### charges for the re - use of documents constitute an important market entry barrier for start - ups and smes . documents should therefore be made available for re - use without charges and , where charges are necessary , they should in principle be limited to the marginal costs . in exceptional cases , the necessity of not hindering the normal running of public sector bodies that are required to generate revenue to cover a substantial part of their costs relating to the performance of their public tasks should be taken into consideration . the role of public undertakings in a competitive economic environment should also be acknowledged . in such cases , public sector bodies and public undertakings should therefore be able to charge above marginal costs . those charges should be set according to objective , transparent and verifiable criteria and the total income from supplying and allowing re - use of documents should not exceed the cost of collection , production , reproduction and dissemination , together with a reasonable return on investment . where applicable , the costs of anonymisation of personal data or of commercially sensitive information should also be included in the eligible cost . the requirement to generate revenue to cover a substantial part of the public sector bodies’ costs relating to the performance of their public tasks or the scope of the services of general interest entrusted with public undertakings does not have to be a legal requirement and may stem , for example , from administrative practices in member states . such a requirement should be regularly reviewed by the member states . ### charges for the re - use of documents constitute an important market entry barrier for start - ups and microenterprises and smes . documents should therefore be made available for re - use without charges and , where charges are necessary , they should in principle be limited to the marginal costs . in exceptional cases , the necessity of not hindering the normal running of public sector bodies that are required to generate revenue to cover a substantial part of their costs relating to the performance of their public tasks should be taken into consideration . the role of public undertakings in a competitive economic environment should also be acknowledged . in such cases , public sector bodies and public undertakings should therefore be able to charge above marginal costs . those charges should be set according to objective , transparent and verifiable criteria and the total income from supplying and allowing re - use of documents should not exceed the cost of collection , production , reproduction and dissemination , together with a reasonable return on investment . where applicable , the costs of anonymisation of personal data or of commercially sensitive information should also be included in the eligible cost . the requirement to generate revenue to cover a substantial part of the public sector bodies’ costs relating to the performance of their public tasks or the scope of the services of general interest entrusted with public undertakings does not have to be a legal requirement and may stem , for example , from administrative practices in member states . such a requirement should be regularly reviewed by the member states .


### regulation 2018 / xxx of the european parliament and of the council [ new cpr ] 16 sets out common rules applicable to various funds including the european regional development fund , the european social fund plus , the cohesion fund , the european maritime and fisheries fund , the asylum and migration fund , the internal security fund and the border management and visa instrument which operate under a common framework . _________________ 16 [ full reference - new cpr ] . ### regulation 2018 / xxx of the european parliament and of the council [ new cpr ] 16 sets out common rules applicable to various funds including the european regional development fund , the european social fund plus , the european agricultural fund for rural development , the cohesion fund , the european maritime and fisheries fund , the asylum and migration fund , the internal security fund and the border management and visa instrument which operate under a common framework . _________________ 16 [ full reference - new cpr ] .


### in order to identify the type of activities which can be supported by the erdf and the cohesion fund , specific policy objectives for providing support from those funds should be laid down to ensure that they contribute to one or more of common policy objectives set out in article 4 of regulation 2018 / xxx [ new cpr ] . ### in order to identify the type of activities which can be supported by the erdf and the cohesion fund , harmonised specific policy objectives for providing support from those funds should be laid down to ensure that they contribute to one or more of common policy objectives set out in article 4 of regulation 2018 / xxx [ new cpr ] .


### in addition , investments under the erdf should contribute to the development of a comprehensive high - speed digital infrastructure network , and to promoting clean and sustainable multimodal urban mobility . ### in addition , investments under the erdf should contribute to the development of a comprehensive high - speed digital infrastructure network , and to promoting clean and sustainable multimodal urban mobility , thereby fostering greater economic , social and territorial cohesion and helping to create a more competitive social market economy which can effectively combat climate change .


### this regulation also sets out the specific objectives and the scope support from the cohesion fund with regard to the investment for jobs and growth goal referred to in [ point of article 4 ] of regulation 2018 / xxxx [ new cpr ] . ### this regulation also sets out the specific objectives and the scope support from the cohesion fund with regard to the investment for jobs and growth goal referred to in [ point of article 4 ] of regulation 2018 / xxxx [ new cpr ] . it also supplements rural development policy insofar as support for balanced territorial development is concerned .


### enhancing research and innovation capacities and the uptake of advanced technologies ; ### enhancing research and innovation capacities , the uptake of advanced technologies and improving access to and the use and quality of technologies ;


### enhancing growth and competitiveness of smes ; ### enhancing and advancing the growth and competitiveness of smes ;


### ' a greener , low - carbon europe by promoting clean and fair energy transition , green and blue investment , the circular economy , climate adaptation and risk prevention and management by : ### ' a greener , lower - carbon europe by promoting and supporting clean and fair energy transition , green and blue investment , the circular economy , climate adaptation and risk prevention and management by :


### investments in access to services ; ### investments in access to services and skills ;


### member states shall ensure an appropriate balance between investments under points and . ### member states shall ensure a balance between investments under points and that is fair in national terms , proportionate and appropriate .


### sustainable urban development ### sustainable urban and rural development


### the erdf shall support integrated territorial development based on territorial strategies in accordance with article [ 23 ] of regulation 2018 / xxxx [ new cpr ] focused on urban areas within programmes under both goals referred to in article 4 of that regulation . ### the erdf shall support integrated territorial development based on territorial strategies in accordance with article [ 23 ] of regulation 2018 / xxxx [ new cpr ] focused on urban and rural areas within programmes under both goals referred to in article 4 of that regulation .


### at least 6% of the erdf resources at national level under the investment for jobs and growth goal , other than for technical assistance , shall be allocated to sustainable urban development in the form of community - led local development , integrated territorial investments or another territorial tool under po5 . ### at least 6% of the erdf resources at national level under the investment for jobs and growth goal , other than for technical assistance , shall be allocated to sustainable urban and rural development in the form of community - led local development , integrated territorial investments or another territorial tool under po5 .


### etias should contribute to the facilitation of border checks performed by border guards at the external borders crossing points and ensure a coordinated and harmonised assessment of third country nationals subject to the travel authorisation requirement intending at visiting the schengen area . in addition it should enable to better inform applicants of their eligibility to visit the schengen area . moreover , the etias should also contribute to the facilitation of border checks by reducing the number of refusals of entry at the external borders . ### etias should contribute to the facilitation of border checks performed by border guards , thereby preventing delays at border crossing points and ensure a coordinated and harmonised assessment of third country nationals subject to the travel authorisation requirement intending at visiting the schengen area . in addition it should enable to better inform applicants of their eligibility to visit the schengen area . moreover , the etias should also contribute to the facilitation of border checks by reducing the number of refusals of entry at the external borders .


### etias should contribute to the facilitation of border checks performed by border guards at the external borders crossing points and ensure a coordinated and harmonised assessment of third country nationals subject to the travel authorisation requirement intending at visiting the schengen area . in addition it should enable to better inform applicants of their eligibility to visit the schengen area . moreover , the etias should also contribute to the facilitation of border checks by reducing the number of refusals of entry at the external borders . ### etias should contribute to the facilitation of border checks performed by border guards at the external borders crossing points and ensure a coordinated and harmonised assessment of third country nationals subject to the travel authorisation requirement intending at visiting the european union . in addition it should enable to better inform applicants of their eligibility to visit the european union . moreover , the etias should also contribute to the facilitation of border checks by reducing the number of refusals of entry at the external borders .


### the personal data provided by the applicant should be processed by the etias for the sole purposes of verifying in advance the eligibility criteria laid down in regulation 2016 / 39924 and assessing whether the applicant is likely to irregularly migrate , whether the entry of the applicant in the union could pose a threat to security or to public health in the union . _________________ 24 regulation 2016 / 399 of the european parliament and of the council of 9 march 2016 on a union code on the rules governing the movement of persons across borders . ### the personal data provided by the applicant should be processed by the etias for the sole purposes of verifying in advance the eligibility criteria laid down in regulation 2016 / 39924 and assessing whether the entry of the applicant in the union could pose a security or irregular migration risk . _________________ 24 regulation 2016 / 399 of the european parliament and of the council of 9 march 2016 on a union code on the rules governing the movement of persons across borders .


