Draft EFSI legislation a positive start

Commenting on the publication by the Commission of the draft legislation to set up the European Fund for Strategic Investment, Markus J. Beyrer said: 'The draft legislation published today takes us a step closer to the launch of the European Fund for Strategic Investment which can form an important part of an investment-driven EU recovery. The independent investment committee will have a crucial role in ensuring the new fund is used to foster a less risk-adverse attitude, supporting additional projects of strategic importance that would have not been funded otherwise. It is crucial that the Commission has maintained its promise to look favourably on capital contributions to the EFSI as part of broader approach of using the flexibility provided within the rules of the Stability and Growth Pact to support investment.'