natgillin/translations-raw huggingface dataset:
Under the Statute, the Bank may have maximum loans outstanding equivalent to two and half times its capital.
Under the Statute, the Bank may have maximum loans outstanding equivalent to two and half times its capital.
Apparently the EIB is not favourable to lower the budget contribution to these combined instruments and programmes (critical mass).
Apparently the EIB is not favourable to lower the budget contribution to these combined instruments and programmes (critical mass).
A reduced amount could go again the concepts of EIB's instruments and possibly loose the leverage effect of scarce budget resources towards the EIB borrowing and lending capacities.
A reduced amount could go again the concepts of EIB's instruments and possibly loose the leverage effect of scarce budget resources towards the EIB borrowing and lending capacities.
EU budget contributions and EIB own resources: areas of complementarity
EU budget contributions and EIB own resources: areas of complementarity
The EIB group (European Investment Bank and European Investment Fund) is strongly committed to providing sustained support for (i) the Lisbon Strategy, (2) the Action for Growth Initiative for TENs and (3) the development of SMEs, in the form of long-term EIB loans as well as of venture capital and guarantees from the EIF.
The EIB group (European Investment Bank and European Investment Fund) is strongly committed to providing sustained support for (i) the Lisbon Strategy, (2) the Action for Growth Initiative for TENs and (3) the development of SMEs, in the form of long-term EIB loans as well as of venture capital and guarantees from the EIF.
Three new financial instruments
Three new financial instruments
RSFF, CIP Financial Instrument, EU Loan Guarantee Instrument for TENs are being proposed to reinforce this sustained support by combining EU budget resources with EIB reserves to leverage private capital funds from the market.
RSFF, CIP Financial Instrument, EU Loan Guarantee Instrument for TENs are being proposed to reinforce this sustained support by combining EU budget resources with EIB reserves to leverage private capital funds from the market.
2.1 R&D, Innovation and Competitiveness
2.1 R&D, Innovation and Competitiveness
The Bank sees research investment as very important, especially taking into account the fact that Europe spends considerably less on R&D than the United States or Japan.
The Bank sees research investment as very important, especially taking into account the fact that Europe spends considerably less on R&D than the United States or Japan.
The EIB's contribution to the Lisbon agenda is embodied in its Innovation 2010 Initiative (i2i) programme.
The EIB's contribution to the Lisbon agenda is embodied in its Innovation 2010 Initiative (i2i) programme.
Until now (2000-2005), the EIB signatures under the i2i programme amounted to ca.
Until now (2000-2005), the EIB signatures under the i2i programme amounted to ca.
EUR 35 billion of which EUR 10.7 billion in 2005.The Bank could increase the current i2i target amount until 2010 of EUR 50 billion to EUR 65 billion and up to EUR 100 billion by 2013.
EUR 35 billion of which EUR 10.7 billion in 2005.The Bank could increase the current i2i target amount until 2010 of EUR 50 billion to EUR 65 billion and up to EUR 100 billion by 2013.
2.1.1 RSFF (Risk Sharing Finance Facility)
2.1.1 RSFF (Risk Sharing Finance Facility)
The Competitiveness Council approved RSFF in favour of reinforcing higher risk operations, to be provisioned by up to EUR 1 billion from the EU Budget and a matching amount by EIB own reserves.
The Competitiveness Council approved RSFF in favour of reinforcing higher risk operations, to be provisioned by up to EUR 1 billion from the EU Budget and a matching amount by EIB own reserves.
The Bank is ready to mobilize an amount equivalent to the EU budget allocation; however until now, there is no multi-annual commitment of budgetary funds to the RSFF scheme in the Commission’s proposal.
The Bank is ready to mobilize an amount equivalent to the EU budget allocation; however until now, there is no multi-annual commitment of budgetary funds to the RSFF scheme in the Commission’s proposal.
The EIB has made it clear that such a multi-annual commitment was a condition sine qua non for its intervention to be operationally feasible.
The EIB has made it clear that such a multi-annual commitment was a condition sine qua non for its intervention to be operationally feasible.
In such case, and only in such case, EIB could even help alleviating the budget constraint of the earlier years by front-loading its own participation.
In such case, and only in such case, EIB could even help alleviating the budget constraint of the earlier years by front-loading its own participation.
