Master Plan for the establishment of Investment Platforms
EFSI Financing Investment Platforms - 30 January 2020
CitizEE has published its Master Plan for the establishment of Investment Platforms. The aim of this Master Plan for the establishment of Investment Platforms is to provide CitizEE Pilot Countries/Regions a synthetic input about the practical implementation of the Investment Platforms within the CitizEE project Working planning. The structuring of the Master Plan is based on the analysis of the current EU legislation and policy documents regarding Investment Platforms under EFSI 2015-2020 framework, ESIF 2014-2020 operational program and as far as possible on the first experiences of existing Investment Platforms.
The Master Plan is the working framework for the duration of the CitizEE project, making the link between the CitizEE Work Breakdown Structure and the steps to take and tasks to perform to establish Investment Platforms under European Fund for Strategic Investments (EFSI)/European Structural Investments Fund (ESIF) regulations. It has been structured according to the development stages of Investment Platforms (Assessment, Design, Set-up, Implementation) which align with the development phases of CFs4EE Financing Scheme as detailed in the CitizEE grant agreement
It is to be noted that the EFSI initiative will soon reach the end of its timeframe and will be replaced by the new InvestEU framework as a successor of EFSI. Apart from the Lithuanian pilot region that has already succeeded to obtain approval for an EFSI-backed Investment Platform and will be signed within the current timeframe, according to discussions with the European Investment Bank, the remaining timeframe will most probably not allow other CitizEE pilot regions to obtain an ESFI approval for their projects. Remaining pilot projects will therefore fall under the InvestEU framework, which, although based on the success of the EFSI initiative, includes a number of significant developments that will need to be analyzed in more detail as soon as the regulation establishing InvestEU will enter into force. The Master Plan should therefore be reviewed regularly (at least at each stage of development), in order to align it with the most recent information. Following consultations with European Investment Bank (EIB) and European Investment Advisory Hub (EIAH), it is assumed that in the next Multi-Annual Framework (2021-2027):
- EU-backed guarantee will remain the cornerstone of InvestEU program;
- Financial Instruments and Investment Platforms will remain strategic tools within InvestEU program to support public and private investment in Europe;
- European Investment Bank Group (EIB) will remain the main operator for InvestEU program;
- The cooperation between EIB Group and National Promotional Banks and Institutions (NPBIs) in the implementation of InvestEU will be strengthened as well as the complementarity between InvestEU and ESIF in the implementation of Financial Instruments.
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