36 Amendments of Urmas PAET related to 2016/0281(COD)
Amendment 79 #
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') in particular poverty eradication and reducing inequality as well as the commitments under the recently revised European Neighbourhood Policy thus addressing root causes of migration. It should also contribute to the implementation of the Paris Agreement on Climate Change (COP 21). , and in particular incorporate climate proofing and climate resilience measures in all financing operations and investments.
Amendment 84 #
Proposal for a regulation
Recital 1 a (new)
Recital 1 a (new)
(1a) Investments under the EFSD should focus on supporting micro enterprises and SMEs from developing countries, in order to create decent, sustainable and inclusive jobs, offer economic opportunities for women and young people and engage in a just transition towards a green and circular economy.
Amendment 97 #
Proposal for a regulation
Recital 3
Recital 3
(3) This is in line with the Union Global Strategy for Foreign and Security Policy which embeds challenges such as migration and resilience in the overall EU foreign policy, ensuring coherence and synergies with European development and Neighbourhood policiesthe external policy is coherent with the objectives of the development policy and ensuring synergies with European development and Neighbourhood policies.. This is in line with the EU Charter of Fundamental Rights and international Human Rights law, ensuring human rights based approach while addressing forced displacement and irregular migration.
Amendment 104 #
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 member States, of the other part, signed in Cotonou on 23 June 200022 and the Neighbourhood countries, thereby creatingmaking sure not to increase debt risks or macroeconomic vulnerability, thereby supporting longer term development through green and inclusive growth and employment opportunities, maximising additionality, delivering innovative products, and crowding-in private sector funds. __________________ 22 OJ L 317, 15.12.2000 as last amended by OJ L 287, 4.11.2010
Amendment 111 #
Proposal for a regulation
Recital 4 a (new)
Recital 4 a (new)
(4a) In order to fulfil the political commitments of the EU on renewable energy, energy efficiency, and climate change mitigation and adaptation, a minimum share of 35% of the funding under the EFSD should be devoted to financing and investment operations wholly relevant for these sectors thus contributing to the implementation of the Paris Agreement on Climate Change.
Amendment 121 #
Proposal for a regulation
Recital 5 a (new)
Recital 5 a (new)
(5a) The EFSD in all its capacity will fully commit to and respect human rights and equal treatment in recipient countries and of all actors associated with financial and investment activities.
Amendment 127 #
Proposal for a regulation
Recital 6 a (new)
Recital 6 a (new)
(6a) The EFSD should deploy innovative instruments to support investments and involve the private sector in particular local micro-, small- and medium-sized enterprises, targeting areas which can help achieve sustainable development outcome. Bottlenecks and obstacles to domestic and foreign investments need to be addressed in this respect.
Amendment 131 #
Proposal for a regulation
Recital 8
Recital 8
(8) Moreover, the Strategic Board should support the Commission in setting strategic guidance and overall investment goals. The Strategic Board should also support coordination and coherence between the regional platforms. This should ensur, with core EU development goals, and with existing strategies and instruments in view of strengthening the complementarity of the various instruments in external action while ensuring policy coherence for development. The Strategic Board should be co-chaired by the Commission and the High Representative of the Union for Foreign Affairs and Security Policy to ensure consistency and coherence withof Union external policy objectives and partnership frameworks with third countries. The European Parliament shall participate in the Strategic Board as a permanent observer to ensure its right and obligation to exercise scrutiny over the implementation of the EFSD. The minutes of the strategic board shall be published as soon as they are approved by the strategic board.
Amendment 151 #
Proposal for a regulation
Recital 15
Recital 15
(15) As the funds of the EDF are to be used for the countries eligible under the 11th European Development Fund (EDF)25, it requires the allocation of a minimum of EUR 400 000 000 of EFSD Guarantee coverage for investments throughout the implementation period of the EFSD Guarantee. The EFSD Guarantee should only become available when EUR 400 000 000 of 11th EDF funds have been allocated to the EFSD Guarantee Fund. As the funds of EDF are to be used, the EFSD Guarantee should comprise investments in the areas from which the original funds had been diverted. Commitments to ensure EDF funding is ODA eligible as well as upcoming decisions to be made by the OECD DAC on private sector instruments are to be respected. __________________ 25 Internal Agreement between the Representatives of the Governments of the Member States of the European Union, meeting within the Council, on the financing of European Union aid under the multiannual financial framework for the period 2014 to 2020, in accordance with the ACP-EU Partnership Agreement and on the allocation of financial assistance for the Overseas Countries and Territories to which Part Four of the Treaty on the Functioning of the European Union applies (OJ L 210, 6.8.2013, p. 1).
