natgillin/translations-raw huggingface dataset:
The PBI facility provides a subordinated debt tranche to the financial structure of the project company.
Da se zagotovi najboljše razmerje med kakovostjo in ceno ter zaradi omejenih sredstev za širokopasovne povezave v okviru IPE bi moral biti dolžniški instrument IPE na voljo za projekte, ki se zanašajo na tehnologijo, najprimernejšo za specifični projekt, ki pomagajo spodbujati inovativne poslovne modele in imajo velik potencial za ponovljivost.
This facility may take the form of a contingent credit line (‘unfunded facility’) or a subordinated loan (‘funded facility’) and is capped at a maximum of 20 % of the total amount of senior debt.
Dolžniški instrument IPE bo zlasti obravnaval posebne potrebe primestnih, podeželskih, redko poseljenih in manj razvitih regij, ki jim je treba zagotoviti visokohitrostne povezave.
In case the unfunded facility is called upon, the EIB becomes a creditor to the project company and amounts due under the PBI would rank junior to the service of senior debt and senior to equity.
To zajema vzpostavitev širokopasovnih omrežij za povezavo otoških, neobalnih, goratih, oddaljenih in obrobnih regij, med drugim otoških držav članic, z osrednjimi regijami Unije in/ali ukrepe za večjo zanesljivost ali boljše delovanje povezav med takšnimi regijami in osrednjimi regijami Unije.
The maximum available amount for credit enhancement under PBI is 20 % of the nominal of the senior debt.
Kar zadeva prometni sektor, bi moral dolžniški instrument IPE v obdobju 2014–2020 povečati skupno raven naložb v prometno infrastrukturo v Uniji, v skladu s cilji politike in obsegom naložb, ki jih določata pravna podlaga in Uredba (EU) št. 1315/2013 Evropskega parlamenta in Sveta z dne 11. decembra 2013 o smernicah Unije za razvoj vseevropskega prometnega omrežja in razveljavitvi Sklepa št. 661/2010/EU (UL L 348, 20.12.2013, str.
The risk-sharing mechanism between the Commission and EIB operates on the basis of a first loss piece principle: the risk for the EU budget and the EIB is divided into two tranches, a portfolio first loss piece (PFLP), which is called upon first in the event of impairments on PBI operations, and a residual risk tranche (RRT) which is only used if PFLP has been exhausted.
1).
The Union and the EIB contribute 95 % and 5 % to PFLP, respectively.
Da se zagotovi dopolnjevanje med projekti, ki so podprti v okviru IPE in EFSI, je IPE usmerjen v spodbujanje projektov, ki so upravičeni v okviru ustreznih smernic TEN-T, vključno s spodbujanjem ključnih evropskih vodilnih pobud, kot so ERTMS, SESAR ter okolju prijaznejše ladjevje.
The residual risk tranche is covered entirely by the EIB.
Finančni parametri in finančni vzvod
Individual PBI operations could be approved by the EIB Board of Directors no later than end of 2014 and their financial close must take place no later than end of 2016.
Parametri delitve tveganja in prihodkov se določijo tako, da se lahko specifični cilji politik, vključno s ciljno naravnanostjo na posebne kategorije projektov, dosežejo, tudi če se ohrani tržno usmerjen značaj dolžniškega instrumenta.
The instrument will wind up when there is no more contingent exposure under any PBI operations (or where such exposure has been declared by the EIB as unrecoverable).
Pričakovani finančni vzvod dolžniškega instrumenta – opredeljen kot skupno financiranje (tj. prispevek Unije skupaj s prispevki iz drugih finančnih virov), deljeno s prispevkom Unije – bo v razponu od 6 do 15, odvisno od vrste dejavnosti (raven tveganja, ciljni upravičenci in zadevno dolžniško financiranje).
The independent evaluation of the PBI pilot phase was carried out and finalised in 2015.
Uredba (EU) št. 1293/2013 Evropskega parlamenta in Sveta z dne 11. decembra 2013 o vzpostavitvi programa za okolje in podnebne ukrepe (LIFE) in razveljavitvi Uredbe (ES) št. 614/2007 (UL L 347, 20.12.2013, str.
