67 Amendments of Terry REINTKE related to 2015/0009(COD)
Amendment 23 #
Proposal for a regulation
Recital 1
Recital 1
(1) The economic and financial crisis hasand the mistakes in the economic governance have led to a lowering of the level of investments within the Union. Investment has fallen by approximately 15% since its peak in 2007. The Union suffers in particular from a lack of targeted quality investment as a consequence of market uncertainty regarding the economic future and the fiscal constraints on Member States. This lack of investment slows economic recovery and negatively affects job creation, long-term growth prospects and competitiveness.
Amendment 33 #
Proposal for a regulation
Recital 2
Recital 2
(2) Comprehensive action is required to reverse the vicious circle created by a lack of investment. Structural reforms and fiscal responsibility are necessary preconditions for stimulating investment. Along with a renewed impetus towards investment financing, these preconditInvestment projects are needed which target the most affected regions can contribute to establishing a virtuous circle, where investment projects help support employment and demand and lead to a sustained increase in growth potentiald have a value-added for society so as to help support and generate medium to long-term employment and demand.
Amendment 46 #
Proposal for a regulation
Recital 4
Recital 4
(4) Throughout the economic and financial crisis, the Union has made efforts to promote growth, in particular through initiatives set out in the Europe 2020 strategy that put in place an approach for smart, sustainable and inclusive growththe mistake to overfocus on austerity policies thereby negatively affecting growth. This has led to an increase in unemployment and poverty levels. The European Investment Bank ('EIB') has also strengthened its role in instigating and promoting investment within the Union, partly by way of an increase in capital in January 2013. Further and complementary action is thus required to ensure that the investment needs of the Union are addressed and that the liquidity available on the market is used efficiently and channelled towards the funding of viable investment projects with a strong focus on their growth- and job-creation potential, and their benefit to society as a whole. It is important to consider however that "any" investment without targeting nor criteria can cause major damage and that what the EU needs is investment targeted to create added value for the EU citizens, reduce inequalities and is sustainable in economic, social and environmental terms.
Amendment 51 #
Proposal for a regulation
Recital 5
Recital 5
Amendment 53 #
Proposal for a regulation
Recital 6
Recital 6
Amendment 55 #
Proposal for a regulation
Recital 7
Recital 7
Amendment 58 #
Proposal for a regulation
Recital 8
Recital 8
(8) The EFSI isIf well-targeted and democratically governed the EFSI could become part of a comprehensive approach to address uncertainty surrounding public and private investments. The strategy has threeand the EFSI would need to extend beyond its three current pillars: mobilising finance for investment, making investment reach the real economy and improving the investment environment in the Union to deliver with as minimum: - a governance structure respecting basic democratic principles, - a system of checks and balances to ensure that investment triggered by EFSI does not cause damage to Union values nor create undesired negative effects, - the involvement of stakeholders and a right to veto investments not in compliance with the 2020 targets and the Art. 5 criteria, - a set of criteria so as to ensure that there is not "any" investment but investment to achieve the EU 2020 targets, bringing down unemployment and poverty and reducing the ecologic footprint.
Amendment 74 #
Proposal for a regulation
Recital 10
Recital 10
(10) The purpose of the EFSI should be to help resolve the difficulties in financing and implementing productive investments in the Union and to ensure increased access to financing with the overall aim of generating sustainable growth, and quality jobs and social inclusion. It is intended that increased access to financing should be of particular benefit to small, micro and medium enterprises and the social and solidarity economy. It is also appropriate to extend the benefit of such increased access to financing to mid- cap companies, which are companies having up to 30 of 1500 employees. Overcoming Europe's current investment difficulties should contribute to strengthening the Union's economic, social and territorial cohesion.
Amendment 87 #
Proposal for a regulation
Recital 11
Recital 11
(11) The EFSI should support strategic investments targeted to regions with high unemployment and poverty and with high economic and social value added contributing to achieving Union policy objectives especially regarding the employment, education and poverty reduction targets of the Europe 2020 strategy. No project may be funded which damages the EU2020 targets or negatively impacts on job creation or the environment.
