragraph 1 – point 4 – point -a (new) Regulation (EU) No 2015/1017 Article 7 – paragraph 3 – subparagraph 1 (-a) in paragraph 3, the first subparagraph is replaced by the following: ‘The Steering Board shall comprise four members: three appointed by the Commission and one by the EIB. Before the official nomination, the European Parliament shall be kept informed of the candidates, respecting strict confidentiality requirements. The Steering Board shall elect a Chairperson from among its members for a fixed term of three years, renewable once. The Steering Board shall strive to take its decisions by consensus. In the event that a consensus cannot be reached, the Steering Board shall decide by a three-fourths majority of its component members.’;
Amendment 307 #
Proposal for a regulation Article 1 – paragraph 1 – point 4 – point -a (new) Regulation (EU) No 2015/1017 Article 7 – paragraph 3 – subparagraph 1 (-a) in paragraph 3, the first subparagraph is replaced by the following: ‘The Steering Board shall comprise four members: three appointed by the Commission and one by the EIB. The Steering Board shall elect a Chairperson from among its members for a fixed term of three years, renewable once. The composition of the Steering Board shall be gender-balanced. The Steering Board shall take its decisions by consensus.’;
Amendment 308 #
Proposal for a regulation Article 1 – paragraph 1 – point 4 – point -a (new) Regulation (EU) No 2015/1017 Article 7 – paragraph 3 – subparagraph 1 -a) In paragraph 3, the first subparagraph is replaced by the following: ‘The Steering Board shall comprise f
Amendment 309 #
Proposal for a regulation Article 1 – paragraph 1 – point 4 – point -a (new) Regulation (EU) No 2015/1017 Article 7 – paragraph 3 – subparagraph 1 (-a) in paragraph 3, the first subparagraph is replaced by the following: ‘The Steering Board shall comprise four members: three appointed by the Commission and one by the EIB. Before the official nomination, the European Parliament shall be kept informed of the candidates, respecting strict confidentiality requirements. The Steering Board shall elect a Chairperson from among its members for a fixed term of three years, renewable once. The Steering Board shall take its decisions by consensus.’
Amendment 310 #
Proposal for a regulation Article 1 – paragraph 1 – point 4 – point -a (new) Regulation (EU) No 2015/1017 Article 7 – paragraph 3 – subparagraph 1 (-a) in paragraph 1, the first subparagraph is replaced by the following: ‘The Steering Board shall comprise four members: three appointed by the Commission and one by the EIB. The Steering Board shall elect a Chairperson from among its members for a fixed term of three years, renewable once. The Steering Board shall take its decisions by consensus. The members with observer status may be consulted by the permanent members, but shall not be involved in decision-making.’;
Amendment 311 #
Proposal for a regulation Article 1 – paragraph 1 – point 4 – point -a (new) Regulation (EU) No 2015/1017 Article 7 – paragraph 3 – subparagraph 2 Amendment 312 #
Proposal for a regulation Article 1 – paragraph 1 – point 4 – point -a (new) Regulation (EU) No 2015/1017 Article 7 – paragraph 3 – subparagraph 3 (-a) in paragraph 3, the third subparagraph is replaced by the following: The Steering Board shall
Amendment 313 #
Proposal for a regulation Article 1 – paragraph 1 – point 4 – point - a (new) Regulation (EU) No 2015/1017 Article 7 – paragraph 5 – subparagraph 1 (-a) in paragraph 5, the first subparagraph is replaced by the following: ‘The EFSI Agreement shall pr
Amendment 314 #
Proposal for a regulation Article 1 – paragraph 1 – point 4 – point -a a (new) Regulation (EU) No 2015/1017 Article 7 – paragraph 5 – subparagraph 2 (-aa) in paragraph 5, the second subparagraph is replaced by the following: ‘The Managing Director shall be assisted by a deputy managing director. The Managing Director shall
Amendment 315 #
Proposal for a regulation Article 1 – paragraph 1 – point 4 – point -a a (new) Regulation (EU) No 2015/1017 Article 7 – paragraph 5 – subparagraph 2 (-aa) in paragraph 5, the second subparagraph is replaced by the following: ‘The Managing
Amendment 316 #
Proposal for a regulation Article 1 – paragraph 1 – point 4 – point -a a (new) Regulation (EU) No 2015/1017 (-aa) in paragraph 5, the second subparagraph is replaced by the following: ‘The Managing Director shall be assisted by a deputy managing director. The Managing Director
Amendment 317 #
Proposal for a regulation Article 1 – paragraph 1 – point 4 – point -a b (new)Regulation (EU) No 2015/1017 Article 7 – paragraph 5 a (new) (-ab) In article 7, a new paragraph 5a is inserted: ‘5a. The overall composition of the Steering Board, Managing Director and Deputy Managing Director shall strive for ensuring gender balance.’;
Amendment 318 #
Proposal for a regulation Article 1 – paragraph 1 – point 4 – point a – point -i a (new) Regulation 2015/1017 Article 7 – paragraph 8 – point c Amendment 319 #
Proposal for a regulation Article 1 – paragraph 1 – point 4 – point a – point - i (new) Regulation (EU) No 2015/1017 Article 7 – paragraph 8 – point d (-i) point (d) is replaced by the following: ‘(d) information and communication technologies infrastructures
Amendment 320 #
Proposal for a regulation Article 1 – paragraph 1 – point 4 – point a – point i a (new) Regulation (EU) No 2015/1017 Article 7 – paragraph 8 – point e a (new) (ia) the following point (ea) is inserted: ‘(e a) technologies related to security and defence industries;’
Amendment 321 #
Proposal for a regulation Article 1 – paragraph 1 – point 4 – point a – point i a (new) Regulation (EU) 2015/1017 Article 7 – paragraph 8 – point f (
Amendment 322 #
Proposal for a regulation Article 1 – paragraph 1 – point 4 – point a – point i b (new) Regulation (EU) No 2015/1017 Article 7 – paragraph 8 – point k (i b) point (k) is replaced by the following: ‘(k) social infrastructures, social services and the social and solidarity economy
Amendment 323 #
Proposal for a regulation Article 1 – paragraph 1 – point 4 – point a – point ii Regulation (EU) No 2015/1017 Article 7 – paragraph 8 – point l l) agriculture, fishery and aquaculture and other bioeconomy and bioindustry sectors;
Amendment 324 #
Proposal for a regulation Article 1 – paragraph 1 – point 4 – point a – point ii Regulation (EU) No 2015/1017 Article 7 – paragraph 8 – point l l) agriculture, fishery, forestry, zootechny and aquaculture;
Amendment 325 #
Proposal for a regulation Article 1 – paragraph 1 – point 4 – point a – point ii Regulation (EU) No 2015/1017 Article 7 – paragraph 8 – point l (l) agriculture, forestry, fishery
Amendment 326 #
Proposal for a regulation Article 1 – paragraph 1 – point 4 – point a – point ii Regulation (EU) No 2015/1017 Article 7 – paragraph 8 – point l l) agriculture, forestry, fishery and aquaculture;
Amendment 327 #
Proposal for a regulation Article 1 – paragraph 1 – point 4 – point a – point ii a (new) Regulation 2015/1017 Article 7 – paragraph 8 – point l a (new) la) blue growth
Amendment 328 #
Proposal for a regulation Article 1 – paragraph 1 – point 4 – point b Regulation (EU) No 2015/1017 Article 7 – paragraph 10 – second sentence Each member of the Investment Committee shall communicate without delay to the Steering Board, the Managing Director and the Deputy Managing Director all information needed to check on an ongoing basis the absence of any conflict of interest
Amendment 329 #
Proposal for a regulation Article 1 – paragraph 1 – point 4 – point c Regulation (EU) No 2015/1017 Article 7 – paragraph 11 – second sentence The Managing Director shall be responsible for informing the Steering Board of any such breach that comes to her/his knowledge and propose appropriate action.
Amendment 330 #
Proposal for a regulation Article 1 – paragraph 1 – point 4 – point dRegulation (EU) No 2015/1017 Article 7 – paragraph 12 – subparagraph 2 – second sentence ‘Decisions approving the use of the EU guarantee shall be publi
Amendment 331 #
Proposal for a regulation Article 1 – paragraph 1 – point 4 – point d Regulation (EU) No 2015/1017 Article 7 – paragraph 12 – subparagraph 2 – second sentence Decisions approving the use of the EU guarantee shall be public and accessible
Amendment 332 #
Proposal for a regulation Article 1 – paragraph 1 – point 4 – point d Regulation (EU) No 2015/1017 Article 7 – paragraph 12 – subparagraph 2 – second sentence Decisions approving the use of the EU guarantee shall be public and accessible, and include the rationale for the decision, with particular focus on compliance with the additionality criterion.
Amendment 333 #
Proposal for a regulation Article 1 – paragraph 1 – point 4 – point d Regulation (EU) No 2015/1017 Article 7 – paragraph 12 – subparagraph 2 – second sentence Decisions approving the use of the EU guarantee shall be public and accessible
Amendment 334 #
Proposal for a regulation Article 1 – paragraph 1 – point 4 – point d Regulation (EU) No 2015/1017 Article 7 – paragraph 12 – subparagraph 2 – second sentence Decisions approving the use of the EU guarantee shall be public and accessible, and include the rationale for the decision, with particular focus on compliance with the additionality criterion.
Amendment 335 #
Proposal for a regulation Article 1 – paragraph 1 – point 4 – point d Regulation (EU) No 2015/1017 Article 7 – paragraph 12 – subparagraph 2 – second sentence Decisions approving the use of the EU guarantee shall be public and accessible, and include the rationale for the decision, with particular focus on compliance with the additionality criterion.
Amendment 336 #
Proposal for a regulation Article 1 – paragraph 1 – point 4 – point d a (new) Regulation (EU) No 2015/1017 Article 7 – paragraph 12 – subparagraph 3 a (new) (da) in paragraph 12, subparagraph 3a is added: ‘The Investment Committee shall appear before the European Parliament at six- monthly intervals to report on, and where necessary explain, investment decisions taken, in accordance with Article 16(2) of this Regulation;’;
Amendment 337 #
Proposal for a regulation Article 1 – paragraph 1 – point 4 – point d a (new) Regulation (EU) No 2015/1017 Article 7 – paragraph 14 (d a) article 7 para 14 is replaced by the following: ‘14. The Commission shall be empowered to adopt delegated acts in accordance with Article 23(1) to (3) and (5) to supplement this Regulation by establishing a scoreboard of indicators to be used by the Investment Committee to ensure an independent and transparent assessment of the potential and actual use of the EU guarantee. The scoreboard shall consist of 3 pillars: - a "Strategic Targeting" pillar which shall include indicators assessing the degree to which a proposed operation qualifies as "additional" as defined in this regulation as well as the degree to which the proposed operation contributes to the general objectives set out in Article 9 - a "Citizens' Impact" pillar which shall include indicators such as long term job creation and gross value added, weighted by the unemployment and output gaps applicable in the geographical areas concerned and distinguishing between direct and indirect effects - a "Technical Execution" pillar which shall include indicators relating to the efficiency of the investment process such as the ratio of public to private commitments, the quality and capabilities of promoters, intermediaries and platforms. The scores under each pillar shall be combined as a weighted sum where the "targeting" and "overall impact" pillar scores are equally weighted and the "technical" pillar score receives a weight of no more than half of that applied to the other pillars. Such delegated acts shall be prepared in close dialogue with the EIB.