Amendment 154 #
Proposal for a regulation
Recital 15 a (new)
Recital 15 a (new)
(15a) The European Parliament should act to ensure maximum capacity vis-à-vis decision making on loans financing and investment to ensure the credibility and scrutiny of the EFSD.
Amendment 155 #
Proposal for a regulation
Recital 15 b (new)
Recital 15 b (new)
(15b) Calls for maximum efficiency and effectiveness in financing and investments' management under the EFSD.
Amendment 156 #
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, and the plans for coming year, with a view to ensuring full accountability to the European citizens. The report should be made public in order to allow relevant stakeholders, including civil society, to express their views. All other documents relating to the fund should be made publicly available, with a limited regime of exceptions. 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 165 #
Proposal for a regulation
Recital 17
Recital 17
(17) In order to take into account lessons learned and allow for further evolvement of the EFSD, the functioning of the EFSD and the use of the EFSD Guarantee Fund should be evaluated by the Commission and subjected to an annual consultation process with relevant stakeholders, including civil society organizations. The application of this Regulation should be evaluated independently in order to assess the level of conformity of the implementation with the legal basis, but also to establish the applicability and practicability of the Regulation in the achievement of its objectives.
Amendment 168 #
Proposal for a regulation
Recital 19
Recital 19
(19) In order to contribute to the international fight against tax fraud, tax evasion, fraud, corruption and money- laundering, all financing through EFSD should be provided in a completely transparent manner. Furthermore the eligible counterparts should not support any activities carried out for illegal purposes and should notnor participate in any financing or investment operation through a vehicle located in a non-cooperative jurisdiction. or in tax haven. Counterparts shall also refrain from making any use of tax avoidance or aggressive tax planning schemes.
Amendment 172 #
Proposal for a regulation
Recital 20
Recital 20
Amendment 179 #
Proposal for a regulation
Article 2 – paragraph 1 – point 5
Article 2 – paragraph 1 – point 5
(5) 'additionality' means the principleevidence based operational approach ensuring that the EFSD Guarantee support contributes to sustainable development by achieving positive results above and beyond what could have been achieved without the support. It may not be aimed at replacing the support of a Member State, private funding or another Union financial intervention, as well as that it is aimed at addressing market failures and avoiding crowding out other public or private investments. It aims to bring development and value additionality as essential parts.
Amendment 189 #
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 and the implementation of the European Neighbourhood policy with a particular focus on sustainable growth, job creation, socio-economic sectors and on the support to micro, small and medium sized enterprises, thus addressing. The EFSD shall also contribute to the implementation of the Paris Climate Agreement by targeting investments to sectors that advance climate change mitigation and adaptation. The EFSD shall thus address root causes of migration and contributinge to sustainable reintegration of returned migrants in their countries of origin while maximising additionality, delivering innovative products and crowding in private sector funds.
Amendment 208 #
Proposal for a regulation
Article 5 – paragraph 1 – subparagraph 2 a (new)
Article 5 – paragraph 1 – subparagraph 2 a (new)
The strategic board shall support overall coordination, complementarity and coherence between the EFSD and existing strategies and instruments, national and geographic indicative programmes, the regional investment platforms, between the three pillars of the EIP and, between the EIP and the Union's efforts on the implementation of the Agenda 2030.
Amendment 215 #
Proposal for a regulation
Article 5 – paragraph 2
Article 5 – paragraph 2
2. The strategic board shall be composed of representatives of the Commission and of the High Representative of the Union for Foreign Affairs and Security Policy (High Representative), of the Member States and, of the EIB. The Commission may invite oth, and of partner countributors to become members of the strategic board having regard where appropriate to the view of the board. Partner Countries and res. The European Parliament shall participate in the strategic board as a permanent observer with the right to participate fully in its deliberations. Relevant regional organisations, othe eligibler counterpartsributors, and othe European Parliamentr stakeholders such as civil society groups may be given observer status, where appropriate. The strategic board shall be co-chaired by the Commission and the High Representative.
Amendment 220 #
Proposal for a regulation
Article 5 – paragraph 2 a (new)
Article 5 – paragraph 2 a (new)
2a. The minutes of the strategic board shall be published as soon as they are approved by the strategic board.
Amendment 221 #
Proposal for a regulation
Article 5 – paragraph 2 b (new)
Article 5 – paragraph 2 b (new)
2b. The strategic board should organize annual consultations of relevant stakeholders on the orientation and the implementation of the EFSD as well as the impact on the eradication of poverty and reduction of inequalities. This shall take the form of a civil society advisory board which will ensure that the environmental, social and human rights standards are adequately implemented and respected.
