The Economic and Financial Affairs Council met (12/05/15) to discuss progress on a regulation establishing a European fund for strategic investments (EFSI). The aim is to finalise negotiations by the end of May, so as to enable new investments to begin as early as mid-2015, as planned.
The EFSI will be established within the European Investment Bank and will support projects in a broad range of areas, including transport and infrastructure, The fund will enhance risk-bearing capacity and will be built on €16 billion in guarantees from the EU budget and €5 billion from the EIB. Projects financed must address EU–added value, economic viability and value and be able to start within the next three years. Member States have submitted initial lists of projects for funding under the EFSI (ref: EIB website).