Amendment 338 #
Proposal for a regulation Article 1 – paragraph 1 – point 4 a (new) Regulation (EU) No 2015/1017 Article 8 – subparagraph 1 – point b (a a) in article 8, subparagraph 1, point (b) is replaced by the following: ‘(b) involve entities located or established in one or more Member States
Amendment 339 #
Proposal for a regulation Article 1 – paragraph 1 – point 5 – point - a (new) Regulation (EU) No 2015/1017 Article 9 – paragraph 2 (-a) paragraph 2 is replaced by the following: ‘The EU guarantee shall be granted for EIB financing and investment operations approved by the Investment Committee referred to in Article 7(7) or for funding or guarantees to the EIF in order to conduct EIB financing and investment operations in accordance with Article 11(3). The operations concerned shall be
Amendment 340 #
Proposal for a regulation Article 1 – paragraph 1 – point 5 a (new) Regulation (EU) No 2015/1017 Article 9 – paragraph 2 – introductory part 5 a) Article 9, point (2), introductory words The EU guarantee shall be granted for EIB financing and investment operations approved by the Investment Committee referred to in Article 7(7) or for funding or guarantees to the EIF in order to conduct EIB financing and investment operations in accordance with Article 11(3). In accordance with the guidance of the Steering Board, an appropriate part of the EU guarantee shall be granted directly to investment platforms and national promotional banks or institutions, subject to an additionality requirement for their operations too. The operations concerned shall be consistent with Union policies and support any of the following general objectives:’
Amendment 341 #
Proposal for a regulation Article 1 – paragraph 1 – point 5 – point -a (new) Regulation (EU) No 2015/1017 Article 9 – paragraph 2 – introductory part (-a) In article 9, paragraph 2, introductory part is replaced by the following : The EU guarantee shall be granted for EIB financing and investment operations approved by the Investment Committee referred to in
Amendment 342 #
Proposal for a regulation Article 1 – paragraph 1 – point 5 – point -a (new) Regulation (EU) No 2015/1017 Article 9 – paragraph 2 – introductory part Amendment 343 #
Proposal for a regulation Article 1 – paragraph 1 – point 5 – point -a (new) Regulation (EU) No 2015/1017 Article 9 – paragraph 2 – point b – point ii (-a) in Article 9, paragraph 2, point (b), point (ii) is amended as follows: ‘(ii) energy efficiency and energy savings (with a focus on reducing demand through demand-side management and the refurbishment of buildings including prisons);’
Amendment 344 #
Proposal for a regulation Article 1 – paragraph 1 – point 5 – point -a (new) Regulation 2015/1017 Article 9 – paragraph 2 – point b – point iii (-a) in paragraph 2(b), point (iii) is replaced by the following: ‘iii) development and modernisation of energy infrastructure (in particular interconnections, smart grids at distribution level, energy storage
Amendment 345 #
Proposal for a regulation Article 1 – paragraph 1 – point 5 – point -a (new) Regulation (EU) No 2015/1017 Article 9 – paragraph 2 – point c – introductory part (-a) in Article 9, in paragraph 2 point (c) is replaced by the following: ‘(c) development of transport infrastructures, and equipment and innovative technologies for transport, avoiding any finance to intensive fossil fuel infrastructures such as motorway and airports, in particular through:’
Amendment 346 #
Proposal for a regulation Article 1 – paragraph 1 – point 5 – point -a (new) Regulation (EU) 2015/1017 Article 9 – paragraph 2 – point g – point i Amendment 347 #
Proposal for a regulation Article 1 – paragraph 1 – point 5 – point -a (new)Regulation (EU) 2015/1017 Article 9 – paragraph 2 – point g – point v (-a) in Article 9, in paragraph 2 point (g), point (v) is replaced by the following: ‘(iv) social infrastructures, social services and solidarity economy;’
Amendment 348 #
Proposal for a regulation Article 1 – paragraph 1 – point 5 – point a Regulation (EU) No 2015/1017 Article 9 – paragraph 2 – points (h) and (i) Amendment 349 #
Proposal for a regulation Article 1 – paragraph 1 – point 5 – point a – introductory part) Regulation 2015/1017 Article 9 – paragraph 2 – points (h) and (i) (a) in paragraph 2 the following points (h), (i) and (ia) are added:
Amendment 350 #
Proposal for a regulation Article 1 – paragraph 1 – point 5 – point a Regulation (EU) No 2015/1017 Article 9 – paragraph 2 – point h Amendment 351 #
Proposal for a regulation Article 1 – paragraph 1 – point 5 – point a Regulation (EU) No 2015/1017 Article 9 – paragraph 2 – point h h) agriculture, fishery
Amendment 352 #
Proposal for a regulation Article 1 – paragraph 1 – point 5 – point a Regulation (EU) No 2015/1017 Article 9 – paragraph 2 – point h h) agriculture, fishery, forestry, zootechny and aquaculture;
Amendment 353 #
Proposal for a regulation Article 1 – paragraph 1 – point 5 – point a Regulation (EU) No 2015/1017 Article 9 – paragraph 2 – point h (h) sustainable agriculture, fishery and aquaculture;
Amendment 354 #
Proposal for a regulation Article 1 – paragraph 1 – point 5 – point a Regulation (EU) No 2015/1017 Article 9 – paragraph 2 – point h h) agriculture, forestry, fishery and aquaculture;
Amendment 355 #
Proposal for a regulation Article 1 – paragraph 1 – point 5 – point a a (new) Regulation (EU) No 2015/1017 Article 9 – paragraph 2 – point h a (new) (a a) in paragraph 2 the following point (ha) is added: ‘(h a) technologies related to security and defence industries;’
Amendment 356 #
Proposal for a regulation Article 1 – paragraph 1 – point 5 – point a a (new) Regulation (EU) No 2015/1017 Article 9 – paragraph 2 – point h a (new) (a a) in paragraph 2 the following point (ha) is added: ‘ha) blue growth;’
Amendment 357 #
Proposal for a regulation Article 1 – paragraph 1 – point 5 – point a a (new) Regulation (EU) No 2015/1017 Article 9 – paragraph 2 – points h a (new) and h b (new) (a a) in paragraph 2 the following points (ha) and (hb) are added: ‘(ha) defence : a) development of joint capacities;’ b) research; (hb) cybersecurity.’
Amendment 358 #
Proposal for a regulation Article 1 – paragraph 1 – point 5 – point a Regulation (EU) No 2015/1017 Article 9 – paragraph 2 – point i Amendment 359 #
Proposal for a regulation Article 1 – paragraph 1 – point 5 – point a Regulation (EU) No 2015/1017 Article 9 – paragraph 2 – point i Amendment 360 #
Proposal for a regulation Article 1 – paragraph 1 – point 5 – point a a (new) Regulation (EU) No 2015/1017 Article 9 – paragraph 2 – point i a (new) (aa) in paragraph 2, a new point (ia) is inserted: ‘ia) defence and security projects, in accordance with conditions to be approved by the competent managing bodies of the EIB and within the limits set by the Treaty.’
Amendment 361 #
Proposal for a regulation Article 1 – paragraph 1 – point 5 – point b Regulation (EU) No 2015/1017 Article 9 – paragraph 2 – subparagraph 1 a Amendment 362 #
Proposal for a regulation Article 1 – paragraph 1 – point 5 – point b Regulation (EU) No 2015/1017 Article 9 – paragraph 2 – subparagraph 1 a Amendment 363 #
Proposal for a regulation Article 1 – paragraph 1 – point 5 – point b Regulation (EU) No 2015/1017 Article 9 – paragraph 2 – subparagraph 1 a The EIB shall target that at least
Amendment 364 #
Proposal for a regulation Article 1 – paragraph 1 – point 5 – point b Regulation (EU) No 2015/1017 Article 9 – paragraph 2 – subparagraph 1 a The EIB shall target that at least
Amendment 365 #
Proposal for a regulation Article 1 – paragraph 1 – point 5 – point b Regulation (EU) No 2015/1017 Article 9 – paragraph 2 – subparagraph 1 a The EIB shall target that at least
Amendment 366 #
Proposal for a regulation Article 1 – paragraph 1 – point 5 – point b Regulation (EU) No 2015/1017 Article 9 – paragraph 2 – subparagraph 1 a The EIB shall target that at least
Amendment 367 #
Proposal for a regulation Article 1 – paragraph 1 – point 5 – point b Regulation (EU) No 2015/1017 Article 9 – paragraph 2 – subparagraph 1 a Amendment 368 #
Proposal for a regulation Article 1 – paragraph 1 – point 5 – point b Regulation (EU) No 2015/1017 Article 9 – paragraph 2 – subparagraph 1 a Amendment 369 #
Proposal for a regulation Article 1 – paragraph 1 – point 5 – point b Regulation (EU) No 2015/1017 Article 9 – paragraph 2 – subparagraph 1 a The EIB shall target that at least 40 % of EFSI financing under the infrastructure and innovation window supports projects with components that contribute to climate action and job creation, in line with the COP21 and the Europe 2020 Strategy commitments. The Steering Board shall provide detailed guidance to that end.
Amendment 370 #
Proposal for a regulation Article 1 – paragraph 1 – point 5 – point b Regulation (EU) No 2015/1017 Article 9 – paragraph 2 – subparagraph 1 a The EIB shall target that
Amendment 371 #
Proposal for a regulation Article 1 – paragraph 1 – point 5 – point b Regulation (EU) No 2015/1017 Article 9 – paragraph 2 – subparagraph 1 a The EIB shall target that at least 40 % of EFSI financing under the infrastructure and innovation window supports projects with components that contribute to climate action, in line with the COP21 commitments. The Steering Board shall provide detailed guidance to th
Amendment 372 #
Proposal for a regulation Article 1 – paragraph 1 – point 5 – point b Regulation (EU) No 2015/1017 Article 9 – paragraph 2 – subparagraph 1 a The EIB shall target that at least 40 % of EFSI financing under the infrastructure and innovation window supports projects
Amendment 373 #
Proposal for a regulation Article 1 – paragraph 1 – point 5 – point b a (new) Regulation (EU) No 2015/1017 Article 9 – paragraph 2 – subparagraph 1 b (new) (b a) in paragraph 2, the following subparagraph is added: ‘The EIB shall use the EU guarantee for supporting investment platforms or funds and national promotional banks or institutions that invest in operations meeting the requirements of this Regulation (eligible vehicles), after approval by the Investment Committee. In order to strengthen its objective, the Investment Committee shall encourage cooperation with cross-border investment platforms.’
Amendment 374 #
Proposal for a regulation Article 1 – paragraph 1 – point 5 – point b a (new) Regulation (EU) No 2015/1017 Article 9 – paragraph 2 – subparagraph 1 b (new) Amendment 375 #
Proposal for a regulation Article 1 – paragraph 1 – point 5 – point b a (new) Regulation (EU) No 2015/1017 Article 9 – paragraph 2 – subparagraph 1 b (new) (b a) in paragraph 2, the following subparagraph is added: ‘The EIB shall target that EFSI financing under the infrastructure and innovation window supports projects in the cultural and creative sector. The Steering Board shall provide detailed guidance to that end.’;
Amendment 376 #
Proposal for a regulation Article 1 – paragraph 1 – point 5 – point b c (new) Regulation (EU) No 2015/1017 Article 9 – paragraph 2 – subparagraph 1 d (new) (b c) in paragraph 2, the following subparagraph is added: ‘The EIB shall target that at least 1 % of EFSI financing supports projects in the cultural and creative sector. The Steering Board shall provide detailed guidance to that end.’
Amendment 377 #
Proposal for a regulation Article 1 – paragraph 1 – point 5 – point c Regulation (EU) No 2015/1017 Article 9 – paragraph 3 Amendment 378 #
Proposal for a regulation Article 1 – paragraph 1 – point 5 – point c Regulation (EU) No 2015/1017 Article 9 – paragraph 3 Amendment 379 #
Proposal for a regulation Article 1 – paragraph 1 – point 5 – point c Regulation (EU) No 2015/1017 Article 9 – paragraph 3 3. The investment period during which the EU guarantee may be granted for supporting financing and investment operations covered by this Regulation shall last until: (a) 31 December 2020, for EIB operations for which a contract between the EIB and the beneficiary or financial intermediary has been signed by 31 December 2022; (b) 31 December 2020, for EIF operations for which a contract between the EIF and the financial intermediary has been signed by 31 December 2022. A new investment period may be set in accordance with the procedure provided for in Article 18.