Amendment 106 #
Proposal for a regulation
Recital 14
Recital 14
(14) The EFSI should target projects delivering high societal and economicEuropean added value. In particular, the EFSI should target projects that promote quality job creation, long- term inclusive growth and competitiveness and social inclusion. The EFSI should support a wide range of financial products, including equity, debt or guarantees, to best accommodate the needs of the individual project. This wide range of products should allow the EFSI to adapt to market needs whilst encouraging private investment in the projects. The EFSI should not be a substitute for private market finance but should instead catalyse private finance by addressing market failures so as to ensure the most effective and strategic use of public money. The requirement for consistency with State aid principles should contribute to such effective and strategic use.
Amendment 114 #
Proposal for a regulation
Recital 14 a (new)
Recital 14 a (new)
(14a) The impact of the EFSI on employment, education and poverty reduction should be systematically monitored and further encouraged, especially with a view to achieving prolonged societal gains in the form of sustainable and quality employment, and social inclusion. This should also secure a fair distribution of investment returns among investors and workers.
Amendment 115 #
Proposal for a regulation
Recital 14 a (new)
Recital 14 a (new)
(14a) In selecting investment projects, the EFSI should check that jobs which form part of these investment projects or are created by them provide a decent living.
Amendment 125 #
Proposal for a regulation
Recital 15
Recital 15
(15) The EFSI should target projects with a higher risk-return profile thanhere attracting private finance is more difficult than with existing EIB and Union instruments toas part of ensureing additionality over existing operations. The EFSI should finance projects across the Union, including particular in the countries most affected by the financial crisiswith high levels of unemployment or poverty. The EFSI should only be used where financing is not available from other sources on reasonable terms.
Amendment 132 #
Proposal for a regulation
Recital 16
Recital 16
(16) The EFSI should target investments that are expected to be socially, economically and technically viable and create an added value, which may entail a degree of appropriate risk, whilst still meeting the particular requirements for EFSI financing. It is therefore necessary to lay down clear principles, criteria and conditions for EFSI support.
Amendment 146 #
Proposal for a regulation
Recital 17
Recital 17
(17) DAll decisions on the use of the EFSI support for infrastructure and large mid- cap projects should be made by an Investment Committee. The Investment Committee should be composed of independent experts who are knowledgeable and experienced in the areas of investment projects with a proven experience in one of the 5 headline targets of the EU2020. The Investment Committee should organise a partnership with competent national, regional and local authorities, economic and social partners and relevant bodies representing civil society. The purpose of such a partnership is to ensure respect for the principle of subsidiarity and proportionality and to ensure the ownership of planned operations by stakeholders. The Investment Committee should be accountable to a Steering Board of the EFSI, who should supervise the fulfilment of the EFSI's objectives. To effectively benefit from the experience of the EIF, the EFSI should support funding to the EIF to allow the EIF to undertake individual projects in the areas of small and medium enterprises and small mid-cap companies.
Amendment 151 #
Proposal for a regulation
Recital 17 a (new)
Recital 17 a (new)
(17a) The Investment Committee experts should be approved by the European Parliament to improve democratic governance and accountability of the Investment committee.
Amendment 152 #
Proposal for a regulation
Recital 17 b (new)
Recital 17 b (new)
(17b) To deliver on the mandate of the new Commission at least one expert should be appointed to the Investment Committee who is a specialist in social policies. This should lead to the selection of projects that are consistent with the EU's social policy priorities, including the reduction of poverty and social exclusion.
Amendment 158 #
Proposal for a regulation
Recital 19
Recital 19
(19) In order to allow for further increase in its resources, participation in the EFSI should be open to third parties, including Member States, national promotional banks or public agencies owned or controlled by Member States, private sector entities and entities outside the Union subject to the consent of existing contributors. Third parties may contribute directly to the EFSI and take part in the EFSI governance structure.
Amendment 161 #
Proposal for a regulation
Recital 20 a (new)
Recital 20 a (new)
Amendment 176 #
Proposal for a regulation
Recital 26
Recital 26
(26) Alongside the financing operations that will be conducted through the EFSI, a European Investment Advisory Hub ('EIAH') should be created. The EIAH should provide strengthened support for project development and preparation across the Union, by building on the expertise of the Commission, the EIB, national promotional banks and the managing authorities of the European Structural and Investment Funds. This should establish a single point of entry for questions related to technical assistance for investments within the Union.
