2016/0281(COD) | [ParlTrack]

Proposal for a regulation
Recital 4

(4) The EIP should provide an integrated financial package to finance investments starting in regions of Africa for countries that are signatories to the Partnership Agreement between the members of the African, Caribbean and Pacific Group of States of the one part, and the European Community and its member States, of the other part, signed in Cotonou on 23 June 200022 and the Neighbourhood countries, ~~thereby creating growth and employment opportunities, maximising additionality, delivering innovative products~~making sure not to increase debt risks or macroeconomic vulnerability, thereby supporting longer term development through creating sustained growth and employment opportunities, with particular focus on gender equality and the empowerment of women and youth, supporting the implementation of the EU Gender Action Plan, ensuring additionality, and crowding-in private sector funds~~. __________________ 22OJ L 317, 15.12.2000 as last amended by OJ L 287, 4.11.2010~~, while respecting human rights, and not creating negative environmental externalities.

Amendment 103 #

Fabio Massimo CASTALDO, Ignazio CORRAO, Marco VALLI

Proposal for a regulation
Recital 4

(4) The EIP should provide an integrated financial package to finance investments starting in regions of Africa for countries that are signatories to the Partnership Agreement between the members of the African, Caribbean and Pacific Group of States of the one part, and the European Community and its member States, of the other part, signed in Cotonou on 23 June 200022 and the Neighbourhood countries, thereby creating growth and employment opportunities, maximising additionality, delivering innovative products, and crowding-in private sector funds. The screening and award of projects must be based on a transparent process, subject to accountability, at every stage; if any irregularity occurs, it should result in suspension of the funding. __________________ 22 OJ L 317, 15.12.2000 as last amended by OJ L 287, 4.11.2010

Amendment 104 #

Beatriz BECERRA BASTERRECHEA, Anneli JÄÄTTEENMÄKI, Urmas PAET, Jozo RADOŠ, Hilde VAUTMANS, Ilhan KYUCHYUK, Paavo VÄYRYNEN, Nedzhmi ALI

Proposal for a regulation
Recital 4

(4) The EIP should provide an integrated financial package to finance investments starting in regions of Africa for countries that are signatories to the Partnership Agreement between the members of the African, Caribbean and Pacific Group of States of the one part, and the European Community and its member States, of the other part, signed in Cotonou on 23 June 200022 and the Neighbourhood countries, ~~thereby creating~~making sure not to increase debt risks or macroeconomic vulnerability, thereby supporting longer term development through green and inclusive growth and employment opportunities, maximising additionality, delivering innovative products, and crowding-in private sector funds. __________________ 22 OJ L 317, 15.12.2000 as last amended by OJ L 287, 4.11.2010

Amendment 105 #

Proposal for a regulation
Recital 4

Amendment 106 #

Proposal for a regulation
Recital 4

Amendment 107 #

Georgios EPITIDEIOS

Proposal for a regulation
Recital 4

(4) The EIP should provide ~~an integrated financial package to finance~~limited funding for investments starting in regions of Africa for countries that are signatories to the Partnership Agreement between the members of the African, Caribbean and Pacific Group of States of the one part, and the European Community and its member States, of the other part, signed in Cotonou on 23 June 200022 and the Neighbourhood countries, thereby creating growth and employment opportunities, maximising additionality, delivering innovative products, and crowding-in private sector funds. __________________ 22 OJ L 317, 15.12.2000 as last amended by OJ L 287, 4.11.2010

Amendment 108 #

Proposal for a regulation
Recital 4 a (new)

(4a) Involvement of the private sector in the Union's cooperation with partner countries through the EFSD should yield additional development impact, without distorting the market and should be cost- effective, based on mutual accountability, risk and costs sharing; and build on a commitment to internationally agreed guidelines and principles, including the Principles for Responsible Investment and UN's Guiding Principles on Business and Human Rights and the Organisation for Economic Cooperation and Development's (OECD) Guidelines for Multinational Enterprises.

Amendment 109 #

Isabelle THOMAS, Jean-Paul DENANOT, Vincent PEILLON

Proposal for a regulation
Recital 4 a (new)

(4a) State development funding alone is not the solution - Much has been achieved by public development cooperation. This is not enough to address a new dimension of challenges. Instead, these funds should in future act more as drivers and promoters of private investment. In this process, sustainability and a basic principle of responsible project management must be respected.

Amendment 110 #

Proposal for a regulation
Recital 4 a (new)

(4a) The EFSD should foster the creation of decent jobs, economic opportunities and entrepreneurship, with a special focus on young people, gender equality and the empowerment of women and young people in line with the Union’s Gender Action Plan 2016-2020, while strengthening the rule of law, good governance and human rights.

Amendment 111 #

Beatriz BECERRA BASTERRECHEA, Anneli JÄÄTTEENMÄKI, Urmas PAET, Hilde VAUTMANS, Ilhan KYUCHYUK, Nedzhmi ALI

Proposal for a regulation
Recital 4 a (new)

(4a) In order to fulfil the political commitments of the EU on renewable energy, energy efficiency, and climate change mitigation and adaptation, a minimum share of 35% of the funding under the EFSD should be devoted to financing and investment operations wholly relevant for these sectors thus contributing to the implementation of the Paris Agreement on Climate Change.

Amendment 112 #

Doru-Claudian FRUNZULICĂ, Soraya POST, Eider GARDIAZABAL RUBIAL

Proposal for a regulation
Recital 4 a (new)

(4a) In order to fulfil the political commitments of the Union on renewable energy and climate change, including resource efficiency, a minimum share of 35 % of the funding allocated under the EFSD should be devoted to financing and investment operations relevant for those sectors, thus contributing to the implementation of the Paris Agreement on Climate Change.

Amendment 113 #

Maurice PONGA, Paul RÜBIG, Eduard KUKAN, Bogdan Brunon WENTA

Proposal for a regulation
Recital 4 a (new)

(4a) The EFSD should incorporate the Union's commitments on development effectiveness and deriving from the Addis Ababa Action Agenda on Financing for Development. Actions under the EFSD Regulation should be designed so as to fulfil the criteria for Official Development Assistance (ODA) established by the Development Assistance Committee (DAC) of the OECD.

Amendment 114 #

Proposal for a regulation
Recital 4 a (new)

(4a) Actions under the EFSD Regulation should be designed, so as to fulfil the criteria for development finance established by the Development Assistance Committee (DAC) of the OECD taking into account the specificities of private sector development.

Amendment 115 #

Proposal for a regulation
Recital 4 b (new)

(4b) Africa needs African solutions - There are encouraging signs that the States of Africa have made a new start with the establishment of the African Union (AU) and the New Partnership for Africa's Development (NEPAD). With the AU’s Agenda 2063, reform- minded politicians have mapped out Africa's own path. Europe must take African countries at their word and develop a new dimension and quality of cooperation.

Amendment 116 #

Paul RÜBIG, Maurice PONGA, Eduard KUKAN, Bogdan Brunon WENTA

Proposal for a regulation
Recital 4 c (new)

(4c) Ownership of decisions and a pro- active approach are important drivers of development. The donor-recipient mentality that has prevailed for decades should be replaced by partnership-based, economic cooperation, which prioritises a pro-active approach and ownership of decisions. In the long term, it is primarily the private sector rather than the State that creates employment on a sufficient scale. That is why Africa needs fewer subsidies and more free and fair private investment. As an integrated financial package to finance investments, care should be taken to ensure that immediately applicable programmes are deployed in a targeted manner in order to create a favourable environment on the ground and investments are mobilised and secured in this connection. Good framework conditions are the basis for economic development.

Amendment 117 #

Proposal for a regulation
Recital 4 c (new)

(4c) Technical assistance to partner countries should constitute the second pillar of the EIP. In this context, the Commission should step up assistance in order to help partner countries to attract investment by better preparing and promoting projects, developing a higher number of bankable projects and making them known to the international investor community. A project web-portal should be established, which shall constitute a publicly accessible and user-friendly project database, providing relevant information for each project.

Amendment 118 #

Paul RÜBIG, Maurice PONGA, Eduard KUKAN, Bogdan Brunon WENTA

Proposal for a regulation
Recital 4 c (new)

(4c) Improving the investment climate and overall policy environment in partner countries should constitute the third pillar of the EIP. In the context of the Union's existing political relations with partner countries, the Commission and the High Representative of the Union for Foreign Affairs and Security Policy (High Representative) should maintain policy dialogues aimed at developing legal frameworks, policies and institutions that promote economic stability, sustainable investment and inclusive growth. These policy dialogues should cover, among other issues, the fight against corruption and organised crime and illicit financial flows, good governance, the inclusion of local markets, the boosting of entrepreneurship as well as local business settings, the respect for human rights and the rule of law as well as gender- responsive policies.

Amendment 119 #

Proposal for a regulation
Recital 5

(5) The European Fund for Sustainable Development (EFSD) should be composed of regional investment platforms, which will combine financing from existing blending facilities and the EFSD Guarantee. The existing blending facilities for Africa are created by Commission Decision C(2015)5210 and by Commission Implementing Decision C(2016)3436 for the Neighbourhood. Each regional investment platform should have an operational board that supports the Commission in defining and monitoring regional and sectorial investment goals, regional, sectorial and thematic investment windows, formulates opinions on the blending operations and discusses the use of the EFSD Guarantee in line with the investment windows to be defined.

Amendment 120 #

Beatriz BECERRA BASTERRECHEA, Anneli JÄÄTTEENMÄKI, Urmas PAET, Jozo RADOŠ, Hilde VAUTMANS, Ilhan KYUCHYUK, Nedzhmi ALI

Proposal for a regulation
Recital 5 a (new)

(5a) In the light of the European Court of Auditors findings1a regarding the use of blending in EU external relations, highlighting the fact that for nearly half of the projects examined there was insufficient evidence to conclude that the grants were justified, and that for a number of these cases there were indications that the investments would have been made without the EU contribution, it is paramount that blending should only be used when the Commission can clearly demonstrate its added value. _____________________ 1a http://www.eca.europa.eu/Lists/ECADocu ments/SR14_16/SR14_16_EN.pdf

Amendment 121 #

Proposal for a regulation
Recital 5 a (new)

(5a) The EFSD in all its capacity will fully commit to and respect human rights and equal treatment in recipient countries and of all actors associated with financial and investment activities.

Amendment 122 #

Proposal for a regulation
Recital 6

(6) Furthermore, the EFSD should ~~operate as 'one-stop-shop' to receive financing proposals from financial institutions and public or priv~~come under the exclusive control of Member States investors and deliver a wide range of financial support to eligible investments. The EFSD Guarantee should be backed by the EFSD Guarantee Fund. The EFSD should deploy innovative instruments to support investments and involve the private sector. order to prevent the EU from favouring private operators from only one Member State, as it does in other areas;

Amendment 123 #

Proposal for a regulation
Recital 6

(6) Furthermore, the EFSD should operate as 'one-stop-shop' to receive financing proposals from financial institutions and public or private investors and deliver a wide range of financial support to ~~eligible invest~~investments which lead to sustainable and inclusive economic, social and environmental developments. The EFSD Guarantee should be backed by the EFSD Guarantee Fund. The EFSD should deploy innovative instruments to ~~support investments and involve the private sector~~facilitate access to finance for in priority domestic investors, in particular for local companies and micro, small, and medium-sized enterprises.

Amendment 124 #

Proposal for a regulation
Recital 6

(6) Furthermore, the EFSD should operate as 'one-stop-shop' to receive financing proposals from financial institutions and public or private investors and deliver a wide range of financial support to eligible investments. The EFSD Guarantee should be backed by the EFSD Guarantee Fund. ~~The EFSD should deploy innovative instruments to support investments and involve the private sector.~~

Amendment 125 #

Proposal for a regulation
Recital 6

(6) Furthermore, the EFSD sh~~ould~~all operate as 'one-stop-shop' to receive financing proposals from financial institutions and public or private investors and deliver a wide range of financial support to eligible investments. The EFSD Guarantee should be backed by the EFSD Guarantee Fund. The EFSD should deploy innovative instruments ~~to suppor~~and mechanisms to support and attract investments and ~~involve~~partner with the private sector.

Amendment 126 #

Proposal for a regulation
Recital 6

(6) Furthermore, the EFSD should operate as 'one-stop-shop' to receive financing proposals from financial institutions and public or private investors and deliver a wide range of financial support to eligible investments. The EFSD Guarantee should be backed by the EFSD Guarantee Fund. The EFSD should deploy ~~innovative~~proven instruments to support investments and involve the private sector.

Amendment 127 #

Beatriz BECERRA BASTERRECHEA, Urmas PAET, Anneli JÄÄTTEENMÄKI, Jozo RADOŠ, Hilde VAUTMANS, Ilhan KYUCHYUK, Paavo VÄYRYNEN, Nedzhmi ALI

Proposal for a regulation
Recital 6 a (new)

(6a) The EFSD should deploy innovative instruments to support investments and involve the private sector in particular local micro-, small- and medium-sized enterprises, targeting areas which can help achieve sustainable development outcome. Bottlenecks and obstacles to domestic and foreign investments need to be addressed in this respect.

Amendment 128 #

Maurice PONGA, Paul RÜBIG, Eduard KUKAN, Bogdan Brunon WENTA

Proposal for a regulation
Recital 7

(7) Coordination and coherence of the EFSD with the European Investment Bank's (EIB) external lending mandate as set out in Decision [to be adopted], including the EIB resilience initiative, as well as with the ACP Investment Facility23 should be ensured through the Strategic Board of the EFSD. The EIB should report every six months to the Commission, the European Parliament and the Council on the financing and investment operations covered by the EFSD Guarantee with a view to ensuring greater accountability. __________________ 23 Annex II to the Cotonou Agreement

Amendment 129 #

Proposal for a regulation
Recital 7 a (new)

(7a) The Commission and EIB should conclude an agreement specifying the conditions of their cooperation in the management of the EFSD guarantee and should present the agreement to the strategic board.

Amendment 130 #

Beatriz BECERRA BASTERRECHEA, Anneli JÄÄTTEENMÄKI, Urmas PAET, Nedzhmi ALI, Jozo RADOŠ, Hilde VAUTMANS, Ilhan KYUCHYUK, Marielle DE SARNEZ

Proposal for a regulation
Recital 8

(8) Moreover, the Strategic Board should support the Commission in setting strategic guidance and overall investment goals. The Strategic Board should also support coordination and coherence between the regional platforms. This should ensure complementarityThe Council should be responsible for providing guidance ofn the various instruments in external action. The Strategic Board should be co-chaired by the Commission and the High Representative of the Union for Foreign Affairs and Security Policy to ensure consistency and coherence with Union external policy objectives and partnership frameworks with third countriinvestments allowed under the fund, which is financed by the Member States.;

Amendment 131 #

Proposal for a regulation
Recital 8

(8) Moreover, the Strategic Board should support the Commission in setting strategic guidance and overall investment goals. The Strategic Board should also support coordination and coherence between the regional platforms~~. This should ensur~~, with core EU development goals, and with existing strategies and instruments in view of strengthening the complementarity of the various instruments in external action while ensuring policy coherence for development. The Strategic Board should be co-chaired by ~~the~~ Commission and the High Representative of the Union for Foreign Affairs and Security Policy to ensure consistency and coherence ~~with~~of Union external policy objectives and partnership frameworks with third countries. The European Parliament shall participate in the Strategic Board as a permanent observer to ensure its right and obligation to exercise scrutiny over the implementation of the EFSD. The minutes of the strategic board shall be published as soon as they are approved by the strategic board.

Amendment 132 #

Doru-Claudian FRUNZULICĂ, Eider GARDIAZABAL RUBIAL, Soraya POST

Proposal for a regulation
Recital 8

(8) Moreover, the Strategic Board should support the Commission in setting strategic guidance and overall investment goals. The Strategic Board should also support coordination and coherence between the regional platforms. This should ensure complementarity of the various instruments in external action. The Strategic BThe strategic board should be co- chaired by the Commission and the High Representative ~~of the Unio~~in for ~~Foreign Affairs and Security Policy~~der to ensure consistency and coherence with Union external policy objectives, and ~~partnership frameworks with third countries~~with the Union's other efforts addressing the root causes of migration, as well as Policy Coherence for Development.

Amendment 133 #

Proposal for a regulation
Recital 8

(8) Moreover, the Strategic Board should support the Commission in setting strategic guidance and overall investment goals. The Strategic Board should also support coordination and coherence between the regional platforms and respect commitments on policy coherence for development. This should ensure complementarity of the various instruments in external action. The Strategic Board should be co-chaired by the Commission and the High Representative of the Union for Foreign Affairs and Security Policy to ensure consistency and coherence with Union external policy objectives and partnership frameworks with third countries.

Amendment 134 #

Fabio Massimo CASTALDO, Ignazio CORRAO, Marco VALLI

Proposal for a regulation
Recital 8

(8) Moreover, the Strategic Board and Parliament should support the Commission in setting strategic guidance and overall investment goals, the Strategic Board should also support coordination and coherence between the regional platforms, this should ensure complementarity of the various instruments in external action. The Strategic Board should be co-chaired by the Commission and the High Representative of the Union for Foreign Affairs and Security Policy and Parliament to ensure consistency and coherence with Union external policy objectives and partnership frameworks with third countries.

Amendment 135 #

Proposal for a regulation
Recital 8 a (new)

(8a) The guarantee must not be used to fund major infrastructure projects which have a low impact on job creation and whose cost-benefit ratio renders the investment unsustainable. The guarantee should only fund projects whose implementation is not controversial from the environmental, financial and social points of view on the basis of an independent in-depth ex ante assessment and an adequate cost-benefit analysis.

Amendment 136 #

Doru-Claudian FRUNZULICĂ, Eider GARDIAZABAL RUBIAL, Soraya POST

Proposal for a regulation
Recital 8 a (new)

(8a) European Union Delegations in partner countries should promote access to, and actively provide information on the EFSD, and enhance coherence between the use of the guarantee, use of blended finance under the regional platforms, the provision of enhanced targeted technical assistance, and policy dialogues in their respective country.

Amendment 137 #

Paul RÜBIG, Maurice PONGA, Eduard KUKAN, Bogdan Brunon WENTA

Proposal for a regulation
Recital 8 a (new)

(8a) The EFSD should address bottlenecks to private investment and deploy innovative instruments to facilitate access to finance from domestic and foreign investors, in particular for local and European companies as well as for micro, small, and medium-sized enterprises.

Amendment 138 #

Proposal for a regulation
Recital 9

(9) The EFSD Guarantee should be granted to eligible counterparts for financing and investment operations or guarantee instruments for an initial investment period up to 31 December 2020. Implementation of the EFSD Guarantee shall be, whenever possible, under the lead of a European eligible counterpart.

Amendment 139 #

Proposal for a regulation
Recital 9

(9) The EFSD Guarantee should be granted to eligible counterparts for financing and investment operations or guarantee instruments for an initial investment period up to 31 December 2020, with a possibility for extension if deemed necessary.

Amendment 140 #

Fabio Massimo CASTALDO, Ignazio CORRAO, Marco VALLI

Proposal for a regulation
Recital 9 a (new)

(9a) The Commission should encourage the European eligible counterparts to support EIB in the management of the EFSD guarantee through respective participation in a technical working group.

Amendment 141 #

Proposal for a regulation
Recital 10

(10) In order to provide for flexibility, increase the attractiveness for the private sector and maximise the impact of the investments it is appropriate to provide for a derogation from Article 58(1)(c)(vii) of Regulation (EU) No 966/2012 of the European Parliament and the Council24 by which the eligible counterparts who are bodies governed by private law could also be bodies which are not entrusted with the implementation of a public- private partnership and could also be bodies governed by the private law of a partner country. __________________ 24 Regulation (EU, Euratom) No 966/2012 of the European Parliament and the Council of 25 October 2012 on the financial rules applicable to the general budget of the Union and repealing Council Regulation (EC, Euratom) No 1605/2002 (OJ L 298, 26.10.2012, p. 1).deleted

Amendment 142 #

Proposal for a regulation
Recital 10

Amendment 143 #

Doru-Claudian FRUNZULICĂ, Eider GARDIAZABAL RUBIAL, Soraya POST

Proposal for a regulation
Recital 10 a (new)

(10a) Monitoring the quality of supported financing and investment operations is of key importance in order to ensure that they effectively contribute to sustainable development. EU delegations would be well placed to perform such tasks, but as their capacities are limited, it is of paramount importance to include reliable civil society organisations both locally and internationally.

