### since the investment plan for europe was presented in november 20143 , the conditions for an uptake in investment have improved and confidence in europe ' s economy and growth are returning . the union is now in its fourth year of moderate recovery , with gross domestic product growing at 2% in 2015 . the comprehensive efforts initiated with the investment plan are already delivering concrete results , despite the fact that macroeconomic effects of larger investment projects cannot be immediate . investment is expected to pick up gradually throughout 2016 and 2017 although it remains below historical levels . __________________ 3 com 903 final . ### since the investment plan for europe was presented in november 20143 , the conditions for an uptake in investment have improved and confidence in europe ' s economy and growth are returning . the union is now in its fourth year of moderate recovery , with gross domestic product growing at 2% in 2015 . the comprehensive efforts initiated with the investment plan are already delivering concrete results , despite the fact that macroeconomic effects of larger investment projects cannot be immediate . investment is expected to pick up gradually throughout 2016 and 2017 although the pace is still timid and can be reversible , and remains below pre - crisis levels . __________________ 3 com 903 final .


### the eib shall target that at least 40 % of efsi financing under the infrastructure and innovation window supports projects with components that contribute to climate action , in line with the cop21 commitments . the steering board shall provide detailed guidance to that end . ; ### the eib shall target that at least 40 % of efsi financing under the infrastructure and innovation window supports projects with components that contribute to climate action and job creation , in line with the cop21 commitments and the europe 2020 strategy . the steering board shall provide detailed guidance to that end . ;


### in order to reinforce the take - up of the efsi in less - developed and transition regions , the scope of the general objectives eligible for efsi support should be enlarged . ### in order to reinforce the take - up of the efsi , particularly in european areas with high levels of unemployment and in less - developed and transition areas , the scope of the general objectives eligible for efsi support should be enlarged .


### the extended efsi should address remaining market failures and sub - optimal investment situations and continue to mobilise private sector financing in investments crucial for europe’s future job creation – including for the youth – , growth and competitiveness with strengthened additionality . they include investments in the areas of energy , environment and climate action , social and human capital and related infrastructure , healthcare , research and innovation , cross - border and sustainable transport , as well as the digital transformation . in particular , the contribution of operations supported by the efsi to achieving the union ' s ambitious targets set at the paris climate conference should be reinforced . energy interconnection priority projects and energy efficiency projects should also be increasingly targeted . in addition , efsi support to motorways should be avoided , unless it is needed to support private investment in transport in cohesion countries or in cross - border transport projects involving at least one cohesion country . for reasons of clarity , although they are already eligible , it should be explicitly laid down that projects in the fields of agriculture , fishery and aquaculture come within the general objectives eligible for efsi support . ### the extended efsi should address remaining market failures and sub - optimal investment situations and continue to mobilise private sector financing in investments crucial for europe’s future job creation – including for the youth – , sustainable growth and development and competitiveness with strengthened additionality . they include investments in the areas of energy , environment and climate action , social and human capital and related cross - cutting infrastructure , healthcare , research and innovation , cross - border and sustainable transport , as well as the digital transformation , areas which have the highest gdp economic multipliers in order to strengthen economic , social and territorial cohesion . in particular , the contribution of operations supported by the efsi to achieve the union ' s ambitious targets set at the paris climate conference and by europe 2020 strategy , especially those that tackle unemployment and inequalities , should be reinforced . energy interconnection priority projects and energy efficiency projects should also be increasingly targeted . for reasons of clarity , although they are already eligible , it should be explicitly laid down that projects in the fields of agriculture , fishery , aquaculture and technologies related to security and defence industries , come within the general objectives eligible for efsi support .


### that positive momentum should be maintained and efforts need to be continued to bring investment back to its long - term sustainable trend . the mechanisms of the investment plan work and should be reinforced to continue the mobilisation of private investments in sectors important to europe ' s future and where market failures or sub - optimal investment situations remain . ### that positive momentum should be maintained and efforts need to be continued to bring investment back to its long - term sustainable trend reaching the real economy . the mechanisms of the investment plan work and should be reinforced to continue the mobilisation of private investments in sectors important to europe ' s future and where market failures or sub - optimal investment situations remain .


### selling arrangements of firearms and their components by means of distance communication may pose a serious threat to security as they are more difficult to control than the conventional selling methods , especially as regards the on line verification of the legality of authorisations . it is therefore appropriate to limit the selling of arms and components by means of distance communication , notably internet , to dealers and brokers . ### selling arrangements of firearms and their components by means of distance communication may pose particular threats to security as they are more difficult to control than the conventional selling methods . it is therefore appropriate to ensure adequate controls with regards to the selling of arms and components by means of distance communication .


### taking into consideration the high risk of reactivating badly deactivated weapons and in order to enhance security across the union , deactivated firearms should be covered by this directive . additionally , for the most dangerous firearms stricter rules should be introduced in order to ensure that those firearms are not allowed to be owned or traded . those rules should also apply to firearms of that category even after they have been deactivated . where those rules are not respected , member states should take appropriate measures including the destruction of those firearms . ### taking into consideration commission implementing regulation 2015 / 2403 of 15 december 2015 establishing common guidelines on deactivation standards and techniques for ensuring that deactivated firearms are rendered irreversibly inoperable .


### selling arrangements of firearms and their components by means of distance communication may pose a serious threat to security as they are more difficult to control than the conventional selling methods , especially as regards the on line verification of the legality of authorisations . it is therefore appropriate to limit the selling of arms and components by means of distance communication , notably internet , to dealers and brokers . ### selling arrangements of firearms , their components and ammunition by means of distance communication may pose a serious threat to security as they are more difficult to control than the conventional selling methods , especially as regards the on line verification of the legality of authorisations . it is therefore appropriate to limit the selling of arms and components by means of distance communication , notably internet , to dealers and brokers .


### taking into consideration the high risk of reactivating badly deactivated weapons and in order to enhance security across the union , deactivated firearms should be covered by this directive . additionally , for the most dangerous firearms stricter rules should be introduced in order to ensure that those firearms are not allowed to be owned or traded . those rules should also apply to firearms of that category even after they have been deactivated . where those rules are not respected , member states should take appropriate measures including the destruction of those firearms . ### taking into consideration the high risk of reactivating badly deactivated weapons and in order to enhance security across the union , deactivated firearms should be covered by this directive . where those rules are not respected , member states should take appropriate measures including the destruction of those firearms .


### in order to ensure appropriate exchange of information between the member states on authorisations granted and on refusals , 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 adopting an act to enable the member states to create such a system of exchange of information on authorisations granted and on refusals . it is of particular importance that the commission carry out appropriate consultations during its preparatory work , including at expert level . the commission , when preparing and drawing up delegated acts , should ensure a simultaneous , timely and appropriate transmission of relevant documents to the european parliament and to the council . ### in order to ensure appropriate exchange between the member states of all information on the weapons referred to in this directive , 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 adopting an act to enable the member states to create such a systematic and compulsory system of exchange of information between the member states . it is of particular importance that the commission carry out appropriate consultations during its preparatory work , including at expert level . the commission , when preparing and drawing up delegated acts , should ensure a simultaneous , timely and appropriate transmission of relevant documents to the european parliament and to the council .