Amendment 183 #
Proposal for a regulation
Recital 29
Recital 29
Amendment 193 #
Proposal for a regulation
Recital 32
Recital 32
(32) Member States have also begun work at national leveland their national, regional and local authorities should work on establishing and promoting project pipelines for projects of nationalEuropean significance. The information prepared by the Commission and the EIB should provide links to the accompanying national project pipelines.
Amendment 202 #
Proposal for a regulation
Recital 35 a (new)
Recital 35 a (new)
(35a) In order to ensure uniform conditions for the implementation of this Regulation, implementing powers should be conferred to the Commission in respect of the model to be used when submitting information on investment projects and their contribution to achieving Union policy objectives. Those powers should be exercised in accordance with Regulation (EU) No 182/2011 of the European Parliament and of the Council.
Amendment 204 #
Proposal for a regulation
Article 1 – paragraph 1 – subparagraph 1
Article 1 – paragraph 1 – subparagraph 1
1. TBased on a mandate by the European Council and the European Parliament the Commission shallmay conclude an agreement with the European Investment Bank (EIB) on the establishment of a European Fund for Strategic Investments ('EFSI'). The agreement shall be transmitted to the European Parliament and the Council and shall be made public.
Amendment 205 #
Proposal for a regulation
Article 1 – paragraph 1 – subparagraph 2
Article 1 – paragraph 1 – subparagraph 2
The purpose of the EFSI shall be to support quality investments in the Union targeting regions with high unemployment and poverty rates and to ensure increased access to financing for companies having up to 301500 employees, with a particular focus on small, micro and medium enterprises as well as social and solidarity economy enterprises, through the supply of risk bearing capacity to the EIB ('EFSI Agreement'). Such investments are meant to kickstart economic activity in the long- term general interest of the EU with the aim of supporting the EUs 2020 targets, especially as regards employment, environment and social affairs. No investment which is detrimental to the aims as outlined in Part 1 of the TFEU or the achievement of the EU2020 targets may be funded by EFSI. The overall objective of the EFSI shall be to promote and guarantee sustainable, inclusive and long-term growth and quality job creation as well as social inclusion in the Union.
Amendment 215 #
Proposal for a regulation
Article 1 – paragraph 2
Article 1 – paragraph 2
2. The EFSI Agreement shall be open to accession by Member States. Subject to the consent of existing contributors, the EFSI Agreement shall also be open to accession by other third parties, including national promotional banks or public agencies owned or controlled by Member States, and private sector entiticontrolled by Member States.
Amendment 220 #
Proposal for a regulation
Article 2 – paragraph 1 – subparagraph 1 – point c a (new)
Article 2 – paragraph 1 – subparagraph 1 – point c a (new)
(ca) the conditions for the investment as outlined by the European Parliament and the Council in the mandate;
Amendment 221 #
Proposal for a regulation
Article 2 – paragraph 1 – subparagraph 1 – point d a (new)
Article 2 – paragraph 1 – subparagraph 1 – point d a (new)
(da) the methodology for determining geographic quota that adequately address the investment needs in those Member States with high rates of unemployment and poverty or most affected by the financial crisis;
Amendment 223 #
Proposal for a regulation
Article 2 – paragraph 2 – subparagraph 1
Article 2 – paragraph 2 – subparagraph 1
2. The EFSI Agreement shall provide for the creation of a European Investment Advisory Hub ('EIAH') within the EIB. The EIAH shall have as its objective to build upon existing EIB and Commission advisory services in order to provide advisory support for investment project identification, preparation and devetargeting of regions with high unemplopyment and act as a single technical advisory hub for project financing within the Unionidentify investments with high job creation potential, preparation and development. This shall include support on the use of technical assistance for project structuring, use of innovative financial instrugovernance on responsible investments, use of public-private partnerships and advice, as appropriate, on relevant issues of EU legislationinnovative financial instruments.
Amendment 227 #
Proposal for a regulation
Article 2 – paragraph 2 – subparagraph 2
Article 2 – paragraph 2 – subparagraph 2
To meet that objective, the EIAH shall regularly consult with stakeholders concerned by the investment as well as where appropriate use the expertise of the EIB, the Commission, national promotional banks and the managing authorities of the European Structural and Investment Funds.
