Sittings · Document
DRAFT OPINION (COM(2023)0335 – C90209/2023 – 2023/0199(COD)) 2023-09-06
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
Committee on Economic and Monetary Affairs · Rapporteur: Eva Maria Poptcheva
AMENDMENTS
The Committee on Economic and Monetary Affairs calls on the Committee on Budgets and the Committee on Industry, Research and Energy, as the committees responsible, to take the following into account:
Amendment 1
Proposal for a regulation
Recital 2
| Text proposed by the Commission | Amendment |
| (2) The EU industry has proven its inbuilt resilience but is being challenged. High inflation, labour shortages, post-COVID supply chains disruptions, rising interest rates, and spikes in energy costs and input prices are weighing on the competitiveness of the EU industry. This is paired with strong, but not always fair, competition on the fragmented global market. The EU has already put forward several initiatives to support its industry, such as the Green Deal Industrial Plan,40 the Critical Raw Materials Act41 , the Net Zero Industry Act42 , the new Temporary Crisis and Transition Framework for State aid,43 and REPowerEU.44 While these solutions provide fast and targeted support, the EU needs a more structural answer to the investment needs of its industries, safeguarding cohesion and the level playing field in the Single Market and to reduce the EU’s strategic dependencies. | (2) The EU industry has proven its inbuilt resilience but is being challenged. High inflation, labour shortages, post-COVID supply chains disruptions, rising interest rates, and spikes in energy costs and input prices are weighing on the competitiveness of the EU industry. This is paired with strong, but not always fair, competition on the fragmented global market. The EU has already put forward several initiatives to support its industry, such as the Green Deal Industrial Plan,40 the Critical Raw Materials Act41 , the Net Zero Industry Act42 , the new Temporary Crisis and Transition Framework for State aid,43 and REPowerEU.44 While these solutions provide fast and targeted support, the EU needs a more structural answer to the investment needs of its industries, safeguarding cohesion and the level playing field in the Single Market, facilitating access to funding and reducing the EU’s strategic dependencies. |
| __________________ | __________________ |
| 40 Communication on A Green Deal Industrial Plan for the Net-Zero Age, COM(2023) 62 final. | 40 Communication on A Green Deal Industrial Plan for the Net-Zero Age, COM(2023) 62 final. |
| 41 COM(2023) 160 final | 41 COM(2023) 160 final |
| 42 COM(2023) 161 final | 42 COM(2023) 161 final |
| 43 Communication on a Temporary Crisis and Transition Framework for State Aid measures (OJ C 101, 17.3.2023, p. 3). | 43 Communication on a Temporary Crisis and Transition Framework for State Aid measures (OJ C 101, 17.3.2023, p. 3). |
| 44 Regulation (EU) 2023/435 as regards REPowerEU (OJ L 63, 28.2.2023, p. 1). | 44 Regulation (EU) 2023/435 as regards REPowerEU (OJ L 63, 28.2.2023, p. 1). |
Or. en
Amendment 2
Proposal for a regulation
Recital 6
| Text proposed by the Commission | Amendment |
| (6) The scale of investments needed for the transition require a full mobilisation of funding available under existing EU programmes and funds, inclusive those granting a budgetary guarantee for financing and investment operations and implementation of financial instruments and blending operations. Such funding should be deployed in a more flexible manner, to provide timely and targeted support for critical technologies in strategic sectors. Therefore, a Strategic Technologies for Europe Platform (‘STEP’) should give a structural answer to the Union investment needs by helping to better channel the existing EU funds towards critical investments aimed at supporting the development or manufacturing of critical technologies, while preserving a level playing field in the Single Market, thereby preserving cohesion and aiming at a geographically balanced distribution of projects financed under the STEP in accordance with the respective programme mandates. | (6) The scale of investments needed for the transition require a full mobilisation of funding available under existing EU programmes and funds, inclusive those granting a budgetary guarantee for financing and investment operations and implementation of financial instruments and blending operations. Such funding should be deployed in a more flexible manner, to provide timely and targeted support for critical technologies in strategic sectors. Therefore, a Strategic Technologies for Europe Platform (‘STEP’) should give a structural answer to the Union investment needs by helping to better channel the existing EU funds towards critical investments (including non-bankable investments) aimed at supporting the development or manufacturing of critical technologies, while preserving a level playing field in the Single Market, thereby preserving cohesion and aiming at a geographically balanced distribution of projects financed under the STEP in accordance with the respective programme mandates. |
