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InvestEU programme: The EU’s new investment support scheme [EU Legislation in Progress]

Written by Alessandro D’Alfonso (3rd edition, updated on 30.3.2021),

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The InvestEU programme is a single investment support mechanism for the 2021-2027 period. It brings together various EU financial instruments for internal policies previously supported by different funds and programmes of the EU budget. On 26 March 2021, the InvestEU Regulation entered into force, with retroactive application from 1 January 2021. The EU guarantee, set at €26.2 billion, is expected to mobilise at least €372 billion of investment across the EU (in current prices). In addition, at Parliament’s insistence, European Investment Bank legacy portfolios will be consolidated with InvestEU, which could mobilise an extra €35-40 billion in investment. Under the national compartment, Member States are able to allocate amounts to InvestEU from funds under shared management and from the new Recovery and Resilience Facility. Composed of four policy windows (sustainable infrastructure; research, innovation and digitalisation; SMEs; and social investment and skills), InvestEU is designed to contribute to the green transition in various ways, including through investment targets and a horizontal Just Transition Scheme.

Complete version

Proposal for a regulation of the European Parliament and of the Council establishing the InvestEU programme
Committee responsible: Budgets (BUDG) and Economic and Monetary Affairs (ECON) – jointly under Rule 58 COM(2020) 403
Rapporteurs: José Manuel Fernandes (EPP, Portugal) and Irene Tinagli (S&D, Italy) 2020/0108(COD)
Shadow rapporteurs: Markus Ferber (EPP, Germany); Eider Gardiazabal Rubial (S&D, Spain); Ondřej Kovařík (Renew, Czechia); Nils Torvalds (Renew, Finland); Valentino Grant (ID, Italy); Joachim Kuhs (ID, Germany); Kira Marie Peter-Hansen (Greens/EFA, Denmark); Monika Vana (Greens/EFA, Austria); Bogdan Rzońca (ECR, Poland); Johan Van Overtveldt (ECR, Belgium); Petros Kokkalis (The Left, Greece); Dimitrios Papadimoulis (The Left, Greece) Ordinary legislative procedure (COD) (Parliament and Council on equal footing – formerly ‘co-decision’)
Procedure completed. Regulation (EU) 2021/523
OJ L 107, 26.3.2021, pp. 30–89

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