During the EP plenary session (11-15 December 2017) in Strasbourg, MEPs discuss a new law concerning the European Fund for Strategic Investment (EFSI), which has helped economic recovery, and which will be prolonged until 2020 and topped up with extra money to finance more projects that promise the best economic and social returns in the EU member states. Statements by Udo BULLMANN (S&D, DE), José Manuel FERNANDES (EPP, PT), Rapporteur, Inés AYALA SENDER (S&D, ES), Jyrki KATAINEN, Vice-President of the EC in charge of Jobs, Growth, Investment and Competitiveness, and Mercedes BRESSO (S&D, IT)

Extension of the duration of the European Fund for Strategic Investments: extracts from the debate and extracts from vote

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SOUNDBITE (German), Udo BULLMANN (S&amp;D, DE), Rapporteur, So what lessons can we learn? The fund hashelped,it has been useful but second conclusion is that it is largely insufficient to meet the additional investment needs in the European Union. Honourable members that is why we need greater effort on the part of member states and commissioner,we needacommission proposal for a comprehensive investment strategy that is something that wecall for in our report. We expect that to be tabled by the commission.

SOUNDBITE (German), Udo BULLMANN (S&amp;D, DE), We in the Europeanparliament wanted to improve the fund, modernise it,ensure that it is accessible to those regions with greatest need for investment.

SOUNDBITE (Portuguese), Jos&#233; Manuel FERNANDES (EPP, PT), Rapporteur, It is anadditionalfund, additionalittyalsosomething that had beenbolstered. We ensurethat nothing is it automatic,we need to see the impact in terms of jobs in investment on the groun,taking into account the real context. The least favourite regions have to receive more support,this is nota cohesion fundbut nevertheless it isa fundthat should contribute to territorial cohesion. It is a fund that does not replace cohesion policy, but at the same time it requires complementarity with the funds we alrady have in place for that purpose, the structural funds.

SOUNDBITE (Spanish), In&#233;s AYALA SENDER (S&amp;D, ES), It is one matter to produce cuts in the FIS and to use margins in FISdoes bring benefits and finally recognises that European infrastructures are also represented in investment. We aretalking about LNG buses and electric cars and alternative vehicles.

SOUNDBITE (English), Jyrki KATAINEN, Vice-President of the EC in charge of Jobs, Growth, Investment and Competitiveness, By nowFSIhas managed to trigger additional investment worth &euro;250 billionEuros,in other terms, it will create new jobs and newfinancing opportunities for infrastructure investmentsandin SME's (small and medium sized companies).

SOUNDBITE (English), Jyrki KATAINEN, Vice-President of the EC in charge of Jobs, Growth, Investment and Competitiveness, FSIinvestments done by now will increase European GDP by 0.67 percent by 2020 and it will increase the number of jobs by 690,000 andLadies and gentlemen, this isonlytheresult ofFSIinvestments by now so the overall figure will behigher.

SOUNDBITE (Italian), Mercedes BRESSO (S&amp;D, IT), If wemove on to apermanent mechanism for financing investment in Europe we do need to takea carefulaccount of those regions are converted into the middle income trap, I think this is going to be an important fact future.

Extracts from the vote, (11 shots),  vote AM 2, AM 3 with panel at 4:11 Total 646, + 502, - 125, abstention 19, vote on the final report in favour:  78% of the members

Event date	12/12/2017
Reference:	I148122V
Format:	16:9 format
Copyright:	© European Union
copyrightYear:	2017

Extension of the duration of the European Fund for Strategic Investments: extracts from the debate and extracts from vote

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