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Regulation (EU) 2015/1017 of the European Parliament and of the Council of 25 June 2015 on the European Fund for Strategic Investments, the European Investment Advisory Hub and the European Investment Project Portal and amending Regulations (EU) No 1291/2013 and (EU) No 1316/2013 — the European Fund for Strategic Investments

Regulation (EU) 2015/1017 of the European Parliament and of the Council of 25 June 2015 on the European Fund for Strategic Investments, the European Investment Advisory Hub and the European Investment Project Portal and amending Regulations (EU) No 1291/2013 and (EU) No 1316/2013 — the European Fund for Strategic Investments

CHAPTER I INTRODUCTORY PROVISIONS

Article 1 Subject matter

1.

This Regulation establishes a European fund for strategic investments (EFSI), an EU guarantee and an EU guarantee fund. In addition, this Regulation establishes a European investment advisory hub (EIAH) and a European investment project portal (EIPP).

2.

For the purposes of paragraph 1, this Regulation provides for the Commission to conclude an agreement with the European Investment Bank (EIB) on the EFSI and an agreement with the EIB on the implementation of the EIAH.

Article 2 Definitions

For the purposes of this Regulation, the following definitions apply:

  1. ‘EFSI Agreement’ means the legal instrument whereby the Commission and the EIB specify the conditions laid down in this Regulation for the management of the EFSI;

  2. ‘EIAH Agreement’ means the legal instrument whereby the Commission and the EIB specify the conditions laid down in this Regulation for the implementation of the EIAH;

  3. ‘national promotional banks or institutions’ means legal entities carrying out financial activities on a professional basis which are given a mandate by a Member State or a Member State's entity at central, regional or local level, to carry out development or promotional activities;

  4. ‘investment platforms’ means special purpose vehicles, managed accounts, contract-based co-financing or risk-sharing arrangements or arrangements established by any other means by which entities channel a financial contribution in order to finance a number of investment projects, and which may include:

    1. national or sub-national platforms that group together several investment projects on the territory of a given Member State;

    2. cross-border, multi-country, regional or macro-regional platforms that group together partners from several Member States, regions or third countries interested in projects in a given geographic area;

    3. thematic platforms that group together investment projects in a given sector;

  5. ‘small and medium-sized enterprises’ or ‘SMEs’ means micro, small and medium-sized enterprises as defined in Article 2 of the Annex to Commission Recommendation 2003/361/EC(1);

  6. ‘small mid-cap companies’ means entities having up to 499 employees that are not SMEs;

  7. ‘mid-cap companies’ means entities having up to 3 000 employees that are not SMEs or small mid-cap companies;

  8. ‘additionality’ means additionality as defined in Article 5(1).

CHAPTER II EUROPEAN FUND FOR STRATEGIC INVESTMENTS

Article 3 Purpose

The purpose of the EFSI shall be to support, in the Union, through the supply of risk-bearing capacity to the EIB, the following:

  1. investments;

  2. increased access to financing for entities having up to 3 000 employees, with a particular focus on SMEs and small mid-cap companies.

Article 4 Terms of the EFSI Agreement

Article 5 Additionality

Article 6 Eligibility criteria for the use of the EU guarantee

Article 7 Governance of the EFSI

CHAPTER III EU GUARANTEE AND EU GUARANTEE FUND

Article 8 EU guarantee

Article 9 Requirements for the use of the EU guarantee

Article 10 Eligible instruments

Article 11 Coverage and terms of the EU guarantee

Article 12 EU guarantee fund

Article 13 Financing of the guarantee fund from the general budget of the Union

CHAPTER IV EUROPEAN INVESTMENT ADVISORY HUB

Article 14 European Investment Advisory Hub

CHAPTER V EUROPEAN INVESTMENT PROJECT PORTAL

Article 15 European Investment Project Portal

CHAPTER VI REPORTING, ACCOUNTABILITY AND EVALUATION

Article 16 Reporting and accounting

Article 17 Accountability

Article 18 Evaluation and Review

CHAPTER VII GENERAL PROVISIONS

Article 19 Transparency and public disclosure of information

Article 20 Auditing by the Court of Auditors

Article 21 Anti-fraud measures

Article 22 Excluded activities and non-cooperative jurisdictions

Article 23 Exercise of the delegation

CHAPTER VIII TRANSITIONAL AND FINAL PROVISIONS

Article 24 Transitional provision

Article 25 Entry into force

ANNEX I

‘ANNEX II

ANNEX II