Warning comes as the EU looks to expand investment programmes, including for innovation, in push for greater competitiveness
Photo credits: Jakub Żerdzicki / Unsplash
EU auditors have told the European Commission to do better in tracking the impact of its investments. The warning comes as the EU is preparing to increase its use of investment programmes, for example to support the roll-out of clean technologies and the development of technologies with both civil and military applications.
The auditors were looking into the €26 billion European Fund for Strategic Investments, also known as the Juncker plan, which was launched in 2015 to address a slump in European investment following the 2008 financial crash. Largely implemented by the European Investment Bank (EIB), the fund was used to lower the risk of investment in strategically important industrial projects.
The auditors’ report, published on March 19, says that the fund achieved its broad goal of helping to fill the EU investment gap. However, the amount…
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