### the acquisition of firearms and their parts and ammunition concerning categories a , b and c by means of distance communication , as defined in article 2 of directive 97 / 7 / ec of the european parliament and of the council , shall be authorised only with respect to dealers and brokers and shall be subject to the strict control of the member states . ### the acquisition of firearms and their parts and ammunition concerning categories a , b and c by means of distance communication , as defined in article 2 of directive 97 / 7 / ec of the european parliament and of the council , shall be authorised only with respect to dealers and brokers and shall be subject to the strict control of the member states . it shall be strictly prohibited to sell arms , essential components of arms , or ammunition to individuals by mail or online .


### this directive shall not apply to the acquisition or possession of weapons and ammunition , in accordance with national law , by the armed forces , the police , the public authorities . nor shall it apply to commercial transfers of weapons and ammunition of war . ### this directive shall not apply to the acquisition or possession of weapons and ammunition , in accordance with national law , by the armed forces , the police , the public authorities or by collectors and bodies concerned with the cultural and historical aspects of weapons and recognized as such by the member state in whose territory they are established . nor shall it apply to commercial transfers of products of the defence industry .


### for the purposes of this directive , ' essential component ' shall mean the barrel , frame , receiver , slide or cylinder , bolt or breach block and any device designed or adapted to diminish the sound caused by firing a firearm which , being separate objects , are included in the category of the firearms on which they are or are intended to be mounted . ' ### for the purposes of this directive , ' essential component ' shall mean any part essential to its operation , including the barrel , frame , receiver , slide or cylinder , bolt or breach block which , being separate objects , are included in the category of the firearms on which they are or are intended to be mounted .


### member states shall make arrangements for the deactivation of firearms to be verified by a competent authority in order to ensure that the modifications made to a firearm render it irreversibly inoperable . member states shall , in the context of this verification , provide for the issuance of a certificate or record attesting to the deactivation of the firearm or the apposition of a clearly visible mark to that effect on the firearm . ### member states shall make arrangements for the deactivation of firearms to be verified by a competent authority in order to ensure that the modifications made to a firearm render it irreversibly inoperable . member states shall , in the context of this verification , provide for the issuance of a certificate and record attesting to the deactivation of the firearm or the apposition of a clearly visible mark to that effect on the firearm .


### bodies concerned with the cultural and historical aspects of weapons and recognised as such by the member state in whose territory they are established and holding in their possession firearms classified in category a acquired before the date of entry into force of this directive should be able to keep those firearms in their possession subject to authorisation by the member state concerned and provided that those firearms have been deactivated . ### collectors and bodies concerned with the cultural and historical aspects of weapons and recognised as such by the member state in whose territory they are established and holding in their possession firearms classified in category a acquired before the date of entry into force of this directive should be able to keep those firearms in their possession subject to authorisation by the member state concerned and provided that those firearms have been deactivated .


### furthermore , the risk of alarm weapons and other types of blank firing weapons being converted to real firearms is high , and in some of the terrorist acts converted arms were used . it is therefore essential to address the problem of converted firearms being used in criminal offences , notably by including them in the scope of the directive . technical specifications for alarm and signal weapons as well as for salute and acoustic weapons should be adopted in order to ensure that they cannot be converted into firearms . ### technical specifications for alarm and signal weapons as well as for salute and acoustic weapons should be adopted in order to ensure that they cannot be converted into firearms .


### for the purposes of this directive , ' deactivated firearms ' shall mean firearms that have been modified with the purpose of rendering them permanently unfit for use by deactivation , ensuring that all essential parts of the firearm have been rendered permanently inoperable and incapable of removal , replacement or a modification that would permit the firearm to be reactivated in any way . ' ### for the purposes of this directive , ' deactivated firearms ' shall mean firearms that have been modified with the purpose of rendering them permanently unfit for use by deactivation , ensuring that all essential parts of the firearm have been rendered permanently inoperable and incapable of removal , replacement or a modification that would permit the firearm to be reactivated in any way , in accordance with commission implementing regulation 2015 / 2403 of 15 december 2015 establishing common guidelines on deactivation standards and techniques for ensuring that deactivated firearms are rendered irreversibly inoperable .


### the competent authorities of the member states shall exchange information on the authorisations granted for the transfers of firearms to another member state as well as information with regard to refusals to grant authorisations as defined in article 7 . ### the competent authorities of the member states shall exchange all the information in their possession on the authorisations granted for the transfers of firearms to another member state and refusals to grant authorisations , information with regard to authorisations and refusals to grant authorisations as defined in article 7 , as well as the declarations within the meaning of article 8 .


### bodies concerned with the cultural and historical aspects of weapons and recognised as such by the member state in whose territory they are established and holding in their possession firearms classified in category a acquired before the date of entry into force of this directive should be able to keep those firearms in their possession subject to authorisation by the member state concerned and provided that those firearms have been deactivated . ### collectors and bodies concerned with the cultural and historical aspects of weapons and recognised as such by the member state in whose territory they are established should be able to keep and acquire firearms classified in category a subject to authorisation by the member state concerned .


### ' this filing system shall record each firearm ' s type , make , model , calibre and serial number , as well as the names and addresses of the supplier and the person acquiring or possessing the firearm . the record of firearms , including deactivated firearms , shall be maintained until destruction of the firearm has been certified by the competent authorities . ### this filing system shall record in particular each firearm ' s type , make , model , calibre and serial number , as well as the names and addresses of the supplier and the person acquiring or possessing the firearm . the record of firearms , including deactivated firearms , shall be maintained until destruction of the firearm has been certified by the competent authorities . member states shall , by [ date ] at the latest , provide the competent authorities of all other member states with direct access to the information held in their national registers . to this end , they shall designate the authority charged with allowing this access and shall communicate its name to the commission .


### member states shall take measures to ensure that alarm and signal weapons as well as salute and acoustic weapons cannot be converted into firearms . ### member states shall take all necessary measures to ensure that alarm and signal weapons as well as salute and acoustic weapons cannot be converted into firearms . the member states shall also ensure that these arms have been marked in line with article 4 of this directive and that they are recorded on the computerised data - filing systems maintained by the member states .


### the provisions of directive 2013 / 32 / eu related to the application of the safe country of origin concept should be applicable in relation to third countries that are on the eu common list established by this regulation . this means , in particular , that the circumstance that a third country is on the eu common list of safe countries of origin cannot establish an absolute guarantee of safety for nationals of that country and does not dispense therefore with the need to conduct an appropriate individual examination of the application for international protection . in addition , it should be recalled that , where an applicant shows that there are serious reasons to consider the country not to be safe in his or her particular circumstances , the designation of the country as safe can no longer be considered relevant for him or her . ### the provisions of directive 2013 / 32 / eu related to the application of the safe country of origin concept should be applicable in relation to third countries that are on the eu common list established by this regulation . this means , in particular , that the circumstance that a third country is on the eu common list of safe countries of origin cannot establish an absolute guarantee of safety for nationals of that country and does not dispense therefore with the need to conduct an appropriate individual examination of the application for international protection , including a personal interview as required by article 14 of directive 2013 / 32 / eu . in addition , it should be recalled that , where an applicant shows that there are serious reasons to consider the country not to be safe in his or her particular circumstances , the designation of the country as safe can no longer be considered relevant for him or her . the same rule should automatically apply to third - country nationals who belong to a national , ethnic , religious or linguistic minority in that country . in line with article 46 of directive 2013 / 32 / eu , member states must guarantee all applicants the right to an effective remedy before a court or tribunal if their request for international protection is refused . they must also be given permission to remain in the territory until the time limit to exercise their right to an effective remedy has expired , and , if they have exercised that right within the time limit , while they await the outcome of the remedy .


