### –support also joint programmes for mentoring , coaching , technical assistance and other services that are delivered close to innovators , by networks such as enterprise europe network , clusters , pan - european platforms such as startup europe , local innovation actors , public but also private , in particular incubators and innovation hubs that could moreover be interconnected to favour partnering between innovators . support may also be given to promote soft skills for innovation , including to networks of vocational institutions and in close relation with the european institute of innovation and technology ; ### –support also joint programmes for mentoring , coaching , technical assistance and other services that are delivered close to innovators , by networks such as enterprise europe network , clusters , pan - european platforms such as startup europe , local innovation actors , public but also private , in particular incubators and innovation hubs that could moreover be interconnected to favour partnering between innovators . support should also be given to promote soft skills for innovation , including to networks of vocational institutions and in close relation with the european institute of innovation and technology , special attention should be given to support the participation and engagement of the most deprived eu regions to which the lack of technical knowledge and human resources can be impeditive to participate in these programmes ;


### the accelerator will allow for fast - track take - up of innovations stemming from pathfinder - supported projects from the pathfinder , from similar member states ' advanced research programmes ' and from other pillars of the eu framework programmes28 , in order to support them to reach the market . this identification of projects supported in other pillars of horizon europe and also previous framework programmes will be based on pertinent methodologies , such as the innovation radar . _________________ 28 such as erc proof of concept , from projects supported under the ' global challenges and industrial competitiveness ' pillar , startups emerging from the kics of the european institute of innovation and technology , … including from horizon 2020 activities , particularly project selected under horizon 2020 sme phase 2 and related seal of excellence financed by member states , european partnerships . ### the accelerator will encourage applications of innovations stemming from pathfinder - supported projects from the pathfinder , from phase 1 and 2 of sme instrument for incremental innovation , from similar member states ' advanced research programmes ' and from other pillars of the eu framework programmes , in order to support them to reach the market . this identification of projects supported in other pillars of horizon europe and also previous framework programmes will be based on pertinent methodologies , such as the innovation radar .


### cultural heritage is the fabric of our lives , meaningful to communities , groups and societies , giving a sense of belonging . it is the bridge between the past and the future of our societies . it is a driving force of local economies and a powerful source of inspiration for creative and cultural industries . accessing , conserving , safeguarding and restoring , interpreting and harnessing the full potential of our cultural heritage are crucial challenges now and for future generations . cultural heritage is the major input and inspiration for the arts , traditional craftsmanship , the cultural , entrepreneurial and creative sectors that are drivers of sustainable economic growth , new job creation and external trade . ### diverse cultural heritage has a universal value for us as individuals , communities and societies across europe and beyond . diverse cultural heritage is the fabric of our lives , meaningful to communities , groups and societies , giving a sense of belonging in plural and diverse societies through the sharing of knowledge and experiences and promoting active engagement in the community . it is the bridge between the past and the future of our societies . it is a driving force of local economies and communities and a powerful source of inspiration for creative and cultural industries . accessing , conserving , safeguarding and restoring , interpreting and harnessing the full potential of our cultural heritage are crucial challenges now and for future generations . diverse cultural heritage is a major input and inspiration for the arts , traditional craftsmanship , the cultural , entrepreneurial , social innovation and creative sectors that are drivers of sustainable economic growth , new job creation and external trade .


### the commission shall establish a european innovation council for implementing actions under pillar iii ' open innovation ' which relate to the eic . the eic shall operate according to the following principles : focus on breakthrough and disruptive innovation , autonomy , ability to take risk , efficiency , effectiveness , transparency and accountability . ### the commission shall establish a european innovation council for implementing actions under pillar iii ' open innovation ' which relate to the eic . the eic shall operate according to the following principles : focus on breakthrough and disruptive innovation , as well as incremental and social innovation , autonomy , ability to take risk , efficiency , effectiveness , transparency and accountability .


### improved understanding of health drivers and risk factors determined by the social , economic and physical environment in people’s everyday life and at the workplace , including the health impact of digitalisation , pollution , climate change and other environmental issues , will contribute to identify and mitigate health risks and threats ; to reducing death and illness from exposure to chemicals and environmental pollution ; to supporting environmental - friendly , healthy , resilient and sustainable living and working environments ; to promoting healthy lifestyles and consumption behaviour ; and to developing an equitable , inclusive and trusted society . ### improved understanding of health drivers , determinants of health and risk factors determined by the social , economic and physical environment in people’s everyday life and at the workplace , including the health impact of digitalisation , pollution , rapid urbanisation , climate change and other national and transnational environmental issues , will contribute to improve disease prevention , identify and mitigate health risks and threats ; to reducing death and illness from exposure to chemicals and environmental pollution ; to supporting environmental - friendly , healthy , resilient and sustainable living and working environments ; to promoting healthy lifestyles including through tobacco control measures , consumption behaviour ; and to developing an equitable , inclusive and trusted society .


### food and natural resources ### food and natural resources from land and sea


### the eu has the unique chance of being a global leader and increase its share of world markets , by showcasing how digital transformation , leadership in key enabling and space technologies , the transition to a low - carbon , circular economy and competitiveness can reinforce each other through scientific and technological excellence . ### the eu has the unique chance of being a global leader and increase its share of world markets , by showcasing how digital transformation , leadership in key enabling and space technologies , the transition to a circular economy and cooperation can reinforce each other through scientific and technological excellence .


### improving skills for innovation ; ### improving skills for research and for technical and social innovation ;


### the eic board shall be composed of 15 to 20 high level individuals drawn from various parts of europe ' s innovation ecosystem , including entrepreneurs , corporate leaders , investors and researchers . it shall contribute to outreach actions , with eic board members striving to enhance the prestige of the eic brand . ### the eic board shall be composed of 15 to 20 independent high level individuals drawn from various parts of europe ' s innovation ecosystem , namely the social innovation , including entrepreneurs , corporate representatives , investors , researchers and other relevant actors from cultural domains . it shall contribute to outreach actions , with eic board members striving to enhance the prestige of the eic brand .


### the eic board shall be composed of 15 to 20 high level individuals drawn from various parts of europe ' s innovation ecosystem , including entrepreneurs , corporate leaders , investors and researchers . it shall contribute to outreach actions , with eic board members striving to enhance the prestige of the eic brand . ### the eic board shall be composed of 15 to 20 high level individuals drawn from various parts of europe ' s innovation ecosystem , including entrepreneurs , corporate leaders , investors , researchers , academia and designers . it shall contribute to outreach actions , with eic board members striving to enhance the prestige of the eic brand .


