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EU Council and European Parliament agreed positions on euroinvestment fund

The Fund will co-finance projects with a high risk to enhance their involvement in private equity

Baku. 28 May. REPORT.AZ/ EU Council and European Parliament agreed on a position on legislation to allow the EU to establish a strategic foundation of euroinvestment, which will form the basis of an investment plan for Europe. Report informs referring to Russian media, the statement of the European Commission says.

The European Commission in the recent negotiations on the finalization of the regulation has acted as a mediator in the talks of representatives of the European Parliament and the EU Council.

"Finance ministers are expected to approve the regulation on the Ecofin (meeting of ministers of economy and finance of the EU countries) on June 19 at the plenary session of the European Parliament is expected to vote on June 25, which will allow the fund to begin work by September, as previously planned,", said in a statement.

European Commission President Jean-Claude Juncker at the end of November last year introduced a three-year plan of reviving the European economy, involving the creation of the European Foundation for strategic investments that could spur investment in the EU in the amount of at least 315 billion Euros.

It is expected that the Fund will co-finance projects with a high risk to enhance their involvement in private equity. More than 90% of the funding must come from private sources.

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