The InvestEU Programme will bring together under one roof the multitude of EU financial instruments currently available to support investment in the EU, making funding for investment projects in Europe simpler, more efficient and more flexible.
The InvestEU Programme consists of the InvestEU Fund, the InvestEU Advisory Hub and the InvestEU Portal. It will further boost job creation and support investment and innovation in the EU.
InvestEU will run between 2021 and 2027 and it builds on the success of the Juncker Plan’s European Fund for Strategic Investments (EFSI) by providing an EU budget guarantee to support investment and access to finance in the EU. InvestEU aims to trigger at least €650 billion in additional investment.
The InvestEU Fund will support four policy areas: sustainable infrastructure; research, innovation and digitisation; small and medium-sized businesses; and social investment and skills. InvestEU will also be flexible: it will have the ability to react to market changes and policy priorities that change over time.
The InvestEU Advisory Hub will provide technical support and assistance to help with the preparation, development, structuring and implementation of projects, including capacity building.
The InvestEU Portal will bring together investors and project promoters by providing an easily-accessible and user-friendly database.
Why do we need InvestEU?
The investment conditions in Europe have improved since the Investment Plan for Europe, the Juncker Plan, was launched, thanks to structural reforms carried out by the Member States, a more a favourable economic situation and interventions such as EFSI. To help investment recover further, InvestEU will continue the work of the Juncker Plan to mobilise public and private resources in the EU. It will help to address market failures and investment gaps to foster jobs and growth and to reach EU policy goals such as sustainability, scientific excellence and social inclusion.
How will the InvestEU Fund work?
The InvestEU Fund will mobilise public and private investment through an EU budget guarantee of €38 billion that will back the investment projects of the European Investment Bank (EIB) Group and other financial partners, and increase their risk-bearing capacity. The financial partners are expected to contribute at least €9.5 billion in risk-bearing capacity. The guarantee will be provisioned at 40%, meaning that €15.2 billion of the EU budget is set aside in case calls are made on the guarantee.
The InvestEU Fund will be implemented through financial partners who will invest in projects using the EU guarantee. The main partner will be the EIB Group, which has successfully implemented and managed EFSI since its launch in 2015. In addition to the EIB Group, International Financial Institutions active in Europe – such as the European Bank for Reconstruction and Developments (EBRD), the World Bank and the Council of Europe Development Bank – and National Promotional Banks will have direct access to the EU guarantee.
The InvestEU Fund will also feature a Member State compartment for each policy area, meaning that Member States may add to the EU guarantee’s provisioning by voluntarily channelling some of their Cohesion Policy funds to these compartments. Like this, Member States will benefit from the EU guarantee and its high credit rating, giving national and regional investments more firepower.
What’s the advantage compared to the status quo, especially for the final beneficiaries?
Creating one coherent programme benefits from economies of scale. It achieves greater risk diversification, has a more integrated governance structure, and mainstreams cross-sectorial policies, bringing a multitude of instruments under one single structure. Using a budget guarantee – and not only financial instruments or grants – can help increase the impact of public funds. In this way we can do more with less.
The new approach also helps to reduce uncertainty for final beneficiaries and financial intermediaries about which instrument is the best for them.
Under the InvestEU Fund, there will be a single programme with a strong identity and a single set of coherent requirements (for eligibility, monitoring and reporting), which will apply throughout the financing chain to the benefit of financial intermediaries and final beneficiaries. InvestEU will eliminate overlaps and ensure synergies both for financing and advisory services. The InvestEU Advisory Hub will integrate 13 different advisory services into a one-stop-shop.
Also, when blending grants from other programmes like Horizon Europe, the Single Market Programme or the Connecting Europe Facility with support from InvestEU, InvestEU rules will apply for the entire project. This is a major simplification compared to today.
What will InvestEU finance?
The InvestEU Fund will be market-based and demand-driven. By crowding-in private investors, it will help achieve the EU’s ambitious goals in sustainability, scientific excellence and social inclusion. Investments will come under four policy areas, which represent important policy priorities for the Union and bring high EU added value:
- sustainable infrastructure;
- research, innovation and digitisation;
- small and medium-sized enterprises (SMEs) and small mid-caps;
- social investment and skills.
