The European Commission welcomes yesterday’s vote by the European Parliament to agree its position on InvestEU, the proposed programme to boost private and public investment in Europe in the next long-term EU budget.
The vote marks an important step towards the creation of the programme, which will bring together under one roof the EU’s financial instruments for investment in the European Union and should trigger at least €650 billion of investment. The Commission now calls on Member States to swiftly agree their position to be able to start the discussions between the three institutions. Vice-President Jyrki Katainen, responsible for Jobs, Growth, Investment and Competitiveness, said: “Europe needs more investments to boost jobs, innovation and skills. With InvestEU we are taking the game-changing model of the Investment Plan one step further, expanding it to the whole range of EU funding programmes, making financing easier to access and placing a greater focus on climate action, social inclusion and cohesion. After the Parliament’s vote it is important to keep up the momentum. Member States should follow suit quickly.” The Commission’s proposal for InvestEU builds on the success of the Investment Plan for Europe – the Juncker Plan – which has already mobilised over €371 billion of investments since its launch. A press release is available here.