### an eu common list of safe countries of origin should be established on the basis of the common criteria set in directive 2013 / 32 / eu as it will facilitate the use by all member states of the procedures linked to the application of the safe country of origin concept and , thereby , increase the overall efficiency of their asylum systems as concerns applications for international protection which are likely to be unfounded . the establishment of an eu common list will also address some of the existing divergences between member states’ national lists of safe countries of origin , whereby applicants for international protection originating from the same third countries are not always subject to the same procedures in the member states . while member states should retain the right to apply or introduce legislation that allows for the national designation of third countries other than those appearing on the eu common list as safe countries of origin , the establishment of such a common list will ensure that the concept is applied by all member states in a uniform manner in relation to applicants whose countries of origin are on this list . this will accordingly facilitate convergence in the application of procedures and thereby also deter secondary movements of applicants for international protection . in that context , the possibility to take in the future further steps of harmonisation that could lead to the elimination of the need for national lists of safe countries of origin should be considered after a period of three years following the entry into force of this regulation , on the basis of a report to be presented by the commission . ### an eu common list of safe countries of origin should be established on the basis of the common criteria set in directive 2013 / 32 / eu as it would facilitate the use by all member states of the procedures linked to the application of the safe country of origin concept and , thereby , increase the overall efficiency of their asylum systems as concerns applications for international protection which are likely to be unfounded . the establishment of an eu common list is intended to also address some of the existing divergences between member states’ national lists of safe countries of origin , whereby applicants for international protection originating from the same third countries are not always subject to the same procedures in the member states . while member states should temporarily retain the right to apply or introduce legislation that allows for the national designation of third countries other than those appearing on the eu common list as safe countries of origin , the establishment of such a common list would ensure that the concept is applied by all member states in a uniform manner in relation to applicants whose countries of origin are on this list . this would accordingly facilitate convergence in the application of procedures and thereby also deter secondary movements of applicants for international protection . in that context , as regards further steps towards harmonisation , national lists of safe countries of origin should cease to exist after a period of three years following the entry into force of this regulation . the commission should report to the european parliament and to the council on the application of this regulation in the member states .


### an eu common list of safe countries of origin should be established on the basis of the common criteria set in directive 2013 / 32 / eu as it will facilitate the use by all member states of the procedures linked to the application of the safe country of origin concept and , thereby , increase the overall efficiency of their asylum systems as concerns applications for international protection which are likely to be unfounded . the establishment of an eu common list will also address some of the existing divergences between member states’ national lists of safe countries of origin , whereby applicants for international protection originating from the same third countries are not always subject to the same procedures in the member states . while member states should retain the right to apply or introduce legislation that allows for the national designation of third countries other than those appearing on the eu common list as safe countries of origin , the establishment of such a common list will ensure that the concept is applied by all member states in a uniform manner in relation to applicants whose countries of origin are on this list . this will accordingly facilitate convergence in the application of procedures and thereby also deter secondary movements of applicants for international protection . in that context , the possibility to take in the future further steps of harmonisation that could lead to the elimination of the need for national lists of safe countries of origin should be considered after a period of three years following the entry into force of this regulation , on the basis of a report to be presented by the commission . ### an eu common list of safe countries of origin should be established on the basis of the common criteria set in directive 2013 / 32 / eu as it will facilitate the use by all member states of the procedures linked to the application of the safe country of origin concept and , thereby , increase the overall efficiency of their asylum systems as concerns applications for international protection which are likely to be unfounded . the establishment of an eu common list will also address some of the existing divergences between member states’ national lists of safe countries of origin , whereby applicants for international protection originating from the same third countries are not always subject to the same procedures in the member states . while member states should temporarily retain the right to apply or introduce legislation that allows for the national designation of third countries other than those appearing on the eu common list as safe countries of origin , the establishment of such a common list will ensure that the concept is applied by all member states in a uniform manner in relation to applicants whose countries of origin are on this list . this will accordingly facilitate convergence in the application of procedures and thereby also deter secondary movements of applicants for international protection . in that context , three years after this regulation enters into force , the member states should eliminate their national lists of safe countries of origin .


### in case of sudden changes in the situation of a third country that is on the eu common list of safe countries of origin , the commission shall conduct a substantiated assessment of the fulfilment by that country of the conditions set in annex i of directive 2013 / 32 / eu and , if those conditions are no longer met , shall adopt , in accordance with article 290 tfue , a decision suspending the presence of that third country from the eu common list for a period of one year . ### if sudden changes in the situation of a third country that is on the eu common list of safe countries of origin could lead to that country’s non - compliance with the conditions for the designation of a country as a safe country of origin set out under article 36 of directive 2013 / 32 / eu set out under article 36 of directive 2013 / 32 / eu , the commission shall conduct a reasoned assessment of that country’s compliance with those conditions and , if they are no longer met , shall adopt , in accordance with article 290 tfue , a decision suspending the presence of that third country from the eu common list for a period of one year .


### considering an application to be manifestly unfounded in accordance with article 32 or unfounded after examination in accordance with article 31 , except for cases where these decisions are based on the circumstances referred to in article 31 ; ### article 46 is replaced by the following : considering an application to be manifestly unfounded in accordance with article 32 or unfounded after examination in accordance with article 31 , except for cases where these decisions are based on the circumstances referred to in article 31 and ; and


### the extended efsi should address remaining market failures and sub - optimal investment situations and continue to mobilise private sector financing in investments crucial for europe’s future job creation – including for the youth – , growth and competitiveness with strengthened additionality . they include investments in the areas of energy , environment and climate action , social and human capital and related infrastructure , healthcare , research and innovation , cross - border and sustainable transport , as well as the digital transformation . in particular , the contribution of operations supported by the efsi to achieving the union ' s ambitious targets set at the paris climate conference should be reinforced . energy interconnection priority projects and energy efficiency projects should also be increasingly targeted . in addition , efsi support to motorways should be avoided , unless it is needed to support private investment in transport in cohesion countries or in cross - border transport projects involving at least one cohesion country . for reasons of clarity , although they are already eligible , it should be explicitly laid down that projects in the fields of agriculture , fishery and aquaculture come within the general objectives eligible for efsi support . ### the extended efsi should address remaining market failures and sub - optimal investment situations and continue to mobilise new private sector financing in investments crucial for europe’s future job creation – including for the youth – , growth and competitiveness with strengthened additionality vis - à - vis other existing union instruments and the eib’s main operations . they include investments in the areas of energy , bio - economy , environment and climate action , social and human capital and related infrastructure , healthcare , research and innovation , cross - border and sustainable transport and cross - border networks , as well as the digital transformation in all sectors . in particular , the contribution of operations supported by the efsi to achieving the union ' s ambitious targets set at the paris climate conference should be reinforced . energy interconnection priority projects and energy efficiency projects should also be increasingly targeted . in addition , efsi support to motorways and carbon - intensive transport projects should be avoided , unless it is crucially needed to support private investment in transport projects . for reasons of clarity , although they are already eligible , it should be explicitly laid down that projects in the fields of agriculture , fishery and aquaculture come within the general objectives eligible for efsi support .


