Investment Plan for Europe: evaluations give evidence to support its reinforcement
EU News 388/2016
Brussels, 29 November 2016
Commission takes on board findings of three evaluations, in line with its proposal to reinforce and expand the European Fund for Strategic Investments (EFSI), the core of the Investment Plan for Europe.
The Investment Plan for Europe has already proven useful in encouraging a sustainable increase in investment across Member States. Given the concrete results achieved since the Commission unveiled the Investment Plan two years ago, President Jean-Claude Juncker presented a proposal in his State of the Union address of 14 September to reinforce the EFSI to boost investment further.
Three evaluations followed that proposal, including an independent evaluation that was foreseen when the EFSI was set up. Their findings are summarised in today's Commission Communication and will feed into the legislative debate on the Commission's proposal with the European Parliament and Member States. Member States committed at a summit of 27 in Bratislava on 15 September as well as at the October European Council to agreeing their negotiating position on the Commission's proposal at the Ecofin meeting of 6 December, taking into account the independent evaluation.
The Commission published its report on 14 September. The European Investment Bank – the Commission's strategic partner in the Investment Plan – presented its evaluation on 5 October. Finally, global accounting firm EY published an external, independent evaluation on 14 November. All three reports find that the EFSI has already increased access to financing as well as mobilised private capital, and identified areas in which the Investment Plan could be enhanced.
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