Amendment 144 #

Proposal for a regulation
Recital 10 a (new)

(10a) The EFSD guarantee should be managed so as to provide a level playing field for eligible counterparts, avoid conflicts of interest and be efficient with due regard to the objective of crowding in private sector for financing investments and maximising additionality.

Amendment 145 #

Xabier BENITO ZILUAGA, Miguel URBÁN CRESPO

Proposal for a regulation
Recital 12

(12) The Union should make available a guarantee of EUR 1 500 000 000 to establish the EFSD Guarantee. Member States and other contributors are invited to contribute further to support the EFSD Guarantee Fund in the form of cash (Member States and other contributors) or guarantees (Member States) in order to increase the liquidity cushion and thus allow the increase of the total volume of EFSD Guarantee. The Union should make available a guarantee of EUR 1 500 000 000 to establish the EFSD Guarantee. Member States, public financial institutionsGiven that the Union does not produce anything itself, any guarantees that are made available come from the Member States, and other contributors should be invited to provide additional funding to the EFSD Guarantee Fund under conditions that should be established in an agreement to be concluded between the Commission on behalf of the Union and all theis should be made clear to the beneficiary countri~~butors.~~es;

Amendment 146 #

Georgios EPITIDEIOS

Proposal for a regulation
Recital 12

(12) The Union should make available a guarantee of EUR 1 500 000 000 to establish the EFSD Guarantee. Member States and other contributors are invited to contribute further to support the EFSD Guarantee Fund in the form of cash (Member States and other contributors) or guarantees (Member States) in order to increase the liquidity cushion and thus allow the increase of the total volume of EFSD Guarantee. The Union should make available a guarantee of EUR 1 500 000 000 to establish the EFSD Guarantee. ~~Member States, p~~Public financial institutions and other contributors should be invited to provide additional funding to the EFSD Guarantee Fund under conditions that should be established in an agreement to be concluded between the Commission on behalf of the Union and all the contributors.

Amendment 147 #

Proposal for a regulation
Recital 12

(12) The Union should make available a guarantee of EUR 1 5000 000 000 to establish the EFSD Guarantee. Member States and other contributors are invited to contribute further to support the EFSD Guarantee Fund in the form of cash (Member States and other contributors) or guarantees (Member States) in order to increase the liquidity cushion and thus allow the increase of the total volume of EFSD Guarantee. The Union should make available a guarantee of EUR 1 5000 000 000 to establish the EFSD Guarantee. Member States, public financial institutions and other contributors should be invited to provide additional funding to the EFSD Guarantee Fund under conditions that should be established in an agreement to be concluded between the Commission on behalf of the Union and all the contributors.

Amendment 148 #

Maurice PONGA, Paul RÜBIG, Eduard KUKAN, Bogdan Brunon WENTA

Proposal for a regulation
Recital 14

(14) In order to increase the impact of the EFSD Guarantee in view of the needs in the regions concerned, Member States should ~~have the possibility of~~ provid~~ing~~e contributions in the form of a guarantee or cash. ~~Those contributions could be earmarked by region, sector or investment window.~~

Amendment 149 #

Proposal for a regulation
Recital 14

(14) In order to increase the impact of the EFSD Guarantee in view of the needs in the regions concerned, Member States and EFTA countries should have the possibility of providing contributions in the form of a guarantee or cash. Those contributions could be earmarked by countries, region, sector or investment window.

Amendment 150 #

Beatriz BECERRA BASTERRECHEA, Urmas PAET, Anneli JÄÄTTEENMÄKI, Jozo RADOŠ, Ilhan KYUCHYUK, Paavo VÄYRYNEN

Proposal for a regulation
Recital 14

(14) In order to increase the impact of the EFSD Guarantee in view of the needs in the regions concerned, Member States should have the possibility of providing contributions in the form of a guarantee or cash. Those contributions could be earmarked by region, country, sector or investment window.

Amendment 151 #

Proposal for a regulation
Recital 15

(15) As the funds of the EDF are to be used for the countries eligible under the 11th European Development Fund (EDF)25, it requires the allocation of a minimum of EUR 400 000 000 of EFSD Guarantee coverage for investments throughout the implementation period of the EFSD Guarantee. The EFSD Guarantee should only become available when EUR 400 000 000 of 11th EDF funds have been allocated to the EFSD Guarantee Fund. As the funds of EDF are to be used, the EFSD Guarantee should comprise investments in the areas from which the original funds had been diverted. Commitments to ensure EDF funding is ODA eligible as well as upcoming decisions to be made by the OECD DAC on private sector instruments are to be respected. __________________ 25 Internal Agreement between the Representatives of the Governments of the Member States of the European Union, meeting within the Council, on the financing of European Union aid under the multiannual financial framework for the period 2014 to 2020, in accordance with the ACP-EU Partnership Agreement and on the allocation of financial assistance for the Overseas Countries and Territories to which Part Four of the Treaty on the Functioning of the European Union applies (OJ L 210, 6.8.2013, p. 1).

Amendment 152 #

Eider GARDIAZABAL RUBIAL, Doru-Claudian FRUNZULICĂ, Soraya POST

Proposal for a regulation
Recital 15

(15) As the funds of the EDF are to be used for the countries eligible under the 11th European Development Fund (EDF)25, it requires the allocation of a minimum of EUR 400 000 000 of EFSD Guarantee coverage for investments throughout the implementation period of the EFSD Guarantee. The EFSD Guarantee should only become available when a contribution of EUR 400 000 000 of 11th EDF funds ~~have been allocated~~ to the EFSD Guarantee Fund has been confirmed. __________________ 25 Internal Agreement between the Representatives of the Governments of the Member States of the European Union, meeting within the Council, on the financing of European Union aid under the multiannual financial framework for the period 2014 to 2020, in accordance with the ACP-EU Partnership Agreement and on the allocation of financial assistance for the Overseas Countries and Territories to which Part Four of the Treaty on the Functioning of the European Union applies (OJ L 210, 6.8.2013, p. 1).

Amendment 153 #

Paul RÜBIG, Maurice PONGA, Eduard KUKAN, Bogdan Brunon WENTA

Proposal for a regulation
Recital 15 a (new)

(15a) As the funds of the European Neighbourhood Instrument, established by Regulation (EU) No 232/2014 of the European Parliament and of the Council1a, are to be used, a minimum of EUR 200 000 000 of EFSD Guarantee coverage should be allocated for investments in Neighbourhood partner countries throughout the implementation period of the EFSD Guarantee. __________________ 1aRegulation (EU) No 232/2014 of the European Parliament and of the Council of 11 March 2014 establishing a European Neighbourhood Instrument (OJ L 77, 15.3.2014, p. 27).

Amendment 154 #

Beatriz BECERRA BASTERRECHEA, Urmas PAET, Anneli JÄÄTTEENMÄKI, Nedzhmi ALI, Jozo RADOŠ, Hilde VAUTMANS, Ilhan KYUCHYUK

Proposal for a regulation
Recital 15 a (new)

(15a) The European Parliament should act to ensure maximum capacity vis-à-vis decision making on loans financing and investment to ensure the credibility and scrutiny of the EFSD.

Amendment 155 #

Beatriz BECERRA BASTERRECHEA, Anneli JÄÄTTEENMÄKI, Urmas PAET, Jozo RADOŠ, Ilhan KYUCHYUK, Hilde VAUTMANS, Nedzhmi ALI, Jasenko SELIMOVIC

Proposal for a regulation
Recital 15 b (new)

(15b) Calls for maximum efficiency and effectiveness in financing and investments' management under the EFSD.

Amendment 156 #

Beatriz BECERRA BASTERRECHEA, Anneli JÄÄTTEENMÄKI, Urmas PAET, Jozo RADOŠ, Hilde VAUTMANS, Ilhan KYUCHYUK, Nedzhmi ALI

Proposal for a regulation
Recital 16

(16) The Commission should report annually to the European Parliament and the Council on the financing and investment operations covered by the EFSD Guarantee, and the plans for coming year, with a view to ensuring full accountability to the European citizens. The report should be made public in order to allow relevant stakeholders, including civil society, to express their views. All other documents relating to the fund should be made publicly available, with a limited regime of exceptions. The Commission should also report annually to the European Parliament and the Council on the management of the EFSD Guarantee Fund so that accountability and transparency are ensured.

Amendment 157 #

Proposal for a regulation
Recital 16

Amendment 158 #

Doru-Claudian FRUNZULICĂ, Eider GARDIAZABAL RUBIAL, Soraya POST

Proposal for a regulation
Recital 16

(16) The Commission should report annually to the European Parliament and the Council on the financing and investment operations covered by the EFSD Guarantee with a view to ensuring accountability to the European citizens. The report should be made public in order to allow relevant stakeholders, including civil society, to express their views. The Commission should also report annually to the European Parliament and the Council on the management of the EFSD Guarantee Fund so that accountability ~~and transparency~~, transparency and the full budgetary scrutiny and control mechanism of the European Parliament are ensured.

Amendment 159 #

Proposal for a regulation
Recital 16

(16) The Commission should report annually to the European Parliament and the Council and the Joint Parliamentary Assembly ACP-EU on the financing and investment operations covered by the EFSD Guarantee with a view to ensuring accountability to the European citizens and partner countries. The report should be made public in order to allow relevant stakeholders, including civil society, to express their views. The Commission should also report annually to the European Parliament and the Council on the management of the EFSD Guarantee Fund so that accountability and transparency are ensured.

Amendment 160 #

Pina PICIERNO, Nicola CAPUTO

Proposal for a regulation
Recital 16

(16) The Commission sh~~ould~~all report annually to the European Parliament and the Council on the ~~financing and investment operations covered by~~effectiveness and success of the projects financed by and investments made under the EFSD Guarantee with a view to ensuring accountability to the European citizens. The report ~~should~~will be made public in order to allow relevant stakeholders, including civil society, to express their views. The Commission sh~~ould~~all also report annually to the European Parliament and the Council on the management of the EFSD Guarantee Fund so that accountability and transparency are ensured.

Amendment 161 #

Proposal for a regulation
Recital 16

(16) The Commission ~~should~~must report annually to the European Parliament and the Council on the financing and investment operations covered by the EFSD Guarantee with a view to ensuring accountability to the European citizens. The report ~~should~~must be made public in order to allow relevant stakeholders, including civil society, to express their views. The Commission ~~should~~must also report annually to the European Parliament and the Council on the management of the EFSD Guarantee Fund so that accountability and transparency are ensured.

Amendment 162 #

Fabio Massimo CASTALDO, Ignazio CORRAO, Marco VALLI

Proposal for a regulation
Recital 16

(16) The Commission ~~should~~must report annually to the European Parliament and the Council on the financing and investment operations covered by the EFSD Guarantee with a view to ensuring full accountability to the European citizens. The report ~~should~~must be made public in order to allow relevant stakeholders, including civil society, to express their views. The Commission ~~should~~must also report annually to the European Parliament and the Council on the management of the EFSD Guarantee Fund so that accountability and transparency are ensured.

Amendment 163 #

Eider GARDIAZABAL RUBIAL, Doru-Claudian FRUNZULICĂ, Soraya POST

Proposal for a regulation
Recital 16 a (new)

(16a) In order to ensure the monitoring and accountability of the EFSD and of the External Investment Plan, the European Parliament may organise regular and structured exchanges of views as part of an investment dialogue with the Commission, the High Representative, the EIB and other eligible financial institutions as well as private sector and civil society organisations.

Amendment 164 #

Paul RÜBIG, Maurice PONGA, Bogdan Brunon WENTA

Proposal for a regulation
Recital 16 a (new)

(16a) The Commission should ensure the accountability of the EFSD. The EIB and other eligible counterparts could be invited to participate in hearings organised by the European Parliament on the implementation of the EFSD.

Amendment 165 #

Beatriz BECERRA BASTERRECHEA, Urmas PAET, Anneli JÄÄTTEENMÄKI, Nedzhmi ALI, Jozo RADOŠ, Ilhan KYUCHYUK, Paavo VÄYRYNEN

Proposal for a regulation
Recital 17

(17) In order to take into account lessons learned and allow for further evolvement of the EFSD, the functioning of the EFSD and the use of the EFSD Guarantee Fund should be evaluated by the Commission and subjected to an annual consultation process with relevant stakeholders, including civil society organizations. The application of this Regulation should be evaluated independently in order to assess the level of conformity of the implementation with the legal basis, but also to establish the applicability and practicability of the Regulation in the achievement of its objectives.

Amendment 166 #

Proposal for a regulation
Recital 17

(17) In order to take into account lessons learned and allow for further evolvement of the EFSD, the functioning of the EFSD and the use of the EFSD Guarantee Fund should be evaluated by the Commission and external evaluators. The application of this Regulation should be evaluated independently in order to assess the level of conformity of the implementation with the legal basis, but also to establish the applicability and practicability of the Regulation in the achievement of its objectives.

Amendment 167 #

Paulo RANGEL

Proposal for a regulation
Recital 18

(18) ~~In order to protect the financial interests of the Union, with a view to establishing whether there has been~~With a view to fighting financial crime, in particular by uncovering cases of fraud, corruption, and money laundering or, and to combating any other illegal activity affecting the financial interests of the Union in connection with any financing and investment operations covered by this Regulation, the European Anti-Fraud Office (OLAF) is entitled to carry out investigations in accordance with Regulation (EU, Euratom) No 883/2013 of the European Parliament and of the Council26, Council Regulation (Euratom, EC) No 2185/9627 and Council Regulation (EC, Euratom) No 2988/9528. __________________ 26 Regulation (EU, Euratom) No 883/2013 Regulation (EU, Euratom) No 883/2013 of the European Parliament and of the Council of 11 September 2013 concerning investigations conducted by the European Anti-Fraud Office (OLAF) and repealing Regulation (EC) No 1073/1999 of the European Parliament and of the Council and Council Regulation (Euratom) No 1074/1999 (OJ L 248, 18.9.2013, p. 1). 27 Council Regulation (Euratom, EC) No 2185/96 of 11 November 1996 concerning on-the-spot checks and inspections carried out by the Commission in order to protect the European Communities’ financial interests against fraud and other irregularities (OJ L 292, 15.11.1996, p. 2). 28 Council Regulation (EC, Euratom) No 2988/95 of 18 December 1995 on the protection of the European Communities financial interests (OJ L 312, 23.12.1995, p. 1).

Amendment 168 #

Beatriz BECERRA BASTERRECHEA, Anneli JÄÄTTEENMÄKI, Urmas PAET, Jozo RADOŠ, Hilde VAUTMANS, Ilhan KYUCHYUK, Nedzhmi ALI, Paavo VÄYRYNEN, Marielle DE SARNEZ, Jasenko SELIMOVIC

Proposal for a regulation
Recital 19

(19) In order to contribute to the international fight against tax fraud, tax evasion, fraud, corruption and money- laundering, all financing through EFSD should be provided in a completely transparent manner. Furthermore the eligible counterparts should not support any activities carried out for illegal purposes ~~and should not~~nor participate in any financing or investment operation through a vehicle located in a non-cooperative jurisdiction. or in tax haven. Counterparts shall also refrain from making any use of tax avoidance or aggressive tax planning schemes.

Amendment 169 #

Eduard KUKAN, Doru-Claudian FRUNZULICĂ, Eider GARDIAZABAL RUBIAL

Proposal for a regulation
Recital 19

(19) In order to contribute to the international fight against tax fraud, tax evasion and money-laundering, the eligible counterparts should not support any activities carried out for illegal purposes ~~and should not~~or participate in any financing or investment operation through a vehicle located in a non-cooperative jurisdiction, nor should it make any use whatsoever of tax avoidance or evasion schemes.

Amendment 170 #

Paulo RANGEL

Proposal for a regulation
Recital 19

(19) ~~In order to contribute to the international fight against tax fraud, tax evasion and money-laundering, t~~The eligible counterparts should not support any activities carried out for illegal purposes and should not participate in any financing or investment operation through a vehicle located in a non-cooperative jurisdiction, given the need to contribute to the international fight against tax fraud, tax evasion and money laundering.

Amendment 171 #

Proposal for a regulation
Recital 19 a (new)

(19a) In order to reflect political developments and needs for Union action in the world, the power to adopt acts in accordance with Article 290 of the Treaty on the Functioning of the European Union should be delegated to the Commission in respect of amendments to the Annex of this Regulation listing the regions eligible for support through EFSD Guarantee. It is of particular importance that the Commission carry out appropriate consultations during its preparatory work, including at expert level, and that those consultations be conducted in accordance with the principles laid down in the Interinstitutional Agreement of 13 April 2016 on Better Law-Making 1a. In particular, to ensure equal participation in the preparation of delegated acts, the European Parliament and the Council receive all documents at the same time as Member States' experts, and their experts systematically have access to meetings of Commission expert groups dealing with the preparation of delegated acts. __________________ 1a OJ L 123, 12.5.2016, p. 1

Amendment 172 #

Beatriz BECERRA BASTERRECHEA, Anneli JÄÄTTEENMÄKI, Urmas PAET, Nedzhmi ALI, Jozo RADOŠ, Hilde VAUTMANS, Ilhan KYUCHYUK

Proposal for a regulation
Recital 20

Amendment 173 #

Xabier BENITO ZILUAGA, Lola SÁNCHEZ CALDENTEY, Miguel URBÁN CRESPO, Stelios KOULOGLOU

Proposal for a regulation
Recital 20

(20) In order to fulfil the political commitments of the EU on renewable energy, energy efficiency and climate change mitigation and adaptation, a minimum share of 240% ofor the funding should be allocated under the EFSD should be devoted to financing and investment operations relevant for these sectors thus contributing to the implementation of the Paris Agreement on Climate Change. When investments under the EFSD, the European Commission should also mainstream environmental sustainability criterion in all projects.

Amendment 174 #

Nicola CAPUTO

Proposal for a regulation
Recital 20

(20) In order to fulfil the political commitments of the EU on renewable energy and climate change a minimum share of 20% for the funding allocated under the EFSD should be devoted to financing and investment operations relevant for these sectors; for the same reason, activities related to fossil-fuel extraction or to non-renewable energies should not be granted access to funding.

Amendment 175 #

Proposal for a regulation
Recital 20

(20) In order to fulfil the political commitments of the EU on renewable energy, energy efficiency and climate change a minimum share of 240% for the funding allocated under the EFSD should be devoted to financing and investment operations relevant for these sectors.

Amendment 176 #

Proposal for a regulation
Recital 20 a (new)

(20a) In order to contribute to the implementation of the Paris Agreement on climate change, all EFSD funded projects should meet the Agreement's stated objective to align financial flows with low greenhouse gas emission and climate resilient development, thus supporting operations and projects that actively promote climate protection and resilience, while respecting land rights of local communities.

Amendment 177 #

Proposal for a regulation
Recital 20 a (new)

(20a) The EFSD Guarantee Fund should use a correct methodology to calculate the multiplier, so that a valid performance indicator can be obtained (to demonstrate the capital actually mobilised and avoid what happened to the EFSI, whose initially anticipated multiplier effect proved to have been overestimated, as stated in the opinion of the Court of Auditors).

Amendment 178 #

Proposal for a regulation
Recital 20 b (new)

(20b) Remittances' flows to developing countries are by far more important than official development flows. Therefore projects or instruments which facilitate the transfer of remittances and lower costs thereof should be eligible for funding allocated under the EFSD.

Amendment 179 #

Beatriz BECERRA BASTERRECHEA, Urmas PAET, Anneli JÄÄTTEENMÄKI, Ilhan KYUCHYUK, Nedzhmi ALI, Hilde VAUTMANS, Jozo RADOŠ, Marielle DE SARNEZ, Paavo VÄYRYNEN

Proposal for a regulation
Article 2 – paragraph 1 – point 5

(5) 'additionality' means the ~~principle~~evidence based operational approach ensuring that the EFSD Guarantee support contributes to sustainable development by achieving positive results above and beyond what could have been achieved without the support. It may not be aimed at replacing the support of a Member State, private funding or another Union financial intervention, as well as that it is aimed at addressing market failures and avoiding crowding out other public or private investments. It aims to bring development and value additionality as essential parts.

Amendment 180 #

Proposal for a regulation
Article 2 – paragraph 1 – point 5

(5) 'additionality' means the principle ensuring that the EFSD ~~Guarantee support~~support, including via blending facilities, contributes to sustainable development by achieving positive results above and beyond what could have been achieved without the support. Financial interventions may not be aimed at replacing the support of a Member State or third country, private funding or another Union financial intervention~~, as well as that it is aimed at addressing market failures and avoiding crowding out other public or private investments~~ or by an international financial institution.

