[ParlTrack]

Proposal for a regulation
Recital 2

(2) Comprehensive action is required to reverse the vicious circle created by a lack of investment. Structural reforms and fiscal responsibility are necessary preconditions for stimulating investment. Along with a renewed impetus towards investment financing, these preconditions can contribute to establishing a virtuous circle, where investment projects ~~help support employment~~create good quality jobs and demand and lead to a sustained increase in growth potential.

2015/03/06
Committee: EMPL

Jutta STEINRUCK

Proposal for a regulation
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. 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. Main intention of all measurements has to be the push for investment in integrated social policies in line with the 2013 social investment package. Overcoming Europe's current investment difficulties should contribute to strengthening the Union's economic, social and territorial cohesion.

2015/03/06
Committee: EMPL

Jutta STEINRUCK

Proposal for a regulation
Recital 11

(11) The EFSI should support strategic investments with high social and economic value added contributing to achieving Union policy objectives.

2015/03/06
Committee: EMPL

Jutta STEINRUCK, Evelyn REGNER

Proposal for a regulation
Recital 14

(14) The EFSI should target projects delivering high societal and economic value. In particular, the EFSI should target projects that promote ~~job~~the creation of good quality jobs, long- term and sustainable 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.

2015/03/06
Committee: EMPL

Jutta STEINRUCK, Evelyn REGNER

Proposal for a regulation
Recital 16

(16) The EFSI should target investments that are expected to be economically and technically viable and that are consistent with the EU's social policy priorities, especially the reduction of social exclusion and poverty, which may entail a degree of appropriate risk, whilst still meeting the particular requirements for EFSI financing.

2015/03/06
Committee: EMPL

Jutta STEINRUCK

Proposal for a regulation
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. At least one of the committee members must be a specialist in social and labour-market policies and therefore is responsible for assessing the social impact of submitted projects. 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.

2015/03/06
Committee: EMPL

Jutta STEINRUCK

Proposal for a regulation
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. 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.~~

2015/03/19
Committee: BUDG ECON

Jutta STEINRUCK

Proposal for a regulation
Recital 11

(11) The EFSI should support strategic investments with high economic value added contributing to achieving Union policy objectives. and to meeting the objectives of the Europe 2020 Strategy for smart, sustainable and inclusive growth, in particular the agreed targets for employment and poverty. In the process, the approach taken for the Commission's 2013 social investment package should be followed. Overcoming Europe's current investment difficulties will contribute to strengthening the Union's economic, social and territorial cohesion.

2015/03/19
Committee: BUDG ECON

Jutta STEINRUCK

Proposal for a regulation
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 be appointed by the Steering Board for a renewable fixed term of three years. At least one of the appointed members must be a specialist in social and labour-market policies and therefore be responsible for assessing the social impact of the committee decisions.

2015/03/06
Committee: EMPL

Jutta STEINRUCK

Proposal for a regulation
Recital 14 a (new)

(14a) There should be systematic monitoring of the impact of the EFSI on the promotion of a high level of employment, on the guarantee of adequate social protection, on the fight against social exclusion and on the level of education, training and protection of human health.

2015/03/19
Committee: BUDG ECON

Jutta STEINRUCK, Evelyn REGNER

Proposal for a regulation
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, especially with the goals of the EU's social policy priorities and the inclusion of social and equality preconditions and support any of the following general objectives:

2015/03/06
Committee: EMPL

Jutta STEINRUCK

Proposal for a regulation
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 having up to 3000 employees, including social economy enterprises and social service providers, with a particular focus on small and medium enterprises, through the supply of risk bearing capacity to the EIB ('EFSI Agreement'). The overarching objective of the EFSI should be to foster smart, sustainable and inclusive growth.