Council adopts EFSI extension
On 8 November 2017, EU ambassadors endorsed, on behalf of the Council, an agreement with the European Parliament on an extension to the European Fund for Strategic Investments (EFSI). The flagship initiative under the EU's 'Investment Plan for Europe' is to be extended in terms of both duration and financial capacity. The draft regulation extends the fund's lifespan until 31 December 2020, raises the investment target to €500 billion, increases the EU budget guarantee to €26 billion (of which €16 billion will be available for guarantee calls until mid-2018) and increases the European Investment Bank's contribution to €7.5 billion (from €5 billion currently).
The draft regulation includes a number of technical adjustments in the light of lessons learned from implementation. These include the addition of new sectors to be covered, the strengthening of climate-related actions, clarification of the additional nature of investments, and more targeted support to member states that have difficulties in developing projects. Projects currently cover transport, energy and broadband infrastructure, education, health, research and risk finance for SMEs.TOP