Amendment 229 #
Proposal for a regulation
Article 6 – paragraph 2 a (new)
Article 6 – paragraph 2 a (new)
2a. The Commission shall establish and make public a scoreboard of indicators covering all three dimensions of sustainable development to be used for the selection of the economically viable projects, to ensure an independent and transparent assessment of the potential and actual use of the EU guarantee.
Amendment 240 #
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, providing young people, and in particular women), thus addressing root causes of migration and contributing to sustainable reintegration of returned migrants in their countries of origiwith the right skills and decent job creation;
Amendment 243 #
Proposal for a regulation
Article 8 – paragraph 1 – point a a (new)
Article 8 – paragraph 1 – point a a (new)
(aa) achieve the Sustainable Development Goals of the 2030 Agenda with a specific focus on poverty eradication, reducing inequalities and domestic resource mobilisation;
Amendment 245 #
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 and renewable energy, water, transportwaste, low-carbon mobility, information and communications technologies, environment, sustainable use of natural resources and blue growth, social infrastructure, human capital, in order to improve the socio-economic environmenthuman capital,, with the objective of promoting an inclusive and sustainable socio-economic development that benefits all and leaves no one behind;
Amendment 256 #
Proposal for a regulation
Article 8 – paragraph 1 – point c
Article 8 – paragraph 1 – point c
(c) provide finance, including in local currency, and capacity development programmes in favour of micro-, small- and medium-sized enterprises with a particular focus on private and cooperative sector development in partner countries;
Amendment 272 #
Proposal for a regulation
Article 8 – paragraph 2 – point a
Article 8 – paragraph 2 – point a
(a) provide additionality; in particular, development additionality as defined in article 2;
Amendment 274 #
Proposal for a regulation
Article 8 – paragraph 2 – point a b (new)
Article 8 – paragraph 2 – point a b (new)
(ab) allocate at least 35% of the financing to investments with the principle objective of climate action.
Amendment 275 #
Proposal for a regulation
Article 8 – paragraph 2 – point b a (new)
Article 8 – paragraph 2 – point b a (new)
Amendment 277 #
Proposal for a regulation
Article 8 – paragraph 2 – point c a (new)
Article 8 – paragraph 2 – point c a (new)
(ca) respect the principles of development effectiveness including untied aid, democratic ownership, alignment and mutual accountability;
Amendment 298 #
Proposal for a regulation
Article 8 – paragraph 4
Article 8 – paragraph 4
4. The Commission mayshall define investment windows for specific regions or partner countries or for both, for specific sectors, for specific projects or for specific categories of final beneficiaries or for both to be funded by instruments referred to in Article 9 to be covered by the EFSD Guarantee up to a fixed amount. In addition, the EIB should provide a written opinion on banking-related matters to accompany each proposal for investment windows. All requests for financial support within investment windows shall be made to the Commission.
Amendment 322 #
Proposal for a regulation
Article 11 – paragraph 5 a (new)
Article 11 – paragraph 5 a (new)
5a. At least 100 000 000 shall be allocated for investments in the Eastern and Southern Neighbourhood partner countries and for this purpose the funds should be transferred from the Instrument for Pre-accession Assistance (IPA II), established by regulation (EU) No 231/2014;
Amendment 325 #
Proposal for a regulation
Article 12 – paragraph 2 a (new)
Article 12 – paragraph 2 a (new)
2a. The guarantee agreements shall be made publicly available, with a limited regime of exceptions.
Amendment 340 #
Proposal for a regulation
Article 13 – paragraph 4
Article 13 – paragraph 4
4. The management of the resources of the EFSD Guarantee Fund referred to in paragraph 2 shall be directly managed by the Commissionentrusted to the EIB under a mandate on behalf of the Union. These resources shall be managed and invested in accordance with the principle of sound financial management and shall follow appropriate prudential rules. On 30 June 2018 the Commission shall submit to the European Parliament and the Council a report evaluating the application of this paragraph which shall provide input for a possible amendment.
Amendment 348 #
Proposal for a regulation
Article 15 – paragraph 1 – point a
Article 15 – paragraph 1 – point a
(a) an assessment of the financing and investment operations in operation and covered by the EFSD Guarantee, sector, country and regional levels and their compliance with this Regulation, including the 35% climate change-related spending;
Amendment 350 #
Proposal for a regulation
Article 15 – paragraph 1 – point a a (new)
Article 15 – paragraph 1 – point a a (new)
(aa) an assessment of the overall contribution to the Sustainable Development Goals of the 2030 Agenda and the implementation of the Paris Agreement;