Amendment 231 #
Proposal for a regulation
Article 2 – paragraph 3
Article 2 – paragraph 3
3. Member States that become parties to the EFSI Agreement shall be able to provide their contribution, in particular, in the form of cash or a guarantee acceptable to the EIB. Other third parties shall be able to provide their contribution only in cash. Financial contributions by Member States, including possible contributions to investment platforms, shall not be taken into account by the Commission when defining the fiscal adjustment under the preventive and corrective arm of the Stability and Growth Pact. In the event of an excess over the deficit reference value the Commission shall not launch an EDP. Similarly, no procedure shall be launched when assessing an excess over the debt reference value in the event that this is due solely to contributions to the EFSI.
Amendment 232 #
Proposal for a regulation
Article 2 a (new)
Article 2 a (new)
Article 2a Investment guidelines Investment guidelines 1. The EFSI shall provide support, through the implementation of operations of high European added-value, to contribute to achieving the objectives of the Union strategy for smart, sustainable and inclusive growth, as well as to the Treaty based objectives of strengthening economic, social and territorial cohesion and reducing regional disparities. The Commission and the EIB shall ensure that support from the EFSI is consistent with the relevant Union policies, horizontal principles referred to in paragraphs 2 and 3 of this Article and priorities of the Union, and that it is complementary to other instruments of the Union. Operations supported by the EFSI shall comply with applicable Union law and the national law relating to its application. The Commission and the EIB shall ensure the effectiveness of the EFSI during implementation, monitoring, reporting and evaluation. The use of appropriate indicators shall facilitate the identification of economic, social and environmental benefits achieved through EFSI support. EIB financing and investment operations supported by the EFSI shall be managed in accordance with EIB rules and procedures, including on horizontal and sector policies. All projects financed under the EFSI shall be covered under the policies and procedures of the EIB complaints mechanism and memorandum of understanding with the European Ombudsperson. 2. The Commission and the EIB shall ensure that equality between men and women and the integration of gender perspective are taken into account and promoted. They shall take appropriate steps to prevent any discrimination. In particular, accessibility for persons with disabilities shall be taken into account. 3. The objectives of the EFSI shall be pursued in line with the principle of sustainable development and with the Union's promotion of the aim of preserving, protecting and improving the quality of the environment, as set out in Article 11 and Article 191(1) TFEU, taking into account the polluter pays principle. The Commission and the EIB shall ensure support for the climate change objectives and devote 20% of the budget of the Union to those objectives.
Amendment 234 #
Proposal for a regulation
Article 3 – paragraph 1
Article 3 – paragraph 1
1. TWithin the specifications of the mandate by the European Parliament and the Council, the EFSI Agreement shall provide that the EFSI shall be governed by a Steering Board, which shall in accordance with Article 2a determine the strategic orientation, the investment criteria, the targeting, the strategic asset allocation and operating policies and procedures, including the investment policy of projects that EFSI can support and the risk profile of the EFSI, in conformity with the objectives under Article 5(2). The Steering Board shall elect one of its members to be Chairperson.
Amendment 239 #
Proposal for a regulation
Article 3 – paragraph 2 – subparagraph 1
Article 3 – paragraph 2 – subparagraph 1
2. For as long as the only contributors to the EFSI are the Union and the EIB, the number of members and votes within the Steering Board shall be allocated based on the respective size of contributions in the form of cash or guarantees. Steering Board members from the Commission shall include representatives with proven expertise in employment and social policies.
Amendment 241 #
Proposal for a regulation
Article 3 – paragraph 2 – subparagraph 1
Article 3 – paragraph 2 – subparagraph 1
2. For as long as the only contributors to the EFSI are the Union and the EIB, the number of members and votes within the Steering Board shall be allocated based on the respective size of contributions in the form of cash or guarantees. The members of the Steering board shall consist of 1/2 Union representatives, elected in Secret Ballot by the European Parliament and the Council, ¼ EIB and ¼ civil society representatives, with in particular representatives of European Platforms working on Social Affairs, Environment and Tax Justice, as well as Social Partners. Additionally to these quotas at least 1 representative of the Civil Society Platform shall be a member of the Steering board.
