Page 11 - ePaper
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- payment terms in case of a call on the guarantee that allow for the possibility to
spread the budgetary impact of a call on the fund over time;
- foreseeing an early warning system in the governance of the EFSI to ensure that
sufficient information is given and that preventive measures are taken in case the
financial viability of the Fund gets under stress.
20. What will the Fund do exactly? What projects will it finance?
Funding will be channelled to viable projects, with a real added value for the European social
market economy. This includes in particular but not only:
1) Strategic infrastructure (digital and energy investments in line with the EU policies)
2) Transport infrastructure in industrial centres, education, research and innovation
3) Investments boosting employment, in particular through SME funding and measures
for youth employment
The Member States will provide lists of projects to the joint Commission-EIB Task Force
selected according to three key criteria:
1) EU-added value (projects in support of EU objectives)
2) Economic viability and value – prioritising projects with high socio-economic returns
3) Projects that can start at latest within the next three years, i.e. a reasonable
expectation for capital expenditure in the 2015-2017 period.
In addition, listed projects should have the potential for leveraging other sources of funding.
They should also be of reasonable size and scalability (differentiating by sector/sub-sector),
even if this can take account of the bundling of smaller investments.
21. What about competition law screening of the selected projects?
Public support for infrastructure investments generally contributes to stimulating jobs and
growth. It helps build infrastructure that otherwise would never be realised and to draw in
private investments. Projects should be chosen carefully so that they do not waste taxpayer
money, harm competitors and crowd out private investment. To make the Investment Plan a
success, the Commission will follow three key principles when applying state aid-rules:
Projects should fulfil a real need – so no duplication of existing infrastructure; they should
allow for fair and reasonable access to all users; and public support should be limited to
what is necessary to kick-start investment and not result in overcompensation.
When Member States contribute money from their own budgets directly, the Commission
will in addition conduct a simplified state aid assessment taking into account the
characteristics of the sector and focusing on avoiding overcompensation. This will ensure
implementation without undue delays, and ensure fair competition.
22. What will be done for SMEs in particular?
The EU’s 22 million SMEs are the backbone of the EU’s economy. Growth and recovery start
with our SMEs. But we should not forget about another segment of the EU’s economy that
sometimes has difficulties accessing finance: mid-cap companies. These are significantly
10
spread the budgetary impact of a call on the fund over time;
- foreseeing an early warning system in the governance of the EFSI to ensure that
sufficient information is given and that preventive measures are taken in case the
financial viability of the Fund gets under stress.
20. What will the Fund do exactly? What projects will it finance?
Funding will be channelled to viable projects, with a real added value for the European social
market economy. This includes in particular but not only:
1) Strategic infrastructure (digital and energy investments in line with the EU policies)
2) Transport infrastructure in industrial centres, education, research and innovation
3) Investments boosting employment, in particular through SME funding and measures
for youth employment
The Member States will provide lists of projects to the joint Commission-EIB Task Force
selected according to three key criteria:
1) EU-added value (projects in support of EU objectives)
2) Economic viability and value – prioritising projects with high socio-economic returns
3) Projects that can start at latest within the next three years, i.e. a reasonable
expectation for capital expenditure in the 2015-2017 period.
In addition, listed projects should have the potential for leveraging other sources of funding.
They should also be of reasonable size and scalability (differentiating by sector/sub-sector),
even if this can take account of the bundling of smaller investments.
21. What about competition law screening of the selected projects?
Public support for infrastructure investments generally contributes to stimulating jobs and
growth. It helps build infrastructure that otherwise would never be realised and to draw in
private investments. Projects should be chosen carefully so that they do not waste taxpayer
money, harm competitors and crowd out private investment. To make the Investment Plan a
success, the Commission will follow three key principles when applying state aid-rules:
Projects should fulfil a real need – so no duplication of existing infrastructure; they should
allow for fair and reasonable access to all users; and public support should be limited to
what is necessary to kick-start investment and not result in overcompensation.
When Member States contribute money from their own budgets directly, the Commission
will in addition conduct a simplified state aid assessment taking into account the
characteristics of the sector and focusing on avoiding overcompensation. This will ensure
implementation without undue delays, and ensure fair competition.
22. What will be done for SMEs in particular?
The EU’s 22 million SMEs are the backbone of the EU’s economy. Growth and recovery start
with our SMEs. But we should not forget about another segment of the EU’s economy that
sometimes has difficulties accessing finance: mid-cap companies. These are significantly
10