Or. en
Amendment 3
Proposal for a regulation
Recital 7
| Text proposed by the Commission | Amendment |
| (7) The STEP should identify resources which should be implemented within the existing Union programmes and funds, the InvestEU, Horizon Europe, European Defence Fund and Innovation Fund. This should be accompanied by providing additional funding of EUR 10 billion. Of this, EUR 5 billion should be used to increase the endowment of the Innovation Fund46 and EUR 3 billion to increase the total amount of the EU guarantee available for the EU compartment under the InvestEU Regulation to EUR 7,5 billion,47 taking into account the relevant provisioning rate. EUR 0.5 billion should be made available to increase the financial envelope under the Horizon Europe Regulation,48 which should be amended accordingly; and EUR 1.5 billion to the European Defence Fund.49 | (7) The STEP should identify resources which should be implemented within the existing Union programmes and funds, the InvestEU, Horizon Europe, European Defence Fund and Innovation Fund. This should be accompanied by providing additional funding of EUR 14 billion. Of this, EUR 5.75 billion should be used to increase the endowment of the Innovation Fund46 and EUR 4 billion to increase the total amount of the EU guarantee available for the EU compartment under the InvestEU Regulation to EUR 10 billion,47 taking into account the relevant provisioning rate. EUR 0.75 billion should be made available to increase the financial envelope under the Horizon Europe Regulation,48 which should be amended accordingly; and EUR 3.5 billion to the European Defence Fund.49 |
| __________________ | __________________ |
| 46 Directive 2003/87/EC establishing a scheme for greenhouse gas emission allowance trading (OJ L 275, 25.10.2003, p. 32). | 46 Directive 2003/87/EC establishing a scheme for greenhouse gas emission allowance trading (OJ L 275, 25.10.2003, p. 32). |
| 47 Regulation (EU) 2021/523 establishing the InvestEU Programme (OJ L 107, 26.3.2021, p. 30). | 47 Regulation (EU) 2021/523 establishing the InvestEU Programme (OJ L 107, 26.3.2021, p. 30). |
| 48 Regulation (EU) 2021/695 establishing Horizon Europe (OJ L 170, 12.5.2021, p. 1). | 48 Regulation (EU) 2021/695 establishing Horizon Europe (OJ L 170, 12.5.2021, p. 1). |
| 49 Regulation (EU) 2021/697 establishing the European Defense Fund (OJ L 170, 12.5.2021, p. 149.) | 49 Regulation (EU) 2021/697 establishing the European Defense Fund (OJ L 170, 12.5.2021, p. 149.) |
Or. en
Amendment 4
Proposal for a regulation
Recital 8
| Text proposed by the Commission | Amendment |
| (8) A Sovereignty Seal should be awarded to projects contributing to the STEP objectives, provided that the project has been assessed and complies with the minimum quality requirements, in particular eligibility, exclusion and award criteria, provided by a call for proposals under Horizon Europe, the Digital Europe programme,50 the EU4Health programme,51 the European Defence Fund or the Innovation Fund, and regardless of whether the project has received funding under those instruments. These minimum quality requirements will be established with a view to identify high quality projects. This Seal should be used as a quality label, to help projects attract public and private investments by certifying its contribution to the STEP objectives. Moreover, the Seal will promote better access to EU funding, notably by facilitating cumulative or combined funding from several Union instruments. | (8) A Sovereignty Seal should be awarded to projects contributing to the STEP objectives, provided that the project has been assessed and complies with the minimum quality requirements, in particular eligibility, exclusion and award criteria, provided by a call for proposals under Horizon Europe, the Digital Europe programme,50 the EU4Health programme,51 the European Defence Fund or the Innovation Fund, and regardless of whether the project has received funding under those instruments. The Commission should ensure that any future changes to the mentioned regulations regarding the minimum quality requirements provided by each call for proposals aim to preserve their alignment. These minimum quality requirements will be established with a view to identify high quality projects. This Seal should be used as a quality label, to help projects attract public and private investments by certifying its contribution to the STEP objectives. Moreover, the Seal will promote better access to EU funding, notably by facilitating cumulative or combined funding from several Union instruments. Member States are also encouraged to take into account the Sovereignty Seal when granting national support to projects. |