### the accelerator will mainly operate through a continuously open and bottom - up call , targeting individual entrepreneurs , with a particular attention paid to young and to women innovators . this open and bottom - up call will be complemented by targeted support for on emerging breakthrough or disruptive technologies of potential strategic significance . proposals may also be submitted by investors , including public innovation agencies , but the support will be awarded to the company . ### the accelerator will mainly operate through a continuously open and bottom - up call , targeting individual entrepreneurs , with a particular attention paid to young and to women innovators . this open and bottom - up call will be complemented by targeted support for on emerging breakthrough or disruptive technologies of potential strategic significance .


### in the implementation of horizon europe , particular attention will be paid to ensuring a balanced and broad approach to research and innovation , which is not only limited to the development of new products processes and services on the basis of scientific and technological knowledge and breakthroughs , but also incorporates the use of existing technologies in novel applications and continuous improvement and non - technological and social innovation . a systemic , cross - disciplinary , cross - sectoral and cross - policy approach to research innovation will ensure that challenges can be tackled while also giving rise to new competitive businesses and industries , fostering competition , stimulating private investments and preserving the level playing field in the internal market . ### in the implementation of horizon europe , particular attention will be paid to ensuring a balanced and broad approach to research and innovation , which is not only limited to the development of new products processes and services on the basis of scientific and technological knowledge and breakthroughs , but also incorporates the use of existing technologies in novel applications and continuous improvement and non - technological and social innovation . a systemic , cross - disciplinary , cross - sectoral and cross - policy approach to research innovation will ensure that challenges can be tackled while also giving rise to new competitive businesses and industries , fostering competition , stimulating private investments and preserving the level playing field in the internal market . in line with union commitments to the reduction and eradication of poverty , particular attention shall be paid to innovation for the benefit of international development and humanitarian assistance .


### open and excellent science is inextricably linked to the achievement of world leading innovation . scientific and technological paradigm shifts have been identified as key drivers for productivity growth , competitiveness , wealth , sustainable development and social progress . such paradigm shifts have historically tended to originate from the public - sector science base before going on to lay the foundations for whole new industries and sectors . ### open and excellent science is inextricably linked to the achievement of world leading innovation . scientific and technological paradigm shifts have been identified as key drivers for productivity growth , cooperation , wealth , sustainable and ecological development and social progress and inclusion . such paradigm shifts have historically tended to originate from the public - sector science base before going on to lay the foundations for whole new industries and sectors .


### health ### health - health throughout the life course - environmental and social health determinants - non - communicable and rare diseases - infectious diseases - tools , technologies and digital solutions for health and care - health care systems - cancer - cardiovascular diseases - precision medicine


### –methods , technologies and tools for sustainable and resilient production in farming and forestry ; ### –methods , technologies and innovative tools for sustainable and resilient production in farming and forestry and for the most efficient use of water resources ;


### meeting the goals of sustainable development , guaranteeing the production and consumption of safe and healthy food , promoting sustainable practices in agriculture , aquaculture , fisheries and forestry , ensuring access to clean water , soil and air for all , cleaning up the seas and oceans , preserving and restoring the planet’s vital natural systems and environment requires that we harness the potential of research and innovation . but the pathways for the transition to sustainability and ways to overcome resilient barriers are hardly understood . making the transition to sustainable consumption and production and restoring planetary health requires investing in technologies , new business models , and social and environmental innovation . this creates new opportunities for a sustainable , resilient , innovative and responsible european economy , boosting resource efficiency , productivity and competitiveness , and generating jobs and growth . ### meeting the goals of sustainable development , guaranteeing the production and consumption of safe and healthy food , promoting sustainable practices in agriculture , aquaculture , fisheries and forestry , ensuring access to clean water , soil and air for all , cleaning up the seas and oceans , preserving and restoring the planet’s vital natural systems and environment requires that we harness the potential of research and innovation . but the pathways for the transition to sustainability and ways to overcome resilient barriers are hardly understood . making the transition to sustainable consumption and production and restoring planetary health requires investing in technologies , new business models , and social and environmental innovation . this creates new opportunities for a sustainable , resilient , innovative and responsible european economy , boosting resource efficiency , productivity and competitiveness , and supporting the creation of quality jobs and sustainable economic and social growth .


### the european innovation council and european innovation ecosystems ### the european innovation council


### in the implementation of horizon europe , particular attention will be paid to ensuring a balanced and broad approach to research and innovation , which is not only limited to the development of new products processes and services on the basis of scientific and technological knowledge and breakthroughs , but also incorporates the use of existing technologies in novel applications and continuous improvement and non - technological and social innovation . a systemic , cross - disciplinary , cross - sectoral and cross - policy approach to research innovation will ensure that challenges can be tackled while also giving rise to new competitive businesses and industries , fostering competition , stimulating private investments and preserving the level playing field in the internal market . ### in the implementation of horizon europe , particular attention will be paid to ensuring a balanced and broad approach to research and innovation , which is not only limited to the development of new products processes and services on the basis of scientific and technological knowledge and breakthroughs , but also incorporates the use of existing technologies in novel applications and continuous improvement and non - technological and social innovation . a systemic , cross - disciplinary , cross - sectoral and cross - policy approach to research and innovation will ensure that societal challenges can be tackled while also , where in line with sustainable development , giving rise to new competitive businesses and industries , fostering competition , stimulating private investments and preserving the level playing field in the internal market .


### –strategies to address populism , extremism , radicalisation , terrorism and to include and engage disaffected and marginalised citizens ; ### –strategies to address populism , extremism , radicalisation , discrimination and hate speeches and to actively include , empower and engage disaffected , vulnerable and marginalised citizens ;


### the eit education activities will be reinforced to foster innovation and entrepreneurship through better education and training . a stronger focus on human capital development will be grounded on the expansion of existing eit kics education programmes in the view of continuing to offer students and professionals high quality curricula based on innovation and entrepreneurship in line in particular with the eu industrial and skills strategy . this may include researchers and innovators supported by other parts of horizon europe , in particular msca . the eit will also support the renewal of european universities and their integration in innovation ecosystems by stimulating and increasing their entrepreneurial potential and capabilities and encouraging them to better anticipate new skills requirements . ### the eit education activities will be reinforced to foster innovation and entrepreneurship through better education and training . a stronger focus on human capital development will be grounded on the expansion of existing eit kics education programmes in the view of continuing to offer students and professionals high quality curricula based on innovation and entrepreneurship in line in particular with the eu industrial and skills strategy . this may include researchers and innovators supported by other parts of horizon europe , in particular msca . the eit will also support the renewal of european universities and their integration in innovation ecosystems by stimulating and increasing their innovation potential and capabilities and encouraging them to better anticipate new skills requirements .


