EC presents proposal for European Fund for Strategic Investmets
According to Mr. Katainen, the Investment Plan consists of a risk financing part, a project pipeline, and deepening the Single Market in various areas. The legislative proposals cover the first two pillars. The Commission aims at having the legal texts approved by the member states and the European Parliament by June 2015, in order for the new EFSI Fund and project pipeline to be operational by the end of the summer.
Four key issues were highlighted by the Commission Vice-President:
1. establishing the new European Fund for Strategic Investment (EFSI), in order to be able to mobilise financing of more than € 315 billion over the next 3 years;
2. creating a transparent project pipeline for the projects to be funded;
3. establishing the European Investment Advisory Hub (EIAH), a one-stop-shop for technical and financial assistance for investors and project developers;
4. setting out the governance structure of the new EFSI.
The EIB will contribute to the EFSI and will be represented in its Steering Board. After the EFSI Regulation and the consequent budgetary adjustment have been adopted by the Council and the Parliament, € 6 billion are provided to be transferred from CEF and Horizon 2020 to the EFSI Guarantee Fund.
For the full text of Vice-President Katainen's remarks at the press conference presenting the legislative proposals see http://europa.eu/rapid/press-release_STATEMENT-15-3241_en.htm
Link: Legislative Proposal