| __________________ | __________________ |
| 50 Regulation (EU) 2021/694 establishing the Digital Europe Programme (OJ L 166, 11.5.2021, p. 1). | 50 Regulation (EU) 2021/694 establishing the Digital Europe Programme (OJ L 166, 11.5.2021, p. 1). |
| 51 Regulation (EU) 2021/522 establishing a Programme for the Union’s action in the field of health, EU4Health Programme (OJ L 107, 26.3.2021, p. 1). | 51 Regulation (EU) 2021/522 establishing a Programme for the Union’s action in the field of health, EU4Health Programme (OJ L 107, 26.3.2021, p. 1). |
Or. en
Amendment 5
Proposal for a regulation
Recital 10
| Text proposed by the Commission | Amendment |
| (10) A new publicly available website (the ‘Sovereignty Portal’) should be set up by the Commission to provide information on available support to companies and project promoters seeking funds for STEP investments. To that end, it should display in an accessible and user-friendly manner the funding opportunities for STEP investments available under the EU budget. This should include information about directly managed programmes, such as Horizon Europe, the Digital Europe programme, the EU4Health programme, and the Innovation Fund, and also other programmes such as InvestEU, the RRF, and cohesion policy funds. Moreover, the Sovereignty Portal should help increase the visibility for STEP investments towards investors, by listing the projects that have been awarded a Sovereignty Seal. The Portal should also list the national competent authorities responsible for acting as contact points for the implementation of the STEP at national level. | (10) A new publicly available website (the ‘Sovereignty Portal’) should be set up by the Commission to provide information on available support to companies and project promoters seeking funds under EU funding programmes. This Sovereignty Portal should bring EU funding opportunities closer to the citizens and businesses. For this purpose, the Portal should become a single and common online platform, where all available EU funding opportunities are displayed in a comprehensive, accessible and user-friendly manner. It seeks to solve an existing market failure, namely an asymmetry of information problem, that hampers the effective and efficient implementation of EU funds. This Portal should include information about directly managed programmes, including but not limited to Horizon Europe, the Digital Europe programme, the EU4Health programme, and the Innovation Fund, and also other programmes under shared or indirect management, such as InvestEU, the RRF, and cohesion policy funds. The Sovereignty Portal should also include a self-assessment tool and information on any open calls as a means to facilitate access to EU funding. The Sovereignty Portal shall display a list of programmes that have been awarded funds under any EU funding programme. Moreover, the Sovereignty Portal should help increase the visibility for STEP investments towards investors, by listing the projects that have been awarded a Sovereignty Seal. The Portal should also list the national competent authorities responsible for acting as contact points for the implementation of the STEP at national level. The Commission should ensure that already existing Portals (such as, the InvestEU Portal) cease to exist once they have been integrated in the common Sovereignty Portal. |
Or. en
Amendment 6
Proposal for a regulation
Recital 13
| Text proposed by the Commission | Amendment |
