European Fund for Strategic Investment: first round of negotiations successfully concluded
On 7 May the Council of the EU and the European Parliament held their third political meeting to discuss the legislative proposal on the set up of the European Fund for Strategic Investments (EFSI) that will bring more than 315 billion euro in new investments across the EU. The discussions focused on important concepts of additionality, eligibility criteria, general objectives and investment guidelines.
The objective of the Latvian Presidency is to ensure that investment operations to be supported by the EU guarantee are selected on the basis of their merits, most notably supporting the Union policies, economic and technical viability and the ability to mobilise private capital.
Speaking on behalf of the Council, the Latvian Presidency underlined the urgency with which the Europe needs effective investments that help to address market failures in the EU economy, and a Fund that is financed within the limit of the Union's own resources and in compliance with the multiannual budget of the EU.
Today's political trilogue concludes the first round of negotiations, paving the way to launch discussions on the new proposals, with a view to reaching the final agreement between the Council and the Parliament by the end of May.
The next trilogue will take place on 13 May.