Brussels, 13/01/2015 (Agence Europe) - It will indeed be possible to combine the European Structural and Investment Funds (ESIF) with the European Fund for Strategic Investments (EFSI) to pay for projects, the formal legislative proposal presented by the European Commission on Tuesday 13 January confirms.
In particular, the Commission recommends that the structural funds be put to better use in the form of innovative financial instruments, such as loans or guarantees, rather than simply as grants. It states in its proposal that the member states will be able to use the structural funds to pay for projects eligible for the new investment fund. However, the Commission stresses that this use of the structural funds will not count as a national contribution to the fund.
The Commission also urges the member states and the regional authorities to make the best possible use of the structural funds to support investment. The Commission hopes that the use of the structural funds in this way will double in 2014-2020. By doubling the level of innovative instruments and creating a multiplying effect, the Commission calculates that an extra €20 billion could be freed up between 2015 and 2017 (see EUROPE 11206). It was possible to make €12 billion available under the previous financial programming period. The Commission adds that structural funds not absorbed in 2007-2013 can also be used in this way (see other article). (MD)