Today, the European Parliament (EP) adopted its position on InvestEU, an investment programme that aims to trigger €700 billion in additional investment between 2021 and 2027.
“The EPP Group launched the European Fund for Strategic Investments (EFSI) in 2015 to boost investment and stimulate economic growth and employment in the EU at a time when Europe was still recovering from the financial and economic crisis. InvestEU builds on that successful model of providing an EU budget guaranteed to support investment and access to finance in the EU. Today, we clearly showed that the EPP Group continues to be the driving force behind programmes that contribute to public and private investment in the EU”, stated the Rapporteur José Manuel Fernandes MEP, EPP Group Spokesman in the EP’s Budgets Committee.
“I am happy that all the priorities of the EPP Group in the Economic and Monetary Affairs Committee are part of today’s adopted position: an efficient governance structure, an enhanced advisory platform (including more support for smaller projects) as well as effective direct access to the EU guarantee for national or regional promotional banks and institutions”, 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.
“InvestEU is key to economic growth, job creation, entrepreneurship and strengthening EU cohesion. We require InvestEU to achieve geographic balance and to fund small projects”, concluded Fernandes.
The new investment programme will bring the multitude of EU financial instruments currently available to support investment in the EU under one roof.
“By integrating thirteen different EU financial instruments under one roof, InvestEU will reduce bureaucracy, increase efficiency and strengthen competitiveness, jobs and growth in Europe. I urge the Council to adopt its position as soon as possible so that this ambitious investment initiative for Europe can still be adopted before the European elections”, concluded Karas.
The EPP Group is the largest political group in the European Parliament with 217 Members from 28 Member States