Amendment 181 #

Patrizia TOIA

Proposal for a regulation
Article 3 – paragraph 1

1. The purpose of the EFSD as an integrated financial package shall be to ~~support~~foster sustainable and inclusive economic and social development and promote socio-economic resilience of partner countries by supporting investments, job creation, entrepreneurship and increased access to financing through the supply of financing capacity in the form of grants, guarantees and other financial instruments to eligible counterparts investments and increased access to financing starting in African and Neighbourhood partner countries., while maximising additionality, delivering innovative products and crowding in private sector funds;

Amendment 182 #

Proposal for a regulation
Article 3 – paragraph 1

1. The purpose of the EFSD as an integrated financial package shall be to support through the supply of financing capacity in the form of grants, guarantees and other financial instruments to eligible counterparts investments and increased access to financing starting in African and Neighbourhood partner countries, striving for a balanced coverage of partner countries within the respective regions, ensuring adequate presence of fragile and least developed countries and fostering regional integration.

Amendment 183 #

Xabier BENITO ZILUAGA, Lola SÁNCHEZ CALDENTEY, Miguel URBÁN CRESPO, Stelios KOULOGLOU

Proposal for a regulation
Article 3 – paragraph 1

1. The purpose of the EFSD as an integrated financial package shall be to ~~support~~guide, support and manage, through the supply of financing capacity in the form of grants, guarantees and other financial instruments to eligible counterparts, investments and increased access to financing starting in African and Neighbourhood partner countries.

Amendment 184 #

Proposal for a regulation
Article 3 – paragraph 1 a (new)

1a. A goal to be achieved is to reinforce the development cooperation policies focused in those most in need with a special focus on combating poverty and reducing inequalities. The funds have to be provided to feasible investment projects which in alignment with TEU Art 21 and the sustainable development goals, while following internationally agree development effectiveness principles and including local communities wills, without any detriment against the freedom of people's mobility.

Amendment 185 #

Xabier BENITO ZILUAGA, Lola SÁNCHEZ CALDENTEY, Miguel URBÁN CRESPO, Stelios KOULOGLOU

Proposal for a regulation
Article 3 – paragraph 2

2. The EFSD shall contribute to the achievement of the ~~Sustainable Development Goals of the 2030 Agenda with a particular focus on sustainabl~~principles underpinning the 2030 Agenda on Sustainable Development, such as that of leave no one behind, as well as all the Goals and targets therein, with an especially focus on combating poverty and inequalities, and shall be guided by the objectives set out in Articles 21 TEU and 208 TFEU and the internationally agreed development effectiveness principles- especially ownership, alignment, harmonisation, democratic accountability and results-, thus contributing to the Union's development objectives, with a particular focus on poverty eradication, inequality reductions, long-term sustainable and inclusive growth, decent job creation, technology transfer and the sharing of knowledge, socio-economic sectors and on the support to micro, small and medium sized enterprises~~, thus addressing~~. In so doing, the EFSD shall, inter alia, contribute to addressing specific socio-economic root causes of forced migration ~~and contributing to sustainable reintegration of returned migrants in their countries of origin while maximising additionality, delivering innovative products and crowding in private sector fund~~(poverty, inequality, demographic growth, lack of employment and economic opportunities and climate change among others) and foster sustainable reintegration of migrants when voluntarily willing to return to their countries of origin or transit, as well as strengthen resilience of host communities.

Amendment 186 #

Isabelle THOMAS, Jean-Paul DENANOT, Vincent PEILLON

Proposal for a regulation
Article 3 – paragraph 2

2. The EFSD shall contribute to the achievement of the Sustainable Development Goals of the 2030 Agenda ~~with a particular focus on sustainabl~~, leaving no one behind, and be guided by the objectives set out in Article 21 of the Treaty on European Union (TEU) and Article 208 TFEU and the internationally agreed development effectiveness principles, thus contributing to the Union's development and Neighbourhood policies and the new Partnership Framework with third countries under the European Agenda on Migration, with a particular focus on poverty eradication, long-term sustainable and inclusive growth, job creation, socio-economic sectors and on the support to micro, small and medium sized enterprises~~, thus addressing~~. In so doing, the EFSD shall, inter alia, contribute to addressing the specific socio-economic root causes of migration and ~~contributing to~~foster sustainable reintegration of ~~returned migrants in~~migrants returning to their countries of origin ~~while maximising additional~~or transity, ~~delivering innovative products and crowding in private sector fund~~as well as strengthen resilience of host communities.

Amendment 187 #

Proposal for a regulation
Article 3 – paragraph 2

2. The EFSD shall contribute to the achievement of the Sustainable Development Goals of the 2030 Agenda ~~with a particular focus on sustainabl~~and be guided by the objectives set out in Article 21 of the Treaty on European Union and Article 208 TFEU and the internationally agreed development effectiveness principles, thus contributing to the Union's development and Neighbourhood policies and the new Partnership Framework with third countries under the European Agenda on Migration, with a particular focus on poverty eradication, long-term sustainable and inclusive growth, ~~job~~the creation of decent jobs, socio-economic sectors and on the support to micro, small and medium sized enterprises~~, thus addressing~~. In so doing, the EFSD shall, inter alia, contribute to addressing the specific socio-economic root causes of migration ~~and contributing to~~, foster the sustainable reintegration of ~~returned migrants in~~migrants returning to their countries of origin ~~while maximising additionality, delivering innovative products and crowding in private sector fund~~and strengthen the resilience of host communities.

Amendment 188 #

Doru-Claudian FRUNZULICĂ, Eider GARDIAZABAL RUBIAL, Soraya POST

Proposal for a regulation
Article 3 – paragraph 2

2. The EFSD shall contribute to the achievement of the Sustainable Development Goals of the 2030 Agenda ~~with a particular focus on sustainabl~~and be guided by the objectives set out in Article 21 of the Treaty on European Union (TEU) and Article 208 TFEU and the internationally agreed development effectiveness principles, thus contributing to the Union's development and Neighbourhood policies, with a particular focus on poverty eradication, long-term sustainable and inclusive growth, job creation, socio-economic sectors and on the support to micro, small and medium sized enterprises~~, thus addressing~~. In so doing, the EFSD shall, inter alia, contribute to addressing the specific socio-economic root causes of migration and ~~contributing to~~foster sustainable reintegration of ~~returned migrants in~~migrants returning to their countries of origin ~~while maximising additional~~or transity, ~~delivering innovative products and crowding in private sector fund~~as well as strengthen resilience of host communities.

Amendment 189 #

Beatriz BECERRA BASTERRECHEA, Anneli JÄÄTTEENMÄKI, Urmas PAET, Jozo RADOŠ, Hilde VAUTMANS, Ilhan KYUCHYUK, Nedzhmi ALI

Proposal for a regulation
Article 3 – paragraph 2

2. The EFSD shall contribute to the achievement of the Sustainable Development Goals of the 2030 Agenda and the implementation of the European Neighbourhood policy with a particular focus on sustainable growth, job creation, socio-economic sectors and on the support to micro, small and medium sized enterprises~~, thus addressing~~. The EFSD shall also contribute to the implementation of the Paris Climate Agreement by targeting investments to sectors that advance climate change mitigation and adaptation. The EFSD shall thus address root causes of migration and contribut~~ing~~e to sustainable reintegration of returned migrants in their countries of origin while maximising additionality, delivering innovative products and crowding in private sector funds.

Amendment 190 #

Proposal for a regulation
Article 3 – paragraph 2

2. The EFSD shall contribute to the achievement of the Sustainable Development Goals of the 2030 Agenda with a particular focus on sustainable growth, job creation, socio-economic sectors and on the support to micro, small and medium sized enterprises, thus addressing root causes of forced migration such as (extreme) poverty, climate change, lack of prospects and income, and contributing to sustainable reintegration of strictly voluntary returned migrants in their countries of origin while maximising additionalitly, delivering innovative products and crowding in private sector funds which contribute to sustainable and inclusive economic, social and environmental development.

Amendment 191 #

Proposal for a regulation
Article 3 – paragraph 2

2. The EFSD shall contribute to the achievement of the Sustainable Development Goals of the 2030 Agenda with a particular focus on sustainable development, inclusive growth, job creation, poverty eradication, socio- economic sectors and on the development of the local private sector through the support to micro, small and medium sized enterprises, thus addressing root causes of migration and contributing to the sustainable reintegration of returned migrants in their countries of origin, while maximising additionality, delivering innovative products and solutions and crowding in private sector funds.

Amendment 192 #

Proposal for a regulation
Article 3 – paragraph 2

2. The EFSD shall contribute to the achievement of the Sustainable Development Goals of the 2030 Agenda, w~~ith a~~hile taking into account Article 208 TFEU, and particularly focus on sustainable growth, job creation, education for boys and girls, socio-economic sectors and on the support to micro, small and medium sized enterprises, ~~thus address~~which are, when lacking, root causes of migration and which can, when improved, contribut~~ing to~~e to the sustainable reintegration of returned migrants in their countries of origin while maximising additionality, delivering innovative products and crowding in private sector funds.

Amendment 193 #

Fabio Massimo CASTALDO, Ignazio CORRAO, Marco VALLI

Proposal for a regulation
Article 3 – paragraph 2

2. The EFSD shall contribute to the achievement of the Sustainable Development Goals of the 2030 Agenda with a particular focus on sustainable growth, job creation, socio-economic sectors and on the support to micro, small and medium sized enterprises, thus addressing root causes of migration and ~~contribu~~thereby helping to limit the overload of European migration channels, and furthermore promoting tohe sustainable reintegration of returned migrants in their countries of origin while maximising additionality, delivering innovative products and crowding in private sector funds.

Amendment 194 #

Proposal for a regulation
Article 3 – paragraph 2

2. The EFSD shall contribute to the achievement of the Sustainable Development Goals of the 2030 Agenda with a particular focus on sustainable growth, ~~job creation~~the involvement of local communities, job creation, creation of a circular economy, socio-economic sectors and on the support to micro, small and medium sized enterprises, thus addressing root causes of migration and contributing to sustainable reintegration of returned migrants in their countries of origin while maximising additionality, delivering innovative products and crowding in private sector funds.

Amendment 195 #

Proposal for a regulation
Article 3 – paragraph 2

2. The EFSD shall contribute to the achievement of the Sustainable Development Goals of the 2030 Agenda with a particular focus on sustainable growth, job creation, socio-economic sectors and on the support to micro, small and medium sized enterprises, thus addressing root causes of migration and contributing to sustainable reintegration of returned migrants in their countries of origin while maximising additionality, delivering innovative products, and operate in respect of development effectiveness principles like alignment to partner countries' priorities, untied aid and mutually agreed conditionalities, with a particular focus on sustainable growth, job creation, socio-economic sectors and on the support to micro, small and medium sized enterprises while ensuring additionality and crowding in private sector funds.

Amendment 196 #

Eider GARDIAZABAL RUBIAL, Soraya POST, Doru-Claudian FRUNZULICĂ

Proposal for a regulation
Article 3 – paragraph 2 a (new)

2a. In order to fulfil the political commitments of the EU on renewable energy, energy efficiency and climate change a minimum share of 40% for the funding allocated under the EFSD shall be devoted to financing and investment operations relevant for these sectors.

Amendment 197 #

Proposal for a regulation
Article 3 a (new)

Article 3a In the regions and countries where it operates, the EFSD shall contribute to the objectives set out in the basic acts of the relevant Union external financing instruments and shall be consistent with the priorities contained in the national or regional programmes, where available.

Amendment 198 #

Proposal for a regulation
Article 4 – paragraph 1

1. The EFSD shall be composed of regional investment platforms, which will combine financing from existing blending facilities and the EFSD Guarantee. The first two regional investment platforms shall cover Africa and the EU Neighbourhood, with the possibility of expanding the coverage to other regions of the ACP at a later stage, as well as Latin America and Asia.

Amendment 199 #

Proposal for a regulation
Article 4 – paragraph 1

1. The EFSD shall be composed of regional investment platforms, which will combine financing from existing blending facilities and the EFSD Guarantee, complemented by advisory hubs.

Amendment 200 #

Eider GARDIAZABAL RUBIAL, Doru-Claudian FRUNZULICĂ, Soraya POST

Proposal for a regulation
Article 4 – paragraph 2

~~2. The management of the EFSD shall be ensured by the Commission.~~deleted

Amendment 201 #

Proposal for a regulation
Article 4 – paragraph 2

2. The management of the EFSD shall be ensured by the Commission. The Commission shall work in close cooperation with the EIB and with the other eligible counterparts as regards the operational management of the EFSD Guarantee. To that end, a technical working group shall be put in place. An agreement shall be concluded with the EIB specifying the conditions of their cooperation in the management of the EFSD, in consultation with other eligible counterparts.

Amendment 202 #

Xabier BENITO ZILUAGA, Lola SÁNCHEZ CALDENTEY, Miguel URBÁN CRESPO, Stelios KOULOGLOU

Proposal for a regulation
Article 4 – paragraph 2

2. The management of the EFSD shall be ensured by the Commission., taking into account the guidelines and criteria proposed by the European Parliament and, with the democratic participation in the process of people and local communities from the regions where the investment would take place

Amendment 203 #

Proposal for a regulation
Article 4 – paragraph 2

2. The management of the EFSD shall be ensured by the Commission. The Commission shall work in close cooperation with EIB supported by European eligible counterparts as regards the operational management of the EFSD Guarantee.

Amendment 204 #

Lorenzo CESA

Proposal for a regulation
Article 4 – paragraph 2

2. The management of the EFSD shall be ensured by the Commission. The Commission shall work in close cooperation with the European Investment Bank (EIB) as regards the operational management of the EFSD guarantee

Amendment 205 #

Patrizia TOIA, Cécile Kashetu KYENGE, Goffredo Maria BETTINI

Proposal for a regulation
Article 5 – paragraph 1 – subparagraph 1

~~In the management of the EFSD the Commission shall be assisted by a strategic board.~~deleted

Amendment 206 #

Proposal for a regulation
Article 5 – paragraph 1 – subparagraph 1

In the management of the EFSD the Commission shall be assdvisted by a strategic board.

Amendment 207 #

Doru-Claudian FRUNZULICĂ, Eider GARDIAZABAL RUBIAL, Soraya POST

Proposal for a regulation
Article 5 – paragraph 1 – subparagraph 2

ItThe strategic board shall provide strategic guidance and support the Commission in setting overall investment goals as regards the use of the EFSD Guarantee~~. The strategic board shall also support overall co~~, as well as in monitoring an appropriate and diversified geographical and thematic coverage ford in~~ation and coherence between the regional investment platforms and with the external lending mandate operation~~vestment windows, while giving special attention to Least Developed Countries (LDCs) and fragile States. It shall make sure that the EFSD operations support the strategic priorities of Union external action and development policy, and in particular its guiding principles man~~aged by the EIB, including the EIB resilience initia~~d objectives as referred to Article 21 TEU and 208 TFEU respectively.

Amendment 208 #

Beatriz BECERRA BASTERRECHEA, Anneli JÄÄTTEENMÄKI, Urmas PAET, Jozo RADOŠ

Proposal for a regulation
Article 5 – paragraph 1 – subparagraph 2 a (new)

The strategic board shall support overall coordination, complementarity and coherence between the EFSD and existing strategies and instruments, national and geographic indicative programmes, the regional investment platforms, between the three pillars of the EIP and, between the EIP and the Union's efforts on the implementation of the Agenda 2030.

Amendment 209 #

Eider GARDIAZABAL RUBIAL, Doru-Claudian FRUNZULICĂ, Soraya POST

Proposal for a regulation
Article 5 – paragraph 1 a (new)

1a. As soon as possible in the implementation phase of the EFSD, the Strategic Board shall adopt and publish guidelines setting out in detail how conformity of EFSD operations with the objectives and eligibility criteria laid down in Art. 8 is to be ensured.

Amendment 210 #

Paul RÜBIG, Maurice PONGA, Eduard KUKAN, Bogdan Brunon WENTA

Proposal for a regulation
Article 5 – paragraph 1 a (new)

1a. The strategic board shall lay down its rules of procedure during the first meeting, which will include details on the number of meetings to be held by year, voting rights of board members and progress reports to be issued by the Commission.

Amendment 211 #

Xabier BENITO ZILUAGA, Lola SÁNCHEZ CALDENTEY, Miguel URBÁN CRESPO, Stelios KOULOGLOU

Proposal for a regulation
Article 5 – paragraph 2

2. The strategic board shall be composed of representatives of the Commission and of the High Representative of the Union for Foreign Affairs and Security Policy (High Representative), of the Member States, of the EIB and of the EIBuropean Parliament. The Commission ~~may~~shall invite other contributors to become members of the strategic board ~~having regard~~, where appropriate ~~to the view~~, with the accord of the board. Partner Countries and relevant regional organisations, the eligible counterparts ~~and the European Parliament~~ may be given observer status, where appropriate. The strategic board shall be co-chaired by the Commission and the High Representative. The Secretariat of the EFSD, as a newly formed unit under the auspices of the European Commission, should encompass members of all relevant DGs - DG DEVCO, DG NEAR, DG BUDG - and be positioned under the guidance of the High-Representative of the Union for Foreign Affairs and Security Policy, in order to benefit from the full weight and clout of the European Commission when taking crucial investment decisions.

Amendment 212 #

Proposal for a regulation
Article 5 – paragraph 2

2. The strategic board shall be composed of representatives of the Commission and of the High Representative of the Union for Foreign Affairs and Security Policy (High Representative), of the Member States and of the EIB. The European Parliament and representatives of local communities shall be invited as observers in order to enhance transparency and democratic accountability; The Commission may invite other contributors to become ~~memb~~observers of the strategic board having regard where appropriate to the view of the board. Partner Countries and relevant regional organisations, the eligible counterparts ~~and the European Parliament~~ may be given observer status, where appropriate. The strategic board shall be co-chaired by the Commission and the High Representative. The recommendations of the European Parliament shall be guide the priority lines of the Strategic Board. The European Parliament has to shall be duly informed about the accomplishment of them with an annual report.

Amendment 213 #

Paul RÜBIG, Maurice PONGA, Eduard KUKAN, Bogdan Brunon WENTA

Proposal for a regulation
Article 5 – paragraph 2

2. The strategic board shall be composed of representatives of the Commission and of the High Representative of the Union for Foreign Affairs and Security Policy (High Representative), of the contributing Member States and of the EIB. The Commission may invite other contributors to become members of the strategic board having regard where appropriate to the view of the board. ~~Partner C~~The European Parliament shall have observer status. Observers designated by Parliament shall have the right to contribute to the deliberations without the right to vote. Partner countries and relevant regional organisations, and the eligible counterparts ~~and the European Parliament~~ may be given observer status, where appropriate. The strategic board shall be co-chaired by the Commission and the High Representative.

Amendment 214 #

Beatriz BECERRA BASTERRECHEA, Anneli JÄÄTTEENMÄKI, Urmas PAET, Jozo RADOŠ, Hilde VAUTMANS, Ilhan KYUCHYUK, Nedzhmi ALI

Proposal for a regulation
Article 5 – paragraph 2

2. The strategic board shall be composed of representatives of the Commission and of the High Representative of the Union for Foreign Affairs and Security Policy (High Representative), of the Member States, the European Parliament and of the EIB. The Commission ~~may~~shall invite other contributors to become members of the strategic board having regard ~~where appropriate~~ to the view of the board. ~~Partner Countries and r~~Relevant regional organisations, ~~the eligible counterparts and the European Parliament~~and other stakeholders such as civil society groups may be given observer status, where appropriate. The strategic board shall be co-chaired by the Commission and the High Representative. The strategic board shall ensure proper consultation of a diversity of stakeholders in partner countries.

Amendment 215 #

Proposal for a regulation
Article 5 – paragraph 2

2. The strategic board shall be composed of representatives of the Commission and of the High Representative of the Union for Foreign Affairs and Security Policy (High Representative), of the Member States ~~and~~, of the EIB~~. The Commission may invite oth~~, and of partner countri~~butors to become members of the strategic board having regard where appropriate to the view of the board. Partner Countries and r~~es. The European Parliament shall participate in the strategic board as a permanent observer with the right to participate fully in its deliberations. Relevant regional organisations, othe ~~eligible~~r count~~erparts~~ributors, and othe ~~European Parliament~~r stakeholders such as civil society groups may be given observer status, where appropriate. The strategic board shall be co-chaired by the Commission and the High Representative.

