European Fund for Strategic Investment - Does it need extra action to make a full success?

Document Type: Original Article

Author

Lawyer, Lecturer, Author, Law School University of Zagreb, Croatia

Abstract

European Fund for Strategic Investment (EFSI), (a regulation entered into force in 2015.) is one of the three pillars of the Investment Plan for Europe and it is the central pillar. It aims to tackle the lack of confidence and investment which resulted from the economic and financial crisis during which the level of investements dropped of by about 15%. The Investment Plan for Europe, has three objectives: to remove obstacles to investment; to provide visibility and technical assistance to investment projects and to make smarter use of financial resources.
The EFSI is an EU-budget guarantee providing the EIB Group with a first loss protection.
European Court of Auditors (ECA) made in 2019. a special report on the actual situation regarding investments project financed through the EFSI, for the period July 2015.-2018. ECA concluded that EFSI has been effective in raising finance to support substantial additional investment in European Union.

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