### the comparison should take place by automated means . whenever such comparison reveals that a correspondence exists with any of the personal data or combination thereof in the applications and a record , file or alert in the above information systems , or with personal data in the etias watchlist , or with risk indicators , the application should be processed manually by an operator in the etias national unit of the member state of declared first entry . the assessment performed by the etias national unit should lead to the decision to issue or not the travel authorisation . ### the comparison should take place by automated means . whenever such comparison reveals that a correspondence exists with any of the personal data or combination thereof in the applications and a record , file or alert in the above information systems , or with personal data in the etias watchlist , or with risk indicators , the application should be processed manually by an operator in the etias national unit of the responsible member state . the assessment performed by the etias national unit should lead to the decision to issue or not the travel authorisation .


### where the official language of the countries listed in annex ii of council regulation no 539 / 2001 do not correspond to the languages referred to in paragraph 3 , factsheets with information concerning the content and the use of the public website and the mobile app for mobile devices and explanatory information shall be made available in at least one of the official languages of the countries referred to . ### where the official language of the countries listed in annex ii of council regulation no 539 / 2001 do not correspond to the languages referred to in paragraph 3 , factsheets with explanatory information concerning the application lodging procedures and step - by - step information on the application form shall be made available in at least one of the official languages of the countries referred to .


### their status of family member ; ### their status as a family member ;


### the member state responsible for the manual processing of applications pursuant to this article shall be the member state of first entry as declared by the applicant in accordance with article 15 . ### the member state responsible for the manual processing of applications pursuant to this article shall be : in case of a hit from any of the checked systems , the member state which entered the most recent alert resulting in a hit ; in the case of a hit from the etias watchlist , the member state which provided the data for the watchlist ; in all other cases , the member state of intended destination as declared by the applicant in accordance with article 15 .


### the request for additional information or documentation shall be notified to the contact e - mail address recorded in the application file . the request for additional information or documentation shall clearly indicate the information or documentation that the applicant is required provide . the applicant shall provide the additional information or documentation directly to the etias national unit through the secure account service referred to in article 6 within 7 working days of the date of receipt of the request . ### the request for additional information or documentation shall be notified to the contact e - mail address recorded in the application file . the request for additional information or documentation shall clearly indicate the information or documentation that the applicant is required provide . the applicant shall provide the additional information or documentation directly to the etias national unit through the secure account service referred to in article 6 within 14 working days of the date of receipt of the request .


### in exceptional circumstances , the etias national unit may invite the applicant for an interview at a consulate in his or her country of residence . ### in exceptional circumstances , the etias national unit may invite the applicant for an interview at a consulate in his or her country of residence , or use modern means of communication to carry out an interview with the applicant .


### information provided by member states concerning specific security risk indicators or threats identified by that member state ; ### information provided by member states concerning specific security risk indicators or threats identified by that member state , substantiated by objective and evidence - based elements ;


### information related to terrorist offences or other serious criminal offences provided by member states ; ### information related to terrorist offences or other serious criminal offences provided by member states ; member states are accountable of the information they provide and their accuracy .


### on the basis of the information referred to in paragraph 2 and relevant europol data , europol shall establish the etias watchlist composed of items consisting of one or more of the following data elements : ### on the basis of the information referred to in paragraph 2 and relevant europol data , europol shall establish the etias watchlist composed of items consisting of at least two of the following data elements :


### the ground for refusal of the travel authorisation , as laid down in article 31 ; ### the detailed and specific ground for refusal of the travel authorisation , as laid down in article 31 ; this information shall be sufficient for applicants to formulate meaningful appeals and remedies .


### the ground for refusal of the travel authorisation as laid down in article 31 . ### the detailed and specific ground for refusal of the travel authorisation as laid down in article 31 .


### the ground for the annulment or revocation of the travel authorisation , as laid down in article 31 ; ### the detailed and specific ground for the annulment or revocation of the travel authorisation , as laid down in article 31 ; this information shall be sufficient for applicants to formulate meaningful appeals and remedies .


### the competent authorities shall submit a reasoned electronic request for consultation of a specific set of data stored in the etias central system to the central access points referred to in article 8 . where consultation of data referred to in article 15 and to is sought , the reasoned electronic request shall include a justification of the necessity to consult those specific data . ### the competent authorities shall submit a reasoned electronic request for consultation of a specific set of data stored in the etias central system to the central access points referred to in article 8 . where consultation of data referred to in article 15 and is sought , the reasoned electronic request shall include a justification of the necessity to consult those specific data .


### in an exceptional case of urgency , where there is a need to immediately obtain personal data necessary for preventing the commission of a serious crime or for prosecuting its perpetrators , the central access point shall process the request immediately and without the independent verification provided in paragraph 2 . an ex post independent verification shall take place without undue delay after the processing of the request , including whether an exceptional case of urgency actually existed . ### in an exceptional case of urgency , where there is a need to prevent an imminent danger associated with a terrorist offence or other serious criminal offence , the central access point shall process the request immediately and without the independent verification provided in paragraph 2 . an independent ex post verification shall verify whether the conditions referred to in article 45 are fulfilled , including whether an exceptional case of urgency actually existed . the ex post independent verification shall take place without undue delay after the processing of the request .


### where an ex post independent verification determines that the consultation of and access to the data recorded in the etias central system were not justified , all the authorities that accessed and / or consulted such data shall erase the data originating from the etias central system and shall inform the central access point of the erasure . ### where an ex post independent verification determines that the consultation of and access to the data recorded in the etias central system were not justified , all the authorities that accessed and / or consulted such data shall erase the data originating from the etias central system and shall inform the central access point of the erasure . member states shall take all measures necessary to ensure that the provisions of article 44 are implemented and foresee penalties applicable to the infringement of article 44 and article 45 , according to their national law . all the conditions referred to in article 45 shall be fulfilled . if the ex post verification determines they were not and that no exceptional case or urgency actually existed , effective , proportionate and dissuasive penalties shall apply .


### consultation of the etias central system shall , in the event of a hit with data recorded in an application file , give access to the data referred to in article 15 to and to as recorded in that application file as well as to data entered in that application file in respect of the issuing , refusal , revocation or annulment of a travel authorisation in accordance with articles 33 and 37 . access to the data referred to in article 15 and in to as recorded in the application file shall only be given if consultation of that data was explicitly requested by the operating units in the reasoned electronic request submitted under article 44 and approved by the independent verification . consultation of the etias central system shall not give access to data concerning the education as referred to in article 15 or on whether or not the applicant may pose a public health risk as referred to in article 15 . ### consultation of the etias central system shall , in the event of a hit with data recorded in an application file , give access to the data referred to in article 15 to and to as recorded in that application file as well as to data entered in that application file in respect of the issuing , refusal , revocation or annulment of a travel authorisation in accordance with articles 33 and 37 . access to the data referred to in article 15 and as recorded in the application file shall only be given if consultation of that data was explicitly requested by the operating units in the reasoned electronic request submitted under article 44 and approved by the independent verification .


### the reasoned request shall contain evidence that the following conditions are met : ### the reasoned request shall contain evidence that all the following conditions are met :


### consultation of the etias central system shall , in the event of a hit with data stored in an application file , give access to the data referred to in article 15 to and to as well as to the data entered in the application file in respect to the issuing , refusal , revocation or annulment of a travel authorisation in accordance with articles 33 and 37 . access to the data referred to in article 15 and in to as stored in the application file shall only be given if consultation of that data was explicitly requested by europol . ### consultation of the etias central system shall , in the event of a hit with data stored in an application file , give access to the data referred to in article 15 to and to as well as to the data entered in the application file in respect to the issuing , refusal , revocation or annulment of a travel authorisation in accordance with articles 33 and 37 . access to the data referred to in article 15 and as stored in the application file shall only be given if consultation of that data was explicitly requested by europol .


### both eu - lisa and the etias national units shall ensure the security of processing of personal data takes place pursuant to the application of this regulation . eu - lisa and the etias national units shall cooperate on security related tasks . ### eu - lisa , the etias national units and the european border and coast guard agency shall ensure the security of processing of personal data takes place pursuant to the application of this regulation . eu - lisa , the etias national units and the european border and coast guard agency shall cooperate on security related tasks .