The budget guarantee is divided between the policy areas as follows:
Sustainable infrastructure: €11.5 billion
Research, innovation and digitisation: €11.25 billion
SMEs: €11.25 billion
Social investment and skills: €4 billion
The Commission can adjust these amounts by up to 15% in each policy window to adapt to evolving policy priorities and market demand.
Who will manage InvestEU?
As in the case of EFSI, a Steering Board will give strategic direction on programme implementation. It will be composed of the Commission (four members), the EIB Group (three members) and other implementing partners (two members – International Financial Institutions such as the European Bank for Reconstruction and Development or National Promotional Banks), as well as a non-voting expert appointed by the European Parliament. The Steering Board will strive to take its decisions by consensus.
An Advisory Board will assist the Steering Board. It is composed of representatives of implementing partners (one member each) and Member States (one member each). The agreement between the European Parliament and the Council extends membership to the Committee of the Regions and the Economic and Social Committee (one member each). The Commission will be able to consult this board when preparing and designing new financial products or to follow market developments and share information. This Advisory Board will be able to issue recommendations to the Steering Board on the implementation and functioning of the InvestEU programme.
An Investment Committee will approve the individual guarantee requests. This Committee is composed of external experts selected in an open process, and remunerated by the EU budget. The Investment Committee will be assisted by a secretariat, which will be staffed by and located in the Commission. The secretariat will provide administrative support for the organisation of meetings, agendas, minutes and interact with the implementing partners as appropriate to ensure the files transmitted to the Investment Committee are complete.
The EIB as the strategic partner may send its guarantee requests directly to the Investment Committee. This will be subject to notification to the secretariat, based in the Commission, which will assume all horizontal tasks and handle the guarantee requests of all other implementing partners.
Who will choose the InvestEU projects?
Just as is the case under EFSI, the Investment Committee will select projects based on compliance with the eligibility criteria set by the Regulation as well as the Investment Guidelines, with a specific focus on additionality.
Members of the Investment Committee will be external experts with expertise from the relevant sectors. The Committee will meet in four different configurations corresponding to the policy windows.
The Committee’s decisions will be made independently, with no political interference.
In practice, Commission services will first verify the consistency of the proposed operations with EU law and policies. Projects passing this initial check will be passed on to the Investment Committee.
The Investment Committee will approve the use of the EU guarantee for financing and investment operations, taking its decision after assessing the project scoreboard presented by the implementing partners. Just as under EFSI, all decisions approving the use of the EU guarantee will be publicly available.
What will be the InvestEU eligibility criteria?
InvestEU projects must:
- address market failures or investment gaps and be economically-viable
- need EU backing in order to get off the ground
- achieve a multiplier effect and where possible crowd-in private investment
- help meet EU policy objectives.
The eligibility criteria are defined in the Financial Regulation.
Why does EFSI cease to exist? Why not just create an EFSI 3.0?
EFSI was launched in July 2015 to boost investment and stimulate economic growth and employment in the EU, at a time when Europe was still recovering from the financial and economic crisis. It was originally foreseen to have a short investment period to maximise the impact, until July 2018. Due to its success, EFSI was expanded in size and extended in duration in December 2017. Its investment period now lasts until end-2020, the end of the current long-term budget, or Multiannual Financial Framework (MFF). No new investments can be undertaken under EFSI after 2020 but – as with most EU financial instruments – the liabilities run for much longer.
The InvestEU Programme builds on the success of EFSI, and will continue to create and support jobs across the EU by following the same model based on an EU budget guarantee.
Is InvestEU taking budget from other financing programmes? What will happen to programmes like COSME and InnovFin?
The InvestEU Fund will bring under one roof the 14 EU financial instruments currently supporting investment in the EU, giving it a single, strong brand. The InvestEU Fund will capture the objectives of existing instruments such as COSME and InnovFin and be able to boost investments even further thanks to the larger scale and efficiencies of the single InvestEU Fund. The four InvestEU Fund policy areas place emphasis on areas of strategic importance for the EU, with €11.25 billion each of the guarantee earmarked for small businesses and a further €11.25 billion earmarked for research, innovation and digitisation.