Amendment 247 #
Proposal for a regulation
Article 3 – paragraph 3 – subparagraph 1
Article 3 – paragraph 3 – subparagraph 1
3. When other parties accede to the EFSI Agreement in accordance with Article 1(2), the number of members and votes within the Steering Board shall be allocated based on the respective size of contributions from contributors in the form of cash or guarantees. The number of members and votes of the Commission and the EIB, according to paragraph 2, shall be recalculated accordingly but not exceed 20% of board members.
Amendment 251 #
Proposal for a regulation
Article 3 – paragraph 3 – subparagraph 3
Article 3 – paragraph 3 – subparagraph 3
No decision of the Steering Board shall be adopted if the Commission or the EIB or the civil society representatives votes against it.
Amendment 256 #
Proposal for a regulation
Article 3 – paragraph 4 – point 1 (new)
Article 3 – paragraph 4 – point 1 (new)
(1) The Steering Committee board members and the Managing Director have to be approved by the European Parliament and provide proof of absence of conflicts of interest.
Amendment 257 #
Proposal for a regulation
Article 3 – paragraph 5 – subparagraph 1
Article 3 – paragraph 5 – subparagraph 1
5. The EFSI Agreement shall provide that the EFSI shall have an Investment Committee, which shall be responsible for examining potential operations in line with the EFSI investment policies and approving the support of the EU guarantee for operations in line with Article 5, irrespective of their geographic location.
Amendment 261 #
Proposal for a regulation
Article 3 – paragraph 5 – subparagraph 2
Article 3 – paragraph 5 – subparagraph 2
The Investment Committee shall be composed of six independent experts and the Managing Director. Independent experts shall have to prove expertise relating to at least one of the five EU 2020 targets and have a high level of relevant market experience in project finance and. 2 experts shall be appointed by the Steering Board for a renewable fixed term of three years. 2 experts shall be appointed by the Civil Society Platform for better investment, 1 expert each by the European Parliament and the Council for a renewable fixed term of three years. The individual of the investment committee shall be approved by the European Parliament and the Council.
Amendment 262 #
Proposal for a regulation
Article 3 – paragraph 5 – subparagraph 2
Article 3 – paragraph 5 – subparagraph 2
The Investment Committee shall be composed of six independent experts and the Managing Director. Independent experts shall have a high level of relevant market experience in project finance and be appointed by the Steering Board for a renewable fixed term of three years. At least one specialist in social policies shall be appointed as one of the independent experts in the Investment Committee. This expert shall be responsible for assessing the social impact of submitted projects to ensure that those receiving support from the fund are supporting the social objectives of the EU and benefit society as a whole.
Amendment 267 #
Proposal for a regulation
Article 3 – paragraph 5 – subparagraph 2 a (new)
Article 3 – paragraph 5 – subparagraph 2 a (new)
All experts have to provide proof that they have no conflict of interest regarding investment operations.
Amendment 270 #
Proposal for a regulation
Article 3 – paragraph 5 – subparagraph 3 a (new)
Article 3 – paragraph 5 – subparagraph 3 a (new)
The Investment Committee shall organise a partnership with competent national, regional and local authorities, economic and social partners and relevant bodies representing civil society. These partners shall be involved in examining and approving operations for support of the EU guarantee.
Amendment 271 #
Proposal for a regulation
Article 3 – paragraph 5 a (new)
Article 3 – paragraph 5 a (new)
5a. Civil Society Platform for better investments The EFSI agreement shall provide that the EFSI shall have a Civil Society Platform for better investment, in charge of monitoring EFSI financing or investment operations. The Civil Society Platform shall mirror the structure of the Investment Committee. Members of the Platform are suggested to the European Parliament and the Council and approved by a vote. The Civil Society Platform may veto any operation providing it has reasonable doubts regarding the fulfilment of requirements and restrictions of Article 5, any operation where it suspects a conflict of interest of any member of the Steering Committee or the investment Committee.