Amendment 216 #

Pina PICIERNO, Nicola CAPUTO

Proposal for a regulation
Article 5 – paragraph 2

2. The strategic board shall be composed of representatives of the Commission and of the High Representative of the Union for Foreign Affairs and Security Policy (High Representative), of the Member States and of the EIB. The Commission may invite other contributors, including relevant representatives of European Parliament bodies, to become members of the strategic board having regard where appropriate to the view of the board. Partner Countries and relevant regional organisations, the eligible counterparts and the European Parliament may be given observer status, where appropriate. The strategic board shall be co-chaired by the Commission and the High Representative.

Amendment 217 #

Proposal for a regulation
Article 5 – paragraph 2

Amendment 218 #

Eider GARDIAZABAL RUBIAL, Doru-Claudian FRUNZULICĂ, Soraya POST

Proposal for a regulation
Article 5 – paragraph 2

Amendment 219 #

Proposal for a regulation
Article 5 – paragraph 2

2. The strategic board shall be composed of representatives of the Commission and of the High Representative, of the ~~Union for Foreign Affairs and Security Policy (High Representative), of the~~contributing Member States and of the EIB. The Commission may invite other contributors to become members of the strategic board having regard where appropriate to the view of the board. ~~Partner C~~The European Parliament shall have observer status. Observers designated by the European Parliament shall have the right to contribute to the deliberations without the right to vote. Partner countries and relevant regional organisations, and the eligible counterparts ~~and the European Parliament~~ may be given observer status, where appropriate. The strategic board shall be co-chaired by the Commission and the High Representative.

Amendment 220 #

Beatriz BECERRA BASTERRECHEA, Urmas PAET, Anneli JÄÄTTEENMÄKI, Jozo RADOŠ, Hilde VAUTMANS, Ilhan KYUCHYUK, Nedzhmi ALI

Proposal for a regulation
Article 5 – paragraph 2 a (new)

2a. The minutes of the strategic board shall be published as soon as they are approved by the strategic board.

Amendment 221 #

Beatriz BECERRA BASTERRECHEA, Anneli JÄÄTTEENMÄKI, Urmas PAET, Jozo RADOŠ, Hilde VAUTMANS, Ilhan KYUCHYUK, Paavo VÄYRYNEN, Nedzhmi ALI

Proposal for a regulation
Article 5 – paragraph 2 b (new)

2b. The strategic board should organize annual consultations of relevant stakeholders on the orientation and the implementation of the EFSD as well as the impact on the eradication of poverty and reduction of inequalities. This shall take the form of a civil society advisory board which will ensure that the environmental, social and human rights standards are adequately implemented and respected.

Amendment 222 #

Paul RÜBIG, Maurice PONGA, Eduard KUKAN, Bogdan Brunon WENTA

Proposal for a regulation
Article 5 a (new)

Article 5a Regional operational boards 1. Each regional investment platform shall have an operational board. 2. Those operational boards shall support the Commission in defining regional and sectoral investment goals and regional, sectoral and thematic investment windows and shall formulate opinions on blending operations and on the use of the EFSD Guarantee. They shall, in particular, provide guidance on future financing proposals, monitor and review the pipeline of projects, examine project-related results and monitor the portfolio of approved projects. 3. The operational boards shall be chaired by the Commission and be composed of representatives of the Commission, of the High Representative and of the Member States as voting members, and, when appropriate, of the eligible counterparts as observers. The European Parliament shall be granted observer status. 4. The Commission and the High Representative of the Union for Foreign Affairs and Security (High Representative) shall ensure the intensive involvement of the European Union Delegations and of the eligible counterparts in preparing the work of the operational boards.

Amendment 223 #

Eider GARDIAZABAL RUBIAL, Doru-Claudian FRUNZULICĂ, Soraya POST

Proposal for a regulation
Article 5 a (new)

Article 5a Advisory Hubs Neighbourhood region and Africa 1. Advisory Hubs shall have as its objective to build upon existing advisory services in order to provide advisory support and capacity building for the identification, preparation and development and long term maintenance of projects and to act as technical advisory hubs for project financing within the Neighbourhood region or Africa. Such support shall include providing targeted support on the use of technical assistance for project structuring, on the use of innovative financial instruments and advice, as appropriate, on relevant issues relating to Union law, taking into account the specificities and needs of partner countries. 2. The advisory hubs shall provide services in addition to those already available under other Union programmes, including: (a) providing a single point of entry for technical assistance for authorities and project promoters; (b) assisting project promoters, where appropriate, in developing their projects so that they fulfil the eligibility criteria and contribute to the Sustainable Development Goals of the 2030 Agenda. (c) leveraging local knowledge (d) providing a platform for peer-to- peer exchange and sharing of know-how regarding project development; (e) providing advice on the establishment of investment platforms 3. Advisory hub services shall be available for public and private project promoters, including national promotional banks or institutions and investment platforms or funds and regional and local public entities. 4. Advisory hubs shall contribute to the setting up of local monitoring groups comprising a diverse group of local stakeholders. 5. The Union shall contribute up to a maximum of EUR 10 000 000 per annum towards covering the costs of advisors hubs.

Amendment 224 #

Proposal for a regulation
Article 5 a (new)

Article 5a Technical assistance and advisory support The Commission and the High Representative, through a central secretariat as well the Union delegations, shall act as a single point of entry for authorities, and project promoters. It shall proactively provide advisory support in the identification, preparation, development and promotion of investment projects, on the use of technical assistance for project structuring, and on the use of innovative financial instruments and public-private partnerships as well as on identifying opportunities for promoting gender equality. In doing so, it shall seek to use the expertise of the EIB and other eligible counterparts. The Commission shall maintain a public investment pipeline containing current projects and attracting future ones under the EFSD. It shall establish a dedicated project web-portal. In the context of the annual budgetary procedure, the budgetary authority may decide to reinforce the relevant programmes with a view to increase the amount for technical assistance. Technical assistance may also be used to achieve the objectives set out in Art. 5 c on policy dialogue.

Amendment 225 #

Eider GARDIAZABAL RUBIAL, Doru-Claudian FRUNZULICĂ, Soraya POST

Proposal for a regulation
Article 5 b (new)

Article 5b Policy dialogue In the context of the Union's existing political relations with partner countries, the Commission and the High Representative shall maintain policy dialogues aimed at improving the investment climate and overall policy environment and developing legal frameworks, policies and institutions that are more effective and promote economic stability, sustainable investment and inclusive growth. The policy dialogues shall include, among other issues, the fight against corruption and organised crime, illicit financial flows, sustainable energy and climate action, respect of human rights and the rule of law as well as gender-responsive policies with a focus on addressing the policy and regulatory restrictions, which contribute to gender gaps in access to finance and entrepreneurship. In implementing the EFSD, its governing bodies and the Commission shall look more favourably to financing and investment operations in partner countries that undertake measures aimed at facilitating the success of investments backed by the EFSD and at contributing further to achieving the objectives set out in this Regulation.

Amendment 226 #

Fabio Massimo CASTALDO, Ignazio CORRAO, Marco VALLI

Proposal for a regulation
Article 6 – paragraph 1

1. The Union shall provide a~~n irrevocable and unconditional guarantee on first demand~~ guarantee to the eligible counterpart for the financing and investment operations covered by this Regulation starting in the African and Neighbourhood partner countries.

Amendment 227 #

Eduard KUKAN, Doru-Claudian FRUNZULICĂ, Eider GARDIAZABAL RUBIAL

Proposal for a regulation
Article 6 – paragraph 1

1. The Union shall provide an irrevocable ~~and unconditional~~ guarantee on first demand to the eligible counterpart for the financing and investment operations covered by this Regulation starting in the African and Neighbourhood partner countries.

Amendment 228 #

Proposal for a regulation
Article 6 – paragraph 1 a (new)

1a. The EFSD Guarantee shall support financing and investment operations in partner countries in the regions included in the Annex to this Regulation. The Commission shall be empowered to adopt delegated acts in accordance with Article 20a concerning amendments to the Annex.

Amendment 229 #

Beatriz BECERRA BASTERRECHEA, Urmas PAET, Anneli JÄÄTTEENMÄKI, Jozo RADOŠ, Hilde VAUTMANS, Ilhan KYUCHYUK, Nedzhmi ALI, Jasenko SELIMOVIC

Proposal for a regulation
Article 6 – paragraph 2 a (new)

2a. The Commission shall establish and make public a scoreboard of indicators covering all three dimensions of sustainable development to be used for the selection of the economically viable projects, to ensure an independent and transparent assessment of the potential and actual use of the EU guarantee.

Amendment 230 #

Eider GARDIAZABAL RUBIAL, Doru-Claudian FRUNZULICĂ, Soraya POST

Proposal for a regulation
Article 7 – paragraph 1

1. The granting of the EFSD 1. Guarantee shall be subject to the conclusion of the respective EFSD guarantee agreement between the Commission on behalf of the Union and the eligible counterpart, in accordance with the principles and objectives of the EU's external action.

Amendment 231 #

Proposal for a regulation
Article 7 – paragraph 3

3. The maximum period allowed for eligible counterparts to conclude agreements with co-financing private sector partners, financial intermediaries or final beneficiaries shall be four years after the conclusion of the relevant guarantee agreement.

Amendment 232 #

Proposal for a regulation
Article 8 – title

Eligibility and debarment criteria for the use of the EFSD Guarantee

Amendment 233 #

Doru-Claudian FRUNZULICĂ, Eider GARDIAZABAL RUBIAL, Soraya POST

Proposal for a regulation
Article 8 – paragraph 1 – introductory part

1. The financing and investment operations eligible for support through the EFSD Guarantee shall be in line with the purpose of the EFSD as described in Article 3. They shall be consistent and aligned with Union policies, in particular development and neighbourhood policies of the Union, as well as the partner countries' strategies and policies. Operations shall take into account other EU and international support to ensure complementarity with other initiatives and aim at supporting the following general objectives:

Amendment 234 #

Proposal for a regulation
Article 8 – paragraph 1 – introductory part

1. The financing and investment operations eligible for support through the EFSD Guarantee shall be in line with the purpose of the EFSD, as described in Article 3, and in full respect of the list of excluded activities listed in Article 20. They shall be consistent and aligned with Union policies, in particular development and neighbourhood policies of the Union, as well as the partner countries' strategies and policies and ~~aim at~~ support~~ing~~ the following ~~general~~ objectives:

Amendment 235 #

Xabier BENITO ZILUAGA, Lola SÁNCHEZ CALDENTEY, Miguel URBÁN CRESPO, Stelios KOULOGLOU

Proposal for a regulation
Article 8 – paragraph 1 – introductory part

1. The financing and investment operations eligible for support through the EFSD Guarantee shall be consistent and aligned with Union policies, in particular development and neighbourhood policies of the Union as well as the foreign policy principles laid down in article 21 TEU, the partner countries' strategies and policies and aim at supporting the following general objectives:

Amendment 236 #

Proposal for a regulation
Article 8 – paragraph 1 – point a

(a) contribute to economic, endogenous and social development, with particular focus on ~~sustainability and job creation (in particular for youth and women), thus addressing~~the achievement of the Sustainable Development Goals, having its essential focus on poverty eradication and inequality reductions; This operations shall be guided by the objectives set out in Articles 21 TEU and 208 TFEU and the internationally agreed development effectiveness principles- especially ownership, alignment, harmonization, democratic accountability and results-, thus contributing to the Union's development policy objectives, with a particular focus on poverty eradication, inequality reductions, long- term sustainable and inclusive growth, decent job creation, technology transfer and the sharing of knowledge, socio- economic sectors and on the support to local micro, small and medium sized enterprises. In so doing, the EFSD shall, inter alia, contribute to addressing specific socio-economic root causes of forced migration ~~and contributing to sustainable reintegration of returned migrants in their countries of origin;~~ (poverty, inequality, demographic growth, lack of employment and economic opportunities and climate change among others), and foster sustainable reintegration of migrants when voluntarily willing to return to their countries of origin or transit, as well as strengthen resilience of host communities by boosting the creation of sustainable and decent jobs, in particular for youth and women;

Amendment 237 #

Isabelle THOMAS, Jean-Paul DENANOT, Vincent PEILLON

Proposal for a regulation
Article 8 – paragraph 1 – point a

(a) contribute to economic and social development and to the achievement of the UN Sustainable Development Goals, with a particular focus on ~~sustainability and job creation (in particular for youth and women)~~poverty eradication, sustainability and fostering decent employment, economic opportunities and entrepreneurship, promoting, in particular, gender equality and the empowerment of women and young people, thus addressing specific root causes of migration, enhancing resilience and contributing to the sustainable reintegration of ~~returned migrants in~~migrants returned to their countries of origin, while strengthening the rule of law, good governance and human rights;

Amendment 238 #

György HÖLVÉNYI

Proposal for a regulation
Article 8 – paragraph 1 – point a

(a) contribute to economic and social development, with particular focus on ~~sustainability and job creation (in particular for youth and women)~~poverty eradication, sustainability and fostering decent employment, economic opportunities and entrepreneurship, promoting, in particular gender equality and the empowerment of women and young people, thus addressing specific root causes of migration, enhancing resilience and contributing to the sustainable reintegration of ~~returned migrants in their countries of origin;~~migrants returned to their countries of origin, with due regard to the strengthening of the rule of law, good governance and human rights, in order to prevent radicalization.

Amendment 239 #

Beatriz BECERRA BASTERRECHEA, Urmas PAET, Anneli JÄÄTTEENMÄKI, Hilde VAUTMANS, Ilhan KYUCHYUK, Nedzhmi ALI

Proposal for a regulation
Article 8 – paragraph 1 – point a

(a) contribute to economic and social development, with particular focus on sustainability and sustainable job creation (in particular for youth and women)~~, thus addressing root causes of migration and contributing to sustainable reintegration of returned migrants in their countries of origin~~;

Amendment 240 #

Proposal for a regulation
Article 8 – paragraph 1 – point a

(a) contribute to economic and social development, with particular focus on sustainability ~~and job creation (in particular for youth and~~, providing young people, and in particular women), ~~thus addressing root causes of migration and contributing to sustainable reintegration of returned migrants in their countries of origi~~with the right skills and decent job creation;

Amendment 241 #

Xabier BENITO ZILUAGA, Lola SÁNCHEZ CALDENTEY, Miguel URBÁN CRESPO, Stelios KOULOGLOU

Proposal for a regulation
Article 8 – paragraph 1 – point a

(a) contribute to economic and social development, with particular focus on sustainability and job creation (in particular for youth and women), ~~thus addressing~~which are root causes of migration and an improvement of which can contribut~~ing~~e to sustainable reintegration of returned migrants in their countries of origin;

Amendment 242 #

Proposal for a regulation
Article 8 – paragraph 1 – point a a (new)

(aa) The financing and investment operations eligible for support through the EFSD Guarantee shall never be used as a form of conditionality for beneficiary countries cooperation with the EU on migration issues;

Amendment 243 #

Beatriz BECERRA BASTERRECHEA, Anneli JÄÄTTEENMÄKI, Urmas PAET, Ilhan KYUCHYUK, Nedzhmi ALI, Hilde VAUTMANS, Jozo RADOŠ, Marielle DE SARNEZ, Paavo VÄYRYNEN

Proposal for a regulation
Article 8 – paragraph 1 – point a a (new)

(aa) achieve the Sustainable Development Goals of the 2030 Agenda with a specific focus on poverty eradication, reducing inequalities and domestic resource mobilisation;

Amendment 244 #

Xabier BENITO ZILUAGA, Lola SÁNCHEZ CALDENTEY, Miguel URBÁN CRESPO, Stelios KOULOGLOU

Proposal for a regulation
Article 8 – paragraph 1 – point b

(b) ~~target~~strengthen socio-economic sectors, in particular infrastructure including ~~sustain~~clean and renewable energy, water, ~~transport~~low-carbon mobility, green technology, information and communications technologies, environment, sustainable use of natural resources and blue growth, s~~ocial infrastructure, human capital, in order to improve the socio-economic environment;~~ustainable consumption and production, human capital, with the objective of promoting an inclusive and sustainable socio-economic development that benefits all and leaves no one behind

Amendment 245 #

Beatriz BECERRA BASTERRECHEA, Urmas PAET, Anneli JÄÄTTEENMÄKI, Jozo RADOŠ, Hilde VAUTMANS, Ilhan KYUCHYUK, Nedzhmi ALI

Proposal for a regulation
Article 8 – paragraph 1 – point b

(b) target socio-economic sectors, in particular infrastructure including sustainable and renewable energy, water, ~~transport~~waste, low-carbon mobility, information and communications technologies, environment, sustainable use of natural resources and blue growth, ~~social infrastructure, human capital, in order to improve the socio-economic environment~~human capital,, with the objective of promoting an inclusive and sustainable socio-economic development that benefits all and leaves no one behind;

Amendment 246 #

Isabelle THOMAS, Jean-Paul DENANOT, Vincent PEILLON

Proposal for a regulation
Article 8 – paragraph 1 – point b

(b) ~~target~~strengthen a number of socio- economic sectors, in particular infrastructure including ~~sustain~~renewable energy, water, transport, information and communications technologies, environment, sustainable use of natural resources and blue growth, social infrastructure, human capital and education and lifelong learning, in order to improve the socio-economic environment;

Amendment 247 #

Proposal for a regulation
Article 8 – paragraph 1 – point b

(b) target socio-economic sectors, in particular infrastructure including ~~sustain~~renewable energy, water, low-carbon transport, information and communications technologies, environment, sustainable use of natural resources, agro-ecological farming and blue growth, social infrastructure, human capital, in order to improve the socio-economic environment;

Amendment 248 #

Fabio Massimo CASTALDO, Ignazio CORRAO, Marco VALLI

Proposal for a regulation
Article 8 – paragraph 1 – point b

(b) target socio-economic sectors, in particular infrastructure including sustainable energy, water, transport, information and communications technologies, environment, sustainable use of natural resources and blue growth, social infrastructure, human capital, in order to fight poverty and to improve the socio- economic environment;

Amendment 249 #

Proposal for a regulation
Article 8 – paragraph 1 – point b

(b) target socio-economic sectors, in particular infrastructure including sustainable energy, water, transport, information and communications technologies, environment, sustainable use of natural resources and blue growth, social infrastructure, human capital, the circular economy, in order to improve the socio- economic environment;

Amendment 250 #

Doru-Claudian FRUNZULICĂ, Eider GARDIAZABAL RUBIAL, Soraya POST

Proposal for a regulation
Article 8 – paragraph 1 – point b

(b) target socio-economic sectors, in particular infrastructure including sustainable energy, water, transport, information and communications technologies, digital innovation, environment, sustainable use of natural resources and blue growth, social infrastructure, human capital, in order to improve the socio-economic environment;

Amendment 251 #

Proposal for a regulation
Article 8 – paragraph 1 – point b

(b) ~~target~~strengthen socio-economic sectors, in particular infrastructure including renewable and sustainable energy, water and waste, transport, information and communications technologies, environment, sustainable use of natural resources and blue growth, social infrastructure, human capital, in order to improve the socio-economic environment;

Amendment 252 #

Fabio Massimo CASTALDO, Ignazio CORRAO, Marco VALLI

Proposal for a regulation
Article 8 – paragraph 1 – point b a (new)

(ba) specifically focus on Africa's growing technology sector in order to provide start-up's and SME's with the capital and know-how to catch up and compete with international technologic developments and in light of the positive impact technology may have on development;

Amendment 253 #

Proposal for a regulation
Article 8 – paragraph 1 – point b a (new)

(ba) involve people living in the areas concerned in planning the projects funded;

Amendment 254 #

Doru-Claudian FRUNZULICĂ, Eider GARDIAZABAL RUBIAL, Soraya POST

Proposal for a regulation
Article 8 – paragraph 1 – point c

(c) ~~provide finance in favour of~~support private sector development with a particular focus on local companies and micro-, small- and medium- sized enterprises ~~with a particular focus on private sector development~~especially those operating in fragile states and LDCs;

Amendment 255 #

Proposal for a regulation
Article 8 – paragraph 1 – point c

(c) provide finance in favour of micro-, small- and medium-sized enterprises with a particular focus on private sector development; and in so doing priority must be given to strengthening existing economic structures and creating new structures where they are lacking.