2.1.2 SFF (Structured Finance Facility)
2.1.2 SFF (Structured Finance Facility)
Based on previous experience the Bank could set up a Structured Finance Facility (SFF) with its own funds (EUR 500 million) to support riskier operations, within the Innovation Initiative (i2i). in the area of R&D.
Based on previous experience the Bank could set up a Structured Finance Facility (SFF) with its own funds (EUR 500 million) to support riskier operations, within the Innovation Initiative (i2i). in the area of R&D.
2.2 SMEs
2.2 SMEs
The Bank has long experience with SMEs financing in joint actions with the European Commission.
The Bank has long experience with SMEs financing in joint actions with the European Commission.
The EIB/EIF representatives could confirm that an EIF capital increase of 50% from EUR 2 to 3 billion is being prepared to support the developments in favour of SMEs.
The EIB/EIF representatives could confirm that an EIF capital increase of 50% from EUR 2 to 3 billion is being prepared to support the developments in favour of SMEs.
2.2.1 CIP Financial Instrument (Competitiveness and Innovation Programme)
2.2.1 CIP Financial Instrument (Competitiveness and Innovation Programme)
CIP is a successor to MAP, the EU's support scheme for SMEs.
CIP is a successor to MAP, the EU's support scheme for SMEs.
The December 2005 European Council's decision on the financial perspectives does not include specific provision guaranteeing the CIP budget, notably the initial proposals of EUR 1 billion for the financial instruments to be administered under mandate by EIF.
The December 2005 European Council's decision on the financial perspectives does not include specific provision guaranteeing the CIP budget, notably the initial proposals of EUR 1 billion for the financial instruments to be administered under mandate by EIF.
A funding of EUR 1 billion would represent the critical mass to ensure a successful implementation of the programme and allow EIF to leverage at least EUR 15 billion of guarantees and venture capital in favour of SMEs, especially high growth and technology driven ones.
A funding of EUR 1 billion would represent the critical mass to ensure a successful implementation of the programme and allow EIF to leverage at least EUR 15 billion of guarantees and venture capital in favour of SMEs, especially high growth and technology driven ones.
The extension of CIP to the financing technology transfer activities (eg: pre-seed and seed) is also being envisaged to bridge the gap between research and industry.
The extension of CIP to the financing technology transfer activities (eg: pre-seed and seed) is also being envisaged to bridge the gap between research and industry.
JEREMIE is a joint initiative between Commission and the European Investment Bank and the European Investment Fund in order to promote increased access to finance through ERDF funding, for the development of micro, small and medium-sized enterprises in the regions of the EU.
JEREMIE is a joint initiative between Commission and the European Investment Bank and the European Investment Fund in order to promote increased access to finance through ERDF funding, for the development of micro, small and medium-sized enterprises in the regions of the EU.
Member States and programming authorities will thus have the option to use part of their structural funds to leverage financial instruments for SMEs through financial engineering.
Member States and programming authorities will thus have the option to use part of their structural funds to leverage financial instruments for SMEs through financial engineering.
No specific budgetary decision is required for JEREMIE.
No specific budgetary decision is required for JEREMIE.
2.2.3 SME Finance Facility
2.2.3 SME Finance Facility
In April 1999, the European Commission launch the SME Finance Facility for micro, small and medium-sized enterprises operating in the EU Accession countries of central and eastern Europe.
In April 1999, the European Commission launch the SME Finance Facility for micro, small and medium-sized enterprises operating in the EU Accession countries of central and eastern Europe.
The SME Finance Facility, which is channelled through the EBRD, the EIB and CEB/KfW
The SME Finance Facility, which is channelled through the EBRD, the EIB and CEB/KfW
CEB/KfW : Council of Europe Development Bank/ Kreditanstalt für Wiederaufbau , provides capital to SMEs through loans to local banks, leasing companies and investments in private equity funds.
CEB/KfW : Council of Europe Development Bank/ Kreditanstalt für Wiederaufbau , provides capital to SMEs through loans to local banks, leasing companies and investments in private equity funds.
The facility is currently operational in Bulgaria, the Czech Republic, Estonia, Hungary, Latvia, Lithuania, Poland, Romania, Slovakia, Slovenia and Turkey.
The facility is currently operational in Bulgaria, the Czech Republic, Estonia, Hungary, Latvia, Lithuania, Poland, Romania, Slovakia, Slovenia and Turkey.
The financial intermediaries in the candidate countries participating in this programme must be committed to develop SME operation as a significant part of their business.
