InvestEU: The European Commission and the EIB Group reached their Guarantee Agreement
On Monday 7 March, the European Commission, the European Investment Bank (EIB) and the European Investment Fund (EIF) concluded negotiations on the Guarantee Agreement. The Guarantee Agreement covers the European Union budget guarantee of €19.65 billion to support investment projects across Europe. The European Commission and the EIB also signed the InvestEU Advisory Hub agreement providing up to €270 million for market development, developing skills and project level advisory services.
The InvestEU programme seeks to attract public and private investments focusing on four policy areas: sustainable infrastructure; research, innovation and digitisation; small and medium-sized businesses; and social investment and skills. Philea has been engaging with the European Commission and European Investment Fund to consider ways for foundations/philanthropic public-benefit organisations to come in to the InvestEU programme with their asset allocation. The newly reached agreement between the Commission and the EIB and EIF pave the way for new investments and related advisory assistance in support of Europe’s post-pandemic recovery and green and digital transitions.
Philea will continue to monitor and engage around the InvestEU programme to ensure foundations’ views are considered when new financial instruments are developed, and the advisory services are being shaped. The Social Economy Action Plan also makes reference to a co-investment mechanism for philanthropic organisations: It should be noted that previous conversations have taken place between the Commission, Philea and EVPA to consider under which policy areas collaboration between the EU institutions and the philanthropy sector can be unlocked.
Find out more on the InvestEU Programme and the newly reached Agreement.