The pilot phase has a total financial envelope of EUR 230 million: EUR 200 million from the TEN-T budget, EUR 10 million from the TEN-E budget and EUR 20 million from the CIP ICT.
185), zlasti člen 17(1).
In application of Article 14(3) of Regulation (EU) No 1316/2013, the PBI is merged with the new CEF debt instrument for the period 2014-2020 as of 1 January 2016.
Člen 07 02 02 – Zaustavitev in sprememba trenda izgube biotske raznovrstnosti.
The PBI pilot phase was launched in November 2012 to test the concept.
Člen 34 02 02 – Krepitev odpornosti Unije na podnebne spremembe.
By the end of 2015, eight projects were signed with PBCE support, out of which three project bond transactions were credit enhanced by the EIB without contribution from the Union budget.
Iz finančnega mehanizma za naravni kapital (NCFF) se bodo financirali začetne naložbe in operativni stroški, ki ustvarjajo prihodke ali nižajo stroške ter spodbujajo ohranjanje, obnavljanje, upravljanje in krepitev naravnega kapitala v korist biotske raznovrstnosti in prilagajanja, vključno z ekosistemskimi rešitvami za izzive, povezane z zemljišči, tlemi, gozdarstvom, kmetijstvom, vodo in odpadki.
The total size of the project bond credit enhancement for these transactions was EUR 664 million (out of which EUR 344 million provided as credit enhancement using funding from the Union budget), which supported bonds in amount of EUR 4270 million (out of which EUR 2065 million bonds have been credit enhanced with support from the Union budget).
V mehanizmu NCFF bo združeno neposredno in posredno dolžniško in kapitalsko financiranje projektov.
In total, the amount of finance (debt + equity) raised by the five projects with PBCE support from Union budget was EUR 2969 million.
Glede na to, da bodo projekti, ki bodo prejemali podporo NCFF, projekti, v katere Evropska investicijska banka (EIB) običajno ne vlaga – bodisi ker so premajhni bodisi zaradi prevelikega zaznanega tveganja –, instrument vključuje mehanizem za delitev tveganja, pri čemer bi v primeru neuspeha projekta prvo izgubo absorbirala sredstva Unije.
No target leverage was indicated in the legal basis.
Mehanizem za izvajanje je vzpostavljen v sporazumu o prenosu pooblastil med Komisijo in EIB, v katerem so določena tudi merila za izključitev/izbor projektov, ki zagotavljajo, da so v postopek izbora vključene prave prednostne naloge ter da sta geografska pokritost in uravnotežena porazdelitev po vrstah projektov ustrezni.
The impact assessment of the PBI pilot estimated a multiplier effect of between 15-20, depending on the size of the subordinated debt of the project and the risk-sharing arrangements.
Da bi projekti zagotovo dosegli stopnjo razvoja, primerno za financiranje, je vzpostavljen sistem pomoči strokovnjakov.
Item 08 02 03 03 — Making the transition to a reliable, sustainable and competitive energy system.
Za izvajanje mehanizma NCFF s posrednim upravljanjem je pooblaščena EIB.
Item 08 02 03 01 — Improving lifelong health and well-being.
Razvoj NCFF bo potekal v dveh fazah: pilotna faza bo omogočila preizkušanje različnih možnosti financiranja, da bi se bilo mogoče v drugi operativni fazi osredotočiti na najprimernejše pristope.
The goal is to improve access to debt financing — loans, guarantees, counter-guarantees and other forms of debt and risk finance — for public and private entities and public-private partnerships engaged in research and innovation activities requiring risky investments in order to come to fruition.
Projekti bodo uvrščeni v štiri splošne kategorije:
The focus shall be on supporting research and innovation with a high potential for excellence.
plačila za ekosistemske storitve: projekti, ki vključujejo plačila za tokove koristi, ki izhajajo iz naravnega kapitala, navadno dvostranske transakcije majhnega obsega z dobro znanim kupcem in prodajalcem ekosistemske storitve.
