As part of the efforts to kick-start the European economy following the coronavirus shock, the European Commission has proposed an enhanced InvestEU programme under the Next Generation EU package, introducing two main changes. Firstly, it brings about an increase of its budget to reflect the higher investment needs and an environment of increased risk. The financial envelope for the sustainable infrastructure window is doubled. Secondly, it broadens the scope of InvestEU through the addition of a fifth window – the strategic European investment window – in order to cater for the future needs of the European economy and to promote and secure EU strategic autonomy in key sectors.

More than 20 entities have applied for the pillar assessment, which is a preliminary step to become implementing partner under InvestEU. Commission Services organised seminars and initial discussions with potential implementing partners. Consultations with the EIB Group and potential implementing partners on the investment guidelines are progressing. However, the guidelines will be subject to an additional round of consultations for a new chapter on InvestEU’s proposed fifth window on European strategic investment. The Commission has set up working groups involving the EIB Group and potential implementing partners on the InvestEU risk methodological framework and on sustainability proofing and climate tracking. These are working on methodological guidance.