On Wednesday 8 November, the ambassadors of the member states to the EU (Coreper) approved the inter-institutional agreement aiming to double the duration and firepower of the 'Juncker' investment plan.
The provisions on the details on financing the extension of the public guarantee granted by the EU Fund for Strategic Investments (EFSI) and the competences of the future member of the steering board to be appointed by the European Parliament were also approved by the member states (see EUROPE 11895).
The result of a compromise, the extension of the EFSI public guarantee from €16 to €26 billion out of the EU budget will be paid for as follows: - €275 million from the Connecting Europe Facility (CEF); - €125 million in financial flows (loan repayments, interest/capital income, etc.) from the CEF; - €25 million from the Marguerite energy and climate fund; - €525 million in income generated by the EFSI; - €150 million to be taken from the underused budgetary margins under the ceiling of one or more headings of the multi-annual financial framework 2014-2020.
The agreement also provides for the 'Juncker' investment plan, which aims to draw down €500 billion in new investments between 2018 and the end of the current multi-annual financial framework, to be able to invest in innovative projects in the cultural and creative industries as well as in the economy and social infrastructure.
The conference of the presidents of the political groups of the European Parliament will decide on Thursday whether the extension of the 'Juncker' investment plan will be included on the agenda of the November or the December plenary.
For the text of the agreement, see: http://bit.ly/2iDT7DT . (Original version in French by Mathieu Bion)