The target final recipients are potentially legal entities of all sizes that can borrow and repay money and, in particular, SMEs with the potential to carry out innovation and grow rapidly; mid-caps and large firms; universities and research institutes; research infrastructures and innovation infrastructures; public-private partnerships; and special-purpose vehicles or projects.
Temeljijo na načelu „upravičenec plača“, po katerem so plačila izvedena zaradi zaščite kritičnih ekosistemskih storitev,
The Loan and Guarantee Service for Research and Innovation is implemented towards a platform approach offering several products specifically designed to address particular needs.
zelena infrastruktura: je strateško načrtovano omrežje naravnih in polnaravnih območij, pri čemer so druge okoljske značilnosti zasnovane in upravljane tako, da opravljajo širok nabor ekosistemskih storitev.
The key partner as entrusted entity for the implementation of the Loan and Guarantee Service for Research and Innovation is the European Investment Bank (EIB).
Vključuje zelene prostore (ali modre, če se nanaša na vodne ekosisteme) ter druge fizikalne značilnosti na kopenskih (vključno z obalnimi) in morskih območjih.
The funding of the Loan and Guarantee Service for Research and Innovation has two main components:
Na kopnem je zelena infrastruktura prisotna v podeželskem in mestnem okolju.
demand-driven, providing loans and guarantees on a first-come, first-served basis, with specific support for beneficiaries such as SMEs and midcaps.
Projekti na področju zelene infrastrukture lahko ustvarjajo prihodke ali prihranijo stroške na podlagi zagotavljanja blaga in storitev, vključno z upravljanjem voda, kakovostjo zraka, gozdarstvom, rekreacijo, nadzorom poplav/erozije/požarov, opraševanjem in večjo odpornostjo na posledice podnebnih sprememb,
This component shall respond to the steady and continuing growth seen in the volume of RSFF lending, which is demand-led.
izravnava biotske raznovrstnosti: ti ukrepi za ohranjanje naj bi nadomestili preostalo neizogibno škodo, ki jo razvojni projekti povzročajo biotski raznovrstnosti.
This demand-driven component will be supported by the budget of the Horizon 2020 access to risk finance programme,
Temeljijo na načelu „onesnaževalec plača“, po katerem se izravnave izvedejo zaradi skladnosti ali blaženja tveganja zaradi izgube ugleda.
targeted, focusing on policies and key sectors crucial for tackling societal challenges, enhancing competitiveness, supporting sustainable, low-carbon, inclusive growth, and providing environmental and other public goods.
Projekti za izravnavo škode, povzročene območjem Natura 2000, v skladu s členom 6(4) Direktive Sveta 92/43/EGS z dne 21. maja 1992 o ohranjanju naravnih habitatov ter prosto živečih živalskih in rastlinskih vrst (UL L 206, 22.7.1992, str.
This component helps the Union address research and innovation aspects of sectorial policy objectives and will be supported by other parts of Horizon 2020, other frameworks, programmes and budget lines in the Union budget, particular regions and Member States that wish to contribute with their own resources (including through Structural Funds) and/or specific entities (such as Joint Technology Initiatives) or initiatives.
7) niso upravičeni do financiranja v okviru mehanizma NCFF,
The expiry date of the instrument is expected to be in 2027-2030.
inovativne naložbe v korist biotski raznovrstnosti in prilagajanju: ti projekti vključujejo dobavo blaga in storitev, večinoma s strani MSP, ter so namenjeni zaščiti biotske raznovrstnosti ali povečanju odpornosti skupnosti in drugih gospodarskih sektorjev.
The total budget (primary credits) foreseen for the programming period 2014-2020 for the demand-driven part of the Loan and Guarantee Service for Research and Innovation is EUR 1060 million.
Cilj je opredelitev in financiranje projektov z ustrezno obširno geografsko in sektorsko pokritostjo ob preskušanju različnih finančnih mehanizmov, da se med operativno fazo zagotovi ponovljivost v vsej Uniji.
