“The European Fund for Strategic Investments (EFSI), which is at the heart of the Juncker Investment Plan, has delivered the expected results and has largely exceeded expectations as regards SME investments," stated the EFSI Co-Rapporteur, José Manuel Fernandes MEP.
The three-year investment plan is in place since July 2015 and aims to mobilise a total of €315 billion: €240 billion for infrastructure projects and €75 billion for SMEs. EFSI has so far mobilised more than €194 billion in investment and supported more than 400,000 small and medium-sized enterprises.
Given such success, the EPP Group supports extending EFSI until 2020. “Investing for long-term effects is not a sprint, but a marathon. I am glad that we are extending, ramping up and enhancing the Juncker Investment Plan. The overall investment goal is €500 billion,” stated Othmar Karas MEP, the EPP Group Spokesman on the issue in the Economic and Monetary Affairs Committee.
“EFSI is helping to create jobs and has contributed to growth, but citizens are unaware of this positive effect. EFSI is an EU success that deserves to continue and gain greater visibility,” advised José Manuel Fernandes MEP.
Despite EFSI’s success, the Commission estimates that the investment gap in Europe is minimum €200-300 billion a year. "EFSI alone cannot close the investment gap in Europe. To boost the European economy we also need to remove obstacles to the internal market, improve the investment and business environment and further develop the Economic and Monetary Union," concluded Othmar Karas MEP.
MEPs will vote today in plenary on the report on the implementation of the European Fund for Strategic Investments.