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The InvestEU political agreement is a new initiative by the European Union that aims to mobilize investment and innovation across the continent. It is a partnership between the EU and private investors, intended to fund projects and initiatives that will contribute to the growth of the EU economy while promoting a sustainable future.
The InvestEU program is a successor to the European Fund for Strategic Investments (EFSI), which was established in 2015. EFSI was designed to encourage private investment in infrastructure projects and small and medium-sized enterprises (SMEs) that had been overlooked by traditional lenders. InvestEU embraces this spirit, but with the added benefit of sustainability.
One of the primary objectives of InvestEU is to support the EU’s Green Deal and its climate goals. The Green Deal is a comprehensive plan to make Europe the first climate-neutral continent by 2050 and to achieve this, the EU must reduce its greenhouse gas emissions by at least 55% by 2030. InvestEU helps to achieve this by supporting sustainable infrastructure projects, such as renewable energy initiatives, sustainable transport, and energy efficiency programs.
InvestEU will also provide support for SMEs, which are the backbone of the European economy. SMEs account for 99% of all businesses in the EU and provide nearly 70% of all jobs. However, due to their size, SMEs often struggle to access the financing they need to grow. InvestEU aims to help bridge this gap by providing a wide range of financial products, including loans, guarantees, and equity financing.
The InvestEU program hopes to leverage public and private investment of around €400 billion over the next seven years. The EU will provide a budget guarantee of €26.2 billion for InvestEU, which will enable the European Investment Bank to raise around €200 billion while attracting additional private sector involvement.
In conclusion, the InvestEU political agreement is an ambitious and innovative initiative that aims to create a sustainable future for Europe while promoting economic growth. It seeks to address the challenges of climate change by supporting green infrastructure projects while also providing much-needed financial support for SMEs. With its promise of mobilizing significant investment and encouraging private sector involvement, InvestEU has the potential to make a meaningful impact on the EU economy for years to come.