10 Amendments of Siegfried MUREŞAN related to 2018/0243(COD)
Amendment 60 #
Proposal for a regulation
Recital 35 a (new)
Recital 35 a (new)
(35 a) The External Lending Mandate Plus (ELM+) is established as a budgetary guarantee managed indirectly by the EIB, providing commercial and political risk cover for financially sustainable projects in the public sector and political risk cover for financially sustainable projects in the private sector, each worldwide outside the Union. The support of the ELM+ shall not be extended to sovereign investment operations that involve on- lending to the private sector or lending to, or for the benefit of, sub-sovereign entities that can access sub-sovereign financing without sovereign guarantees.
Amendment 61 #
Proposal for a regulation
Recital 35 b (new)
Recital 35 b (new)
(35 b) The EIB shall indirectly manage and implement the ELM+, provide all strategic banking and risk management competences required by the Commission, including those related to the operational management of the EFSD+ guarantee, provide a writing opinion on banking related matters to accompany each Commission proposal for investment windows under the EFSD+ guarantee, be an eligible counterpart for managing and implementing activities under EFSD+ and shall take any other role of the EIB as part of the implementation of the External Investment Framework in line with the Statute of the relevant EIB entity and role under the Treaty.
Amendment 62 #
Proposal for a regulation
Recital 36
Recital 36
(36) An External Action Guarantee should be established building on the existing EFSD Guarantee, the External Lending Mandate and the Guarantee Fund for external actions. The External Action Guarantee should support the EFSD+ and ELM+ operations covered by budgetary guarantees, macro-financial assistance and loans to third countries on the basis of Council Decision 77/270/Euratom71 . These operations should be supported by appropriations under this Regulation, together with those under Regulation (EU) No …/… (IPA III) and Regulation (EU) No …/… (EINS), which should also cover the provisioning and liabilities arising from macro-financial assistance loans and loans to third countries referred to in Article 10(2) of Regulation EINS, respectively. When funding EFSD+ operations, priority should be given to those which have a high impact on job creation and whose cost- benefit ratio enhances the sustainability of investment. The operations supported with the External Action Guarantee should be accompanied by an in-depth ex ante assessment of environmental, financial and social aspects, as appropriate and in line with the better regulation requirements. The External Action Guarantee should not be used to provide essential public services, which remains a government responsibility. _________________ 71 Council decision 77/270/EURATOM of 29 March 1977 empowering the Commission to issue Euratom loans for the purpose of contributing to the financing of nuclear power stations (OJ L 88, 6.4.1977, p. 9).
Amendment 63 #
Proposal for a regulation
Article 1 – paragraph 3
Article 1 – paragraph 3
It also establishes the European Fund for Sustainable Development Plus (the ‘EFSD+’), the External Lending Mandate Plus (ELM+) and an External Action Guarantee.
Amendment 67 #
Proposal for a regulation
Article 25 – paragraph 4 a (new)
Article 25 – paragraph 4 a (new)
4 a. By way of further derogation from Article 209(3) of the Financial Regulation, repayments and revenues generated by investments under the existing endowments of the ACP Investment Facility shall be considered as revolving assets intended for investment in the sectors and regions covered by the ACP Investment Facility and shall continue to be managed by the EIB. If at any point the Commission or the Council propose for all such assets and liabilities to be transferred to the Union in accordance with Article 25 of the Financial Regulation, the legislative acts concerning the future functioning of the ACP Investment Facility shall be prepared in close dialogue with the EIB, in particular taking into account the ElB's contractual obligations to lend that might be existing at that time.
Amendment 72 #
Proposal for a regulation
Article 26 – paragraph 1 – subparagraph 1
Article 26 – paragraph 1 – subparagraph 1
The financial envelope referred to in Article (6)(2)(a) shall finance the European Fund for Sustainable Development Plus (EFSD+)EFSD+, ELM+ and the External Action Guarantee.
Amendment 73 #
Proposal for a regulation
Article 26 – paragraph 1 – subparagraph 2
Article 26 – paragraph 1 – subparagraph 2
The purpose of the EFSD+ as an integrated financial package supplying financial capacity drawing on the methods of implementation set up in Article 23(1)(a), (e), (f) and (g), shall be to support investments and increase access to financing, in order to foster sustainable and inclusive economic and social development and promote the socio-economic resilience in partner countries with a particular focus on the, eradication of poverty, sustainable and inclusive growth, the creation of decent jobs, economic opportunities, skills and entrepreneurship, socioeconomic sectors, micro, small and medium-sized enterprises as well as addressing specific socioeconomic root causes of irregular migration, in accordance with the relevant indicative programming documents. Special attention shall be given to countries identified as experiencing fragility or conflict, Least Developed Countries and heavily indebted poor countries. The ELM+ is established as a budgetary guarantee managed indirectly by the EIB, providing commercial and political risk cover for financially sustainable projects in the public sector and political risk cover for financially sustainable projects in the private sector, each worldwide outside the Union. The support of the ELM+ shall not be extended to sovereign investment operations that involve on- lending to the private sector or lending to, or for the benefit of, sub-sovereign entities that can access sub-sovereign financing without sovereign guarantees.
Amendment 76 #
Proposal for a regulation
Article 26 – paragraph 4 – subparagraph 1
Article 26 – paragraph 4 – subparagraph 1
The provisioning rate shall range between 9% and 50% depending on the type of operations. A maximum amount of EUR 10 billion shall be provisioned from the EU budget through a specific budget line in the framework of the annual budgetary procedure or through a budget transfer. Within this envelope of EUR 10 billion, the Union shall grant the EIB a budgetary guarantee of EUR 5 billion to be utilised in accordance with Article 26(1). The guarantees can cover up to 50% of the total financing amount of the project.
Amendment 77 #
Proposal for a regulation
Article 26 – paragraph 6
Article 26 – paragraph 6
6. The EFSD+, the ELM+ and the External Action Guarantee may support financing and investment operations in partner countries in the geographical areas referred to in Article 4(2). The provisioning of the External Action Guarantee shall be financed from the budget of the relevant geographic programmes established by Article 6(2)(a) and shall be transferred into the common provisioning fund. The EFSD+ and the External Action Guarantee may also support operations in beneficiaries listed in Annex I of Regulation IPA III. The funding for these operations under the EFSD+ and for the provisioning of the External Action Guarantee shall be financed from the Regulation IPA. The provisioning of the External Action Guarantee for loans to third countries referred to in Article 10 (2) of Regulation EINS shall be financed from Regulation EINS.
Amendment 79 #
Proposal for a regulation
Article 26 a (new)
Article 26 a (new)
Article 26 a The EIB shall, under chapter IV of this regulation, Inter alia: a. indirectly manage and implement the ELM+; b. provide all strategic banking and risk management competences required by the Commission, including those related to the operational management of the EFSD+ guarantee, c. provide a written opinion on banking related matters to accompany each Commission proposal for investment windows under the EFSD+ guarantee; d. be an eligible counterpart for managing and implementing activities under EFSD+. Notwithstanding the above, the Commission and the EIB may agree on any other role of the EIB as part of the implementation of the External Investment Framework in line with the Statute of the relevant EIB entity and role under the Treaty.