Amendment 380 #
Proposal for a regulation Article 1 – paragraph 1 – point 5 – point d Regulation (EU) No 2015/1017 Article 9 – paragraph 4 Amendment 381 #
Proposal for a regulation Article 1 – paragraph 1 – point 5 – point d Regulation (EU) No 2015/1017 Article 9 – paragraph 4 Amendment 382 #
Proposal for a regulation Article 1 – paragraph 1 – point 5 – point d a (new) Regulation (EU) No 2015/1017 Article 9 – paragraph 4 (d) paragraph 4 is replaced by the following: ‘4. Any new
Amendment 383 #
Proposal for a regulation Article 1 – paragraph 1 – point 5 – point d a (new) Regulation (EU) No 2015/1017 Article 9 – paragraph 4 a (new) Amendment 384 #
Proposal for a regulation Article 1 – paragraph 1 – point 5 – point d a (new) Regulation (EU) No 2015/1017 Article 9 – paragraph 4 a (new) (d a) in Article 9, a new paragraph 4a is inserted: '4a. If a public authority within a Member State establishes an investment platform or a national promotional bank or institution that shares the objectives of the EFSI, the EIB shall cooperate with that body and incorporate the due diligence process taken by the NPBs in its evaluation process of new operations to avoid duplications.'
Amendment 385 #
Proposal for a regulation Article 1 – paragraph 1 – point 5 – point d a (new) Regulation (EU) No 2015/1017 Article 9 – paragraph 4 a (new) (d a) in Article 9, a new paragraph 4a is inserted: ‘4a. If a public authority within a Member State establishes an investment platform or a national promotional bank or institution that shares the objectives of the EFSI, the EIB shall aim to cooperate with that body.’
Amendment 386 #
Proposal for a regulation Article 1 – paragraph 1 – point 5 – point d a (new) Regulation (EU) No 2015/1017 Article 9 – paragraph 6 – subparagraph 2 a (new) (c a) in Article 9(6), the following subparagraph 2a is added: ‘When EFSI is combined with other funds such as Horizon 2020, CEF or the European Structural and Investment Funds, the additionality criteria must apply, the highest risk tranche shall be covered by EFSI and the project eligibility criteria of the European Structural and Investment Funds shall apply to the entire project;’
Amendment 387 #
Proposal for a regulation Article 1 – paragraph 1 – point 5 – point d a (new) Regulation (EU) No 2015/1017 Article 9 – paragraph 7 – subparagraph 2 Amendment 388 #
Proposal for a regulation Article 1 – paragraph 1 – point 5 – point d a (new) Regulation (EU) No 2015/1017 Article 9 – paragraph 7 a (new) (d a) in Article 9, a new paragraph is added: ‘(7a) In case where EIB funding under EFSI guarantee is co-financing ESI Funded projects, such funding can be counted as the national co-financing of Member States for ESI Funded projects.’;
Amendment 389 #
Proposal for a regulation Article 1 – paragraph 1 – point 6 Regulation (EU) No 2015/1017 Article 10 – paragraph 2 – point a Amendment 390 #
Proposal for a regulation Article 1 – paragraph 1 – point 6 Regulation (EU) No 2015/1017 Article 10 – paragraph 2 – point a a) EIB loans, guarantees, counter- guarantees
Amendment 391 #
Proposal for a regulation Article 1 – paragraph 1 – point 6 Regulation (EU) No 2015/1017 Article 10 – paragraph 2 – point a (a) EIB loans, guarantees, counter- guarantees,
Amendment 392 #
Proposal for a regulation Article 1 – paragraph 1 – point 6 Regulation (EU) No 2015/1017 Article 10 – paragraph 2 – point a (a) EIB loans, guarantees, counter- guarantees, capital market instruments, any other form of funding or credit enhancement instrument,
Amendment 393 #
Amendment 394 #
Proposal for a regulation Article 1 – paragraph 1 – point 7 – point a Regulation (EU) No 2015/1017 Article 11 – paragraph 1 Amendment 395 #
Proposal for a regulation Article 1 – paragraph 1 – point 7 – point a a (new) Regulation (EU) No 2015/1017 Article 11 – paragraph 2 Amendment 396 #
Proposal for a regulation Article 1 – paragraph 1 – point 7 – point b Regulation (EU) No 2015/1017 Article 11 – paragraph 3 3.
Amendment 397 #
Proposal for a regulation Article 1 – paragraph 1 – point 7 – point b Regulation (EU) 2015/1017 Article 11 – paragraph 3 3. Where the EIB provides funding or guarantees to the EIF in order to conduct EIB financing and investment operations, the EU guarantee shall provide for a full guarantee on such funding or guarantees provided that an amount of at least EUR 4 000 000 000 of funding or guarantees is provided by the EIB without coverage by the EU guarantee
Amendment 398 #
Proposal for a regulation Article 1 – paragraph 1 – point 7 – point b Regulation (EU) No 2015/1017 Article 11 – paragraph 3 3. Where the EIB provides funding or guarantees to the EIF in order to conduct EIB financing and investment operations, the EU guarantee shall provide for a full guarantee on such funding or guarantees provided that an amount of at least EUR 4 000 000 000 of funding or guarantees is provided by the EIB without coverage by
Amendment 399 #
Proposal for a regulation Article 1 – paragraph 1 – point 7 – point b Regulation (EU) No 2015/1017 Article 11 – paragraph 3 3. Where the EIB provides funding or guarantees to the EIF in order to conduct EIB financing and investment operations, the EU guarantee shall provide for a full guarantee on such funding or guarantees provided that an amount of at least EUR 4 000 000 000 of funding or guarantees is provided by the EIB without coverage by the EU guarantee, up to an initial limit of EUR 6 500 000 000. Without prejudice to paragraph 1, that limit may where appropriate be adjusted by the Steering Board up to 10 000 000 000.
Amendment 400 #
Proposal for a regulation Article 1 – paragraph 1 – point 7 – point c Regulation (EU) No 2015/1017 Article 11 – paragraph 6 – point a (a) for debt instruments referred to in
Amendment 401 #
Proposal for a regulation Article 1 – paragraph 1 – point 8 Regulation (EU) No 2015/1017 Article 12 Amendment 402 #
Proposal for a regulation Article 1 – paragraph 1 – point 8 Regulation (EU) No 2015/1017 Article 12 Amendment 403 #
Proposal for a regulation Article 1 – paragraph 1 – point 8 a (new) Regulation (EU) No 2015/1017 Article 13 – paragraph 3 a (new) Amendment 404 #
Proposal for a regulation Article 1 – paragraph 1 – point 9 – point a – point i Regulation (EU) No 2015/1017 Article 14 – paragraph 1 – subparagraph 1 – second sentence Such support shall include providing targeted support on the use of technical assistance for project structuring, on the use of innovative financial instruments and on the use of public-private partnerships, and advice, as appropriate, on relevant issues relating to Union law, taking into account the specificities and needs of Member States with less-
Amendment 405 #
Proposal for a regulation Article 1 – paragraph 1 – point 9 – point a – point i Regulation (EU) No 2015/1017 Article 14 – paragraph 1 – subparagraph 1 – second sentence Such support shall include providing
Amendment 406 #
Proposal for a regulation Article 1 – paragraph 1 – point 9 – point a – point i Regulation (EU) No 2015/1017 Article 14 – paragraph 1 – subparagraph 1 – second sentence Such support shall include providing targeted support on the use of technical assistance for project structuring,
Amendment 407 #
Proposal for a regulation Article 1 – paragraph 1 – point 9 – point a – point i Regulation (EU) No 2015/1017 Article 14 – paragraph 1 – subparagraph 1 – second sentence Such support shall include providing
Amendment 408 #
Proposal for a regulation Article 1 – paragraph 1 – point 9 – point a – point i Regulation (UE) 2015/1017 Article 14 – paragraph 1 – subparagraph 1 – second sentence Such support shall include providing targeted support on the use of technical assistance for project structuring
Amendment 409 #
Proposal for a regulation Article 1 – paragraph 1 – point 9 – point a – point i a (new) Regulation (EU) No 2015/1017 Article 14 – paragraph 1 – subparagraph 2 (i a) In Article 14, the second subparagraph is replaced by the following ‘The EIAH shall be able to provide
Amendment 410 #
Proposal for a regulation Article 1 – paragraph 1 – point 9 – point a – point ii Regulation (UE) 2015/1017 Article 14 – paragraph 1 – subparagraph 2 – sentence 1 a (new) Amendment 411 #
Proposal for a regulation Article 1 – paragraph 1 – point 9 – point a – point ii Regulation (UE) 2015/1017 Article 14 – paragraph 1 – subparagraph 2 – sentence 1 a (new) It shall also support the preparation of climate action and circular economy projects or components thereof, in particular in the context of COP21,
Amendment 412 #
Proposal for a regulation Article 1 – paragraph 1 – point 9 – point a – point ii Regulation (EU) No 2015/1017 Article 14 – paragraph 1 – subparagraph 2 – sentence 1 a (new) It shall also support the preparation of climate action and circular economy projects or components thereof, in particular in the context of COP21, the preparation of projects in the digital sector, in the development of projects tackling poverty and social exclusion, as well as the preparation of projects referred to in the fifth subparagraph of Article 5(1).’
Amendment 413 #
Proposal for a regulation Article 1 – paragraph 1 – point 9 – point a – point ii a (new) Regulation (EU) No 2015/1017 Article 14 – paragraph 1 – subparagraph 2 a (new) Amendment 414 #
Proposal for a regulation Article 1 – paragraph 1 – point 9 – point b – point i Regulation (EU) No 2015/1017 Article 14 – paragraph 2 – point c (c) leveraging local knowledge to facilitate EFSI support across the Union and contributing where possible to the objective of sectorial and geographical diversification of the EFSI referred to in Section 8 of Annex II by supporting the EIB to originate operations
Amendment 415 #
Proposal for a regulation Article 1 – paragraph 1 – point 9 – point b – point i Regulation (EU) No 2015/1017 Article 14 – paragraph 2 – point c c) leveraging local knowledge to
Amendment 416 #
Proposal for a regulation Article 1 – paragraph 1 – point 9 – point b – point i Regulation (EU) No 2015/1017 Article 14 – paragraph 2 – point c (c) leveraging local, regional and national knowledge to facilitate EFSI support across the Union and contributing where possible to the objective of sectorial and geographical diversification of the EFSI referred to in Section 8 of Annex II by supporting the EIB to originate operations;
Amendment 417 #
Proposal for a regulation Article 1 – paragraph 1 – point 9 – point b – point i Regulation (EU) No 2015/1017 Article 14 – paragraph 2 – point c (c) leveraging local knowledge to facilitate EFSI support across the Union and contributing where possible to the
Amendment 418 #
Proposal for a regulation Article 1 – paragraph 1 – point 9 – point b – point i Regulation (EU) No 2015/1017 Article 14 – paragraph 2 – point c (c) leveraging local knowledge to facilitate EFSI support across the Union and contributing
Amendment 419 #
Proposal for a regulation Article 1 – paragraph 1 – point 9 – point b – point ii Regulation (EU) No 2015/1017 Article 14 – paragraph 2 – point e e) providing pro-active support on the establishment of investment platforms with a local presence, taking account of existing support programmes and bodies, in particular national promotional banks or institutions;
Amendment 420 #
Proposal for a regulation Article 1 – paragraph 1 – point 9 – point b – point ii Regulation (EU) No 2015/1017 Article 14 – paragraph 2 – point e e) providing pro-active support on the establishment of investment platforms, in particular cross-border and macroregional investment platforms in which several Member States and regions are involved;
Amendment 421 #
Proposal for a regulation Article 1 – paragraph 1 – point 9 – point b – point ii Regulation (EU) No 2015/1017 Article 14 – paragraph 2 – point e (e) providing pro-active support on the establishment of investment platforms, contributing to the transfer of knowledge to the regional and local level and ensuring a built-up of regional and local expertise;
Amendment 422 #
Proposal for a regulation Article 1 – paragraph 1 – point 9 – point b – point ii Regulation (EU) No 2015/1017 Article 14 – paragraph 2 – point e (e) providing pro-active support on the establishment of investment platforms, including sectoral investment platforms and notably in the area of energy efficiency;
Amendment 423 #
Proposal for a regulation Article 1 – paragraph 1 – point 9 – point b – point ii Regulation (EU) No 2015/1017 Article 14 – paragraph 2 – point e (e) providing pro-active support on the establishment of investment platforms with a local presence and taking into account existing support schemes;
Amendment 424 #
Proposal for a regulation Article 1 – paragraph 1 – point 9 – point b – point ii Regulation (EU) No 2015/1017 Article 14 – paragraph 2 – point e (e) providing pro-active support on the establishment of investment platforms, with a view also to supporting smaller scale projects;
Amendment 425 #
Proposal for a regulation Article 1 – paragraph 1 – point 9 – point b – point ii Regulation (EU) No 2015/1017 Article 14 – paragraph 2 – point e (e) providing pro-active support on the establishment of investment platforms
Amendment 426 #
Proposal for a regulation Article 1 – paragraph 1 – point 9 – point b – point ii Regulation (EU) No 2015/1017 Article 14 – paragraph 2 – point e (e) providing pro-active advisory support on the establishment of investment platforms;
Amendment 427 #
Proposal for a regulation Article 1 – paragraph 1 – point 9 – point b – point iii Regulation (EU) No 2015/1017 Article 14 – paragraph 2 – point f (f) providing advice on the combination of other sources of Union funding
Amendment 428 #
Proposal for a regulation Article 1 – paragraph 1 – point 9 – point b – point iii Regulation (EU) No 2015/1017 Article 14 – paragraph 2 – point f (f) providing advice on the combination of other sources of Union funding (such as the European Structural and Investment Funds, Horizon 2020 and the Connecting Europe Facility) with the EFSI.; and solution of practical problems in implementation of combining financing sources which occur because of different administrative requirements and financing sources in different instruments
Amendment 429 #
(f) providing advice on the combination of other sources of Union funding (such as the European Structural and Investment Funds, Youth Guarantee and Youth Employment Initiative, Horizon 2020 and the Connecting Europe Facility) with the EFSI in order to avoid administrative burden.;
Amendment 430 #
Proposal for a regulation Article 1 – paragraph 1 – point 9 – point b – introductory part Regulation (EU) No 2015/1017 Article 14 – paragraph 2 – point f a (new) (iii a) The following point (fa) is added: (fa) EIAH services provided to projects covered by targeted funding under Art. 9.2. shall also be free of charge.
