• H2020
• Policy & Research

The Council of the European Union and the European Parliament have held their fourth political meeting to discuss the legislative proposal to set up the European Fund for Strategic Investments (EFSI).

Following a meeting on Wednesday, it is understood that the co-legislators are approaching a compromise on the use of the EU guarantee, which will provide the essential EFSI leverage for bringing new private investments to the Union. The legislation is currently under trialogue negotiations after MEPs and ministers failed to reach an agreement during normal legislative procedures.

In their latest meeting, the Council and the Parliament reached a common understanding regarding governance and the appointment and the role of the Investment Committee, whose function is to assure the additionally of the projects and to assess whether they adhere to the general objectives of EFSI. The co-legislators suggest that it should be fully independent and highly competent. Ministers and MEPs also progressed discussions in regards to ensuring transparency of the EFSI operations.

The co-legislators have also reaffirmed their mutual commitment to reach an agreement on the EFSI by 27 May; the next trialogue will take place on the 18 May in Strasbourg.