64 Amendments of Younous OMARJEE related to 2015/0009(COD)
Amendment 20 #
Proposal for a regulation
Recital 1
Recital 1
(1) The economic and financial crisis has led to a lowering of the level of investments within the Union and to a reversing of a long trend of converging GDP and unemployment rates within the Union. Investment has fallen by approximately 15% since its peak in 2007. The Union suffers in particular from a lack of investment as a consequence of market uncertainty regarding the economic future and the fiscal constraints on Member States. This lack of investment and fiscal constraints slows economic recovery and negatively affects job creation, long-term growth prospects and competitiveness.
Amendment 27 #
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 ininitiated the Europe 2020 strategy that put in placesets up an approach for smart, sustainable and inclusive growth. The capital of 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 capitalincreased in January 2013. Further action is required to ensure that the investment needs of the Union and that the achievement of the social, economic and territorial cohesion 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 taking into account the reduction of the gap between the different levels of economic development of the regions and Member States of the Union.
Amendment 29 #
Proposal for a regulation
Recital 8
Recital 8
(8) The EFSI is part of a comprehensive approach to strengthen social, economic and territorial cohesion and to address uncertainty surrounding public and private investments. The strategy has three pillars: mobilising finance for investment, making investment reach the real economy in particular of less developed regions and of urban and rural areas facing difficulties, and improving the investment environment in the Union.
Amendment 36 #
Proposal for a regulation
Recital 10
Recital 10
(10) The purpose of the EFSI should be to strengthen social, economic and territorial cohesion and to help resolve the difficulties in financing and implementing productive investments in the Union and to ensure increased access to financing. It is intended that increased access to financing should be of particular benefit to small and medium 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 52 #
Proposal for a regulation
Recital 11
Recital 11
(11) The EFSI should support strategic investments with high economic, environmental and territorial value added contributing to achieving Union policy objectives. The investments should be channelled primarily to new and innovative sources of growth and allow the transition of the EU’s economy towards a truly sustainable economy.
Amendment 56 #
Proposal for a regulation
Recital 16
Recital 16
(16) The EFSI should target investments that are expected to be economically, socially, environmentally and technically viable, which may entail a degree of appropriate risk, whilst still meeting the particular requirements for EFSI financing.
Amendment 58 #
Proposal for a regulation
Recital 17
Recital 17
(17) Decisions on the use of the EFSI support for infrastructure and large mid- cap projects should be made by an Investment Committee. The Investment Committee should be composed of independent experts who are knowledgeable and experienced in the areas of investment projects. The Investment Committee should be accountable to a Steering Board of the EFSI, who should supervise the fulfilment of the EFSI's objectives. The Steering Board of the EFSI should be accountable to the European Parliament. To effectively benefit from the experience of the EIF, the EFSI should support funding to the EIF to allow the EIF to undertake individual projects in the areas of small and medium enterprises and small mid-cap companies.
Amendment 75 #
Proposal for a regulation
Recital 14
Recital 14
(14) The EFSI should target projects delivering high societal, environmental, territorial and economic value. In particular, the EFSI should target projects that promote job creation, long- term growth and competitiveness. 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 76 #
Proposal for a regulation
Recital 31
Recital 31
(31) Within the Union, there are a significant number of potentially viable projects, in particular in less developed, outermost, remote and transition regions that are not being financed due to a lack of certainty and transparency with respect to such projects. Often, this is because private investors are not aware of the projects or have insufficient information to make an assessment of the investment risks. The Commission and the EIB, with support from the Member States, should promote the creation of a transparent pipeline of current and future investment projects in the Union suitable for investment. This 'project pipeline' should ensure that information is made publicly available regarding investment projects on a regular and structured basis to ensure that investors have reliable information on which to base their investment decisions.
Amendment 81 #
Proposal for a regulation
Recital 34
Recital 34
(34) To ensure accountability to European citizens, the EIB should regularly report to the European Parliament and the Council, the Council, the Committee of the Regions and the European Economic and Social Committee on the progress and impact of the EFSI.
Amendment 89 #
Proposal for a regulation
Article 1 – paragraph 1 – subparagraph 2
Article 1 – paragraph 1 – subparagraph 2
The purpose of the EFSI shall be to strengthen social, economic and territorial cohesion and to support investments in the Union and to ensure increased access to financing for companies 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').
