What are the investment target areas?
The programme aims to contribute to key EU policy objectives, such as supporting sustainable recovery, innovation and job creation in the European Union. For this reason, the InvestEU Fund targets investments in four different policy windows: social investment and skills; sustainable infrastructure; research, innovation and digitisation; and small and medium-sized enterprises.
Particularly of interest to social investors is the “social investment and skills window”, with a budget of €2.8 billion of the EU guarantee. This window aims to deliver on the principles of the European Pillar of Social Rights by supporting:
- Microfinance and social enterprises
- Social impact and innovation
- Education, training and skills
- Social infrastructure and services (including health and educational infrastructure, and social and student housing)
What are the financial instruments available?
Counter guarantees, guarantees, subordinated loans or equity products to invest, co-invest and build capacity.
How can I access the InvestEU Fund?
The InvestEU is managed indirectly, this means that the fund is allocated by implementing partners. The main implementing partner is the EIB Group (comprised of the EIB and EIF), responsible for the implementation of 75% of the EU guarantee (€11billion of the €26.2 billion), given its experience and capacity to operate in all EU member states. Other international financing institutions and national promotional banks are responsible for the remaining 25%. Social investors will be able to access the fund by engaging directly with one of the different implementing partners.
Who can apply?
Implementing partners can also provide financing directly to final recipients (e.g. businesses, NGOs, etc.) or indirectly through private or public financial intermediaries who can then provide support to the final recipients.
Different financial intermediaries and final beneficiaries will be targeted according to the policy windows and depending on the criteria set to the different financial instruments designed by the implementing partners.
Financial intermediaries or implementing partners of the InvestEU must invest in project promoters that are natural or legal persons established in an EU country or in eligible third countries (depends on the agreement they have with the EU to access funding programmes), including:
- Private entities
- Public-sector entities and public-sector type entities
- Mixed entities, such as public-private partnerships (PPPs) and private companies with a public purpose
- Non-profit organisations
Am I eligible to apply for the InvestEU Fund?
The InvestEU eligibility criteria is defined in the InvestEU regulation and in the investment guidelines. For the InvestEU products implemented by the EIB group, visit the European Investment Fund (EIF) page on calls for expression of interest.
Moreover, valid investment projects under InvestEU must:
- Address market failures or investment gaps
- Need EU backing in order to get off the ground
- Projects must be economically viable
- Achieve a multiplier effect and where possible crowd-in private investment
- Help meet EU policy objectives
The InvestEU Fund can be combined with grants or financial instruments (or both). When a project uses EU grants and InvestEU, the InvestEU rules will apply to the entire project. This means a single rulebook and a major simplification compared to the past.