Commission welcomes political agreement on InvestEU

(Credit: Unsplash)

This article is brought to you in association with the European Commission.


The Commission welcomes the political agreement reached between the European Parliament and EU Member States in the Council on the InvestEU Regulation. The political agreement, pending the final approval of the legal texts by the European Parliament Plenary and the Council, lays the ground for a successful and sustainable recovery of the European economy from the coronavirus pandemic in the long run.

Paolo Gentiloni, Commissioner for Economy, said: “This is a good agreement that opens the way to more financing for sustainable infrastructure, research and innovation, SMEs and skills. InvestEU will contribute to Europe’s economic recovery and to the climate and digital transitions. Crucially, Member States will be able to use InvestEU as a tool to implement their Recovery and Resilience Plans.”

The InvestEU Programme will provide the EU with crucial long-term funding, crowding in private investments in support of a sustainable recovery and helping build a greener, more digital and more resilient European economy.

The main elements of today’s compromise include:

  • Four policy windows: Sustainable Infrastructure; Research, Innovation and Digitisation; SMEs; Social Investment and Skills.
  • EU budgetary guarantee of EUR 26.2 billion, indicatively distributed across the four policy windows as follows:
    1. Sustainable Infrastructure window: EUR 9.9 billion
    2. Research, Innovation and Digitisation window: EUR 6.6 billion
    3. SME window: EUR 6.9 billion
    4. Social Investment and Skills window: EUR 2.8 billion
  • Strategic investments will be possible under all four windows, in order to cater for the future needs of the European economy and to promote the EU’s open strategic autonomy in key sectors.
  • At least 30% of the investments under InvestEU will contribute to meeting Union objectives on climate action, confirming InvestEU as one of the main EU programmes contributing to the European Green Deal Investment Plan.
  • InvestEU will provide for a dedicated Just Transition Scheme (Pillar 2 of the Just Transition Mechanism) to generate additional investments to the benefit of just transition regions with an approved territorial just transition plan.
  • Member States will be able, on a voluntary basis, to implement part of their plans under the Recovery and Resilience Facility via the InvestEU programme and the InvestEU Advisory Hub.
  • To ensure rapid deployment and local outreach, InvestEU will be implemented in partnership with the European Investment Bank and the European Investment Fund and multiple other implementing partners, including international financial institutions and national promotional banks and institutions.

Next steps

Following the technical finalisation of the text reflecting the political agreement, the European Parliament and the Council will have to approve the text to allow the Regulation to enter into force and for InvestEU to become operational. 

On 10 November 2020, a political agreement was reached between the European Parliament, EU Member States in the Council as well as the Commission on the next long-term EU budget and NextGenerationEU. As a next step, the legal adoption of the MFF Regulation, the NextGenerationEU regulation along with the amendment of the Own Resources Decision is now urgently needed within their respective roles and procedures. 

Once adopted, the EU’s long-term budget, coupled with the NextGenerationEU initiative, which is a temporary instrument designed to drive the recovery of Europe, will be the largest stimulus package ever financed through the EU budget. A total of €1.8 trillion will help rebuild a post-COVID-19 Europe. It will be a greener, more digital and more resilient Europe.

Background

InvestEU is the EU’s proposed flagship investment programme to kick-start the European economy. It is well-placed to provide long-term funding and to support Union policies in the recovery from a deep economic and social crisis. The InvestEU Programme builds on the success of the Investment Plan for Europe and the European Fund for Strategic Investments (EFSI).

the sting Milestones

Featured Stings

Can we feed everyone without unleashing disaster? Read on

These campaigners want to give a quarter of the UK back to nature

How to build a more resilient and inclusive global system

Stopping antimicrobial resistance would cost just USD 2 per person a year

Brexit Preparedness: European Commission adopts final set of “no-deal” contingency measures for Erasmus+ students, social security coordination rules and the EU budget

The journey begins – 2021 is the European Year of Rail!

