Europäischer Rechnungshof - European Court of Auditors
EU investment plan (EFSI): has it delivered as promised?
Media advisory
For 19 March 2025
EU investment plan (EFSI): has it delivered as promised?
- Publication on Wednesday 19 March at 5.00 p.m. CET
- Interviews – and radio soundbites – available on request
On Wednesday 19 March 2025, the European Court of Auditors (ECA) will publish a special report on the European Fund for Strategic Investments (EFSI), which was launched in 2015 to tackle the investment gap in the EU.
Background
EFSI was created in 2015 by the European Commission and the European Investment Bank (EIB) Group. Its main goal was to tackle the lack of investment across EU countries in the wake of the 2007‑2008 financial crisis up to 2014, when total investment spending in the bloc fell by around 15 %, or about 430 billion compared to the peak that had been reached in 2007. EFSI provided €26 billion of EU budget guarantees and €7.5 billion of EIB funding for infrastructure, innovation, and small and medium-sized enterprises. It aimed to use these resources to mobilise €500 billion of additional investment in the real economy by the end of 2022.
The auditors examined the extent to which EFSI had driven additional investments, whether the estimates of the investments made were sound, and whether the Fund’s performance was well monitored and reported on. The lessons drawn can be used to improve the management of similar programmes, such as InvestEU. This is a follow-up to the ECA’s first audit of EFSI: in 2019, the auditors said the Fund’s effectiveness must be better substantiated, and called for action to make it a full success.
For the press
- The report and press release will be published on the ECA’s website (eca.europa.eu) at 5.00 p.m. CET on Wednesday 19 March 2025.
- The ECA Member responsible for the report is Lefteris Christoforou.
- Interviews and radio soundbites are available upon request.
- For media queries, please contact the ECA press office at press@eca.europa.eu
Press contact
ECA press office: press@eca.europa.eu
Damijan Fišer: M: (+352) 621 552 224