| (13) In order to extend support possibilities for investments aimed at strengthening industrial development and reinforcement of value chains in strategic sectors, the scope of support from the ERDF should be extended by providing for new specific objectives under the ERDF, without prejudice to the rules on eligibility of expenditure and climate spending as set out in Regulation (EU) 2021/106055 and Regulation (EU) 2021/105856 . In strategic sectors, it should also be possible to support productive investments in enterprises other than SMEs, which can make a significant contribution to the development of less developed and transition regions, as well as in more developed regions of Member States with a GDP per capita below the EU average. Managing authorities are encouraged to promote the collaboration between large enterprises and local SMEs, supply chains, innovation and technology ecosystems. This would allow reinforcing Europe’s overall capacity to strengthen its position in those sectors through providing access to all Member States for such investments, thus counteracting the risk of increasing disparities. | (13) In order to extend support possibilities for investments aimed at strengthening industrial development and reinforcement of value chains in strategic sectors, the scope of support from the ERDF should be extended by providing for new specific objectives under the ERDF, without prejudice to the rules on eligibility of expenditure and climate spending as set out in Regulation (EU) 2021/106055 and Regulation (EU) 2021/105856 . In strategic sectors, it should also be possible to support productive investments in enterprises other than SMEs, which can make a significant contribution to the development of less developed and transition regions, as well as in more developed regions of Member States with a GDP per capita below the EU average. However, even if this possibility exists, it is of the utmost importance that SMEs are not excluded from the programme funding, and a significant and proportionate part of it should still be allocated to them. Managing authorities are encouraged to promote the collaboration between large enterprises and local SMEs, supply chains, innovation and technology ecosystems, and to ensure that SMEs still have effective access to the programme. These changes would reinforce Europe’s overall capacity to strengthen its position in those sectors through providing access to all Member States for such investments, thus counteracting the risk of increasing disparities. |
| __________________ | __________________ |
| 55 Regulation (EU) 2021/1060 laying down common provisions (OJ L 231, 30.6.2021, p. 159). | 55 Regulation (EU) 2021/1060 laying down common provisions (OJ L 231, 30.6.2021, p. 159). |
| 56 Regulation (EU) 2021/1058 on the European Regional Development Fund and on the Cohesion Fund (OJ L 224, 24.6.2021, p. 31). | 56 Regulation (EU) 2021/1058 on the European Regional Development Fund and on the Cohesion Fund (OJ L 224, 24.6.2021, p. 31). |
Or. en
Amendment 7
Proposal for a regulation
Recital 19
| Text proposed by the Commission | Amendment |
| (19) InvestEU is the EU flagship programme to boost investment, especially the green and digital transition, by providing demand-driven financing, including through blending mechanisms, and technical assistance. Such approach contributes to crowd in additional public and private capital. Given the high market demand of InvestEU guarantee, the EU compartment of InvestEU should be reinforced to correspond to the objectives of the STEP. This will, among other things, reinforce InvestEU’s existing possibility to invest in projects forming part of an IPCEI, within the identified critical technology sectors. In addition, Member States are encouraged to contribute to the InvestEU Member State compartment to support financial products in line with the STEP objectives, without prejudice to applicable State aid rules. It should be possible for Member States to include as a measure in their recovery and resilience plans a cash contribution for the purpose of the Member State compartment of InvestEU to support objectives of the STEP. That additional contribution to support objectives of the STEP could reach up to 6% of their recovery and resilience plan’s total financial allocation to the Member State compartment of InvestEU. Additional flexibility and clarifications should also be introduced to better pursue the objectives of the STEP. | (19) InvestEU is the EU flagship programme to boost investment, especially the green and digital transition, by providing demand-driven financing, including through blending mechanisms, and technical assistance. Such approach contributes to crowd in additional public and private capital. Given the high market demand of InvestEU guarantee, the EU compartment of InvestEU should be reinforced to correspond to the objectives of the STEP. This will, among other things, reinforce InvestEU’s existing possibility to invest in projects forming part of an IPCEI, within the identified critical technology sectors. In addition, Member States are encouraged to contribute to the InvestEU Member State compartment to support financial products in line with the STEP objectives, without prejudice to applicable State aid rules. It should be possible for Member States to include as a measure in their recovery and resilience plans a cash contribution for the purpose of the Member State compartment of InvestEU to support objectives of the STEP. Additional flexibility and clarifications should also be introduced to better pursue the objectives of the STEP, including measures aiming to channel all necessary resources to non-bankable and cross-border critical projects as the former potentially offer a higher reward and would pave the way for future EU leadership in those sectors, and the latter would contribute to the cohesion of the Union. |