### –technologies for assessing hazards , exposures and health impact of chemicals , pollutants and other stressors , including climate - related and environmental stressors , and combined effects of several stressors ; ### –safe , effective and affordable , technologies , including low - cost technologies , for assessing hazards , exposures and health impact of chemicals , pollutants and other stressors , including climate - related and environmental stressors , and combined effects of several stressors ;


### trans - border aspects of infectious diseases and specific challenges in low - and middle - income countries , such as tropical diseases . ### trans - border aspects of research and development of medicines in infectious diseases and specific challenges in low - and middle - income countries , in particular poverty - related diseases , such as neglected tropical diseases , aids , tuberculosis , and malaria . poverty - related and neglected diseases need to be tackled in a comprehensive approach based on partnership with member states , affected regions and research and expert institutions , building on the success of the second european and developing countries clinical trials partnership programme and including the development of new treatment methods for infectious diseases to counteract antibiotic resistance .


### these health challenges are complex , interlinked and global in nature and require multidisciplinary , cross - sectorial and transnational collaborations . research and innovation activities will build close linkages between discovery , clinical , epidemiological , environmental and socio - economic research as well as with regulatory sciences . they will harness the combined skills of academia and industry and foster their collaboration with health services , patients , policy - makers and citizens in order to leverage on public funding and ensure the uptake of results in clinical practice as well as in health care systems . they will foster strategic collaboration at eu and international level in order to pool the expertise , capacities and resources needed to create economies of scale , scope and speed as well as to share the expected benefits and financial risks involved . ### these health challenges are complex , interlinked and global in nature and require multidisciplinary , cross - sectorial and transnational collaborations , including with low and middle income countries . research and innovation activities will build close linkages between discovery , clinical , epidemiological , environmental and socio - economic research as well as with regulatory sciences . they will harness the combined skills of academia , not - for - profit product developers and industry and foster their collaboration with health services , patients , policy - makers , civil society organisations and citizens in order to leverage on public funding and ensure the uptake of results in clinical practice as well as in health care systems . they will foster strategic collaboration at eu and international level in order to pool the expertise , capacities and resources needed to create economies of scale , scope and speed as well as to share the expected benefits and financial risks involved .


### additionally , as a continued effort to enhance risk - finance capacities for research and innovation in europe and where necessary , this pillar will link with the investeu programme . building on the successes and the experiences gained under horizon 2020 innovfin , as well as under efsi , the investeu programme will enhance access to risk finance for bankable research organisations , innovators and entrepreneurs , in particular for smes and small midcaps , as well as for investors . ### additionally , as a continued effort to enhance risk - finance capacities for research and innovation in europe and where necessary , this pillar will link with the investeu programme . building on the successes and the experiences gained under horizon 2020 innovfin , as well as under efsi , the investeu programme will enhance access to risk finance for bankable research organisations , innovators and entrepreneurs , in particular for smes , as well as for investors .


### the eu stands for a unique way of combining economic growth with social policies , with high levels of social inclusion , shared values embracing democracy , human rights , gender equality and the richness of diversity . this model is constantly evolving and needs to deal with the challenges from amongst other things , globalisation and technological change . europe also has to respond to the challenges arising from persistent security threats . terrorist attacks and radicalisation , as well as cyber - attacks and hybrid threats , raise major security concerns and put particular strain on societies . ### the eu stands for a unique way of combining economic growth with social policies , with high levels of social inclusion , shared values embracing democracy , human rights , gender equality and the richness of diversity . this model is constantly evolving and needs to deal with the challenges from amongst other things , globalisation and technological change .


### reducing disparities in research and innovation performance by sharing knowledge and expertise across the eu will help countries and regions that are lagging behind in terms of research and innovation performance , including the eu outermost regions , to attain a competitive position in the global value chains . activities may also be established to foster brain circulation right across era and better exploitation of existing research infrastructures in the targeted countries through mobility of researchers and innovators . ### reducing disparities in research and innovation performance by sharing knowledge and expertise across the eu will help countries and regions that are lagging behind in terms of research and innovation performance , including the eu outermost regions and less developed regions , to attain a competitive position in the global value chains . activities may also be established to foster brain circulation right across era and better exploitation of existing research infrastructures in the targeted countries through mobility of researchers and innovators .


### –social sustainability beyond gdp only indicators especially new economic and business models and new financial technologies ; ### –social innovation and sustainability ;


### cluster ' food and natural resources ' ### cluster ' food and natural resources from land and sea


### –promote and co - fund joint innovation programmes managed by authorities in charge of public national , regional or local innovation policies and programmes , to which private entities supporting innovation and innovators may be associated . such demand - driven joint programmes may target , among others , early stage and feasibility study support , academia - enterprise cooperation , support to high - tech smes ' collaborative research , technology and knowledge transfer , internationalisation of smes , market analysis and development , digitalisation of low - tech smes , financial instruments for close to market innovations activities or market deployment , social innovation . they may also include joint public procurement initiatives , enabling innovations to be commercialised in the public sector , in particular in support of the development of new policy . this could be particularly effective to stimulate innovation in public service areas and to provide market opportunities to european innovators . ### –promote and co - fund joint innovation programmes managed by authorities in charge of public national , regional or local innovation policies and programmes , to which private entities supporting innovation and innovators should be associated . such demand and supply driven joint programmes may target , among others , early stage and feasibility study support , academia - enterprise cooperation , support to high - tech smes ' collaborative research , technology and knowledge transfer , internationalisation of smes , market analysis and development , digitalisation of low - tech smes , financial instruments for close to market innovations activities or market deployment , social innovation . they may also include joint public procurement initiatives , enabling innovations to be commercialised in the public sector , in particular in support of the development of new policy . when managed at the local level , these programmes should allow transnational partnerships and should be coherent with the smart specialization strategies of the involved regions . they should be financed in part with the erdf . this could be particularly effective to stimulate innovation in public service areas and to provide market opportunities to european innovators and promote synergies between the programme and the erdf .


### health technologies and tools are vital for public health and contributed to a large extent to the important improvements achieved in the quality of life , health and care of people , in the eu . it is thus a key strategic challenge to design , develop , deliver and implement suitable , trustable , safe , and cost - effective tools and technologies for health and care , taking due account of the needs of people with disabilities and the aging society . these include artificial intelligence and other digital technologies , offering significant improvements over existing ones , as well as stimulating a competitive and sustainable health - related industry that creates high - value jobs . the european health - related industry is one of the critical economic sectors in the eu , accounting for 3% of gdp and 1 . 5 million employees . ### health technologies and tools are vital for public health and contributed to a large extent to the important improvements achieved in the quality of life , health and care of people , in the eu . it is thus a key strategic challenge to design , develop , deliver and implement suitable , trustable , safe , affordable and effective tools and technologies for health and care , taking due account of the needs of people with disabilities and the aging society . these include artificial intelligence and other digital technologies , offering significant improvements over existing ones , as well as stimulating a competitive and sustainable health - related industry that creates high - value jobs . the european health - related industry is one of the critical economic sectors in the eu , accounting for 3% of gdp and 1 . 5 million employees .


