On Friday, MEPs gave the green light with 480 votes to 142 and 64 abstentions for the negotiations on the renewed EU programme to support investments and guarantee access to finance. It will address market failures, sub-optimal investments and the investment gap in targeted sectors, for the period 2021-27.
In the adopted text, the Plenary backed reintroducing solvency support. MEPs believe that not all companies have the same level of access to market financing and certain member states may not have sufficient budgetary means available to provide adequate support to companies hit by the COVID-19 crisis. The solvency support will help recovering companies, safeguard employment levels, and counter-balance the expected distortions in the single market (up to around €11 billion.
InvestEU figures resulting from the latest MFF Compromise Package can be found here.
More information about the adopted text, which will be the EP negotiating stance, can be found here.
- November 13, 2020 at 8:34 pm by EU Editor (displayed above)
- November 13, 2020 at 8:34 pm by EU Editor