Amendment 256 #

Beatriz BECERRA BASTERRECHEA, Anneli JÄÄTTEENMÄKI, Urmas PAET, Jozo RADOŠ, Hilde VAUTMANS, Ilhan KYUCHYUK, Paavo VÄYRYNEN, Nedzhmi ALI

Proposal for a regulation
Article 8 – paragraph 1 – point c

(c) provide finance, including in local currency, and capacity development programmes in favour of micro-, small- and medium-sized enterprises with a particular focus on private and cooperative sector development in partner countries;

Amendment 257 #

Proposal for a regulation
Article 8 – paragraph 1 – point c

(c) provide financ~~e in favour~~ial support to private sector development with a particular focus ofn micro- , small- and medium-sized enterprises, w~~ith a particular focus on private sector development~~hile addressing market failures and limiting market distortions;

Amendment 258 #

Proposal for a regulation
Article 8 – paragraph 1 – point c

(c) provide ~~finance in favour of~~support mechanisms and finance for micro- , small- and medium- sized enterprises with a particular focus on private sector development and local entrepreneurship;

Amendment 259 #

Xabier BENITO ZILUAGA, Lola SÁNCHEZ CALDENTEY, Miguel URBÁN CRESPO, Stelios KOULOGLOU

Proposal for a regulation
Article 8 – paragraph 1 – point c

(c) provide finance in favour of micro-, small- and medium-sized enterprises ~~with a particular focus on private sector development~~;

Amendment 260 #

Proposal for a regulation
Article 8 – paragraph 1 – point c

(c) provide finance in favour of local micro-, small- and medium-sized enterprises with a particular focus on ~~private sector development~~sustainably boosting local community economy;

Amendment 261 #

Paul RÜBIG, Maurice PONGA, Eduard KUKAN, Bogdan Brunon WENTA

Proposal for a regulation
Article 8 – paragraph 1 – point c

(c) ~~provide finance in favour of micro-, small- and medium-sized enterprises with a particular focus on private sector development~~support private sector development, with a particular focus on local and European companies as well as micro, small and medium-sized enterprises;

Amendment 262 #

Fabio Massimo CASTALDO, Ignazio CORRAO, Marco VALLI

Proposal for a regulation
Article 8 – paragraph 1 – point c

(c) provide finance in favour of micro-, small- and medium-sized enterprises with a particular focus on private and cooperative sector development;

Amendment 263 #

Proposal for a regulation
Article 8 – paragraph 1 – point c

(c) provide finance in favour of micro-, small- and medium-sized enterprises with a particular focus on local private sector development;

Amendment 264 #

Doru-Claudian FRUNZULICĂ, Eider GARDIAZABAL RUBIAL, Soraya POST

Proposal for a regulation
Article 8 – paragraph 1 – point d

(d) provide financial instruments aimed at addressing the bottlenecks to private investments, including first loss guarantees to portfolios guarantees to private sector projects such as loan guarantees for small and medium-sized enterprises and guarantees for specific risks for infrastructure projects and other risk capital;deleted

Amendment 265 #

Proposal for a regulation
Article 8 – paragraph 1 – point d

(d) ~~provide financial instruments aimed at addressing the bottlenecks to private invest~~address bottlenecks to private investments by providing financial instruments, including first loss guarantees to portfolios guarantees to private sector projects such as loan guarantees for small and medium-sized enterprises and guarantees for specific risks for infrastructure projects and other risk capital; financial instruments provided may include be denominated in local currencies of partner countries;

Amendment 266 #

Xabier BENITO ZILUAGA, Lola SÁNCHEZ CALDENTEY, Miguel URBÁN CRESPO, Stelios KOULOGLOU

Proposal for a regulation
Article 8 – paragraph 1 – point d

(d) provide sustainable financial instruments aimed at addressing the bottlenecks to ~~private~~local investments, including first loss guarantees to portfolios guarantees to ~~private sector~~local projects such as loan guarantees for small and medium-sized enterprises ~~and guarantees for specific risks for infrastructure projects and other risk capital~~;

Amendment 267 #

Proposal for a regulation
Article 8 – paragraph 1 – point d

(d) provide financial instruments aimed at addressing the bottlenecks to private investments with a positive developmental impact, including first loss guarantees to portfolios guarantees to private sector projects such as loan guarantees for small and medium-sized enterprises and guarantees for specific risks for infrastructure projects and other risk capital;

Amendment 268 #

Xabier BENITO ZILUAGA, Lola SÁNCHEZ CALDENTEY, Miguel URBÁN CRESPO, Stelios KOULOGLOU

Proposal for a regulation
Article 8 – paragraph 1 – point d

(d) provide financial instruments, including in local currency, aimed at addressing the bottlenecks to private investments, including first loss guarantees to portfolios guarantees to private sector projects such as loan guarantees for small and medium-sized enterprises and guarantees for specific risks for infrastructure projects and other risk capital;

Amendment 269 #

Proposal for a regulation
Article 8 – paragraph 1 – point e

~~(e) maximise private sector leverage by addressing bottlenecks to investment.~~deleted

Amendment 270 #

Paul RÜBIG, Maurice PONGA, Eduard KUKAN, Bogdan Brunon WENTA

Proposal for a regulation
Article 8 – paragraph 1 – point e

(e) maximise private sector leverage, with a particular focus on micro-, small and medium-sized enterprises by addressing bottlenecks to investment.

Amendment 271 #

Doru-Claudian FRUNZULICĂ, Eider GARDIAZABAL RUBIAL, Soraya POST

Proposal for a regulation
Article 8 – paragraph 1 – point e a (new)

(ea) contribute to climate action, environmental protection and management, thus producing climate co- benefits allocating at least 35 % of the financing to investments with components that contribute to climate action, renewable energy and resource efficiency.

Amendment 272 #

Beatriz BECERRA BASTERRECHEA, Urmas PAET, Anneli JÄÄTTEENMÄKI, Jozo RADOŠ, Hilde VAUTMANS, Ilhan KYUCHYUK, Paavo VÄYRYNEN, Nedzhmi ALI

Proposal for a regulation
Article 8 – paragraph 2 – point a

(a) provide additionality; in particular, development additionality as defined in article 2;

Amendment 273 #

Beatriz BECERRA BASTERRECHEA, Anneli JÄÄTTEENMÄKI, Urmas PAET, Hilde VAUTMANS, Ilhan KYUCHYUK, Nedzhmi ALI

Proposal for a regulation
Article 8 – paragraph 2 – point a a (new)

(aa) allocate at least 40% of the financing to investments with the principle objective of climate action;

Amendment 274 #

Proposal for a regulation
Article 8 – paragraph 2 – point a b (new)

(ab) allocate at least 35% of the financing to investments with the principle objective of climate action.

Amendment 275 #

Beatriz BECERRA BASTERRECHEA, Anneli JÄÄTTEENMÄKI, Urmas PAET, Jozo RADOŠ, Hilde VAUTMANS, Ilhan KYUCHYUK, Nedzhmi ALI

Proposal for a regulation
Article 8 – paragraph 2 – point b a (new)

(ba) are implemented in full respect of the Human Rights conventions, the OECD Guidelines for Multi-National Enterprises, the UN Guiding Principles on Business and Human Rights, the ILO conventions and standards, the Maastricht Principles on the Extraterritorial Obligations of States in the Area of Economic, Social and Cultural Rights and the FAO Voluntary Guidelines on the Responsible Governance of Tenure of Land, Fisheries and Forests in the Context of National Food Security;

Amendment 276 #

Xabier BENITO ZILUAGA, Lola SÁNCHEZ CALDENTEY, Miguel URBÁN CRESPO, Stelios KOULOGLOU

Proposal for a regulation
Article 8 – paragraph 2 – point c

(c) are economically and financially viable, taking also into account the possible support forom, and co-financing ~~by, private and public partners to~~of, the project;

Amendment 277 #

Beatriz BECERRA BASTERRECHEA, Anneli JÄÄTTEENMÄKI, Urmas PAET, Jozo RADOŠ, Hilde VAUTMANS, Ilhan KYUCHYUK, Paavo VÄYRYNEN, Nedzhmi ALI

Proposal for a regulation
Article 8 – paragraph 2 – point c a (new)

(ca) respect the principles of development effectiveness including untied aid, democratic ownership, alignment and mutual accountability;

Amendment 278 #

Proposal for a regulation
Article 8 – paragraph 2 – point d

(d) are technically viable and are sustainable from an environmental and social point of view while respecting human rights; and

Amendment 279 #

Xabier BENITO ZILUAGA, Lola SÁNCHEZ CALDENTEY, Miguel URBÁN CRESPO, Stelios KOULOGLOU

Proposal for a regulation
Article 8 – paragraph 2 – point e

(e) maximise ~~the mobilisation of private sector capital~~local investment capacity, ensuring that private investment aligns with democratically agreed socially useful public projects, while being also responsible of the investment in order to avoid the privatization of profits and the socialization of loses which could derivate from the investments.

Amendment 280 #

Proposal for a regulation
Article 8 – paragraph 2 – point e

(e) m~~aximise the mobilisation of~~obilise significantly private sector capital.;

Amendment 281 #

Proposal for a regulation
Article 8 – paragraph 2 – point e a (new)

(ea) respect the principle of development effectiveness as endorsed in the Busan Partnership for Effective Development Cooperation and reaffirmed in Nairobi in December 2016.

Amendment 282 #

Proposal for a regulation
Article 8 – paragraph 2 – point e a (new)

(ea) respect the principles of development effectiveness as set out in the Busan Partnership Agreement, including untied aid; and

Amendment 283 #

Fabio Massimo CASTALDO, Ignazio CORRAO, Marco VALLI

Proposal for a regulation
Article 8 – paragraph 2 – point e a (new)

(ea) ensure long term local capacity is fostered for maintenance and other long term tasks required to ensure the sustainability of the operations;

Amendment 284 #

Proposal for a regulation
Article 8 – paragraph 2 – point e a (new)

(ea) are not in any way linked to non- cooperative jurisdictions;

Amendment 285 #

Proposal for a regulation
Article 8 – paragraph 2 – point e b (new)

(eb) fulfil the criteria for development finance as established by the Development Assistance Committee (DAC) of the OECD and adequately support the private sector development in targeted countries

Amendment 286 #

Maurice PONGA, Bogdan Brunon WENTA

Proposal for a regulation
Article 8 – paragraph 2 – point e b (new)

(eb) fulfil the criteria for Official Development Assistance (ODA) established by the Development Assistance Committee (DAC) of the OECD;

Amendment 287 #

Proposal for a regulation
Article 8 – paragraph 2 – point e b (new)

(eb) promote the use of untied aid and contribute to development effectiveness, in particular as regards LDCs;

Amendment 288 #

Proposal for a regulation
Article 8 – paragraph 2 – point e c (new)

(ec) contribute to the implementation of the Agenda 2030 on Sustainable Development Goals

Amendment 289 #

Proposal for a regulation
Article 8 – paragraph 2 – point e c (new)

(ec) ease the flow of remittances and reduce their costs;

Amendment 290 #

Proposal for a regulation
Article 8 – paragraph 2 – point e d (new)

(ed) are implemented in full respect of the Human Rights conventions, the OECD Guidelines for Multi-National Enterprises, the UN Guiding Principles on Business and Human Rights, the ILO conventions and standards, the Maastricht Principles on the Extraterritorial Obligations of States in the Area of Economic, Social and Cultural Rights and the FAO Voluntary Guidelines on the Responsible Governance of Tenure of Land, Fisheries and Forests in the Context of National Food Security;

Amendment 291 #

Proposal for a regulation
Article 8 – paragraph 2 – point e e (new)

(ee) undergo a publicly available participatory ex ante human rights and environmental impact assessment identifying and addressing risks in those fields.

Amendment 292 #

Fabio Massimo CASTALDO, Ignazio CORRAO, Marco VALLI

Proposal for a regulation
Article 8 – paragraph 2 a (new)

2a. The EFSD Guarantee shall not support financing and investment operations which, (a) are linked to the military or security sector (b) support the development of nuclear energy (c) further fossil fuel and carbon lock- in (d) have significant environmental external costs (e) promote the use of genetically modified seeds (f) promote large-scale industrialised monoculture farming (g) are linked to mega-dams (h) are in sectors or projects that have risks of undermining the human rights in partner countries such as land grabbing and the forced displacement of populations. A publicly available ex ante human rights and environmental impact assessment shall be carried out to identify such risks.

Amendment 293 #

Proposal for a regulation
Article 8 – paragraph 2 a (new)

2a. The guarantee may not be used: (a) in the case of activities which encourage violations of the human rights of local and indigenous communities (land grabbing, paramilitary operations, activities in deforested areas), particularly in the countries affected by these phenomena; (b) in the case of large-scale infrastructure projects with a serious environmental impact and lacking in real added economic and social added value for the local population; (c) wherever there is any suspicion of environmental infringements and damage to society or to local communities, taking the precautionary principle into account;

Amendment 294 #

Eider GARDIAZABAL RUBIAL, Doru-Claudian FRUNZULICĂ, Soraya POST

Proposal for a regulation
Article 8 – paragraph 2 a (new)

2a. The EFSD shall not be used to replace government responsibility for public services.

Amendment 295 #

Isabelle THOMAS, Jean-Paul DENANOT, Vincent PEILLON

Proposal for a regulation
Article 8 – paragraph 3

3. On a case by case basis the 3. Commission may allow combined financing from different Union instruments. as long as this does not lead to reduced financing for other developmental objectives.

Amendment 296 #

Proposal for a regulation
Article 8 – paragraph 4

4. The Commission ~~may~~shall define investment windows for specific regions or partner countries or for both, for specific sectors, for specific projects or for specific categories of final beneficiaries or for both to be funded by instruments referred to in Article 9 to be covered by the EFSD Guarantee up to a fixed amount. ~~All requests for financial support within investment windows shall be made to the Commission~~The choice of investment windows shall be duly justified by an analysis of market failure or sub-optimal investment situations. That analysis shall be carried out by the Commission in cooperation with potentially eligible counterparts and stakeholders. Investment windows shall be defined with a view to allocating a significant share of the EFSD Guarantee to fragile and conflict-affected countries, landlocked countries and Least-Developed Countries.

Amendment 297 #

Beatriz BECERRA BASTERRECHEA, Anneli JÄÄTTEENMÄKI, Urmas PAET, Jozo RADOŠ, Hilde VAUTMANS, Ilhan KYUCHYUK, Nedzhmi ALI, Jasenko SELIMOVIC

Proposal for a regulation
Article 8 – paragraph 4

Amendment 298 #

Proposal for a regulation
Article 8 – paragraph 4

Amendment 299 #

Eider GARDIAZABAL RUBIAL, Doru-Claudian FRUNZULICĂ, Soraya POST

Proposal for a regulation
Article 8 – paragraph 4

4. The Commission mashall be empowered to adopt delegated acts in accordance with Article 20 a to supplement this Regulation by defineing investment windows for specific regions or partner countries or for both, for specific sectors, for specific projects or for specific categories of final beneficiaries or for both to be funded by instruments referred to in Article 9 to be covered by the EFSD Guarantee up to a fixed amount. All requests for financial support within investment windows shall be made to the Commission.

Amendment 300 #

Paul RÜBIG, Maurice PONGA, Eduard KUKAN, Bogdan Brunon WENTA

Proposal for a regulation
Article 8 – paragraph 4

4. TAfter consultation with the strategic board, the Commission ~~may~~shall define investment windows for specific regions or partner countries or for both, for specific sectors, for specific projects or for specific categories of final beneficiaries or for both to be funded by instruments referred to in Article 9 to be covered by the EFSD Guarantee up to a fixed amount. All requests for financial support within investment windows shall be made to the Commission.

Amendment 301 #

Eider GARDIAZABAL RUBIAL, Doru-Claudian FRUNZULICĂ, Soraya POST

Proposal for a regulation
Article 8 – paragraph 4 a (new)

4a. The Commission shall be empowered to adopt delegated acts in accordance with Article 21(1) to (3) and (5) to supplement this Regulation by establishing a public scoreboard of indicators to ensure an independent and transparent assessment of the potential and actual use of the guarantee, in particular with regard to the criteria mentioned in paragraph 2.

Amendment 302 #

Proposal for a regulation
Article 8 – paragraph 4 a (new)

4a. The Commission shall be empowered to adopt delegated acts in accordance with Article 20a to supplement this Regulation by establishing and publishing a scoreboard of indicators to be used to ensure an independent and transparent assessment of the potential and actual operations backed by the EFSD Guarantee.

Amendment 303 #

Isabelle THOMAS, Jean-Paul DENANOT, Vincent PEILLON

Proposal for a regulation
Article 8 – paragraph 4 a (new)

4a. The Commission shall establish and publish a scoreboard of indicators to be used to ensure an independent and transparent assessment of the potential and actual operations backed by the EFSD Guarantee. Those indicators shall include gender components.

Amendment 304 #

Xabier BENITO ZILUAGA, Lola SÁNCHEZ CALDENTEY, Miguel URBÁN CRESPO, Stelios KOULOGLOU

Proposal for a regulation
Article 9 – paragraph 1 – point a

(a) loans, including local currency loans;

Amendment 305 #

Proposal for a regulation
Article 9 – paragraph 1 – point e

~~(e) any other form of funding or credit enhancement, equity or quasi- equity participations.~~deleted

Amendment 306 #

Xabier BENITO ZILUAGA, Lola SÁNCHEZ CALDENTEY, Miguel URBÁN CRESPO, Stelios KOULOGLOU

Proposal for a regulation
Article 10 – paragraph 1 – point e

~~(e) bodies governed by the private law of a Member State that provide adequate financial guarantees, by derogation from Article 58(1)(c)(vii) of Regulation (EU) No 966/2012~~deleted

Amendment 307 #

Xabier BENITO ZILUAGA, Lola SÁNCHEZ CALDENTEY, Miguel URBÁN CRESPO, Stelios KOULOGLOU

Proposal for a regulation
Article 10 – paragraph 1 – point e

(e) bodies governed by the private law of a Member State that provide adequate financial guarantees, by derogation from Article 58(1)(c)(vii) of Regulation (EU) No 966/2012, and that disclose what extra- financial factors ("Environment Social and Governance ESG") such as climate change, resource scarcity, misaligned executive compensation or corruption they consider as part of their fiduciary duty.

Amendment 308 #

Proposal for a regulation
Article 10 – paragraph 1 – point f

~~(f) bodies governed by the private law of a partner country that provide adequate financial guarantees, by derogation from Article 58(1)(c)(vii) of Regulation (EU) No 966/2012.~~deleted

Amendment 309 #

Eider GARDIAZABAL RUBIAL, Doru-Claudian FRUNZULICĂ, Soraya POST

Proposal for a regulation
Article 10 – paragraph 1 – point f

(f) bodies governed by the private law of a partner country that provide adequate financial guarantees, by derogation from Article 58(1)(c)(vii) of Regulation (EU) No 966/2012, and that disclose what extra- financial factors ("Environment Social and Governance ESG") such as climate change, resource scarcity, misaligned executive compensation or corruption they consider as part of their fiduciary duty.

Amendment 310 #

Proposal for a regulation
Article 10 – paragraph 2 a (new)

2a. The Commission shall ensure a level-playing field for eligible counterparts and promote cooperation between them. It shall ensure an absence of conflicts of interest throughout the stages of implementation of the EFSD. In order to ensure complementarity, the eligible counterparts shall provide any relevant information about their non- EFSD operations.

Amendment 311 #

Proposal for a regulation
Article 10 – paragraph 2 a (new)

2a. The Guarantee shall be implemented with full respect of the principles of development effectiveness to which the Union has committed, including ownership, focus on results, partnerships for development, transparency and shared responsibility.

Amendment 312 #

Proposal for a regulation
Article 10 – paragraph 3

3. The Commission shall select the eligible counterparts pursuant to Article 61 of Regulation (EU, Euratom) No 966/2012. while preference is given to eligible counterparts: – established in the African and Neighbourhood partner countries respectively, – with a proven track record of sustainable and responsible investment favouring participatory approaches and ownership in designing and setting up programmes and projects, – using reliable monitoring and evaluation methods, including on qualitative aspects, like environmental and social standards and additionality, – having in their governance structure an efficient and independent grievance mechanism.

Amendment 313 #

Patrizia TOIA, Goffredo Maria BETTINI, Cécile Kashetu KYENGE

Proposal for a regulation
Article 10 – paragraph 3

3. The Commission shall select the eligible counterparts pursuant to Article 61 of Regulation (EU, Euratom) No 966/2012.The EFSD Guarantee shall be implemented, whenever possible, under the lead of a European eligible counterpart.