### the infrastructures supporting the public website , the mobile app and the carrier gateway shall be hosted in eu - lisa ' sites or in commission sites . these infrastructures shall be geographically distributed to provide the functionalities laid down in this regulation in accordance with the conditions of security , availability , quality and speed laid down in paragraph 3 . ### the infrastructures supporting the public website , the mobile app and the carrier gateway shall be hosted in eu - lisa ' sites or in commission sites . these infrastructures shall be geographically distributed to provide the functionalities laid down in this regulation in accordance with the conditions of data protection by design and default , security , availability , quality and speed laid down in paragraph 3 .


### following the entry into operations of the etias , eu - lisa shall be responsible for the technical management of the central system and the national uniform interfaces . it shall ensure , in cooperation with the member states , at all times the best available technology , subject to a cost - benefit analysis . eu - lisa shall also be responsible for the technical management of the communication infrastructure between the central system and the national uniform interfaces as well as for the public website , the mobile app for mobile devices , the email service , the secure account service , the carrier gateway , the web service and the software to process the applications referred to in article 6 . ### following the entry into operations of the etias , eu - lisa shall be responsible for the technical management of the central system , the national uniform interfaces and the etias watchlist . it shall ensure , in cooperation with the member states , at all times the best available technology , subject to a cost - benefit analysis . eu - lisa shall also be responsible for the technical management of the communication infrastructure between the central system and the national uniform interfaces as well as for the public website , the mobile app for mobile devices , the email service , the secure account service , the carrier gateway , the web service and the software to process the applications referred to in article 6 .


### for a period of six months from the date etias commences operations , the utilisation of etias shall be optional and the requirement to be in possession of a valid travel authorisation shall not apply . the commission may adopt a delegated act in accordance with article 78 to extend that period for a maximum of a further six months . ### for a period of twelve months from the date etias commences operations , the utilisation of etias shall be optional and the requirement to be in possession of a valid travel authorisation shall not apply . the commission may adopt a delegated act in accordance with article 78 to extend that period for a maximum of a further twelve months .


### during this six month period , the border guards shall inform third country nationals subject to the travel authorisation requirement crossing the external borders of the requirement to have a valid travel authorisation from the expiry of the six month period . for this purpose , the border guards shall distribute a common leaflet to this category of travellers . ### during this twelve month period , the border guards shall inform third country nationals subject to the travel authorisation requirement crossing the external borders of the requirement to have a valid travel authorisation from the expiry of the twelve month period . for this purpose , the border guards shall distribute a common leaflet to this category of travellers .


### the common leaflet shall be drawn up and set up by the commission . that implementing act shall be adopted in accordance with the examination procedure referred to in article 79 and shall contain at a minimum the information referred to in article 61 . the leaflet shall be clear and simple and available in a language version the person concerned understands or is reasonably assumed to understand . ### the common leaflet shall be drawn up and set up by the commission . that implementing act shall be adopted in accordance with the examination procedure referred to in article 79 and shall contain at a minimum the information referred to in article 61 . the leaflet shall be clear and simple and available in all the official languages of the member states , and in at least one of the official languages of each third country whose nationals fall within the scope of this regulation .


### a delegated act adopted pursuant to article 15 and , article 16 , article 28 and article 72 and shall enter into force only if no objection has been expressed either by the european parliament or the council within a period of [ two months ] of notification of that act to the european parliament and the council or if , before the expiry of that period , the european parliament and the council have both informed the commission that they will not object . that period shall be extended by [ two months ] at the initiative of the european parliament or of the council . ### a delegated act adopted pursuant to article 15 and , article 16 , article 28 , article 72 and and article 73 shall enter into force only if no objection has been expressed either by the european parliament or the council within a period of [ two months ] of notification of that act to the european parliament and the council or if , before the expiry of that period , the european parliament and the council have both informed the commission that they will not object . that period shall be extended by [ two months ] at the initiative of the european parliament or of the council .


### by [ six months after the entry into force of this regulation – opoce , please replace with the actual date ] and every six months thereafter during the development phase of the etias information system , eu - lisa shall submit a report to the european parliament and the council on the state of play of the development of the central system , the uniform interfaces and the communication infrastructure between the central system and the uniform interfaces . once the development is finalised , a report shall be submitted to the european parliament and the council explaining in detail how the objectives , in particular relating to planning and costs , were achieved as well as justifying any divergences . ### by [ six months after the entry into force of this regulation – opoce , please replace with the actual date ] and every six months thereafter during the development phase of the etias information system , eu - lisa shall submit a report to the european parliament and the council on the state of play of the development of the central system , the uniform interfaces and the communication infrastructure between the central system and the uniform interfaces . once the development is finalised , a report shall be submitted to the european parliament , the council and the edps explaining in detail how the objectives , in particular relating to planning and costs , were achieved as well as justifying any divergences .


### member states’ and europol’s annual reports shall be transmitted to the commission by 30 june of the subsequent year . ### member states’ and europol’s annual reports shall be transmitted to the commission and the european parliament by 30 june of the subsequent year .


### appropriate measures shall be taken where a generalised deficiency as regards the rule of law in a member state affects or risks affecting the principles of sound financial management or the protection of the financial interests of the union , in particular : ### appropriate , balanced and proportional measures shall be taken where a generalised deficiency as regards the rule of law in a member state , as defined by its constitution , affects or risks affecting the principles of sound financial management or the protection of the financial interests of the union , in particular :


### transparency on the votes of member state representatives at the appeal committee level should be increased and the individual member state representatives ' votes should be made public . ### transparency on the votes of member state representatives at the committee and the appeal committee level should be increased and the individual member state representatives ' votes should be made public .


### the chair shall set the date of the appeal committee meeting in close cooperation with the members of the committee , in order to enable member states and the commission to ensure an appropriate level of representation . by 1 april 2011 , the commission shall convene the first meeting of the appeal committee in order to adopt its rules of procedure ### in article 3 paragraph 7 , the fifth subparagraph is replaced by the following : ' the chair shall set the date of the appeal committee meeting in close cooperation with the members of the committee , in order to enable member states and the commission to ensure the highest appropriate level of representation . '


### the commission shall conduct consultations with the member states . 14 days at the earliest and 1 month at the latest after the committee meeting , the commission shall inform the committee of the results of those consultations and submit a draft implementing act to the appeal committee . by way of derogation from article 3 , the appeal committee shall meet 14 days at the earliest and 1 month at the latest after the submission of the draft implementing act . the appeal committee shall deliver its opinion in accordance with article 6 . the time limits laid down in the paragraph shall be without prejudice to the need to respect the deadlines laid down in the relevant basic acts . ### in article 5 paragraph 5 , second subparagraph is replaced by the following : ' the commission shall conduct consultations with the member states . 10 days at the earliest and 21 days at the latest after the committee meeting , the commission shall inform the committee of the results of those consultations and submit a draft implementing act to the appeal committee . by way of derogation from article 3 , the appeal committee shall meet 10 days at the earliest and 21 days at the latest after the submission of the draft implementing act . the appeal committee shall deliver its opinion in accordance with article 6 . the time limits laid down in the paragraph shall be without prejudice to the need to respect the deadlines laid down in the relevant basic acts . the european parliament shall be informed about the decision adopted . '


### the voting results including , in the case of the appeal committee , the votes expressed by the representative of each member state ; ; ### the voting results including the votes expressed by the representative of each member state ;


### young people should be provided with easily accessible opportunities to engage in solidarity activities , which could enable them to express their commitment to the benefit of communities while acquiring useful experience , skills and competences for their personal , educational , social , civic and professional development , thereby improving their employability . those activities would also support the mobility of young volunteers , trainees and workers . ### young people should be provided with easily accessible opportunities to engage in solidarity activities , which could enable them to express their commitment to the benefit of communities of member states while acquiring useful experience , skills and competences for their personal , educational , social , civic and professional development , thereby improving their employability . those activities would also support the mobility of young volunteers , trainees and workers .


### the solidarity activities offered to young people should be of high quality , in the sense that they should respond to unmet societal needs , contribute to strengthening communities , offer young people the opportunity to acquire valuable knowledge and competences , be financially accessible to young people , and be implemented in safe and healthy conditions . ### the solidarity activities offered to young people should be of high quality , take account of their skills and be closely correlated to society’s development , in the sense that they should respond to unmet societal needs , contribute to strengthening communities , offer young people the opportunity to acquire valuable knowledge and competences , be financially accessible to young people , and be implemented in safe and healthy conditions .


