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Udo Bullman, co-rapporteur (S&D, DE), Economic and Monetary Affairs
“How can we ensure that resources from the new fund go to higher-risk investments, such as green growth? This criterion is not binding in the Commission proposal, yet money must flow to underfinanced areas. (...) We don't want project selection to remain a black box”.
José Manuel Fernandes, co-rapporteur (EPP, PT), Budgets
“The EFSI will allow for more than investment: it will reduce red tape, deepen the single market and help SMEs. But it is also a complementary tool. It must not replace other European instruments. (...) Projects must be selected and structured to ensure cohesion among them and to address market failures”.
MEPs asked the speakers about a specific plan for small and medium-sized enterprises (SMEs), whether the EU budget contribution could be reduced and the €5 billion one from the European Investment Bank (EIB), increased, the risks of state participation in selecting projects, and ways to ensure that additional funds would actually arrive.