Amendment 431 #
Proposal for a regulation Article 1 – paragraph 1 – point 9 – point b – point iii a (new) Regulation (EU) No 2015/1017 Article 14 – paragraph 2 – point f a (new) iiia) The following point (fa) is added: "fa) mobilisation of communication and promotion actions devised to make potential beneficiaries more aware of the EFSI"
Amendment 432 #
Proposal for a regulation Article 1 – paragraph 1 – point 9 – point b – point iii a (new) Regulation (EU) 2015/1017 Article 14 – paragraph 2 – point f a (new) (iii a) The following point (fa) is added: ‘(fa) providing pro-active support to promote and encourage cross-border operations, covered by Article 8 of this Regulation.
Amendment 433 #
Proposal for a regulation Article 1 – paragraph 1 – point 9 – point c Regulation (EU) 2015/1017 Article 14 – paragraph 5 5. In order to achieve the objective referred to in paragraph 1, to overcome any barrier to investment identified during the operations, and to facilitate the provision of advisory support at local
Amendment 434 #
Proposal for a regulation Article 1 – paragraph 1 – point 9 – point c a (new) Regulation (EU) No 2015/1017 Article 14 – paragraph 5 a (new) (c a) A new paragraph is inserted after paragraph 5: ‘(5a) The EIAH shall make use of the list referred to in Article 16(2a), in order to assist, in a proactive manner and as appropriate, possible project promoters in further developing their proposals for funding under EFSI.’
Amendment 435 #
Proposal for a regulation Article 1 – paragraph 1 – point 9 – point d Regulation (EU) No 2015/1017 Article 14 – paragraph 6 – second sentence Cooperation between, on the one hand, the EIAH and, on the other hand, a national promotional bank or institution, an international financing institution or an institution or a managing authority,
Amendment 436 #
Proposal for a regulation Article 1 – paragraph 1 – point 9 – point d Regulation (EU) No 2015/1017 Article 14 – paragraph 6 – second sentence Cooperation between, on the one hand, the EIAH and, on the other hand, a national promotional bank or institution, an international financi
Amendment 437 #
Proposal for a regulation Article 1 – paragraph 1 – point 9 – point d Regulation (EU) No 2015/1017 Article 14 – paragraph 6 – second sentence Cooperation between, on the one hand, the EIAH and, on the other hand, a national promotional bank or institution, an international financing institution or an institution or a managing authority, including those acting as a national advisor, having expertise relevant for the purposes of the EIAH, may take the form of a contractual partnership. The EIAH shall make at least one cooperation agreement with a national promotional bank or any other institution per Member State. In Member States where such an institution does not exist, the EIAH shall provide pro-active advisory support on its establishment, when requested by the Member State in question.;
Amendment 438 #
Proposal for a regulation Article 1 – paragraph 1 – point 9 – point d a (new) (ii a) the following paragraph is inserted after paragraph 6: ‘6a. In order to actively ensure a wide geographic outreach of the advisory services across the Union and to successfully leverage local knowledge about the EFSI, the local presence of the EIAH shall be established, where needed and taking into account existing support schemes, with a view to providing tangible, pro-active, tailor-made assistance on the ground.'.
Amendment 439 #
Proposal for a regulation Article 1 – paragraph 1 – point 9 – point d a (new) Regulation (EU) No 2015/1017 Article 14 – paragraph 6 a (new) (d a) the following paragraph is inserted after paragraph 6: ‘6a. Without prejudice to paragraph 6, in order to facilitate a wider geographic outreach of advisory services and to support the local development of advisory services, a local presence of the EIAH shall be established in countries where there are difficulties to develop projects in particular under EFSI, as well as, in topics such as the blending of EFSI with existing funds, at Member States` request and where necessary, and, the development of investment platforms including cooperation with third countries.’
Amendment 440 #
Proposal for a regulation Article 1 – paragraph 1 – point 9 – point d a (new) Regulation (EU) No 2015/1017 Article 14 – paragraph 6 a (new) (d a) the following paragraph is inserted after paragraph 6: "6a. In order to successfully leverage local knowledge about the EFSI, the EFSI and EIAH shall promote a transfer of knowledge to the regional and local level and shall ensure the continuous built-up of regional and local expertise."
Amendment 441 #
Proposal for a regulation Article 1 – paragraph 1 – point 9 a (new) Regulation (EU) No 2015/1017 Article 14 a (new) (9 a) A new Article is inserted after paragraph 14: ‘Article 14 a Representation of national promotional banks at the EIAH All national promotional banks shall be represented at the EIAH.’
Amendment 442 #
Proposal for a regulation Article 1 – paragraph 1 – point 9 a (new) Regulation (EU) No 2015/1017 Article 16 – paragraph 2 (9a) Article 16(2) is amended as follows: 2. The EIB, in cooperation with the EIF where appropriate, shall submit a
Amendment 443 #
Proposal for a regulation Article 1 – paragraph 1 – point 9 a (new) Regulation (EU) No 2015/1017 Article 16 – paragraph 2 Amendment 444 #
Proposal for a regulation Article 1 – paragraph 1 – point 9 a (new) Regulation (EU) No 2015/1017 Article 16 – paragraph 2 – point c (9 a) Article 16 (2) c) is replaced by the following: ‘(c) an assessment of the extent to which operations covered by this Regulation contribute to the achievement of the general objectives set out in Article 9(2) including an assessment of the level of EFSI investments in the areas of research, development and innovation and transport (including TEN -T and urban mobility), telecommunications, energy infrastructure
Amendment 445 #
Proposal for a regulation Article 1 – paragraph 1 – point 9 a (new) Regulation (EU) No 2015/1017 Article 16 – paragraph 2 – point f (9 b) article 16 (2) f) is replaced by the following: ‘(f) a description of the projects where the support of the European Structural and Investment Funds is combined with the support of the EFSI,
Amendment 446 #
Proposal for a regulation Article 1 – paragraph 1 – point 9 a (new) Regulation (EU) No 2015/1017 Article 16 – paragraph 2 – point j a (new) (9 a) in Article 16(2) the following point is added: ‘(ja) detailed information on the tax payments resulting from its investment and lending operations under the EFSI;’
Amendment 447 #
Proposal for a regulation Article 1 – paragraph 1 – point 9 a (new) Regulation (EU) No 2015/1017 Article 16 – paragraph 2 a (new) (9 a) In Article 16, a new paragraph is inserted after paragraph 2: ‘2a The EIB shall submit every six months to the European Parliament, the Council, the Commission and the EIAH, a list of all investment proposals submitted for the use of the EU guarantee, including those that are not pre-selected for submission to the Investment Committee, subject to strict confidentiality requirements.’
Amendment 448 #
Proposal for a regulation Article 1 – paragraph 1 – point 9 b (new) Regulation (EU) No 2015/1017 Article 16 – paragraph 16 a (new) (9 b) In Article 16, a new paragraph is added: ‘16a. The Commission shall submit an annual report listing the details of all projects per policy area that received EU support through EFSI, the total amount of the contribution of each source, as well as the risk profiles.’
Amendment 449 #
Proposal for a regulation Article 1 – paragraph 1 – point 10 – point -a (new) Regulation (EU) No 2015/1017 Article 18 – paragraph 3 – point a (-a) In paragraph 3, point (a) is replaced by the following: ‘(a) the EIB shall publish a comprehensive report on the functioning of the EFSI, which shall include an evaluation of the impact of the EFSI on investment in the Union, employment creation and access to financing for SMEs and mid-cap companies
Amendment 450 #
Proposal for a regulation Article 1 – paragraph 1 – point 10 Regulation (EU) No 2015/1017 Article 18 – paragraph 6 to 8 Amendment 451 #
Proposal for a regulation Article 1 – paragraph 1 – point 10 – point a Regulation (EU) No 2015/1017 Article 18 – paragraph 6 6. By 30 June 2018 and 30 June 2020, the Commission shall submit to the European Parliament and the Council a report containing an independent evaluation of the application of this Regulation
Amendment 452 #
Proposal for a regulation Article 1 – paragraph 1 – point 10 – point a Regulation (EU) No 2015/1017 Article 18 – paragraph 6 6. By 30 June 2018
Amendment 453 #
Proposal for a regulation Article 1 – paragraph 1 – point 10 – point a a (new) Regulation (EU) No 2015/1017 Article 18 – paragraph 6 a (new) (a a) the following paragraph is inserted after paragraph 6: '6a. In order to actively ensure a wide geographic outreach of the advisory services across the Union and to successfully leverage local knowledge about the EFSI, the local presence of the EIAH shall be established in Member States, where there are difficulties to develop projects in particular under the EFSI, taking into account existing support schemes or the presence of national or regional promotional banks or institutions.'
Amendment 454 #
Proposal for a regulation Article 1 – paragraph 1 – point 10 – point b Regulation (EU) No 2015/1017 Article 18 – paragraph 7 (b) paragraph
Amendment 455 #
Proposal for a regulation Article 1 – paragraph 1 – point 10 – point b Regulation (EU) No 2015/1017 Article 18 – paragraph 8 (b) paragraph
Amendment 456 #
Proposal for a regulation Article 1 – paragraph 1 – point 11 Regulation (EU) No 2015/1017 Article 19 – paragraph 1 a (new) The
Amendment 457 #
Proposal for a regulation Article 1 – paragraph 1 – point 11 Regulation (EU) No 2015/1017 Article 19 – paragraph 1 a (new) The EIB and EIF shall inform or shall oblige financial intermediaries to inform the final beneficiaries
Amendment 458 #
Proposal for a regulation Article 1 – paragraph 1 – point 11 Regulation (EU) No 2015/1017 Article 19 – paragraph 1 a (new) The EIB and EIF shall inform or shall oblige financial intermediaries to inform the final beneficiaries, including SMEs, of the existence of EFSI support. Similarly, financial intermediaries will be required to launch active dissemination campaigns among potential beneficiaries of the lines of finance that they manage and which are supported by the EFSI, as well as their conditions and the form of access to them.