Can InvestEU financing be blended with EU grants?
Yes. Blending can be necessary in some situations to underpin investments in order to address particular market failures or investment gaps. The InvestEU Fund can be combined with grants or financial instruments, or both, funded by the centrally managed Union budget or by the EU Emissions Trading System (ETS) Innovation Fund. Such combinations can create advantages for project promoters in sectors such as transport, research and digital. When a project uses EU grants and InvestEU, the InvestEU rules will apply for the entire project. This means a single rulebook and a major simplification compared to today.
What will be the risk profile of investments? What type of investments will the InvestEU Fund be targeting compared to today’s financial instruments?
The InvestEU Fund will target economically viable projects in areas where there are market failures or investment gaps. The InvestEU Fund instruments will seek to attract commercial financing to a wide range of operations and beneficiaries and will only support projects where financing could not be obtained at all or not at the required terms without InvestEU Fund support. It will also target higher risk projects in specific areas.
In addition, InvestEU places more emphasis on social investment and skills. The allocation for budgetary guarantees and financial instruments in the social sector under the current long-term EU budget amounts to €2.2 billion whereas InvestEU allocates €4 billion of the EU guarantee to this policy area, almost doubling what is currently available.
What is the expected multiplier effect for InvestEU? How do you expect to reach €650 billion?
Due to InvestEU targeting higher risk innovation projects and SMEs, as well as the greater focus on EU policy objectives, we expect a slightly more conservative multiplier effect than under EFSI: 13.7 rather than 15. That is to say that for every public euro that is mobilised through the Fund, €13.7 of total investment, that would not have happened otherwise, is generated.
The €15.2 billion budget earmarked for InvestEU allows the EU budget to provide a guarantee of €38 billion. In addition, each financial partner will be expected to contribute some resources to ensure alignment of interest, adding an estimated total of €9.5 billion, so the total guarantee will be around €47.5 billion. This in turn will be leveraged by each financial partner. This means they can lend more than the guarantee amount. Finally, each InvestEU-backed project will attract other private and public investors, as we have seen under the Juncker Plan, and we expect this will trigger at least €650 billion in total investment.
Why is the InvestEU Fund open to other financial partners? Why not work exclusively with the EIB Group, like with EFSI?
Given its role as the EU’s public bank, its capacity to operate in all Member States, and its experience in managing EFSI, the European Investment Bank (EIB) Group will remain the Commission’s main financial partner under InvestEU and implement 75% of the €38 billion guarantee. It will also play an important role in the programme governance and implementation. For the remaining 25%, International Financial Institutions and National Promotional Banks, which can offer specific expertise and experience, can become financial partners, subject to conditions.
Opening up the possibility to benefit from the EU guarantee to other institutions is driven by the fact that there are other experienced potential financial partners in the EU, which have specific financial or sectorial expertise, deep knowledge of their local market or greater capacity to share risk with the EU in some areas. This approach will enlarge and diversify the pipeline of projects and increase the potential pool of final beneficiaries.
The Commission wants to ensure that the beneficiaries of InvestEU can get the best possible support and with easiest access. The InvestEU Fund will therefore be open to other institutions, either multilateral or national institutions.
How does an entity become an implementing partner under InvestEU?
The European Investment Bank Group – the EU Bank – will be an implementing partner for 75% of the EU guarantee. For the remaining 25% of the EU guarantee, International Financial Institutions (the European Bank for Reconstruction and Development, the Council of Europe Bank, etc.) or National Promotional Banks and Institutions wishing to become an implementing partner must first undergo a so-called Pillar Assessment. This means that, as a prerequisite, they must meet requirements in areas relating to the internal control system, the accounting system, an independent external audit and rules and procedures for providing financing from EU funds through grants, procurement and financial instruments.
