The Commission welcomed the preliminary agreement on InvestEU that was reached on 20 March. This preliminary agreement between the European Parliament, Member States and the Commission is a crucial step towards the creation of the InvestEU programme, which will bring together under one roof the European Fund for Strategic Investments and 13 other EU financial instruments currently supporting investment in the EU, making the financing easier to access. InvestEU builds on the success of the Juncker Plan, or Investment Plan for Europe. Similar to the Juncker Plan, InvestEU is an EU budget guarantee. The guarantee will be at least EUR 38 billion and is set to mobilise at least EUR 650 billion. The InvestEU Fund will be accompanied by the InvestEU Advisory Hub – tailored support to project promoters – and the InvestEU Portal – an easily accessible pipeline of mature projects for potential investors. InvestEU is a partnership with the European Investment Bank Group (EIB) and will be open to other implementing partners as well. This preliminary agreement is still subject to formal approval by the European Parliament and the Council.