Regulation 2015/1017 - European Fund for Strategic Investments, the European Investment Advisory Hub and the European Investment Project Portal and amending Regulations (EU) No 1291/2013 and (EU) No 1316/2013 — the European Fund for Strategic Investments - Main contents
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Regulation (EU) 2015/1017 of the European Parliament and of the Council of 25 June 2015 on the European Fund for Strategic Investments, the European Investment Advisory Hub and the European Investment Project Portal and amending Regulations (EU) No 1291/2013 and (EU) No 1316/2013 — the European Fund for Strategic Investments| Legal instrument | Regulation |
|---|---|
| Number legal act | Regulation 2015/1017 |
| Original proposal | COM(2015)10  |
| CELEX number i | 32015R1017 |
| Document | 25-06-2015; Date of adoption |
|---|---|
| Publication in Official Journal | 01-07-2015; OJ L 169 p. 1-38 |
| Effect | 04-07-2015; Entry into force Date pub. +3 See Art 25 |
| End of validity | 31-12-2020; Partial end of validity Art. 13.1 Linked to 32021R0695 32021R1153 31-12-9999 |
1.7.2015 |
EN |
Official Journal of the European Union |
L 169/1 |
REGULATION (EU) 2015/1017 OF THE EUROPEAN PARLIAMENT AND OF THE COUNCIL
of 25 June 2015
on the European Fund for Strategic Investments, the European Investment Advisory Hub and the European Investment Project Portal and amending Regulations (EU) No 1291/2013 and (EU) No 1316/2013 — the European Fund for Strategic Investments
THE EUROPEAN PARLIAMENT AND THE COUNCIL OF THE EUROPEAN UNION,
Having regard to the Treaty on the Functioning of the European Union, and in particular Articles 172 and 173, the third paragraph of Article 175 and Article 182(1) thereof,
Having regard to the proposal from the European Commission,
After transmission of the draft legislative act to the national parliaments,
Having regard to the opinion of the European Economic and Social Committee (1),
Having regard to the opinion of the Committee of the Regions (2),
Acting in accordance with the ordinary legislative procedure (3),
Whereas:
(1) |
The economic and financial crisis has led to a lowering of the level of investments within the Union. Investment has fallen by approximately 15 % since its peak in 2007. The Union suffers in particular from a lack of investment as a consequence of fiscal constraints on Member States and from sluggish growth, thereby resulting in market uncertainty regarding the economic future. That lack of investment, which has been particularly severe in those Member States most affected by the crisis, has slowed down economic recovery and negatively affects job creation, long-term growth prospects and competitiveness, potentially preventing the attainment of the targets and objectives of the Europe 2020 strategy for smart, sustainable and inclusive growth. There is a need to strengthen the attractiveness of investing in Europe and in the infrastructure of a modern knowledge economy. |
(2) |
Comprehensive action is required to reverse the vicious circle created by a lack of investment and by increasing disparities between regions, and to reinforce confidence in the Union economy, while incentives for creating an investment-inducing environment in Member States could boost economic recovery. Together with a renewed impetus towards investment financing, structural reforms that are effective and economically and socially sustainable, as well as fiscal responsibility, constitute means of establishing a virtuous circle in which investment projects help support employment and demand and lead to a sustained reduction of the output gap as well as to an increase in growth potential. A European fund for strategic investments (EFSI), strengthened by Member State contributions, must be a complement to an overall strategy to improve Union competitiveness and attract investment. |
(3) |
In order to maximise the employment impact of the EFSI, Member States should continue to undertake structural reforms that are effective and economically and socially sustainable, as well as other initiatives such as training programmes and active labour market policies, support of conditions for the creation of quality and sustainable jobs, and investment in targeted social policies in line with the 2013 Social Investment Package. In addition, Member States should undertake additional activities such as customised training programmes to match the skills of workers to the needs of sectors benefiting from the EFSI, tailor-made business services for enterprises to prepare them to expand and create more jobs, as well as support for start-ups and self-employed individuals. |
(4) |
The G20, through the Global Infrastructure Initiative, has recognised the importance of investment in boosting demand and lifting productivity and growth and has committed itself to creating a climate that facilitates higher levels of investment. |
(5) |
Throughout the economic and... |
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