### in order to maximise the impact of the european solidarity corps , provisions should be made to allow other union programmes such as the asylum , migration and integration fund , the europe for citizens programme , the european regional development fund and the health programme to contribute to the objectives of the european solidarity corps by supporting activities within its scope . this contribution should be financed in accordance with the respective basic acts of the concerned programmes . once they have obtained a valid european solidarity corps quality label , the beneficiaries should be given access to the european solidarity corps portal and receive the quality and support measures provided according to the type of activity offered . ### in order to maximise the impact of the european solidarity corps , other union programmes such as the asylum , migration and integration fund , the europe for citizens programme , the european regional development fund and the health programme should contribute to the objectives of the european solidarity corps by supporting activities within its scope . this contribution should be financed in accordance with the respective basic acts of the concerned programmes , without having a negative impact on existing operational programmes of the eu cohesion policy as such and subject to means available , related to their take - up . once they have obtained a valid european solidarity corps quality label , the beneficiaries should be given access to the european solidarity corps portal and receive the quality and support measures provided according to the type of activity offered .


### the european solidarity corps should open up new opportunities for young people to carry out volunteering , traineeship or job placements in solidarity - related areas as well as to devise and develop solidarity projects based on their own initiative . those opportunities should contribute to enhancing their personal , educational , social , civic and professional development . the european solidarity corps should also support networking activities for european solidarity corps participants and organisations as well as measures to ensure the quality of the supported activities and to enhance the validation of their learning outcomes . ### the european solidarity corps should open up new opportunities for young people to carry out volunteering , traineeship or job placements in solidarity - related areas as well as to devise and develop solidarity projects based on their own initiative . those opportunities should contribute to enhancing their personal , educational , social , civic and professional development , with a view to improving their subsequent access to the labour market . the european solidarity corps should also support networking activities for european solidarity corps participants and organisations enabling them to exchange best practices , as well as measures to ensure the quality of the supported activities and to enhance the validation of their learning outcomes .


### young people’s spirit of initiative is an important asset for society and for the labour market . the european solidarity corps should contribute to fostering this aspect by offering young people the opportunity to devise and implement their own projects aimed at addressing specific challenges to the benefit of their local communities . those projects should be an opportunity to try out ideas and support young people to be themselves drivers of solidarity actions . they could also serve as a springboard for further engagement in solidarity activities and could be a first step towards encouraging european solidarity corps participants to engage in self - employment or setting up associations , ngos or other bodies active in the solidarity , non - profit and youth sectors . ### young people’s spirit of initiative is an important asset for society and for the labour market . the european solidarity corps should contribute to fostering this aspect by offering young people the opportunity to devise and implement their own projects aimed at addressing specific challenges to the benefit of their local communities , particularly communities located in isolated or marginalised areas . those projects should be an opportunity to try out ideas and support young people to be themselves drivers of solidarity actions . they could also serve as a springboard for further engagement in solidarity activities and could be a first step towards encouraging european solidarity corps participants to engage in self - employment or setting up associations , ngos or other bodies active in the solidarity , non - profit and youth sectors .


### a quality label should be put in place to ensure compliance of the participating organisations with the principles and requirements of the european solidarity corps charter , as regards their rights and responsibilities during all stages of the solidarity experience . obtaining a quality label should be a precondition for participation but should not automatically lead to funding under the european solidarity corps . ### a quality label should be put in place to ensure compliance of the participating organisations with the principles and requirements of the european solidarity corps charter , as regards their rights and responsibilities during all stages of the solidarity experience . obtaining a quality label , based on common criteria recognised at european level , should be a precondition for participation but should not automatically lead to funding under the european solidarity corps .


### a european solidarity corps resource centre should assist the implementing bodies , the participating organisations and the young people taking part in the european solidarity corps in order to raise the quality of the implementation and of the activities of the european solidarity corps as well as to enhance the identification and validation of competences acquired through these activities . ### a european solidarity corps resource centre should assist the implementing bodies , the participating organisations and the young people taking part in the european solidarity corps in order to raise the quality of the implementation and of the activities of the european solidarity corps as well as to enhance the identification , validation and certification of competences acquired through these activities .


### a european solidarity corps portal should continuously be developed in order to ensure easy access to the european solidarity corps and to provide a one - stop shop for both interested individuals and organisations as regards , inter alia , registration , identification and matching of profiles and opportunities , networking and virtual exchanges , online training , language and post - placement support as well as other useful functionalities , which may arise in the future . ### a european solidarity corps portal should continuously be developed in order to ensure easy access to the european solidarity corps and to provide a one - stop shop for both interested individuals and organisations as regards , inter alia , registration , identification and matching of profiles and opportunities , networking and virtual exchanges , online training , language and post - placement support as well as other useful functionalities , which may arise in the future , which should be correlated to society’s development .


### in order to maximise the impact of the european solidarity corps , provisions should be made to allow participating countries to make additional national funding available in accordance with the rules of the european solidarity corps . ### in order to maximise the impact of the european solidarity corps , participating countries should make additional national , regional and local funding available in accordance with the rules of the european solidarity corps .


### in addition to the member states , the european solidarity corps should also be open to the participation of other countries on the basis of bilateral agreements . this participation should be based , where relevant , on additional appropriations to be made available in accordance with the procedures to be agreed with the concerned countries . ### in addition to the member states , the european solidarity corps should also be open to the participation of other countries on the basis of bilateral agreements , particularly in the case of cross - border programmes . this participation should be based , where relevant , on additional appropriations to be made available in accordance with the procedures to be agreed with the concerned countries .


### special attention should be paid to ensuring that the activities supported by the european solidarity corps are accessible to all young people , notably the most disadvantaged ones . special measures should therefore be put in place to promote social inclusion , the participation of disadvantaged young people , as well as to take into account the constraints imposed by the remoteness of the outermost regions of the union and the overseas countries and territories24 . similarly , the participating countries should endeavour to adopt all appropriate measures to remove legal and administrative obstacles to the proper functioning of the european solidarity corps . this includes resolving , where possible , and without prejudice to the schengen acquis and union law on the entry and residence of third - country nationals , administrative issues that create difficulties in obtaining visas and residence permits . _________________ 24 individuals from an overseas country or territory and competent public and / or private bodies and institutions from an oct may participate in the programmes in accordance with council decision 2001 / 822 / ec of 27 november 2001 on the association of the overseas countries and territories with the european community , oj l314 , 30 . 11 . 2001 , p . 1 . ### special attention should be paid to ensuring that the activities supported by the european solidarity corps are accessible to all young people , notably the most disadvantaged ones . special measures should therefore be put in place to promote social inclusion , the participation of disadvantaged young people , as well as to take into account the constraints imposed by the remoteness of the outermost regions of the union and the overseas countries and territories24 . it is essential for national agencies meet the cost of travel for young people in advance without the need to seek subsequent reimbursement . similarly , the participating countries should endeavour to adopt all appropriate measures to remove legal and administrative obstacles to the proper functioning of the european solidarity corps . this includes resolving , where possible , and without prejudice to the schengen acquis and union law on the entry and residence of third - country nationals , administrative issues that create difficulties in obtaining visas and residence permits . _________________ 24 individuals from an overseas country or territory and competent public and / or private bodies and institutions from an oct may participate in the programmes in accordance with council decision 2001 / 822 / ec of 27 november 2001 on the association of the overseas countries and territories with the european community , oj l314 , 30 . 11 . 2001 , p . 1 .


### any entity willing to participate in the european solidarity corps , whether funded by the european solidarity corps budget , by another union programme or by a different funding source , should receive a quality label provided that the appropriate conditions are fulfilled . the process that leads to the attribution of a quality label should be carried out on a continuous basis by the implementing structures of the european solidarity corps . the attributed quality label should be reassessed periodically and could be revoked if , in the context of the checks to be performed , the conditions that led to its attribution were found to be no longer fulfilled . ### any entity willing to participate in the european solidarity corps , whether funded by the european solidarity corps budget , by another union programme or by a different funding source , should receive a quality label provided that the appropriate conditions are fulfilled . the process that leads to the attribution of a quality label should be carried out on a continuous , public and transparent basis by the implementing structures of the european solidarity corps . the attributed quality label should be reassessed annually and could be revoked if , in the context of the checks to be performed , the conditions that led to its attribution were found to be no longer fulfilled .