### in order to reinforce the take - up of the efsi in less - developed and transition regions , the scope of the general objectives eligible for efsi support should be enlarged . ### in order to reinforce the take - up of the efsi in all regions , including in less - developed , remote outermost and transition regions , and to tackle the geographical and sectorial imbalance of efsi support , the scope of the general objectives and the conditions making them eligible for efsi support should be enlarged with an increased use of the european advisory hub in order to provide technical assistance for project generation at regional and local levels across the union , as well as to ensure better communication and visibility .


### on the basis of the experience acquired with the investments supported by the efsi , the target amount of the guarantee fund should be brought to 35 % of the total eu guarantee obligations ensuring an adequate level of protection . ### on the basis of the experience acquired with the investments supported by the efsi and the absence of calls on the eu guarantee , the target amount of the guarantee fund should be brought to 35 % of the total eu guarantee obligations ensuring an adequate level of protection .


### in order to achieve the objective referred to in paragraph 1 and to facilitate the provision of advisory support at local level , the eiah shall seek to use the expertise of the eib , the commission , national promotional banks or institutions , and the managing authorities of the european structural and investment funds . ### in order to achieve the objective referred to in paragraph 1 and to facilitate the provision of advisory support at local , regional and national levels , the eiah shall seek to use the expertise of the eib , the commission , national promotional banks or institutions , and the managing authorities of the european structural and investment funds .


### leveraging local knowledge to facilitate efsi support across the union and contributing where possible to the objective of sectorial and geographical diversification of the efsi referred to in section 8 of annex ii by supporting the eib to originate operations ; ### leveraging local , regional and national knowledge , collaborating more closely with member states’ authorities and focusing on building capacity in order to facilitate the use of efsi support across the union and contributing where possible to the objective of sectorial and geographical diversification of the efsi referred to in section 8 of annex ii by supporting the eib to originate operations ;


### the european investment advisory hub should be enhanced and its activities should focus on needs not covered adequately under current arrangements . it should pay particular attention to supporting the preparation of projects involving two or more member states and projects that contribute to achieving the objectives of cop21 . notwithstanding its objective to build upon existing advisory services of the eib and the commission , so to act as a single technical advisory hub for project financing within the union , the eiah should also contribute actively to the objective of sectorial and geographical diversification of the efsi and support the eib where needed in originating projects . it should also actively contribute to the establishment of investment platforms and provide advice on the combination of other sources of union funding with the efsi . ### the european investment advisory hub should be enhanced and its activities should address any shortcomings in the implementation of the efsi . it should play an instrumental role in empowering project promoters to initiate and develop viable , sustainable and quality projects . it should pay particular attention to supporting the preparation of projects involving two or more member states or regions . the eiah should also contribute actively to the objective of sectorial and geographical diversification of the efsi and proactively support the eib in originating projects and launching operations , as well as in initiating demand , where needed . it should also actively contribute to the establishment of investment platforms and provide advice on the combination of other sources of union funding with the efsi . it is considered necessary for the eiah to establish a strong local presence , where needed , to leverage local knowledge about the efsi and better consider local needs . the eiah should aim to conclude agreements with national promotional banks or institutions in each member state . to achieve those objectives , the staff capacity of the eiah should be commensurate to the tasks that it is called upon to undertake .


### the european investment advisory hub should be enhanced and its activities should focus on needs not covered adequately under current arrangements . it should pay particular attention to supporting the preparation of projects involving two or more member states and projects that contribute to achieving the objectives of cop21 . notwithstanding its objective to build upon existing advisory services of the eib and the commission , so to act as a single technical advisory hub for project financing within the union , the eiah should also contribute actively to the objective of sectorial and geographical diversification of the efsi and support the eib where needed in originating projects . it should also actively contribute to the establishment of investment platforms and provide advice on the combination of other sources of union funding with the efsi . ### the european investment advisory hub should be enhanced and its activities should focus on needs not covered adequately under current arrangements . it should pay particular attention to supporting the preparation of projects involving two or more member states or areas and projects that contribute to achieving the objectives of cop21 and of europe 2020 strategy . notwithstanding its objective to build upon existing advisory services of the eib and the commission , so to act as a single technical advisory hub for project financing within the union , the eiah should also contribute actively to the objective of sectorial and geographical diversification of the efsi and support the eib where needed in originating projects . it should also actively contribute to the establishment of investment platforms and provide advice on the combination of other sources of union funding with the efsi .


### education and training ; ### point is replaced by the following : labour market , education and training , vocational training for skills and lifelong learning ;


### the eib shall target that at least 40 % of efsi financing under the infrastructure and innovation window supports projects with components that contribute to climate action , in line with the cop21 commitments . the steering board shall provide detailed guidance to that end . ### the eib shall target that at least 40 % of efsi financing under the infrastructure and innovation window supports projects with components that contribute to climate action and job creation , in line with the cop21 and the europe 2020 strategy commitments . the steering board shall provide detailed guidance to that end .


### the delegation of power referred to in articles 6 , 8 and 9 shall be conferred on the commission for an indeterminate period of time from the date of the entry into force of this regulation . ### the delegation of power referred to in articles 6 , 8 , 9 and 9a shall be conferred on the commission for a period of five years from the date of the entry into force of this regulation .


### the plan shall aim at contributing to the objectives of the common fisheries policy listed in article 2 of regulation no 1380 / 2013 and in particular : ### the plan shall&#160 ; ensure that&#160 ; the objectives of the common fisheries policy listed in article 2 of regulation no 1380 / 2013 and in particular :


### the measures referred to in paragraph 1 shall aim at achieving the objective set out in article 3 and be based on scientific advice . ### the measures referred to in paragraph 1 shall aim at achieving the objective set out in article 3 and be based on the best available scientific advice .


### the delegation of power referred to in articles 6 , 8 and 9 shall be conferred on the commission for an indeterminate period of time from the date of the entry into force of this regulation . ### the delegation of power referred to in articles 6 , 8 and 9 shall be conferred on the commission for a period of five years from 1 september 2015 . the commission shall draw up a report in respect of the delegation of power not later than nine months before the end of the five - 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 .


### by way of derogation from article 17 of regulation no 1224 / 2009 , the prior notification obligation laid down in that article shall apply to masters of union fishing vessels of eight metres overall length or more retaining on board at least 300 kg of cod or two tons of pelagic stocks . ### by way of derogation from article 17 of regulation no 1224 / 2009 , the prior notification obligation laid down in that article shall apply to masters of union fishing vessels of ten metres overall length or more retaining on board at least 300 kg of cod .


### member states shall transmit to the commission , at its request , any relevant information with regard to the implementation of this regulation in the member states . ### member states shall transmit to the commission , at its request , any relevant information with regard to the implementation of this regulation in the member states . such a request should not pose a disproportionate administrative burden or costs to the member state concerned .


