MEPs are set to approve a provisional and partial deal with EU ministers on a new EU programme to support investment and access to finance during 2021-2027.
Aiming to generate almost €700 billion in investments, the ‘InvestEU’ initiative should work like a launch pad for investments which otherwise would have been difficult to make. It replaces the current European Fund for Strategic Investments (EFSI) that was set up after the 2008 financial crisis.
MEPs intend to improve the European Commission’s proposal by increasing the EU guarantee (from €38 billion to €40.8 billion, to trigger €698 billion in investments), introducing new objectives like employment, enhancing climate protection and by making the programme’s management more accountable.
Parliament is set to close its first reading, including parts already agreed with member states (press release here). The newly elected European Parliament will continue talks with EU ministers.
A dedicated ‘InvestEU’ website shows examples of projects supported by the EU.
Procedure: Ordinary legislative procedure (ex-codecision procedure), first reading
Debate: Wednesday, 17 April
Vote: Thursday, 18 April