"InvestEU aims to provide more than €372 billion to public and private investors in the European economy in the period from 2021 to 2027. These investments will be enabled based on an EU guarantee of €26.2 billion, which will be used to support investments by InvestEU implementing partners such as the European Investment Bank (EIB)," it was said at the conference, organised by the EIB and European Commission (EC) Representation in Croatia in cooperation with the Croatian Chamber of Commerce (HGK).
The InvestEU programme builds on the successful model of mobilising investments, introduced by the Investment Plan for Europe, or the Juncker Plan, and combines the European Fund for Strategic Investments (EFSI) and 13 other EU financial instruments.
As a member of the EU, Croatia has an opportunity to accelerate its green and sustainable development based on long-term financing to be provided by InvestEU, primarily through investments in digital infrastructure, innovation, technology and skills, the EIB said in a press release.
This will empower citizens and EU economy with new generation technologies and accelerate the implementation of the EU Green Deal and "mobilise private investments for the EU's policy priorities such as the European Green Deal and the digital transition," the bank says.
The conference, held for representatives of state, public and private sectors, was addressed via video link also by Finance Minister Zdravko Marić.
The event discussed opportunities InvestEU provides and its priorities, components and available financing as well as consultancy in identifying and preparing projects, provided by the EIB Group as the lead implementing and advisory arm of the InvestEU programme.
InvestEU consists of three building blocks: the InvestEU Fund, the InvestEU Advisory Hub and the InvestEU Portal.
EIB Vice-President Teresa Czerwinska said the programme will provide a significant stimulus to investments in many critical areas of the economy throughout the EU.
The programme is a key element of what so far is the EU's largest package of measures that will boost recovery from the COVID pandemic and will help build a greener, more digital and more resilient European economy, Czerwinska said, adding that InvestEU will also help Europe meet new challenges, including those related to the war in Ukraine.
The EIB will be a vital component in implementing the programme, which will increase investments in clean energy, education, digitisation and urban infrastructure, she said, calling on Croatia's public and private sectors to learn how to absorb as much funding as possible from this programme in cooperation with the EIB.