Amendment 90 #
Proposal for a regulation
Recital 16
Recital 16
(16) The EFSI should target investments that are expected to be economically, ecologically and technically viable, which may entail a degree of appropriate risk, whilst still meeting the particular requirements for EFSI financing.
Amendment 91 #
Proposal for a regulation
Recital 16 a (new)
Recital 16 a (new)
(16a) The EFSI should also target innovative investment projects of structural importance for the future of the European Union and its citizens in many areas of the future which are being underexploited and contribute to sustainable development, such as new sources of energy, the protection and conservation of biodiversity, the green economy and the blue economy.
Amendment 92 #
Proposal for a regulation
Article 1 – paragraph 2 a (new)
Article 1 – paragraph 2 a (new)
2 a. Projects covering Overseas Countries and Territories (OCTs) are eligible to EFSI.
Amendment 95 #
Proposal for a regulation
Article 2 – paragraph 1 – subparagraph 1 – point d a (new)
Article 2 – paragraph 1 – subparagraph 1 – point d a (new)
(d a) the methodology to ensure a balanced and equitable distribution of investments and that adequately address the investment needs in all categories of regions as defined in the Common Provisions Regulation (CPR);
Amendment 96 #
Proposal for a regulation
Recital 17
Recital 17
(17) Decisions on the use of the EFSI support for infrastructure and large mid- cap projects should be made by an Investment Committee. The Investment Committee should be composed of independent experts who are knowledgeable and experienced in the areas of investmentpublic and private investment projects, and ensure the environmental viability of the projects. The Investment Committee should be accountable to a Steering Board of the EFSI, who should supervise the fulfilment of the EFSI's objectives and the policies of the European Union. The Steering Board of the EFSI should be accountable for its decisions to the European Parliament. To effectively benefit from the experience of the EIF, the EFSI should support funding to the EIF to allow the EIF to undertake individual projects in the areas of small and medium enterprises and small mid-cap companies.
Amendment 109 #
Proposal for a regulation
Recital 25
Recital 25
(25) The EIB should regularly evaluate activities supported by the EFSI with a view to assessing their relevance, performance and impactsocio-economic and environmental impact of the projects, and to identifying aspects that could improve future activities. Such evaluations should contribute to accountability and analysis of sustainability.
Amendment 114 #
Proposal for a regulation
Recital 26
Recital 26
(26) Alongside the financing operations that will be conducted through the EFSI, a European Investment Advisory Hub ('EIAH') should be created. The EIAH should provide strengthened support for project development and preparation across the Union, by building on the expertise of the Commission, the EIB, national promotional banks and the managing authorities of the European Structural and Investment Funds. The EIAH should propose innovative investment projects with a view to achieving the sustainable and harmonious development of the Union. This should establish a single point of entry for questions related to technical assistance for investments within the Union.
Amendment 116 #
Proposal for a regulation
Article 3 – paragraph 5 a (new)
Article 3 – paragraph 5 a (new)
5 a. The Steering Board of the EFSI is accountable to the European Parliament and to the European Council, who supervise its compliance to EFSI's objectives and EU's social, economic and territorial cohesion objectives, while ensuring the full safeguard of public interest.
Amendment 117 #
Proposal for a regulation
Article 3 – paragraph 5 b (new)
Article 3 – paragraph 5 b (new)
5 b. The Steering Board shall submit every six months to the European Parliament and to the Council an evaluation report on the results achieved by the Steering Board of the EFSI related to the implementation of the EFSI and its compliance with EFSI's objectives and EU's social, economic and territorial cohesion. In particular with a detailed analysis of the regional and national impact on the creation of jobs and growth and the prioritisation of public interest investment. On the basis of this evaluation report, the European Parliament, acting on a recommendation from the Council, shall give a discharge to the Commission in respect of the implementation of the EFSI and the compliance with EFSI's objectives and EU's social, economic and territorial cohesion. To this end, the Council and the European Parliament shall examine the evaluation report. Before giving a discharge to the Steering Board, or for any other purpose in connection with the exercise of its powers over the implementation of the EFSI, the European Parliament may ask to hear the Investment Committee and the Steering Board give evidence with regard to the execution of the EFSI. The Investment Committee and the Steering Board shall take all appropriate steps to act on the observations in the decisions giving discharge and on other observations by the European Parliament relating to the execution of the EFSI. At the request of the European Parliament or the Council, the Investment Committee and the Steering Board shall report on the measures taken in the light of these observations and comments.
