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Friday, 18 January 2019 17:00

New EU programme to support investment

New EU programme to support investment

The new InvestEU programme follows and replaces the current EFSI (European Fund for Strategic Investments), set up after the financial crisis, Caspian Energy News (www.caspianenergy.net) reports with reference to the press statement of the European Parliament.

MEPs adopted amendments on Wednesday to improve the EU Commission proposal, including: increasing the EU budget guarantee to €40.8 billion (current prices) to mobilise more than €698 billion of additional investment across the EU (Commission proposed €38 billion to mobilise €650 billion); clearer and new objectives, such as increasing the EU employment rate, achieving the Paris Climate Agreement goals or economic, territorial and social cohesion; better climate protection: MEPs set a target of “at least 40%” of the overall financial envelope of the InvestEU Programme for climate objectives; introducing a Steering Board to ensure the right balance between policy and banking experience in governing the programme; an EP appointee will also sit on the committee; the Commission and the Steering Board should report annually to Parliament and Council on the progress, impact and operations of the InvestEU Programme to ensure better accountability to European citizens.

More details: http://www.europarl.europa.eu/news/en/press-room/20190109IPR23009/investeu-meps-support-new-programme-to-boost-financing-for-jobs-and-growth

Person in charge of the newsline: Olga Nagiyeva 

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