The process to become an implementing partner consists of three main steps. First, the interested entity needs to submit an application to the Commission. Second, Commission services carry out an eligibility check. If the result is positive, the Pillar Assessment can take place. It is usually carried out by external consultants contracted by the interested entity and lasts between six and 18 months. Third, the Commission issues a call for expression of interest and any entity in the process of passing the Pillar Assessment can apply to become an implementing partner. The Commission will discuss the financial products and negotiate a guarantee agreement with institutions that have answered the call. The Pillar Assessment needs to be completed on the day of the signature of the guarantee agreement.
How does a company apply for InvestEU financing?
Project promoters should apply directly to the EIB, to national and regional promotional banks, or to the national offices of International Financial Institutions such as the EBRD, the World Bank, or the Council of Europe Development Bank. At that stage, the financial partners submit a proposal to the Commission to apply for the EU guarantee. SMEs should continue to apply to their local commercial or public banks whose financial products are covered by the EU guarantee in their country or region. The local intermediary will inform them if a particular financing programme is covered by the InvestEU Fund.
How will the InvestEU Programme ensure geographical balance?
The InvestEU Programme was designed to ensure it benefits all Member States, irrespective of their size or the development of their financial market. The access through other financial partners – compared to EFSI – should allow the Fund to better serve local needs and to be complementary to other sources of EU funding under shared management. Technical assistance under the InvestEU Advisory Hub will address the specificities of cohesion countries markets and contribute to build up a project pipeline.
The opening of the guarantee to national and regional promotional banks aims to better address where the financing needs are and how best to serve them. Finally, the InvestEU Advisory Hub will provide comprehensive project development assistance. It will provide capacity building support to develop organisational capacity and facilitate market-making activities and the collaboration of sectoral actors. The aim is to create the conditions to expand the potential number of eligible recipients in nascent market segments, in particular where the small size of individual projects raises considerably the transaction cost at the project level.
What about State aid control?
State aid rules are essential to ensure effective competition, so that consumers and businesses get fair prices and wider choice in the Single Market. At the same time, in order to match our InvestEU objectives to address market failures and mobilise private investment, it has to be easy to link up Member State money – which may entail State aid and be subject to State aid rules – with EU funds managed centrally by the Commission, which do not constitute State aid.
To further streamline the State aid approval process for such joint funding, in June 2018 the Commission proposed an amendment to one of the Council Regulations governing EU State aid control. The Council adopted this amendment in November 2018. This revised Enabling Regulation allows the Commission, subject to certain conditions, to exempt Member State funding channelled through the InvestEU Fund or supported by the InvestEU Fund from the requirement to notify such interventions to the Commission prior to their implementation.
The funding from Member States would be declared compatible with EU State aid rules, as long as certain clear conditions are fulfilled. The Commission proposal thus ensures that State aid rules can help facilitate a seamless deployment of the InvestEU fund. This continues the spirit of the Juncker Commission, which has already made sure that 97% of State aid can be implemented without any involvement of the Commission.
Who will be accountable for the investments made?
The financial partners in InvestEU will be responsible for the financing and investment operations under the InvestEU Fund since their governing bodies take the final decision on the financing.
The Investment Committee, composed of independent external experts, will approve the use of the EU guarantee under the InvestEU Fund to support those operations ahead of the final decision by the financial partner.
What role will the European Parliament and Council play?
The European Parliament and the Council will oversee the implementation of the InvestEU Fund through annual reporting to the budgetary authority and through the discharge procedure.
They will also be present in the governance bodies of the programme – Member States in the Advisory Board, and a non-voting expert appointed by the European Parliament in the Steering Board.
The implementation of the InvestEU Programme will be evaluated through an interim and a retrospective evaluation. The conclusions of the evaluations will be communicated to the European Parliament and Council so that they can feed into the decision-making process in a timely manner.
European Commission presents strategies for data and Artificial Intelligence
Today, the Commission unveils its ideas and actions for a digital transformation that works for all, reflecting the best of Europe: open, fair, diverse, democratic and confident. It presents a European society powered by digital solutions that put people first, opens up new opportunities for businesses, and boosts the development of trustworthy technology to foster an open and democratic society and a vibrant and sustainable economy. Digital is a key enabler to fighting climate change and achieving the green transition. The European data strategy and the policy options to ensure the human-centric development of Artificial Intelligence (AI) presented today are the first steps towards achieving these goals.
