5 Amendments of Iliana IVANOVA related to 2012/2027(INI)
Amendment 1 #
Draft opinion
Paragraph 1
Paragraph 1
1. Recognises that financial instruments are a complementary tool to grant funding and provide the opportunity to create multiplier and leverage effects and therefore in some cases can be a more efficient and effective means of public support; recalls that the Commission is promoting an increased use of financial instruments for the next multiannual financial framework1 despite the fact that the Commission itself considers financial instruments in the cohesion area to be of high risk2 ;
Amendment 3 #
Draft opinion
Paragraph 2 – subparagraph 1 (new)
Paragraph 2 – subparagraph 1 (new)
Highlights the recommendations made by the European Court of Auditors in its opinion 6/2010 on the Financial Regulation related to: ownership of financial instruments that needs to be clarified; accounting and reporting of financial instruments in the financial statement that should be made consistent; clear implementing rules on monitoring that need to be adopted; reinforcement of the Commission's staff capacity to operate complex financial instruments; (Add as new paragraph)
Amendment 5 #
Draft opinion
Paragraph 4
Paragraph 4
4. Welcomes the observations provided by the European Court of Auditors (ECA) in its Special Report No 4/2011 on the SME Guarantee facility; calls on the European Investment Fund, which manages the facility on behalf of the Commission, to implement the ECA's recommendations as soon as possible; notes the observations of the ECA published in its Special Report 4/2011 on the audit of the SMEG facility which relate to: little factual evidences in support of the facility in the impact assessment, unclear objectives of the scheme and unspecific targets, cases where beneficiaries could have obtained loans on the market without publicly supported guarantees; welcomes at the same time the following achievements identified in the Special Report 4/2011, such as: establishment of an appropriate management framework, well-designed framework for selection of beneficiaries, clear and reasonable reporting requirements without excessive burden for SMEs;
Amendment 6 #
Draft opinion
Paragraph 5 – subparagraph 1 (new)
Paragraph 5 – subparagraph 1 (new)
Recommends that the following aspects be addressed in the next Multiannual financial framework: - Establishment of reliable and technically robust monitoring and evaluation systems which are specific to financial instruments and which include a small number of measurable, relevant, specific and uniform indicators focussing on results achieved and including relevant benchmarks and target levels for financial instruments, - Application of financial instruments in good coordination with other tools in order to better ensure the European added-value; (Add as new paragraph)
Amendment 9 #
Draft opinion
Paragraph 7
Paragraph 7
7. Is worried about the fact that many financial instruments are geared towards the same or similar beneficiaries and sees a risk of overlap and poor coordination in relation to these measures; calls on the Commission to propose a document mapping all existing financial instruments which will contribute to manage this risk properly;