Amendment 272 #
Proposal for a regulation
Article 3 – paragraph 5 a (new)
Article 3 – paragraph 5 a (new)
5a. Transparency Clause Any remuneration and benefits provided to members of the Steering board, the Investment Committee or the Civil Society Platform as well as the remuneration and benefits for the managerial level of the EFSI shall be disclosed in full in the quarterly reports. The gender balance needs to be outlined in the quarterly reports.
Amendment 273 #
Proposal for a regulation
Article 3 – paragraph 5 a (new)
Article 3 – paragraph 5 a (new)
5a. Gender Clause Directive (XXXX) of the European Parliament and of the Council on improving the gender balance among non-executive directors of companies listed on stock exchanges and related measures (2012/0299/COD) shall apply to any appointment, selection or recruitment procedure for EFSI bodies.
Amendment 275 #
Proposal for a regulation
Article 5 – paragraph 2 – subparagraph 1 – introductory part
Article 5 – paragraph 2 – subparagraph 1 – introductory part
2. The EU guarantee shall be granted for EIB financing and investment operations approved by the Investment Committee referred to in Article 3(5) or funding to the EIF in order to conduct EIB financing and investment operations in accordance with Article 7(2). TheAny operations concerned shall be consistent with Union policies and support anyt least one of the following general objectives and one of the EU2020 objectives:
Amendment 285 #
Proposal for a regulation
Article 5 – paragraph 2 – subparagraph 1 – point b
Article 5 – paragraph 2 – subparagraph 1 – point b
(b) investment in educationsocial policies including social protection, social services , social and solidarity economy education from an early age and training, health, research and development, information and communications technology and innovation;
Amendment 289 #
Proposal for a regulation
Article 5 – paragraph 2 – subparagraph 1 – point d
Article 5 – paragraph 2 – subparagraph 1 – point d
(d) infrastructure projects in the environmental, natural resources, urban development and, social fields and public services;
Amendment 293 #
Proposal for a regulation
Article 5 – paragraph 2 – subparagraph 1 – point e a (new)
Article 5 – paragraph 2 – subparagraph 1 – point e a (new)
(ea) investments in sectors with high job- creation potential, focusing on long-term and sustainable effects, including the social, health and care sectors as well as the social and solidarity economy.
Amendment 299 #
Proposal for a regulation
Article 5 – paragraph 2 – subparagraph 1 a (new)
Article 5 – paragraph 2 – subparagraph 1 a (new)
Any operation shall support at least one of the EU2020 objectives: 1. An increase in the employment rate aiming at 75% of the 20-64 year-olds to be employed 2. An increase in R&D / innovation investment aiming at 3% of the EU's GDP (public and private combined) to be invested in R&D/innovation 3. An improvement in Climate change / energy policies aiming at greenhouse gas emissions 20% (or even 30%, if the conditions are right) lower than 1990 , 20% of energy from renewables, 20% increase in energy efficiency 4. An improvement in the access to and stay in education by reducing school drop-out rates below 10%, at least 40% of 30-34–year-olds completing third level education 5. A reduction of Poverty / social exclusion by aiming at at least 20 million fewer people in or at risk of poverty and social exclusion
Amendment 301 #
Proposal for a regulation
Article 5 – paragraph 2 – subparagraph 2 a (new)
Article 5 – paragraph 2 – subparagraph 2 a (new)
In addition, EFSI shall request for any operation a forecast of its job creation potential. Operations without job creation potential shall need to provide proof for addressing at least two out of five EU2020 objectives.
Amendment 304 #
Proposal for a regulation
Article 5 – paragraph 2 – subparagraph 2 b (new)
Article 5 – paragraph 2 – subparagraph 2 b (new)
The EU guarantee shall not be granted for support of: a) the decommissioning or the construction of nuclear power stations; b) the exploitation and processing of fossil fuels; c) airport infrastructure. d) any project leading to relocation or loss of jobs; Support from the EU Guarantee shall not replace private market finance and public expenditure by a Member State for objectives referred to in the first sub- paragraph.
Amendment 305 #
Proposal for a regulation
Article 5 – paragraph 2 – subparagraph 2 c (new)
Article 5 – paragraph 2 – subparagraph 2 c (new)
The burden of proof for the fulfilment of the above-mentioned investment criteria is on the Investment Committee, which shall be obliged to respond publicly on requests relating to the requirements for the use of the EU guarantee.