### delegated acts are adopted at least 15 months before the end of the reference period of the data except for the topics of ' innovation ' and ' ict usage and e - commerce ' for which the delegated acts shall be adopted at least six and twelve months respectively before the end of the reference period of the data . ### delegated acts are adopted at least 18 months before the end of the reference period of the data except for the topics of ' innovation ' and ' ict usage and e - commerce ' for which the delegated acts shall be adopted at least six and twelve months respectively before the end of the reference period of the data .


### each member state shall ensure that its reitox national focal points and the europol national unit provide timely and without any undue delay to the centre and europol the available information on new psychoactive substances . the information shall be related to the detection and identification , use and patterns of use , potential and identified risks , manufacture , extraction , distribution , trafficking , commercial , as well as medical and scientific use of these substances . ### each member state shall ensure that its reitox national focal points and the europol national unit provide timely and without any undue delay to the centre and europol the available information on new psychoactive substances . the information shall be related to the detection and identification , use and patterns of use , potential and identified risks , manufacture , extraction , distribution , trafficking and smuggling , commercial , as well as medical and scientific use of these substances .


### the centre , in cooperation with europol , shall collect , analyse , assess , and communicate this information in a timely manner to member states with a view to providing member states with any information required for the purposes of early warning and for the purposes of allowing the centre to draw up the initial report or the combined initial report pursuant to article 5b . ### the centre , in cooperation with europol , shall collect , analyse , assess , and communicate this information in a timely manner to member states and to the commission with a view to providing member states and the commission with any information required for the purposes of early warning and for the purposes of allowing the centre to draw up the initial report or the combined initial report pursuant to article 5b .


### in order to ensure that interventions under the eu compartment of the investeu fund focus on market failures and sub - optimal investment situations at union level , but , at the same time , satisfy the objectives of best possible geographic outreach , the eu guarantee should be allocated to implementing partners , which alone or together with other implementing partners , can cover at least three member states . however , it is expected that around 75 % of the eu guarantee under the eu compartment would be allocated to implementing partner or partners that can offer financial products under the investeu fund in all member states . ### in order to ensure that interventions under the eu compartment of the investeu fund focus on market failures and sub - optimal investment situations at union level , but , at the same time , satisfy the objectives of best possible geographic outreach , the eu guarantee should be allocated to implementing partners , which alone or together with other implementing partners , can cover at least two member states . however , it is expected that around 75 % of the eu guarantee under the eu compartment would be allocated to implementing partner or partners that can offer financial products under the investeu fund in all member states .


### sustainable infrastructure policy window : comprises sustainable investment in the areas of transport , energy , digital connectivity , supply and processing of raw materials , space , oceans and water , waste , nature and other environment infrastructure , equipment , mobile assets and deployment of innovative technologies that contribute to the environmental or social sustainability objectives of the union , or to both , or meet the environmental or social sustainability standards of the union ; ### sustainable infrastructure policy window : comprises sustainable investment in the areas of transport , including multimodal transport , road safety , tourism , energy , in particular the increased deployment of renewable energy , energy efficiency in line with the 2030 and 2050 energy frameworks , improving interconnection levels , digital connectivity and access including in rural areas , supply and processing of raw materials , space , oceans , inland water , waste avoidance and the circular economy , nature and other environment infrastructure , equipment , mobile assets and deployment of innovative technologies that contribute to the environmental or social sustainability objectives of the union , or to both , and meet the environmental or social sustainability standards of the union ;


### for the eu compartment , the eligible counterparts shall have expressed their interest and shall be able to cover financing and investment operations in at least three member states . the implementing partners may also cover together financing and investment operations in at least three member states by forming a group . ### for the eu compartment , the eligible counterparts shall have expressed their interest and shall be able to cover financing and investment operations in at least three member states . the implementing partners may also cover together financing and investment operations in at least two member states by forming a group . this criteria is also fulfilled when the implementing partners identify a common market failure in their respective markets and address this market failure or suboptimal investment situation with locally adapted , but similar instruments .


### for the eu compartment , the eligible counterparts shall have expressed their interest and shall be able to cover financing and investment operations in at least three member states . the implementing partners may also cover together financing and investment operations in at least three member states by forming a group . ### for the eu compartment , the eligible counterparts shall have expressed their interest and shall be able to cover financing and investment operations in at least two member states . the implementing partners may also cover together financing and investment operations in at least two member states by forming a group . this condition can be fulfilled by covering financing and investment operations in one region of a member state .


### with 1 . 8% of eu gdp , down from 2 . 2% in 2009 , infrastructure investment activities in the union in 2016 were about 20% below investment rates before the global financial crisis . thus , while a recovery in investment - to - gdp ratios in the union can be observed , it remains below what might be expected in a strong recovery period and is insufficient to compensate years of underinvestment . more importantly , the current investment levels and forecasts do not cover the union ' s structural investment needs in the face of technological change and global competitiveness , including for innovation , skills , infrastructure , small and medium - sized enterprises and the need to address key societal challenges such as sustainability or population ageing . consequently , continued support is necessary to address market failures and sub - optimal investment situations to reduce the investment gap in targeted sectors to achieve the union ' s policy objectives . ### 8% of eu gdp , down from 2 . 2% in 2009 , infrastructure investment activities in the union in 2016 were about 20% below investment rates before the global financial crisis . thus , while a recovery in investment - to - gdp ratios in the union can be observed , it remains below what might be expected in a strong recovery period and is insufficient to compensate years of underinvestment and growth remains unevenly distributed among member states . more importantly , the current investment levels and forecasts do not cover the union ' s structural investment needs for sustaining a long - term growth rate in the face of technological change and global competitiveness , including for innovation , research , skills , infrastructure , small and medium - sized enterprises , start - ups , and the need to address key societal challenges such as sustainability or population ageing . consequently , continued support is necessary to address market failures and suboptimal investment situations to reduce the investment gap in targeted sectors to achieve the union ' s policy objectives . in this regard it is important that the investeu programme continues to support otherwise difficult to fund projects that provide european citizens with long - term economic , environmental and societal benefits .


### financing and investment operations under the sustainable infrastructure policy window referred to in point of paragraph shall be subject to climate , environmental and social sustainability proofing with a view to minimise detrimental impacts and maximise benefits on climate , environment and social dimension . for that purpose , promoters requesting financing shall provide adequate information based on guidance to be developed by the commission . projects below a certain size defined in the guidance shall be excluded from the proofing . ### financing and investment operations under the policy windows referred to in paragraph shall be subject to climate , environmental and social sustainability proofing with a view to minimise detrimental impacts and maximise benefits on climate , environment and social dimension . for that purpose , promoters requesting financing shall provide adequate information based on guidance to be developed by the commission . projects below a certain size defined in the guidance shall be excluded from the proofing .


### reflecting the importance of tackling climate change in line with the union ' s commitments to implement the paris agreement and the united nations sustainable development goals , the investeu programme will contribute to mainstream climate actions and to the achievement of an overall target of 25 % of the union budget expenditures supporting climate objectives . actions under the investeu programme are expected to contribute 30 % of the overall financial envelope of the investeu programme to climate objectives . relevant actions will be identified during the investeu programme ' s preparation and implementation and reassessed in the context of the relevant evaluations and review processes . ### reflecting the importance of tackling climate change in line with the union ' s commitments to implement the paris agreement and the united nations sustainable development goals , the investeu programme will contribute to mainstream climate actions and to the achievement of an overall target of 30 % of the union budget expenditures supporting climate objectives . actions under the investeu programme are expected to contribute 30 % of the overall financial envelope of the investeu programme to climate objectives . relevant actions will be identified during the investeu programme ' s preparation and implementation and reassessed in the context of the relevant evaluations and review processes .