### appropriate outreach , publicity and dissemination of the opportunities and results of the actions supported by the european solidarity corps should be ensured at european , national and local level . the outreach , publicity and dissemination activities should rely on all the implementing bodies of the european solidarity corps , including , when relevant , with the support of other key stakeholders . ### appropriate outreach , publicity and dissemination of the opportunities and results of the actions supported by the european solidarity corps should be ensured at european , national and local level . the outreach , publicity and dissemination activities should rely on all the implementing bodies of the european solidarity corps , including , when relevant , with the support of other key stakeholders , without enhancing bureaucracy .


### in order to ensure financially sound implementation and close monitoring of the european solidarity corps at national level , it is important to use the existing national authorities designated for the management of the actions referred to in chapter iii of regulation no 1288 / 2013 . ### in order to ensure financially sound implementation and close monitoring of the european solidarity corps at national level , it is important to use - and reinforce when needed - the existing national authorities designated for the management of the actions referred to in chapter iii of regulation no 1288 / 2013 .


### since the objective of this regulation , namely to establish a european solidarity corps , cannot be sufficiently achieved by the member states but can rather , by reason of its scale and effects , be better achieved at union level , the union may adopt measures , in accordance with the principle of subsidiarity as set out in article 5 of the treaty on european union . in accordance with the principle of proportionality , as set out in that article , this regulation does not go beyond what is necessary in order to achieve those objectives . ### since the objective of this regulation , namely to establish a european solidarity corps , cannot be solely achieved by the member states but can rather , by reason of its scale and effects , be better achieved at union level , the union may adopt measures , in accordance with the principle of subsidiarity as set out in article 5 of the treaty on european union . in accordance with the principle of proportionality , as set out in that article , this regulation does not go beyond what is necessary in order to achieve those objectives .


### &#8220 ; solidarity activity&#8221 ; means an activity aimed at addressing unmet societal needs to the benefit of a community while also fostering the individual ' s personal , educational , social , civic and professional development , which may take the form of placements , projects or networking activities , developed in relation to different areas , such as education and training , employment , gender equality , entrepreneurship , in particular social entrepreneurship , citizenship and democratic participation , environment and nature protection , climate action , disaster prevention , preparedness and recovery , agriculture and rural development , provision of food and non - food items , health and wellbeing , creativity and culture , physical education and sport , social assistance and welfare , reception and integration of third - country nationals , territorial cooperation and cohesion ; ### &#8220 ; solidarity activity&#8221 ; means an activity aimed at addressing unmet societal needs to the benefit of a community while also fostering the individual ' s personal , educational , social , civic and professional development , which may take the form of placements , projects or networking activities , developed in relation to different areas , such as education and training , including in new technologies , employment , gender equality , entrepreneurship , in particular social entrepreneurship , citizenship and democratic participation , environment and nature protection , climate action , disaster prevention , preparedness and recovery , agriculture and rural development , provision of food and non - food items , health and wellbeing , creativity and culture , physical education and sport , social assistance and welfare , reception and integration of third - country nationals , territorial cooperation and cohesion ;


### “participating organisation” means any public or private entity that has been attributed the european solidarity corps quality label , which offers a placement to a participant in the european solidarity corps or implements other activities in the framework of the european solidarity corps ; ### “participating organisation” means any public or private entity that has been attributed the european solidarity corps quality label , based on common criteria recognised at european level , which offers a placement to a participant in the european solidarity corps or implements other activities in the framework of the european solidarity corps ;


### “quality label” means the certification attributed to a public or private entity or an international organisation willing to provide placements under the european solidarity corps following a procedure aimed at ensuring compliance with the principles and requirements of the european solidarity corps charter ; ### “quality label” means the certification attributed to a public or private entity or an international organisation willing to provide placements under the european solidarity corps , based on common criteria recognised at european level and following a procedure aimed at ensuring compliance with the principles and requirements of the european solidarity corps charter ;


### measures aimed at ensuring the quality of solidarity placements , including training , language support , administrative support for participants and participating organisations , insurance , post - placement support as well as the development of a certificate that identifies and documents the knowledge , skills and competences acquired during the placement ; ### measures aimed at ensuring the quality of solidarity placements , including training , language support , administrative support for participants and participating organisations , insurance , post - placement support , for example through a tutor / supervisor as well as the development of a certificate that identifies , documents and validates the knowledge , skills and competences acquired during the placement ;


### the development and maintenance of a quality label for entities willing to provide placements for the european solidarity corps in order to ensure compliance with the principles and requirements of the european solidarity corps charter ; ### the development and maintenance of a quality label awarded on the basis of common criteria recognised at european level for entities willing to provide placements for the european solidarity corps in order to ensure compliance with the principles and requirements of the european solidarity corps charter ;


### the establishment , maintenance and updating of the european solidarity corps portal and other relevant online services as well as the necessary it support systems and web - based tools . ### the establishment , maintenance and updating of the european solidarity corps portal and other relevant online services , which shall be available in all official languages of the union , as well as the necessary it support systems and web - based tools .


### the member states shall participate in the european solidarity corps . ### the member states shall participate in the european solidarity corps to strengthen social cohesion though solidarity and eu intervention .


### the european solidarity corps shall be open for the participation of other countries on the basis of bilateral agreements . cooperation shall be based , where relevant , on additional appropriations to be made available in accordance with the procedures to be agreed with those countries . ### the european solidarity corps shall be open for the participation of other countries on the basis of bilateral and multilateral agreements for cross - border projects with non - eu european countries . cooperation shall be based , where relevant , on additional appropriations to be made available in accordance with the procedures to be agreed with those countries .


### young people aged 17 to 30 years willing to participate in the european solidarity corps shall register in the european solidarity corps portal . however , at the moment of commencing a placement or a project a registered young person shall be at least 18 years of age and not older than 30 . ### young people aged 17 to 30 years willing to participate in the european solidarity corps shall register in the european solidarity corps portal . however , at the moment of commencing a placement or a project a registered young person shall be at least 18 years of age and not older than 30 . young people may participate in this project as many times as they wish , regardless of availability .


### when implementing this regulation , the commission and the participating countries shall ensure that particular efforts are made to promote social inclusion , in particular for the participation of disadvantaged young people . ### when implementing this regulation , the commission and the participating countries shall ensure that particular efforts are made to promote social inclusion , in particular for the participation of disadvantaged young people with guaranteed specific volunteer training for all participants .


### the european solidarity corps shall be open to the participation of public or private entities , or international organisations , provided that they have received a european solidarity corps quality label . ### the european solidarity corps shall be open to the participation of public or private entities , or international organisations , provided that they have received a european solidarity corps quality label in line with the objectives of this regulation , making access to the european solidarity body more flexible , with clear and simple rules and ensuring that volunteering is not allowed to morph into a professional activity .


### as a result of the assessment the entity may be attributed the european solidarity corps quality label . the obtained label shall be re - assessed periodically and may be revoked . ### as a result of the assessment the entity may be attributed the european solidarity corps quality label . the obtained label shall be re - assessed periodically and may be revoked , but it may then be re - attributed following a further assessment .


### in order to implement this regulation , the commission shall adopt work programmes by way of implementing acts . each work programme shall ensure that the general and specific objectives set out in articles 3 and 4 are implemented in a consistent manner and shall outline the expected results , the method of implementation and its total amount . the work programmes shall also contain a description of the actions to be financed , an indication of the amount allocated to each action , an indication of the distribution of funds between the participating countries for the actions to be managed through the national agencies and an indicative implementation timetable . ### in order to implement this regulation , the commission shall adopt work programmes by way of implementing acts . each work programme shall ensure that the general and specific objectives set out in articles 3 and 4 are implemented in a consistent manner and shall outline the expected results , the method of implementation and its total amount . the work programmes shall also contain a description of the actions to be financed , including joint actions at cross - border level , an indication of the amount allocated to each action , an indication of the distribution of funds between the participating countries for the actions to be managed through the national agencies and an indicative implementation timetable .


