Doubling the funds allocated to the European Fund for Strategic Investments (EFSI)

7.2.2017

Question for written answer P-000860-17
to the Commission
Rule 130
Pirkko Ruohonen-Lerner (ECR)

The European Fund for Strategic Investments (EFSI) aims to stimulate economic growth and employment by increasing investment in the European Union. At present, consideration is being given to the Commission’s proposal to extend the period of application of the EFSI, to double the allocation to it and to make technical improvements. The ground for the extra funding lies in the experience gained, which the Commission describes as positive. However, an independent assessment requested by the Commission does not adduce any clear evidence of additionality, let alone significant impacts on employment and growth.

1. On what basis does the Commission anticipate a major impact on growth and employment, given that, according to an independent report produced on behalf of the Commission itself, virtually all the projects would have been implemented even without EFSI funding?

2. Is the EFSI’s additionality (i.e. the net increase in investment which would not have occurred without the EFSI) genuine, or a result of the transfer of projects from the European Investment Bank?

3. Why are there plans for increasing the capacity of the EFSI despite the fact that, as things stand, there have already been difficulties in finding suitable projects for it?