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EU legislators agree on EFSI regulations

Xinhua, May 29, 2015 Adjust font size:

European Union (EU) legislators on Thursday agreed on the regulations for the European Fund for Strategic Investments (EFSI), the core of the Investment Plan for Europe.

This means that the Fund will become operational and start financing projects at the end of the summer.

After a long night of trilogue between the European Commission, the European Parliament and the Council, the co-legislators agreed upon the final outstanding issues, including in particular the budgetary allocations to the EFSI guarantee fund, keeping to the ambitious timetable set out in January.

"I'm very pleased that we reached an agreement this morning with co-legislators for EFSI. We are counting on Parliament and Council to give the final approval in June so we can have EFSI up and running in Autumn," said Vice-President Jyrki Katainen, responsible for Jobs, Growth, Investment and Competitiveness.

Finance ministers of EU members are now expected to approve the Regulation at the ECOFIN Council on June 19, and the European Parliament plenary vote on the Regulation is now expected to take place on June 24, allowing the EFSI to be operational by September as planned. Enditem