### to facilitate prevention , information exchange and ex - post evaluation of electricity crises , member states should designate one competent authority as a contact point . this may be an existing or new entity . ### security of supply is a shared responsibility of many actors , each of which has clearly a defined role to play in the management of electricity systems . distribution systems operators and transmission system operators play a key role in ensuring a secure , reliable and efficient electricity system in accordance with articles 31 and 40 of directive . . . / . . . of the european parliament and of the council [ proposed electricity directive , cod 2016 / 380 ] . the regulatory authorities and other relevant national authorities also play an important role in ensuring and monitoring the security of electricity supply , as part of their tasks attributed by article 59 of directive . . . / . . . [ proposed electricity directive ] . with the aim to ensuring a timely implementation of this regulation and a transparent and inclusive involvement of all actors in the tasks to be carried out in accordance with this regulation , including the preparation of the risk preparedness plans and the regional agreements , member states should designate one competent authority . this may be an existing or new entity .


### a common approach to crisis prevention and management requires , above all , that member states use the same methods and definitions to identify risks relating to the security of electricity supply and are in a position effectively to compare how well they and their neighbours perform in that area . the regulation identifies two indicators to monitor the security of electricity supply in the union : ' expected energy non served ' , expressed in gwh / year , and ' loss of load expectation ' , expressed in hours / year . these indicators are part of the european resource adequacy assessment carried out by the european network of transmission system operators for electricity , pursuant to [ article 19 of the proposed electricity regulation ] . the electricity coordination group shall carry out regular monitoring of the security of supply based on the results of these indicators . the agency for the cooperation of energy regulators should also use these indicators , when reporting on member states ' performance in the area of security of supply in its annual electricity market monitoring reports , pursuant to [ article 16 of the proposed acer regulation ] . ### there is also a need for member states to use the same methods and definitions to identify risks relating to the security of electricity supply and are in a position effectively to compare how well they and their neighbours perform in that area . the regulation identifies two indicators to monitor the security of electricity supply in the union : ' expected energy non served ' , expressed in gwh / year , and ' loss of load expectation ' , expressed in hours / year . these indicators are part of the european resource adequacy assessment carried out by the european network of transmission system operators for electricity , pursuant to [ article 19 of the proposed electricity regulation ] . the electricity coordination group shall carry out regular monitoring of the security of supply based on the results of these indicators . the agency for the cooperation of energy regulators should also use these indicators , when reporting on member states ' performance in the area of security of supply in its annual electricity market monitoring reports , pursuant to [ article 16 of the proposed acer regulation ] .


### by [ opoce to insert exact date : two months after entry into force of this regulation ] , entso - e shall submit to the agency a proposal for a methodology for assessing short - term adequacy , namely seasonal adequacy as well as week - ahead to intraday adequacy , which shall cover at least the following : ### by . . . [ opoce to insert exact date : four months after entry into force of this regulation ] , entso - e shall submit to the agency a proposal for a methodology for assessing short - term adequacy , namely seasonal adequacy as well as week - ahead to intraday adequacy , which shall cover at least the following :


### the probability of the occurrence of a critical situation ; ### the probability of the occurrence of an electricity crisis ;


### all short - term adequacy assessments shall be carried out according to the methodology developed pursuant to article 8 . ### all short - term adequacy assessments , whether carried out at national , regional or union level , shall be carried out according to the methodology developed pursuant to article 8 .


### the regional measures to be included in the plan shall be agreed by the competent authorities of the member states in the region concerned . at least eight months before the deadline for the adoption or the updating of the plan , the competent authorities shall report on the agreements reached to the electricity coordination group . if the competent authorities concerned were not able to reach an agreement , they shall inform the commission of the reasons for such disagreement . in such case the commission may request the agency to facilitate the conclusion of an agreement in consultation with entso - e . ### the regional measures to be included in the plan shall be agreed by the competent authorities of the member states in the region concerned . the commission may have a facilitating role overall in the preparation of the agreement on regionally coordinated measures . the commission may request the agency and entso - e to provide technical assistance to the member states concerned with the view to facilitating an agreement . at least eight months before the deadline for the adoption or the updating of the plan , the competent authorities shall report on the agreements reached to the electricity coordination group . if the competent authorities concerned were not able to reach an agreement , they shall inform the commission of the reasons for such disagreement . in such a case the commission shall propose a cooperation mechanism for the conclusion of an agreement on regional measures .


### in cooperation with the regional operational centres and with the involvement of relevant stakeholders , the competent authorities of each region shall carry out annual crisis simulations , in particular testing the communication mechanisms referred to in point of paragraph 1 . ### in cooperation with the regional operational centres and with the involvement of relevant stakeholders , the competent authorities of each region shall carry out annual real time response simulations of electricity crisis situations , in particular testing the communication mechanisms referred to in point of paragraph 1 .


### where necessary and possible member states shall offer each other assistance to prevent or mitigate an electricity crisis . such assistance shall be subject to compensation . ### where necessary and technically possible member states shall offer each other assistance to prevent or mitigate an electricity crisis . such assistance shall be subject to a compensation mechanism defined ex ante .


### describe agreed measures to be used in simultaneous crisis situations , including the prioritisation of customers and regional load - shedding plans as well as financial arrangements for assistance in order to prevent or mitigate an electricity crisis . when describing such arrangements include elements such as a definition of a trigger of the assistance , calculation formula or amount , paying and receiving parties and the rules for arbitration . specify when and how the regional load shedding plans shall be triggered ; ### describe agreed measures to be used in simultaneous crises , including the prioritisation of customers and regional load - shedding plans as well as financial arrangements for assistance in order to prevent or mitigate an electricity crisis . when describing such arrangements include elements such as a definition of a trigger of the assistance , calculation formula or amount , paying and receiving parties and the rules for arbitration . specify when and how the regional load shedding plans shall be triggered ;


### the purpose of the efsi should be to help resolve the difficulties in financing and implementing productive investments in the union and to ensure increased access to financing . it is intended that increased access to financing should be of particular benefit to small and medium enterprises . it is also appropriate to extend the benefit of such increased access to financing to mid - cap companies , which are companies having up to 3000 employees . overcoming europe ' s current investment difficulties should contribute to strengthening the union ' s economic , social and territorial cohesion . ### the purpose of the efsi should be to help resolve the difficulties in financing and implementing productive investments in the union and to ensure increased and fair access to financing . it is intended that increased access to financing should be of particular benefit to small and medium enterprises . overcoming europe ' s current investment difficulties should contribute to strengthening the union ' s economic , social and territorial cohesion .


### the efsi should support strategic investments with high economic value added contributing to achieving union policy objectives . ### the efsi should support strategic investments or operations between a member state and a country falling within the scope of the european neighbourhood policy including the strategic partnership , the enlargement policy , and the european economic area or the european free trade association , or investments implementing the eu macro - regional strategies and operations between a member state and an overseas country or territory , as set out in annex ii of the treaty on the functioning of the european union . the investments should guarantee high economic and social added value , promoting quality jobs , sustainable innovation , skills and high quality employment , integrating and completing the single market , boosting the competitiveness of the eu . these strategic projects should benefit from positive externalities created by public investment and european structural and investment funds in order to achieve union policy objectives .


### the efsi should target projects with a higher risk - return profile than existing eib and union instruments to ensure additionality over existing operations . the efsi should finance projects across the union , including in the countries most affected by the financial crisis . the efsi should only be used where financing is not available from other sources on reasonable terms . ### the efsi should target projects with a higher risk - return profile than those targeted by existing eib and union instruments to ensure additionality over existing operations . the efsi should finance projects across the union , including in the countries most affected by the financial crisis . the efsi should only be used where financing is not available from other sources on reasonable terms .


### the efsi should target investments that are expected to be economically and technically viable , which may entail a degree of appropriate risk , whilst still meeting the particular requirements for efsi financing . ### the efsi should target investments that are expected to be economically , environmentally and technically viable , which may entail a degree of appropriate risk , whilst still meeting the particular requirements for efsi financing .


### at the level of projects , third parties may co - finance together with efsi on a project - by - project basis or in investment platforms related to specific geographic or thematic sectors . ### at the level of projects , third parties may co - finance together with efsi on a project - by - project basis or in investment platforms which can relate to specific geographic or thematic sectors .