### social investment and skills policy window : comprises microfinance , social enterprise finance and social economy ; skills , education , training and related services ; social infrastructure ; social innovation ; health and long - term care ; inclusion and accessibility ; cultural activities with a social goal ; integration of vulnerable people , including third country nationals . ### social investment and skills policy window : comprises microfinance , social enterprise finance , female entrepreneurship and social economy ; skills , education , training and related services , including student loans ; social infrastructure ; social innovation ; health and long - term care ; inclusion and accessibility ; cultural activities in particular with a social goal ; integration of vulnerable people , including third country nationals .


### the investeu fund should contribute to improving the competitiveness of the union , including in the field of innovation and digitisation , the sustainability of the union ' s economic growth , the social resilience and inclusiveness and the integration of the union capital markets , including solutions addressing their fragmentation and diversifying sources of financing for the union enterprises . to that end , it should support projects that are technically and economically viable by providing a framework for the use of debt , risk sharing and equity instruments underpinned by a guarantee from the union ' s budget and by contributions from implementing partners . it should be demand - driven while support under the investeu fund should at the same time focus on contributing to meeting policy objectives of the union . ### the investeu fund should contribute to improving the competitiveness of the union , including in the field of sustainable infrastructure , innovation and digitisation , the sustainability of the union ' s economic growth , the social resilience and inclusiveness and the integration of the union capital markets , including solutions addressing their fragmentation and diversifying sources of financing for the union enterprises . to that end , it should support projects that are technically and economically viable by providing a framework for the use of debt , risk sharing and equity instruments underpinned by a guarantee from the union ' s budget and by contributions from implementing partners . it should be demand - driven while support under the investeu fund should at the same time focus on contributing to meeting policy objectives of the union .


### the commission shall implement information and communication actions relating to the investeu programme and its actions and results . financial resources allocated to the investeu programme shall also contribute to the corporate communication of the political priorities of the union , as far as they are related to the objectives referred to in article 3 . ### the commission shall launch an effective , informative and eu - wide communication strategy to accompany the investeu programme in order increase the visibility of this programme , especially for smes , and therefore to attract the best potential projects . financial resources allocated to the investeu programme shall also contribute to the corporate communication of the political priorities of the union , as far as they are related to the objectives referred to in article 3 .


### projects supporting development of the ten - t infrastructure , including its urban nodes , maritime and inland ports , multimodal terminals and their connection to the main networks ; ### projects supporting the sustainable development of the ten - t infrastructure , including its urban nodes , maritime and inland ports , airports , multimodal terminals and their connection to the main networks ;


### small and medium - sized enterprises play a crucial role in the union . however , they face challenges when accessing finance because of their perceived high risk and lack of sufficient collateral . additional challenges arise from smes ' need to stay competitive by engaging in digitisation , internationalisation and innovation activities and skilling up their workforce . moreover , compared to larger enterprises , they have access to a more limited set of financing sources : they typically do not issue bonds , have only limited access to stock exchanges or large institutional investors . the challenge in accessing finance is even greater for those smes whose activities focus on intangible assets . smes in the union rely heavily on banks and debt financing in the form of bank overdrafts , bank loans or leasing . supporting smes that face the above challenges and providing more diversified sources of funding is necessary for increasing the ability of smes to finance their creation , growth and development , withstand economic downturns , and for making the economy and the financial system more resilient during economic downturn or shocks . this is also complementary to the initiatives already undertaken in the context of the capital markets union . the investeu fund should provide an opportunity to focus on specific , more targeted financial products . ### small and medium - sized enterprises represent over 99% of businesses in the union and their economic value is significant and crucial . however , they face challenges when accessing finance because of their perceived high risk and lack of sufficient collateral . gender disparities also need to be addressed , as female creativity and entrepreneurial potential are an under - exploited source of growth and jobs that should be further developed . additional challenges arise from smes ' need to stay competitive by engaging in digitisation , internationalisation and innovation activities and skilling up their workforce . moreover , compared to larger enterprises , they have access to a more limited set of financing sources : they typically do not issue bonds , have only limited access to stock exchanges or large institutional investors . the lack of access to capital for smes is exacerbated by the comparatively small european private equity industry , and the challenge in accessing finance is even greater for those smes whose activities focus on intangible assets . smes in the union rely heavily on banks and debt financing in the form of bank overdrafts , bank loans or leasing . supporting smes that face the above challenges by simplifying their access to finance and providing more diversified sources of funding is necessary for increasing the ability of smes to finance their creation , growth , innovation and sustainable development , ensure their competitiveness , withstand economic downturns , and for making the economy and the financial system more resilient during economic downturn or shocks . this is also complementary to the initiatives already undertaken in the context of the capital markets union . programmes such as cosme have been important for smes in the they have facilitated access to finance in all phases of their lifecycle , and this was added to by efsi for which there was a quick sme uptake . the investeu fund should therefore build on these successes and provide an opportunity to focus on specific , more targeted financial products .


### in selecting implementing partners for the deployment of the investeu fund , the commission should consider the counterpart ' s capacity to fulfil the objectives of the investeu fund and contribute its own resources , in order to ensure adequate geographical coverage and diversification , to crowd - in private investors and to provide sufficient risk diversification as well as new solutions to address market failures and sub - optimal investment situations . given its role under the treaties , its capacity to operate in all member states and the existing experience under the current financial instruments and the efsi , the european investment bank group should remain a privileged implementing partner under the investeu fund ' s eu compartment . in addition to the eib group , national promotional banks or institutions should be able to offer a complementary financial product range given that their experience and capabilities at regional level could be beneficial for the maximisation of the impact of public funds on the territory of the union . moreover , it should be possible to have other international financial institutions as implementing partners , in particular when they present a comparative advantage in terms of specific expertise and experience in certain member states . it should also be possible for other entities fulfilling the criteria laid down in the financial regulation to act as implementing partners . ### in selecting implementing partners for the deployment of the investeu fund , the commission should consider the counterpart ' s capacity to fulfil the objectives of the investeu fund and contribute its own resources , in order to ensure adequate geographical coverage and diversification , to crowd - in private investors and to provide sufficient risk diversification as well as new solutions to address market failures and sub - optimal investment situations . given its role under the treaties , its capacity to operate in all member states and the existing experience under the current financial instruments and the efsi , the european investment bank group should remain a privileged implementing partner under the investeu fund ' s eu compartment . in addition to the eib group , national or regional promotional banks or institutions should be able to offer a complementary financial product range given that their experience and capabilities at regional level could be beneficial for the maximisation of the impact of public funds on the territory of the union . moreover , it should be possible to have other international financial institutions as implementing partners , in particular when they present a comparative advantage in terms of specific expertise and experience in certain member states . it should also be possible for other entities fulfilling the criteria laid down in the financial regulation to act as implementing partners .