Amendment 118 #
Proposal for a regulation
Article 3 – paragraph 5 c (new)
Article 3 – paragraph 5 c (new)
5 c. If a discharge is rejected, during the next six months following this rejection, the President of the Parliament and the President of the European Council become full members of the Steering Board. During this time, no decision of the Steering Board shall be adopted if the Commission, the EIB, the President of the Parliament or the President of the European Council votes against it.
Amendment 120 #
Proposal for a regulation
Article 5 – paragraph 2 – subparagraph 1
Article 5 – paragraph 2 – subparagraph 1
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, with Articles 174 and 309 TFEU and support any of the following general objectives:
Amendment 122 #
Proposal for a regulation
Article 5 – paragraph 2 – subparagraph 1 – point a
Article 5 – paragraph 2 – subparagraph 1 – point a
(a) development of infrastructure, including in the areas of transport, particularly in industrial centres and in remote regions; public interest investments; energy, in particular energy interconnections and renewable energy; and digital infrastructure;
Amendment 125 #
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 trainingprioritising public-led investments in education and training, social inclusion, fight against poverty, health, research and development, information and communications technology and innovation; , cultural industry, innovation, and maritime economy;
Amendment 127 #
Proposal for a regulation
Recital 32
Recital 32
(32) Member States have also begun work at national level on establishing and promoting project pipelines for projects of national significance. The information prepared by the Commission and the EIB should provide links to the accompanying national project pipelines, regional and macroregional project pipelines and the proposals which might be put forward locally.
Amendment 128 #
Proposal for a regulation
Article 5 – paragraph 2 – subparagraph 1 – point d
Article 5 – paragraph 2 – subparagraph 1 – point d
(d) infrastructure projects in the environmental, natural resources, urban development and, social fields and maritime economy;
Amendment 140 #
Proposal for a regulation
Article 5 – paragraph 4
Article 5 – paragraph 4
4. Provided that all relevant eligibility criteria are fulfilled and that the principle of additionality of EFSI is guaranteed while prioritising public interest, Member States may use European Structural and Investment Funds to contribute to the financing of eligible projects in which the EIB is investing with the support of the EU guarantee.
Amendment 145 #
Proposal for a regulation
Recital 8
Recital 8
(8) The EFSI is part of a comprehensive approach to strengthen social, economic and territorial cohesion and to address uncertainty surrounding public and private investments. The strategy has three pillars: mobilising finance for investment,; making investment reach the real economy, in particular in the less developed regions, in urban and rural areas facing social economical and financial constraints, and improving the investment environment in the Union.
Amendment 151 #
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 investments in the Union and to ensure increased access to financing for companies 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 investments supported by the EFSI shall be targeted, as a matter of priority, at sources of new and innovative growth and enable the EU economy to make the transition towards a real sustainable economy.
Amendment 156 #
Proposal for a regulation
Article 10 – paragraph 2 – introductory part
Article 10 – paragraph 2 – introductory part
2. The EIB, in cooperation with the EIF as appropriate, shall report annually to the European Parliament and to the Council, the Council, the Committee of the Regions and the European Economic and Social Committee on EIB financing and investment operations. The report shall be made public and include:
Amendment 162 #
Proposal for a regulation
Article 2 – paragraph 2 – subparagraph 1
Article 2 – paragraph 2 – subparagraph 1
The EFSI Agreement shall provide for the creation of a European Investment Advisory Hub ('EIAH') within the EIB. The EIAH shall have as its objective to build upon existing EIB and Commission advisory services in order to provide advisory support for investment project identification, preparation and development and act as a single technical advisory hub for project financing within the Union. The EIAH shall put forward structural and innovative investment projects in strategic areas, with a view to achieving the sustainable and harmonious development of the Union. This shall include support on the use of technical assistance for project structuring, use of innovative financial instruments, use of public-private partnerships and advice, as appropriate, on relevant issues of EU legislation.
