Brussels, 1 June 2016 European Commission - Press release
Investment Plan for Europe: European Fund for Strategic Investments to be extended following successful first year
One year after the European Fund for Strategic Investments (EFSI) came into force, the Commission looks at what has worked well in the Investment Plan, what can be improved, and how to advance.
Eighteen months after President Jean-Claude Juncker launched the Investment Plan for Europe, and a year after the start of the European Fund for Strategic Investments (EFSI), the Commission takes stock of achievements to date. Today the Commission shares the lessons learned and makes clear proposals for an ambitious future of the EFSI.
European Commission President Juncker said: "The Investment Plan is working and defying the pessimists. The European Fund for Strategic Investments is creating jobs and triggering investments in the real economy every day. That is why we propose to extend it beyond 2018. Let's be ambitious in getting Europe investing again."
Vice-President Jyrki Katainen, responsible for Jobs, Growth, Investment and Competitiveness, added: "Together with the EIB we have achieved a lot in the past 12 months. We have supported innovative energy projects, healthcare centres, urban development and high-speed broadband. Close to 150,000 SMEs have access to new financing. We have created a hub which provides advisory services and technical support to project promoters. We have launched a new portal for promoters to showcase their projects worldwide to investors. But there is more to do: we must continue to deepen the single market – the EU's unique selling point – and Member States must work on removing barriers to investment."
Achievements to date
The European Fund for Strategic Investments (EFSI) is at the heart of this Commission's Investment Plan. Managed by the EIB Group, it is firmly on track to deliver on mobilising at least EUR 315 billion in additional investments in the real economy by mid-2018. The EFSI provides a first loss guarantee, so that the EIB has been able to invest in more projects, sometimes riskier projects, and to invest sooner than without the EFSI. Overall, the EFSI is already active in 26 Member States and is expected to trigger EUR 100 billion in investment with the approvals given so far. Small and medium-sized enterprises (SMEs) have benefited particularly from the EFSI so far. To encourage more EFSI activity in the Member States lagging behind so far, the EIB and the Commission will increase their local outreach.
page source http://europa.eu/rapid/press-release