### the investeu fund should contribute to improving the competitiveness of the union , including in the field of innovation and digitisation , the sustainability of the union ' s economic growth , the social resilience and inclusiveness and the integration of the union capital markets , including solutions addressing their fragmentation and diversifying sources of financing for the union enterprises . to that end , it should support projects that are technically and economically viable by providing a framework for the use of debt , risk sharing and equity instruments underpinned by a guarantee from the union ' s budget and by contributions from implementing partners . it should be demand - driven while support under the investeu fund should at the same time focus on contributing to meeting policy objectives of the union . ### the investeu fund should contribute to improving the competitiveness of the union , including in the field of innovation , move to circular economy and digitisation , scientific excellence , the sustainability of the union ' s economic growth , the social resilience and inclusiveness and the integration of the union capital markets , including solutions addressing their fragmentation and diversifying sources of financing for the union enterprises . to that end , it should support projects that are technically and economically viable by providing a framework for the use of debt , risk sharing and equity instruments underpinned by a guarantee from the union ' s budget and by contributions from implementing partners . it should be well publicised and demand - driven while support under the investeu fund should at the same time focus on contributing to meeting policy objectives of the union .


### to increase the access to and the availability of finance for smes and , in duly justified cases , for small mid - cap companies ; ### to increase and simplify the access to and the availability of finance for , and to enhance the global competitiveness of , innovative start - ups , smes including micro - enterprises and , in duly justified cases , for small mid - cap companies ;


### 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 are ensured . ### 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 .


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


### the union ' s ambitious external investment plan 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 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 . ### the union ' s ambitious external investment plan is needed to support investments starting in africa and the union ' s neighbourhood and to promote the sustainable development goals of the united nations 2030 agenda for sustainable development as well as the commitments under the recently revised european neighbourhood policy . 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 .


### 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 crowding in private sector funds . ### the efsd shall contribute to the achievement of the sustainable development goals of the 2030 agenda , while 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 , which are , when lacking , root causes of migration and which can , when improved , contribute to the sustainable reintegration of returned migrants in their countries of origin while maximising additionality , delivering innovative products and crowding in private sector funds .


### 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 , of the 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 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 strategic board shall be composed of representatives of the commission and of the high representative of the union for foreign affairs and security policy , of the member states , of the eib , and of partner countries . 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 , other contributors , 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 .


### 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 participate in any financing or investment operation through a vehicle located in a non - cooperative jurisdiction . ### 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 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 .


### the commission may 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 commission 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 . the choice of investment windows shall be duly justified by an analysis of the market failure or sub - optimal investment situations . such 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 .


### 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 . ### 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 .


### 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 . ### this is in line with the union global strategy for foreign and security policy which seeks to advance an integrated approach to eu foreign policy challenges and ensure coherence and synergies with european development and neighbourhood policies .


### contribute to economic and social development , with particular focus on sustainability and job creation , thus addressing root causes of migration and contributing to sustainable reintegration of returned migrants in their countries of origin ; ### contribute to economic and social development , with particular focus on sustainability and job creation , which are root causes of migration and an improvement of which can contribute to sustainable reintegration of returned migrants in their countries of origin ;


### 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 . ### 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 , 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 commission and the high representative of the union for foreign affairs and security policy to ensure consistency and coherence 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 .


### 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 , the partner countries ' strategies and policies and aim at supporting the following general objectives : ### 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 :


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


### as the funds of the edf are to be used for the countries eligible under the 11th european development fund 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 . __________________ 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 . ### as the funds of the edf are to be used for the countries eligible under the 11th european development fund 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 .


### 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 . 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 . ### 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 .


### 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 ; ### 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 ;


### 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 . ### 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 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 .


### emissions and removals from forests and harvested wood products as shown in greenhouse gas inventories and relevant historical data , ### emissions and removals from forests as shown in greenhouse gas inventories and relevant historical data ,


### emissions and removals from forest land depend on a number of natural circumstances , age - class structure , as well as past and present management practices . the use of a base year would not make it possible to reflect those factors and resulting cyclical impacts on emissions and removals or their interannual variation . the relevant accounting rules should instead provide for the use of reference levels to exclude the effects of natural and country - specific characteristics . in the absence of the international review under the unfccc and the kyoto protocol , a review procedure should be established to ensure transparency and improve the quality of accounting in this category . ### emissions and removals from forest land depend on a number of natural circumstances , age - class structure , as well as past and present management practices that differ substantially between the member states . the use of a base year would not make it possible to reflect those factors and resulting cyclical impacts on emissions and removals or their interannual variation . the relevant accounting rules should instead provide for the use of reference levels to address the effects of natural and country - specific characteristics , as well as for coherence and requirements for sustainable forest management of forest europe . in the absence of the international review under the unfccc and the kyoto protocol , a transparent procedure should be established for the member states to improve auditability and the quality of accounting in this category .


### in accounts pursuant to article 6 and 8 relating to harvested wood products , member states shall reflect emissions and removals resulting from changes in the pool of harvested wood products falling within the following categories using the first order decay function , the methodologies and the default half - life values specified in annex v : ### member states shall reflect emissions and removals resulting from changes in the pool of harvested wood products falling within the following categories using the first order decay function , the methodologies and the default half - life values specified in annex v :


### in order to provide for the appropriate accounting of transactions under this regulation , including the use of flexibilities and tracking compliance , 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 the technical adaptation of definitions , values , lists of greenhouse gases and carbon pools , the update of reference levels , the accounting of transactions and the revision of methodology and information requirements . these measures shall take into account the provisions in commission regulation no 389 / 2013 establishing a union registry . the necessary provisions should be contained in a single legal instrument combining the accounting provisions pursuant to directive 2003 / 87 / ec , regulation no 525 / 2013 , regulation [ ] on binding annual greenhouse gas emission reductions by member states from 2021 to 2030 for a resilient energy union and this regulation . it is of particular importance that the commission carry out appropriate consultations during its preparatory work , including at expert level conducted in accordance with the principles laid down in the inter - institutional agreement on better law - making of 13 april 2016 . in particular , to ensure equal participation in the preparation of delegated acts , the european parliament and council receive all documents at the same time as member states ' experts , and their experts have systematic access to meetings of commission expert groups dealing with the preparation of delegated acts . ### in order to provide for the appropriate accounting of transactions under this regulation , including the use of flexibilities and tracking compliance , 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 the technical adaptation of definitions , values , lists of greenhouse gases and carbon pools , the accounting of transactions , the revision of methodology on the basis of the most recent adopted ipcc methodologies and unfccc guidance and information requirements . these measures shall take into account the provisions in commission regulation no 389 / 2013 establishing a union registry . the necessary provisions should be contained in a single legal instrument combining the accounting provisions pursuant to directive 2003 / 87 / ec , regulation no 525 / 2013 , regulation no . . . / . . . on binding annual greenhouse gas emission reductions by member states from 2021 to 2030 for a resilient energy union and this regulation . it is of particular importance that the commission carry out appropriate consultations during its preparatory work , including at expert level conducted in accordance with the principles laid down in the inter - institutional agreement on better law - making of 13 april 2016 . in particular , to ensure equal participation in the preparation of delegated acts , the european parliament and council receive all documents at the same time as member states ' experts , and their experts have systematic access to meetings of commission expert groups dealing with the preparation of delegated acts .