Amendment 314 #

Proposal for a regulation
Article 10 – paragraph 3 a (new)

3a. The guarantee shall with preference be implemented under the lead of a European eligible counterpart;

Amendment 315 #

Xabier BENITO ZILUAGA, Lola SÁNCHEZ CALDENTEY, Miguel URBÁN CRESPO, Stelios KOULOGLOU

Proposal for a regulation
Article 11 – paragraph 1 a (new)

11a. An assessment of the additionality and of compliance with the internationally agreed development effectiveness principles, the mobilisation of private sector resources, the estimated and actual outputs and the outcomes and impact of the financing and investment operations covered by the EFSD Guarantee on aggregated basis, including the impact on sustainable development, especially on poverty and inequalities reduction and decent job creation, climate change, gender equality and eradication of poverty in the long term; This assessment shall be complemented by a publicly available online platform containing the disaggregated data in an open source, machine readable format and the open publication of other related documents, including project plans, environmental, gender, and social impact assessments, reports and impact evaluations. The platform should include the names of beneficial owners of EFSD project promoters and that all final beneficiaries are disclosed to the public.

Amendment 316 #

Paul RÜBIG, Maurice PONGA, Eduard KUKAN, Bogdan Brunon WENTA

Proposal for a regulation
Article 11 – paragraph 2 – subparagraph 1

Member States may contribute to the EFSD Guarantee Fund in the form of guarantees or cash. Subject to Commission approval, and that of Member States where relevant, other contributors may contribute, in the form of cash.

Amendment 317 #

Proposal for a regulation
Article 11 – paragraph 2 – subparagraph 1

Member States and EFTA countries may contribute to the EFSD Guarantee Fund in the form of guarantees or cash. Subject to Commission approval, other contributors may contribute, in the form of cash.

Amendment 318 #

Xabier BENITO ZILUAGA, Miguel URBÁN CRESPO, Stelios KOULOGLOU

Proposal for a regulation
Article 11 – paragraph 2 – subparagraph 3

Aggregate net payments from the general budget of the Union under the EFSD Guarantee shall not exceed EUR 1 5000 000 000. Payments for guarantee calls shall be made, where necessary, by the contributing Member States or other contributors on pari passu basis with the Union, without prejudice to paragraph 4.

Amendment 319 #

Proposal for a regulation
Article 11 – paragraph 3 – subparagraph 3

The Commission shall inform the European Parliament ~~and~~, the Council and Member States where relevant about the contributions confirmed.

Amendment 320 #

Eider GARDIAZABAL RUBIAL, Doru-Claudian FRUNZULICĂ, Soraya POST

Proposal for a regulation
Article 11 – paragraph 4 – subparagraph 2

At the request of the Member States, the contributions made by them may be earmarked for the initiation of projects in specific regions, countries, sectors or investment windows, and the Member States shall be kept informed of the ongoing status and effects of such projects in question.

Amendment 321 #

Proposal for a regulation
Article 11 – paragraph 4 – subparagraph 2

At the request of the Member States and subject to approval by the Strategic Board, the contributions made by them may be earmarked for the initiation of projects in specific regions~~, countries, sectors or~~ or existing investment windows.

Amendment 322 #

Beatriz BECERRA BASTERRECHEA, Anneli JÄÄTTEENMÄKI, Urmas PAET, Ilhan KYUCHYUK, Nedzhmi ALI

Proposal for a regulation
Article 11 – paragraph 5 a (new)

5a. At least 100 000 000 shall be allocated for investments in the Eastern and Southern Neighbourhood partner countries and for this purpose the funds should be transferred from the Instrument for Pre-accession Assistance (IPA II), established by regulation (EU) No 231/2014;

Amendment 323 #

Paul RÜBIG, Maurice PONGA, Eduard KUKAN, Bogdan Brunon WENTA

Proposal for a regulation
Article 11 – paragraph 5 a (new)

5a. At least EUR 200 000 000 of EFSD Guarantee coverage shall be allocated for investments in the partner countries from the Eastern and Southern Neighbourhood, in accordance with Regulation (EU) No 232/2014.

Amendment 324 #

Beatriz BECERRA BASTERRECHEA, Urmas PAET, Anneli JÄÄTTEENMÄKI, Jozo RADOŠ, Hilde VAUTMANS, Ilhan KYUCHYUK, Nedzhmi ALI

Proposal for a regulation
Article 12 – paragraph 1

1. The Commission on behalf of the Union shall conclude EFSD guarantee agreements with the eligible counterparts selected pursuant to Article 10 and paragraph 4, on the granting of the EFSD Guarantee, which shall be ~~unconditional,~~ irrevocable, at first demand, in favour of the selected eligible counterpart.

Amendment 325 #

Proposal for a regulation
Article 12 – paragraph 2 a (new)

2a. The guarantee agreements shall be made publicly available, with a limited regime of exceptions.

Amendment 326 #

Doru-Claudian FRUNZULICĂ, Eider GARDIAZABAL RUBIAL, Soraya POST

Proposal for a regulation
Article 12 – paragraph 3 – introductory part

3. The guarantee agreements shall be publicly available, with a limited regime of exceptions, and contain, in particular, provisions concerning the following:

Amendment 327 #

Proposal for a regulation
Article 12 – paragraph 3 – point a a (new)

(aa) the objectives and purpose of this Regulation, a needs assessment and an indication of the expected results taking into account the promotion of corporate social responsibility, including in particular through adherence to all internationally agreed by the EU guidelines, principles and legal instruments, in particular those listed in Annex a.

Amendment 328 #

György HÖLVÉNYI

Proposal for a regulation
Article 12 – paragraph 3 – point e a (new)

(ea) provisions for a robust, safe and accessible complaints procedure for individuals, communities, civil society and faith based organisations that could be negatively affected by eligible counterpart's operations or the investment supported by the EFSD.

Amendment 329 #

Doru-Claudian FRUNZULICĂ, Eider GARDIAZABAL RUBIAL, Soraya POST

Proposal for a regulation
Article 12 – paragraph 4 – point c

(c) the amount of own resources as well as private sector co-financing that the counterpart is ready to mobilise for the investment window.

Amendment 330 #

Proposal for a regulation
Article 12 – paragraph 4 – point c

(c) the amount of own resources as well as private sector co-financing that the counterpart is ready to mobilise for the investment window.

Amendment 331 #

Proposal for a regulation
Article 12 – paragraph 4 – point c

Amendment 332 #

Proposal for a regulation
Article 12 – paragraph 6 – point a

(a) for debt instruments the principal and all interests and amounts due to the selected eligible counterpart, but not received by it in accordance with the terms of the financing operations a~~fter~~t the time of an event of default ~~has~~ occurreding;

Amendment 333 #

Proposal for a regulation
Article 12 – paragraph 6 – point b

(b) for equity investments the amounts invested ~~and their associated financing costs~~;

Amendment 334 #

Proposal for a regulation
Article 12 – paragraph 6 – point c

(c) for other financing and investment operations referred to in Article 8(2) the amounts used ~~and their associated funding costs~~;

Amendment 335 #

Proposal for a regulation
Article 12 – paragraph 6 – point d

~~(d) all relevant expenses and recovery costs related to an event of default, unless deducted from recovery proceeds.~~deleted

Amendment 336 #

Proposal for a regulation
Article 13 – paragraph 2 – point a

(a) contributions from the general budget of the Union, when this is compatible with the objectives set out under the various budget lines and external financing instruments and other sources;

Amendment 337 #

Paul RÜBIG, Maurice PONGA, Eduard KUKAN, Bogdan Brunon WENTA

Proposal for a regulation
Article 13 – paragraph 2 – point b

(b) ~~possible~~ contributions from Member States anmounting to at least one third of ther contribut~~ors~~ions from the general budget of the Union;

Amendment 338 #

Proposal for a regulation
Article 13 – paragraph 2 – point b

(b) possible contributions from Member States, EFTA-countries and other contributors;

Amendment 339 #

Beatriz BECERRA BASTERRECHEA, Anneli JÄÄTTEENMÄKI, Urmas PAET, Jozo RADOŠ, Hilde VAUTMANS, Ilhan KYUCHYUK, Nedzhmi ALI

Proposal for a regulation
Article 13 – paragraph 2 – point b a (new)

(ba) possible contributions from other contributors;

Amendment 340 #

Proposal for a regulation
Article 13 – paragraph 4

4. The management of the resources of the EFSD Guarantee Fund referred to in paragraph 2 shall be ~~directly managed by the Commission~~entrusted to the EIB under a mandate on behalf of the Union. These resources shall be managed and invested in accordance with the principle of sound financial management and shall follow appropriate prudential rules. On 30 June 2018 the Commission shall submit to the European Parliament and the Council a report evaluating the application of this paragraph which shall provide input for a possible amendment.

Amendment 341 #

Lorenzo CESA

Proposal for a regulation
Article 13 – paragraph 4

4. The resources of the EFSD Guarantee Fund referred to in paragraph 2 shall be directly managed by the ~~Commiss~~EIB under a mandate on behalf of the Union and invested in accordance with the principle of sound financial management and shall follow appropriate prudential rules.

Amendment 342 #

Proposal for a regulation
Article 15 – paragraph 1 – introductory part

1. The Commission shall submit an annual report to the European Parliament and to the Council on the financing and investment operation covered by the EFSD Guarantee. This report shall be made public~~. It shall include the following elements~~ and be presented to and discussed with a broad range of stakeholders in the competent committees of the European Parliament. It shall include the following elements which shall be presented in a country-specific format:

Amendment 343 #

Proposal for a regulation
Article 15 – paragraph 1 – introductory part

1. The Commission shall submit an annual report to the European Parliament ~~and~~, to the Council and to contributing Member States where relevant on the financing and investment operation covered by the EFSD Guarantee. This report shall be made public. It shall include the following elements:

Amendment 344 #

Proposal for a regulation
Article 15 – paragraph 1 – introductory part

1. The Commission shall submit an annual report to the European Parliament and to the Council on the ~~financing and investment operation covered by~~effectiveness and success of the projects financed by and investments made under the EFSD Guarantee. This report shall be made public. It shall include the following elements:

Amendment 345 #

Proposal for a regulation
Article 15 – paragraph 1 – introductory part

Amendment 346 #

Proposal for a regulation
Article 15 – paragraph 1 – point -a (new)

(–a) an assessment of the overall contribution to the Sustainable Development Goals of the 2030 Agenda with a special focus on the fight against poverty;

Amendment 347 #

Beatriz BECERRA BASTERRECHEA, Urmas PAET, Anneli JÄÄTTEENMÄKI, Hilde VAUTMANS, Ilhan KYUCHYUK, Nedzhmi ALI

Proposal for a regulation
Article 15 – paragraph 1 – point -a a (new)

(–aa) an assessment of the share of funding devoted to financing and investment operations relevant for political commitments of the EU on renewable energy, energy efficiency and climate change;

Amendment 348 #

Proposal for a regulation
Article 15 – paragraph 1 – point a

(a) an assessment of the financing and investment operations in operation and covered by the EFSD Guarantee, sector, country and regional levels and their compliance with this Regulation, including the 35% climate change-related spending;

Amendment 349 #

Fabio Massimo CASTALDO, Ignazio CORRAO, Marco VALLI

Proposal for a regulation
Article 15 – paragraph 1 – point a

(a) an independent assessment of the financing and investment operations in operation and covered by the EFSD Guarantee, sector, country and regional levels and their compliance with this Regulation;

Amendment 350 #

Beatriz BECERRA BASTERRECHEA, Anneli JÄÄTTEENMÄKI, Urmas PAET, Jozo RADOŠ, Hilde VAUTMANS, Ilhan KYUCHYUK, Nedzhmi ALI, Marielle DE SARNEZ

Proposal for a regulation
Article 15 – paragraph 1 – point a a (new)

(aa) an assessment of the overall contribution to the Sustainable Development Goals of the 2030 Agenda and the implementation of the Paris Agreement;

Amendment 351 #

Paul RÜBIG, Maurice PONGA, Eduard KUKAN, Bogdan Brunon WENTA

Proposal for a regulation
Article 15 – paragraph 1 – point b

(b) an assessment of the added value, the mobilisation of private sector resources, the estimated and actual outputs and the outcomes and impact of the financing and investment operations covered by the EFSD Guarantee on an aggregated basis, ~~including the impact on emp~~assessing the impact and output according to a pre-determined scoreboard of indicators aimed at measuring the achievement ratio of the EFSD objectives, taking into account the indicators of the Sustainable Develoypment ~~creation~~Goals and the mechanisms employed towards its measurement;

Amendment 352 #

Proposal for a regulation
Article 15 – paragraph 1 – point b

(b) an assessment of the additionality and added value, the mobilisation of private sector resources, the estimated and actual outputs and the outcomes and impact of the financing and investment operations covered by the EFSD Guarantee on an aggregated basis, including the impact on ~~employment creation~~decent job creation, climate change, the eradication of poverty and on the way in which the root causes of migration are addressed;

Amendment 353 #

Paul RÜBIG, Maurice PONGA, Eduard KUKAN, Bogdan Brunon WENTA

Proposal for a regulation
Article 15 – paragraph 1 – point e

(e) the financial amount transferred to beneficiaries and an assessment of financing and investment operations by each counterpart on an aggregated basis including a gender analysis of the operations covered based on evidence and on sex-disaggregated data;

Amendment 354 #

Proposal for a regulation
Article 15 – paragraph 1 – point f

(f) an assessment of the additionality and added value of financing and investment operations of the eligible counterparts, and of the aggregate risk associated with those operations;

Amendment 355 #

Fabio Massimo CASTALDO, Ignazio CORRAO, Marco VALLI

Proposal for a regulation
Article 15 – paragraph 1 – point f

(f) an independent assessment of the added value of financing and investment operations of the eligible counterparts, and of the aggregate risk associated with those operations;

Amendment 356 #

Paul RÜBIG, Maurice PONGA, Eduard KUKAN, Bogdan Brunon WENTA

Proposal for a regulation
Article 15 – paragraph 1 – point h a (new)

(ha) an assessment of the actions developed under the second and third pillar of the EIP and the synergies between them and the operations covered by the EFSD Guarantee, with particular regard to progress made in the fight against corruption and organised crime and illicit financial flows, good governance, the inclusion of local markets, the boosting of entrepreneurship as well as local business settings, respect for human rights and the rule of law as well as gender-responsive policies.

Amendment 357 #

Xabier BENITO ZILUAGA, Lola SÁNCHEZ CALDENTEY, Miguel URBÁN CRESPO, Stelios KOULOGLOU

Proposal for a regulation
Article 15 – paragraph 1 – point h a (new)

(ha) An assessment of the compliance of EFSD projects with the principles of EU External Action as set out in Article 21 of EU Treaties.

Amendment 358 #

Isabelle THOMAS, Jean-Paul DENANOT

Proposal for a regulation
Article 15 – paragraph 1 – point h a (new)

(ha) a scoreboard of indicators, as provided for in [Article 8(4a)].

Amendment 359 #

Xabier BENITO ZILUAGA, Lola SÁNCHEZ CALDENTEY, Miguel URBÁN CRESPO, Stelios KOULOGLOU

Proposal for a regulation
Article 15 – paragraph 1 – point h a (new)

(ha) detailed objectives and plans for the coming year.

Amendment 360 #

Proposal for a regulation
Article 15 – paragraph 1 – point h b (new)

(hb) An assessment of the compliance of EFSD projects with the internationally agreed development effectiveness principles.

Amendment 361 #

Eider GARDIAZABAL RUBIAL, Doru-Claudian FRUNZULICĂ, Soraya POST

Proposal for a regulation
Article 16 – paragraph 1

1. By 31 December 202019, the Commission shall evaluate the functioning of the EFSD, its management and its effective contribution to the purpose and objectives of this regulation. The Commission shall submit its evaluation report to the European Parliament and the Council, containing an independent evaluation of the application of this Regulation~~. This report shall be submitted without delay by the Commission in the event that~~ accompanied by a reasoned proposal with a view to reviewing or amending this Regulation, as appropriate, in particular withe a~~pproved financing and~~ view to extending the initial investment oper~~ations absorb in full the amount of the EFSD Guarantee available before 30 June 2020~~iod referred to in Article 7(2). That evaluation report shall be accompanied by an opinion of the Court of Auditors.

Amendment 362 #

Paul RÜBIG, Maurice PONGA, Eduard KUKAN, Bogdan Brunon WENTA

Proposal for a regulation
Article 16 – paragraph 1

1. By 31 December 202019, the Commission shall evaluate the functioning of the EFSD and its effective contribution to the purpose and objectives of this Regulation. The Commission shall submit its evaluation report to the European Parliament and the Council, containing an ~~independent~~external evaluation of the application of this Regulation~~. This report shall be submitted without delay by the Commission in the event that~~ , accompanied by a reasoned proposal with a view to reviewing or amending this Regulation, as appropriate, in particular withe a~~pproved financing and~~ view to extending the initial investment oper~~ations absorb in full the amount of the EFSD Guarantee available before 30 June 2020~~iod referred to in Article 7(2).

Amendment 363 #

Proposal for a regulation
Article 16 – paragraph 1

1. By 31 December 2020, the Commission shall evaluate, together with an independent evaluator, the functioning of the EFSD. The Commission shall submit its evaluation report to the European Parliament and the Council, containing an independent evaluation of the application of this Regulation. This report shall be submitted without delay by the Commission in the event that the approved financing and investment operations absorb in full the amount of the EFSD Guarantee available before 30 June 2020.

Amendment 364 #

Doru-Claudian FRUNZULICĂ, Eider GARDIAZABAL RUBIAL, Soraya POST

Proposal for a regulation
Article 16 – paragraph 2

2. By 31 December 2020 and every three years thereafter, the Commission shall evaluate the use of the EFSD Guarantee Fund. The Commission shall submit its evaluation report to the European Parliament and the Council. That evaluation report shall be accompanied by an opinion of the Court of Auditors on the management of the EFSD guarantee fund and the effectiveness and additionality of EFSD operations.

Amendment 365 #

Proposal for a regulation
Article 16 – paragraph 2 a (new)

2a. by 30 June 2018, the Commission, in cooperation with the European External Action Service (EEAS) shall establish a framework and methodology for assessing the compliance with Article 21 TEU.

Amendment 366 #

Isabelle THOMAS, Jean-Paul DENANOT, Vincent PEILLON

Proposal for a regulation
Article 17 – title

Transparency, communication and public disclosure of information

Amendment 367 #

Eider GARDIAZABAL RUBIAL, Doru-Claudian FRUNZULICĂ, Soraya POST

Proposal for a regulation
Article 17 – paragraph 1

In accordance with its transparency policies and general Union principles on access to documents and information, the eligible counterparts shall make publicly available on their websites information relating to all financing and investment operations covered by the EFSD Guarantee under this Regulation, relating in particular to the manner in which those operations contribute to the requirements of this Regulation. Open data across the entire cycle of contracting, from planning to implementation, are a successful solution that provides a wide range of possibilities. Open data allow a better internal analysis of the data and the possibility of lowering costs and making the awarding process more effective. They allow potential companies to analyse projects and open up new markets. They make it possible to detect and avoid corruption. Ultimately, it is about getting better outcomes for citizens: better schools and hospitals, more small businesses and more work. Where more private investment is being promoted, there must be transparency in order to develop open competition instead of promoting cronyism.

Amendment 368 #

Proposal for a regulation
Article 17 – paragraph 1

In accordance with its transparency policies and general Union ~~princip~~rules on access to documents and information, the eligible counterparts shall proactively and systematically make publicly available on their websites information relating to all financing and investment operations covered by the EFSD Guarantee under this Regulation, relating in particular to the manner in which those operations contribute to the requirements of this Regulation. Where possible, such information shall be broken down at project level and include information on the ultimate beneficiaries, taking into account the protection of confidential and commercially sensitive information.

Amendment 369 #

Proposal for a regulation
Article 17 – paragraph 1

Amendment 370 #

Maurice PONGA, Paul RÜBIG, Eduard KUKAN, Bogdan Brunon WENTA

Proposal for a regulation
Article 17 – paragraph 1

Extensive minutes of the meetings of the strategic and operational boards shall be published without delay. The scoreboard of indicators shall be made public once an operation under the guarantee is approved. In accordance with its transparency policies and general Union principles on access to documents and information, the eligible counterparts shall make publicly available on their websites all information and documents relating to all financing and investment operations covered by the EFSD Guarantee under this Regulation, ~~relating in particular to the manner in which those operations contribute to the requirements of this Regula~~with a strictly limited regime of exceptions.

