In November 2014, the European Commission announced its Investment Plan for Europe, also known as the Juncker Plan. The European Investment Plan was launched in response to low levels of investment in the EU since the global financial crisis.
The aim is to facilitate investments totalling over €315 billion across the EU over the following three years, to support investment in the economy and create an investment friendly environment.
The EIB is providing €5 billion to the European Fund for Strategic Investments (EFSI) on its own risk without support from the EU budget. The EU is contributing €16 billion from its budget in the form of an EU guarantee, which, in aggregate and with a multiplier of 15, aims to facilitate more than €315 billion of investments over the next three years.
The EFSI was the first pillar of the plan in 2014. It regulates the fund and aims to finance both infrastructure and innovation projects, as well as SMEs and Mid-Caps.
The European Investment Advisory Hub (EIAH), in 2015, and the EIPP, in 2016, are the second pillars of the plan. They were set up to support the goals of the EFSI and improve the market’s functioning for investors.