### –breakthrough manufacturing technologies such as additive manufacturing , industrial robotics , human integrated manufacturing systems , also promoted via an eu network of industrially - oriented infrastructures ; ### –breakthrough manufacturing technologies such as additive manufacturing , welding , modelling and simulation , and robotic technologies , human integrated manufacturing systems , also promoted via an eu network of industrially - oriented infrastructures ;


### –nano - electronics design and processing concepts responding to the specific requirements of digital transformation and global challenges , in terms of functionality , energy consumption and integration ; ### –nano - electronics design and processing concepts responding to the specific requirements of digital transformation and global challenges , in terms of functionality , energy consumption and efficiency and integration ;


### the specific programme ' s actions should be used to address market failures or sub - optimal investment situations , in a proportionate manner , without duplicating or crowding out private financing and have a clear european added value . ### the specific programme ' s actions should be used to reinforce , widen and extend the excellence of the union ' s scientific and technological base , tackle major global challenges , environment and economic sustainability and climate changes as well as to improve people ' s life namely through better employment , access to health and education , social inclusion , active citizenship .


### reflecting the important contribution that research and innovation should make to address challenges in food , agriculture , rural development and the bioeconomy , and to seize the corresponding research and innovation opportunities in close synergy with common agricultural policy , relevant actions under the specific programme will be supported with eur 10 billion for the cluster ' food and natural resources ' for the period 2021 - 2027 . ### reflecting the important contribution that research and innovation should make to address challenges in food , agriculture , fisheries and aquaculture , rural development and the bioeconomy , and to seize the corresponding research and innovation opportunities in close synergy with common agricultural policy and common fisheries policy , relevant actions under the specific programme will be supported with eur 16 billion for the cluster ‘ food , natural resources , seas and oceans’ for the period 2021 - 2027 .


### –quality of life for the citizens , safe mobility , urban social innovation , cities ' circular and regenerative capacity , reduced environmental footprint and pollution ; ### –quality of life for the citizens , safe mobility , urban and rural social innovation , cities ' circular and regenerative capacity , reduced environmental footprint and pollution ;


### –providing researchers with attractive career environments , skills and competences needed in the modern knowledge economy36 . linking the era and the european higher education area by supporting the modernisation of universities and other research and innovation organisations , through recognition and reward mechanisms to spur actions at national level , as well as incentives promoting the adoption of open science practices , entrepreneurship , trans - disciplinarity , citizen engagement , international and inter - sectoral mobility , gender equality plans and comprehensive approaches to institutional changes . in that context , also complementing the erasmus programme support for the european universities initiative , in particular its research dimension , as part of developing new joint and integrated long term and sustainable strategies on education , research and innovation based on trans - disciplinary and cross - sectoral approaches to make the knowledge triangle a reality , providing impetus to economic growth . _________________ 36 including notably the european charter for researchers , the code of conduct for the recruitment of researchers , euraxess and resaver pension fund . ### –providing researchers with attractive career environments , such as equal payment for equal career , skills and competences needed in the modern knowledge economy36 . linking the era and the european higher education area by supporting the modernisation of universities and other research and innovation organisations , through recognition and reward mechanisms to spur actions at national level , as well as incentives promoting the adoption of open science practices , entrepreneurship , trans - disciplinarity , citizen engagement , international and inter - sectoral mobility , gender equality plans and comprehensive approaches to institutional changes . in that context , also complementing the erasmus programme support for the european universities initiative , in particular its research dimension , as part of developing new joint and integrated long term and sustainable strategies on education , research and innovation based on trans - disciplinary and cross - sectoral approaches to make the knowledge triangle a reality , providing impetus to economic growth . _________________ 36 including notably the european charter for researchers , the code of conduct for the recruitment of researchers , euraxess and resaver pension fund .


### –promote and co - fund joint innovation programmes managed by authorities in charge of public national , regional or local innovation policies and programmes , to which private entities supporting innovation and innovators may be associated . such demand - driven joint programmes may target , among others , early stage and feasibility study support , academia - enterprise cooperation , support to high - tech smes ' collaborative research , technology and knowledge transfer , internationalisation of smes , market analysis and development , digitalisation of low - tech smes , financial instruments for close to market innovations activities or market deployment , social innovation . they may also include joint public procurement initiatives , enabling innovations to be commercialised in the public sector , in particular in support of the development of new policy . this could be particularly effective to stimulate innovation in public service areas and to provide market opportunities to european innovators . ### – - promote and co - fund joint innovation programmes managed by authorities in charge of public national , regional or local innovation policies and programmes , to which private entities supporting innovation and innovators may should be associated . such demand and supply driven joint programmes may target , among others , early stage and feasibility study support , academia - enterprise cooperation , support to high - tech smes ' collaborative research , technology and knowledge transfer , internationalisation of smes , market analysis and development , digitalisation of low tech smes , financial instruments for close to market innovations activities or market deployment , social innovation . they may also include joint public procurement initiatives , enabling innovations to be commercialised in the public sector , in particular in support of the development of new policy . when managed at the local level , these programmes should allow transnational partnerships and should be coherent with the smart specialization strategies of the involved regions . this could be particularly effective to stimulate innovation in public service areas , to provide market opportunities to european innovators and promote synergies between the programme and the erdf .


### the eu has the unique chance of being a global leader and increase its share of world markets , by showcasing how digital transformation , leadership in key enabling and space technologies , the transition to a low - carbon , circular economy and competitiveness can reinforce each other through scientific and technological excellence . ### the eu has the unique chance of being a global leader and increase its share of world markets , by showcasing how digital transformation , leadership in key enabling and space technologies , the transition to a circular economy and cooperation can reinforce each other through scientific and technological excellence .


### clusters will develop and apply digital , key enabling and emerging technologies as part of a common strategy to promote the eu ' s industrial leadership . where appropriate this will use eu space - enabled data and services . ### clusters shall focus on addressing societal challenges , guided by the sdgs , and will develop and apply digital , key enabling and emerging technologies as part of a common strategy to promote the eu ' s industrial leadership within a framework of sustainable development . where appropriate this will use eu space - enabled data and services .


### that positive momentum should be maintained and efforts need to be continued to bring investment back to its long - term sustainable trend . the mechanisms of the investment plan work and should be reinforced to continue the mobilisation of private investments in sectors important to europe ' s future and where market failures or sub - optimal investment situations remain . ### efforts need to be continued to bring investment back to a sustainable trend . the mechanisms of the investment plan should be adapted to ensure the mobilisation of investments in sectors important to europe ' s future and where market failures or sub - optimal investment situations remain .