The financial intermediaries in the candidate countries participating in this programme must be committed to develop SME operation as a significant part of their business.
2.3 Large-scale infrastructure investment
2.3 Large-scale infrastructure investment
Since December 2003 within the Action for Growth initiative, a new impetus has been given to TENs financing by EIB under the name of TEN Finance Facility (TIF).
Since December 2003 within the Action for Growth initiative, a new impetus has been given to TENs financing by EIB under the name of TEN Finance Facility (TIF).
The Bank is proposing to increase the current lending target of TIF from EUR 50 billion until 2010 to EUR 75 billion until 2013.
The Bank is proposing to increase the current lending target of TIF from EUR 50 billion until 2010 to EUR 75 billion until 2013.
2.3.1 EU Loan Guarantee Instrument for TENs
2.3.1 EU Loan Guarantee Instrument for TENs
A new joint proposal has been made by the Commission and EIB for a Community limited guarantee instrument for TEN-Transport projects.
A new joint proposal has been made by the Commission and EIB for a Community limited guarantee instrument for TEN-Transport projects.
This scheme targets a very specific requirement, limited in time, to allow the development of Priority Pilot Projects (PPP) schemes for TEN-Transport projects.
This scheme targets a very specific requirement, limited in time, to allow the development of Priority Pilot Projects (PPP) schemes for TEN-Transport projects.
An amount of probably 500 mio EUR would be allocated from the TENs envelope and topped up with a similar amount from the EIB's own reserves making a total of 1 billion EUR.
An amount of probably 500 mio EUR would be allocated from the TENs envelope and topped up with a similar amount from the EIB's own reserves making a total of 1 billion EUR.
Such a scheme would permit a significant leverage effect and would mobilise up to 20 times (i.e. some 20 billion EUR) in the form of long-term senior bank loans.
Such a scheme would permit a significant leverage effect and would mobilise up to 20 times (i.e. some 20 billion EUR) in the form of long-term senior bank loans.
JASPERS is a partnership between the Commission (DG REGIO), the EIB and the EBRD for a technical assistance facility that stands at the disposal of the beneficiary Member States at no cost to them.
JASPERS is a partnership between the Commission (DG REGIO), the EIB and the EBRD for a technical assistance facility that stands at the disposal of the beneficiary Member States at no cost to them.
The implementation and financing of the corresponding projects could generate a significant contribution to economic and social cohesion, notably in the new Member States.
The implementation and financing of the corresponding projects could generate a significant contribution to economic and social cohesion, notably in the new Member States.
No EU budget decision is required for JASPERS.
No EU budget decision is required for JASPERS.
Galileo joint undertaking (GJU)
Galileo joint undertaking (GJU)
The EIB is involved in the advisory work for the Galileo joint undertaking.
The EIB is involved in the advisory work for the Galileo joint undertaking.
The EIB could be interested to play a more active role.
The EIB could be interested to play a more active role.
In the context of the negotiations on the next financial perspective and the possible contribution of EIB-EIF funds to the EU budget, the rapporteur wishes to make the following:
In the context of the negotiations on the next financial perspective and the possible contribution of EIB-EIF funds to the EU budget, the rapporteur wishes to make the following:
a) Financial instruments as full part of the Interinstitutional Agreement
a) Financial instruments as full part of the Interinstitutional Agreement
As mentioned in his working documents n° 3, 4 and 5, the rapporteur proposes to include this new type of co-financing into the next IIA.
As mentioned in his working documents n° 3, 4 and 5, the rapporteur proposes to include this new type of co-financing into the next IIA.
In its working document COM(2006) 75 final "Contribution to the interinstitutional negotiations on the Proposal for renewal of the Interinstitutional Agreement on budgetary discipline and improvement of the budgetary procedure", the Commission has taken on board the European Parliament's requests as follows:
In its working document COM(2006) 75 final "Contribution to the interinstitutional negotiations on the Proposal for renewal of the Interinstitutional Agreement on budgetary discipline and improvement of the budgetary procedure", the Commission has taken on board the European Parliament's requests as follows:
The European Parliament, the Council and the Commission agree that the introduction of co-financing mechanisms is necessary to reinforce the leverage effect of the EU budget by increasing the funding incentive.
The European Parliament, the Council and the Commission agree that the introduction of co-financing mechanisms is necessary to reinforce the leverage effect of the EU budget by increasing the funding incentive.
