On 29 April the European Parliament and the Council held their second political meeting to discuss the legislative proposal on the set up of the European Fund for Strategic Investments (EFSI) that intends to bring an additional 315 billion euro in investments for jobs and growth. The discussions between the two co-legislators are taking up speed, particularly on governance, the use of the guarantee, and the advisory hub.

With respect to the governance of the EFSI, the two institutions confirmed that the fund should be endowed with a strong two-tier governance structure, composed of a Steering Board and an independent Investment Committee. The Presidency, on behalf of the Council, yet again underlined the need for a simple, transparent and fully depoliticised governance structure of the EFSI.

The Council emphasised the important role of investment platforms and national promotional banks in delivering the objectives of the fund.

With respect to the financing of the EU guarantee fund, the co-legislators reinstated their positions. The Council insisted on the irrevocability and unconditionality of the EU guarantee and upheld the principles of sound financial management.

Finally, the co-legislators exchanged views on the technical assistance platform for the structuring of investment projects to be provided to project promoters. Both legislators engaged in a fruitful discussion to iron out the remaining differences on the advisory hub.
The progress achieved today constitutes an important building block for an agreement by June.

The next trilogue will take place on the 7 May.