The President of the Commission, Ursula von der Leyen, said: “Today we are presenting our ambition to shape Europe’s digital future. It covers everything from cybersecurity to critical infrastructures, digital education to skills, democracy to media. I want that digital Europe reflects the best of Europe – open, fair, diverse, democratic, and confident.”
Executive Vice-President for A Europe Fit for the Digital Age, Margrethe Vestager, said: “We want every citizen, every employee, every business to stand a fair chance to reap the benefits of digitalisation. Whether that means driving more safely or polluting less thanks to connected cars; or even saving lives with AI-driven medical imagery that allows doctors to detect diseases earlier than ever before.”
Commissioner for Internal Market,Thierry Breton, said: “Our society is generating a huge wave of industrial and public data, which will transform the way we produce, consume and live. I want European businesses and our many SMEs to access this data and create value for Europeans – including by developing Artificial Intelligence applications. Europe has everything it takes to lead the ‘big data’ race, and preserve its technological sovereignty, industrial leadership and economic competitiveness to the benefit of European consumers.”
Europe as a trusted digital leader
Digital technologies, if used with purpose, will benefit citizens and businesses in many ways. Over the next five years, the Commission will focus on three key objectives in digital:
· Technology that works for people;
· A fair and competitive economy; and
· An open, democratic and sustainable society.
Europe will build on its long history of technology, research, innovation and ingenuity, and on its strong protection of rights and fundamental values. New policies and frameworks will enable Europe to deploy cutting-edge digital technologies and strengthen its cybersecurity capacities. Europe will continue to preserve its open, democratic and sustainable society and digital tools can support these principles. It will develop and pursue its own path to become a globally competitive, value-based and inclusive digital economy and society, while continuing to be an open but rules-based market, and to work closely with its international partners.
Europe as a leader in trustworthy Artificial Intelligence
Europe has all it needs to become a world leader in Artificial Intelligence (AI) systems that can be safely used and applied. We have excellent research centres, secure digital systems and a robust position in robotics as well as competitive manufacturing and services sectors, spanning from automotive to energy, from healthcare to agriculture.
In its White Paper presented today, the Commission envisages a framework for trustworthy Artificial Intelligence, based on excellence and trust. In partnership with the private and the public sector, the aim is to mobilise resources along the entire value chain and to create the right incentives to accelerate deployment of AI, including by smaller and medium-sized enterprises. This includes working with Member States and the research community, to attract and keep talent. As AI systems can be complex and bear significant risks in certain contexts, building trust is essential. Clear rules need to address high-risk AI systems without putting too much burden on less risky ones. Strict EU rules for consumer protection, to address unfair commercial practices and to protect personal data and privacy, continue to apply.
For high-risk cases, such as in health, policing, or transport, AI systems should be transparent, traceable and guarantee human oversight. Authorities should be able to test and certify the data used by algorithms as they check cosmetics, cars or toys. Unbiased data is needed to train high-risk systems to perform properly, and to ensure respect of fundamental rights, in particular non-discrimination. While today, the use of facial recognition for remote biometric identification is generally prohibited and can only be used in exceptional, duly justified and proportionate cases, subject to safeguards and based of EU or national law, the Commission wants to launch a broad debate about which circumstances, if any, might justify such exceptions.
For lower risk AI applications, the Commission envisages a voluntary labelling scheme if they apply higher standards.
All AI applications are welcome in the European market as long as they comply with EU rules.
Europe as a leader in the data economy
The amount of data generated by businesses and public bodies is constantly growing. The next wave of industrial data will deeply transform the way we produce, consume and live. But most of its potential remains unfulfilled. Europe has everything it takes to become a leader in this new data economy: the strongest industrial base of the world, with SMEs being a vital part of the industrial fabric; the technologies; the skills; and now also a clear vision.
The objective of the European data strategy is to make sure the EU becomes a role model and a leader for a society empowered by data. For this, it aims at setting up a true European data space, a single market for data, to unlock unused data, allowing it to flow freely within the European Union and across sectors for the benefit of businesses, researchers and public administrations. Citizens, businesses and organisations should be empowered to make better decisions based on insights gleaned from non-personal data. That data should be available to all, whether public or private, start-up or giant.
