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EFSI boosts confidence, growth and jobs in the EU

Date

08 Jun 2016

Sections

Development Policy
Social Europe & Jobs

The European Fund for Strategic Investments (EFSI) has proved to be successful in its first year of operation, boosting investment in the EU and strengthening confidence, growth and jobs. The EPP Group has supported EFSI ever since European Commission President Jean Claude Juncker presented it as his first priority. Despite some tough negotiation rounds, the EPP Group never doubted its success.

The aim of the investment plan, over its three year duration, is to activate at least €315 billion in private investment, from which €240 billion for infrastructure projects and €75 billion to invest in SMEs.

"In one year, EFSI has already mobilised €100 billion in 26 Member States, exceeding expectations for SMEs as it mobilised €49 billion out of the €75 billion assigned to them. Looking at such a positive performance, we believe that EFSI should continue beyond the three years originally planned," stated José Manuel Fernandes MEP, EPP Group Spokesperson in the Budgets Committee and Co-Rapporteur on EFSI.

Fernandes calls on national governments and local authorities "to set up regional, national and transnational investment platforms to promote geographical dispersion and thematic investments and also to promote the existing advisory support platforms, to get more users."

Othmar Karas MEP, the EPP Group's Rapporteur on the economic orientation of the Juncker investment fund, calls for an extension of the fund to Africa: "The start of the European Strategic Investment Fund was a success. Yes to prolonging the fund now. Yes to extending the fund to strategic investment on the African continent as well. Yes to new instruments which allow for risky investments that cannot be financed otherwise. The fund should not be just another cash distribution bag, but offer leverage for projects which would not fly otherwise," he stressed.

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