Today, the European Parliament’s Budgets and Economic and Monetary Affairs Committees together approved the InvestEU Programme by a vast majority.
“InvestEU aims to trigger €700 billion in additional investment between 2021 and 2027. It follows the successful steps of the European Fund for Strategic Investments (EFSI) by providing an EU budget guarantee to support investment and access to finance in the EU”, stated José Manuel Fernandes MEP, the Budgets Committee Spokesman.
The InvestEU Programme will bring the multitude of EU financial instruments currently available to support investment in the EU under one roof.
“We are pooling 13 EU financial instruments under one roof for more efficiency and less bureaucracy to mobilise €700 billion of additional investment in all Member States by 2027”, stated Othmar Karas MEP, the EPP Group negotiator in the Economic and Monetary Affairs Committee.
The EU funding for investment projects in Europe will come under four policy areas: sustainable infrastructure; research, innovation and digitisation; small and medium-sized enterprises (SMEs) and small mid-caps; and social investment and skills.
“The EPP Group fully supports this new instrument as it is an excellent tool for creating jobs and strengthening the competitiveness of the European Union”, said Fernandes.
“As the EPP Group negotiator of economic policies, I hope the Council adopts its position swiftly so that we can start trilogue negotiations. Then we can adopt this important initiative for growth and employment in Europe before the European elections”, concluded Karas.
The EPP Group is the largest political group in the European Parliament with 218 Members from 28 Member States