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

These social entrepreneurs are lighting up Africa

More than half of world’s refugee children ‘do not get an education’, warns UNHCR

How responsible businesses can step forward to fight coronavirus

“Sorry mom it’s not our day”: the true refugee story of a young doctor and his family forced to flee their home

Here’s how to find a job you really love

UN agency plan tackles ‘hidden cost’ of gold, paves way for safer, mercury-free mining

Love Affair with Some(one)/(thing)

Civil society groups matter for Cambodia’s sustainable development: UN expert

To what extent are our moral standards responsible for killing people?

Smokers who quit one month before surgery reap benefits: UN health agency

Here’s how we reboot digital trade for the 21st century

The West cannot ignore Russia; dazed Germany sitting on the fence

“France will be there, it will always be there!”, French President Hollande says in a rather disorganised speech; the Sting reports live from World Economic Forum 2015 in Davos

Direction Wakanda: finance methods to make Africa a superhero continent

Venezuela: Parliament recognises Guaidó, urges EU to follow suit

Team Europe increased Official Development Assistance to €66.8 billion as the world’s leading donor in 2020

We need to rethink neuroscience. And you can help us

Four in 10 indigenous languages at risk of disappearing, warn UN human rights experts

Congrats to the #FutureofMalta: a new age of voting

Eurozone: Avoiding a new Greek accident

Venezuelan exodus to Ecuador reaches record levels: UN refugee agency steps up aid

Here are 10 of Nelson Mandela’s most inspirational quotes

Civilians ‘must never be a target,’ says UN in Afghanistan, amid troubling number of casualties during Ramadan

China will be the world’s top tourist destination by 2030

More than 90 per cent of Africa migrants would make perilous Europe journey again, despite the risks

Eurozone: Austerity brings new political tremors

Sahel States need international support ‘now more than ever’– UN peacekeeping chief

What universities can learn about citizenship in the COVID-19 pandemic

UN, African Union make significant joint commitment to global health

MEPs hail minimum global corporate tax rate deal as historic

The Future of Retail: Changing shopping patterns will mean retailers need to invest in costly and complex solutions

On technology and medical ethics

Why the future for cars is connected

5 myths about face masks under the microscope

Medical students against male supremacy

Mali: Two peacekeepers dead after dawn attack, several injured – UN Mission

A Sting Exclusive: “Sustainable development goals: what role for business?” Commissioner Mimica asks live from European Business Summit 2015

Medical ethics in the age of the social media influencers

Empowering people living with HIV ‘will end the epidemic’, says AIDS agency chief

5 things we get wrong about young people, according to a US study

Europe votes against GMOs but the Council votes for TTIP

Five ways individuals can help save the oceans

Scientists have a new suggestion to create more climate-friendly cows

IMF: When high yield goes boom

It’s time to build a responsible media supply chain

Europe eyes to replace US as China’s prime foreign partner

Myanmar: Departing UN rights expert still hopeful for democratic transition

European Labour Authority ready to start working in October as decision is taken on new seat

‘The best-selling brand today is fear’: UN chief highlights urgent need to address global ‘deficit of trust’

FROM THE FIELD: Going the extra mile with vaccines

EU-US Privacy Shield data exchange deal: US must comply by 1 September, say MEPs

These are the UK’s biggest trading partners

How technology can help us achieve universal healthcare

Conflict of interest and misuse of EU funds: The case of Czech PM Babiš

Towards a stronger and more resilient Schengen area

4 principles for securing the digital identity ecosystem

7 ways business can be agents for peace

EU budget 2022: Speeding up Europe’s recovery and progressing towards a green, digital and resilient future

SDGs and the historical and economic impact on Brazilian health

Rich economies not a promise of education equality, new report finds

More Stings?

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