To achieve this, the Commission will first propose to establish the right regulatory framework regarding data governance, access and reuse between businesses, between businesses and government, and within administrations. This entails creating incentives for data sharing, establishing practical, fair and clear rules on data access and use, which comply with European values and rights such as personal data protection, consumer protection and competition rules. It also means to make public sector data more widely available by opening up high-value datasets across the EU and allowing their reuse to innovate on top.
Second, the Commission aims at supporting the development of the technological systems and the next generation of infrastructures, which will enable the EU and all the actors to grasp the opportunities of the data economy. It will contribute to investments in European High Impact projects on European data spaces and trustworthy and energy efficient cloud infrastructures.
Finally, it will launch sectoral specific actions, to build European data spaces in for instance industrial manufacturing, the green deal, mobility or health.
The Commission will also work to further narrow the digital skills gap among Europeans, and explore how to give citizens better control over who can access their machine-generated data.
As set out in the strategy presented today, the Commission will present later this year a Digital Services Act and a European Democracy Action Plan, propose a review of the eIDAS regulation, and strengthen cybersecurity by developing a Joint Cyber Unit. Europe will also continue to build alliances with global partners, leveraging its regulatory power, capacity building, diplomacy and finance to promote the European digitalisation model.
The White Paper on Artificial Intelligence is now open for public consultation until 19 May 2020. The Commission is also gathering feedback on its data strategy. In light of the input received, the Commission will take further action to support the development of trustworthy AI and the data economy
Since 2014, the Commission has taken a number of steps to facilitate the development of a data-agile economy such as the Regulation on the free flow of non-personal data, the Cybersecurity Act, the Open Data Directive and the General Data Protection Regulation.
In 2018, the Commission presented for the first time an AI strategy, and agreed a coordinated plan with Member States. The framework for AI presented today also builds on the work carried out by the High-Level Expert Group on Artificial Intelligence, which presented their Ethics Guidelines on trustworthy AI in April 2019.
In her Political Guidelines, Commission President Ursula von der Leyen stressed the need to lead the transition to a healthy planet and a new digital world. In that context, she announced to kick-start the debate on human and ethical Artificial Intelligence and the use of big data to create wealth for societies and businesses during her first 100 days in office.
Climate-neutral Europe: EU invests more than €100 million in new LIFE Programme projects
The European Commission today announced an investment of €101.2 million for the latest projects under the LIFE programme for the Environment and Climate Action. The funding will support 10 large-scale environment and climate projects in nine Member States, helping Europe’s transition to a sustainable economy and climate neutrality. Theseprojects are located in Cyprus, Estonia, France, Greece, Ireland, Latvia, Slovakia, Czechia and Spain.
Executive Vice-President of the European Commission Frans Timmermans said: “The European Green Deal is about improving the well-being and prosperity of our citizens, while protecting nature and the climate. LIFE projects have played an important role for many years and have a big impact on the ground. With today’s €100 million investment we will help to preserve precious natural habitats, keep the air clean, and cut pollution in many lakes and rivers in Europe.”
Commissioner for the Environment, Oceans and Fisheries Virginijus Sinkevičius said: “LIFE integrated projects enable Member States’ authorities to make a real difference to the environment and people’s lives. The projects will help Member States to conserve nature, improve air and water quality, and make the economy greener. This will improve our resilience to the changing climate.”
Integrated projects improve citizens’ quality of life by helping Member States comply with EU legislation in six areas: nature, water, air, waste, climate change mitigation and climate change adaptation. They support implementation of environmental and climate legislation in a coordinated manner and on a large territorial scale, leveraging funding from other EU sources, national and regional actors and private investors.
The LIFE investment is set to mobilise over €6.5 billion of complementary funds, as Member States can also make use of other EU funding sources, including agricultural, regional and structural funds, Horizon 2020, as well as national funds and private sector investment.
