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The InvestEU programme: Continuing EFSI in the next MFF [EU Legislation in Progress]

Written by Angelos Delivorias and Ioannis Zachariadis (2nd edition, updated on 9.4.2019),

© NicoElNino / Fotolia

Since its launch in November 2014, the Investment Plan for Europe (IPE) has had considerable success in mobilising private investment across Europe. Despite its success, investment levels in Europe remain below pre-crisis levels. There is therefore a need to provide for an extended EU investment programme under the new multiannual financial framework (MFF), which caters for multiple objectives in terms of simplification, flexibility, synergies and coherence across relevant EU policies. The InvestEU programme, expected to run from 2021 onwards, has been designed to address this challenge. It will bring diverse EU financial instruments within a single structure, making EU funding for investment projects in Europe simpler and more efficient and flexible. It will build on the success achieved by the European Fund for Strategic Investments (EFSI) and consist of the InvestEU Fund, the InvestEU Advisory Hub and the InvestEU Portal. Negotiators for Parliament and Council have reached a partial agreement on the text of the proposal, excluding budgetary figures and other elements which will not be finalised until overall agreement on the new MFF. Parliament is due to vote on that agreement in April 2019.


Proposal for a regulation of the European Parliament and of the Council establishing the InvestEU programme
Committees responsible: Budgets (BUDG) and Economic and Monetary Affairs (ECON) – jointly under Rule 55 COM(2018) 439 of 6.6.2018
Rapporteurs: José Manuel Fernandes (EPP, Portugal)
Roberto Gualtieri (S&D, Italy)
Shadow rapporteurs: Othmar Karas (EPP, Austria)
Eider Gardiazabal Rubial (S&D, Spain)
Bernd Kölmel (ECR, Germany)
Ralph Packet (ECR, Belgium)
Nils Torvalds (ALDE, Finland)
Ramon Tremosa I Balcells (ALDE, Spain)
Liadh Ni Riada (GUE/NGL, Ireland)
Dimitrios Papadimoulis (GUE/NGL, Greece)
Sven Giegold (Greens/EFA, Germany)
Jordi Solé (Greens/EFA, Spain)
Marco Valli (EFDD, Italy)
Barbara Kappel (ENF, Austria)
Ordinary legislative procedure (COD) (Parliament and Council on equal footing – formerly ‘co-decision’)
Next steps expected: First-reading vote in plenary
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