They agree to encourage all types of financial instruments acting as catalysts for public and private investors.
They agree to encourage all types of financial instruments acting as catalysts for public and private investors.
The objective is to increase up to EUR 10 billion the EIB's capacity for research and development loans in the period 2007-2013.
The objective is to increase up to EUR 10 billion the EIB's capacity for research and development loans in the period 2007-2013.
Moreover, the instruments in favour of Trans-European Networks, and Small and Medium-sized Enterprises are to be reinforced.
Moreover, the instruments in favour of Trans-European Networks, and Small and Medium-sized Enterprises are to be reinforced.
The Commission will make proposals, accordingly and will report back to the budgetary authority about the activities financed by the EIB, the EIF and the EBRD (relevant in the case of new Member States) to support investment in all those areas.
The Commission will make proposals, accordingly and will report back to the budgetary authority about the activities financed by the EIB, the EIF and the EBRD (relevant in the case of new Member States) to support investment in all those areas.
The Commission has endorsed the principle of modernisation of the Budget through co-financing by the EIB- EIF of activities related to the Lisbon strategy.
The Commission has endorsed the principle of modernisation of the Budget through co-financing by the EIB- EIF of activities related to the Lisbon strategy.
The reporting mechanism proposed by the Commission should be detailed in timing and content; it should provide a clear evaluation of the leverage effects in the areas pertaining to the negotiations.
The reporting mechanism proposed by the Commission should be detailed in timing and content; it should provide a clear evaluation of the leverage effects in the areas pertaining to the negotiations.
This mechanism should allow the Parliament to evaluate - once or twice per year - how EIB-EIF activities can complement a reduced ceiling for heading 1a.
This mechanism should allow the Parliament to evaluate - once or twice per year - how EIB-EIF activities can complement a reduced ceiling for heading 1a.
The formal proposals should be made before the end of the year 2006.
The formal proposals should be made before the end of the year 2006.
Since the EIB-EIF support is based on a combined effect of EIB and EU funding, could the EIB-EIF representatives explain what would be the consequences in terms of EIB loans and leverage effect of a reduction of the share of the EU budget under the different mechanisms (R&D, CIP, TENs), based on the Council's cuts.
Since the EIB-EIF support is based on a combined effect of EIB and EU funding, could the EIB-EIF representatives explain what would be the consequences in terms of EIB loans and leverage effect of a reduction of the share of the EU budget under the different mechanisms (R&D, CIP, TENs), based on the Council's cuts.
· EIB funding and EU resources should not be substitutable but complementary .
· EIB funding and EU resources should not be substitutable but complementary .
· The additionality of EIB funding with appropriations of EU budget should represent a way to maximise the support of the EU economy.
· The additionality of EIB funding with appropriations of EU budget should represent a way to maximise the support of the EU economy.
· The leverage effect should be quantifiable and visible for the citizens.
· The leverage effect should be quantifiable and visible for the citizens.
· The combinations of EIB-EIF support and EU funding could ensure better discipline in the selection of worthwhile projects.
· The combinations of EIB-EIF support and EU funding could ensure better discipline in the selection of worthwhile projects.
· In a context of good cooperation between the Institutions, the EIB-EIF financial mechanisms combined with EU funding should be transparent.
· In a context of good cooperation between the Institutions, the EIB-EIF financial mechanisms combined with EU funding should be transparent.
c) Possibility for the Union to meet the Lisbon objectives
c) Possibility for the Union to meet the Lisbon objectives
· The rapporteur is of the opinion that the development of new financial instruments could contribute to achieving the Lisbon goals, especially if the ceiling of heading 1a would be reduced.
· The rapporteur is of the opinion that the development of new financial instruments could contribute to achieving the Lisbon goals, especially if the ceiling of heading 1a would be reduced.
· Is the Committee ready to support the European Council conclusions through the mobilisation of EUR 1 billion from the envelope of the 7th Framework Programme on R&D?
· Is the Committee ready to support the European Council conclusions through the mobilisation of EUR 1 billion from the envelope of the 7th Framework Programme on R&D?
· Is the Committee ready to ask for further proposals of loans for other programmes such as TENs, SMEs and/or CIP?
· Is the Committee ready to ask for further proposals of loans for other programmes such as TENs, SMEs and/or CIP?
