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DRAFT OPINION (COM(2023)0335 – C90209/2023 – 2023/0199(COD))

On the proposal for a regulation of the European Parliament and of the Council establishing the Strategic Technologies for Europe Platform (‘STEP’) and amending Directive 2003/87/EC, Regulations (EU) 2021/1058, (EU) 2021/1056, (EU) 2021/1057, (EU) No 1303/2013, (EU) No 223/2014, (EU) 2021/1060, (EU) 2021/523, (EU) 2021/695, (EU) 2021/697 and (EU) 2021/241

ECON-PA-752779

Committee on Economic and Monetary Affairs · Rapporteur: Eva Maria Poptcheva

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The Committee on Economic and Monetary Affairs proposes amendments to the Commission's proposal for a Strategic Technologies for Europe Platform (STEP) regulation. It raises the additional funding to EUR 14 billion, split between the Innovation Fund, InvestEU, Horizon Europe and the European Defence Fund. It sets rules for a Sovereignty Seal valid for 5 years, and asks member states to treat Seal projects as a priority when revising recovery and resilience plans and when deciding on Modernisation Fund investments. It requires the Commission to set up a Sovereignty Portal as a single online platform for all EU funding programmes, with a self-assessment tool and a filterable list of funded projects, launched not later than 6 months after entry into force. It amends the InvestEU Regulation to raise the EU guarantee, to require that at least 75% goes to the EIB Group, and to require that at least 35% of that guarantee supports non-bankable projects and at least 30% cross-border projects. It removes the 6% cap on cash contributions to the InvestEU member state compartment in recovery and resilience plans, and extends ERDF support to large enterprises while asking that small and medium-sized enterprises are not excluded.

Committee position. The Committee on Economic and Monetary Affairs calls on the Committees on Budgets and on Industry, Research and Energy to take into account its amendments, which raise STEP funding, set Sovereignty Seal rules, create a single Sovereignty Portal, and adjust the InvestEU guarantee and recovery plan rules.

Key points

  1. The EU guarantee for the EU compartment under InvestEU would rise to EUR 36 152 310 073 in current prices, provisioned at 40%.
  2. Additional STEP funding of EUR 14 billion would be provided: EUR 5.75 billion for the Innovation Fund, EUR 4 billion for the InvestEU EU guarantee, EUR 0.75 billion for Horizon Europe and EUR 3.5 billion for the European Defence Fund.
  3. The Commission would award a Sovereignty Seal, valid for 5 years, to actions meeting minimum quality requirements under the named EU programmes.
  4. Member states would treat Sovereignty Seal actions as a priority when revising recovery and resilience plans, and would consider Seal projects for critical clean technologies as a priority for Modernisation Fund investments.
  5. The Sovereignty Portal would display all EU funding programmes under direct, shared or indirect management, include a self-assessment tool and open calls, and list projects awarded funds or a Sovereignty Seal.
  6. The Sovereignty Portal would be launched not later than 6 months after the regulation's entry into force and updated regularly.
  7. At least 75% of the EU guarantee under the EU compartment, amounting to EUR 27 114 232 555, would be granted to the EIB Group, which would provide an aggregate financial contribution of EUR 6 778 558 139.
  8. The Commission could exceptionally and temporarily allow the EIB Group more than 75% of the guarantee if implementing partners lack absorption capacity, and must justify this in its annual report to Parliament.
  9. The EIB Group would ensure that at least 35% of its EU guarantee supports non-bankable projects and at least 30% supports cross-border projects.
  10. The EU guarantee would cover up to 100% of the risk exposure in projects under the STEP policy window.
  11. The InvestEU Portal would cease to exist once integrated into the common Sovereignty Portal.
  12. Member states could include cash contributions to the InvestEU member state compartment in their recovery and resilience plans for STEP objectives, without the 6% cap on such costs.

Who is affected

  • Companies and project promoters seeking EU funds, who would use the Sovereignty Portal and could receive a Sovereignty Seal.
  • Member states, which would prioritise Seal projects in recovery plans and Modernisation Fund decisions and may contribute to InvestEU.
  • The EIB Group and other implementing partners, which would receive shares of the EU guarantee and must meet non-bankable and cross-border targets.
  • Small and medium-sized enterprises, which should not be excluded from ERDF programme funding.

Figures and deadlines

  • EUR 14 billion: additional funding for STEP.
  • EUR 5.75 billion: increase of the Innovation Fund endowment.
  • EUR 4 billion: increase of the EU guarantee for the InvestEU EU compartment.
  • EUR 0.75 billion: increase of the Horizon Europe financial envelope.
  • EUR 3.5 billion: increase for the European Defence Fund.
  • 5 years: validity period of the Sovereignty Seal.
  • 6 months after entry into force: deadline for launching the Sovereignty Portal.
  • 75%, 35% and 30%: shares of the EU guarantee for the EIB Group, non-bankable projects and cross-border projects.