- The InvestEU Investment Committee approves EU guarantee for €1.9 billion of investment
Following the signature of the InvestEU Guarantee Agreement between the European Commission and the European Investment Bank (EIB) in March, the InvestEU Investment Committee confirmed on 1 April the EU guarantee for EIB financing totalling €1.9 billion. The backed investments will support clean energy, education, improved internet connection, water and wastewater infrastructure. The first projects to benefit from the new EU guarantee fall within InvestEU’s social investments and skills window and sustainable infrastructure window.
The financing backed by the EU guarantee will support investments across the EU, including in Finland, Greece, Ireland, Italy, Poland, Portugal and Spain. Details on the projects will be published in the coming weeks on http://investeu.europa.eu
The InvestEU programme consists of three components: the InvestEU Fund, the InvestEU Advisory Hub, and the InvestEU Portal. By providing a €26.2 billion EU budgetary guarantee to support finance and investment operations, the InvestEU Fund will attract public and private financing aiming to mobilise at least €372 billion in additional investment by 2027, benefitting people and businesses across Europe. The EIB Group will implement 75% of the EU budget guarantee.
The InvestEU programme provides the EU with crucial long-term funding in support of a sustainable recovery, helping mobilise private investments for the EU's policy priorities, such as the European Green Deal and the digital transition.
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This article was first published on 4 April by European Investment Bank.