Three experts on why eradicating plastic pollution will help achieve gender equality

Informal meeting of heads of state or government, Sibiu, 09/05/2019

State aid: Commission opens in-depth investigation into public support for expansion of LG Chem’s electric vehicles battery plant in Poland

Rising number of young people excluded from jobs, education and training

Iran protests: Live ammunition reportedly used, says UN human rights office

In dreams and in love there are no impossibilities

Opening Remarks by H.E. Ambassador Yang Yanyi, Head of the Chinese Mission to the EU at the Chinese Fashion Night

EU Facility for Refugees in Turkey: €5.6 billion out of €6 billion now allocated in support of refugees

Forget 2009, this is the real credit crisis of our time

Is there a cure for corruption in Greece?

COVID-19 vaccination campaigns and their challenges

EU Visa Policy: Commission welcomes agreement to strengthen EU visa rules

How to unleash the potential of regions like São Paulo

A comprehensive strategy for Eurozone’s long term growth gains momentum

US-EU trade negotiations: pointless tariffs against real economic growth

A Sting Exclusive: “Paris is the moment for climate justice”, Swedish MEP Linnéa Engström claims from Brussels

The ECB proposes a swift solution for SMEs’ financing

Major UN aid operation for 650,000 gets underway across Syria-Jordan border

Latest leaked TTIP document confirms EU sovereignty may be under threat

Societies must unite against ‘global crisis of antisemitic hatred’, Guterres urges

How powering food storage could end hunger

What are antibody tests and can they get the world back to work?

Education should be like everything else. An on-demand service

A new European banking space is born this year

Smart city experts should be looking to emerging markets. Here’s why

JADE Spring Meeting 2016 highlights

European research priorities for 2021-2027 agreed with member states

Latest tragedy in the Mediterranean claims over 100 lives – UN refugee agency

Parliament demands ban on neo-fascist and neo-Nazi groups in the EU

Memoirs from a unique trip to China: “my new old dragon” (Part II)

We need to rethink cybersecurity for a post-pandemic world. Here’s how

COVID-19 amplifies inequality. Fight back with long-term thinking

How COVID-19 vaccine efforts could help defeat other diseases

Former Chilean President Bachelet put forward by UN chief as next High Commissioner for Human Rights

Young people are key to defusing unrest and restoring public trust

A third of young people polled by UN, report being a victim of online bullying

The reskilling revolution can transform the future of work for women

European Defence Fund: EU funds new joint research and industrial projects

Coronavirus Global Response: EU Humanitarian Air Bridge supports Venezuela

Search Engine neutrality in Europe in danger: Are 160.000 Google filtering requests good enough?

Why we need different generations in the workplace

Mexico: UN chief saddened by pipeline blast in which dozens were killed

Use space technology to build a better world for all, urges UN chief

UNICEF urges ‘transformative shift’ in family-friendly work policies to reap ‘huge’ benefits

EU cracks under the weight of its policy on the Ukraine-Russia nub

We need a global convention to end workplace sexual harassment

Climate Change : An Already Health Emergency

10 reasons to be optimistic for the future, from young change-makers

COVID-19 practices are constantly changing – this app helps emergency doctors cope

After the European Parliament elections – what happens next?

Scourge of slavery still claims 40 million victims worldwide, ‘must serve as a wakeup call’

Chernobyl nuclear disaster-affected areas spring to life, 33 years on

Why the UK government must do more to boost green revolution

UN chief praises Africa for keeping ‘hearts and borders open’ in refugee crisis

OK computer: why the machine age still needs humans

In Bali, UN chief Guterres outlines importance of international financial cooperation for sustainable development

TTIP 9th Round marked by American disappointment: Will some optimism save this trade agreement?

As Dubai switches on its first 5G, what is all the fuss about?

More Stings?

Advertising

Speak your Mind Here

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out /  Change )

Google photo

You are commenting using your Google account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

Connecting to %s