Ilze Juhansone, Latvia Permanent Representative to the EU, and Janis Reirs, Latvian Finance Minister
Ilze Juhansone, Latvia Permanent Representative to the EU, and Janis Reirs, Latvian Finance Minister © European Union 28 January, 2015

Presidency seeks Investment Plan deal in March

The Latvian Finance Minister has defined the new European Fund for Strategic Investments (EFSI) as a centrepiece of the country’s Presidency of the Council of the European Union.

Earlier this week, Jānis Reirs chaired a meeting of the EU Economic and Financial Affairs Council where the Juncker Investment plan was discussed. He said the Presidency hopes a final deal on the plan could be agreed in March, allowing the first new investments under EFSI to be made from mid-2015.

The minister said: “This proposal is the cornerstone of the investment plan for Europe and a major priority for the Latvian Presidency. The deadline set by the European Council is ambitious, but we are confident of being able to meet it.”

The EFSI is expected to mobilise at least €315bn in public and private investment to assist the EU’s economic recovery, boost competitiveness and invest in knowledge, human capital and major infrastructure projects.