This Horizon 2020 budget contribution will, at least, be matched by the EIB through its own resources, thus allowing increasing the total lending capacity and impact of the Loan and Guarantee Service for Research and Innovation by a factor of two.
Med začetno pilotno fazo naj bi bilo v okviru mehanizma NCFF izvedenih 9–12 ukrepov (tudi posrednih).
The estimated budget allocation foreseen for the total programming period amounts to EUR 1500 million including EUR 440 million from the seventh framework programme RSFF.
Znesek za vsak ukrep v zvezi s posameznimi naložbami bo predvidoma znašal med 5 in 15 milijoni EUR.
The target leverage effect as indicated in the legal basis is 12,5 over the lifetime of the financial instrument.
Dodeljena proračunska sredstva za programsko obdobje 2014–2017 po ocenah znašajo 60 milijonov EUR, vključno z 10 milijoni EUR za sistem tehnične podpore.
Based on the target leverage of the instrument, it is estimated that the total amount of loan volumes mobilised would be around EUR 19000 million.
Ciljni učinek finančnega vzvoda, kot je naveden v sporazumu o prenosu pooblastil, je 2–4 v celotnem času trajanja finančnega instrumenta (do 31. decembra 2019).
This instrument could be covered by the following budget lines:
Na podlagi ciljnih finančnih vzvodov instrumenta se ocenjuje, da bi skupni znesek uporabljenih naložb/posojil znašal okoli 120 milijonov EUR za celotno trajanje programa.
Item 06 02 01 05 — Creating an environment more conducive to private investment for transport infrastructure projects.
Pobuda EU za MSP – 2014 do 2020 (del posrednega upravljanja Komisije, tj. COSME/Obzorje 2020) [74](i) Sklic na temeljni akt
Article 09 03 02 — Creating an environment more conductive to private investment for telecommunications infrastructure projects — CEF broadband.
Komisija je vzpostavila finančne instrumente, katerih namen je olajšati in izboljšati dostop MSP do financiranja v fazah njihovega ustanavljanja, rasti in prenosa ter ki dopolnjujejo finančne instrumente, ki jih za MSP na nacionalni in regionalni ravni uporabljajo države članice.
Item 32 02 01 04 — Creating an environment more conducive to private investment for energy projects.
Obzorje 2020: Uredba (EU) št. 1291/2013 Evropskega parlamenta in Sveta z dne 11. decembra 2013 o vzpostavitvi okvirnega programa za raziskave in inovacije (2014–2020) – Obzorje 2020 in o razveljavitvi Sklepa št. 1982/2006/ES (UL L 347, 20.12.2013, str.
Financial instruments
104)
Pursuant to Regulation (EU) No 1316/2013, the objective of the financial instruments under the CEF is to facilitate infrastructure projects’ access to project and corporate financing by using Union funding as leverage.
V skladu s Sklepom Sveta 2013/743/EU z dne 3. decembra 2013 o vzpostavitvi posebnega programa za izvajanje okvirnega programa za raziskave in inovacije (2014–2020) – Obzorje 2020 in razveljavitvi odločb 2006/971/ES, 2006/972/ES, 2006/973/ES, 2006/974/ES in 2006/975/ES (UL L 347, 20.12.2013, str.
They shall help finance projects of common interest with a clear EU added value, and to facilitate greater private sector involvement in the long-term financing of such projects in the field of transport, energy and telecommunications, the latter limited to broadband networks.
965) je Komisija uvedla finančne instrumente, katerih namen je končnim prejemnikom, ki izvajajo raziskovalne in inovacijske projekte, olajšati dostop do financiranja tveganja.
These financial instruments shall benefit projects with medium- to long-term financing needs and shall produce greater benefits in terms of market impact, administrative efficiency and resource utilisation.
COSME: člen 02 02 02 – Izboljšanje dostopa malih in srednjih podjetij (MSP) do financiranja v obliki lastniških in dolžniških instrumentov.
