Commission takes final steps to get European Fund for Strategic Investments (EFSI) ready.
On 22 July 2015 the European Commission adopted the final measures to ensure that the European Fund for Strategic Investments (EFSI) is running by early autumn 2015:
- The Communication from the Commission to the European Parliament and the Council “Working together for jobs and growth: The role of National Promotional Banks (NPBs) in supporting the Investment Plan for Europe” http://eur-lex.europa.eu/legal-content/EN/TXT/?qid=1438075411849&uri=COM:2015:361:FIN
- The agreement on the working methods between the Commission and the EIB, as foreseen in the Regulation for a European Fund for Strategic Investments http://eur-lex.europa.eu/legal-content/EN/TXT/?uri=OJ:L:2015:169:TOC
- The confirmation of the projects pre-financed or ”warehoused” by the EIB which will receive the backing of the EFSI guarantee. In line with the European Council conclusions of December 2014, which invited the EIB to “start activities by using its own funds as of January 2015”, the latter announced several projects to be pre-financed in the context of the Investment Plan for Europe while the adoption of the EFSI Regulation was pending
- The appointment, together with the European Investment Bank (EIB), of the four members of EFSI’s Steering Board: Ambroise Fayolle, Vice-President responsible for Innovation, EIB; Maarten Verwey, “Structural Reform Support Service” in the Secretariat General, European Commission; Gerassimos Thomas, DG Energy, European Commission; Irmfried Schwimann, DG Competition, European Commission. The Commission alternate members are Benjamin Angel, DG Economic and Financial Affairs; Nicholas Martyn, DG Regional Policy; Robert-Jan Smits, DG Research and Innovation.
- Final arrangements to launch the European Investment Advisory Hub (EIAH) http://ec.europa.eu/priorities/jobs-growth-investment/plan/eiah/index_en.htm
- Decision on the management and main elements of the European Investment Project Portal (EIPP) http://ec.europa.eu/priorities/jobs-growth-investment/plan/eipp/index_en.htm
- The delegated act for a Scoreboard of indicators which the independent Investment Committee will use when deciding whether a project proposal fits the criteria to receive backing of the EU guarantee (EFSI) http://ec.europa.eu/priorities/jobs-growth-investment/plan/docs/150722_scoreboard-delegated-act_en.pdf
For further information have a look to the Commission’s respective press release from 22 July 2015: http://europa.eu/rapid/press-release_IP-15-5420_en.htm.
European Fund for Strategic Investments (EFSI) intensifies COSME funding for SMEs
Another part of this package includes enhancing funding opportunities under the COSME Loan Guarantee Facility (LGF) with the support of the European Fund for Strategic Investments (EFSI). To make this happen, Ms Marjut Santoni, European Investment Fund (EIF) Deputy Chief Executive and Mr Daniel Calleja Crespo, Director-General of the Directorate-General for Internal Market, Industry, Entrepreneurship and SMEs signed an amendment on 22 July 2015 to the COSME Delegation Agreement. This will enable small and medium-sized enterprises (SMEs) to receive financing supported by the LGF earlier than was previously possible.
For further information have a look to the Commission’s respective press release from 22 July 2015: http://ec.europa.eu/growth/tools-databases/newsroom/cf/itemdetail.cfm?item_id=8370&lang=en&tpa_id=0&title=European-Fund-for-Strategic-Investments-adds-firepower-to-COSME-funding-for-SMEs