The European Commission and the European Investment Bank Group announced on Friday 25 November that they are preparing a joint financial instrument that will combine rural development funding with the European fund for strategic investments (EFSI), the core of the Juncker Commission’s investment plan for Europe.
Using the EFSI guarantee in combination with European structural and investment funds (ESI funds) will increase the firepower of the support, according to comments from the Commission at the 7th Fi-Compass conference. Details of the initiative, including the launch of pilot projects in several member states over the next two years, will be announced in due time.
Commission Vice-President Jyrki Katainen said: “EFSI financing is available to support and already supports agricultural SMEs and economically and technically viable projects in the agri-food sectors”. Agriculture Commissioner Phil Hogan stated that financial instruments of this kind can dramatically enhance the capacity of farmers and agri-businesses to innovate, grow, export and create jobs. The initiative “is a great new opportunity that offers excellent possibilities for attracting private capital”, he argued. (Original version in French by Lionel Changeur)