In addition, these instruments shall provide to infrastructure stakeholders such as financiers, public authorities, infrastructure managers, construction companies and operators a coherent market oriented toolbox of Union financial support.
Obzorje 2020: postavka 08 02 02 02 – Boljši dostop do tveganega financiranja za naložbe v raziskave in inovacije.
In 2014, the Commission, following the conclusion of the CEF ex ante assessment provided for in Article 14(3) of Regulation (EU) No 1316/2013, decided to set-up and launch a debt risk-sharing instrument for loans and guarantees which will also provide support to project bonds.
Pobuda za MSP je bila predstavljena 27.–28. junija 2013 v skupnem poročilu Komisije in EIB Evropskemu svetu, njen namen pa je bil dopolniti in uporabiti sinergije med obstoječimi programi v podporo MSP na nacionalni ravni in ravni Unije.
The ex ante assessment can be found at: http://www.europarl.europa.eu/meetdocs/2014_2019/documents/tran/dv/exanteassessmentcef_en.pdf
Natančneje, pobuda za MSP je skupni instrument, ki združuje sredstva Unije, razpoložljiva v okviru programov COSME in Obzorje 2020, ter sredstva skladov ESRR in EKSRP v sodelovanju z EIB/EIS, namenjena pa je zagotavljanju dodatnih posojil za MSP.
A CEF Equity ex-ante assessment complementing the CEF Debt ex ante has also been carried out, in particular focusing on energy, the broadband and ICT and an equity fund may be established under the CEF Regulation.
Za izvajanje te pobude je pooblaščena EIB.
Implementation of the CEF Debt Instrument and merger of all other financial instruments under Regulation (EC) No 680/2007
V okviru pobude za MSP se lahko izvajajo tri vrste finančnih instrumentov, glede na vsebino pa gre za dva alternativna načina izvajanja, in sicer:
The CEF Debt Instrument (CEF DI) is implemented following the conclusion of the signed Delegation Agreement with the EIB.
neomejena jamstva, ki finančnim posrednikom zagotavljajo kapitalsko olajšavo za nove dolžniške finančne portfelje za MSP, ter
Moreover, the agreement includes the merger of existing instruments (LGTT and the PBI) with the new Debt instrument under the CEF as of 1 January 2016.
instrumente v listinjenju (z dvema možnostma: možnost št. 1 je instrument v listinjenju s prispevkom države članice, ki se uporabi izključno za sodelujočo državo članico; možnost št. 2 pa je instrument v listinjenju z zbranimi prispevki več držav članic, ki se uporabi za zagotavljanje zaščite pri skupni izpostavljenosti, zlasti za vmesne tranše, za katere jamči EIS).
Impact on the budget
Leta 2015 ni bilo prispevkov iz programa COSME za pobudo za MSP.
Article 14(2) of Regulation (EU) No 1316/2013, as amended by the Regulation (EU) 2015/1017, provides that the indicative Union contribution for the financial instruments for the period 2014-2020 shall not exceed 8,4 % of the overall CEF budget.
Od konca leta 2015 se pobuda za MSP izvaja v dveh državah članicah, tj. v Španiji in Malti.
This percentage may be raised to 10 % under certain conditions laid down in Article 21(4) of Regulation (EU) No 1316/2013.
Štiri druge države članice so potrdile svoje zanimanje za sodelovanje v letu 2015 in so začele pripravljati ustrezni okvir in dokumentacijo v zvezi s tem: Bolgarija, Italija, Romunija in Finska.
Duration of the CEF DI
Novo dolžniško financiranje, ki ga uredi izbrani finančni posrednik, prav tako vključuje znesek v 9-kratni vrednosti prispevka COSME in/ali 20-kratni vrednosti prispevka Obzorja 2020, tisti del portfelja novega dolžniškega financiranja, ki izhaja iz prispevkov programa COSME in/ali Obzorje 2020 v skladu z uredbama (EU) št. 1287/2013 in (EU) št. 1291/2013 pa mora izpolnjevati merila upravičenosti za COSME in/ali Obzorje 2020.