Amendment 371 #

Proposal for a regulation
Article 17 – paragraph 1

In accordance with its transparency policies and ~~general Union princip~~Union rules on access to documents and information and data protection, the eligible counterparts shall proactively and systematically make publicly available on their websites information relating to all financing and investment operations covered by the EFSD Guarantee under this Regulation, relating in particular to the manner in which those operations contribute to the objectives and requirements of this Regulation.

Amendment 372 #

Xabier BENITO ZILUAGA, Lola SÁNCHEZ CALDENTEY, Miguel URBÁN CRESPO, Stelios KOULOGLOU

Proposal for a regulation
Article 17 – paragraph 1 a (new)

1a. Grievance and redress mechanism The guarantee should be granted in priority to counterparts who have in their governance structure an efficient and independent grievance mechanism. The European Commission shall establish during the first year of operations of the EFSD an EU centralised Grievance Mechanism for all EFSD supported projects. This grievance mechanism shall be contacted directly by stakeholders affected by EFSD operations, and by stakeholders dissatisfied with how their complaints are addressed by the grievance mechanisms of EFSD counterparts. The European Commission shall assess the possibility for the European Ombudsman to host this Grievance Mechanism.

Amendment 373 #

Isabelle THOMAS, Jean-Paul DENANOT, Vincent PEILLON

Proposal for a regulation
Article 17 – paragraph 1 a (new)

The eligible counterparts shall clearly specify the support provided by the Union in the information they publish on financing and investment operations covered by the EFSD Guarantee under this Regulation.

Amendment 374 #

Isabelle THOMAS, Jean-Paul DENANOT, Vincent PEILLON

Proposal for a regulation
Article 17 – paragraph 1 b (new)

EU delegations shall include information on the funding opportunities available under the EFSD in all materials targeted at civil society and the general public.

Amendment 375 #

Proposal for a regulation
Article 17 a (new)

Article 17a Grievance and redress mechanism The European Commission shall establish an EU centralised Grievance Mechanism for all EFSD supported projects. This grievance mechanism shall be contacted directly by stakeholders affected by EFSD operations, and by stakeholders dissatisfied with how their complaints are addressed by the grievance mechanisms of EFSD counterparts.

Amendment 376 #

Proposal for a regulation
Article 18 – paragraph 1

1. The external audit of the activities undertaken in accordance with this Regulation shall be carried out by the Court of Auditors in accordance with Article 287 of the Treaty on the Functioning of the European Union (TFEU) and is thus subject to the discharge procedure in accordance with Article 319 TFEU.

Amendment 377 #

Proposal for a regulation
Article 19 – paragraph 1

1. The Commission or the eligible counterparts shall notify the European Anti-Fraud Office (OLAF) promptly and provide it with the necessary information when, at any stage of the preparation, implementation or closure of financing and investment operations covered by this Regulation, they have grounds for suspecting fraud, corruption, embezzlement, money laundering or any other illegal activity that may affect the financial interests of the Union.

Amendment 378 #

Proposal for a regulation
Article 19 – paragraph 2 – subparagraph 1

OLAF may carry out investigations, including on-the-spot checks and inspections, in accordance with the provisions and procedures laid down in Regulation (EU, Euratom) No 883/2013 of the European Parliament and of the Council, Council Regulation (Euratom, EC) No 2185/96 and Council Regulation (EC, Euratom) No 2988/95 in order to protect the financial interests of the Union, with a view to establishing whether there has been fraud, corruption, embezzlement, money laundering financing of terrorism, tax fraud and tax evasion, or any other illegal activity affecting the financial interests of the Union in connection with any financing and investment operations covered by this Regulation. OLAF may transmit any information obtained in the course of its investigations to the competent authorities of the Member States concerned.

Amendment 379 #

Proposal for a regulation
Article 20 – paragraph 1

1. In their financing and investment operations, the eligible counterparts shall not support any activities carried out for illegal purposes, including money laundering, terrorist financing, organised crime, tax fraud and tax evasion, corruption, and fraud affecting the financial interests of the Union. The eligible counterparts shall not participate in any financing or investment operation through a vehicle located in a non- cooperative jurisdiction, ~~in accordance with its policy towards weakly regulated or non-cooper~~characterised in particular by no, or only nominal, or low taxes, a lack of effective automatic exchange of information in tax matters, a lack of transparency in legislative, ju~~risdictions based on policies of the Union,~~dicial or administrative provisions and providing harmful tax measures as defined by the Code of Conduct on Business taxation or, identified by the Organisation for Economic Co-operation and Development ~~or the Financial Action Task Force~~as being a non- cooperative jurisdiction or, identified as high risk countries pursuant to article 9 paragraph 2 of DIRECTIVE (EU) 2015/849 or included in the common EU list of non-cooperative tax jurisdictions.

Amendment 380 #

Doru-Claudian FRUNZULICĂ, Eider GARDIAZABAL RUBIAL, Soraya POST

Proposal for a regulation
Article 20 – paragraph 2

2. In its financing and investment operations, the eligible counterpart shall apply the principles and standards set out in Union law on the prevention of the use of the financial system for the purpose of money laundering and terrorist financing and in particular Regulation (EU) 2015/847 of the European Parliament and of the Council35 and Directive (EU) 2015/849 of the European Parliament and of the Council36. The eligible counterparts shall make both direct funding and funding via intermediaries under this Regulation contingent upon the disclosure of beneficial ownership information in accordance with Directive (EU) 2015/849 and publish country-by-country reporting data in line with the requirements of article 89,1 of Directive 2013/36/EU. __________________ 35 Regulation (EU) 2015/847 of the European Parliament and of the Council of 20 May 2015 on information accompanying transfers of funds and repealing Regulation (EC) No 1781/2006 (OJ L 141, 5.6.2015, p. 1). 36 Directive (EU) 2015/849 of the European Parliament and of the Council of 20 May 2015 on the prevention of the use of the financial system for the purposes of money laundering or terrorist financing, amending Regulation (EU) No 648/2012 of the European Parliament and of the Council, and repealing Directive 2005/60/EC of the European Parliament and of the Council and Commission Directive 2006/70/EC (OJ L 141, 5.6.2015, p. 73).

Amendment 381 #

Proposal for a regulation
Article 20 – paragraph 2 a (new)

2a. The EFSD shall not support financing and investment operations which: (a) are in, or closely linked with, the armament, defence or security sectors; (b) support nuclear energy or fossil fuels, with duly justified exceptions for conventional natural gas; (c) do not respect the ILO Conventions set out in Annex a (new); (d) are assessed to have a clear and negative environmental impact in the partner countries; (e) likely to lead to displacements; (f) likely to have negative effects on the food security of populations in partner countries;

Amendment 382 #

Xabier BENITO ZILUAGA, Lola SÁNCHEZ CALDENTEY, Miguel URBÁN CRESPO, Stelios KOULOGLOU

Proposal for a regulation
Article 20 – paragraph 2 a (new)

2a. In order to be eligible for financing under the EFSD, all beneficiaries, whether corporations or financial intermediaries, that are incorporated in different jurisdictions have to disclose country level information about their sales, assets, employees, profits and tax payments in each country in which they operate in their audited annual reports.

Amendment 383 #

Nicola CAPUTO

Proposal for a regulation
Article 20 – paragraph 2 a (new)

2a. The counterpart's eligibility is subject to a prior evaluation of its compliance with the fundamental rights and basic freedom to be operated by the Commission, with regard to the territories and the organisations related to the funding.

Amendment 384 #

Eduard KUKAN, Doru-Claudian FRUNZULICĂ, Eider GARDIAZABAL RUBIAL

Proposal for a regulation
Article 20 a (new)

Article 20a Exercise of the delegation 1. The power to adopt delegated acts is conferred on the Commission subject to the conditions laid down in this Article. 2. The power to adopt delegated acts referred to in Article 8 shall be conferred on the Commission for a period of three years from 4 July 2017. The Commission shall draw up a report in respect of the delegation of power not later than nine months before the end of the three-year period. The delegation of power shall be tacitly extended for periods of an identical duration, unless the European Parliament or the Council opposes such extension not later than three months before the end of each period. The delegation of power referred to in Article 8 may be revoked at any time by the European Parliament or by the Council. A decision to revoke shall put an end to the delegation of the power specified in that decision. It shall take effect the day following the publication of the decision in the Official Journal of the European Union or at a later date specified therein. It shall not affect the validity of any delegated acts already in force. 3. As soon as it adopts a delegated act, the Commission shall notify it simultaneously to the European Parliament and to the Council. 4. A delegated act adopted pursuant to Article 8 shall enter into force only if no objection has been expressed either by the European Parliament or by the Council within a period of one month of notification of that act to the European Parliament and the Council or if, before the expiry of that period, the European Parliament and the Council have both informed the Commission that they will not object. That period shall be extended by one month at the initiative of the European Parliament or of the Council.

Amendment 385 #

Proposal for a regulation
Article 20 a (new)

Article 20a Exercise of the delegation 1. The power to adopt delegated acts is conferred on the Commission subject to the conditions laid down in this Article. 2. The power to adopt delegated acts referred to in Article 6 shall be conferred on the Commission from the date of entry into force of this Regulation until 31 December 2020. 3. The delegation of power referred to in Article 6 may be revoked at any time by the European Parliament or by the Council. A decision to revoke shall put an end to the delegation of the power specified in that decision. It shall take effect the day following the publication of the decision in the Official Journal of the European Union or at a later date specified therein. It shall not affect the validity of any delegated acts already in force. 4. Before adopting a delegated act, the Commission shall consult experts designated by each Member State in accordance with the principles laid down in the Interinstitutional Agreement of 13 April 2016 on Better Law-Making. 5. As soon as it adopts a delegated act, the Commission shall notify it simultaneously to the European Parliament and to the Council. 6. A delegated act adopted pursuant to Article 6 shall enter into force only if no objection has been expressed either by the European Parliament or the Council within a period of two months of notification of that act to the European Parliament and the Council or if, before the expiry of that period, the European Parliament and the Council have both informed the Commission that they will not object. That period shall be extended by two months at the initiative of the European Parliament or of the Council.

Amendment 386 #

Doru-Claudian FRUNZULICĂ, Eider GARDIAZABAL RUBIAL, Soraya POST

ANNEX a LIST OF INTERNATIONAL GUIDELINES, PRINCIPLES AND ILO CONVENTIONS REFERRED TO IN ARTICLES 12 (3) and 20 (3) (a) International Guidelines and Principles – United Nations Principles for Responsible Investment – United Nations Guiding Principles on Business and Human Rights – OECD Guidelines for Multinational Enterprises – FAO (Committee on World Food Security) Principles for Responsible Investment in Agriculture and Food Systems (b) International Labour Organization Conventions – ILO Convention 87 on Freedom of Association and the Protection of the Right to Organise; – ILO Convention 98 on the Right to Organise and Collective Bargaining; – ILO Convention 29 on Forced Labour; – ILO Convention 105 on the Abolition of Forced Labour; – ILO Convention 138 on Minimum Age; – ILO Convention 111 on Discrimination (Employment and Occupation); – ILO Convention 100 on Equal Remuneration; – ILO Convention 182 on Worst Forms of Child Labour;

Amendment 71 #

Jonathan ARNOTT

Proposal for a regulation
–

The European Parliament rejects the Commission proposal.

Amendment 72 #

Isabelle THOMAS, Jean-Paul DENANOT, Vincent PEILLON

Proposal for a regulation
Citation 1

Having regard to the Treaty on the Functioning of the European Union, and in particular Articles 208 (1), 209(1) and 212(2) thereof,

Amendment 73 #

Proposal for a regulation
Citation 1

Having regard to the Treaty on the Functioning of the European Union, and in particular Articles 208, 209(1) and 212(2) thereof,

Amendment 74 #

Proposal for a regulation
Recital 1

(1) The Union's ambitious External Investment Plan (EIP) is needed to support investments starting in Africa and the Union's Neighbourhood as a means to promote the sustainable development goals of the United Nations 2030 Agenda for Sustainable Development ('the 2030 Agenda'), in particular poverty eradication, as well as the commitments under the recently revised European Neighbourhood Policy ~~thus addressing root causes of migration~~and the New Partnership Framework with Third Countries under the European Agenda on Migration thus addressing migratory pressures stemming from poverty, conflict, instability, underdevelopment, inequality and human right's violations, demographic growth, lack of employment and economic opportunities as well as from climate change. It should also contribute to the implementation of the Paris Agreement on Climate Change (COP 21).

Amendment 75 #

Proposal for a regulation
Recital 1

(1) The Union's ambitious External Investment Plan (EIP) is needed to support investments starting in Africa and the Union's Neighbourhood as a means to promote the sustainable development goals of the United Nations 2030 Agenda for Sustainable Development ('the 2030 Agenda'), in particular poverty eradication, as well as the commitments under the recently revised European Neighbourhood Policy ~~thus addressing root causes of migration~~and the New Partnership Framework with Third Countries under the European Agenda on Migration thus addressing root causes of migration and migratory pressures stemming from poverty, underdevelopment, inequality, demographic growth, lack of employment and economic opportunities as well as climate change. It should also contribute to the implementation of the Paris Agreement on Climate Change (COP 21).

Amendment 76 #

Doru-Claudian FRUNZULICĂ, Eider GARDIAZABAL RUBIAL, Soraya POST

Proposal for a regulation
Recital 1

(1) The Union's ambitious External Investment Plan (EIP) is needed to support investments starting in Africa and the Union's Neighbourhood a~~s a means~~nd to promote the sustainable development goals of the United Nations 2030 Agenda for Sustainable Development ('the 2030 Agenda') as well as the commitments under the recently revised European Neighbourhood Policy ~~thus addressing root~~. Investing in Africa and the EU's neighbourhood will contribute towards addressing poverty, underdevelopment, inequality, instability, demographic growth, lack of employment, economic opportunities and climate change which are causes of migration. It should also contribute to the implementation of the Paris Agreement on Climate Change (COP 21).

Amendment 77 #

Proposal for a regulation
Recital 1

(1) The Union's ambitious External Investment Plan (EIP) is needed to support investments starting in Africa and the Union's Neighbourhood as a means to promote the sustainable development goals of the United Nations 2030 Agenda for Sustainable Development ('the 2030 Agenda'), in particular poverty eradication, as well as the commitments under the recently revised European Neighbourhood Policy thus addressing ~~root causes of migration~~migratory pressures stemming from poverty, underdevelopment, inequality, demographic growth, lack of employment and economic opportunities as well as from climate change. It should also contribute to the implementation of the Paris Agreement on Climate Change (COP 21).

Amendment 78 #

Xabier BENITO ZILUAGA, Lola SÁNCHEZ CALDENTEY, Miguel URBÁN CRESPO, Stelios KOULOGLOU

Proposal for a regulation
Recital 1

(1) The Union's ambitious External Investment Plan (EIP) is needed to support investments starting in Africa and the Union's Neighbourhood as a means to promote the sustainable development goals of the United Nations 2030 Agenda for Sustainable Development ('the 2030 Agenda') as well as the commitments under the recently revised European Neighbourhood Policy thus addressing root causes of migration. It should also contribute to the implementation of the Paris Agreement on Climate Change (COP 21), essentially poverty and inequality reduction, in alignment with the internationally agreed development effectiveness principles (ownership, alignment with national strategies, harmonization, democratic accountability and results). It should also contribute to the implementation of the Paris Agreement on Climate Change (COP 21). The EU external investment should focus in the people more in need and on those areas more affected or likely to be affected by climate change.

Amendment 79 #

Beatriz BECERRA BASTERRECHEA, Anneli JÄÄTTEENMÄKI, Urmas PAET, Ilhan KYUCHYUK, Nedzhmi ALI, Hilde VAUTMANS, Jozo RADOŠ, Marielle DE SARNEZ

Proposal for a regulation
Recital 1

(1) The Union's ambitious External Investment Plan (EIP) is needed to support investments starting in Africa and the Union's Neighbourhood as a means to promote the sustainable development goals of the United Nations 2030 Agenda for Sustainable Development ('the 2030 Agenda') in particular poverty eradication and reducing inequality as well as the commitments under the recently revised European Neighbourhood Policy ~~thus addressing root causes of migration~~. It should also contribute to the implementation of the Paris Agreement on Climate Change (COP 21). , and in particular incorporate climate proofing and climate resilience measures in all financing operations and investments.

Amendment 80 #

Proposal for a regulation
Recital 1

(1) The Union's ~~ambitious~~ External Investment Plan (EIP) i~~s needed to support~~ncludes investments starting in Africa and the Union's Neighbourhood ~~as a means to promote the sustainable development goals of the United Nations 2030 Agenda for Sustainable Development ('the 2030 Agenda')~~ as well as the commitments under the ~~recently revised~~ European Neighbourhood Policy t~~hus addressing root~~o tackle the causes of migration and the mass migratory movements affecting Europe. It should also contribute to the implementation of the Paris Agreement on Climate Change (COP 21).

Amendment 81 #

Proposal for a regulation
Recital 1

(1) The ~~Union's~~Member States’ ambitious External Investment Plan (EIP) is ~~needed to~~a possible means of supporting investments starting in Africa and the Union's Neighbourhood as a means to promote the sustainable development goals of the United Nations 2030 Agenda for Sustainable Development ('the 2030 Agenda') ~~as well as the commitments under the recently revised European Neighbourhood Policy thus addressing root causes of migration~~. It should also contribute to the implementation of the Paris Agreement on Climate Change (COP 21).

Amendment 82 #

Proposal for a regulation
Recital 1

(1) The Union's ambitious External Investment Plan (EIP) i~~s needed~~ntends to support investments starting in Africa and the Union's Neighbourhood as a means to promote the sustainable development goals of the United Nations 2030 Agenda for Sustainable Development ('the 2030 Agenda') ~~as well as the commitments under the recently revised European Neighbourhood Policy thus addressing root causes of migration~~. It should also contribute to the implementation of the Paris Agreement on Climate Change (COP 21).

Amendment 83 #

Beatriz BECERRA BASTERRECHEA, Anneli JÄÄTTEENMÄKI, Urmas PAET, Ilhan KYUCHYUK, Nedzhmi ALI, Jozo RADOŠ, Paavo VÄYRYNEN, Marielle DE SARNEZ

Proposal for a regulation
Recital 1

(1) The Union's ambitious External Investment Plan (EIP) is needed to engineer, guide and support investments ~~starting~~ in Africa and the Union's Neighbourhood for a start, as a means to ~~promote~~contribute to the achievement of the sustainable development goals of the United Nations 2030 Agenda for Sustainable Development ('the 2030 Agenda') as well as the commitments under the recently revised European Neighbourhood Policy, thus addressing root causes of migration. It should also contribute to the implementation of the Paris Agreement on Climate Change (COP 21).

Amendment 84 #

Proposal for a regulation
Recital 1 a (new)

(1a) Investments under the EFSD should focus on supporting micro enterprises and SMEs from developing countries, in order to create decent, sustainable and inclusive jobs, offer economic opportunities for women and young people and engage in a just transition towards a green and circular economy.

Amendment 85 #

Proposal for a regulation
Recital 2

(2) The EIP should incorporate the Union commitment under the Addis Ababa Action Agenda on Financing for Development. ~~It should also allow European inv~~Only if the 193 UN Member States which are parties to~~rs and private companies, including small and medium- sized enterprises, to participate more effectively~~ the agreement respect the commitments to combat tax evasion, corruption and laundering of illicit financial flows will it be possible for European investments to be more effective, efficient and transparent, contributing to sustainable development in ~~partner~~the countries concerned.

Amendment 86 #

Proposal for a regulation
Recital 2

(2) The EIP should incorporate the Union commitment under the Addis Ababa Action Agenda on Financing for Development. It should also allow European investors and private companies, including small and medium-sized enterprises, to participate more effectively to sustainable development in partner countries, with clear benchmarks, conditions and provisions in order to improve the socio-economic development and local private sector in the partner countries as absolute priority.

Amendment 87 #

Proposal for a regulation
Recital 2

(2) The EIP should incorporate the Union commitment under the Addis Ababa Action Agenda on Financing for Development, as well as ensuring investments made will be in accordance with article 208 TFEU. It should also allow European investors and private companies, including small and medium- sized enterprises, to participate more effectively to sustainable development in partner countries.