Or. en
Amendment 8
Proposal for a regulation
Article 3 – paragraph 1 – point a
| Text proposed by the Commission | Amendment |
| (a) a Union guarantee referred to in Article 4(1) of Regulation (EU) 2021/523 with the indicative amount of EUR 7 500 000 000 That guarantee shall be implemented in accordance with Regulation (EU) 2021/523; | (a) a Union guarantee referred to in Article 4(1) of Regulation (EU) 2021/523 with the indicative amount of EUR 10 000 000 000. That guarantee shall be implemented in accordance with Regulation (EU) 2021/523; |
Or. en
Amendment 9
Proposal for a regulation
Article 3 – paragraph 1 – point b
| Text proposed by the Commission | Amendment |
| (b) an amount of EUR 500 000 000 in current prices of the financial envelope referred to in point (i) of Article 12(2)(c) of Regulation (EU) 2021/695. That amount shall be implemented in accordance with Regulation (EU) 2021/695; | (b) an amount of EUR 750 000 000 in current prices of the financial envelope referred to in point (i) of Article 12(2)(c) of Regulation (EU) 2021/695. That amount shall be implemented in accordance with Regulation (EU) 2021/695; |
Or. en
Amendment 10
Proposal for a regulation
Article 3 – paragraph 1 – point c
| Text proposed by the Commission | Amendment |
| (c) an amount of EUR 5 000 000 000 in current prices of the financial envelope referred to in the sixth subparagraph of Article 10a(8) of Directive 2003/87/EC. That amount shall be implemented within the Innovation Fund in accordance with the rules of Article 10a(8) of Directive 2003/87/EC and Commission Delegated Regulation [2019/856]. | (c) an amount of EUR 5 750 000 000 in current prices of the financial envelope referred to in the sixth subparagraph of Article 10a(8) of Directive 2003/87/EC. That amount shall be implemented within the Innovation Fund in accordance with the rules of Article 10a(8) of Directive 2003/87/EC and Commission Delegated Regulation [2019/856]. |
Or. en
Amendment 11
Proposal for a regulation
Article 3 – paragraph 1 – point d
| Text proposed by the Commission | Amendment |
| (d) An amount of EUR 1 500 000 000 in current prices of the financial envelope refered to in Article 4(1) of Regulation (EU) 2021/697. That amount shall be implemented in accordance with Regulation (EU) 2021/697. | (d) An amount of EUR 3 500 000 000 in current prices of the financial envelope refered to in Article 4(1) of Regulation (EU) 2021/697. That amount shall be implemented in accordance with Regulation (EU) 2021/697. |
Or. en
Amendment 12
Proposal for a regulation
Article 4 – paragraph 1
| Text proposed by the Commission | Amendment |
| 1. The Commission shall award a Sovereignty Seal to any action contributing to any of the Platform objectives, provided the action has been assessed and complies with the minimum quality requirements, in particular eligibility, exclusion and award criteria, provided by a call for proposals under Regulation (EU) 2021/695, Regulation (EU) 2021/694, Regulation (EU) 2021/697, Regulation (EU) 2021/522, or Commission Delegated Regulation (EU) 2019/856. | 1. The Commission shall award a Sovereignty Seal, valid for a period of 5 years, to any action contributing to any of the Platform objectives, provided the action has been assessed and complies with the minimum quality requirements, in particular eligibility, exclusion and award criteria, provided by a call for proposals under Regulation (EU) 2021/695, Regulation (EU) 2021/694, Regulation (EU) 2021/697, Regulation (EU) 2021/522, or Commission Delegated Regulation (EU) 2019/856. |
Or. en
Amendment 13
Proposal for a regulation
Article 4 – paragraph 3
| Text proposed by the Commission | Amendment |
| 3. When revising their recovery and resilience plans in accordance with Regulation (EU) 2021/241, Member States shall, without prejudice to the provisions of that Regulation, consider as a priority action which have been awarded a Sovereignty Seal in accordance with paragraph 1. | 3. When revising their recovery and resilience plans in accordance with Regulation (EU) 2021/241, Member States shall, without prejudice to the provisions of that Regulation, consider as a priority the actions that have been awarded a Sovereignty Seal in accordance with paragraph 1. |