Amendment 459 #
Proposal for a regulation Article 1 – paragraph 1 – point 11 Regulation (EU) No 2015/1017 Article 19 – paragraph 1 a (new) The EIB and EIF shall inform or shall oblige financial intermediaries to inform the final beneficiaries, including SMEs, of the existence of EFSI support; and publish explanations as to why selected projects were supported on their website.
Amendment 460 #
Proposal for a regulation Article 1 – paragraph 1 – point 12 Regulation (EU) No 2015/1017 Article 22 – paragraph 1 – subparagraph 2 In particular the EIB and the EIF shall not participate in any financing or investment
Amendment 461 #
Proposal for a regulation Article 1 – paragraph 1 – point 12 Regulation (EU) No 2015/1017 Article 22 – paragraph 1 – subparagraph 2 In particular the EIB and the EIF shall not participate in any financing or investment operation through a vehicle located in
Amendment 462 #
Proposal for a regulation Article 1 – paragraph 1 – point 12 Regulation 2015/1017 Article 22 – paragraph 1 – subparagraph 2 In particular the EIB and the EIF shall not participate in any financing or investment operation through a vehicle located in a jurisdiction that does not co-operate with the Union in relation to the application of the internationally agreed tax standards and Union law on transparency, a
Amendment 463 #
Proposal for a regulation Article 1 – paragraph 1 – point 12 Regulation (EU) No 2015/1017 Article 22 – paragraph 1 – subparagraph 3 In their financing and investment operations covered by this Regulation, the EIB and the EIF shall not make use of or engage in tax avoidance structures, in particular aggressive tax planning schemes, or practices not complying with EU tax good governance principles, as set out in the Union legislation
Amendment 464 #
Proposal for a regulation Article 1 – paragraph 1 – point 12 Regulation (EU) No 2015/1017 Article 22 – paragraph 1 – subparagraph 3 a (new) The EIB and the EIF shall in particular not participate in any financing or investment operation where the beneficial owner or bank account holder remain unidentified.
Amendment 465 #
Proposal for a regulation Article 1 – paragraph 1 – point 12 Regulation (EU) No 2015/1017 Article 22 – paragraph 1 – subparagraph 4 Amendment 466 #
Proposal for a regulation Article 1 – paragraph 1 – point 12 The Commission shall provide detailed guidance
Amendment 467 #
Proposal for a regulation Article 1 – paragraph 1 – point 12 a (new) Regulation (EU) No 2015/1017 Article 22 – paragraph 2 (12 a) paragraph 2 is replaced by: ‘2. In its financing and investment operations covered by this Regulation, the EIB and the EIF shall apply the principles and standards set out in Union law on the prevention of the use of the financial system for the purpose of money laundering and terrorist financing and in particular in Regulation (EU) 2015/847 of the European Parliament and of the Council (18) and Directive (EU) 2015/849 of the European Parliament and of the Council (19). In particular, the EIB and the EIF shall make both direct funding and funding via intermediaries under this Regulation contingent upon the disclosure of beneficial ownership information in accordance with Directive (EU) 2015/849
Amendment 468 #
Proposal for a regulation Article 1 – paragraph 1 – point 11 a (new) Regulation (EU) No 2015/1017 Article 21 – paragraph 2 – subparagraph 1 (11 a) In Article 21, the first subparagraph of paragraph 2 is replaced by the following: ‘2. OLAF may carry out investigations, including on-the-spot checks and inspections, in accordance with the provisions and procedures laid down in Regulation (EU, Euratom) No 883/2013 of the European Parliament and of the Council (
Amendment 469 #
Proposal for a regulation Article 1 – paragraph 1 – point 12 a (new) Regulation (EU) No 2015/1017 (12 a) In Article 22, a new paragraph 2a is added: ‘The EIB shall put in place procedures to detect when an intermediary or final recipient of EFSI funds has infringed the legislation referred to in the first subparagraph and to recover the EFSI funds from them.’
Amendment 470 #
Proposal for a regulation Article 1 – paragraph 1 – point 12 b (new) Regulation (EU) No 2015/1017 Article 22 a (new) (12 b) A new Article is added: ‘Article 22a Gender Mainstreaming EFSI investments shall promote gender equality and the selected projects shall respect the principles of gender budgeting, notably identifying objectives linked to gender equality, designing policies according to these objectives, allocating of funds and ensuring the identification of gender indicators to measure the impact of these investments.’
Amendment 471 #
Amendment 472 #
Proposal for a regulation Article 1 – paragraph 1 – point 13 Regulation (EU) No 2015/1017 Article 23 – paragraph 2 – subparagraph 1 – first and second sentence Amendment 473 #
Proposal for a regulation Article 1 – paragraph 1 – point 13 Regulation (EU) No 2015/1017 Article 23 – paragraph 2 – subparagraph 1 – first and second sentence The power to adopt delegated acts referred to in Article 7(13) and (14) shall be conferred on the Commission for a period of five years from 4 July 2015. The Commission shall draw up a report in respect of the delegation of power not later than nine months before the end of the five-year period.
Amendment 474 #
Proposal for a regulation Article 1 – paragraph 1 – point 13 a (new) Regulation (EU) No 2015/1017 Article 23 a (new) (13a) A new Article is added: ‘Article 23a National contributions to the EFSI Member States shall contribute an amount equivalent to 0.1 per cent of their gross domestic product to the EFSI. This amount shall not be taken into account for the purposes of the Stability and Growth Pact.’
Amendment 475 #
Proposal for a regulation Article 1 – paragraph 1 – point 13 a (new) Regulation (EU) No 2015/1017 Article 24 – paragraph 2 (13 a) In Article 24, the second paragraph is replaced by the following: ‘2. The Commission shall assess the operations referred to in paragraph 1 and, where they comply with the eligibility criteria set out in Article 6, the general objectives set out in Article 9(2)
Amendment 476 #
Proposal for a regulation Article 1 – paragraph 1 – point 14 Regulation (EU) No 2015/1017 Annex II Amendment 477 #
Proposal for a regulation Article 2 Regulation (EU) No 1316/2013 Article 5 – paragraph 1 Amendment 478 #
Proposal for a regulation Article 2 Regulation (EU) No 1316/2013 Article 5 – paragraph 1 Amendment 479 #
Proposal for a regulation Article 2 – paragraph 1 Regulation (EU) No 1316/2013 Article 5 – paragraph 1 Amendment 480 #
Proposal for a regulation Article 2 – paragraph 1 Regulation (EU) No 1316/2013 Article 5 – paragraph 1 Amendment 481 #
Proposal for a regulation Annex II – point 1 – point a Regulation (EU) No 2015/1017 Annex II – section 2 – point b – subparagraph 1 a (new) Amendment 482 #
Proposal for a regulation Annex II – point 1 – point a Regulation (EU) No 2015/1017 Annex II – section 2 – point b – subparagraph 1 a (new) EFSI support to motorways shall be avoided, unless it is needed to support private investment in
Amendment 483 #
Proposal for a regulation Annex II – point 1 – point a Regulation (EU) No 2015/1017 Annex II – section 2 – point b – subparagraph 1 a (new) EFSI support to motorways shall be avoided, unless it is needed to support private investment in transport in cohesion countries or in cross-border transport projects involving at least one cohesion country; EFSI support for high speed trains shall also be avoided except in cases where there is a clear and positive outcome of cost-benefit analysis with European standards.
Amendment 484 #
Proposal for a regulation Annex II – point 1 – point a Regulation (EU) No 2015/1017 Annex II – section 2 – point b – subparagraph 1 a (new) EFSI support to motorways and airports shall be avoided
Amendment 485 #
Proposal for a regulation Annex II – point 1 – point a Regulation (EU) No 2015/1017 Annex II – section 2 – point b – subparagraph 1 a (new) EFSI support to motorways shall be avoided, unless it is needed to support private investment in transport in cohesion countries, including through the establishment of direct road connections to ports and business parks, or in cross- border transport projects involving at least one cohesion country.
Amendment 486 #
Proposal for a regulation Annex II – point 1 – point a Regulation (EU) No 2015/1017 Annex II – section 2 – point b – subparagraph 1 a (new) ‘EFSI support to motorways and airports shall be avoided, unless it is needed to support private investment in transport in cohesion countries or in cross-border transport projects involving at least one cohesion country.';
Amendment 487 #
Proposal for a regulation Annex II – point 1 – point a Regulation (EU) No 2015/1017 Annex II – section 2 – point b – subparagraph 1 a (new) EFSI support to motorways shall be avoided, unless it is needed to support private investment in transport in
Amendment 488 #
Proposal for a regulation Annex II – point 1 – point a a (new) Regulation (EU) No 2015/1017 Annex II – section 2 – point b – subparagraph 1 b (new) (a a) The following subparagraph is added: ‘EFSI support to social infrastructures shall be incentivized and substantially increased, in priority in cohesion countries.’
Amendment 489 #
Proposal for a regulation Annex II – point 1 – point a b (new) (a b) The following subparagraph is added: ‘EFSI support to fossil fuels shall be avoided, unless it is aimed at financing projects which are flagged as missing links in the EU strategy for liquefied natural gas and gas storage.’
Amendment 490 #
Proposal for a regulation Annex II – point 1 – point b Regulation (EU) No 2015/1017 Annex II – section 2 – point c – second sentence Amendment 491 #
Proposal for a regulation Annex II – point 1 – point b Regulation (EU) No 2015/1017 In this context, it is expected that the EIB will provide finance under the EFSI with a view to reach a
Amendment 492 #
Proposal for a regulation Annex II – point 1 b a (new) Regulation (EU) No 2015/1017 Annex II – section 2 – point 2 a (new) (b a) A new point is added: (2 a) The EIB shall use the EU guarantee for supporting investment platforms or funds and national promotional banks or institutions that invest in operations meeting the requirements of this Regulation (eligible vehicles), after approval by the Investment Committee. In order to avoid geographical concentration, Investment Committee shall encourage cooperation with cross-border investment platforms.
Amendment 493 #
Proposal for a regulation Annex II – point -2 (new) Regulation 2015/1017 Annex II – section 3 – subparagraph 1 (-2) In section 3, the firs subparagraph is replaced by the following: ‘The EU guarantee shall be granted in support of operations that meet the criterion of providing additionality as defined in Article 5(1) of this Regulation
Amendment 494 #
Proposal for a regulation Annex II – point 2 a (new) Regulation (EU) No 2015/1017 Annex II – section 3 – point d a (new) (2 a) in Section 3, point (da) is added: ‘(d a) attention shall be paid to region specific conditions when assessing the additionality.’
Amendment 495 #
Proposal for a regulation Annex II – point 3 The scoreboard shall be made public as soon as an operation under the EU
Amendment 496 #
Proposal for a regulation Annex II – point 3 Regulation (EU) No 2015/1017 Annex II – section 5 – paragraph 1 a (new) The scoreboard shall be made public as soon as an operation under the EU guarantee is signed, with the exclusion of commercially sensitive information; a compilation of the scoreboard results shall be presented to MEPs in an annual basis.
Amendment 497 #
Proposal for a regulation Annex II – point 3 The scoreboard shall be made public as soon as an operation under the EU guarantee is signed
Amendment 498 #
Proposal for a regulation Annex II – point 4 – point a – point i Regulation (UE) 2015/1017 Annex II – section 6 – point b – indent 1 For debt-type operations, the EIB or the EIF shall carry out its standard risk assessment, involving the computation of the probability of default and the recovery rate. Based on these parameters, the EIB or the EIF shall quantify the risk for each operation.
