Text tabled : A7-0270/2012

  Zigmantas Balčytis (S&D), in writing. − (LT) I supported this report, which is aimed at assessing innovative financial instruments and their use in the financial framework for 2014-2020. Since the early part of the last decade, the EU institutions have developed a series of innovative financial instruments (IFIs) based on arrangements combining grants from the Union budget with public and/or private funding in order to boost the volume of investment available to achieve the Union’s strategic objectives. However, in the last decade public investment in the EU has been falling steadily, and this trend has become more pronounced since the start of the financial crisis in 2008. In order to achieve the objectives set by the Europe 2020 strategy, the EU will need massive investment over the next decade and it is therefore essential to properly exploit the potential of these IFIs by attracting private sector funding. I agree that the increased use of IFIs should not become a reason to reduce the size of the EU budget but should serve to optimise its use.