There is no recovery from the Coronavirus without investment and the InvestEU Programme that is about to be approved in the European Parliament is an excellent tool for creating jobs.
“EU governments must not waste the additional value that InvestEU can represent for strengthening both public and private investment. The revised programme will make it possible for Member States to add a guarantee in the national part of InvestEU to be exclusively dedicated to their own country”, says José Manuel Fernandes MEP, EPP Group Spokesman on Budgets, ahead of today’s parliamentary debate and vote on the new programme.
“Such a guarantee can be financed through cohesion policy funds (up to 5%) and through the national part of the Recovery and Resilience Facility (up to 4%) put in place to help our economies recovery. We demand that it is included in their national recovery plans and partnership agreements. So, this is the time for EU governments to clearly plan what they intend to do in the coming years”, Fernandes underlined.
“If the recovery is to succeed, it must build on strong cooperation between the public sector and private enterprises”, said Markus Ferber MEP, EPP Group Spokesman on Economic Affairs.
“There has never been a more urgent time for investment. InvestEU is an essential part of the EU’s strategy to kick-start the recovery and pave the way for a more competitive European economy by enabling strategic investments in research, innovation and infrastructure. InvestEU will particularly focus on small and medium-sized companies, which are the growth engine of our economy. One thing is very clear: if we want to revive the European economy and set it up for the challenges of the future, we cannot rely on public money alone. This is why an instrument such as InvestEU, which can leverage private investment as well, is so important”, Ferber concluded.
Over the next seven years, InvestEU is expected to mobilise at least €372 billion in public and private investment through a total risk-bearing capacity of €32.6 billion (€26 billion from the EU budget guarantee + €6.5 billion in financial contributions expected from all implementing partners).