Amendment 499 #
Proposal for a regulation Annex II – point 6 – point c a (new) Regulation 2015/1017 Annex II – section 8 – point b (c a) in section 8, point b, the first paragraph is replaced by the following: ‘EFSI
Amendment 54 #
Proposal for a regulation Citation 5 a (new) Having regard to the opinion n. 2/2016 of the European Court of Auditors of 13 December 2016,
Amendment 55 #
Proposal for a regulation Citation 5 a (new) Having regard to Opinion No 2/2016 of the European Court of Auditors,
Amendment 56 #
Proposal for a regulation Citation 5 a (new) Having regard to the opinion of the European Court of Auditors,
Amendment 57 #
Proposal for a regulation Recital -1 (new) (-1) The primary aim of EFSI should be to support otherwise unfundable projects that provide European citizen with long-term environmental and societal benefits such as high quality long-term jobs and public infrastructure. It is therefore much more important to identify and support projects that provide this genuine additionality and quality rather than being driven by technical aspects such as leverage factors or project speed and volumes.
Amendment 58 #
Proposal for a regulation Recital -1 (new) (–1) There is an investment gap in the EU that is compromising the resumption of economic growth.
Amendment 59 #
Proposal for a regulation Recital -1 a (new) (–1a) There is a liquidity surplus in the banking system, which does not suggest market failure at investment level.
Amendment 60 #
Proposal for a regulation Recital -1 b (new) (–1b) There are some reservations with regard to the implementation of the EFSI, particularly in relation to additionality, excessive geographical and thematic concentration and the governance model, concerns which have also been expressed in the Court of Auditors report.
Amendment 61 #
Proposal for a regulation Recital -1 c (new) (–1c) The plan to turn the EFSI into a permanent instrument could transform it into a further anti-democratic element in the distribution among the Member States of private investment with public support.
Amendment 62 #
Proposal for a regulation Recital -1 d (new) (–1d) Only a genuinely public investment plan geared to social, economic and territorial cohesion will be capable of helping to increase aggregate demand and carry out investment in public infrastructure, which may subsequently leverage and boost private investment. Only a plan of this nature can be effective in reviving growth, fighting unemployment and combating social, economic and territorial inequalities.
Amendment 63 #
Proposal for a regulation Recital 1 (1) Since the Investment Plan for Europe was presented in November 20143
Amendment 64 #
Proposal for a regulation Recital 1 (1)
Amendment 65 #
Proposal for a regulation Recital 1 (1) Since the Investment Plan for Europe was presented in November 20143 , the conditions for an uptake in investment have
Amendment 66 #
Proposal for a regulation Recital 1 (1) Since the Investment Plan for Europe was presented in November 20143
Amendment 67 #
Proposal for a regulation Recital 1 (1) Since the Investment Plan for Europe was presented in November 20143 , the conditions for an uptake in investment have improved and confidence in Europe’s economy and growth are returning. The Union is now in its fourth year of moderate recovery, with Gross Domestic Product growing at 2% in 2015. The comprehensive efforts initiated with the Investment Plan are already delivering concrete results, despite the fact that macroeconomic effects of larger investment projects cannot be immediate. Investment is expected to pick up gradually throughout 2016 and 2017 although the pace is still timid it remains below historical levels. _________________ 3 COM(2014) 903 final. COM(2014) 903 final.
Amendment 68 #
Proposal for a regulation Recital 2 Amendment 69 #
Proposal for a regulation Recital 2 Amendment 70 #
Proposal for a regulation Recital 2 (2) T
Amendment 71 #
Proposal for a regulation Recital 2 (2) That positive momentum should be maintained and efforts need to be continued to bring investment back to its long-term sustainable trend. The
Amendment 72 #
Proposal for a regulation Recital 2 (2) That positive momentum should be maintained and efforts need to be continued to bring investment back to its
Amendment 73 #
Proposal for a regulation Recital 2 (2) That positive momentum should be maintained and efforts need to be continued to bring investment back to its long-term sustainable trend. The mechanisms of the Investment Plan work and should be reinforced to continue the mobilisation of private investments in sectors important to Europe's future and where market failures or sub-optimal investment situations remain, in such a way as to generate a substantive macroeconomic impact and to generate jobs.
Amendment 74 #
Proposal for a regulation Recital 2 (2) That positive momentum should be maintained and efforts need to be continued to bring investment back to its long-term sustainable trend reaching the real economy. The mechanisms of the Investment Plan work and should be reinforced to continue the mobilisation of private investments in sectors important to Europe's future and where market failures or sub-optimal investment situations remain.
Amendment 75 #
Proposal for a regulation Recital 2 a (new) (2 a) Cultural and creative industries play a key role in reindustrialising Europe, are a driver for growth and are in a strategic position to trigger innovative spill-overs in other industrial sectors, such as tourism, retail, and digital technologies.
Amendment 76 #
Proposal for a regulation Recital 3 (3)
Amendment 77 #
Proposal for a regulation Recital 3 a (new) (3a) On 11 November 2016, the European Court of Auditors published an opinion in which it stated that: ‘the European Commission plans to increase and extend the investment fund at the heart of the “Juncker Plan” were drawn up too soon and with little evidence that the increase is justified’. The Court of Auditors also highlighted the fact that ‘no comprehensive impact assessment has been made’ and criticised the ‘deletion of the provision linking the continuation of EFSI to the results of an independent evaluation’. It also emphasised ‘the risk that the multiplier effect is overstated’, and that the objectives and results cited were those expected and not ones confirmed by tangible, accurate, clear or immediate statistics.
Amendment 78 #
Proposal for a regulation Recital 3 a (new) (3a) On 11 November 2016, the European Court of Auditors published an opinion in which it stated that: ‘the European Commission plans to increase and extend the investment fund at the heart of the “Juncker Plan” were drawn up too soon and with little evidence that the increase is justified’. The Court of Auditors also highlighted the fact that ‘no comprehensive impact assessment has been made’ and criticised the ‘deletion of the provision linking the continuation of EFSI to the results of an independent evaluation’. It also emphasised ‘the risk that the multiplier effect is overstated’, and that the objectives and results cited were those expected and not ones confirmed by tangible, accurate, clear or immediate statistics.
Amendment 79 #
Proposal for a regulation Recital 3 a (new) (3 a) The European Court of Auditors on its Special Reports n. 19/2016 and n. 5/2015 came to the conclusion that the Union financial instruments, EFSI included, under shared management were overcapitalised, struggled to control cost/fees, attract private capital and re-use financial support; furthermore, according to European Court of Auditors and on the basis of the EIB provided data and estimates, the current guarantee is sufficient for a further period of operation of the IIW, recommending instead to the sole consideration of an increase of the EU guarantee for the SMEW, as this would reduce the fragmentation between EFSI and other financial instruments.
Amendment 80 #
Proposal for a regulation Recital 3 a (new) Amendment 81 #
Proposal for a regulation Recital 4 (4)
Amendment 82 #
Proposal for a regulation Recital 4 (4) The EFSI, implemented and co- sponsored by the EIB Group, is
Amendment 83 #
Proposal for a regulation Recital 4 (4) The EFSI, implemented and co- sponsored by the EIB Group, is
Amendment 84 #
Proposal for a regulation Recital 4 (4) The EFSI, implemented and co- sponsored by the EIB Group, is firmly on track to deliver the objective of mobilising at least EUR 315 billion in additional investments in the real economy by mid- 2018. The market absorption has been particularly quick under the SME Window where the EFSI is delivering well beyond expectations. In July 2016 the SME Window was thus scaled-up by EUR 500 million within the existing parameters of Regulation (EU) No 2015/1017. A larger share of financing to be geared towards SMEs given the exceptional market demand for SME financing under the EFSI: 40% of the increased risk bearing capacity of the EFSI should be geared towards increasing access to financing for SMEs. Regulation (EU) No 2015/1017 should be revised so as to enable the EFSI to focus its efforts on sustainable investments allowing the EU honouring its COP21 commitments. With this in mind, a larger share of financing is also to be geared towards climate relevant projects of SMEs.
Amendment 85 #
Proposal for a regulation Recital 4 (4) The EFSI, implemented and co- sponsored by the EIB Group, is firmly on track to deliver the objective of mobilising at least EUR 315 billion in additional investments in the real economy by mid- 2018. Underlines that all the projects benefiting from EFSI support should continue to do so even after the UK leaving the EU. The market absorption has been particularly quick under the SME Window where the EFSI is delivering well beyond expectations. In July 2016 the SME Window was thus scaled-up by EUR 500 million within the existing parameters of Regulation (EU) No 2015/1017. A larger share of financing to be geared towards SMEs given the exceptional market demand for SME financing under the EFSI: 40% of the increased risk bearing capacity of the EFSI should be geared towards increasing access to financing for SMEs.
Amendment 86 #
Proposal for a regulation Recital 4 a (new) (4 a) Articles 18(6) and 18(7) of the Regulation (EU) No 2015/1017 provide for a proposal to amend that Regulation to be made by 5 July 2018 and require that such a proposal should be supported by an independent evaluation on whether EFSI "is achieving its objectives and maintaining a scheme for supporting investment is warranted". This independent evaluation of the application of that Regulation carried out by external experts was released only after the Commission's proposal on the extension of EFSI.
Amendment 87 #
Proposal for a regulation Recital 5 (5) On 28 June 2016, the European Council concluded that "The Investment Plan for Europe, in particular the European Fund for Strategic Investments (EFSI), has already delivered concrete results and is a major step to help mobilise private investment while making smart use of scarce budgetary resources.
Amendment 88 #
Proposal for a regulation Recital 5 (5) On 28 June 2016 the European Council concluded, albeit in the absence of the intended independent assessment which could supply precise and objective data, that "The Investment Plan for Europe, in particular the European Fund for Strategic Investments (EFSI), has already delivered concrete results and is a major step to help mobilise private investment while making smart use of scarce budgetary resources. The Commission intends to soon put forward proposals on the future of the EFSI, which should be examined as a matter of urgency by the European Parliament and the Council
Amendment 89 #
Proposal for a regulation Recital 5 (5) On 28 June 2016 the European Council concluded that "The Investment Plan for Europe, in particular the European Fund for Strategic Investments (EFSI), has already delivered concrete results and is a major step to help mobilise private investment while making smart use of scarce budgetary resources. The Commission intends to soon put forward proposals on the future of the EFSI, which should be examined as a matter of urgency by the European Parliament and the Council." However, the sectoral and regional penetration of the projects still needs to be improved. In the light of this necessity, and of the existing financial frictions, the structural obstacles and the existing normative frameworks, the Commission should proceed with worthwhile initiatives to help to mobilise private investment, making provision, inter alia, for the introduction of the necessary changes to enable financial institutions to include more infrastructure projects in their portfolios.
Amendment 90 #
Proposal for a regulation Recital 5 (5) On 28 June 2016 the European
Amendment 91 #
Proposal for a regulation Recital 6 (6) The EFSI was established for an initial period of three years and with the aim of mobilising at least EUR 315 billion in investments.
Amendment 92 #
Proposal for a regulation Recital 6 (6) The EFSI was established for an initial period of three years and with the aim of mobilising at least EUR 315 billion in investments.
Amendment 93 #
Proposal for a regulation Recital 6 (6) The EFSI was established for an initial period of three years and with the aim of mobilising at least EUR 315 billion in investments.
Amendment 94 #
Proposal for a regulation Recital 6 (6) The EFSI was established for an initial period of three years and with the aim of mobilising at least EUR 315 billion in investments.
Amendment 95 #
Proposal for a regulation Recital 6 (6) The EFSI was established for an initial period of three years and with the aim of mobilising at least EUR 315 billion in investments. Given its success, the Commission is committed to
Amendment 96 #
Proposal for a regulation Recital 6 (6) The EFSI was established for an initial period of three years and with the aim of mobilising at least EUR 315 billion in investments. Given its success, the Commission is committed to the doubling of the EFSI, both in terms of duration and financial capacity. The legal extension covers the period of the current Multiannual Financial Framework and should provide a total of at least half a trillion euro investments by 2020. In order to enhance the firepower of the EFSI even further and reach the aim of doubling the investment target, Member States
Amendment 97 #
Proposal for a regulation Recital 6 (6) The EFSI was established for an initial period of three years and with the aim of mobilising at least EUR 315 billion in investments. Given its partial success, the Commission is committed to the doubling of the EFSI, both in terms of duration and financial capacity. The legal extension covers the period of the current Multiannual Financial Framework and should provide a total of at least half a trillion euro investments by 2020. In order to enhance the firepower of the EFSI even further and reach the aim of doubling the investment target, Member States should also contribute as a matter of priority. In particular, Member States with fiscal space should be encouraged to carry out more expansionary fiscal policy by making full use of the tools of the Investment Plan for Europe and by contributing to the EFSI.