Amendment 165 #
Proposal for a regulation
Article 15 – paragraph 1 a (new)
Article 15 – paragraph 1 a (new)
1 a. OLAF shall carry out investigations to avoid and prevent possible conflicts of interest in the EFSI decisions. To this end EIB, the members of the Steering Board and the members of the Investment Committee shall provide promptly to OLAF all necessary information at any stage of the preparation, implementation or closure of operations subject to the EU guarantee. Before taking office, members of the Steering Board and of the Investment Committee shall also provide to OLAF and to the EIB, a declaration of financial interests. Those declarations of interest shall be made public.
Amendment 174 #
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, public- led investments in the Union and to ensure increased access to financing. It is intended that increased access to financing should be of particular benefit to social enterprises, cooperatives, micro, small and medium 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 178 #
Proposal for a regulation
Article 3 – paragraph 2 – subparagraph 1
Article 3 – paragraph 2 – subparagraph 1
For as long as the only contributors to the EFSI are the Union and the EIB, the number of members and votes within the Steering Board shall be allocated based on the respective size of contributions in the form of cash or guarantees. Additional members and votes within the Steering Board shall be allocated to the European Parliament and the Council.
Amendment 185 #
Proposal for a regulation
Article 3 – paragraph 3 a (new)
Article 3 – paragraph 3 a (new)
3a. The Steering Board of the EFSI is accountable to the European Parliament and the European Council, which shall supervise the compliance of its decisions with the EFSI's objectives and with the EU's social, economic, environmental and territorial cohesion objectives, whilst ensuring that the public interest is safeguarded.
Amendment 186 #
Proposal for a regulation
Article 3 – paragraph 3 b (new)
Article 3 – paragraph 3 b (new)
Amendment 187 #
Proposal for a regulation
Article 3 – paragraph 3 c (new)
Article 3 – paragraph 3 c (new)
3c. If a discharge is rejected, during the next six months following this rejection, the President of the Parliament and the President of the European Council become full members of the Steering Board. During this time, no decision of the Steering Board shall be adopted if the Commission, the EIB, the President of the Parliament or the President of the European Council votes against it.
Amendment 191 #
Proposal for a regulation
Article 3 – paragraph 5 – subparagraph 1
Article 3 – paragraph 5 – subparagraph 1
The EFSI Agreement shall provide that the EFSI shall have an Investment Committee, which shall be responsible for examining potential operations in line with the EFSI investment policies and approving the support of the EU guarantee for operations in line with Article 5, irrespective of their geographic location. The Investment Committee shall also ensure that the projects are environmentally viable.
Amendment 198 #
Proposal for a regulation
Recital 11
Recital 11
(11) The EFSI should support strategic investments with high social, environmental, territorial and economic value added, contributing to achieving Union policy objectives, in particular the Union's economic, social and territorial cohesion; particular attention shall be paid to the outermost regions, urban and rural areas facing particular social, economical and financial constraints, areas affected by industrial transition, high unemployment rates, and regions which suffer from severe and permanent natural or demographic impairments, such as, the northernmost regions with very low population density and island, crossborder and mountain regions.
Amendment 209 #
Proposal for a regulation
Article 5 – paragraph 2 – subparagraph 1 – point a
Article 5 – paragraph 2 – subparagraph 1 – point a
(a) development of sustainable and eco- friendly infrastructure, including in the areas of transport, particularly in industrial centres; and in remote regions; renewable energy, in particular energy interconnections;, smart grids and digital infrastructure;
Amendment 217 #
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 developmentsocial inclusion, the fight against poverty, innovative health, research and development techniques in sustainable, low-carbon technologies, information and communications technology and innovation, innovation, eco-innovation and culture;
Amendment 223 #
Proposal for a regulation
Article 5 – paragraph 2 – subparagraph 1 – point c
Article 5 – paragraph 2 – subparagraph 1 – point c
(c) expansion of renewable energy and, energy efficiency and resource efficiency;
Amendment 239 #
Proposal for a regulation
Article 5 – paragraph 2 – subparagraph 1 – point d a (new)
Article 5 – paragraph 2 – subparagraph 1 – point d a (new)
(da) innovative investments in under- utilised areas such as new forms of energy, protection and conservation of biodiversity, the green economy and the blue economy;
Amendment 277 #
Proposal for a regulation
Article 10 – paragraph 2 – introductory part
Article 10 – paragraph 2 – introductory part
2. The EIB, in cooperation with the EIF as appropriate, shall report annually to the European Parliament and to the Council, the Council, the Committee of the Regions and the European Economic and Social Committee on EIB financing and investment operations. The report shall be made public and include:
Amendment 279 #
Proposal for a regulation
Article 10 – paragraph 2 – point b
Article 10 – paragraph 2 – point b
(b) an assessment of the added value, the mobilisation of private sector resources, the estimated and actual outputs, outcomes and socio-economic and environmental impact of EIB financing and investment operations at an aggregated basis;
Amendment 289 #
Proposal for a regulation
Article 15 – paragraph 1 a (new)
Article 15 – paragraph 1 a (new)
1a. OLAF shall carry out investigations to avoid and prevent possible conflicts of interest in EFSI-related decisions. To that end, the EIB, the members of the Steering Board and the members of the Investment Committee shall promptly provide OLAF with all the necessary information at all stages of the implementation of operations subject to the EU guarantee. Before taking office, the members of the Steering Board and of the Investment Committee shall also provide OLAF and the EIB with a declaration of financial interests.
