On 2 May 2018 the European Commission released its Multiannual Financial Framework for the period 2020–2027, the budget plan for the next seven years. Under the budget for the Single Market, Innovation and Digital Transformation the Commission proposes to set up a new fund: InvestEU. The European Investment Bank will be the implementing partner of the fund, in close collaboration with the National Promotional Banks of the EU Member States. The aim of the Fund is to centralize all financial instruments and crowd-in private financing for Europe's future investment needs. The EU budget will contribute EUR 15.2 billion to the Fund, and it is expected that this will mobilize an additional EUR 650 billion.
European Commission Proposes Setting Up InvestEU to Mobilize Private Finance
May 2, 2018