coronavirus
EU budget for recovery: Kick-starting the EU economy by incentivizing private investments
As announced by European Commission President Ursula von der Leyen (pictured) on 27 May 2020, the Commission is aiming to kick-start the EU economy by incentivizing private investments.
The Commission has proposed a new Solvency Support Instrument, which builds on the existing European Fund for Strategic Investments, to mobilize private resources to urgently support viable European companies in the sectors, regions and countries most economically impacted by the pandemic.
The Solvency Support Instrument can be operational from 2020 and will have a budget of €31 billion, aiming to unlock €300bn in solvency support for otherwise healthy companies from all economic sectors and prepare them for a cleaner, digital and resilient future. The Commission is enhancing InvestEU, Europe's flagship investment programme, to a level of €15.3bn to mobilize private investment in projects across the Union. Finally, the Commission is proposing a new Strategic Investment Facility built into InvestEU, to generate investments of up to €150bn, thanks to a contribution of €15bn from Next Generation EU, to boost the resilience of strategic sectors, notably those linked to the green and digital transition, and key value chains in the internal market.
For more details see the Q&A and factsheet on the Solvency Support Instrument; and the Q&A and factsheet on InvestEU. All legal texts related to the new MFF proposal are available here.
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