MEPs prolong and top up EU investment plan
The European Fund for Strategic Investment (EFSI), which has helped economic recovery, will be prolonged until 2020 and topped up with extra money to finance more projects that promise the best economic and social returns in the EU member states, according to a new law to be put to the vote on Tuesday.
EFSI, also known as the Juncker Plan, aims to mobilise €500 billion to redress market failures and investment gaps, by funding innovative projects with a high-risk profile which would not otherwise be supported. According to the agreement between the Parliament and the member states, investments should also foster job creation, particularly for young people and economically weaker EU regions.
The EFSI, implemented by European Investment Bank, was established in 2015 for an initial period of 3 years, with the aim of mobilising at least €315 billion of investments in the real economy. The European Commission proposed to extend the fund’s duration until the end of the EU’s current Multiannual Financial Framework (MFF) in December 2020, with a view to reaching an investment target of €500 billion.
You can check the EFSI results for your country on the European Commission website.
Procedure: Co-decision (Ordinary Legislative Procedure), 1st reading agreement
Debate/vote: Tuesday, 12 December