During a meeting of the ECOFIN Council on 22 January, EU finance ministers discussed InvestEU, the proposal which brings together under one programme the different financial instruments currently available to support investment and job creation in the EU. By providing guarantees from the EU budget, the aim of InvestEU is to encourage public and private investor participation in four policy areas: sustainable infrastructure; research, innovation and digitalization; small and medium sized businesses; social investment and skills. Ministers discussed the governance structure of InvestEU and the financial guarantee provided by the EU to partners. They also discussed the current European system of financial supervision, with the Presidency proposing to prioritise provisions to strengthen the supervision of anti-money laundering (AML) and terrorist financing activities. The ECOFIN Council also adopted conclusions on the European Semester package and approved a draft recommendation on the economic policies of the euro area. Lastly, ministers discussed the legislative implications of further economic and monetary union, as well as the priorities of the Romanian presidency.