Dear potential implementing partners,
Please find the following documents for your information :
Also attached are the two documents that are open for comments until 31 August 2019 via the functional mailbox: This email address is being protected from spambots. You need JavaScript enabled to view it.:
Further process on the Investment Guidelines:
The consultation will run until 31 August. All comments should be sent to the functional mailbox: This email address is being protected from spambots. You need JavaScript enabled to view it..
A feedback meeting will be held on 19 September in Brussels to take stock of the main comments received and present the Commission’s preliminary assessment. We don’t plan this as a big event and will provide VC/webinar connection facilities to ensure inclusive participation without necessarily a physical presence of those of you that would have to travel.
A consolidated version of the Investment Guidelines will be distributed ahead of and presented at the next workshop (date tbc, see below). It will be shared with co-legislators after the workshop.
Risk expert Working Group:
We invite you to appoint your expert by 31 August. We will condition participation to relevant expertise and would like to keep the working group relatively small so as to allow for proper technical discussions. A detailed agenda and first accompanying documents will be sent early September for a first meeting to be held in the third week of September.
Sustainability proofing and climate tracking Working Group:
We invite you to appoint your expert by 31 August. We will condition participation to relevant expertise and would like to keep the working group relatively small so as to allow for proper technical discussions. A detailed agenda and first accompanying documents will be sent in September in advance of the first meeting to be held in the fourth week of September. We remind you to send comments to the draft annotated table of comments that was presented at the June seminar (attached again) by 31 August. A draft document on climate tracking will follow by the end of the summer.
State aid:
A joint seminar by DG COMP and DG ECFIN will be organised on 5 September on the InvestEU GBER. It will take place in Brussels, tentatively planned from 10am to 1pm. Logistics will be sent out in a separate e-mail.
Model financial product fiches to be distributed later this summer:
As indicated in the attached paper on financial products and financing and investment operations, there will be three different types of product fiches:
- Model product fiches (guiding examples) to be distributed later this summer, see below
- Product fiches annexed to the Call for Expression of Interest
- Product fiches to be agreed bilaterally with the different implementing partners.
The Commission will distribute in the coming weeks 3 model product fiches based on existing products and/or the investment guidelines:
- Direct debt;
- Intermediated debt;
- Intermediated Equity.
These models have only illustrative purpose. They should not be considered as concrete products and policy expectations by the Commission. They should only provide guidance in your internal preparation work.
Next workshop with potential implementing partners (mid October or beginning of November, tbc):
The next workshop is planned for the autumn in Brussels. The date of 24 October informally announced to some of you had to be changed due to the EIF Financial Institutions Shareholder Group meeting that is taking place around the same date.
The following tentative agenda is currently foreseen:
- Investment Guidelines: presentation of the consolidated version
- Approval process (policy check, scoreboard, guarantee request form)
- Presentation of examples of possible InvestEU financial product fiches
- Breakout sessions on financial and advisory products
Kind regards,
ECFIN InvestEU Team