Five countries already committed to contributing to EFSI
On 7 April 2015, Luxembourg was the fifth country to announce that it will contribute to the European Fund for Strategic Investment (EFSI), after Germany (€ 8 billion), Spain (€ 1.5 billion), France (€ billion) and Italy (€ billion) had already made similar announcements earlier this year. Luxembourg will contribute €80 million via its National Promotional Bank to projects funded by the EFSI. All five national commitments to contribute to the Investment Plan so far were made even before the European Fund for Strategic Investments has been formally set up.
European Commission Vice-President Jyrki Katainen, responsible for Jobs, Growth, Investment and Competitiveness, welcomed Luxembourg's announcement and said: "It is very encouraging that Member States are so committed to getting Europe investing again".
After the Commission's EFSI proposal was agreed by the European finance ministers at the ECOFIN meeting on 10 March 2015, the European Parliament is due to hold a committee vote on the Regulation on 20 April 2015, followed by negotiations between the Council and Parliament. The proposal should be finally adopted in June 2015, according to the schedule.
For further information: EC press release