Evaluation of European Fund for Strategic Investment 2.0

Key points

The EESC:

• underlines that all the actors consulted agreed that the results of EFSI were very positive in terms of its ability to mobilise a significant volume of investment, thus helping to reduce the serious investment deficit in the EU following the Great Recession;
• notes that the involvement of the social partners and civil society organisations in the launch and implementation of EU investment programmes, in particular InvestEU, should be promoted;
• considers that the involvement of CSOs should also be ensured at national level by setting up consultative committees comprising organisations representing the social partners and civil society, relevant authorities, the EIB and financial institutions;
• considers it important to reinforce the technical capacities of public administrations, where necessary;
• highlights that the participants of the fact-finding visits expressed the need for the EU to maintain, and strengthen its commitment to promoting investment and to ensuring that investment is geared towards achieving the objectives of the Green Deal and the digital transformation, with just transitions, and towards strengthening social cohesion;
• points out that the CSOs consulted agreed on the need to strengthen the complementarity and synergies between InvestEU and the other EU investment programmes;
• notes that most CSOs consulted considered that instruments should be put in place to assess the impact of these programmes on the working and living conditions of individuals and communities and on convergence between regions;
• notes that more detailed information on the financial, economic and social results of EFSI and InvestEU investments can help to improve the effectiveness of these programmes. Instruments should be created for measuring additionality more accurately;
• calls on the Commission and the EIB to consider how to promote synergies of InvestEU with the Structural and Cohesion Funds to overcome the bias in favour of more developed regions that has been identified in the implementation of EFSI;
• notes that CSOs agreed that SMEs and social economy enterprises should be prioritised for funding through InvestEU. The capacities of these enterprises to participate fully in the major lines of investment encouraged by the EU should be promoted, possible through the EIAH and the EIPP. A homogeneous definition at European level of the concepts of SME, mid-cap and social economy enterprise, simplifying the administrative formalities to ease the administrative burden on smaller companies is key;
• points out that irrespective of the different levels of use of the EIAH and the EIPP in the implementation of EFSI in each country, both instruments were considered useful and should be strengthened;
• considers that transparency and visibility should be strengthened during the implementation of InvestEU.