Or. en
Amendment 14
Proposal for a regulation
Article 4 – paragraph 4
| Text proposed by the Commission | Amendment |
| 4. When deciding on investment projects to finance from their respective shares of the Modernisation Fund in accordance with Article 10d of Directive 2003/87/EC, Member States shall consider as a priority project for critical clean technologies which have received the Sovereignty Seal in accordance with paragraph 1. In addition, Member States may decide to grant national support to projects with a Sovereignty Seal contributing to the Platform objective referred to in Article 2(1), point (a)(ii). | 4. When deciding on investment projects to finance from their respective shares of the Modernisation Fund in accordance with Article 10d of Directive 2003/87/EC, Member States shall consider as a priority the projects for critical clean technologies which have received the Sovereignty Seal in accordance with paragraph 1. In addition, Member States may decide to grant national support to projects with a Sovereignty Seal contributing to the Platform objective referred to in Article 2(1), point (a)(ii). |
Or. en
Amendment 15
Proposal for a regulation
Article 4 – paragraph 5
| Text proposed by the Commission | Amendment |
| 5. Under Regulation (EU) 2021/523, the Sovereignty Seal shall be taken into account in the context of the procedure provided for in Article 19 of the European Investment Bank Statute and of the policy check as laid down in Article 23(3) of that Regulation. In addition, the implementing partners shall examine projects having been awarded the Sovereignty Seal in case they fall within their geographic and activity scope as laid down in Article 26(5) of that Regulation. | 5. Under Regulation (EU) 2021/523, the Sovereignty Seal shall be taken into account in the context of the procedure provided for in Article 19 of the European Investment Bank Statute. |
Or. en
Justification
Avoid repetition with Article 16 of this Regulation
Amendment 16
Proposal for a regulation
Article 6 – paragraph 1 – introductory part
| Text proposed by the Commission | Amendment |
| 1. The Commission shall establish a dedicated publicly available website (the ‘Sovereignty portal’), providing investors with information about funding opportunities for projects linked to the Platform objectives and grant visibility to those projects, in particular by displaying the following information: | 1. The Commission shall establish a dedicated publicly available website (the ‘Sovereignty portal’) where information about all EU funding programmes under direct, shared or indirect management is displayed. |
Or. en
Amendment 17
Proposal for a regulation
Article 6 – paragraph 1 – point a
| Text proposed by the Commission | Amendment |
| (a) ongoing and upcoming calls for proposals and calls for tender linked to the Platform objectives under the respective programmes and funds; | deleted |
Or. en
Amendment 18
Proposal for a regulation
Article 6 – paragraph 1 – point b
| Text proposed by the Commission | Amendment |
| (b) projects that have been awarded a Sovereignty Seal quality label in accordance with Article 4; | deleted |
Or. en
Amendment 19
Proposal for a regulation
Article 6 – paragraph 1 – point c
| Text proposed by the Commission | Amendment |
| (c) projects that have been identified as strategic projects under the [Net-Zero Industry Act] and the [Critical Raw Materials Act], to the extent that they fall within the scope of Article 2; | deleted |
Or. en
Amendment 20
Proposal for a regulation
Article 6 – paragraph 1 – point d
| Text proposed by the Commission | Amendment |
| (d) contacts to the national competent authorities designated in accordance with paragraph 4; | deleted |
Or. en
Amendment 21
Proposal for a regulation
Article 6 – paragraph 1 a (new)
| Text proposed by the Commission | Amendment |
| 1 a. The Sovereignty Portal shall serve project promoters to find available EU funding programmes that are relevant for their project. With this aim, the Sovereignty Portal shall include: | |
| (a) information about all EU funding programmes and access to any open calls for proposals and calls for tender, and | |
| (b) a self-assessment tool for project promoters, which will gather information about the particular project in order to highlight the relevant EU funding programmes under direct, shared or indirect management, for which the project could be eligible. |
Or. en
Amendment 22
Proposal for a regulation
