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European Parliament gives the go ahead for future EU funding programme InvestEU

On the 18th April, the European Commission welcomed the European Parliament’s vote on InvestEU, the programme to boost investment in Europe in the next long-term EU budget. This vote brings InvestEU one step closer to its creation.

InvestEU will make EU funding for investment projects simpler to access and more effective, since it will bring together under one roof and with a single brand the European Fund for Strategic Investments and 13 other EU financial instruments currently supporting investment in the EU.

President of the European Commission Jean-Claude Juncker said: “The Investment Plan put Europe back in business and delivered on this Commission's number one priority: creating jobs and growth. But we can do more and that's what InvestEU is about. By making smart use of the EU's budget, InvestEU will help Europe stay an attractive place for investors worldwide. Over the next decade, the programme will unlock at least €650 billion for Europe to invest in its future, its economy and its people.”

InvestEU is a partnership with the European Investment Bank Group (EIB), the EU Bank, and will be open to other implementing partners as well. The budget details of InvestEU are still dependant on the overall agreement of the next long-term EU budget which the Commission proposed in May 2018.