Investment Plan for Europe: Momentum continues with EFSI-backed agreements in all 28 Member States

On the 23 December 2016, the European Commission welcomed the news that, with agreement in Cyprus, the European Fund for Strategic Investments (EFSI) would help to boost investment, support jobs and spur growth in all 28 Member States.

In just 18 months since the EFSI guarantee was launched, the EIB Group loans backed via EFSI were well on track to mobilise its initial target of EUR 315 billion in additional investments in the real economy by 2018.

Given its success so far, President Jean-Claude Juncker announced a proposal in his State of the Union address of 14 September to extend the duration and capacity of the EFSI to boost investment further ("EFSI 2.0"). The proposal would extend the initial three-year period (2015-2018) with a target of EUR 315 billion to at least half a trillion euro in investments by 2020. It also seeked to place a greater emphasis on additionality, cross-border projects, support for SMEs and enhancing the EFSI's geographical coverage.
The proposal to extend the EFSI has already made good progress. EU Finance Ministers gave their backing to the Commission's proposal at a meeting of the ECOFIN earlier this month.

• Primary Source

ESO: Background Information: Investment Plan for Europe http://www.europeansources.info/record/investment-plan-for-europe-2/

ESO: Background information: Economic and Financial Affairs Council, 8 November 2016 http://www.europeansources.info/record/economic-and-financial-affairs-council-8-november-2016/

ESO: Background information: European Council, Brussels, 15 December 2016 http://www.europeansources.info/record/european-council-brussels-15-december-2016/

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