Activities of Barbara KAPPEL related to 2016/2064(INI)
Shadow reports (1)
REPORT on the implementation of the European Fund for Strategic Investments PDF (647 KB) DOC (149 KB)
Amendments (23)
Amendment 3 #
Motion for a resolution
Citation 12 a (new)
Citation 12 a (new)
– having regard of the Commission’s guidelines on complementarity of European Structural and Investment Funds and the European Fund for Strategic Investment;
Amendment 4 #
Motion for a resolution
Citation 12 b (new)
Citation 12 b (new)
– having regard of the double funding rule for combining means from the ESI Funds and EFSI;
Amendment 10 #
Draft opinion
Recital C
Recital C
C. whereas the EFSI iscould be a significant tool for contributing to economic, social and territorial cohesion as well as supporting job opportunities, namely by providing solid support to SMEs;
Amendment 13 #
Motion for a resolution
Paragraph 1
Paragraph 1
1. Takes note of the large investment gap in Europe, which the Commission estimates at a minimum of EUR 200-300 billion a year; , highlights in particular, against this backdrop, the market needs in Europe for high-risk financing, for instance in the fields of R&D, energy and ICT; is concerned by the fact that the most recent data on national accounts do not indicate any surge in investment since the European Fund for Strategic Investments (EFSI) was launched, leading to risks of continued subdued growth and continuing high unemployment rates; stresses that closing this investment gap is key to reviving growth, fighting unemployment and attaining long-term EU policy objectives;
Amendment 28 #
Draft opinion
Paragraph 4
Paragraph 4
Amendment 30 #
Draft opinion
Paragraph 5
Paragraph 5
5. Considers that in order to adequately respond to the investment demand and to better address the needs of countries and sectors, it is essential to conduct a preliminary analysis at national level into the causes of the market and investment gaps; including institutional and structural investment barriers.
Amendment 31 #
Motion for a resolution
Paragraph 2
Paragraph 2
2. Emphasises that EFSI was launched to help Member States to resolve difficulties and remove obstacles to financing as well as to implement strategic, transformative and productive investments that provide a high level of added value to the economy, the environment and society;
Amendment 33 #
Draft opinion
Paragraph 6
Paragraph 6
6. Highlights that it is crucialimportant to consider cross-border European added value in the implementation of the selected projects and whether they make an effective contribution to the existing EU common policy objectives;
Amendment 59 #
Motion for a resolution
Paragraph 4
Paragraph 4
4. Recalls that the purpose of EFSI is to ensure additionality by helping to address market failures orMember States to address suboptimal investment situations and supporting operations which could not have been carried out under existing Union financial instruments;
Amendment 66 #
Draft opinion
Paragraph 27 a (new)
Paragraph 27 a (new)
27 a. Stresses the importance of the double funding rule for combining means from the ESI Funds and EFSI and the Commission's guidelines on complementarity of European Structural and Investment Funds and the European Fund for Strategic Investment;
Amendment 69 #
Draft opinion
Paragraph 27 b (new)
Paragraph 27 b (new)
27 b. 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 pruposes; calls on the Commission to investigate and scrutinize possible ties between projects and politicians and political pressure groups;
Amendment 113 #
Motion for a resolution
Paragraph 9
Paragraph 9
9. Notes that, as provided for in the regulation, prior to a project being selected for EFSI support, it has to undergo due- diligence and decision-making processes both in the EIB and the EFSI governance structures; observes that project promoters have expressed a wish for swift feedback and enhanced transparency in relation to both the selection criteria and the amount and type/tranche of possible EFSI support; criticises the current lack of clarity, which deters project promoters from applying for EFSI support; calls for the decision-making process to be made more transparent in respect of the selection criteria and financial support and to be speeded upincrease time- effectiveness;
Amendment 155 #
Motion for a resolution
Paragraph 12
Paragraph 12
12. Acknowledges that it may take some years to prepare new innovative projects,; takes note that the EIB is under pressure to achieve the EUR 315 billion goal and therefore had no option butdecided to launch EFSI activities immediately, is concerned, however,; notes that the EIB, when implementing EFSI, has thus far drawn on its existing project pipeline with lower risk projects to a large extent, thereby reducing its own conventional financing; fears that EFSI does not provide complementary financing for high-risk innovative projects; underlines that even though a project qualifies as a special activity, this does not necessarily imply that it is risky, however the classification as a special activity might also stem from the fact that its financing has been structured in an artificially risky fashion, implying that very low-risk projects can also easily end up as high-risk projects;
