|Author (Corporate)||European Commission: DG Economic and Financial Affairs|
|Series Details||COM (2020) 403|
Legislative initiative published by the European Commission on 29 May 2020, which replaces the original proposal for the establishment of the InvestEU Programme in the framework of the revamped proposals on the Multiannual Financial Framework (MFF) 2021-2027, in light of the consequences of the COVID-19 (coronavirus) pandemic.
In the context of the MFF 2021-2027, there is a need to provide an investment programme to cater for cross-cutting objectives in terms of simplification, flexibility, synergies and coherence across relevant policies of the European Union (EU). Investment needs increased significantly because of the impact of the pandemic on the European economy and the risk of an asymmetric recovery across the EU and within Member States.
Hence, the European Commission decided to withdraw its original proposal for the InvestEU Programme and put forward a revised initiative, increasing the initially proposed financial envelope and amending 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 proposal was unveiled on 29 May 2020, as part of the EU Recovery Plan and alongside revamped proposals for the Multiannual Financial Framework (MFF) 2021-2027. Representatives of Member States in the Council of the European Union agreed on a partial mandate for negotiations 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.
|Subject Categories||Economic and Financial Affairs, Internal Markets|
|Subject Tags||Investment Plan for Europe | Juncker Plan, Multiannual Financial Framework [MFF]|
|Keywords||European Fund for Strategic Investments [EFSI], MFF 2021-2027
|International Organisations||European Union [EU]|