Local view for "http://purl.org/linkedpolitics/eu/plenary/2012-04-19-Speech-4-281-000"
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"en.20120419.15.4-281-000"2
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This proposal includes provisions enabling the creation of a risk-sharing mechanism, based on authorising the transfer of capital from the Structural Funds and the Cohesion Fund, and from the Member States, to the European Commission; that is, transferring part of the financial allocations to the countries in difficulty, thereby reducing the overall allocations remaining to them. The goal is to concentrate this capital in the European Investment Bank (EIB) to cover losses – foreseen and unforeseen – from loans and guarantees.
So-called risk sharing is being established between the EIB and other national or international financial institutions, public or private, which will issue loans to projects’ investors and to banks, with a view to providing private cofinancing for projects implemented with contributions from the Structural Funds and the Cohesion Fund. As we said during the debate, there are other ways of overcoming the severe limitations on private investment. These ways involve, not reducing – in practice – the overall financial package for these countries, but rather increasing it. This is, therefore, yet another uniquely European exercise in ‘solidarity’. Moreover, the example given by the rapporteur of the type of projects to be funded is enlightening: finance for building toll motorways, to be operated by private companies."@en1
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