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22. How will the Commission ensure that the projects financed by the EFSI are
in line with the Europe 2020 strategy?
The legal text establishing the EFSI contains a reference to the Europe 2020 targets to ensure
that financing remains in line with these important objectives. A reference to Europe 2020
targets will be included in the investment guidelines.
23. How will the Commission ensure that a Fund depending essentially on
private participation will invest in projects aiming to promote sustainable
and environmentally-friendly economic growth?
The Fund is self-standing and does not depend on private money. Private investors can
contribute to the Fund but are primarily expected to co-finance specific projects.
The Fund will decide in which projects to invest according to the investment guidelines to be
decided by the Steering Board. The Investment Committee, consisting of professionals, will
decide on individual projects, based on their merits. While the detailed criteria have yet to
be set, it is clear that viability criteria can differ depending on the nature of the sector:
Renewable energy is clearly different from transport, which is different from education.
Promotion of sustainable and environmentally friendly economic growth, creation of quality
jobs and enhanced convergence, including in terms of competitiveness, are elements that
are likely to be taken into account in this context.
24. How will the Commission ensure that the EFSI will address macro-
economic imbalances among EU Member States and, particularly, that the
most depressed economies will benefit from these investments?
Member States are encouraged to continue using the Structural Funds for regional and local
projects contributing to social and economic cohesion. The ESFI will not have funds ear-
marked for certain sectors or regions. However, as mentioned, viability criteria will differ
depending on the sector and societal return which will be taken into account in this context.
In any event, the EFSI will finance projects across the Union and technical assistance will be
stepped up significantly to ensure that all countries can present well-constructed, viable and
investible projects.
25. When will the criteria for the selection of projects be defined? What is the
procedure for the negotiation of the agreement with the EIB on the
establishment of the EFSI and the investment guidelines?
The investment guidelines and the detailed criteria for the selection of projects will be
defined by the Steering Board of the EFSI, once the latter is appointed.
The agreement between the Commission and the EIB on the establishment will be
negotiated in the coming months. For obvious reasons, it cannot be finalised before the
legislators come to an agreement on the Regulation establishing the EFSI, as it is meant to
flesh out in more technical terms the legal obligations enshrined in the Regulation.
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in line with the Europe 2020 strategy?
The legal text establishing the EFSI contains a reference to the Europe 2020 targets to ensure
that financing remains in line with these important objectives. A reference to Europe 2020
targets will be included in the investment guidelines.
23. How will the Commission ensure that a Fund depending essentially on
private participation will invest in projects aiming to promote sustainable
and environmentally-friendly economic growth?
The Fund is self-standing and does not depend on private money. Private investors can
contribute to the Fund but are primarily expected to co-finance specific projects.
The Fund will decide in which projects to invest according to the investment guidelines to be
decided by the Steering Board. The Investment Committee, consisting of professionals, will
decide on individual projects, based on their merits. While the detailed criteria have yet to
be set, it is clear that viability criteria can differ depending on the nature of the sector:
Renewable energy is clearly different from transport, which is different from education.
Promotion of sustainable and environmentally friendly economic growth, creation of quality
jobs and enhanced convergence, including in terms of competitiveness, are elements that
are likely to be taken into account in this context.
24. How will the Commission ensure that the EFSI will address macro-
economic imbalances among EU Member States and, particularly, that the
most depressed economies will benefit from these investments?
Member States are encouraged to continue using the Structural Funds for regional and local
projects contributing to social and economic cohesion. The ESFI will not have funds ear-
marked for certain sectors or regions. However, as mentioned, viability criteria will differ
depending on the sector and societal return which will be taken into account in this context.
In any event, the EFSI will finance projects across the Union and technical assistance will be
stepped up significantly to ensure that all countries can present well-constructed, viable and
investible projects.
25. When will the criteria for the selection of projects be defined? What is the
procedure for the negotiation of the agreement with the EIB on the
establishment of the EFSI and the investment guidelines?
The investment guidelines and the detailed criteria for the selection of projects will be
defined by the Steering Board of the EFSI, once the latter is appointed.
The agreement between the Commission and the EIB on the establishment will be
negotiated in the coming months. For obvious reasons, it cannot be finalised before the
legislators come to an agreement on the Regulation establishing the EFSI, as it is meant to
flesh out in more technical terms the legal obligations enshrined in the Regulation.
13
