10 Amendments of Roberto GUALTIERI related to 2016/2064(INI)
Amendment 19 #
Motion for a resolution
Paragraph 1
Paragraph 1
1. Takes note of the large investment gap in Europe, which the Commission estimates at a minimum of EUR 200-300 billion a year; , highlights in particular, against this backdrop, the market needs in Europe for SMEs and for high-risk financing, for instance in the fields of R&D, energy and ICT; is concerned by the fact that the most recent data on national accounts do not indicate any surge in investment since the European Fund for Strategic Investments (EFSI) was launched, leading to risks of continued subdued growth and continuing high unemployment rates; stresses that closing this investment gap is key to reviving growth, fighting unemployment and attaining long-term EU policy objectives;
Amendment 57 #
Motion for a resolution
Paragraph 4
Paragraph 4
4. Recalls that the purpose of EFSI is to ensure additionality by helping to address market failures or suboptimal investment situations and supporting operations which could not have been carried out, or not to the same extent, under existing Union financial instruments;
Amendment 75 #
Motion for a resolution
Paragraph 6
Paragraph 6
6. Notes that, while all projects approved under EFSI are presented as ‘special activities’, an independent evaluation has found that some projects could have been financed otherwise, though it remains to be seen whether they would have been financed under the same terms and conditions or to the same extent;
Amendment 92 #
Motion for a resolution
Paragraph 7
Paragraph 7
7. Calls on the Commission, in cooperation with the EIB and the EFSI governance structures, to draw up an inventory of all EU-backed EIB financing falling under the additionality criteria;
Amendment 98 #
Motion for a resolution
Paragraph 8
Paragraph 8
8. Urges the EIB to comply fully withand the EFSI governance structures to ensure that market failures and sub-optimal situations are fully addressed, as per the letter and the spirit of the EFSI Regulation and to implement real additionalityreport back to the European Parliament;
Amendment 110 #
Motion for a resolution
Paragraph 9
Paragraph 9
9. Notes that, as provided for in the regulation, prior to a project being selected for EFSI support, it has to undergo due- diligence and decision-making processes both in the EIB and the EFSI governance structures in order to ensure the appropriate separation between the lender and the guarantor; observes that project promoters have expressed a wish for swift feedback and enhanced transparency in relation to both the selection criteria and the amount and type/tranche of possible EFSI support; criticises the current lack of clarity, which deters project promoters from applying for EFSI support; calls for the decision-making process to be made more transparent in respect of the selection criteria and financial support and to be speeded up, while continuing to ensure a robust due diligence in order to protect EU resources; underlines that in order to simplify the evaluation process, in particular for investment platforms, a joint due-diligence of EIB and NPBs, or a delegation by EIB to NPBs, should be encouraged;
Amendment 169 #
Motion for a resolution
Paragraph 14
Paragraph 14
14. Considers it important to discuss whether the envisaged leverage of 15 is appropriate to enable EFSI to support high quality projects bearing a higher risk; invites the EIB to weigh up or to properly address market failures; invites to strengthen the focus on the public goals to be achieved by the EFSI as a complementing to the volume requirement with secondary goals to be achieved;
Amendment 176 #
Motion for a resolution
Paragraph 15
Paragraph 15
15. Notes with concern that small projects are deterred from applying for EFSI financing based on their size; poinStresses the need to facilitate the financing of small projects toas they have a significant impact that a small project might nevertheless have on a national or regional scale; believes that the European Investment Advisory Hub (EIAH) is instrumental in advising and accompanying promoters of small-scale projects in the structuring and bundling of projects via investment platforms or framework agreements; calls on the Steering Board to look into this issue and put forward proposals to correct this situation;
Amendment 231 #
Motion for a resolution
Paragraph 20
Paragraph 20
20. Recalls that the IC experts are responsible for EFSI project selection, granting the EU guarantee and for approving operations with investment platforms and National Promotional Banks (NPBs) or institutions; recalls further that they are independent; considers that project selection is not transparent enough and that decisionsthe IC haves to be held accounted forable for its decisions; stresses that the EIB should make improvements to the disclosure of information about the projects it approves under EFSI, with a proper justification of additionality and the scoreboard; is concerned about documented conflicts of interest on the part of IC members;
Amendment 296 #
Motion for a resolution
Paragraph 29
Paragraph 29
29. Acknowledges however that GDP and the number of projects approved are linked; recognises that larger Member States have a larger absorption capacity and are able to take advantage of more developed capital markets and are therefore more likely to benefit from a market-driven instrument such as EFSI; underlines that lower EFSI support in EU- 13 may be attributable to other factors, such as the small size of projects, and competition from the European Structural and Investment Funds (ESIF); observes with concern, however, the disproportionate benefit to certain countries andhowever, underlines the need to diversify geographical distribution further and improve geographic and regional balance, especially in crucial sectors such as modernising and improving the productivity and sustainability of economies;