9 Amendments of Pascal ARIMONT related to 2016/0276(COD)
Amendment 42 #
Proposal for a regulation
Recital 3 a (new)
Recital 3 a (new)
(3a) On September 2016, on the “Evaluation of the Functioning of the European Fund for Strategic Investments”, the EIB suggests that although EFSI has ramped up quickly and seems to be on track to reach the target to mobilise EUR 315 billion of total investment, there are areas for improvement, including: complementarity with the other pillars of the Investment Plan, a better distribution of EFSI’s portfolio across all Member States, as well as in additionality and governance.
Amendment 44 #
Proposal for a regulation
Recital 4
Recital 4
(4) The EFSI, implemented and co- sponsored by the EIB Group, is firmly on track in terms of approved operations to deliver the objective of mobilising at least EUR 315 billion in additional investments in the real economy by mid-2018, however it is lagging behind in terms of signed operations as well as disbursements according to the EIB’s operation evaluation of its functioning, that covered the period up to June 30 20186. The market absorresponse and adoption has been particularly quick under the SME Window where the EFSI is delivering well beyondaccording to expectations due to the fact that it used existing EIF mandates ((InnovFin SMEG, COSME LGF and the RCR mandate) to have an accelerated kick start. In July 2016 the SME Window was thus scaled-up by EUR 500 million within the existing parameters of Regulation (EU) No 2015/1017. A larger share of financing to be geared towards SMEs given the exceptional market demand for SME financing under the EFSI as well as due to the generally higher multipliers achieved through EIF operations: 40% of the increased risk bearing capacity of the EFSI should be geared towards increasing access to financing for SMEs.
Amendment 48 #
Proposal for a regulation
Recital 5
Recital 5
(5) On 28 June 2016, the European Council concluded that “The Investment Plan for Europe, in particular the European Fund for Strategic Investments (EFSI), has already delivered concrete results and is a major step to help mobilise private investment while making smart use of scarce budgetary resources. The CommissUntil June 30 2016, under the Infrastructure and Innovation Wintends to soon put forward proposaldow, 63% of the total amount signed was in the United Kingdom, Italy and Spain and 91% in EU15 countries. Under the SME Window, 54% of the amount signed (excluding multi-country operations) was oin the future of the EFSI, which should be examined as a matter of urgency by the European Parliament and the Council.” Italy, France and Germany and 93% in EU15 countries. In order to improve balance of EFSI support, Member States should designate and support National Promotional Banks, whereas the EIB should further deploy region specific specialised task force groups and the EIAH should facilitate the combination of ESI funds with EFSI in cohesion regions.
Amendment 58 #
Proposal for a regulation
Recital 8
Recital 8
(8) The extended EFSI should address remaining market failures and sub-optimal investment situations and continue to mobilise private sector financing in investments crucial for Europe’s future job creation – including for the youth –, growth and competitiveness with strengthened additionality. They include investments in the areas of energy, environment and climate action, the circular economy, social and human capital and related infrastructure, healthcare, research and innovation, cross- border and sustainable transport, tourism, as well as the digital transformation. In particular, the contribution of operations supported by the EFSI to achieving the Union’s ambitious targets set at the Paris Climate Conference (COP21) should be reinforced. This would be in line with EIB’s current climate finance target of 25% based on its full portfolio. Energy interconnection priority projects and energy efficiency projects should also be increasingly targeted especially since the former could exemplify cases of market failure and the latter of sub-optimal investment situations. In addition, EFSI support to motorways should be avoided, unless it is needed to support private investment in transport in cohesion countries or in cross-border transport projects involving at least one cohesion country. For reasons of clarity, although they are already eligible, it should be explicitly laid down that projects in the fields of agriculture, fishery and aquaculture come within the general objectives eligible for EFSI support.
Amendment 69 #
Proposal for a regulation
Recital 9
Recital 9
(9) Additionality, a key feature of the EFSI, should be strengthenystematically assessed and documented in the selection of each projects. In particular, operations should only be eligible for EFSI support if they address clearly identified market failures or sub-optimal investment situations. Operations in infrastructure under the Infrastructure and Innovation Window linking two or more Member States, especially if at least one Member State is a cohesion country, including e- infrastructure, should be considered additional given their inherent difficulty and their high added value for the Union.
Amendment 93 #
Proposal for a regulation
Recital 17
Recital 17
(17) The EIB and the EIF should ensure that the final beneficiaries, including start- ups and SMEs, are informed of the existence of EFSI support, so as to enhance the visibility of the EU guarantee granted under Regulation (EU) 2015/1017.
Amendment 101 #
Proposal for a regulation
Recital 21
Recital 21
(21) The European Investment Advisory Hub (EIAH) should be enhanced and its activities should focus on needs not covered adequately under current arrangements. It should pay particular attention to supporting the preparation of projects involving two or more Member States and projects that contribute to achieving the objectives of COP21. Notwithstanding its objective to build upon existing advisory services of the EIB and the Commission, so to act as a single technical advisory hub for project financing within the Union, the EIAH should also contribute actively to the objective of sectorial and geographical diversification of the EFSI and support the EIB where needed in originating projects. It should also actively by strengthening its local presence in countries with limited capacity but with high investment potential. It should also actively collaborate with established National Promotional Banks, work with the Commission in order to facilitate Member States in the establishment of NPBs, contribute to the establishment of sectoral or regional investment platforms and provide advice on the combination of other sources of Union funding with the EFSI.
Amendment 118 #
Proposal for a regulation
Article 1 – paragraph 1 – point 2
Article 1 – paragraph 1 – point 2
Regulation (EU) 2015/1017
Article 5 – paragraph 1 – subparagraph 3
Article 5 – paragraph 1 – subparagraph 3
To better address market failures or sub- optimal investment situationeconomic and financial inefficiencies, including market failures or sub-optimal investment situations, discrepancies in the investment capacity of the Member States as reflected in diverse risk premiums, leveraging frictions or weak investment multipliers, and including also complicated multinational and cross border projects, and lack of risk-taking, especially in research, innovation, new technologies as well as in new and traditional infrastructures, EIB’s special activities supported by the EFSI shall typically have features such as subordination, participation in risk-sharing instruments, as well as first-loss guarantee schemes only when combined with EU and/or national budgetary resources, cross-border characteristics, exposure to specific risks or other identifiable aspects as further described in Annex II. Or. en (http://eur-lex.europa.eu/legal- content/EN/TXT/HTML/?uri=CELEX:32015R1017&from=EN)
Amendment 151 #
Proposal for a regulation
Article 1 – paragraph 1 – point 5 – point b
Article 1 – paragraph 1 – point 5 – point b
Regulation (EU) 2015/1017
Article 9 – paragraph 2 – subparagraph 1 a
Article 9 – paragraph 2 – subparagraph 1 a