Investing in the future of Europe: InvestEU and the role of National Promotional Institutions
The Centre for European Policy Studies and Cassa Depositi e Prestiti will host the policy workshop “Investing in the future of Europe: InvestEU and the role of National Promotional Institutions” on 8 March in Brussels, Belgium.
In 2018, at the time when the Commission was preparing the InvestEU Regulation, the EU yearly investment gap to achieve its policy objectives was estimated to more than €600 billion. The COVID-19 pandemic and the Russian invasion of Ukraine have substantially widened this gap and emphasised the need to invest, more and faster, to make the EU better fit for current and forthcoming challenges.
The EU provided an unprecedented response to both shocks, with a stimulus package worth more than €2 trillion. To spur the recovery and foster a more resilient Europe by ensuring that each euro invested goes where it is most needed, a substantial share of the available budget is spent through Member State administrations and national implementing partners.
A case in point is the InvestEU Programme, which aims to trigger more than €370 billion public and private investment until 2027. Unlike the Investment Plan for Europe, a significant part of the InvestEU Programme is implemented through National Promotional Institutions, which hold in-depth knowledge of national and local investment ecosystems and needs. This important novelty aims at fostering sustained and inclusive growth across all territories of the EU.
One year after its implementation started, is the InvestEU Programme contributing to bridging the investment gap in Europe? What role has been played so far by National Promotional Institutions? Can they help direct EU financial resources where they are most needed? What is yet to be done to invest in the future of Europe?