Amendment 98 #
Proposal for a regulation Recital 6 (6) The EFSI was established, as an emergency plan, for an initial period of three years and with the aim of mobilising at least EUR 315 billion in investments. Given its success, the Commission is committed to the doubling
Amendment 99 #
Proposal for a regulation Recital 6 a (new) (6 a) EFSI is one of the pillars of the all-encompassing Investment Plan for Europe, and its implementation cannot be successful without implementation of activities aimed at strengthening the single market, creating a favourable business environment and implementation of structural reforms. In addition, well structured projects as parts of investment and development plans brought at the level of Member States are of key importance for success in using EFSI.
source: 602.737
2017/03/29
CONT
94 amendments...
Amendment 100 #
Proposal for a regulation Article 1 – paragraph 1 – point 13 Regulation (EU) No 2015/1017 Amendment 101 #
Proposal for a regulation Article 2 – paragraph 1 – point 1 Regulation (EU) No 1316/2013 Article 5 – paragraph 1 Amendment 102 #
Proposal for a regulation Annex I – point 1 – point a Regulation (EU) No 2015/1017 Annex II – section 2 – point b – subparagraph 1 a (new) EFSI support to motorways and airports shall be avoided, unless it is needed to support private investment in transport in cohesion countries or in cross-border transport projects involving at least one cohesion country.
Amendment 103 #
Proposal for a regulation Annex I – point 1 – point b Regulation (EU) No 2015/1017 Annex II – section 2 – point c – second sentence Amendment 104 #
Proposal for a regulation Annex I – point 3 Regulation (EU) No 2015/1017 Annex II – section 5 – paragraph 1 a The scoreboard shall be made public as soon as an operation under the EU guarantee is signed
Amendment 105 #
Proposal for a regulation Annex I – point 4 – point a – point i Regulation (EU) 2015/1017 Annex II – section 6 – point b – indent 1 – first and second sentence For debt type operations, the EIB or the EIF shall carry out its standard risk assessment, involving the computation of the probability of default and the recovery rate. Based on these parameters, the EIB or the EIF shall quantify the risk for each operation. This assessment shall then be made public and accessible.
Amendment 12 #
Proposal for a regulation Title 1 a (new) The European Parliament rejects the Commission proposal.
Amendment 13 #
Proposal for a regulation Citation 1 a (new) Having regard to Protocol (No 1) of the Treaty on the Functioning of the European Union (TFEU) on the role of national parliaments in the European Union,
Amendment 14 #
Proposal for a regulation Citation 1 b (new) Having regard to Protocol (No 2) of the Treaty on the Functioning of the European Union (TFEU) on the application of the principles of subsidiarity and proportionality,
Amendment 15 #
Proposal for a regulation Citation 5 a (new) Having regard to the opinion No 02/2016 of the Court of Auditors1a , _________________ 1a OJ C 465, 13.12.2016, p. 1.
Amendment 16 #
Proposal for a regulation Citation 5 a (new) Having regard to the Opinion No 02/2016 of the Court of Auditors1a, _________________ 1a OJ C 465, 13.12.2016, p. 1.
Amendment 17 #
Proposal for a regulation Citation 5 a (new) Having regard to Opinion No 2/2016 of the European Court of Auditors,
Amendment 18 #
Proposal for a regulation Recital 1 Amendment 19 #
Proposal for a regulation Recital 1 (1) Since the Investment Plan for Europe was presented in November 20143 , the conditions for an uptake in investment have improved
Amendment 20 #
Proposal for a regulation Recital 1 (1)
Amendment 21 #
Proposal for a regulation Recital 1 (1) Since the Investment Plan for Europe was presented in November 20143 , the conditions for an uptake in investment have improved and confidence in Europe’s economy and growth
Amendment 22 #
Proposal for a regulation Recital 2 Amendment 23 #
Proposal for a regulation Recital 2 Amendment 24 #
Proposal for a regulation Recital 2 (2) That positive momentum, little as it is, should be maintained and even accelerated, and efforts need to be continued to bring investment back to its long-term sustainable trend.
Amendment 25 #
Proposal for a regulation Recital 2 (2) That positive momentum should be maintained and efforts need to be continued to bring investment back to its long-term sustainable trend. The mechanisms of the Investment Plan work and should be reinforced to continue the mobilisation of private investments in sectors important to Europe's future and where market failures or sub-optimal investment situations remain, without losing attention to institutional and sectoral problems which cause such market failures and sub-optimal investment situations.
Amendment 26 #
Proposal for a regulation Recital 3 (3) On 1 June 2016 the Commission issued a Communication entitled ‘Europe investing again – Taking stock of the Investment Plan for Europe and next steps’
Amendment 27 #
Proposal for a regulation Recital 3 a (new) (3a) On 11 November 2016, the European Court of Auditors published an opinion in which it stated that: ‘the European Commission plans to increase and extend the investment fund at the heart of the “Juncker Plan” were drawn up too soon and with little evidence that the increase is justified’. The Court of Auditors also highlighted the fact that ‘no comprehensive impact assessment has been made’ and criticised the ‘deletion of the provision linking the continuation of EFSI to the results of an independent evaluation’. It also emphasised ‘the risk that the multiplier effect is overstated’, and that the objectives and results cited were those expected and not ones confirmed by tangible, accurate, clear or immediate statistics.
Amendment 28 #
Proposal for a regulation Recital 4 (4)
Amendment 29 #
Proposal for a regulation Recital 4 (4) The EFSI, implemented and co- sponsored by the EIB Group, is firmly on track to deliver the objective of mobilising at least EUR 315 billion in additional investments in the real economy by mid- 2018.
Amendment 30 #
Proposal for a regulation Recital 4 (4) The EFSI, implemented and co- sponsored by the EIB Group, is
Amendment 31 #
Proposal for a regulation Recital 4 a (new) (4a) The EFSI is part of the Investment Plan, a comprehensive strategy designed to address uncertainty surrounding public and private investments and to reduce the investment gaps in the Union. The strategy has three pillars: mobilising finance for investment, ensuring that investment reaches the real economy and improving the investment environment in the Union. For the purpose of geographical diversification, it is essential that the investment environment in the Union is improved by removing barriers to investment. The EFSI should be seen as a complement to other actions needed to reduce investment gaps in the Union and, by acting as a guarantee fund, as a stimulus for new investment.
Amendment 32 #
Proposal for a regulation Recital 5 (5) On 28 June 2016 the European Council, despite not having at its disposal any independent assessment containing accurate and objective statistics, concluded that "The Investment Plan for Europe, in particular the European Fund for Strategic Investments (EFSI), has already delivered concrete results and is a
Amendment 33 #
Proposal for a regulation Recital 6 (6) The EFSI was established for an initial period of three years and with the aim of mobilising at least EUR 315 billion in investments.
Amendment 34 #
(6) The EFSI was established for an initial period of three years and with the aim of mobilising at least EUR 315 billion in investments.
Amendment 35 #
Proposal for a regulation Recital 6 (6) The EFSI was established for an initial period of three years and with the aim of mobilising at least EUR 315 billion in investments. Given its success, the Commission is committed to the doubling of the EFSI, both in terms of duration and financial capacity. The legal extension covers the period of the current Multiannual Financial Framework and should provide a total of at least half a trillion euro investments by 2020. In order to enhance the firepower of the EFSI even further and reach the aim of doubling the investment target, Member States should also contribute as a matter of priority. Care must also be exercised by the EIB in the control of those funds, however, to ensure that Member States do not use those additional funds as an excuse to abrogate their own responsibilities and reduce or even to end public investment in public services.
Amendment 36 #
Proposal for a regulation Recital 6 (6) The EFSI was established for an initial period of three years and with the aim of mobilising at least EUR 315 billion in investments.
Amendment 37 #
Proposal for a regulation Recital 7 Amendment 38 #
Proposal for a regulation Recital 7 (7)
Amendment 39 #
Proposal for a regulation Recital 7 (7) For the period after 2020, the Commission
Amendment 40 #
Proposal for a regulation Recital 7 (7) For the period after 2020, the Commission
Amendment 41 #
Proposal for a regulation Recital 7 a (new) (7a) In order for it to carry out its work, the Court of Auditors requires access to the Commission's annual report on the management of the guarantee fund no later than 31 May of each year. In this regard, the audit rights of the Court of Auditors as laid down in Article 287 TFEU should be fully respected and the report should be submitted to the European Parliament, to the Council and to the Court of Auditors in a timely fashion.
Amendment 42 #
Proposal for a regulation Recital 8 (8) The
Amendment 43 #
Proposal for a regulation Recital 8 (8) The extended EFSI should address remaining market failures and sub-optimal investment situations and continue to mobilise private sector financing in investments crucial for Europe’s future job creation – including for the youth –, growth and competitiveness with strengthened additionality. They include investments in the areas of energy, environment and climate action, social and
Amendment 44 #
Proposal for a regulation Recital 8 (8) The extended EFSI should address remaining market failures and sub-optimal investment situations and continue to mobilise private sector financing in investments crucial for Europe’s future job creation – including for the youth –, growth and competitiveness with
Amendment 45 #
Proposal for a regulation Recital 8 (
Amendment 46 #
Proposal for a regulation Recital 8 a (new) (8a) The EFSI should not finance transport infrastructure work in the absence of an independent impact assessment and if its implementation is controversial from an economic, environmental or social point of view. Support of any kind for the fossil fuel sector must be prohibited.
Amendment 47 #
Proposal for a regulation Recital 9 (9) Additionality, a key feature of the EFSI, should be strengthened in the selection of projects. In particular, operations should only be eligible for EFSI support if they address clearly identified market failures or sub-optimal investment situations.
Amendment 48 #
Proposal for a regulation Recital 9 (9) Additionality, a key feature of the EFSI, should be strengthened in the selection of projects. In particular, operations should only be eligible for EFSI support if they address clearly identified market failures or sub-optimal investment situations. The purpose of additionality should be limited to ensuring that selected projects are those that could not have otherwise obtained financing on the market due to a higher risk profile. Additionality as a term must be kept simple and create other more easily measurable criterion for the funding. Operations in infrastructure under the Infrastructure and Innovation Window linking two or more Member States, including e-infrastructure, should be considered additional given their inherent difficulty and their high added value for the Union.
Amendment 49 #
Proposal for a regulation Recital 10 Amendment 50 #
Proposal for a regulation Recital 10 (10)
Amendment 51 #
Proposal for a regulation Recital 11 Amendment 52 #
Proposal for a regulation Recital 11 (11) In order to reinforce the take-up of the EFSI in all regions, and particularly in less-developed
Amendment 53 #
Proposal for a regulation Recital 11 (11) In order to reinforce the take-up of the EFSI in the less-developed and transition regions, the scope of the general objectives eligible for EFSI support should be enlarged.
