25 Amendments of Luigi MORGANO related to 2016/0276(COD)
Amendment 75 #
Proposal for a regulation
Recital 2 a (new)
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 108 #
Proposal for a regulation
Recital 8
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 countryline with the EU's commitment to the global fight against climate change, operations supported by the EFSI should contribute, as much as possible, to achieving the objectives of COP21. In order to reinforce the climate action element under the EFSI, the EIB should build on its experience as one of the largest providers of climate finance worldwide and use its internationally agreed methodology to credibly identify climate action components or cost shares. Energy interconnection priority projects and energy efficiency projects should also be increasingly targeted. For reasons of clarity, although they are already eligible, it should be explicitly laid down that projects in the fields of agriculture, forestry, fishery and aquaculture and other elements of a wider bioeconomy come within the general objectives eligible for EFSI support.
Amendment 123 #
Proposal for a regulation
Recital 8 a (new)
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 138 #
Proposal for a regulation
Recital 9
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 142 #
Proposal for a regulation
Recital 9 a (new)
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 149 #
Proposal for a regulation
Recital 10
Recital 10
(10) Due to their potentialWith a view to ensuring a wider geographical coverage of EFSI and to increaseing 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 such as national promotional banks and institutions, 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.
Amendment 156 #
Proposal for a regulation
Recital 10 a (new)
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 162 #
Proposal for a regulation
Recital 11
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 206 #
Proposal for a regulation
Recital 17 a (new)
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 220 #
Proposal for a regulation
Recital 21
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 tocontributing actively where possible towards sectorial and geographic diversification of the EFSI and 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 projectsEIB where needed in originating projects. In Member States with difficulties in developing projects in particular under the EFSI, the EIAH should establish a local presence. In order to ensure a broad coverage, EIAH should aim to conclude at least one cooperation agreement with a national promotional bank or institution per Member State. These objectives should be complementary and not preclude one another. Furthermore, EIAH should pay particular attention to supporting the preparation of projects involving two or more Member States or regions and projects that contribute to achieving the objectives of COP21. 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. In carrying out its work, the EIAH should continue to ensure complementarity of its services.
Amendment 273 #
Proposal for a regulation
Article 1 – paragraph 1 – point 2
Article 1 – paragraph 1 – point 2
Regulation (EU) No 2015/1017
Article 5 – paragraph 1 – subparagraph 3
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 typicallyas a general rule have the features such as of subordination, participation in risk-sharing instruments, cross-border characteristics, exposure to specific risks or other identifiable aspects, as further described in Annex IInd possibly take a junior position vis-à-vis other investors, in order to ensure additionality.
Amendment 281 #
Proposal for a regulation
Article 1 – paragraph 1 – point 2
Article 1 – paragraph 1 – point 2
Regulation (EU) No 2015/1017
Article 5 – paragraph 1 – subparagraph 5
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, including e- infrastructure, as well as the extension of physical infrastructure orand services linked to physical infrastructure from one Member State to one or more Member States, shallassociated with such infrastructures, shall as a rule also be considered to provide additionality.
Amendment 286 #
Proposal for a regulation
Article 1 – paragraph 1 – point 2
Article 1 – paragraph 1 – point 2
Regulation (EU) No 2015/1017
Article 5 – paragraph 1 – subparagraph 5
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 325 #
Proposal for a regulation
Article 1 – paragraph 1 – point 4 – point a – point ii
Article 1 – paragraph 1 – point 4 – point a – point ii
Regulation (EU) No 2015/1017
Article 7 – paragraph 8 – point l
Article 7 – paragraph 8 – point l
(l) agriculture, forestry, fishery and, aquaculture. and other elements of the wider bioeconomy;
Amendment 367 #
Proposal for a regulation
Article 1 – paragraph 1 – point 5 – point b
Article 1 – paragraph 1 – point 5 – point b
Regulation (EU) No 2015/1017
Article 9 – paragraph 2 – subparagraph 1 a
Article 9 – paragraph 2 – subparagraph 1 a
Amendment 375 #
Proposal for a regulation
Article 1 – paragraph 1 – point 5 – point b a (new)
Article 1 – paragraph 1 – point 5 – point b a (new)
Regulation (EU) No 2015/1017
Article 9 – paragraph 2 – subparagraph 1 b (new)
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)
Article 1 – paragraph 1 – point 5 – point b c (new)
Regulation (EU) No 2015/1017
Article 9 – paragraph 2 – subparagraph 1 d (new)
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 385 #
Proposal for a regulation
Article 1 – paragraph 1 – point 5 – point d a (new)
Article 1 – paragraph 1 – point 5 – point d a (new)
Regulation (EU) No 2015/1017
Article 9 – paragraph 4 a (new)
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 387 #
Proposal for a regulation
Article 1 – paragraph 1 – point 5 – point d a (new)
Article 1 – paragraph 1 – point 5 – point d a (new)
Regulation (EU) No 2015/1017
Article 9 – paragraph 7 – subparagraph 2
Article 9 – paragraph 7 – subparagraph 2
Amendment 405 #
Proposal for a regulation
Article 1 – paragraph 1 – point 9 – point a – point i
Article 1 – paragraph 1 – point 9 – point a – point i
Regulation (EU) No 2015/1017
Article 14 – paragraph 1 – subparagraph 1 – second sentence
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, with a special focus on SMEs, 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- developed financial markets.
Amendment 426 #
Proposal for a regulation
Article 1 – paragraph 1 – point 9 – point b – point ii
Article 1 – paragraph 1 – point 9 – point b – point ii
Regulation (EU) No 2015/1017
Article 14 – paragraph 2 – point e
Article 14 – paragraph 2 – point e
(e) providing pro-active advisory support on the establishment of investment platforms;
Amendment 436 #
Proposal for a regulation
Article 1 – paragraph 1 – point 9 – point d
Article 1 – paragraph 1 – point 9 – point d
Regulation (EU) No 2015/1017
Article 14 – paragraph 6 – second sentence
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 financingal 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 should aim to conclude at least one cooperation agreement with a national promotional bank or institution in each Member State. In Member States where such institutions do not exist, the EIAH may provide, where appropriate, pro- active advisory support on their establishment; To foster the take up of its services, the EIAH and its partners should promote, in a simple and clear way, the services and expertise that they could mobilise in order to better assist project promoters from the private sector, in particular SMEs and Mid-Caps.
Amendment 453 #
Proposal for a regulation
Article 1 – paragraph 1 – point 10 – point a a (new)
Article 1 – paragraph 1 – point 10 – point a a (new)
Regulation (EU) No 2015/1017
Article 18 – paragraph 6 a (new)
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 462 #
Proposal for a regulation
Article 1 – paragraph 1 – point 12
Article 1 – paragraph 1 – point 12
Regulation 2015/1017
Article 22 – paragraph 1 – subparagraph 2
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, andutomatic exchange of information or internationally agreed rules on anti-money laundering or fight against terrorism financing.
Amendment 481 #
Proposal for a regulation
Annex II – point 1 – point a
Annex II – point 1 – point a
Regulation (EU) No 2015/1017
Annex II – section 2 – point b – subparagraph 1 a (new)
Annex II – section 2 – point b – subparagraph 1 a (new)