### given the need for urgent action within the union , the eib and the eif may have financed additional projects , outside of their usual profile , in the course of 2015 before the entry into force of this regulation . in order to maximise the benefit of the measures provided for in this regulation , it should be possible for such additional projects to be included within the eu guarantee coverage in the event that they fulfil the substantive criteria set out in this regulation . ### given the need for urgent action within the union , the eib and the eif may have financed additional projects , outside of their usual profile , in the course of 2015 before the entry into force of this regulation . in order to maximise the benefit of the measures provided for in this regulation , it should be possible for such additional projects to be included ex post within the eu guarantee coverage in the event that they fulfil the substantive criteria set out in this regulation .


### given the need for urgent action within the union , the eib and the eif may have financed additional projects , outside of their usual profile , in the course of 2015 before the entry into force of this regulation . in order to maximise the benefit of the measures provided for in this regulation , it should be possible for such additional projects to be included within the eu guarantee coverage in the event that they fulfil the substantive criteria set out in this regulation . ### given the need for urgent action within the union , the eib and the eif may have financed additional projects , outside of their usual profile , in the course of 2015 before the entry into force of this regulation . in order to maximise the benefit of the measures provided for in this regulation , it should be possible for such additional projects to be included within the eu guarantee coverage in the event that they fulfil the substantive criteria set out in this regulation and that they present a higher risk - return profile than those targeted by the eib to ensure additionality over existing operation .


### in order to cover the risks related to the eu guarantee to the eib , a guarantee fund should be established . the guarantee fund should be constituted by a gradual payment from the union budget . the guarantee fund should subsequently also receive revenues and repayments from projects that benefit from efsi support and amounts recovered from defaulting debtors where the guarantee fund has already honoured the guarantee to the eib . ### in order to cover the risks related to the eu guarantee to the eib , a guarantee fund should be established . the guarantee fund should be constituted by a gradual payment from the union budget . the guarantee fund should subsequently also receive revenues and repayments from projects that benefit from efsi support , returns on guarantee fund resources invested and amounts recovered from defaulting debtors where the guarantee fund has already honoured the guarantee to the eib .


### in order to cover the risks related to the eu guarantee to the eib , a guarantee fund should be established . the guarantee fund should be constituted by a gradual payment from the union budget . the guarantee fund should subsequently also receive revenues and repayments from projects that benefit from efsi support and amounts recovered from defaulting debtors where the guarantee fund has already honoured the guarantee to the eib . ### in order to cover the risks related to the eu guarantee to the eib , a guarantee fund should be established . the guarantee fund should be constituted by a gradual payment from the union budget . revenues and repayments from projects that benefit from efsi support and amounts recovered from defaulting debtors where the guarantee fund has already honoured the guarantee to the eib should be used to fund rail infrastructure grants in accordance with regulations nos 1316 / 2013 and 1315 / 2013 .


### although the projects identified under the project pipeline may be used by the eib in the identification and selection of efsi supported projects , the project pipeline should have a broader scope of identifying projects across the union . this scope may include projects that are capable of being fully financed by the private sector or with the assistance of other instruments provided at european or national level . the efsi should be able to support financing and investment to projects identified by the project pipeline , but there should be no automaticity between inclusion on the list and access to efsi support and the efsi be conferred with discretion to select and support projects that are not included on the list . ### although the projects identified under the project pipeline may be used in the identification and selection of efsi supported projects , the project pipeline should have a broader scope of identifying projects across the union . this scope may include projects that are capable of being fully financed by the private sector or with the assistance of other instruments provided at european or national level . the efsi should be able to support financing and investment to projects identified by the project pipeline , but there should be no automaticity between inclusion on the list and access to efsi support and the efsi be conferred with discretion to select and support projects that are not included on the list .


### although the projects identified under the project pipeline may be used by the eib in the identification and selection of efsi supported projects , the project pipeline should have a broader scope of identifying projects across the union . this scope may include projects that are capable of being fully financed by the private sector or with the assistance of other instruments provided at european or national level . the efsi should be able to support financing and investment to projects identified by the project pipeline , but there should be no automaticity between inclusion on the list and access to efsi support and the efsi be conferred with discretion to select and support projects that are not included on the list . ### although the projects identified under the project pipeline may be used by the eib in the identification and selection of efsi supported projects , the project pipeline should ensure sectorial and geographical diversification and have a broader scope of identifying projects across the union . this scope may include projects that are capable of being fully financed by the private sector or with the assistance of other instruments provided at european or national level . the efsi should be able to support financing and investment to projects identified by the project pipeline , but there should be no automaticity between inclusion on the list and access to efsi support and the efsi be conferred with discretion to select and support projects that are not included on the list .


### to ensure accountability to european citizens , the eib should regularly report to the european parliament and the council on the progress and impact of the efsi . ### to ensure accountability to european citizens , the commission and the eib should regularly report to the european parliament and the council on the progress and impact of the efsi .


### to ensure accountability to european citizens , the eib should regularly report to the european parliament and the council on the progress and impact of the efsi . ### to ensure accountability to european citizens , the eib , the chairperson of the efsi steering group and the managing director of the efsi investment committee should regularly report to the european parliament and the council on the progress and impact of the efsi .


### the purpose of the efsi shall be to support investments in the union and to ensure increased access to financing for companies having up to 3000 employees , with a particular focus on small and medium enterprises , through the supply of risk bearing capacity to the eib . ### the purpose of the efsi shall be to support investments in the union and to ensure increased and fair access to financing for all companies , with a particular focus on small and medium enterprises , through the supply of risk bearing capacity to the eib .


### the purpose of the efsi shall be to support investments in the union and to ensure increased access to financing for companies having up to 3000 employees , with a particular focus on small and medium enterprises , through the supply of risk bearing capacity to the eib . ### the purpose of the efsi shall be to support strategic investments in the union such as transport infrastructure . efsi shall furthermore ensure increased access to financing for companies having up to 3000 employees , with a particular focus on small and medium enterprises , through the supply of risk bearing capacity to the eib .


### the amount and terms of the financial contribution which shall be provided by the eib through the efsi ; ### the amount and terms of the financial contribution which shall be provided by the eib through the efsi and which shall not be inferior to 5 000 000 000 euros of guarantee ;


### for as long as the only contributors to the efsi are the union and the eib , the number of members and votes within the steering board shall be allocated based on the respective size of contributions in the form of cash or guarantees . ### for as long as the only contributors to the efsi are the union and the eib , the steering board shall comprise at least five members : three appointed by the commission , one by the eib , the european parliament should also be represented as it is the budgetary authority . the number of members and votes within the steering board shall be allocated based on the respective size of contributions in the form of cash or guarantees .


### for as long as the only contributors to the efsi are the union and the eib , the number of members and votes within the steering board shall be allocated based on the respective size of contributions in the form of cash or guarantees . ### for as long as the only contributors to the efsi are the union and the eib , the steering committee shall consist of five members of which four should be appointed by the european commission and one by the eib . the steering board shall elect a chairperson from among its members for a renewable fixed term of three years .


### the investment committee shall be composed of six independent experts and the managing director . independent experts shall have a high level of relevant market experience in project finance and be appointed by the steering board for a renewable fixed term of three years . ### the investment committee shall be composed of six independent experts and the managing director and a representative of the european commission . the representative of the european commission shall have no voting power but shall confirm the consistency of potential operations with union policies . independent experts shall have a high level of relevant market experience in project finance as well as in the investment areas concerned by the efsi as defined in article 5 , paragraph 2 , and be appointed by the steering board for a renewable fixed term of three years . their recruitment follows a transparent procedure and their declaration of financial interests is transmitted to the commission , the european parliament and the council .


### decisions of the investment committee shall be taken by simple majority . ### decisions of the investment committee shall be taken by simple majority and approved by the steering board .


