In an own-opinion report adopted on Tuesday 25 April (with 32 votes in favour, 2 against and 2 abstentions), MEPs from the European Parliament's regional development committee (REGI) say they want to put up safeguards to avoid the European Fund for Strategic Investments (EFSI) "siphoning" off funding from the European Structural Investment (ESI) Funds.
"I agree that we need to enhance the combination between ESI-Funds and EFSI. However, I am not ready to give up cohesion policy resources to cover the risks of EFSI projects. I want to send out a clear signal that our committee is ready to protect cohesion policy resources for the benefit of our citizens”, said Constanze Krehl (S&D, Germany), the rapporteur for the opinion. "Rather than becoming another market-based investment instrument, cohesion policy should continue to serve the citizens, SMEs and local authorities of the whole EU who currently benefit from it", said Monika Vana (Greens/EFA, Austria).
The MEPS essentially gave their agreement to strengthening the combination between the EFSI and ESI Funds, while ringfencing cohesion policy. Member states will be able to use the ESI Funds to contribute to financial instruments as part of the EFSI only with the aim of attracting further investment from the private sector in order to reach the objectives of inclusive, sustainable and smart growth (Article 39).
The growing place of financial instruments is of extreme concern to regional actors and MEPs, who prefer the model of subsidies (see EUROPE 11750).
The budgets committee (BUDG) is expected to adopt the 'omnibus' regulation in May. (Original version in French by Pascal Hansens)