The European Fund for Strategic Investments (EFSI) aims to overcome the current investment gap in the European Union (EU) by mobilising private financing for strategic investments which the market cannot finance alone.
Financing will be focused on investments in infrastructure and innovation (managed by the European Investment Bank - EIB), as well as finance for Small- and Medium- sized Enterprises - SMEs (managed by the EIB and the European Investment Fund - EIF).
Over the next three years, the Investment Plan is expected to mobilise at least €315 billion in additional investment in Europe.
The EFSI will be operational by September 2015.
The EU will provide €21 billion in initial funding – a €16 billion guarantee, to be authorised via an EU Regulation - and the EIB's own resources (€5 billion). The fund will be set up within existing EIB Group structures, allowing it to start quickly and to benefit from the EIB's experience.
Projects eligible for financing must:
- have high societal and economic value contributing to EU policy objective;
- attract private capital by addressing market failures;
- come on top of existing EIB and EU financing possibilities;
- be economically and technically viable;
- be consistent with EU state aid rules.
Some examples of key growth-enhancing areas being targeted by the EFSI are:
- Infrastructure (transport, energy, digital, environment, urban and social sectors);
- Education and training, health, Research &Development (R&D), Information & Communication Technologies (ICT), innovation;
- Renewable energy and energy efficiency;
- Support to SMEs and mid-cap companies.
Project promoters can contact the EIB and EIF directly – they do not need to pass via a local authority or government.
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