20 Amendments of Luke Ming FLANAGAN related to 2016/0281(COD)
Amendment 32 #
Proposal for a regulation
Recital 1
Recital 1
(1) The Union's ambitious External Investment Plan (EIP) is needed to support investments starting in Africa and the Union's Neighbourhood as a means to promote the sustainable development goals of the United Nations 2030 Agenda for Sustainable Development ('the 2030 Agenda'), as well as the commitments under the recently revised European Neighbourhood Policy, thus addressing one of the main root causes of migration. It should also contribute to the implementation of the Paris Agreement on Climate Change (COP 21).
Amendment 34 #
Proposal for a regulation
Recital 2
Recital 2
(2) The EIP should incorporate the Union commitment under the Addis Ababa Action Agenda on Financing for Development. It should also allow European investors and private companies, including small and medium-sized enterprises, to participate more effectively to sustainable development in partner countries, with the emphasis very much on 'sustainable'.
Amendment 37 #
Proposal for a regulation
Recital 4
Recital 4
(4) The EIP should provide an integrated financial package to finance investments starting in regions of Africa for countries that are signatories to the Partnership Agreement between the members of the African, Caribbean and Pacific Group of States of the one part, and the European Community and its mMember States, of the other part, signed in Cotonou on 23 June 200022 and the Neighbourhood countries,; thereby creatingis should provide additional growth and employment opportunities, maximisinge additionality, and help delivering innovative products, and crowding-inby encouraging the use of additional private -sector funds. _________________ 22 OJ L 317, 15.12.2000 as last amended by OJ L 287, 4.11.2010
Amendment 44 #
Proposal for a regulation
Recital 10
Recital 10
(10) In order to: (a) provide for flexibility,; (b) increase the attractiveness for the private sector and; (c) maximise the impact of the investments; it is appropriate to provide for a derogation from Article 58(1)(c)(vii) of Regulation (EU) No 966/2012 of the European Parliament and the Council24 by which the eligible counterparts who are bodies governed by private law could also be bodies which are not entrusted with the implementation of a public-private partnership and could also be bodies governed by the private law of a partner country. _________________ 24 Regulation (EU, Euratom) No 966/2012 of the European Parliament and the Council of 25 October 2012 on the financial rules applicable to the general budget of the Union and repealing Council Regulation (EC, Euratom) No 1605/2002 (OJ L 298, 26.10.2012, p. 1).
Amendment 49 #
Proposal for a regulation
Recital 16
Recital 16
(16) The Commission should report annually to the European Parliament and the Council on the financing and investment operations covered by the EFSD Guarantee with a view to ensuring accountability to the EuropeanEU citizens. The report should be made public in order to allow relevant stakeholders, including civil society, to express their views. The Commission should also report annually to the European Parliament and the Council on the management of the EFSD Guarantee Fund so that accountability and transparency are ensured.
Amendment 51 #
Proposal for a regulation
Recital 19
Recital 19
(19) In order to contribute to the international fight against tax fraud, tax evasion and money-laundering, the eligible counterparts shouldmust not support any activities carried out for illegal purposes and shouldmust not participate in any financing or investment operation through a vehicle located in a non-cooperative jurisdiction.
Amendment 52 #
Proposal for a regulation
Article 3 – paragraph 1
Article 3 – paragraph 1
1. The purpose of the EFSD as an integrated financial package shall be to support investments and increased access to financing, starting in African and Neighbourhood partner countries, through the supply of financing capacity in the form of grants, guarantees and other financial instruments to eligible couenterparts investments and increased access to financing starting in African and Neighbourhood partner countrises.
Amendment 55 #
Proposal for a regulation
Article 3 – paragraph 2
Article 3 – paragraph 2
2. The EFSD shall contribute to the achievement of the Sustainable Development Goals of the 2030 Agenda with a particulathe major focus on sustainable growth, job creation, socio-economic sectors and on the support to micro, small and medium sized enterprises, thus addressing root causes of migration and contributing to sustainable reintegration of returned migrants in their countries of origin while maximising additionality, delivering innovative products and crowding in private sector funds.
