Brussels, 05/06/2015 (Agence Europe) - On Thursday 4 June, the Latvian Presidency of the Council of the EU and representatives of the European Parliament agreed on the final details in the interinstitutional talks on the draft regulation to establish the European Fund for Strategic Investments (EFSI).
The EFSI is the financial arm of the Juncker investment plan that is expected leverage more than €315 billion in additional investment over three years. It will support projects selected by the EIB and provide them with a public guarantee (from the EU budget and the EIB) against any initial losses (see EUROPE 11323).
“The selection of EFSI projects will be based on compliance with EU policies, economic viability and their potential to attract private investment,” explains the Latvian Presidency in a press release, adding: “The compromise provisionally agreed will maintain adequate funding for science and infrastructure through the Connecting Europe Facility and the Horizon 2020 frameworks, while ensuring transparent and stable funding for the Fund's objectives.” (Mathieu Bion)