Amendment 54 #
Proposal for a regulation Recital 12 Amendment 55 #
Proposal for a regulation Recital 12 Amendment 56 #
Proposal for a regulation Recital 13 Amendment 57 #
Proposal for a regulation Recital 13 Amendment 58 #
Proposal for a regulation Recital 14 Amendment 59 #
Proposal for a regulation Recital 14 Amendment 60 #
Proposal for a regulation Recital 14 (14) In order to partly finance the contribution from the general budget of the Union to the EU guarantee fund for the additional investments to be made,
Amendment 61 #
Proposal for a regulation Recital 15 Amendment 62 #
Proposal for a regulation Recital 15 Amendment 63 #
Proposal for a regulation Recital 16 (16)
Amendment 64 #
Proposal for a regulation Recital 16 (
Amendment 65 #
Proposal for a regulation Recital 16 (
Amendment 66 #
Proposal for a regulation Recital 16 a (new) (16a) Simplification is needed in the procedures for processing operations so that the information which final beneficiaries, especially SMEs, are required to provide is the minimum necessary to ensure their success without imposing an excessive bureaucratic burden for SMEs, while bearing in mind that transparency of the procedure should be prioritised;
Amendment 67 #
Proposal for a regulation Recital 17 (17) The EIB and the EIF should ensure that the final beneficiaries,
Amendment 68 #
Proposal for a regulation Recital 18 a (new) (18a) In order to overcome the almost total lack of information and disaggregated statistical data on the projects financed thus far, in particular with regard to the expected impact, benefits and additionality of each individual project, the EIB is asked to publish all available information about, and findings of, impact assessments for operations carried out within the framework of the EFSI. The EIB is also called upon to provide a detailed explanation of the added value and additionality of each project financed and of how each one contributes to the achievement of EFSI objectives and the fundamental long-term strategies and objectives of the EU. In the same way, the EIB should report on the results achieved by the EFSI to gauge the real economic, social and environmental impact, the real added value and the additionality of the projects financed, as well as the actual capacity of the Fund to achieve the stated objectives.
Amendment 69 #
Proposal for a regulation Recital 19 (19) The operations supported by the EFSI should adhere in every aspect to the Union's principles of
Amendment 70 #
Proposal for a regulation Recital 21 Amendment 71 #
Proposal for a regulation Recital 21 (21) The European Investment Advisory Hub (EIAH) should be enhanced and its activities should focus on needs not covered adequately under current
Amendment 72 #
Proposal for a regulation Article 1 – paragraph 1 – point 1 Regulation (EU) No 2015/1017 Article 4 – paragraph 2 – point a – point ii Amendment 73 #
Proposal for a regulation Article 1 – paragraph 1 – point 1 – point b Regulation (EU) No 2015/1017 Article 4 – paragraph 2 – point c – point i Amendment 74 #
Proposal for a regulation Article 1 – paragraph 1 – point 2 Regulation (EU) No 2015/1017 Article 5 – paragraph 1 – subparagraph 3 Amendment 75 #
Proposal for a regulation Article 1 – paragraph 1 – point 2 Regulation (EU) 2015/1017 Article 5 – paragraph 1 – subparagraph 5 Amendment 76 #
Proposal for a regulation Article 1 – paragraph 1 – point 3 Regulation (EU) No 2015/1017 Article 6 – paragraph 1 – introductory part The EFSI Agreement shall provide that the EFSI is to support projects which address market failures or sub-optimal investment situations including with the purpose of achieving a more balanced geographical distribution of investments and which:;
Amendment 77 #
Proposal for a regulation Article 1 – paragraph 1 – point 4 – point b Regulation (EU) No 2015/1017 Article 7 – paragraph 10 – second sentence Each member of the Investment Committee shall communicate without delay to the Steering Board, the Managing Director and the Deputy Managing Director all information needed to check on an ongoing basis the absence of any conflict of interest
Amendment 78 #
Proposal for a regulation Article 1 – paragraph 1 – point 4 – point d Regulation (EU) 2015/1017 Article 7 – paragraph 12 – subparagraph 2 – second sentence Decisions approving the use of the EU guarantee shall be public and accessible, and shall include the rationale for the decision, with particular focus on compliance with the additionality criterion, and information on the fulfilment of the eligibility criteria referred to in Article 6 and on the use of the scoreboard of indicators referred to in paragraph 14 of this Article. The publication shall not contain commercially sensitive information. In reaching its decision, the Investment Committee shall be supported by the documentation provided by the EIB.;
Amendment 79 #
Proposal for a regulation Article 1 – paragraph 1 – point 4 – point d a (new) Regulation (EU) No 2015/1017 Article 7 – paragraph 12 – subparagraph 3 a (new) (da) in paragraph 12, subparagraph 3a is added: ‘The Investment Committee shall appear before the European Parliament at six- monthly intervals to report on, and where necessary explain, investment decisions taken, in accordance with Article 16(2) of this Regulation’.
Amendment 80 #
Proposal for a regulation Article 1 – paragraph 1 – point 5 – point b Regulation (EU) No 2015/1017 Article 9 – paragraph 2 – subparagraph 1 a The EIB shall target that at least
Amendment 81 #
Proposal for a regulation Article 1 – paragraph 1 – point 5 – point c Regulation (EU) No 2015/1017 Article 9 – paragraph 3 Amendment 82 #
Proposal for a regulation Article 1 – paragraph 1 – point 5 – point c Regulation (EU) 2015/1017 Article 9 – paragraph 3 – point a (a) 31 December 2020, for EIB operations for which a contract between the EIB and the beneficiary or financial intermediary has been signed by 31 December 202
Amendment 83 #
Proposal for a regulation Article 1 – paragraph 1 – point 5 – point c Regulation (EU) 2015/1017 Article 9 – paragraph 3 – point b (b) 31 December 2020, for EIF operations for which a contract between the EIF and the financial intermediary has been signed by 31 December 202
Amendment 84 #
Proposal for a regulation Article 1 – paragraph 1 – point 5 – point d Regulation (EU) No 2015/1017 Article 9 – paragraph 4 Amendment 85 #
Proposal for a regulation Article 1 – paragraph 1 – point 6 Regulation (EU) No 2015/1017 Article 10 – paragraph 2 – point a ‘(a) EIB loans, guarantees, counter- guarantees
Amendment 86 #
Proposal for a regulation Article 1 – paragraph 1 – point 7 Regulation (EU) No 2015/1017 Article 11 – paragraphs 1, 3 and in paragraph 6 points a and b Amendment 87 #
Proposal for a regulation Article 1 – paragraph 1 – point 8 Regulation (EU) No 2015/1017 Article 12 – paragraphs 5, 7, 8, 9 and 10 Amendment 88 #
Proposal for a regulation Article 1 – paragraph 1 – point 9 – point a – point i Regulation (EU) 2015/1017 Article 14 – paragraph 1 – subparagraph 1 – second sentence ‘Such support shall include providing targeted support on the use of technical assistance for project structuring
Amendment 89 #
Proposal for a regulation Article 1 – paragraph 1 – point 9 – point b – point i Regulation (EU) No 2015/1017 Article 14 – paragraph 2 – point c (c) leveraging local
Amendment 90 #
Proposal for a regulation Article 1 – paragraph 1 – point 9 – point b – point ii Regulation (EU) No 2015/2017 Article 14 – paragraph 2 – point e (e) providing pro-active support on the establishment of investment platforms with a view to simultaneously supporting smaller-scale projects, while bearing in mind that the requirement of innovativeness must be fulfilled;
Amendment 91 #
Proposal for a regulation Article 1 – paragraph 1 – point 9 – point b – point iii Regulation (EU) No 2015/1017 Article 14 – paragraph 2 – point f (f) providing advice on the com
Amendment 92 #
Proposal for a regulation Article 1 – paragraph 1 – point 9 – point d a (new) Regulation (EU) 2015/1017 Article 14 – paragraph 9 a (new) (da) the following paragraph 9a is inserted; "9a. In order to ensure that the EIAH can perform its activities and contribute to the objective of sectorial and geographical diversification of the EFSI, the EIB may submit to the Commission a justified request for an increase of the EIAH's budget."
Amendment 93 #
Proposal for a regulation Article 1 – paragraph 1 – point 9 a (new) Regulation (EU) No 2015/1017 Article 16 – paragraph 2 "
Amendment 94 #
Proposal for a regulation Article 1 – paragraph 1 – point 10 – point a a (new) Regulation (EU) 2015/1017 (aa) in paragraph 6 the following subparagraph is added: The report to be submitted by 30 June 2020 shall, where appropriate, be accompanied by a legislative proposal to amend this Regulation with a view to either setting a new investment period, addressing any flaws identified and ensuring that strategic investment continues at a sustainable level, or, where the report concludes that maintaining a scheme for supporting investment is not warranted, ensuring a smooth termination of the EFSI, while preserving the EU guarantee for the operations already approved under this Regulation. In accordance with the Interinstitutional Agreement of 13 April 2016 on Better Law Making, such proposal shall be accompanied by an impact assessment.;
Amendment 95 #
Proposal for a regulation Article 1 – paragraph 1 – point 10 – point a a (new) Regulation (EU) No 2015/1017 Article 18 – paragraph 7 Amendment 96 #
Proposal for a regulation Article 1 – paragraph 1 – point 10 – point b Amendment 97 #
Proposal for a regulation Article 1 – paragraph 1 – point 10 – point b Regulation (EU) No 2015/1017 Article 18 – paragraph 8 (b) paragraph
Amendment 98 #
Proposal for a regulation Article 1 – paragraph 1 – point 10 a (new) Regulation (EU) 2015/1017 Article 19 – paragraph 1 Amendment 99 #
Proposal for a regulation Article 1 – paragraph 1 – point 11 a (new) Regulation (EU) 2015/1017 Article 20 – paragraph 2 (11a) in Article 20, paragraph 2 is amended as follows: "2. For the purpose of paragraph 1 of this Article, the Court of Auditors shall, at its request and in accordance with Article 287(3) TFEU, be granted full access to any document or information necessary to carry out its task."
source: 602.793
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other/0/dg/url |
Old
http://ec.europa.eu/dgs/economy_finance/index_en.htmNew
http://ec.europa.eu/info/departments/economic-and-financial-affairs_en |
activities/1/committees/1/shadows |
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activities/1/committees/4/shadows |
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activities/2 |
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committees/1/shadows |
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committees/4/shadows |
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activities/1/committees/1 |
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activities/1/committees/4 |
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activities/1/committees/8/committee_full |
Old
Industry, Research and EnergyNew
Industry, Research and Energy (Associated committee) |
activities/1/committees/10/committee_full |
Old
Transport and TourismNew
Transport and Tourism (Associated committee) |
committees/1 |
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committees/4 |
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committees/8/committee_full |
Old
Industry, Research and EnergyNew
Industry, Research and Energy (Associated committee) |
committees/10/committee_full |
Old
Transport and TourismNew
Transport and Tourism (Associated committee) |
procedure/dossier_of_the_committee |
Old
ECON/8/07818New
CJ16/8/08950 |
procedure/legal_basis/0 |
Rules of Procedure of the European Parliament EP 055
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activities/0/docs/0/celexid |
CELEX:52016PC0597:EN
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activities/0/docs/0/celexid |
CELEX:52016PC0597:EN
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activities/1/committees/1/date |
2016-09-19T00:00:00
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activities/1/committees/1/rapporteur |
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committees/1/date |
2016-09-19T00:00:00
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committees/1/rapporteur |
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activities/1/committees/2/date |
2016-11-21T00:00:00
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activities/1/committees/2/rapporteur |
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committees/2/date |
2016-11-21T00:00:00
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committees/2/rapporteur |
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activities/1/committees/2 |
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committees/2 |
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activities/1/committees/3/date |
2016-11-23T00:00:00
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activities/1/committees/3/rapporteur |
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activities/1/committees/5/date |
2016-11-16T00:00:00
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activities/1/committees/5/rapporteur |
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committees/3/date |
2016-11-23T00:00:00
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committees/3/rapporteur |
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committees/5/date |
2016-11-16T00:00:00
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committees/5/rapporteur |
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activities/0/docs/0/text |
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activities/1/committees/1/date |
2016-09-19T00:00:00
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activities/1/committees/1/rapporteur |
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activities/1/committees/6/date |
2016-10-11T00:00:00
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activities/1/committees/6/rapporteur |
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activities/1/committees/7/date |
2016-10-25T00:00:00
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activities/1/committees/7/rapporteur |
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committees/1/date |
2016-09-19T00:00:00
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committees/1/rapporteur |
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committees/6/date |
2016-10-11T00:00:00
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committees/6/rapporteur |
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committees/7/date |
2016-10-25T00:00:00
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committees/7/rapporteur |
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activities/1 |
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procedure/dossier_of_the_committee |
ECON/8/07818
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procedure/stage_reached |
Old
Preparatory phase in ParliamentNew
Awaiting committee decision |
committees/3 |
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activities/0/commission/0 |
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other/0 |
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activities |
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committees |
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links |
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other |
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procedure |
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