European Fund for Strategic Investments – EFSI 2.0
On 14 September 2016, the Commission proposed an extension of the duration of the European Fund for Strategic Investments (EFSI) until end-2020, and the introduction of technical enhancements for that fund and the European Investment Advisory Hub. Under the new regulation, (EFSI 2.0), steps are taken to increase support for small-scale projects; Parliament can send a (non-voting) expert to EFSI’s steering board, and EFSI’s scoreboard will be publicly available after a project is signed. The increase in the financial allocation needed to deliver the higher investment targeted will come from an increase in the EU budget guarantee from €16 billion to €26 billion, and an increase in the EIB contribution from €5 billion to €7.5 billion. However, the provisioning rate for the guarantee is reduced to 35 %, giving a total contribution from the EU budget of €9.1 billion, compared to an initial contribution of €8 billion. Parliament managed to reduce the share of this increased contribution financed via redeployments from the Connecting Europe Facility programme, by instead drawing more heavily on EFSI-assigned revenues and investment reflows. The agreed text was adopted on 12 December 2017.
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Keyword
- BUSINESS AND COMPETITION
- business classification
- EU finance
- EU growth strategy
- EU institutions and European civil service
- EU investment
- European construction
- European Fund for Strategic Investments
- European Investment Bank
- EUROPEAN UNION
- European Union law
- FINANCE
- financing
- financing and investment
- fund (EU)
- innovation
- investment project
- operation of the Institutions
- PRODUCTION, TECHNOLOGY AND RESEARCH
- proposal (EU)
- research and intellectual property
- small and medium-sized enterprises
- TRANSPORT
- transport infrastructure
- transport policy