Opinion Factsheet  

The InvestEU Programme

Opinion Number: CDR 3766/2018
Group: EPP (European People's Party)
Commission: ECON
Status: Adopted
Date: 06/12/2018

 welcomes the European Commission's ambition to further support investment in Europe, by building on the experience acquired with the European Fund for Strategic Investments (EFSI) and the Investment Plan more broadly, through its proposal establishing the InvestEU Programme;

 demands that the economic, social and territorial cohesion of the Union be included among the objectives of the InvestEU Programme, in particular since the proposal's legal basis comprises the third paragraph of Article 175 of the Treaty on the Functioning of the European Union which focuses on cohesion; believes it is of the utmost importance that InvestEU be geographically balanced and that it be targeted as a matter of priority at regions suffering from a significant and persistent lack of investment and at particularly vulnerable and remote areas such as the outermost regions;

 reaffirms its position that InvestEU should neither replace nor compete with existing EU social cohesion mechanisms;

 defends the principle that the managing authorities of the European Structural and Investment Funds (ESIF) be able to pay up to 5% of those funds to the InvestEU programme on a voluntary basis and in accordance with the principles of a code of conduct for the partnership and multi-level governance to be set out in Article 6 of the framework regulation laying down common provisions for ESIF. This contribution has the potential to address country-specific or region-specific market failures and sub-optimal investment situations in a way that a centralised EU tool cannot;

 calls on the co-legislators to keep the exemption for public implementing bodies from fees charged for services of the InvestEU Advisory Hub, as is the case for the existing EIAH under Article 14(4) of the EFSI Regulation, and which is crucial to help foster quality public investment, in particular among smaller public entities and those with less experience of financial instruments and complex projects.



Council discusses InvestEU

On 22 Janurary the Council in its ECOFIN formation discussed the InvestEU proposal.
Ministers focused their discussion on two main issues:
• the governance structure of InvestEU, including the establishment of a steering board and its guiding principles
• the financial guarantee provided by the EU to partners other than the EIB: 25% of the EU guarantee should be set aside for institutions other than the EIB. Ministers discussed the principles underpinning the allocation of that part of the guarantee.

22 Jan

Plenary adoption

On 6 December 2018 the opinion on InvestEU was adopted by the CoR Plenary.

06 Dec

Discussion and adoption of the draft opinion in ECON

During its meeting of 23 October 2018 the ECON Commission adopted the rapporteur's draft opinion on InvestEU. Before the vote, a discussion took place with ECON members as well as representatives of the European Commission and the EIB.

23 Oct

Conference on "Social Infrastructure Investment: from local innovative ideas to investEU Project Funding"

On 18 October 2018, the CoR rapporteur on InvestEU, Mr Agorastos, was invited to take part in a conference on "Social Infrastructure Investment: from local innovative ideas to investEU Project Funding".
The conference was jointly organised by several major EU-level organisations active in the social field: the EASPD, Housing Europe, Eurohealthnet, FEANTSA, the Lifelong Learning Platform and AGE Platform Europe.
Mr AGorastos took part in the panel discussion: "What next and how to
get ready for InvestEU?", and outlined his views on the proposed programme.

18 Oct

Meeting with EESC rapporteur

On 10 October, the CoR rapporteur met with Mr Zahradnik, rapporteur on InvestEU for the European Economic and Social Committee (EESC), in order to discuss the InvestEU proposal, their respective views on it, and the ongoing procedures in the two consultative committees.

10 Oct

Draft opinion of the Rapporteur

On 2 October 2018 the CoR rapporteur, Mr Agorastos, published his draft opinion on InvestEU.
The document will be discussed and amended by members of the ECON Commission and is scheduled for adoption in ECON on 23 October 2018.

02 Oct

Stakeholders' consultation on the "InvestEU Programme"

In preparation for this opinion, the rapporteur, Mr Konstantinos Agorastos (EL/EPP), held an open stakeholder consultation on InvestEU on 26 September 2018 at the CoR in Brussels. Representatives of the European Commission (DG ECFIN) and of the European Investment Bank were also present to deliver short statements on the InvestEU proposal and to take part in the discussion.

26 Sep

Bilateral meetings of the rapporteur

On 17 and 18 September, the CoR rapporteur Mr Agorastos held a number of bilateral meetings with representatives of key institutions and stakeholders in preparation for his opinion on InvestEU. These included discussions with: the European Commission (DG ECFIN), the European Investment Bank (EIB), the European Long Term Investors association (ELTI) and the European Association of Public Banks (EAPB).

17 Sep

Appointment of CoR Rapporteur on InvestEU

During its meeting of 21 June 2018, the ECON Commission appointed Mr Konstantinos Agorastos as its rapporteur for the opinion on the InvestEU Programme.

Mr Agorastos, is the Governor of the Greek Region of Thessaly and is affiliated with the EPP group.

21 Jun

Publication of the InvestEU Proposal

On 6 June 2018 the European Commission published its proposal to establish the InvestEU Programme.
This proposal is part of the Commission's plans for the next Multiannual Financial Framework for 2021-2027.

06 Jun