### since the investment plan for europe was presented in november 20143 , the conditions for an uptake in investment have improved and confidence in europe ' s economy and growth are returning . the union is now in its fourth year of moderate recovery , with gross domestic product growing at 2% in 2015 . the comprehensive efforts initiated with the investment plan are already delivering concrete results , despite the fact that macroeconomic effects of larger investment projects cannot be immediate . investment is expected to pick up gradually throughout 2016 and 2017 although it remains below historical levels . __________________ 3 com 903 final . ### since the investment plan for europe was presented in november 20143 , the conditions of europe ' s economy have remained largely unchanged . the union is now in its fourth year of moderate recovery , with gross domestic product growing at 2% in 2015 , but unemployment rates remain above their pre - crisis levels . investment is expected to pick up gradually throughout 2016 and 2017 but remains below historical levels . __________________ 3 com 903 final .


### such support shall include providing targeted support on the use of technical assistance for project structuring , on the use of innovative financial instruments and on the use of public - private partnerships , taking into account the specificities and needs of member states with less - developed financial markets . ; ### such support shall include providing targeted support on the use of technical assistance for project structuring , taking into account the specificities and needs of member states ;


### the efsi was established for an initial period of three years and with the aim of mobilising at least eur 315 billion in investments . given its success , the commission is committed to the doubling of the efsi , both in terms of duration and financial capacity . the legal extension covers the period of the current multiannual financial framework and should provide a total of at least half a trillion euro investments by 2020 . in order to enhance the firepower of the efsi even further and reach the aim of doubling the investment target , member states should also contribute as a matter of priority . ### the efsi was established for an initial period of three years and with the aim of mobilising at least eur 315 billion in investments . the commission is committed to the doubling of the efsi , both in terms of duration and financial capacity . the legal extension covers the period of the current multiannual financial framework and should provide a total of at least half a trillion euro investments by 2020 . in order to enhance the firepower of the efsi even further and reach the aim of doubling the investment target , member states should also contribute as a matter of priority .


### by terms indicated in the relevant product specification . ### by any terms permitted by the relevant product specification .


### this directive shall not apply to the acquisition or possession of weapons and ammunition , in accordance with national law , by the armed forces , the police , the public authorities . nor shall it apply to commercial transfers of weapons and ammunition of war . ### this directive shall not apply to the acquisition or possession of weapons and ammunition , in accordance with national law , by the armed forces , the police , the public authorities .


### for the purposes of this directive , ' essential component ' shall mean the barrel , frame , receiver , slide or cylinder , bolt or breach block and any device designed or adapted to diminish the sound caused by firing a firearm which , being separate objects , are included in the category of the firearms on which they are or are intended to be mounted . ### for the purposes of this directive , ' essential component ' shall mean the barrel , frame , receiver , slide or cylinder , bolt or breach block and any device designed or adapted to diminish the sound caused by firing a firearm which , being separate objects , are included in the category of the firearms on which they are or are intended to be mounted ; the ammunition needed to fire the device shall also fall under this category .


### considering an application to be manifestly unfounded in accordance with article 32 or unfounded after examination in accordance with article 31 , except for cases where these decisions are based on the circumstances referred to in article 31 ; ### article 46 , paragraph 6 , point a is replaced by the following : considering an application to be manifestly unfounded in accordance with article 32 or unfounded after examination in accordance with article 31 , except for cases where these decisions are based on the circumstances referred to in article 31 and ;


### a third country designated as a safe country of origin in accordance with this directive by national law or that is on the eu common list of safe countries of origin established by regulation no xxxx / 2015 of the european parliament and of the council* [ this regulation ] may , after an individual examination of the application , be considered as a safe country of origin for a particular applicant only if : ### a third country designated as a safe country of origin in accordance with this directive by national law or that is on the eu common list of safe countries of origin established by regulation no xxxx / 2015 of the european parliament and of the council* [ this regulation ] may , after an individual examination of the application , including a personal interview within the meaning of article 14 and without derogating from article 22 , be considered as a safe country of origin for a particular applicant only if :


### in light of the very sharp increase that has been experienced since 2014 in the number of applications for international protection made in the union and the resulting unprecedented pressure on member states’ asylum systems the union acknowledged the need to strengthen the application of the safe country of origin provisions of directive 2013 / 32 / eu , as an essential tool to support the swift processing of applications that are likely to be unfounded . in particular , in its conclusions of 25 and 26 june 2015 , the european council referred , in relation to the need to accelerate the treatment of asylum applications , to the intention of the commission as set out in its communication on a european agenda on migration8 to strengthen these provisions , including the possible establishment of an eu common list of safe countries of origin . moreover , the justice and home affairs council in its conclusions on safe countries of origin of 20 july 2015 welcomed the intention of the commission to strengthen the safe countries of origin provisions in directive 2013 / 32 / eu , including the possible establishment of an eu common list of safe countries of origin . __________________ 8 com 240 final , 13 . 5 . 2015 . ### in light of the very sharp increase that has been experienced since 2014 in the number of applications for international protection made in the union and the resulting unprecedented pressure on member states’ asylum systems the union acknowledged the need to strengthen the application of the safe country of origin provisions of directive 2013 / 32 / eu . in particular , in its conclusions of 25 and 26 june 2015 , the european council referred , in relation to the need to accelerate the treatment of asylum applications , to the intention of the commission as set out in its communication on a european agenda on migration8 to strengthen these provisions , including the possible establishment of an eu common list of safe countries of origin . moreover , the justice and home affairs council in its conclusions on safe countries of origin of 20 july 2015 welcomed the intention of the commission to strengthen the safe countries of origin provisions in directive 2013 / 32 / eu , including the possible establishment of an eu common list of safe countries of origin . __________________ 8 com 240 final , 13 . 5 . 2015 .


### the provisions of directive 2013 / 32 / eu related to the application of the safe country of origin concept should be applicable in relation to third countries that are on the eu common list established by this regulation . this means , in particular , that the circumstance that a third country is on the eu common list of safe countries of origin cannot establish an absolute guarantee of safety for nationals of that country and does not dispense therefore with the need to conduct an appropriate individual examination of the application for international protection . in addition , it should be recalled that , where an applicant shows that there are serious reasons to consider the country not to be safe in his or her particular circumstances , the designation of the country as safe can no longer be considered relevant for him or her . ### the provisions of directive 2013 / 32 / eu related to the application of the safe country of origin concept should be applicable in relation to third countries that are on the eu common list established by this regulation . this means , in particular , that the circumstance that a third country is on the eu common list of safe countries of origin cannot establish an absolute guarantee of safety for nationals of that country and does not dispense therefore with the need to conduct an appropriate individual examination of the application for international protection . all applications should be considered on the applicants circumstances in the third country and where an applicant shows that there are serious reasons on grounds of race , ethnicity , religion or belief , sexual orientation , nationality , membership of a particular social group or political and social opinion or activities , to consider the country not to be safe in his or her particular circumstances , the designation of the country as safe can no longer be considered relevant for him or her . due care must also be given to applicants from minority groups where burden of proof can violate their dignity or put them increased risk of danger and that all applicants have the right to an effective remedy in the case of a negative decision as well as lawfully remain on the territory pending such an appeal . in addition , procedures for returning asylum - seekers who do not meet the criteria must not violate the principle of non - refoulement .