Amendment 88 #

Proposal for a regulation
Recital 2

(2) The EIP should incorporate the Union commitment under the Addis Ababa Action Agenda on Financing for Development. It should al~~so allow European~~low investors and private companies, including small and medium-sized enterprises, to participate more effectively to sustainable development in partner countries in line with the Union development and neighbourhood policies.

Amendment 89 #

Pina PICIERNO, Nicola CAPUTO

Proposal for a regulation
Recital 2

Amendment 90 #

Proposal for a regulation
Recital 2

Amendment 91 #

Fabio Massimo CASTALDO, Ignazio CORRAO, Marco VALLI

Proposal for a regulation
Recital 2

Amendment 92 #

Doru-Claudian FRUNZULICĂ, Eider GARDIAZABAL RUBIAL, Soraya POST

Proposal for a regulation
Recital 2 a (new)

(2a) The EFSD should contribute to the implementation of the UN's Agenda 2030 which recognizes international migration as a multi-dimensional reality of major relevance for the development of countries of origin, transit and destination, and requiring coherent and comprehensive responses while underlining the potential for migrants contributing to inclusive growth and sustainable development.

Amendment 93 #

Xabier BENITO ZILUAGA, Lola SÁNCHEZ CALDENTEY, Miguel URBÁN CRESPO, Stelios KOULOGLOU

Proposal for a regulation
Recital 3

Amendment 94 #

Proposal for a regulation
Recital 3

Amendment 95 #

Proposal for a regulation
Recital 3

Amendment 96 #

Beatriz BECERRA BASTERRECHEA, Anneli JÄÄTTEENMÄKI, Urmas PAET, Jozo RADOŠ, Hilde VAUTMANS, Marielle DE SARNEZ, Nedzhmi ALI

Proposal for a regulation
Recital 3

(3) This is in line with the Union Global Strategy for Foreign and Security Policy which ~~embeds challenges such as migration and resilience in the overall~~seeks to advance an integrated approach to EU foreign policy, challenges and ensur~~ing~~e coherence and synergies with European development and Neighbourhood policies.

Amendment 97 #

Proposal for a regulation
Recital 3

(3) This is in line with the Union Global Strategy for Foreign and Security Policy which embeds challenges such as migration and resilience in the overall EU foreign policy, ensuring ~~coherence and synergies with European development and Neighbourhood policies~~the external policy is coherent with the objectives of the development policy and ensuring synergies with European development and Neighbourhood policies.. This is in line with the EU Charter of Fundamental Rights and international Human Rights law, ensuring human rights based approach while addressing forced displacement and irregular migration.

Amendment 98 #

Proposal for a regulation
Recital 3

Amendment 99 #

Proposal for a regulation
Recital 4

source: 602.743

2017/03/29 CONT 58 amendments...

Amendment 29 #

Jonathan ARNOTT

Proposal for a regulation
Title 1 a (new)

The European Parliament rejects the Commission proposal.

Amendment 30 #

Proposal for a regulation
Citation 1 a (new)

having regard to the Protocol (No 1) of the Treaty on the Functioning of the European Union on the role of National Parliaments in the European Union,

Amendment 31 #

Proposal for a regulation
Citation 1 b (new)

having regard to the Protocol (No 2) of the Treaty on the Functioning of the European Union on the application of the principles of subsidiarity and proportionality,

Amendment 32 #

Proposal for a regulation
Recital 1

Amendment 33 #

Proposal for a regulation
Recital 2

Amendment 34 #

Proposal for a regulation
Recital 2

Amendment 35 #

Proposal for a regulation
Recital 2

Amendment 36 #

Proposal for a regulation
Recital 2

(2) The EIP should incorporate the Union commitment under the Addis Ababa Action Agenda on Financing for Development. It should also allow European investors ~~and private companies~~, including small and medium-sized enterprises, to participate more effectively toin sustainable development in partner countries.

Amendment 37 #

Proposal for a regulation
Recital 4

Amendment 38 #

Proposal for a regulation
Recital 4

Amendment 39 #

Proposal for a regulation
Recital 6

(6) Furthermore, the EFSD should operate as 'one-stop-shop' to receive financing proposals from financial institutions and public or private investors and deliver a wide range of ~~financial~~ support to eligible investments and guidance for investors. The EFSD Guarantee should be backed by the EFSD Guarantee Fund. The EFSD should deploy innovative instruments to support investments in sustainable development in partner countries and involve the private sector.

Amendment 40 #

Proposal for a regulation
Recital 8

Amendment 41 #

Proposal for a regulation
Recital 8

(8) Moreover, the Strategic Board should support the Commission in setting strategic guidance and overall investment goals. The Strategic Board should ~~also~~ support coordination and coherence between the regional platforms. This should ensure complementarity of the various instruments in external action. The Strategic Board should be co-chaired by the Commission and the High Representative of the Union for Foreign Affairs and Security Policy to ensure consistency and coherence with Union external policy objectives and partnership frameworks with third countries.

Amendment 42 #

Proposal for a regulation
Recital 8 a (new)

(8a) The Guarantee must not be used to fund major infrastructure projects which have a low impact on job creation and whose cost-benefit ratio renders the investment unsustainable. The Guarantee should only fund projects whose implementation is not controversial from the environmental, financial and social points of view on the basis of an independent in-depth ex ante assessment and an adequate cost-benefit analysis.

Amendment 43 #

Proposal for a regulation
Recital 10

(10) In order to provide for flexibility, increase the attractiveness for the private sector and maximise the impact of the investments it is appropriate to provide for a derogation from Article 58(1)(c)(vii) of Regulation (EU) No 966/2012 of the European Parliament and the Council24 by which the eligible counterparts who are bodies governed by private law could also be bodies which are not entrusted with the implementation of a public- private partnership and could also be bodies governed by the private law of a partner country. _________________ 24 of the European Parliament and the Council of 25 October 2012 on the financial rules applicable to the general budget of the Union and repealing Council Regulation (EC, Euratom) No 1605/2002 (OJ L 298, 26.10.2012, p. 1).deleted Regulation (EU, Euratom) No 966/2012

Amendment 44 #

Proposal for a regulation
Recital 10

(10) In order to: (a) provide for flexibility,; (b) increase the attractiveness for the private sector ~~and~~; (c) maximise the impact of the investments; it is appropriate to provide for a derogation from Article 58(1)(c)(vii) of Regulation (EU) No 966/2012 of the European Parliament and the Council24 by which the eligible counterparts who are bodies governed by private law could also be bodies which are not entrusted with the implementation of a public-private partnership and could also be bodies governed by the private law of a partner country. _________________ 24 Regulation (EU, Euratom) No 966/2012 of the European Parliament and the Council of 25 October 2012 on the financial rules applicable to the general budget of the Union and repealing Council Regulation (EC, Euratom) No 1605/2002 (OJ L 298, 26.10.2012, p. 1).

Amendment 45 #

Proposal for a regulation
Recital 14

(14) In order to increase the impact of the EFSD Guarantee in view of the needs for increasing investments and funding for projects that contribute to sustainable development and create decent employment opportunities in the regions concerned, Member States should have the possibility of providing contributions in the form of a guarantee or cash. Those contributions could be earmarked by region, sector or investment window.

Amendment 46 #

Proposal for a regulation
Recital 16

(16) The Commission should report annually to the European Parliament and the Council on the financing and investment operations covered by the EFSD Guarantee with a view to ensuring accountability to the European citizens. The report should be made public in order to allow relevant stakeholders, including civil society, to express their views. The Commission should also report annually to the European Parliament and the Council on the management of the EFSD Guarantee Fund so that accountability ~~and~~, transparency and effectiveness of the management are ensured.

Amendment 47 #

Proposal for a regulation
Recital 16

(16) The Commission ~~should~~must report annually to the European Parliament and the Council on the financing and investment operations covered by the EFSD Guarantee with a view to ensuring full accountability to the European citizens. The report ~~should~~must be made public in order to allow relevant stakeholders, including civil society, to express their views. The Commission ~~should~~must also report annually to the European Parliament and the Council on the management of the EFSD Guarantee Fund so that accountability and transparency are ensured.

Amendment 48 #

Proposal for a regulation
Recital 16

(16) The Commission should update and report annually to the European Parliament and the Council on the financing and investment operations covered by the EFSD Guarantee with a view to ensuring accountability to the European citizens. The report should be made public in order to allow relevant stakeholders, including civil society, to express their views. The Commission should also report annually to the European Parliament and the Council on the management of the EFSD Guarantee Fund so that accountability and transparency are ensured.

Amendment 49 #

Proposal for a regulation
Recital 16

(16) The Commission should report annually to the European Parliament and the Council on the financing and investment operations covered by the EFSD Guarantee with a view to ensuring accountability to ~~the European~~EU citizens. The report should be made public in order to allow relevant stakeholders, including civil society, to express their views. The Commission should also report annually to the European Parliament and the Council on the management of the EFSD Guarantee Fund so that accountability and transparency are ensured.

Amendment 50 #

Proposal for a regulation
Recital 17 a (new)

(17a) In light of the findings of the European Court of Auditors´ Special Report No 14/2014, the Commission should annually evaluate the improvement in its management capacities to make the operations of the EFSD more effective and transparent.

Amendment 51 #

Proposal for a regulation
Recital 19

(19) In order to contribute to the international fight against tax fraud, tax evasion and money-laundering, the eligible counterparts ~~should~~must not support any activities carried out for illegal purposes and ~~should~~must not participate in any financing or investment operation through a vehicle located in a non-cooperative jurisdiction.

Amendment 52 #

Proposal for a regulation
Article 3 – paragraph 1

1. The purpose of the EFSD as an integrated financial package shall be to support investments and increased access to financing, starting in African and Neighbourhood partner countries, through the supply of financing capacity in the form of grants, guarantees and other financial instruments to eligible ~~cou~~enterp~~arts investments and increased access to financing starting in African and Neighbourhood partner count~~rises.

Amendment 53 #

Proposal for a regulation
Article 3 – paragraph 2

2. The EFSD shall contribute to the achievement of the Sustainable Development Goals of the 2030 Agenda with a particular focus on sustainable growth, eradication of poverty, decent job creation, socio-economic sectors, improving access to public services, on climate change mitigation and adaptation and on the support to micro, small and medium sized enterprises, thus addressing root causes of migration and contributing to sustainable reintegration of returned migrants in their countries of origin while maximising additionality, delivering innovative products and crowding in private sector funds.

Amendment 54 #

Proposal for a regulation
Article 3 – paragraph 2

2. The EFSD shall contribute to the achievement of the Sustainable Development Goals of the 2030 Agenda with a particular focus on sustainable growth, ~~job creation~~the involvement of local communities, job creation, the creation of a circular economy, socio-economic sectors and on the support to micro, small and medium sized enterprises, thus addressing root causes of migration and contributing to sustainable reintegration of returned migrants in their countries of origin while maximising additionality, delivering innovative products and crowding in private sector funds.

Amendment 55 #

Proposal for a regulation
Article 3 – paragraph 2

2. The EFSD shall contribute to the achievement of the Sustainable Development Goals of the 2030 Agenda with ~~a particula~~the major focus on sustainable growth, job creation, socio-economic sectors and on the support to micro, small and medium sized enterprises, thus addressing root causes of migration and contributing to sustainable reintegration of returned migrants in their countries of origin while maximising additionality, delivering innovative products and crowding in private sector funds.

Amendment 56 #

Proposal for a regulation
Article 5 – paragraph 1 – subparagraph 2

It shall provide strategic guidance and support the Commission in setting overall investment goals as regards the use of the EFSD Guarantee, the criteria of eligibility of investment to the regional platforms and operating policies and procedures. The strategic board shall also support overall coordination, cooperation and coherence between the regional investment platforms and with the external lending mandate operations managed by the EIB, including the EIB resilience initiative. The strategic board activity will be overseen by a steering committee on a permanent basis within the European Parliament.

Amendment 57 #

Proposal for a regulation
Article 5 – paragraph 1 – subparagraph 2

ItAs its name implies, the Strategic Board shall provide strategic guidance and support the Commission in setting overall investment goals as regards the use of the EFSD Guarantee. The sStrategic bBoard shall also support overall coordination and coherence between the regional investment platforms and with the external lending mandate operations managed by the EIB, including the EIB resilience initiative.

Amendment 58 #

Proposal for a regulation
Article 6 – paragraph 1

1. The Union shall, after careful consideration of the viability of the project, provide an irrevocable and unconditional guarantee on first demand to the eligible counterpart for the financing and investment operations covered by this Regulation starting in the African and Neighbourhood partner countries.

Amendment 59 #

Proposal for a regulation
Article 6 – paragraph 1

Amendment 60 #

Proposal for a regulation
Article 7 – paragraph 3

3. The maximum period allowed for eligible counterparts to conclude agreements with financial intermediaries or final beneficiaries shall be four years after the conclusion of the relevant guarantee agreement.(Does not affect the English version.)

Amendment 61 #

Proposal for a regulation
Article 8 – paragraph 1 – introductory part

1. The financing and investment operations eligible for support through the EFSD Guarantee shall be consistent and aligned with Union policies, (in particular development and neighbourhood policies of the Union,) and with the partner countries' strategies and policies, and shall aim at supporting the following general objectives:

Amendment 62 #

Proposal for a regulation
Article 8 – paragraph 1 – point a

(a) contribute to economic and social development, with particular focus on sustainability and job creation (in particular for youth ~~and wome~~, women and people at risk of exclusion), thus addressing root causes of migration and contributing to sustainable reintegration of returned migrants in their countries of origin;

Amendment 63 #

Proposal for a regulation
Article 8 – paragraph 1 – point a

(a) contribute to economic and social development, with particular focus on sustainability ~~and~~, eradication of poverty and decent job creation (in particular for youth and women), thus addressing root causes of migration and contributing to sustainable reintegration of returned migrants in their countries of origin;

Amendment 64 #

Proposal for a regulation
Article 8 – paragraph 1 – point a

(a) contribute to economic and social development, with particular focus on sustainability and job creation (in particular for youth and women), thus addressing one of the root causes of migration ~~and~~while contributing to sustainable reintegration of returned migrants in their countries of origin;

Amendment 65 #

Proposal for a regulation
Article 8 – paragraph 1 – point b

(b) target socio-economic sectors, in particular infrastructure including sustainable energy, water, transport, information and communications technologies, environment, sustainable use of natural resources and blue growth, social infrastructure, human capital, in order to improve the socio-economic environment, while also taking account of the priorities of the beneficiaries of the guarantee;

Amendment 66 #

Proposal for a regulation
Article 8 – paragraph 1 – point b

(b) target socio-economic sectors, in particular infrastructure including sustainable energy, water, transport, information and communications technologies, environment, sustainable use of natural resources and blue growth, social infrastructure, human capital and the circular economy, in order to improve the socio-economic environment;

Amendment 67 #

Proposal for a regulation
Article 8 – paragraph 1 – point b

(b) target socio-economic sectors, in particular infrastructure, including:  sustainable energy,:  water,;  transport,;  information and communications technologies,;  the environment,;  sustainable use of natural resources and blue growth,;  social infrastructure,;  human capital,; in order to improve the socio-economic environment;

Amendment 68 #

Proposal for a regulation
Article 8 – paragraph 1 – point b a (new)

(ba) involve people living in the areas concerned in planning the projects funded;

Amendment 69 #

Proposal for a regulation
Article 8 – paragraph 1 – point c

(c) provide finance in favour of micro-, small- and medium-sized enterprises with a particular focus on ~~private sector development~~developing a stable private sector that is viable over time;

Amendment 70 #

Proposal for a regulation
Article 8 – paragraph 1 – point c

(c) provide finance in favour of micro-, small- and medium-sized enterprises with a particular focus on local private sector development;

Amendment 71 #

Proposal for a regulation
Article 8 – paragraph 1 – point e a (new)

(ea) not to be in any way linked to non-cooperative jurisdictions;

Amendment 72 #

Proposal for a regulation
Article 8 – paragraph 2 – introductory part

2. TWhile guarding against profiteering and/or monopolisation of services, the EFSD Guarantee shall support financing and investment operations which in particular:

Amendment 73 #

Proposal for a regulation
Article 8 – paragraph 2 – point c

(c) are demonstrated to be economically and financially viable, taking also into account the possible support from, and co-financing by, private and public partners to the project;

Amendment 74 #

Proposal for a regulation
Article 8 – paragraph 2 a (new)

2a. The Guarantee may not be used: (a) in the case of activities which encourage violations of the human rights of local and indigenous communities (land grabbing, paramilitary operations, activities in deforested areas), particularly in the countries affected by these phenomena; (b) in the case of large-scale infrastructure projects with a serious environmental impact and lacking in real added economic and social added value for the local population; (c) wherever there is any suspicion of environmental infringements and damage to society or to local communities, taking the precautionary principle into account.

Amendment 75 #

Proposal for a regulation
Article 13 – paragraph 7

7. From 1 January 2021, if, as a result of calls on the EFSD Guarantee, the level of resources in the Guarantee Fund falls below 50% of the provisioning rate referred to in paragraph 5, the Commission shall submit a report on a) the cause of the shortfall, with detailed explanations, and b) should it be deemed necessary, any exceptional measures that may be required to replenish the EFSD Guarantee Fund.

Amendment 76 #

Proposal for a regulation
Article 15 – paragraph 1 – point a

(a) an independent assessment of the financing and investment operations in operation and covered by the EFSD Guarantee, sector, country and regional levels and their compliance with this Regulation;

Amendment 77 #

Proposal for a regulation
Article 15 – paragraph 1 – point f

(f) an independent assessment of the added value of financing and investment operations of the eligible counterparts, and of the aggregate risk associated with those operations;

Amendment 78 #

Proposal for a regulation
Article 15 – paragraph 1 – point g

(g) detailed information on calls on the EFSD Guarantee, losses, returns, amounts recovered and any other payments received as well as indication of risks of future calls on the EFSD Guarantee;

Amendment 79 #

Proposal for a regulation
Article 15 – paragraph 1 a (new)

1a. An assessment of the achievements of overall investment goals set up by the strategic board pursuant to Article 5 of this regulation;

Amendment 80 #

Proposal for a regulation
Article 15 – paragraph 3 – subparagraph 1

By 31 March of each year, in the context of its financial statements of, the Commission shall submit to the European Parliament, to the Council and to the Court of Auditors~~, in the context of the financial statements of the Commission,~~ the required information on the situation of the EFSD Guarantee Fund. In addition, ~~it shall,~~ by 31 May of each year, it shall submit to the European Parliament, to the Council and to the Court of Auditors an annual report on the management of the EFSD Guarantee Fund in the previous calendar year, including an assessment of the adequacy of the provisioning and the level of the Guarantee Fund and - if necessary - of the need for its replenishment.

Amendment 81 #

Proposal for a regulation
Article 16 – paragraph 2

2. By 31 December 2020 and every three years thereafter (subject to revision, if necessary), the Commission shall evaluate the use of the EFSD Guarantee Fund. The Commission shall submit its evaluation report to the European Parliament and the Council. That evaluation report shall be accompanied by an opinion of the Court of Auditors.

Amendment 82 #

Proposal for a regulation
Article 17 a (new)

Article 17a The counterparts shall also facilitate access to information on the legal bases that exist and shall strategically publicise financing and investment operations in order to bring the Fund’s activities closer to citizens, public opinion and possible private investors.

Amendment 83 #

Proposal for a regulation
Article 19 – paragraph 1

~~1. The Commission or the eligible 1. counterparts shall notify the European Anti-Fraud Office (OLAF) promptly and provide it with the necessary information when,~~If at any stage of the preparation, implementation or closure of financing and investment operations covered by this Regulation, they Commission haves grounds for suspecting fraud, corruption, money laundering or any other illegal activity that may affect the financial interests of the Union., they or their eligible counterparts shall immediately notify the European Anti-Fraud Office (OLAF) and provide it with all necessary information to enable a full and thorough investigation;

Amendment 84 #

Proposal for a regulation
Article 19 – paragraph 2 – subparagraph 2

Where such illegal activities are proven, the eligible counterparts shall undertake recovery efforts with respect to its financing and investment operations covered by this Regulation that are concerned by such activities., and shall also provide to the relevant authorities all information needed for investigation and possible prosecution;

Amendment 85 #

Proposal for a regulation
Article 20 – paragraph 1

Amendment 86 #