The last tranche of the Union contribution to the CEF DI shall be committed by the Commission by 31 December 2020.
Naslednja preglednica prikazuje kot ponazoritev izračun ciljnega finančnega vzvoda za pobudo za MSP v Španiji, v skladu z dogovorjenim pristopom za tak izračun.
The actual approval of debt financing by the entrusted entities or the dedicated investment vehicles shall be finalised by 31 December 2022.
Izračun ciljnega finančnega vzvoda za pobudo za MSP v Španiji
Risk-sharing instrument for loans and guarantees
Kritje tveganja SIUGI
The support through the subordinated debt financing shall not exceed 30 % of the total amount of the senior debt issued.
Ciljna ocena (najmanj)
The senior debt financing to be provided under the CEF DI shall not exceed 50 % of the total amount of the overall senior debt financing to be provided by the entrusted entity or the dedicated investment vehicle.
Kritje tveganja – nadrejena tranša
Project Bond Initiative
Kritje tveganja – zgornja srednja tranša
The risk-sharing instrument for project bonds shall be designed as a subordinated debt financing in order to facilitate financing for project companies raising senior debt in the form of bonds, loans or a combination of loans and project bonds.
Kritje tveganja – vmesna srednja tranša
This credit enhancement instrument shall aim at improving the credit rating of senior debt in order to attract private investors to the financing of the project.
Obzorje 2020
It shall rank behind the senior debt but ahead of equity and financing related to equity.
Kritje tveganja – spodnja srednja tranša
The subordinated debt financing shall not exceed 30 % of the total amount of the senior debt issued.
Skladi ESI
Administrative, performance and treasury management fees
Kritje tveganja – podrejena tranša
As established in the legal basis, the administrative and performance fees to be paid to the EIB shall not exceed 2 % and 3 % respectively of the Union contribution effectively used for individual operations.
Brez ocene
The Treasury Management Fee (as under Article 13(5) of the Financial and Administrative Framework Agreement) shall not exceed 1 % of the Union contribution effectively used to cover operations over the duration of the financial instrument.
Zajamčen portfelj brez originatorja
As regards the energy sector, the CEF DI should facilitate access of projects of common interest to long term debt financing both on corporate and project finance basis.
(v višini 50 % zaradi 50-odstotne stopnje jamstva)
The instrument should in particular assist the projects of common interest where the instrument can facilitate access to debt capital from commercial lending institutions, institutional investors or senior lending from the EIB.
Tveganje originatorja (lastna tveganja banke)
The draft Delegation Agreement foresees that other categories of energy assets (e.g. renewable generation, smart distribution grids) may benefit from the support of the CEF DI in case of ring-fenced contributions from other programmes or bodies.
Skupni znesek zajamčenega portfelja (100 %)
As regards the broadband sector, the CEF DI shall facilitate the efficient flow of private and public investments to stimulate the deployment and modernisation of high speed broadband networks in line with the targets of the Digital Agenda for Europe.
Skupaj ESRR/COSME/Obzorje 2020
In order to ensure best value for money and given the limited resources allocated to CEF broadband, the CEF DI shall be available for projects which rely on the technology best suited for the specific project, can help spur innovative business models and show a high potential for replicability.
Finančni vzvod v zvezi z ESRR (ki pa temelji na sredstvih ESRR, Obzorja 2020, EIB in Evropskega investicijskega sklada)
The CEF DI shall in particular address the special needs of suburban, rural, and sparsely populated and less developed regions, which need to be served with high speed connections.
EPMF zagotovi vire Unije za večjo dostopnost in razpoložljivost mikrofinanciranja za:
This includes the deployment of broadband networks to link islands, landlocked, mountainous, remote and peripheral regions, including island Member States, with the central regions of the Union and/or actions to improve the reliability or performance of connections between such regions and central regions of the Union.
mikropodjetja, zlasti v socialnem gospodarstvu, in mikropodjetja, ki zaposlujejo osebe iz predhodne alinee.