Commission will prolong EFSI and double funding
On the occasion of President Juncker's 2016 State of the Union address, the Commission today set out how it plans to further boost investment to support jobs and sustainable growth, both in Europe and globally. In this context the Commission proposes to extend its European Fund for Strategic Investments (EFSI). The Commission is committed to doubling the EFSI, in terms of duration and financial capacity, providing the necessary certainty to promoters and allowing for it to be continued in the future.
The EC proposal says "Given the results delivered, the Commission presents a legislative proposal to extend the duration of the EFSI until 2020 in parallel with its Communication on the mid-term review/revision of the MFF. This proposal includes a transfer from CEF financial instruments to the EFSI of EUR 500 million, a transfer of EUR 1 146 million from CEF financial instruments to CEF grants22 to be blended with EFSI financing or to other instruments dedicated to energy efficiency, as well as the use of EUR 150 million from the unallocated margin. This should ensure a maximum impact of EU funds, eliminate overlaps and maximise the synergies between different grants and financial instruments as well as with private investors. Overall, EUR 1.4 billion additional financial means will be available for CEF transport grants to finance cross-border transport infrastructure for priority networks in the EU."
For the first phase of EFSI, the Horizon 2020 budget has been cut by € 2,2 billion.