Proposal on the extension of the duration of the European Fund for Strategic Investments (EFSI) as well as the introduction of technical enhancements for that Fund and the European Investment Advisory Hub (EIAH)

Further information:

The extension of the EFSI was put forward in September 2014 given its initial success and aims to cover the period of the Multiannual Financial Framework, which is set to provide a total of at least half a trillion euro investments by 2020.

A key element of the proposal is a further reinforcement of additionality of the projects supported under the EFSI. Beyond the extension of the duration of the EFSI, the proposal foresees a number of technical enhancements for the EFSI and the EIAH, incorporating the lessons learnt in the first year of implementation of the EFSI.

Background information:

Following the launch of the Investment Plan for Europe in November 2014, the conditions for an uptake in investment have improved across Europe and the European Union's economy and growth indicated a return.

On 1 June 2016, the European Commission issued a Communication outlining the achievements of the Investment Plan and the envisaged next steps, including the extension of the duration of the European Fund for Strategic Investments (EFSI) beyond its initial three-year period, the scaling-up of the SME window within the existing framework and the enhancement of the EIAH.

The European Commission adopted in September 2016 a proposal extending the duration of the European Fund for Strategic Investments (EFSI) until the end of the EU's Multiannual Financial Framework (MFF) in December 2020, with a view to reaching an investment target of €500 billion.

The Council of the European Union adopted its negotiating position in December 2016 and the European Parliament's economic affairs did the same in May 2017. An informal agreement between the institutions was reached on 12 September. The Council's Committee of Permanent Representatives endorsed it on 8 November.

EUR-Lex: COM(2016)597: Follow the progress of this proposal through the decision-making procedure http://eur-lex.europa.eu/legal-content/EN/HIS/?uri=COM:2016:597:FIN

EUR-Lex: SWD(2016)297: Evaluation http://eur-lex.europa.eu/legal-content/EN/TXT/?uri=SWD:2016:297:FIN

EUR-Lex: SWD(2016)298: Executive summary of the evaluation http://eur-lex.europa.eu/legal-content/EN/TXT/?uri=SWD:2016:298:FIN

European Parliament: Legislative Observatory: 2016/0276(COD): European Fund for Strategic Investments: extension of duration; technical enhancements for the Fund and the European Investment Advisory Hub http://www.europarl.europa.eu/oeil/popups/ficheprocedure.do?reference=2016/0276(COD)

European Parliament: Press Release, 13.09.17: EU investment plan: MEPs and ministers agree to prolong and add new resources http://www.europarl.europa.eu/news/en/press-room/20170912IPR83797/

European Commission: DG Communication: IP/17/3207, 13.09.17: Commission welcomes agreement in principle to extend and reinforce Investment Plan's European Fund for Strategic Investments (EFSI) http://europa.eu/rapid/press-release_IP-17-3207_en.htm

European Commission: DG Communication: IP/17/1327, 15.05.17: Commission welcomes European Parliament vote on extension and reinforcement of the European Fund for Strategic Investments (EFSI), the heart of the Juncker Plan http://europa.eu/rapid/press-release_IP-17-1327_en.htm

European Commission: DG Communication: MEMO/17/3224, 13.09.17: Extension of the European Fund for Strategic Investments (EFSI) - Frequently Asked Questions http://europa.eu/rapid/press-release_MEMO-17-3224_en.htm

Luxemburger Wort, 13.09.17: EU strengthens fund, targets €500 billion in investments https://www.wort.lu/en/business/eu-investments-eu-strengthens-fund-targets-500-billion-in-investments-59b911d056202b51b13c32a4

Council of the European Union: Press Release, 08.11.17: Investment plan for Europe: EFSI extension approved by Council http://www.consilium.europa.eu/en/press/press-releases/2017/11/08/investment-plan-for-europe-efsi-extension-approved-by-council/

---