By / April 25, 2017

European Fund for Strategic Investments – EFSI 2.0 [EU Legislation in Progress]

On 14 September 2016, the Commission proposed an extension of the duration of the European Fund for Strategic Investments (EFSI) until end-2020, and the introduction of technical enhancements for that fund and the European Investment Advisory Hub. Under the new regulation, (EFSI 2.0), steps are taken to increase support for small-scale projects; Parliament can send a (non-voting) expert to EFSI’s steering board, and EFSI’s scoreboard will be publicly available after a project is signed.

© Sashkin / Fotolia

Written by Angelos Delivorias and Matthew Parry (3rd edition),

Updated on 25.02.2018

European Fund for Strategic Investments – EFSI 2.0
© Sashkin / Fotolia

On 14 September 2016, the Commission proposed an extension of the duration of the European Fund for Strategic Investments (EFSI) until end-2020, and the introduction of technical enhancements for that fund and the European Investment Advisory Hub. Under the new regulation, (EFSI 2.0), steps are taken to increase support for small-scale projects; Parliament can send a (non-voting) expert to EFSI’s steering board, and EFSI’s scoreboard will be publicly available after a project is signed. The increase in the financial allocation needed to deliver the higher investment targeted will come from an increase in the EU budget guarantee from €16 billion to €26 billion, and an increase in the EIB contribution from €5 billion to €7.5 billion. However, the provisioning rate for the guarantee is reduced to 35 %, giving a total contribution from the EU budget of €9.1 billion, compared to an initial contribution of €8 billion. Parliament managed to reduce the share of this increased contribution financed via redeployments from the Connecting Europe Facility programme, by instead drawing more heavily on EFSI-assigned revenues and investment reflows. The agreed text was adopted on 12 December 2017.

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Proposal for a regulation of the European Parliament and of the Council amending Regulations (EU) No 1316/2013 and (EU) 2015/1017 as regards the extension of the duration of the European Fund for Strategic Investments as well as the introduction of technical enhancements for that Fund and the European Investment Advisory Hub
Committees responsible: Economic and Monetary Affairs (ECON) and Budgets (BUDG) jointly under Rule 55 COM(2016)597 of 14.09.2016

procedure ref.:2016/276(COD)

Ordinary legislative procedure (COD) (Parliament and Council on equal footing – formerly ‘co-decision’)

Rapporteurs:

 

Udo Bullmann (S&D, Germany – ECON)

José Manuel Fernandes (EPP, Portugal – BUDG)

Shadow rapporteurs:

 

 

 

 

 

 

 

 

 

 

Othmar Karas (EPP)

Eider Gardiazabal Rubial (S&D)

Bernd Kölmel (ECR) / Sander Loones (ECR)

Nils Torvalds (ALDE) / Ramon Tremosa i Balcells (ALDE)

Liadh Ní Riada (GUE/NGL)

Martin Schirdewan (GUE/NGL),

Miguel Viegas (GUE/NGL),

Bas Eickhout (Greens/ALE) / Jordi Solé (Greens/EFA)

Marco Valli (EFDD)

Barbara Kappel (ENF)/ Marco Zanni (ENF)

Procedure completed. Regulation (EU) 2017/2396
OJ L 345, 27.12.2017, pp. 34-52.

Stage: procedure completed

 


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