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Investment Plan for Europe exceeds €500 billion investment target ahead of time

  • The European Fund for Strategic Investments (EFSI) has mobilised €514 billion in additional investment across the EU since July 2015 – reaching its target half a year before the end of the initiative.
  • EFSI, the financial pillar of the Investment Plan for Europe, has made a clear impact on the EU economy and is proving its versatility in response to the coronavirus pandemic.
  • Over the past five years, hundreds and thousands of businesses and projects have benefitted, making Europe more social, green, innovative and competitive.
  • The European Fund for Strategic Investments (EFSI) has mobilised €514 billion in additional investment across the EU since July 2015 – reaching its target half a year before the end of the initiative.
  • EFSI, the financial pillar of the Investment Plan for Europe, has made a clear impact on the EU economy and is proving its versatility in response to the coronavirus pandemic.
  • Over the past five years, hundreds and thousands of businesses and projects have benefitted, making Europe more social, green, innovative and competitive.
 

The European Commission and the European Investment Bank (EIB) Group have delivered on their pledge to mobilise €500 billion in investment under the Investment Plan for Europe. Some 1,400 operations have been approved under the European Fund for Strategic Investments (EFSI), using a budget guarantee from the European Union and own resources from the EIB Group. They are expected to trigger close to €514 billion in additional investment across EU countries and to benefit some 1.4 million small and mid-sized companies. In 2017, when the Council and the Parliament agreed to broaden the EFSI’s scope and size, the goal was to mobilise €500 billion by the end of 2020. The money was intended to address the investment gap left as a result of the 2007/8 financial and economic crisis.

Over the past years and especially after the coronavirus outbreak the focus of the EFSI shifted: it has inspired InvestEU, the Commission’s new investment programme for the years 2021-2027, and already now it contributes to the Corona Response Investment Initiative. EFSI will also play a key role in the NextGenerationEU package of measures to rebuild the European economy after the coronavirus shock. It will do this via a top-up for a Solvency Support Instrument, which aims to prevent insolvencies in European businesses.

President of the European Commission Ursula von der Leyen said: “The Investment Plan for Europe is a success. Over the past five years, it has enabled the financing of hundreds of thousands of businesses and projects, delivering on our ambitions of making Europe more green, innovative and fair. We will continue this through NextGenerationEU.”

European Investment Bank Group President Werner Hoyer said: “EFSI can serve as a blueprint for action during the coronavirus response. Knowing that we exceeded the headline figure of €500 billion of investment ahead of time is proof of the power of partnership. Implementing the financial pillar of the Commission’s Investment Plan for Europe has been an honour and a challenge for the EIB. We lived up to it not least thanks to the excellent cooperation between the Bank and European and national institutions. The success of this initiative shows what Europe can achieve with the right tools: our continent has become more social, green, innovative and competitive. We can and we should build on our experience to overcome the current crisis. It will help us to shape a Europe all of us can be proud of.”

Copyright European Union