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InvestEU gets green light from European Parliament. It’s time for the money to go to the people!

Date

09 Mar 2021

Sections

Euro & Finance

InvestEU, one of the S&D Group’s flagship programmes for the next seven years, was adopted today in the European Parliament. Having guaranteed more than 26.1 billion euros for sustainable EU infrastructure, research, innovation and digitalisation, small and medium businesses, and skills, investors can now apply for loans totalling up to 400 billion euros in these fields, in the framework of this ambitious programme for the future of the EU.

Irene Tinagli MEP, S&D negotiator on the file, said:

“InvestEU is a very important tool to support medium to long-term investments in research, innovation and social infrastructure. Its synergy with the Recovery and Resilience Facility will make its contribution to the post-Covid-19 recovery more effective, thanks to the possibility of supporting the capitalisation of SMEs.”

Eider Gardiazabal MEP, S&D spokeswoman on budget and shadow rapporteur on the file, said:

“The new EU instrument to lever investments for the next 7 years is needed more than ever in this crisis: a solid budget aligned with previous budgetary agreements and a capacity to support capital of companies impacted by Covid-19. The time has come to launch it.”

Jonás Fernández MEP, S&D spokesman on economic affairs, said:

“The adoption of InvestEU is big news as it means that investment aimed at supporting European companies, particularly SMEs, during these difficult times of crisis will be available imminently. This investment support mechanism is crucial to foster economic recovery across the Union, and to boost quality employment, digitalisation, sustainable infrastructure investment, innovation, research and the development of strategic companies.

“Projects carried out in regions in transition will have a preferential treatment under InvestEU, materialising the second pillar of the Just Transition Mechanism. This step is crucial for those regions across the EU that are obliged to modify their industrial and productive structure to comply with the decarbonisation objectives set by the European Green Deal.”

 

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