Amendment 57 #
Proposal for a regulation
Article 5 – paragraph 1 – subparagraph 2
Article 5 – paragraph 1 – subparagraph 2
Amendment 58 #
Proposal for a regulation
Article 6 – paragraph 1
Article 6 – paragraph 1
1. The Union shall, after careful consideration of the viability of the project, provide an irrevocable and unconditional guarantee on first demand to the eligible counterpart for the financing and investment operations covered by this Regulation starting in the African and Neighbourhood partner countries.
Amendment 61 #
Proposal for a regulation
Article 8 – paragraph 1 – introductory part
Article 8 – paragraph 1 – introductory part
1. The financing and investment operations eligible for support through the EFSD Guarantee shall be consistent and aligned with Union policies, (in particular development and neighbourhood policies of the Union,) and with the partner countries' strategies and policies, and shall aim at supporting the following general objectives:
Amendment 64 #
Proposal for a regulation
Article 8 – paragraph 1 – point a
Article 8 – paragraph 1 – point a
(a) contribute to economic and social development, with particular focus on sustainability and job creation (in particular for youth and women), thus addressing one of the root causes of migration andwhile contributing to sustainable reintegration of returned migrants in their countries of origin;
Amendment 67 #
Proposal for a regulation
Article 8 – paragraph 1 – point b
Article 8 – paragraph 1 – point b
(b) target socio-economic sectors, in particular infrastructure, including: sustainable energy,: water,; transport,; information and communications technologies,; the environment,; sustainable use of natural resources and blue growth,; social infrastructure,; human capital,; in order to improve the socio-economic environment;
Amendment 72 #
Proposal for a regulation
Article 8 – paragraph 2 – introductory part
Article 8 – paragraph 2 – introductory part
2. TWhile guarding against profiteering and/or monopolisation of services, the EFSD Guarantee shall support financing and investment operations which in particular:
Amendment 75 #
Proposal for a regulation
Article 13 – paragraph 7
Article 13 – paragraph 7
7. From 1 January 2021, if, as a result of calls on the EFSD Guarantee, the level of resources in the Guarantee Fund falls below 50% of the provisioning rate referred to in paragraph 5, the Commission shall submit a report on a) the cause of the shortfall, with detailed explanations, and b) should it be deemed necessary, any exceptional measures that may be required to replenish the EFSD Guarantee Fund.
Amendment 80 #
Proposal for a regulation
Article 15 – paragraph 3 – subparagraph 1
Article 15 – paragraph 3 – subparagraph 1
By 31 March of each year, in the context of its financial statements of, the Commission shall submit to the European Parliament, to the Council and to the Court of Auditors, in the context of the financial statements of the Commission, the required information on the situation of the EFSD Guarantee Fund. In addition, it shall, by 31 May of each year, it shall submit to the European Parliament, to the Council and to the Court of Auditors an annual report on the management of the EFSD Guarantee Fund in the previous calendar year, including an assessment of the adequacy of the provisioning and the level of the Guarantee Fund and - if necessary - of the need for its replenishment.
Amendment 81 #
Proposal for a regulation
Article 16 – paragraph 2
Article 16 – paragraph 2
2. By 31 December 2020 and every three years thereafter (subject to revision, if necessary), the Commission shall evaluate the use of the EFSD Guarantee Fund. The Commission shall submit its evaluation report to the European Parliament and the Council. That evaluation report shall be accompanied by an opinion of the Court of Auditors.
Amendment 83 #
Proposal for a regulation
Article 19 – paragraph 1
Article 19 – paragraph 1
Amendment 84 #
Proposal for a regulation
Article 19 – paragraph 2 – subparagraph 2
Article 19 – paragraph 2 – subparagraph 2
Where such illegal activities are proven, the eligible counterparts shall undertake recovery efforts with respect to its financing and investment operations covered by this Regulation that are concerned by such activities., and shall also provide to the relevant authorities all information needed for investigation and possible prosecution;
Amendment 86 #
Proposal for a regulation
Article 20 – paragraph 1
Article 20 – paragraph 1
1. In their financing and investment operations, the eligible counterparts shall not support any activities carried out for illegal purposes, including (but not limited to) money laundering, terrorist financing, organised crime, tax fraud and tax evasion, corruption, and fraud affecting the financial interests of the Union. The eligible counterparts shall not participate in any financing or investment operation through a vehicle located in a non- cooperative jurisdiction, in accordance with its policy towards weakly regulated or non-cooperative jurisdictions based on policies of the Union, the Organisation for Economic Co-operation and Development or the Financial Action Task Force.