InvestEU Programme must be a guarantee for job creation, growth and innovation, say S&Ds

The Socialists and Democrats led today a vote in the economic and monetary affairs committee to establish the InvestEU Programme – a single structure bringing together a multitude of EU financing programmes. InvestEU will boost the creation of jobs and support investment and innovation in the EU by making EU funds more efficient, flexible and simpler. It aims to mobilise €650 billion in additional investment for the period 2021-2027. The InvestEU Fund will support investments in sustainable infrastructure; research, innovation and digitisation; SMEs, as well as social investment and skills.

S&D MEP Roberto Gualtieri, Parliament’s co-rapporteur on InvestEU and chair of the economic and monetary committee in the European Parliament, said:

“Today we adopted a good text that marks a decisive step towards creating jobs and mobilising investments to support growth and enhance cohesion.

“With investments in sustainable infrastructure, research and innovation still being inadequate, InvestEU will continue to improve the positive experience of the European Fund for Strategic Investment (EFSI), helping to bring strategic and long-term benefits to key areas that are underfunded, and thereby prove to be a powerful instrument for improving the competitiveness and socio-economic convergence of the Union.

“We made sure that the InvestEU Fund would support social infrastructures and programmes, along with projects that are technically and economically viable. The Programme should continue to facilitate access to finance for SMEs, the cultural and creative sectors and climate actions.”

S&D negotiator on InvestEU and coordinator on budget, Eider Gardiazabal Rubial MEP, said:

“The S&D Group was the one to push for a real public investment plan to relaunch the European economies. The EFSI has been a first success. It’s now time for a renewed EU strategy for long term investment planning. InvestEU is that new kick to drive our economies toward the right direction.”