European Parliament approves Commission’s initiative to promote jobs and growth
MEPs voted in favour of the new programme for supporting investment and accessing to finance. The funding project will substitute the European Fund for Strategic Investments, which was set up to help recovery from the financial crisis. Nowadays, despite an amelioration of the situation, the programme includes some instruments for easing access to investment, including InvestEU Fund, the InvestEU Advisory Hub and the InvestEU Portal.
The Parliament approved some amendments such as (1) an increase of the budget to 40.8 billion (current prices); (2) a more precise assessment of the roadmap and objectives of the projects, with a particular attention to climate-related projects; (3) the introduction of a Steering Board; and (4) better accountability to European citizens through reporting on project, impact and operations.
MEPs are now ready to start negotiations with EU ministers with the aim to reach a first reading agreement.