Successful European fund for strategic investments to be extended

The European Fund for Strategic Investments (EFSI) is at the heart of the European Commission's Investment Plan. It is managed by the EIB Group and is functioning to deliver on mobilising at least €315 billion in additional investments in the real economy by mid-2018.

The EFSI provides a first loss guarantee, enabling the EIB to invest in more projects, sometimes going for riskier project than it would have otherwise, and to invest sooner than it would have without the EFSI.

The EFSI is already active in 26 member states and is anticipated to generate €100 billion in investment with the approvals given so far.

It has been small and medium-sized enterprises (SMEs) which have in particular benefited from the EFSI so far.

To encourage more EFSI activity in the member states lagging behind so far, the EIB and the EC will increase their local outreach.

"The Investment Plan is working and defying the pessimists. The European Fund for Strategic Investments is creating jobs and triggering investments in the real economy every day. That is why we propose to extend it beyond 2018. Let's be ambitious in getting Europe investing again," EC president Jean-Claude Juncker said.

"Together with the EIB we have achieved a lot in the past 12 months. We have supported innovative energy projects, healthcare centres, urban development and high-speed broadband. Close to 150,000 SMEs have access to new financing," vice-president Jyrki Katainen, who is responsible for jobs, growth, investment and competitiveness, added. “We have created a hub which provides advisory services and technical support to project promoters. We have launched a new portal for promoters to showcase their projects worldwide to investors. But there is more to do: we must continue to deepen the single market – the EU's unique selling point – and member states must work on removing barriers to investment”

In a statement, the EC announced that today was the launch of another element of the Investment Plan, the European Investment Project Portal (EIPP).

This is an online platform bringing together European project promoters and investors from the EU and beyond.

According to the EC, the portal will increase the visibility of projects to invest in across Europe.

“This is something that investors asked for, and the Commission delivered.”