The plenary of the European Parliament today backed a new InvestEU Programme - a single structure bringing together a multitude of EU financing programmes. The aim is to boost job creation and support investment and innovation by making EU funds more efficient, flexible and simpler. Thanks to the pressure of the S&Ds, it will mobilise €650 billion in additional investment for the period 2021-2027. The InvestEU Fund will support investments in sustainable infrastructure; research, innovation and digitisation; SMEs, as well as social investment and skills.
S&D MEP Roberto Gualtieri, Parliament’s co-rapporteur on InvestEU and chair of the economic and monetary committee in the European Parliament, said:
“This is a decisive step towards creating jobs and mobilising investments to support growth and enhance cohesion.
“With investments in sustainable infrastructure, research and innovation still being inadequate, InvestEU will continue to improve the positive experience of the European Fund for Strategic Investment (EFSI), helping to bring strategic and long-term benefits to key areas that are underfunded, and thereby prove to be a powerful instrument for improving the competitiveness and socio-economic convergence of the Union.
“We made sure that the InvestEU Fund would support social infrastructures and programmes, and fully address market failures, including with possible conditional terms on the price of the guarantee. The Programme should continue to facilitate access to finance for SMEs, the cultural and creative sectors and climate actions.”
S&D negotiator on InvestEU and coordinator on budget, Eider Gardiazabal Rubial MEP, said:
“The S&D Group was the one to push for a real public investment plan to relaunch the European economies. The EFSI has been a first success. It's now time for a renewed EU strategy for long-term investment planning. InvestEU is that new kick to drive our economies toward the right direction.
"We are happy that our Group also managed to introduce higher investments for social policies and developing new skills. We want to make sure that this transition to a more sustainable economic model, using the latest technologies and innovation, does not leave anyone behind but on the contrary, provides better quality jobs for Europeans."
S&D spokesperson on this file in the industry and energy committee, Jeppe Kofod MEP, added:
"We've taken a great step towards strengthening investments in Europe at a time where investments are critically low. I am happy that we agreed a text that sets ambitious climate and sustainability standards for our future investments. As policymakers we have an obligation to make sure that public money is spend on the technologies and tools that help us secure that Europe leads in possibly the biggest struggle of our time: the fight against climate change."