### in case of sudden changes in the situation of a third country that is on the eu common list of safe countries of origin , the commission shall conduct a substantiated assessment of the fulfilment by that country of the conditions set in annex i of directive 2013 / 32 / eu and , if those conditions are no longer met , shall adopt , in accordance with article 290 tfue , a decision suspending the presence of that third country from the eu common list for a period of one year . ### in case of sudden changes in the situation of a third country that is on the eu common list of safe countries of origin , the commission shall immediately conduct a substantiated assessment of the fulfilment by that country of the conditions set in annex i of directive 2013 / 32 / eu , based on the sources of information listed in article 2 and in accordance with the consultation obligation established in article 3b and , if those conditions are no longer met , shall adopt as soon as possible , in accordance with article 290 tfeu , a decision suspending the presence of that third country from the eu common list for a period of one year . as soon as possible after it becomes aware of the change in situation and in any event before adopting the decision suspending inclusion of that third country from the eu common list , the commission shall inform the member states and recommend to them not to apply the safe country of origin concept to that third country at the national level .


### the provisions of directive 2013 / 32 / eu related to the application of the safe country of origin concept should be applicable in relation to third countries that are on the eu common list established by this regulation . this means , in particular , that the circumstance that a third country is on the eu common list of safe countries of origin cannot establish an absolute guarantee of safety for nationals of that country and does not dispense therefore with the need to conduct an appropriate individual examination of the application for international protection . in addition , it should be recalled that , where an applicant shows that there are serious reasons to consider the country not to be safe in his or her particular circumstances , the designation of the country as safe can no longer be considered relevant for him or her . ### the provisions of directive 2013 / 32 / eu related to the application of the safe country of origin concept should be applicable in relation to third countries that are on the eu common list established by this regulation . this regulation creating an eu common list of safe countries cannot establish an absolute guarantee of safety for nationals of a third country and in no circumstances absolves member states from their obligations to conduct an appropriate individual examination of the application for international protection in accordance with the procedural safeguards laid down in directive 2013 / 32 / eu during which applicants will be able to access the full range of services and resources available to all in the asylum procedure , including but not limited to , legal assistance , translation , safe accommodation and access to an appeal process . all applications should be considered on the applicants circumstances in the third country and where an applicant shows that there are serious reasons on grounds of gender , race , religion , sexual orientation , gender identity , nationality , membership of a particular social group or political opinion , to consider the country not to be safe in his or her particular circumstances , the designation of the country as safe can no longer be considered relevant for him or her . due care must also be given to applicants from minority groups where burden of proof can violate their dignity or put them increased risk of danger and that all applicants should have the right to an effective remedy in the case of a negative decision as well as lawfully remain on the territory pending such an appeal . in addition , procedures for returning applicants who do not meet the criteria must not violate the principle of non - refoulement .


### the extended efsi should address remaining market failures and sub - optimal investment situations and continue to mobilise private sector financing in investments crucial for europe’s future job creation – including for the youth – , growth and competitiveness with strengthened additionality . they include investments in the areas of energy , environment and climate action , social and human capital and related infrastructure , healthcare , research and innovation , cross - border and sustainable transport , as well as the digital transformation . in particular , the contribution of operations supported by the efsi to achieving the union ' s ambitious targets set at the paris climate conference should be reinforced . energy interconnection priority projects and energy efficiency projects should also be increasingly targeted . in addition , efsi support to motorways should be avoided , unless it is needed to support private investment in transport in cohesion countries or in cross - border transport projects involving at least one cohesion country . for reasons of clarity , although they are already eligible , it should be explicitly laid down that projects in the fields of agriculture , fishery and aquaculture come within the general objectives eligible for efsi support . ### the efsi should address remaining market failures and sub - optimal investment situations and continue to mobilise private sector financing in investments crucial for europe ' s future job creation – including for the youth – , growth and competitiveness with strengthened additionality . they include investments in the areas of energy , environment and climate action , social and human capital and related infrastructure , healthcare , research and innovation , cross - border and sustainable transport , as well as the digital transformation . in particular , the contribution of operations supported by the efsi to achieving the union ' s ambitious targets set at the paris climate conference should be reinforced . electricity interconnection priority projects and energy efficiency projects should also be increasingly targeted . in addition , efsi support to motorways should be avoided , except for cross - border sections as defined in transport in article 2 of regulation 1316 / 2013 between cohesion countries . it should be explicitly laid down that projects in the fields of agriculture , fishery and aquaculture are not eligible for efsi support . efsi support for fossil fuel projects , especially infrastructure and nuclear installations should be avoided . given the very high rates of poverty and social exclusion in europe , the operations supported by the efsi to tackling this issue should be reinforced . further given the significant need for investment into social infrastructure , projects in the fields of social services , healthcare services , education and social housing come within the general objectives eligible for efsi support .


### in line with the exceptional market demand for sme financing under the efsi which is expected to continue , the efsi sme window should be enhanced . particular attention should be paid to social enterprises , including through the development and deployment of new instruments . ### in line with the exceptional market demand for sme financing under the efsi , the efsi sme window should be enhanced with additional resources , as well as the support capacities for smes of the advisory hub . particular attention should be paid to social enterprises .


### the extended efsi should address remaining market failures and sub - optimal investment situations and continue to mobilise private sector financing in investments crucial for europe’s future job creation – including for the youth – , growth and competitiveness with strengthened additionality . they include investments in the areas of energy , environment and climate action , social and human capital and related infrastructure , healthcare , research and innovation , cross - border and sustainable transport , as well as the digital transformation . in particular , the contribution of operations supported by the efsi to achieving the union ' s ambitious targets set at the paris climate conference should be reinforced . energy interconnection priority projects and energy efficiency projects should also be increasingly targeted . in addition , efsi support to motorways should be avoided , unless it is needed to support private investment in transport in cohesion countries or in cross - border transport projects involving at least one cohesion country . for reasons of clarity , although they are already eligible , it should be explicitly laid down that projects in the fields of agriculture , fishery and aquaculture come within the general objectives eligible for efsi support . ### the extended efsi should address market failures and sub - optimal investment situations to mobilise public sector financing in investments crucial for europe ' s future job creation – including for the youth – and growth with ensured additionality . they include investments in the areas of energy , environment and climate action , social economy and related infrastructure , healthcare , research and innovation , cross - border and sustainable transport , as well as the digital transformation . in particular , the contribution of operations supported by the efsi to achieving the ambitious targets set at the paris climate conference and the eu 2050 commitment to reduce greenhouse gas emissions by 80 - 95% , must be reinforced . energy efficiency projects should also be increasingly targeted . in addition , efsi support to motorways or fossil fuel projects must be avoided . for reasons of clarity , although they are already eligible , it should be explicitly laid down that projects in the fields of agriculture , fishery and aquaculture come within the general objectives eligible for efsi support .