### the efsi agreement shall provide that the efsi shall have an investment committee , which shall be responsible for examining potential operations in line with the efsi investment policies and approving the support of the eu guarantee for operations in line with article 5 , irrespective of their geographic location . ### the efsi agreement shall provide that the efsi shall have an investment committee , which shall be responsible for examining potential operations in line with the efsi investment policies and approving the support of the eu guarantee for operations : 1 . in line with article 5 2 . in line with the overall objectives of regulation no 1316 / 2013 and regulation no 1315 / 2013 as well as the ten - t annual work programmes 3 . with a proven economic , societal and sustainable added value regarding the promotion of jobs , skills , innovation and competiveness in the european union , which could not have been carried out with existing eu funds and instruments . 4 . irrespective of their geographic location


### the investment committee shall be composed of six independent experts and the managing director . independent experts shall have a high level of relevant market experience in project finance and be appointed by the steering board for a renewable fixed term of three years . ### the investment committee shall be composed of six independent experts . independent experts must have a high level of relevant market experience in project finance and will be selected by the steering board . the six experts shall be appointed by the european parliament , after an appropriate hearing by the competent committees of the ep for a renewable fixed term of three years .


### the union shall provide a guarantee to the eib for financing or investment operations carried out within the union covered by this regulation . the eu guarantee shall be granted as a guarantee on demand in respect of instruments referred to in article 6 . ### the union shall provide an irrevocable and unconditional guarantee for financing or investment operations carried out within the union , or operations between a member state and a country falling within the scope of the european neighbourhood policy including the strategic partnership , the enlargement policy , and the european economic area or the european free trade association , or investments implementing the eu macro - regional strategies and operations between a member state and an overseas country or territory , as set out in annex ii of the treaty on the functioning of the european union , covered by this regulation . the eu guarantee shall be granted as a guarantee on demand in respect of instruments referred to in article 6 .


### the eu guarantee shall be granted for eib financing and investment operations approved by the investment committee referred to in article 3 or funding to the eif in order to conduct eib financing and investment operations in accordance with article 7 . the operations concerned shall be consistent with union policies and support any of the following general objectives : ### the eu guarantee shall be granted , provided that the steering board approves it , for eib financing and investment operations approved by the investment committee referred to in article 3 or funding to the eif in order to conduct eib financing and investment operations in accordance with article 7 . the operations concerned shall be consistent with union policies and support any of the following general objectives :


### in accordance with article 17 of the statute of the european investment bank , the eib shall charge the beneficiaries of the financing operations to cover its expenses related to the efsi . without prejudice to sub - paragraph 2 and 3 , no administrative expenditure or any other fees of the eib for financing and investment activities conducted by the eib under this regulation shall be covered from the union budget . ### in accordance with article 17 of the statute of the european investment bank , the eib shall charge the beneficiaries of the financing operations to cover its expenses related to the efsi . under no circumstances the fees to be paid by beneficiaries to the eib shall exceed 3% of the efsi support effectively used for individual operations . without prejudice to sub - paragraph 2 and 3 , no administrative expenditure or any other fees of the eib for financing and investment activities conducted by the eib under this regulation shall be covered from the union budget or guarantee .


### provided that all relevant eligibility criteria are fulfilled , member states may use european structural and investment funds to contribute to the financing of eligible projects in which the eib is investing with the support of the eu guarantee . ### provided that all relevant eligibility criteria are fulfilled , member states may use european structural and investment funds or financial support granted by any eu programmes to contribute to the financing of eligible projects in which the eib is investing with the support of the eu guarantee .


### endowments to the guarantee fund provided for in points and of paragraph 2 shall constitute internal assigned revenues in accordance with article 21 of regulation no 966 / 2012 . ### guarantee fund returns , any surpluses and amounts recovered from defaulting debtors in accordance with the recovery procedure laid down in the efsi agreement as provided for in article 2 shall constitute assigned revenues to fund rail infrastructure grants in accordance with regulations nos 1316 / 2013 and 1315 / 2013 .


### the target amount shall initially be met by the gradual payment of resources referred to in paragraph 2 . if there have been calls on the guarantee during the initial constitution of the guarantee fund , endowments to the guarantee fund provided for in points , and of paragraph 2 shall also contribute to meet the target amount up to an amount equal to the calls on the guarantee . ### the target amount shall initially be met by the gradual mobilisation of resources referred to in paragraph 2 . if there have been calls on the guarantee during the initial constitution of the guarantee fund , endowments to the guarantee fund provided for in points , and of paragraph 2 shall also contribute to meet the target amount up to an amount equal to the calls on the guarantee .


### the commission and the eib , with support from the member states , shall promote the creation of a transparent pipeline of current and potential future investment projects in the union . the pipeline is without prejudice to the final projects selected for support according to article 3 . ### the commission and the eib , with support from the member states , shall promote the creation of a transparent pipeline of current and potential future investment projects in the union . the pipeline is without prejudice to the final projects selected for support according to article 3 . in the transport sector , the pipeline should take as a basis the priorities and projects identified in regulations ten - t 1515 / 2013 and connecting europe facility 1516 / 2013 .


### the commission and the eib shall develop , update and disseminate , on a regular and structured basis , information on current and future investments which significantly contribute to achieving eu policy objectives . ### the commission and the eib shall develop , update and disseminate , on a regular , transparent and structured basis , information on current and future investments which significantly contribute to achieving eu policy objectives .


### the commission and the eib shall develop , update and disseminate , on a regular and structured basis , information on current and future investments which significantly contribute to achieving eu policy objectives . ### the commission and the eib shall develop , update and disseminate , on a regular and structured basis , information on current and future investments which significantly contribute to achieving eu policy objectives . in the transport sector , the priorities shall be those specified in regulation no 1315 / 2013 and 1316 / 2013 .


### member states shall develop , update and disseminate , on a regular and structured basis , information on current and future investment projects in their territory . ### member states shall develop , update and disseminate , on a regular , transparent and structured basis , information on current and future investment projects in their territory .


### at the request of the european parliament , the commission shall report to the european parliament on the application of this regulation . ### at the request of the european parliament and at least once a year , the commission shall report to the european parliament on the application of this regulation .


### in order to promote equity investment throughout the union and the exercise of rights related to shares , this directive should prevent price discrimination of cross - border as opposed to purely domestic share holdings by means of better disclosure of prices , fees and charges of services provided by intermediaries . third country intermediaries which have established a branch in the union should be subject to the rules on shareholder identification , transmission of information , facilitation of shareholder rights and transparency of prices , fee and charges to ensure effective application of the provisions on shares held via such intermediaries ; ### in order to promote equity investment throughout the union and the exercise of rights related to shares , this directive should demand that all prices , fees and other charges of services provided by intermediaries are transparent , non - discriminatory and proportional . any variation in the charges levied between different service users should reflect a variation in actual costs incurred for delivering the services . in order to safeguard the integrity and functioning of the internal market , charges should not be differentiated on the basis of nationality . third country intermediaries which have established a branch in the union should be subject to the rules on shareholder identification , transmission of information , facilitation of shareholder rights and transparency of prices , fee and charges to ensure effective application of the provisions on shares held via such intermediaries ;


### institutional investors and asset managers are important shareholders of listed companies in the union and therefore can play an important role in the corporate governance of these companies , but also more generally with regard to the strategy and long - term performance of these companies . however , the experience of the last years has shown that institutional investors and asset managers often do not engage with companies in which they hold shares and evidence shows that capital markets exert pressure on companies to perform in the short term , which may lead to a suboptimal level of investments , for example in research and development to the detriment to long - term performance of both the companies and the investor . ### institutional investors and asset managers are important shareholders of listed companies in the union and therefore can play an important role in the corporate governance of these companies , but also more generally with regard to the strategy and long - term performance of these companies . however , the experience of the last years has shown that institutional investors and asset managers often do not engage with companies in which they hold shares and evidence shows that capital markets exert strong pressure on companies to perform primarily in the short term , which may lead to a suboptimal level of investments , for example in research and development , to the detriment of long - term performance of both the companies and the investor .


### institutional investors and asset managers are often not transparent about investment strategies and their engagement policy and the implementation thereof . public disclosure of such information could have a positive impact on investor awareness , enable ultimate beneficiaries such as future pensioners optimise investment decisions , facilitate the dialogue between companies and their shareholders , encourage shareholder engagement and strengthen companies’ accountability to civil society . ### institutional investors and asset managers are often not transparent about their engagement policies , their investment strategies and the implementation and results thereof . public disclosure of such information would , in various ways , have a positive impact on investor awareness , enable ultimate beneficiaries such as future pensioners optimise investment decisions , facilitate the dialogue between companies and their shareholders , encourage shareholder engagement and strengthen companies’ accountability to civil society .