Article 6 – paragraph 1 b (new)
| Text proposed by the Commission | Amendment |
| 1 b. The Sovereignty Portal shall display an up to date list of projects that have been awarded funds under any EU funding programme, as well as those projects that have been awarded a Sovereignty Seal according to Article 4 of this Regulation. The Portal shall allow public and private investors to filter the listed projects. |
Or. en
Amendment 23
Proposal for a regulation
Article 6 – paragraph 3
| Text proposed by the Commission | Amendment |
| 3. The Sovereignty portal shall be launched at the [date of the entry into force of this Regulation] and shall be updated by the Commission regularly. | 3. The Sovereignty portal shall be launched not later than 6 months after the [date of the entry into force of this Regulation] and shall be updated by the Commission regularly. |
Or. en
Amendment 24
Proposal for a regulation
Article 16 – paragraph 1 – point 2 – point a
Regulation (EU) 2021/523
Article 4 – paragraph 1
| Text proposed by the Commission | Amendment |
| The EU guarantee for the purposes of the EU compartment referred to in Article 9(1), point (a), shall be EUR 33 652 310 073 in current prices. It shall be provisioned at the rate of 40 %. The amount referred to in Article 35(3), first subparagraph, point (a), shall be also taken into account for contributing to the provisioning resulting from that provisioning rate.; | The EU guarantee for the purposes of the EU compartment referred to in Article 9(1), point (a), shall be EUR 36 152 310 073 in current prices. It shall be provisioned at the rate of 40 %. The amount referred to in Article 35(3), first subparagraph, point (a), shall be also taken into account for contributing to the provisioning resulting from that provisioning rate.; |
Or. en
Amendment 25
Proposal for a regulation
Article 16 – paragraph 1 – point 2 – point b
Regulation (EU) 2021/523
Article 4 – paragraph 2
| Text proposed by the Commission | Amendment |
| An amount of EUR 18 827 310 073 in current prices of the amount referred to in the first subparagraph of paragraph 1 of this Article shall be allocated for the objectives referred to in Article 3(2).; | An amount of EUR 21 327 310 073 in current prices of the amount referred to in the first subparagraph of paragraph 1 of this Article shall be allocated for the objectives referred to in Article 3(2).; |
Or. en
Amendment 26
Proposal for a regulation
Article 16 – paragraph 1 – point 6
Regulation (EU) 2021/523
Article 13 – paragraph 4
| Text proposed by the Commission | Amendment |
| 4. At least 75 % of the EU guarantee under the EU compartment as referred to in Article 4(1), first subparagraph, amounting to at least EUR 25 239 232 554, shall be granted to the EIB Group. The EIB Group shall provide an aggregate financial contribution amounting to at least EUR 6 309 808 138. That contribution shall be provided in a manner and form that facilitates the implementation of the InvestEU Fund and the achievement of the objectives set out in Article 15(2).; | 4. 75 % of the EU guarantee under the EU compartment as referred to in Article 4(1), first subparagraph, amounting to EUR 27 114 232 555 , shall be granted to the EIB Group. The EIB Group shall provide an aggregate financial contribution amounting to EUR 6 778 558 139. That contribution shall be provided in a manner and form that facilitates the implementation of the InvestEU Fund and the achievement of the objectives set out in Article 15(2). |
| If the Commission determines that the implementing partners do not have sufficient absorption capacity, the Commission may exceptionally and temporarily allow the EIB Group to be granted more than 75% of the EU guarantee under the EU compartment. |
Or. en
Amendment 27
Proposal for a regulation
Article 16 – paragraph 1 – point 6 a (new)
Regulation (EU) 2021/523
Article 13 – paragraph 5
| Present text | Amendment |
| (6 a) Article 13(5) shall be replaced by the following: | |
| The remaining 25 % of the EU guarantee under the EU compartment shall be granted to other implementing partners, which shall also provide a financial contribution to be determined in the guarantee agreements. | "The remaining 25 % of the EU guarantee under the EU compartment shall be granted to other implementing partners, unless the Commission adopts the decision referred to in paragraph 4. The implementing partners shall also provide a financial contribution to be determined in the guarantee agreements." |
Or. en
Justification
Ensure the coherence of the InvestEU text with the amendments tabled in the articles of the proposal where ECON Committee has shared competence.