Amendment 160 #
Motion for a resolution
Paragraph 13
Paragraph 13
13. Requests that the EIB provide an well-reasoned and comprehensive estimate of its potential annual lending capacity in the medium term, taking into account EFSI and possible regulatory developments and to continue its own lending at rates of EUR 70-75 billion a year, using profits, repayments from the programmes etc., and that it use EFSI as complementary tool; notes that this would mean the business volume of the EIB would reach at least EUR 90 billion, not EUR 75 billion in total;
Amendment 185 #
Motion for a resolution
Paragraph 16
Paragraph 16
Amendment 233 #
Motion for a resolution
Paragraph 20
Paragraph 20
20. Recalls that the IC experts are responsible for EFSI project selection, granting the EU guarantee and for approving operations with investment platforms and National Promotional Banks (NPBs) or institutions; recallstresses further that they are independent; considers that project selection is not transparent enough and that decisions have to be accounted for; stresses that the EIB should make improvements to the disclosure of information about the projects it approves under EFSI, with a proper justification of additionality and the scoreboard; is concerned about documented conflicts of interest on the part of IC members;
Amendment 260 #
Motion for a resolution
Paragraph 25
Paragraph 25
25. Urges the EFSI governing bodies to pay greater attention to investment platforms with a view to maximising the benefits that the latter can bring in overcoming investment barriers, especially in EU-13; invites the EIB to providebetter inform stakeholders with more information onabout these platforms;
Amendment 304 #
Motion for a resolution
Paragraph 31
Paragraph 31
31. Is pleased that the EIAH has been up and running since September 2015, moving through a quick implementation phase; acknowledges that, due to the limited period of its existence and a shortage of staff at the initial stage, not all EIAH services have been fully developed and that activity has predominantly focused on providing support for project development and structuring, policy advice, and project screening; notes however that the EIAH has already dealt with some 230 requests from 27 Member States and the EIPP has already published more than 100 investment projects since its launch on 1 June 2016;
Amendment 311 #
Motion for a resolution
Paragraph 36 a (new)
Paragraph 36 a (new)
36a. 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 prioritize on efficient and effective communication with promotors with a view to maximising the benefits that the latter can bring in overcoming investment barriers;
Amendment 346 #
Motion for a resolution
Paragraph 45
Paragraph 45
45. Notes that awareness of overlaps and competition between EFSI and financial instruments of the EU budget on the part of the Commission and the EIB has led to the adoption of guidelines recommending the combination of EFSI and ESI financing; points, however, to persistent differences in the eligibility criteria, regulations, timeframe for reporting and the application of state aid rules, which hinder combined usage; welcomes the fact that the Commission has begun to address these in its proposal for a revision of the Financial Regulation; believes that further efforts are required and that the second and third pillars of the investment plan are key to this end;
Amendment 348 #
Motion for a resolution
Paragraph 45 a (new)
Paragraph 45 a (new)
45a. 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 scrutinize possible ties between projects and politicians and political pressure groups;
Amendment 357 #
Motion for a resolution
Paragraph 46
Paragraph 46
46. Is deeply concerned that the EIB has been pushing via EFSI to support projects that have been structured using firms in tax havens; urges the EIB and the EIF to refrain from making use of or engaging in tax avoidance structures, in particular aggressive tax planning schemes, or practices which do not comply with EU good governance principles on taxation, as set out in the relevant Union legislation, including Commission recommendations and communications;
Amendment 384 #
Motion for a resolution
Paragraph 49
Paragraph 49
49. Acknowledges that EFSI alone - and on a limited scale- will probably not be able to close the investment gap in Europe, but that it nevertheless constitutes a central pillar of the EU’s investment plan and signals the EU’s determination to tackle this issue; calls for further proposals to be made on how to permanently boocreative a sustainable and robust investment climate in Europe;