Ref. Ares(2016)5585462 - 27/09/2016
Brussels,
Ares (2016) 5957433
Dear Prime Minister,
As you are aware, the Investment Plan for Europe with its centerpiece, the
European Fund for Strategic Investments (EFSI), is one essential building block
of our agenda for jobs and growth in the European Union. After a succesful first
year, in which EUR 116 billion of investments have been mobilised across 26
countries, the Commission put forward on 14 September a legislative proposal
with the aim of doubling the financial capacity and duration of the EFSI. In
addition, the proposal foresees some targeted reinforcements of the current
EFSI, in particular as regards additionality, transparency of the criteria on
which projects are selected, improved geographical coverage and reinforced
principles of good tax governance.
On 14 September, the Commission also published an evaluation of the use of the
guarantee fund for the EFSI. An evaluation by the European Investment Bank,
the Commission's strategic partner in the Investment Plan for Europe, is due in
the coming weeks. Finally, the Commission has also awarded to an external
company, Ernst & Young, the carrying out of an independent study on the
functioning of the EFSI, which will be published in November.
Enclosed to this letter you will find a leaflet with an overview of the progress
made by the EFSI so far, as well as a summary of the EFSI-investments in your
country.
I count on your support for a rapid agreement on the reinforcement of the EFSI
so that we can together continue to promote jobs and growth in Europe at this
critical juncture.
Yours sincerely,
Mr Mariano RAJOY
Prime Minister of Spain
Electronically signed on 26/09/2016 16:43 (UTC+02) in accordance with article 4.2 (Validity of electronic documents) of Commission Decision 2004/563