Amendment 334 #
Proposal for a regulation
Recital 17
Recital 17
(17) Decisions on the use of the EFSI support for infrastructure and large mid- cap projects should be made by an Investment Committee. The Investment Committee should be composed of independent experts who are knowledgeable and experienced in the areas of investment projects. The Investment Committee should be accountable to a Steering Board of the EFSI, who should supervise the fulfilment of the EFSI's objectives. The Steering Board of the EFSI should be accountable to the European Parliament and the European Council. To effectively benefit from the experience of the EIF, the EFSI should support funding to the EIF to allow the EIF to undertake individual projects in the areas of small and medium enterprises and small mid-cap companies.
Amendment 498 #
Proposal for a regulation
Recital 31
Recital 31
(31) Within the Union, there are a significant number of potentially viable projects, in particular in less developed, outermost, remote and transition regions, that are not being financed due to a lack of certainty and transparency with respect to such projects. Often, this is because private investors are not aware of the projects or have insufficient information to make an assessment of the investment risks. The Commission and the EIB, with support from the Member States, should promote the creation of a transparent pipeline of current and future investment projects in the Union suitable for investment. This 'project pipeline' should ensure that information is made publicly available regarding investment projects on a regular and structured basis to ensure that investors have reliable information on which to base their investment decisions.
Amendment 565 #
Proposal for a regulation
Article 1 – paragraph 1 – subparagraph 2
Article 1 – paragraph 1 – subparagraph 2
The purpose of the EFSI shall be to strengthen social, economic and territorial cohesion and to support investments in the Union and to ensure increased access to financing for companies 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').
Amendment 601 #
Proposal for a regulation
Article 1 – paragraph 2 a (new)
Article 1 – paragraph 2 a (new)
2a. Project covering Overseas Countries and Territories (OCTs) are eligible to EFSI.
Amendment 646 #
Proposal for a regulation
Article 2 – paragraph 1 – subparagraph 1 – point d a (new)
Article 2 – paragraph 1 – subparagraph 1 – point d a (new)
(da) the methodology to ensure a balanced and equitable distribution of investments and that adequately address the investment needs in all categories of regions as defined in the Common Provision Regulation (CPR);
Amendment 782 #
Proposal for a regulation
Article 3 – paragraph 2 – subparagraph 1
Article 3 – paragraph 2 – subparagraph 1
For as long as the only contributors to the EFSI are the Union and the EIB, the number of members and votes within the Steering Board shall be allocated based on the respective size of contributions in the form of cash or guarantees. Additional members and votes within the Steering Board shall be granted to the European Parliament and to the European Council
Amendment 857 #
Proposal for a regulation
Article 3 – paragraph 5 – subparagraph 2
Article 3 – paragraph 5 – subparagraph 2
The Investment Committee shall be composed of six independent experts and the Managing Director. Independent experts shall have a high level of relevant market experience in project finance and, as well as of public and public-led project investment experience. They shall be appointed by the Steering Board for a renewable fixed term of three years.