· If so what would be the amount necessary to attain a useful critical mass under those programmes?
· If so what would be the amount necessary to attain a useful critical mass under those programmes?
d) Short term incentive grants
d) Short term incentive grants
On the basis of the "Jeremie" programme the EIB should indicate what facilities it could offer to provide for short term incentive grants with a rapid leverage effect in view of a possible adjustment in the context of the mid-term review.
On the basis of the "Jeremie" programme the EIB should indicate what facilities it could offer to provide for short term incentive grants with a rapid leverage effect in view of a possible adjustment in the context of the mid-term review.
DARBO DOKUMENTAS Nr. 7 DĖL TARPINSTITUCINIO SUSITARIMO DĖL PATIKIMO FINANSŲ VALDYMO
WORKING DOCUMENT No 7 ON THE INTERINSTITUTIONAL AGREEMENT ON BUDGETARY DISCIPLINE AND SOUND FINANCIAL MANAGEMENT
Savo 2005 m. gruodžio 1 d. rezoliucijoje Europos Parlamentas paprašė Komisijos pateikti peržiūrėtą Tarpinstitucinio susitarimo projektą.
In its resolution of 1 December 2005, the European Parliament asked the Commission to present a revised proposal of the Interinstitutional Agreement.
2006 m. sausio 18 d. rezoliucijoje Europos Parlamentas išdėstė savo poziciją dėl Europos Vadovų Tarybos susitarimo ir atmetė jį tokios formuluotės, kokios jis buvo pateiktas.
In its resolution of 18 January 2006, the European Parliament adopted its position on the European Council's agreement and rejected it in its current form.
KOM(2006) 36 galutinis. .
COM(2006) 36 final .
Savo darbo dokumentuose Nr. 3, 4 ir 5 pranešėjas išdėstė savo nuomonę dėl to, kaip kitame Tarpinstituciniame susitarime turėtų atsispindėti 2005 m. birželio 8 d.
In his working documents n° 3, 4 and 5, the rapporteur has presented his views on how the qualitative elements of Parliament's negotiating position of 8 June 2005 should be reflected in the next IIA.
KOM(2006) 75. , parengtą Europos Parlamento prašymu.
COM(2006) 75 on the basis of the European Parliament's requests.
Kaip numatyta ir remdamasis institucijų ir techninio pobūdžio susitikimų rezultatais, pranešėjas čia pateikia savo pasiūlymus dėl būsimo Tarpinstitucinio susitarimo dėl patikimo finansų valdymo.
As envisaged and following a number of meetings held at institutional and at technical level, the rapporteur presents hereafter his proposals for the future Interinstitutional Agreement on Sound Financial Management.
Reikėtų peržiūrėti ir išplėsti Tarpinstitucinio susitarimo taikymo sritį.
The scope of the Interinstitutional Agreement should be updated and broadened.
Jis turėtų būti papildytas nauja III dalimi apie kokybines reformas, skirtas patobulinti ES biudžeto vykdymą.
It should include a new Part III focussing on qualitative reforms in view of improving the implementation of the EU budget.
· Pasiūlymai grindžiami šiais dviem dokumentais:
· The proposals are based on both
- peržiūrėta Tarpinstitucinio susitarimo versija 1 ,
- the revised version of the Interinstitutional Agreement 1
- darbo dokumentu „Indėlis į tarpinstitucines derybas dėl pasiūlymo atnaujinti Tarpinstitucinį susitarimą dėl biudžeto disciplinos ir biudžeto sudarymo procedūros tobulinimo“ 2 .
- the working document "Contribution to the interinstitutional negotiations on the proposal for renewal of the Interinstitutional Agreement on budgetary discipline and improvement of the budgetary procedure" 2
· Pasiūlymus sudaro:
· The proposals are composed of
- kiekvieno keičiamo / pildomo straipsnio paaiškinimai,
- an explanatory text for each article modified/added
- siūlomos Tarpinstitucinio susitarimo straipsnių formuluotės.
- a possible text for the IIA itself.
Tarpinstitucinis susitarimas dėl patikimo finansų valdymo
Interinstitutional Agreement on Sound Financial Management
I dalis Biudžeto disciplina, apibrėžimas ir įgyvendinimo nuostatos
Part I Budgetary Discipline, definition and the implementation provisions
II dalis Tarpinstitucinis bendradarbiavimas
Part II Interinstitutional cooperation