Amendment 306 #
Proposal for a regulation
Article 5 – paragraph 2 – subparagraph 2 d (new)
Article 5 – paragraph 2 – subparagraph 2 d (new)
To guide the selection of projects that the EFSI can support, the Steering Board shall include social and equality preconditions in the strategic orientation, in the guidelines on the strategic asset allocation, and in the operating policies and procedures, including the investment policies.
Amendment 310 #
Proposal for a regulation
Article 5 – paragraph 4
Article 5 – paragraph 4
4. Provided that all relevant eligibility criteria are fulfilled, Member States may use European Structural and Investment Funds to contribute to the financing of eligible projects in which the EIB is investing with the support of the EU guarantee. An operation may receive support from the EU Guarantee and from other Union instruments, provided that an expenditure item does not receive support from more than one source.
Amendment 316 #
Proposal for a regulation
Article 9 – paragraph 1
Article 9 – paragraph 1
1. The Commission and the EIB, with support from the Member States,Based on the mandate by the European Parliament and the Council, the Steering Committee shall promote the creation of a fully transparent pipeline of current and potential future investment projects in the Union. Projects and operations for the pipeline can be suggested by any member of the Steering Committee as well as by the accompanying Civil Society Platform for better investments. The pipeline is without prejudice to the final projects selected for support according to Article 3(5).
Amendment 319 #
Proposal for a regulation
Article 9 – paragraph 2
Article 9 – paragraph 2
2. The Commission and the EIB shall develop, update and disseminate, on a regular and structured basis, all information available on current and future investments which significantly contribute to achieving EU policy objectives.
Amendment 323 #
Proposal for a regulation
Article 9 – paragraph 3
Article 9 – paragraph 3
3. Member States, regional and local authorities shall develop, update and disseminate, on a regular and structured basis, information on current and future investment projects in their territory. especially to stakeholders
Amendment 329 #
Proposal for a regulation
Article 10 – paragraph 2 – point a a (new)
Article 10 – paragraph 2 – point a a (new)
(aa) an assessment of the number, quality and sustainability of jobs created;
Amendment 330 #
Proposal for a regulation
Article 10 – paragraph 2 – point a b (new)
Article 10 – paragraph 2 – point a b (new)
(ab) an assessment on the European added-value and the contribution to achieving EU policy targets, in particular to the Union strategy for smart, sustainable and inclusive growth;
Amendment 334 #
Proposal for a regulation
Article 10 – paragraph 2 – point d
Article 10 – paragraph 2 – point d
(d) an assessment of the quality of EIB financing and investment operations and results achieved;
Amendment 336 #
Proposal for a regulation
Article 10 – paragraph 2 – point f
Article 10 – paragraph 2 – point f
(f) the financial statements of the EFSI. including a chapter on any remuneration and benefits provided to members of the Steering board, the Investment Committee or the Civil Society Platform as well as the remuneration and benefits for the managerial level of the EFSI;
Amendment 338 #
Proposal for a regulation
Article 10 – paragraph 2 – point f a (new)
Article 10 – paragraph 2 – point f a (new)
(fa) the gender balance in the Steering board, the Investment Committee, the Civil Society Platform and the EFSI management staff;
Amendment 340 #
Proposal for a regulation
Article 10 – paragraph 2 – point f b (new)
Article 10 – paragraph 2 – point f b (new)
(fb) an assessment of the contribution to the Union's social and equality objectives, in particular regarding quality job creation and the Europe 2020 Strategy targets for employment, education and poverty reduction.
Amendment 362 #
Proposal for a regulation
Article 16 – paragraph 1 a (new)
Article 16 – paragraph 1 a (new)
1a. In its financing and investment operations, the EIB shall not support any activities which impact negatively on or are detrimental to the EU 2020 targets. In particular the EIB shall not participate in any financing or investment operation which lead to a relocalisation or loss of jobs.
Amendment 363 #
Proposal for a regulation
Article 16 – paragraph 2 a (new)
Article 16 – paragraph 2 a (new)
2a. A social impact is precondition for any EFSI financing and investment operations; any proceeding with an operation in the absence of a social impact assessment will automatically trigger an intervention by the Civil Society Platform.