EP adopts position on InvestEU programme
On 16 January 2019, the European Parliament adopted its position on a new EU programme to support investment and access to finance from 2021 to 2027. The new InvestEU programme succeeds and replaces the current EFSI (European Fund for Strategic Investments).
The amendments proposed include the following issues:
increasing the EU budget guarantee to €40.8 billion (current prices) to mobilise more than €698 billion of additional investment across the EU (the Commission proposed €38 billion to mobilise €650 billion);
clearer and new objectives, such as increasing the EU employment rate, achieving the Paris Climate Agreement goals or economic, territorial and social cohesion;
better climate protection: MEPs set a target of “at least 40%” of the overall financial envelope of the InvestEU Programme for climate objectives;
introducing a Steering Board to ensure the right balance between policy and banking experience in governing the programme; an EP appointee will also sit on the committee;
the Commission and the Steering Board should report annually to Parliament and Council on the progress, impact and operations of the InvestEU Programme to ensure better accountability to European citizens.
As a next step, negotiations with the Council will start with the aim to reach a first reading agreement.