Regulation (EU) 2021/523 establishing the InvestEU Programme

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Series Details L 107, Pages 30-89
Publication Date 26/03/2021
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Regulation (EU) 2021/523 - adopted by the co-legislators on 24 March 2021 - setting up the InvestEU Programme for the period between 2021-2027. It amends Regulation (EU) 2015/1017.

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In the framework of the Multiannual Financial Framework (MFF) 2021-2027, the European Commission detected the need for an investment programme catering for cross-cutting objectives in terms of simplification, flexibility, synergies and coherence across relevant policies of the European Union (EU). It aims to bring together a multitude of previous financial programmes and expand the model of the Investment Plan for Europe.

The original proposal was tabled by the European Commission in 2018, but investment needs increased significantly due to the impact of the COVID-19 (coronavirus) pandemic on the European economy and the risk of an asymmetric recovery across the EU and within Member States. In the context of the revamped proposals on the MFF 2021-27, the Commission tabled a revised proposal for the InvestEU Programme on 29 May 2020. It increases the initially proposed financial envelope and amends its scope to reflect the specific post-pandemic needs of the European economy. The new proposal fully reflects the elements already agreed upon by the co-legislators when negotiating the original proposal. In order to cater to the future needs of the economy and to secure or maintain strategic autonomy in key sectors, a new window is added to the programme - the strategic European investment window.

The programme is to stand on four legs:

  • the InvestEU Fund providing for the EU guarantee;
  • the InvestEU Advisory Hub providing in particular project development-related technical assistance;
  • the InvestEU Portal providing an easily accessible data-base for promoting projects in search for financing;
  • blending operations.

Representatives of Member States in the Council of the European Union agreed on a partial mandate for negotiations (excluding financial provisions) on 4 November. The European Parliament's relevant committee adopted its negotiating position on 28 October, which was endorsed by the plenary on 13 November. An informal agreement between the co-legislators on a compromise text was reached on 7 December. The Parliament formally endorsed it on 9 March 2021, followed by the Council on 17 March. The Act was signed by the co-legislators on 24 March 2021 and published in the Official Journal on 26 March.

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Related Links
Commentary and Analysis
EPRS: Briefing, February 2021: InvestEU programme: The EU's new investment support scheme

EUR-LEX: COM(2020)403: Proposal for a Regulation establishing the InvestEU Programme
European Parliament: Legislative Observatory: Procedure File for Proposal on InvestEU Programme (2020/0108(COD))
European Parliament: Legislative Train Schedule: Multiannual Financial Framework - InvestEU Programme 2021-2027 Official Website of the InvestEU Programme
European Commission: Questions and Answers: The proposed InvestEU Programme (29 May 2020)
European Commission: Remarks by Commissioner Gentiloni at the press conference on an enhanced InvestEU Programme and its new Strategic Investment Facility (29 May 2020)
European Commission: Discours du Commissaire Breton lors de la conférence de presse sur l'accroissement de la capacité d'InvestEU (29 May 2020)
European Parliament: Press Release, 29/10/2020: InvestEU Fund: boost for sustainable, innovative and social investment
Council of the European Union: Press Release, 04/11/2020: InvestEU: Council agrees its position on revised Commission proposal
European Parliament: Press Release, 13/11/2020: InvestEU Fund for sustainable and social investment, MEPs ready for negotiations
EPP Group: News, 07/12/2020: InvestEU to boost investment and create jobs
European Commission: Press Release, 08/12/2020: Commission welcomes political agreement on InvestEU
Renew Europe Group: News, 08/12/2020: With InvestEU, the EU kicks off a better connected Europe, with a carbon-free and more competitive economy
Council of the European Union: Press Release, 16/12/2020: InvestEU: Council greenlights provisional agreement reached with the Parliament
European Parliament: Headlines, 04/03/2021: InvestEU: EU programme to encourage investment
European Parliament: Press Release, 09/03/2021: Parliament adopts InvestEU programme for strategic and innovative investments
European Commission: Press Release, 09/03/2021: Commission welcomes European Parliament's approval of InvestEU
European Commission: Questions and answers: InvestEU Programme (9 March 2021)
S&D Group: Newsroom, 09/03/2021: InvestEU gets green light from European Parliament. It’s time for the money to go to the people!
EPP Group: Newsroom, 09/03/2021: InvestEU is the tool to invest heavily in jobs
Council of the European Union: Press Release, 17/03/2021: InvestEU programme adopted by Council

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