Press Release

EFSI 2.0 to mobilise €500 billion for investment in EU

Strasbourg
, 13.09.2017 - 11:50
business statistics in blue - white chart with a blue arrow going up

After the seventh and final negotiating round, the European Parliament, the Council and the Commission reached a political agreement on the extension of the duration of the European Fund for Strategic Investments (EFSI) until 31 December 2020, and the introduction of technical enhancements for the fund and the European Investment Advisory Hub.

“We have reached an agreement that enhances competitiveness, growth, employment and the quality of life of EU citizens through sustainable investments”, stated the Rapporteur in the Budgets Committee, José Manuel Fernandes MEP.

The new proposal, referred to as EFSI 2.0, includes an increase in the EU guarantee from €16 to 26 billion and in EIB capital from €5 to 7.5 billion, which should mobilise private and public investment of €500 billion over the period until 2020.

"In future, the EFSI will be even more effective, more objective and transparent", said Othmar Karas MEP, EPP Group negotiator in the European Parliament's Economic Affairs Committee.

“I believe that the geographical distribution of investments will improve since the financing of small projects has been facilitated. We reinforced additionality and at the same time, we have facilitated the access of less developed regions. The Advisory Hub will have a proactive stance to promote and structure platforms and good projects in all regions of the EU”, added Fernandes.

Since its creation in 2015, EFSI has already significantly contributed to growth, employment and competitiveness in Europe: more than €225 billion in investments over the last two years, benefiting 425,000 SMEs and creating 300,000 new jobs.

“In future, there will be stronger focus on high-quality and cross-border projects. EU guarantees would be allocated directly to investment platforms. They would be in a position to allow projects under their umbrella and even small-scale projects to participate in large research ideas”, concluded Karas.

The EFSI is a guarantee fund that allows the European Investment Bank to use EU funds as collateral to provide loans and participations for risk-free projects. In this way, it can help those high-quality projects which cannot be implemented within the framework of existing financial instruments.

Note to Editors
The EPP Group is the largest political group in the European Parliament with 216 Members from 27 Member States

MEP Contacts

-
José Manuel FERNANDES
STR - Phone: +33 (0)3 88 175165 Fax: +33 (0)3 88 179165
Email: josemanuel.fernandes@europarl.europa.eu
-
Othmar KARAS
STR - Phone: +33 (0)3 88 175627 Fax: +33 (0)3 88 179627
Email: othmar.karas@europarl.europa.eu

Press Contacts

Francisco Correia Da Silva
Portuguese press; Communications Strategy
Phone: +32 470 830 567
Daniel Köster
Austrian press; Communications Strategy
Phone: +32 487 384 784

Latest

Enlargement
22.02.2018 - 11:39

End rebate logic - we all benefit from EU budget

“The EU budget must be strengthened without penalising taxpayers. Post-2020, we have to stop rebates, compensations and end the logic of...
Online shopping with digital tablet
22.02.2018 - 10:10

Shop like at home

Whether buying online or offline from another EU Member State, European consumers will in the future be entitled to a harmonised level oF protection...
Combines harvesting wheat
21.02.2018 - 18:14

Evaluation and authorisation of pesticides needs to hold up to scrutiny

After the controversy surrounding the renewal of the use of glyphosate in farming, the European Parliament has set up a Special Committee to...
Social media web sites
21.02.2018 - 17:41

Parliament pushes forward with plan for digital tax

On the initiative of the EPP Group, the European Parliament is the first EU Institution to come forward with a concrete plan to tax digital giants...

Highlights of the week

19.02.2018 - 23.02.2018
Business finance chart and Euro banknotes

Voting on post-2020 EU expenditure and revenue

The Budgets Committee will vote on Thursday on Parliament's position on the EU's post-2020 seven-year budget (Multi-Annual Financial...
EUROCORPS' soldiers do a military simulation on the ground with chariot, trucks, guns, weapons and some wounded soldiers

Stronger industrial cooperation on defence

Europe needs stronger and better cooperation in the field of defence. The pan-EU cooperation on an industrial defence programme is an important step...
High voltage post

Making the internal market for electricity work for consumers and industry

The way the electricity markets work inside the EU needs an overhaul to increase the supply of affordable and secure energy across EU borders. The...
Believe in people