### the national forestry accounting plan shall contain all the elements listed in annex iv , section b and include a proposed new forest reference level based on the continuation of current forest management practice and intensity , as documented between 1990 - 2009 per forest type and per age class in national forests , expressed in tonnes of co2 equivalent per year . ### the national forestry accounting report shall contain all the elements listed in annex iv , section b and include a proposed new forest reference period based on the continuation of current forest management practice and intensity , as documented between 1990 - 2009 per forest type and per age class in national forests , expressed in tonnes of co2 equivalent per year , as well as maintain the same ratio of biomass used for energetic purposes and solid biomass purposes , except in the case of croatia , whose reference level shall be defined separately using a correction factor in view of the occupation of part of its territory from 1991 to 1998 and the effects of the war and its aftermath .


### each member state shall prepare and maintain accounts that accurately reflect the emissions and removals resulting from the land accounting categories referred to in article 2 . member states shall ensure the accuracy , completeness , consistency , comparability and transparency of their accounts and of other data provided under this regulation . member states shall denote emissions by a positive sign and removals by a negative sign . ### each member state shall prepare and maintain accounts that accurately reflect the emissions and removals resulting from the land accounting categories and other categories referred to in article 2 using the reporting guidance adopted by the cop for the period 2021 - 2030 . member states shall ensure the accuracy , completeness , consistency , comparability and transparency of their accounts and of other data provided under this regulation . member states shall denote emissions by a positive sign and removals by a negative sign .


### the commission shall adopt delegated acts in accordance with article 14 to amend annex ii in the light of the review carried out pursuant to paragraph to update member state forest reference levels based on the national forestry accounting plans or the technical corrections submitted , and any recalculations made in the context of the review . until the entry into force of the delegated act , member state forest reference levels as specified in annex ii shall continue to apply for the period 2021 - 2025 and / or 2026 - 2030 . ### the commission shall adopt delegated acts in accordance with article 14 to amend annex ii in the light of the technical assessment carried out pursuant to paragraph to update member states’ forest reference levels on the basis of the national forestry accounting plans or the technical corrections they have submitted , and any technical corrections and / or adjustments made by them . if a member state has not updated its forest reference level , the value specified in annex ii shall continue to apply for the period 2021 - 2025 and / or 2026 - 2030 .


### the commission shall adopt delegated acts in accordance with article 14 to amend annex ii in the light of the review carried out pursuant to paragraph to update member state forest reference levels based on the national forestry accounting plans or the technical corrections submitted , and any recalculations made in the context of the review . until the entry into force of the delegated act , member state forest reference levels as specified in annex ii shall continue to apply for the period 2021 - 2025 and / or 2026 - 2030 . ### the commission shall adopt delegated acts in accordance with article 14 to amend annex ii in the light of the review carried out pursuant to paragraph to update member state forest reference levels based on the national forestry accounting reports or the technical corrections submitted , and any recalculations made in the context of the review . until the entry into force of the delegated act , member state forest reference levels as specified in annex ii shall continue to apply for the period 2021 - 2025 and / or 2026 - 2030 .


### the commission shall adopt delegated acts in accordance with article 14 to amend annex ii in the light of the review carried out pursuant to paragraph to update member state forest reference levels based on the national forestry accounting plans or the technical corrections submitted , and any recalculations made in the context of the review . until the entry into force of the delegated act , member state forest reference levels as specified in annex ii shall continue to apply for the period 2021 - 2025 and / or 2026 - 2030 . ### the commission shall adopt delegated acts latest by 31 december 2019 in accordance with article 14 to amend annex ii in the light of the technical assessment carried out pursuant to paragraph 5 to update member state forest reference levels based on the national forestry accounting reports or the technical corrections submitted , and any recalculations made by the member state in the context of the technical assessment . in the event that a member state has not updated its forest reference level , the value as specified in annex ii shall continue to apply for the period 2021 - 2025 and / or 2026 - 2030 .


### for afforested land and managed forest land : harvested wood products . ### harvested wood products from both afforested land and managed forest land .


### member states shall include in their accounts for each land accounting category any change in the carbon stock of the carbon pools listed in annex i , section b . member states may choose not to include in their accounts changes in carbon stocks for carbon pools where the carbon pool is not a source , except for above - ground biomass and harvested wood products on managed forest land . ### member states shall include in their accounts for each accounting category any change in the carbon stock of the carbon pools listed in annex i , section b . member states may choose not to include in their accounts changes in carbon stocks for carbon pools where the carbon pool is not a source , except for above - ground biomass and harvested wood products on managed forest land .


### member states shall prevent any double counting of emissions or removals , in particular by accounting for emissions or removals resulting from more than one land accounting category under one category only . ### member states shall prevent any double counting of emissions or removals , in particular by accounting for emissions or removals resulting from more than one accounting category under one category only .


### improving access to inclusive and quality services in education , training and life long learning through developing infrastructure ; ### improving access to inclusive and quality services in culture , education , training , life long learning and sport through developing infrastructure ;


### improving access to inclusive and quality services in education , training and life long learning through developing infrastructure ; ### improving access to inclusive and quality services in education , training , life long learning and culture through developing infrastructure ;


### fostering the integrated social , economic and environmental development , cultural heritage and security in urban areas ; ### fostering the integrated social , economic and environmental development , culture , cultural heritage and security in urban areas ; recalling that all the projects related to cultural heritage preservation , restoration , reuse and communication should take into consideration the recommendations on quality interventions on cultural heritage sites issued during the european year of cultural heritage 2018 ;


### fostering the integrated social , economic and environmental local development , cultural heritage and security , including for rural and coastal areas also through community - led local development . ### fostering the integrated social , economic and environmental local development , culture , cultural heritage and security , including for rural and coastal areas also through community - led local development ; recalling that all the projects related to cultural heritage preservation , restoration , reuse and communication should take into consideration the recommendations on quality interventions on cultural heritage sites issued during the european year of cultural heritage 2018 ;


### increasing the socioeconomic integration of marginalised communities , migrants and disadvantaged groups , through integrated measures including housing and social services ; ### increasing the socioeconomic integration of marginalised communities , migrants and disadvantaged groups , through integrated measures including housing , social services , cultural activities and sports ;


### in order to make it easier and less costly to establish subsidiaries in other member states , the founders of sups should not be obliged to be physically present before any member state ' s registration body . the register should be accessible from any member state and a company founder should be able to make use of existing points of single contact created under directive 2006 / 123 / ec of the european parliament and of the council19 as a gateway to national on - line registration points . it should , therefore , be possible to establish sups from distance and fully by electronic means . __________________ 19 directive 2006 / 123 / ec of the european parliament and of the council of 12 december 2006 on services in the internal market . ### in order to make it easier and less costly to establish subsidiaries in other member states , the online registration of sups should be ensured . in such case , the payment of the consideration in cash should be required . the founders of sups should not be obliged to be physically present before any member state ' s registration body . the register should be accessible from any member state and a company founder should be able to make use of existing points of single contact created under directive 2006 / 123 / ec of the european parliament and of the council19 as a gateway to national on - line registration points . it should , therefore , be possible to establish sups from distance and fully by electronic means . __________________ 19 directive 2006 / 123 / ec of the european parliament and of the council of 12 december 2006 on services in the internal market .