EP and Council hold second round of negotiations on EFSI
On 29 April 2015, the European Parliament (EP) and the Council held their second political meeting to negotiate on the legislative proposal for setting up the European Fund for Strategic Investments (EFSI). Issues discussed were the EFSI governance, the use of the guarantee, and the envisaged Advisory Hub.
As for the EFSI governance, the EP and the Council agreed that the EFSI should have a strong two-tier governance structure, composed of a Steering Board and an independent Investment Committee. The Council stressed the important role of investment platforms and national promotional banks in delivering the objectives of the fund.
With respect to the financing of the EU guarantee fund, the co-legislators reinstated their positions, with the Council insisting on the irrevocability and unconditionality of the EU guarantee. The Advisory Hub, which is to be the technical assistance platform for the structuring of investment projects provided to project promoters, was also discussed.
Despite the remaining difference, the Latvian Council Presidency called the outcome of the meeting "an important building block for an agreement by June". The next trilogue will take place on the 7 May 2015.
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