On Monday 7 March, the European Commission and the EIB Group signed the agreement on which the management of the €26.2 billion public guarantee from the European Union budget under the InvestEU programme, the successor to the ‘Juncker’ investment plan for the period 2021-2027, will be based (see EUROPE 12674/8).
This public guarantee, which will be used to cover possible losses on private investment projects supported under the InvestEU programme, will be managed 75% (€19.65 billion) by the EIB Group and 25% by national promotional banks and international financial organisations.
The Commission says the first projects to receive a public guarantee under InvestEU will be announced in April. The four priority areas identified are: ‘sustainable’ infrastructure, research and innovation, SMEs, and social infrastructure and skills development.
On Monday, the Commission and the EIB also signed an agreement to provide technical, financial and strategic expertise to project promoters, local authorities and financial intermediaries, up to a total of €270 million under the ‘InvestEU Advisory Hub’. (Original version in French by Mathieu Bion)