### ‘ leveraging local knowledge to facilitate efsi support across the union and contributing where possible to the objective of sectorial and geographical diversification of the efsi referred to in section 8 of annex ii by supporting the eib to originate operations ; ’ ### ‘ leveraging regional and local knowledge to facilitate efsi support across the union and contributing to the objective of sectorial and geographical diversification of the efsi referred to in section 8 of annex ii by supporting the eib and project promoters to originate operations ; ’


### the extended efsi should address remaining market failures and sub - optimal investment situations and continue to mobilise private sector financing in investments crucial for europe’s future job creation – including for the youth – , growth and competitiveness with strengthened additionality . they include investments in the areas of energy , environment and climate action , social and human capital and related infrastructure , healthcare , research and innovation , cross - border and sustainable transport , as well as the digital transformation . in particular , the contribution of operations supported by the efsi to achieving the union’s ambitious targets set at the paris climate conference should be reinforced . energy interconnection priority projects and energy efficiency projects should also be increasingly targeted . in addition , efsi support to motorways should be avoided , unless it is needed to support private investment in transport in cohesion countries or in cross - border transport projects involving at least one cohesion country . for reasons of clarity , although they are already eligible , it should be explicitly laid down that projects in the fields of agriculture , fishery and aquaculture come within the general objectives eligible for efsi support . ### the extended efsi should address remaining market failures and sub - optimal investment situations and continue to mobilise private sector financing in investments crucial for europe’s future job creation , to foster public and private partnerships and to support strategic investments with strengthened additionality and with high social , environmental , territorial and economic added value , embracing the union’s economic , social and territorial cohesion . particular attention should be paid to the regions referred to in article 174 tfeu . included are investments , in line with current economic trends , such as in the areas of energy , environment and climate action , social and human capital and related infrastructure , healthcare , research and innovation , cross - border and sustainable transport , as well as the digital transformation . the contribution of operations supported by the efsi to achieving the union’s ambitious targets set at the paris climate conference should be reinforced . energy interconnection priority projects and energy efficiency projects should also be increasingly targeted . in addition , efsi support to motorways should be avoided , unless it is needed to support investment in transport in cohesion countries or in cross - border transport projects involving at least one cohesion country . for reasons of clarity , although they are already eligible , it should be explicitly laid down that projects in the fields of agriculture , fishery and aquaculture come within the general objectives eligible for efsi support .


### when the spawning biomass of any of the stocks concerned for a certain year is below the minimum spawning biomass levels set out in paragraph 1 , appropriate remedial measures shall be adopted to ensure rapid return of the stock concerned to precautionary levels . in particular , by way of derogation from article 4 of this regulation and in accordance with article 16 of regulation no 1380 / 2013 fishing opportunities shall be set at levels lower than those resulting in target fishing mortality ranges laid down in article 4 . these remedial measures may also include , as appropriate , the submission of legislative proposals by the commission and emergency measures adopted by the commission under article 12 of regulation no 1380 / 2013 . ### when the biomass of any of the stocks concerned for a certain year is below the levels corresponding to maximum sustainable yield set out in paragraph 1 , appropriate remedial measures shall be adopted to ensure rapid return of the stock concerned to precautionary levels . in particular , by way of derogation from article 4 of this regulation and in accordance with article 16 of regulation no 1380 / 2013 fishing opportunities shall be discontinued , or set at levels substantially lower than those resulting in target fishing mortality ranges laid down in article 4 . these remedial measures may also include , as appropriate , the submission of legislative proposals by the commission and emergency measures adopted by the commission under article 12 of regulation no 1380 / 2013 .


### the commission shall be empowered to adopt implementing acts in accordance with the examination procedure referred to in article 22 for the purpose of specifying the statistical data elements referred to in points to , and for specifying the list of statistical data elements applicable for the specific goods or movements and the data compiled by using the particulars of customs declarations referred to in points and of article 12 . ### the commission shall be empowered to adopt delegated acts in accordance with article 21 for the purpose of supplementing the statistical data elements referred to in points to , and for supplementing the list of statistical data elements applicable for the specific goods or movements and the data compiled by using the particulars of customs declarations referred to in points and of article 12 .


### a key based on the size of the population and of the economy of the member states should be applied as a point of reference in the operation of the corrective allocation mechanism in conjunction with a threshold , so as to enable the mechanism to function as a means of assisting member states under disproportionate pressure . the application of the corrective allocation for the benefit of a member state should be triggered automatically where the number of applications for international protection for which a member state is responsible exceeds 150% of the figure identified in the reference key . in order to comprehensively reflect the efforts of each member state , the number of persons effectively resettled to that member state should be added to the number of applications for international protection for the purposes of this calculation . ### a key based on the size of the population , the economy and unemployment of the member states should be applied as a point of reference in the operation of the corrective allocation mechanism in conjunction with a threshold , so as to enable the mechanism to function as a means of assisting member states under disproportionate pressure . the application of the corrective allocation for the benefit of a member state should be triggered automatically where the number of applications for international protection for which a member state is responsible exceeds 75% of the figure identified in the reference key . in order to comprehensively reflect the efforts of each member state , the number of persons effectively resettled to that member state should be added to the number of applications for international protection for the purposes of this calculation . as soon as this mechanism is triggered , take back requests should be suspended .


### a key based on the size of the population and of the economy of the member states should be applied as a point of reference in the operation of the corrective allocation mechanism in conjunction with a threshold , so as to enable the mechanism to function as a means of assisting member states under disproportionate pressure . the application of the corrective allocation for the benefit of a member state should be triggered automatically where the number of applications for international protection for which a member state is responsible exceeds 150% of the figure identified in the reference key . in order to comprehensively reflect the efforts of each member state , the number of persons effectively resettled to that member state should be added to the number of applications for international protection for the purposes of this calculation . ### a key based on the size of the population , the economy and the unemployment of the member states should be applied as a point of reference in the operation of the corrective allocation mechanism in conjunction with a threshold , so as to enable the mechanism to function as a means of assisting member states under disproportionate pressure . the application of the corrective allocation for the benefit of a member state should be triggered automatically where the number of applications for international protection for which a member state is responsible exceeds 75% of the figure identified in the reference key . in order to comprehensively reflect the efforts of each member state , the number of persons effectively resettled to that member state should be added to the number of applications for international protection for the purposes of this calculation . as soon as this mechanism has been activated , all take back requests should be suspended .


