13 Amendments of Emilian PAVEL related to 2015/0009(COD)
Amendment 47 #
Proposal for a regulation
Recital 4
Recital 4
(4) Throughout the economic and financial crisis, the Union has made efforts to promote growth, in particular through initiatives set out in the Europe 2020 strategy that put in place an approach for smart, sustainable and inclusive growth. The European Investment Bank ('EIB') has also strengthened its role in instigating and promoting investment within the Union, partly by way of an increase in capital in January 2013. Further action is required to ensure that the investment needs of the Union are addressed and that the liquidity available on the market is used efficiently and channelled towards the funding of viable investment projects, with a strong focus on their growth and quality job- creation, and their benefit to society as a whole.
Amendment 73 #
Proposal for a regulation
Recital 10
Recital 10
(10) The purpose of the EFSI should be to help resolve the difficulties in financing and implementing productive investments in the Union and to ensure increased access to financing with the aim of generating growth, quality jobs and social inclusion. It is intended that increased access to financing should be of particular benefit to small and medium enterprises and including social economy and social enterprises. It is also appropriate to extend the benefit of such increased access to financing to mid- cap companies, which are companies having up to 3000 employees. Overcoming Europe's current investment difficulties should contribute to strengthening the Union's economic, social and territorial cohesion.
Amendment 86 #
Proposal for a regulation
Recital 11
Recital 11
(11) The EFSI should support strategic investments with high economic and social value added and job creation potential contributing to achieving Union policy objectives, especially regarding the employment, education and poverty reduction targets of the Europe 2020 Strategy.
Amendment 108 #
Proposal for a regulation
Recital 14
Recital 14
(14) The EFSI should target projects delivering high societal and economic value. In particular, the EFSI should target projects that promote quality job creation, long- term growth and, competitiveness and social inclusion. The EFSI should support a wide range of financial products, including equity, debt or guarantees, to best accommodate the needs of the individual project. This wide range of products should allow the EFSI to adapt to market needs whilst encouraging private investment in the projects. The EFSI should not be a substitute for private market finance but should instead catalyse private finance by addressing market failures so as to ensure the most effective and strategic use of public money. The requirement for consistency with State aid principles should contribute to such effective and strategic use.
Amendment 113 #
Proposal for a regulation
Recital 14 a (new)
Recital 14 a (new)
(14a) The impact of the EFSI on employment education and poverty reduction should be systematically monitored and further encouraged, especially with the view to achieving prolonged societal gains in the form of sustainable and quality employment, and social inclusion. This should also secure fair distribution of investment returns among investors and workers.
Amendment 206 #
Proposal for a regulation
Article 1 – paragraph 1 – subparagraph 2
Article 1 – paragraph 1 – subparagraph 2
The purpose of the EFSI shall be to support public and private investments in the Union and to ensure increased access to financing for companies, social economy enterprises and service providers having up to 3000 employees, with a particular focus on small and medium enterprises, through the supply of risk bearing capacity to the EIB ('EFSI Agreement'). The overall objective of the EFSI shall be to promote and guarantee sustainable, inclusive and long-term growth and quality job creation as well as social inclusion in the Union.
Amendment 244 #
Proposal for a regulation
Article 3 – paragraph 2 – subparagraph 1 a (new)
Article 3 – paragraph 2 – subparagraph 1 a (new)
Steering Board members from the Commission shall include representatives with proven expertise in employment and social policies.
Amendment 268 #
Proposal for a regulation
Article 3 – paragraph 5 – subparagraph 2 a (new)
Article 3 – paragraph 5 – subparagraph 2 a (new)
A specialist in employment and social policies shall be appointed as one of the independent experts in the Investment Committee. This expert shall be responsible for assessing the employment and social impact of submitted projects to ensure that those receiving support from the fund are supporting the social objectives of the EU and benefit society as a whole.
Amendment 276 #
Proposal for a regulation
Article 5 – paragraph 2 – subparagraph 1 – introductory part
Article 5 – paragraph 2 – subparagraph 1 – introductory part
2. The EU guarantee shall be granted for EIB financing and investment operations approved by the Investment Committee referred to in Article 3(5) or funding to the EIF in order to conduct EIB financing and investment operations in accordance with Article 7(2). The operations concerned shall be consistent with Union policies, contribute to achieving the objectives of Europe 2020 Strategy and support any of the following general objectives:
Amendment 286 #
Proposal for a regulation
Article 5 – paragraph 2 – subparagraph 1 – point b
Article 5 – paragraph 2 – subparagraph 1 – point b
(b) investment in education and training, health, research and development, information and communications technology and innovation, innovation, social services, social economy and social enterprises;
Amendment 294 #
Proposal for a regulation
Article 5 – paragraph 2 – subparagraph 1 – point e a (new)
Article 5 – paragraph 2 – subparagraph 1 – point e a (new)
(ea) investments in sectors with high job- creation potential, focusing on long-term and sustainable effects, including the social, health and care sectors as well as the social economy.
Amendment 303 #
Proposal for a regulation
Article 5 – paragraph 2 – subparagraph 2 a (new)
Article 5 – paragraph 2 – subparagraph 2 a (new)
To guide the selection of projects that the EFSI can support, the Steering Board shall include concern with employment and social impact in the strategic orientation, in the guidelines on the strategic asset allocation, and in the operating policies and procedures, including the investment policies.
Amendment 337 #
Proposal for a regulation
Article 10 – paragraph 2 – point f a (new)
Article 10 – paragraph 2 – point f a (new)
(fa) an assessment of the contribution to the Union`s objectives and the Europe 2020 Strategy targets for employment, education and poverty reduction.