5 Amendments of Tom VANDENKENDELAERE related to 2016/2064(INI)
Amendment 65 #
Motion for a resolution
Paragraph 5
Paragraph 5
5. Recalls that the projects supported by EFSI, while striving to create employment, sustainable growth, economic, territorial and social cohesion, are considered to provide additionality if they carry a risk corresponding to EIB special activities, as defined in Article 16 of the EIB Statute and by the credit risk policy guidelines of the EIB; stresses nonetheless that also operations classified as special activities should be subject to the additionality criteria set out in Art. 5(1) subparagraph 1 of the EFSI Regulation; underlines that EIB projects carrying a risk lower than the minimum risk under EIB special activities may also be supported by EFSI only if use of the EU guarantee is required to ensure additionality;
Amendment 78 #
Motion for a resolution
Paragraph 6
Paragraph 6
6. Notes that, while all projects approved under EFSI are presented as ‘special activities’, an independent evaluation has found that some projects could have been financed otherwise; urges the Investment Committee to clearly document its additionality assessments;
Amendment 152 #
Motion for a resolution
Paragraph 12
Paragraph 12
12. Acknowledges that it may take some years to prepare new innovative projects, that the EIB is under pressure to achieve the EUR 315 billion goal and therefore had no option but to launch EFSI activities immediately, is concerned, however, 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; urges the EIB to focus on genuinely high risk projects and limit the risk of crowding-out effects; 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 268 #
Motion for a resolution
Paragraph 27
Paragraph 27
27. Recalls that the EIB has developed new financial instruments for the purposes of EFSI in order to provide tailor-made products for high-risk financing; urges the EIB to increase its added value by focusing on riskier financial products like subordinated finance and capital market instruments; expresses concerns about project promoters’ criticisms that the financing instruments provided are not compatible with their projects´ needs (high-risk projects often need money upfront to kick-start investments, and not in smaller amounts on a year-by-year basis) and investors stressing that they are currently not in a position to participate in EFSI financing due to a lack of appropriate private equity instruments; invites the EIB to examine this in cooperation with project promoters and investors;
Amendment 363 #
Motion for a resolution
Paragraph 47
Paragraph 47
47. Observes that many project promoters are not aware of the existence of EFSI, or have an insufficiently clear picture of what EFSI can offer them and how to benefit from it, the specific eligibility criteria and the concrete steps to take when applying for financing; underlines that further efforts have to be made to raise awareness of what EFSI is, which specific products and services it has to offer and of the roles of investment platforms (IPs) and NPBs;