Amendment 877 #
Proposal for a regulation
Article 3 – paragraph 5 – subparagraph 2 a (new)
Article 3 – paragraph 5 – subparagraph 2 a (new)
The Steering board of the EFSI is accountable to the European Parliament and to the European Council, who supervise its compliance to EFSI's objectives and EU's social, economic and territorial cohesion objectives, while ensuring the full safeguard of public interest.
Amendment 878 #
Proposal for a regulation
Article 3 – paragraph 5 – subparagraph 2 b (new)
Article 3 – paragraph 5 – subparagraph 2 b (new)
Amendment 888 #
Proposal for a regulation
Article 3 – paragraph 5 a (new)
Article 3 – paragraph 5 a (new)
5a. If discharge is not granted to the EFSI by the European Parliament, during the next six months following this rejection, the President of the Parliament and the President of the European Council shall become full members of the Steering board. During this time, no decision of the Steering board shall be adopted without the consensus of the Commission, the EIB, the President of the Parliament and the President of the European Council.
Amendment 940 #
Proposal for a regulation
Article 5 – paragraph 2 – subparagraph 1 – point a
Article 5 – paragraph 2 – subparagraph 1 – point a
(a) development of infrastructure, including in the areas of transport, particularly in industrial centres and in remote regions; public interest investments; energy, in particular energy interconnections and renewable energy; and digital infrastructure;
Amendment 963 #
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 trainingprioritising public-led investments in education and training, social inclusion, fight against poverty, health, research and development, information and communications technology and innovation, cultural industry, innovation, and maritime economy;
Amendment 992 #
Proposal for a regulation
Article 5 – paragraph 2 – subparagraph 1 – point d
Article 5 – paragraph 2 – subparagraph 1 – point d
(d) infrastructure projects in the environmental, natural resources, urban development and, social fields and maritime economy;
Amendment 1069 #
Proposal for a regulation
Article 5 – paragraph 4
Article 5 – paragraph 4
4. Provided that all relevant eligibility criteria are fulfilled and that the principle of additionality of EFSI is guaranteed while prioritising public interest, Member States may use European Structural and Investment Funds to contribute to the financing of eligible projects in which the EIB is investing with the support of the EU guarantee.
Amendment 1340 #
Proposal for a regulation
Article 13 – paragraph 1 a (new)
Article 13 – paragraph 1 a (new)
The EIB shall provide information on its website on the estimated costs of each project, the names of the economic operators involved, information on the return of each project, its compliance with article 5(2) and an evaluation of the impact, accessibility and costs to the citizen, in particular when related to projects, involving the development or reinforcement of infrastructures and provision of essential services, namely in the areas of social protection, social and care services, social economy, education and training, health, research, development information, communication technology and innovation.
Amendment 1351 #
Proposal for a regulation
Article 14 – paragraph 1
Article 14 – paragraph 1
The EU guarantee and the payments and recoveries under it that are attributable to the general budget of the Union shall be audited by the Court of Auditorsexternal audit of the activities undertaken in accordance with the EFSI Regulation is carried out by the European Court of Auditors in accordance with article 287 TFEU.
Amendment 1359 #
Proposal for a regulation
Article 15 – paragraph 1 a (new)
Article 15 – paragraph 1 a (new)
1a. OLAF shall carry out investigations to verify possible conflicts of interest in the EFSI decisions. To this end EIB, the members of the Steering Board and the members of the Investment Committee shall provide promptly to OLAF all necessary information at all stages of the preparation, implementation or closure of operations subject to the EU guarantee. Before to take office, members of the Steering board and of the Investment Committee shall provide to OLAF and to the EIB, a declaration of financial interests.
Amendment 1370 #
Proposal for a regulation
Article 16 – paragraph 1
Article 16 – paragraph 1
1. In its financing and investment operations, the EIB shall not support any activities carried out for illegal purposes, including money laundering, financing of terrorism, tax fraud and tax evasion, corruption, or fraud affecting the financial interests of the Union. In particular the EIB shall not participate in any financing or investment operation through a vehicle located in a non-cooperative jurisdiction, in line with its policy towards weakly regulated or non-cooperative jurisdictions based on policies of the Union, the Organisation for Economic Cooperation and Development or the Financial Action Task Force. The EIB shall not cooperate with financial intermediaries having a negative track record in terms of transparency, tax evasion and aggressive tax planning practices, or use other harmful tax practices such as "tax rulings" and abusive transfer pricing.