Today Members of the European Parliament voted to adopt the Regulation to extend and enhance the European Fund for Strategic Investments (EFSI), the central pillar of the Investment Plan for Europe. This successful final step follows the agreement in principle reached by the European Parliament and Member States on 13 September.
European Commission Vice-President Jyrki Katainen, responsible for Jobs, Growth, Investment and Competitiveness, said: "The Investment Plan has brought real benefits to companies across Europe. And we want to do more. We listened to the feedback we received on how the European Fund for Strategic Investments works and we have made some improvements. We are making the EFSI's investment decisions even more transparent and providing more technical support at a local level. We are also extending the EFSI's lifetime to end-2020 and its investment target to €500 billion. The EFSI has already helped create 300,000 jobs – let's keep up the momentum".
The extended EFSI will in particular provide even more financial support to smaller companies. Moreover, a provisional agreement was found this morning between the Commission, the European Parliament and the Council on how to simplify the blending of EFSI with Cohesion Policy funds.