The large-scale projects will support the European Green Deal and the EU’s ambition of becoming the world’s first climate-neutral continent by 2050. They will help to restore and conserve ecosystems and species we all depend on, move towards a circular economy, improve air and water quality, boost sustainable finance and increase climate resilience in Europe.
Impact on the ground
Nature conservation: Integrated projects in Estonia, Ireland and Cyprus will help to conserve Europe’s nature and improve the management of the EU Natura 2000 network of protected areas. Many important habitats and species will benefit, from forests, farmlands, grasslands, coastal areas and peatlands to pollinators. These habitats also serve as valuable carbon sinks.
Waste management: A project in Greece will promote waste prevention and re-use, reducing the amount of municipal waste going to landfill. New waste indicators and standards will be developed to help build the circular economy.
Air quality: LIFE funding will assist Slovakia in complying with EU directives on air quality, reducing the population’s exposure to harmful air pollutants. Neighbouring Czechia, affected by similar air quality problems, will also benefit.
Water: Integrated projects working at river basin-scale will protect and improve water quality in Ireland and Latvia’s rivers and lakes, enabling the countries to meet their obligations under the EU Water Framework Directive.
Climate change adaptation: LIFE funding will also support increased resilience to climate change. Projects will integrate climate change adaptation into planning and other policy areas in Spain as well as building adaptation capacity in France using nature-based solutions.
Sustainable finance: Also in France, an integrated project will help bridge significant knowledge gaps in this area and bring green financial products into the mainstream.
The LIFE programme is the EU’s funding instrument for the environment and climate action. It has been running since 1992 and has co-financed more than 5,400 projects across the EU and in third countries. At any given moment some 1,100 projects are in progress. The budget for 2014-2020 is set at €3.4 billion in current prices. LIFE integrated projects were introduced in 2014 to help Member States comply with key EU environmental, nature and climate legislation. For the next long-term EU budget for 2021-2027, the Commission is proposing to increase funding by almost 60% for LIFE.
EU Interreg programme celebrates 30 years of bringing citizens closer together
The year 2020 marks 30 years since the start of Interreg, the EU’s emblematic programme that aims at encouraging territorial cooperation between border regions. In light of this celebratory year, Commissioner for Cohesion and Reforms, Elisa Ferreira,issued the following statement:
“Interreg is a programme that is very dear to my heart. As a unique instrument of cooperation, supported by cohesion funding, Interreg allows regions and countries to work together to solve common challenges. Interreg projects are concrete examples that borders do not have to be barriers, but can be an opportunity for growth and successful cooperation. Over the past 30 years, and thanks to numerous projects supported by the EU, Interreg has brought the more than 170 million Europeans living in border regions closer together, improved their lives, and created new opportunities for cooperation.
The 30 year celebration of Interreg happens in a crucial time of the EU’s history. As we face serious global and local challenges, we need to regain citizens’ trust and ensure we deliver. Interreg has been acting now for 30 years to leave no one behind and to build Europe brick-by-brick. The intention is to continue this mission but also to use this celebrative occasion to question, to re-think, and to give a new breath to what we consider as a fundamental value in the European Union: the spirit of cooperation, driven by the firm belief that we are stronger together.”
Launched in 1990, the European Territorial Cooperation (ETC), better known as Interreg, is an emblematic Cohesion Policy programme that provides a framework for the implementation of joint actions and policy exchanges between national, regional and local actors from different Member States. The overarching objective of European Territorial Cooperation (ETC) is to promote a harmonious economic, social and territorial development of the Union as a whole. Interreg is built around three strands of cooperation: cross-border (Interreg A), transnational (Interreg B) and interregional (Interreg C).
Five programming periods of Interreg have succeeded each other: INTERREG I (1990-1993) – INTERREG II (1994-1999) – INTERREG III (2000-2006) – INTERREG IV (2007-2013) – INTERREG V (2014-2020).
The Interreg cooperation programmes cover the entire European continent with a total budget of over €12 billion, including EU and Member States’ contribution, during the 2014 – 2020 programming period.
The Interreg 30 year campaign will roll out throughout 2020 under the themes: neighbours, green and youth. The campaign will take stock of the past achievements and look forward to what can be done more and better in the future.
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