12 Amendments of Jill EVANS related to 2015/0009(COD)
Amendment 12 #
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 financingin order to boost the economy and job creation, and to ensure increased access to financing with the aim of generating jobs and growth, as well as social and cultural inclusion. 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 16 #
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 education and training, job creation, long- term growth and competitiveness and contribute to achieving the targets of the Union strategy for smart, sustainable and inclusive growth. 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 18 #
Proposal for a regulation
Recital 16
Recital 16
(16) The EFSI should target investments that are expected to be economically and technically viable, which may entail a degree of appropriate risk, whilst still meeting the particular requirements for EFSI financing. It is therefore necessary to lay down clear principles, relevant economic and social criteria and conditions for EFSI support.
Amendment 20 #
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 and in the support for the general objectives of the financing and investment operations. The Investment Committee should organise a partnership with competent national, regional and local authorities as well as economic, cultural and social partners, i.e. relevant bodies or networks representing civil society. The purpose of such a partnership is to ensure respect for the principle of subsidiarity and proportionality and to ensure the ownership of planned operations by stakeholders. The Investment Committee should be accountable to a Steering Board of the EFSI, who should supervise the fulfilment of the EFSI's objectives. 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 23 #
Proposal for a regulation
Recital 29
Recital 29
(29) To partially finance the contribution from the Union budget, the availablhe envelopes of the Horizon 2020 – the Framework Programme for Research and Innovation 2014-2020, provided by Regulation (EU) No 1291/2013 of the European Parliament and of the Council2, and the Connecting Europe Facility, provided by Regulation (EU) No 1316/2013 of the European Parliament and of the Council3, should be rednot be touched. Those programmes serve purposes that are not replicated by the EFSI. However, theAny reduirection of both programmes to finance the guarantee fund is expected to ensure a greater investment in certain areas of their respective mandates than is possible through the existing programmes. The EFSI should be able to leverage the EU guarantee to multiply the financial effect within those areas of research, development and innovation and transport, telecommunications and energy infrastructure compared to if the resources had been spent via grants within the planned Horizon 2020 and Connecting Europe Facility programmes. It is, therefore, appropriate to redirect part of the funding presently envisaged for those programmes to the benefit of EFSIfunds from the Connecting Europe Facility or H2020 would have a negative impact on cultural and educational projects and Europeana. __________________ 2 Regulation (EU) No 1291/2013 of the European Parliament and of the Council of 11 December 2013 establishing Horizon 2020 - the Framework Programme for Research and Innovation (2014-2020) and repealing Decision No 1982/2006/EC (OJ L 347, 20.12.2013, p. 104). 3 Regulation (EU) No 1316/2013 of the European Parliament and of the Council of 11 December 2013 establishing the Connecting Europe Facility, amending Regulation (EU) No 913/2010 and repealing Regulations (EC) No 680/2007 and (EC) No 67/2010 (OJ L 348, 20.12.2013, p. 129).
Amendment 24 #
Proposal for a regulation
Recital 32
Recital 32
(32) Member States have also begun work at national level, regional and local authorities should work on establishing and promoting project pipelines for projects of nationalEuropean significance. The information prepared by the Commission and the EIB should provide links to the accompanying national project pipelines.
Amendment 27 #
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 quality investments in the Union targeting regions with high unemployment and poverty rates 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'). Such investments are meant to kick-start economic activity in the long term general interest of the EU with the aim of supporting the EUs 2020 targets, especially with regard to employment, environment, cultural, education and social affairs. No investment which is detrimental to the aims as outlined in Part 1 of the TFEU or the achievement of the EU2020 targets may be funded by EFSI.
Amendment 30 #
Proposal for a regulation
Article 5 – paragraph 2 – subparagraph 1 – introductory part
Article 5 – paragraph 2 – subparagraph 1 – introductory part
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 anInvestment Committee shall organise a partnership with competent national, regional and local authorities as well as economic, cultural and social partners and relevant bodies representing civil society. These partners shall be involved in examining and approving the concerned operations which shall be consistent with Union policies, with special attention to investment platforms focusing on innovative, transformative sectors, with highly economic, cultural and societal value, aggregating small scale sustainable projects, delivering sustainable and local jobs, increasing preservation and viability of eco-systems services, while also respecting minority languages and cultural diversity. It should support any of the following general objectives:
Amendment 33 #
Proposal for a regulation
Article 5 – paragraph 2 – subparagraph 1 – point b
Article 5 – paragraph 2 – subparagraph 1 – point b
(b) investment in social policies including social protection and social services, culture, education and training, health, research and development, information and communications technology and innovation;
Amendment 37 #
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, cultural and social fields as well as public services;
Amendment 38 #
Proposal for a regulation
Article 9 – paragraph 1
Article 9 – paragraph 1
1. The Commission and the EIB, with support from the Member States, shall promote the creation of a fully transparent pipeline of current and potential future investment projects in the Union. Projects and operations from the pipeline can be suggested by any member of the Steering Committee as well as by an accompanying Civil Society Platform for better investments. The pipeline is without prejudice to the final projects selected for support according to Article 3(5).
Amendment 41 #
Proposal for a regulation
Article 10 – paragraph 2 – point b
Article 10 – paragraph 2 – point b
(b) an assessment of the European added value, the mobilisation of private sector resources, the estimated and actual outputs, outcomes and impact of EIB financing and investment operations at an aggregated basisand the contribution in achieving EU policy targets, in particular to the Union Strategy for smart, sustainable and inclusive growth;