Amendment 28
Proposal for a regulation
Article 16 – paragraph 1 – point 6 b (new)
Regulation (EU) 2021/523
Article 13 – paragraph 5 a (new)
| Text proposed by the Commission | Amendment |
| (6 b) In Article 13, the following paragraph shall be inserted: | |
| "5a The Commission shall mention and justify any decision to allow the EIB Group to be granted more than 75% of the guarantee in the Annual Report to the European Parliament referred to in article 7 of Regulation.../... [STEP Regulation]. The European Commission shall also inform of any actions aiming to increase the absorption capacity of the other implementing partners." |
Or. en
Amendment 29
Proposal for a regulation
Article 16 – paragraph 1 – point 6 c (new)
Regulation (EU) 2021/523
Article 13 – paragraph 6 a (new)
| Text proposed by the Commission | Amendment |
| (6 c) In Article 13, the following paragraph shall be inserted: | |
| "6a The EIB Group shall ensure that: | |
| (a) at least, 35% of the EU guarantee granted to the EIB Group will support investment on non-bankable projects. | |
| (b) at least, 30% of the EU guarantee granted to the EIB Group will support cross-border projects." |
Or. en
Amendment 30
Proposal for a regulation
Article 16 – paragraph 1 – point 6 d (new)
Regulation (EU) 2021/523
Article 19 – paragraph 1 – subparagraph 2
| Present text | Amendment |
| (6 d) In Article 19(1), the second sub-paragraph shall be replaced by the following: | |
| The implementing partner shall have appropriate exposure at its own risk to financing and investment operations supported by the EU guarantee, unless exceptionally the policy objectives targeted by the financial product to be implemented are of such nature that the implementing partner could not reasonably contribute its own risk-bearing capacity to it. | "The implementing partner shall have appropriate exposure at its own risk to financing and investment operations supported by the EU guarantee, unless exceptionally the policy objectives targeted by the financial product to be implemented are of such nature that the implementing partner could not reasonably contribute its own risk-bearing capacity to it. The EU guarantee will cover up to 100% of the risk exposure in projects that fall under the STEP policy window." |
Or. en
Justification
Ensure coverage of high-risk investment in STEP projects.
Amendment 31
Proposal for a regulation
Article 16 – paragraph 1 – point 9
Regulation (EU) 2021/523
Article 25 – paragraph 2 – point j
| Text proposed by the Commission | Amendment |
| (j) provide advisory support to equity fund managers active in the areas referred to in point (e) of Article 8(1). | (j) provide advisory support to equity fund managers and other relevant stakeholders active in the areas referred to in point (e) of Article 8(1), including, regarding the valuation of intangible assets. |
Or. en
Amendment 32
Proposal for a regulation
Article 16 – paragraph 1 – point 9 a (new)
Regulation (EU) 2021/523
Article 26 – paragraph 1
| Present text | Amendment |
| (9 a) Article 26(1) shall be replaced by the following: | |
| The Commission shall establish the InvestEU Portal. The InvestEU Portal shall be an easily accessible and user-friendly project database that provides relevant information for each project. | "The Commission shall establish the InvestEU Portal. The InvestEU Portal shall be an easily accessible and user-friendly project database that provides relevant information for each project. The Commission shall ensure the InvestEU Portal ceases to exist once it is integrated in the common Sovereignty Portal, as referred to in Article 6 of the [STEP Regulation]." |
Or. en
Justification
Avoid the inefficiencies of having two portals with the same information.
Amendment 33
Proposal for a regulation
Article 16 – paragraph 1 – point 12
Regulation (EU) 2021/523
Annex I – point e
| Text proposed by the Commission | Amendment |
| (e) up to EUR 7 500 000 000 for objectives referred to in Article 3(2), point (e). | (e) up to EUR 10 000 000 000 for objectives referred to in Article 3(2), point (e). |
Or. en
Amendment 34
Proposal for a regulation
Article 19 – paragraph 1 – point 1
Regulation (EU) 2021/241
Article 7 – paragraph 3
| Text proposed by the Commission | Amendment |
| 3. Without prejudice to paragraph 2, Member States may also propose to include in their recovery and resilience plan, as estimated costs, the amount of the cash contribution for the purpose of the Member State compartment pursuant to the relevant provisions of the InvestEU Regulation exclusively for measures supporting investment operations contributing to the STEP objectives referred to in Article 2 of Regulation .../...71 [STEP Regulation]. Those costs shall not exceed 6 % of the recovery and resilience plan’s total financial allocation, and the relevant measures, as set out in the recovery and resilience plan, shall respect the requirements of this Regulation. | 3. Without prejudice to paragraph 2, Member States may also propose to include in their recovery and resilience plan, as estimated costs, the amount of the cash contribution for the purpose of the Member State compartment pursuant to the relevant provisions of the InvestEU Regulation exclusively for measures supporting investment operations contributing to the STEP objectives referred to in Article 2 of Regulation .../...71 [STEP Regulation]. The relevant measures, as set out in the recovery and resilience plan, shall respect the requirements of this Regulation. |
| __________________ | __________________ |
| 71 Regulation …/… of the European Parliament and of the Council … [insert full title and OJ reference]. | 71 Regulation …/… of the European Parliament and of the Council … [insert full title and OJ reference]. |
Or. en