### the eu guarantee underpinning the investeu fund should be implemented indirectly by the commission relying on implementing partners with outreach to final recipients . a guarantee agreement allocating guarantee capacity from the investeu fund should be concluded by the commission with each implementing partner , to support its financing and investment operations meeting the investeu fund objectives and eligibility criteria . the investeu fund should be provided with a specific governance structure to ensure the appropriate use of the eu guarantee . ### the eu guarantee underpinning the investeu fund should be implemented indirectly by the commission relying on implementing partners with outreach to final recipients . a guarantee agreement allocating guarantee capacity from the investeu fund should be concluded by the commission with each implementing partner , to support its financing and investment operations meeting the investeu fund objectives and eligibility criteria . in order to improve transparency , efficiency , accountability and ensure the appropriate use of the eu guarantee , the investeu fund should be provided with a specific governance structure , completely separate from that of the eib group .


### low infrastructure investment rates in the union during the financial crisis undermined the union ' s ability to boost sustainable growth , competitiveness and convergence . sizeable investments in the european infrastructure are fundamental to meet the union ' s sustainability targets , including the 2030 energy and climate targets . accordingly , support from the investeu fund should target investments into transport , energy , including energy efficiency and renewable energy , environmental , climate action , maritime and digital infrastructure . to maximise the impact and the value added of union financing support , it is appropriate to promote a streamlined investment process enabling visibility of the project pipeline and consistency across relevant union programmes . bearing in mind security threats , investment projects receiving union support should take into account principles for the protection of citizens in public spaces . this should be complementary to the efforts made by other union funds such as the european regional development fund providing support for security components of investments in public spaces , transport , energy and other critical infrastructure . ### low infrastructure investment rates in the union during the financial crisis along with recessive economic policies and further cuts to public investments , undermined the union ' s ability to boost sustainable growth , competitiveness and convergence . sizeable investments in the european infrastructure are fundamental to meet the union ' s social standards for employment , inequalities and sustainability targets , including the 2030 energy and climate targets as well as the paris agreement goals . accordingly , support from the investeu fund should target investments into transport , insularity , energy , including energy efficiency and renewable energy , environmental , climate action , maritime and digital infrastructure . to ensure the maximum public control and transparency on those targets , the process should embody maximum transparency and accountability standards . to maximise the impact and the value added of union financing support , it is appropriate to promote a streamlined investment process enabling visibility of the project pipeline and consistency across relevant union programmes . bearing in mind security threats , investment projects receiving union support should take into account principles for the protection of citizens in public spaces . this should be complementary to the efforts made by other union funds such as the european regional development fund providing support for security components of investments in public spaces , transport , energy and other critical infrastructure .


### in the last years , the union has adopted ambitious strategies to complete the single market and to stimulate sustainable growth and jobs , such as the capital markets union , the digital single market strategy , the clean energy for all europeans package , the union action plan for the circular economy , the low - emission mobility strategy , the defence and the space strategy for europe . the investeu fund should exploit and reinforce synergies between those mutually reinforcing strategies through providing support to investment and access to financing . ### in the last years , the union has adopted strategies to complete the single market and to stimulate sustainable growth and jobs . the investeu fund should exploit and reinforce synergies between those strategies through providing support to investment and access to financing .


### the competitiveness of the union , including innovation and digitisation ; ### economic and territorial cohesion within and between member states , including r &amp ; d , development of the primary and secondary sectors , and the robustness of local , regional , national , and international transport infrastructure ;


### to increase the access to and the availability of finance for smes and , in duly justified cases , for small mid - cap companies ; ### to increase the access to and the availability of finance for smes ;


### the investeu fund should contribute to improving the competitiveness of the union , including in the field of innovation and digitisation , the sustainability of the union ' s economic growth , the social resilience and inclusiveness and the integration of the union capital markets , including solutions addressing their fragmentation and diversifying sources of financing for the union enterprises . to that end , it should support projects that are technically and economically viable by providing a framework for the use of debt , risk sharing and equity instruments underpinned by a guarantee from the union ' s budget and by contributions from implementing partners . it should be demand - driven while support under the investeu fund should at the same time focus on contributing to meeting policy objectives of the union . ### the investeu fund should contribute to improving investment cooperation in the union , including in the field of innovation and digitisation , scientific excellence , the energy sustainability of the union ' s production model the social resilience and inclusiveness and the real convergence of all union territories . to that end , it should support projects that are technically and economically viable by means of direct public investment mechanisms with democratically decided programmes , together with private partnerships that do not condition programme priorities . it should be geared towards changing the energy and production model , achieving real convergence , creating decent jobs and preventing economic crises .


### low infrastructure investment rates in the union during the financial crisis undermined the union ' s ability to boost sustainable growth , competitiveness and convergence . sizeable investments in the european infrastructure are fundamental to meet the union ' s sustainability targets , including the 2030 energy and climate targets . accordingly , support from the investeu fund should target investments into transport , energy , including energy efficiency and renewable energy , environmental , climate action , maritime and digital infrastructure . to maximise the impact and the value added of union financing support , it is appropriate to promote a streamlined investment process enabling visibility of the project pipeline and consistency across relevant union programmes . bearing in mind security threats , investment projects receiving union support should take into account principles for the protection of citizens in public spaces . this should be complementary to the efforts made by other union funds such as the european regional development fund providing support for security components of investments in public spaces , transport , energy and other critical infrastructure . ### low infrastructure investment rates in the union during the financial crisis undermined the union ' s ability to boost sustainable growth , competitiveness and convergence . sizeable investments in the european infrastructure are fundamental to meet the union ' s sustainability targets , including the 2030 energy and climate targets . accordingly , support from the investeu fund should target investments into transport , energy , including energy efficiency and renewable energy , environmental , climate action , maritime and digital infrastructure . to maximise the impact and the value added of union financing support , it is appropriate to promote a streamlined investment process enabling visibility of the project pipeline and consistency across relevant union programmes .


### achieves geographical diversification ; ### achieves geographical diversification by member state and by region ;


### the investeu fund should contribute to improving the competitiveness of the union , including in the field of innovation and digitisation , the sustainability of the union ' s economic growth , the social resilience and inclusiveness and the integration of the union capital markets , including solutions addressing their fragmentation and diversifying sources of financing for the union enterprises . to that end , it should support projects that are technically and economically viable by providing a framework for the use of debt , risk sharing and equity instruments underpinned by a guarantee from the union ' s budget and by contributions from implementing partners . it should be demand - driven while support under the investeu fund should at the same time focus on contributing to meeting policy objectives of the union . ### the investeu fund should be geared to social , economic and territorial cohesion and be capable of helping to increase aggregate demand and carry out investment in public infrastructure , which may subsequently leverage and boost private investment . only a plan of this nature can be effective in reviving growth , fighting unemployment and combating inequalities . to that end , it should favour projects that are technically and economically viable by providing a framework for the use of debt , risk sharing and equity instruments underpinned by a guarantee from the union ' s budget and by contributions from implementing partners and to encourage social and regional cohesion through the creation of quality jobs and the broadening and improvement of the productive base of member states , especially those facing severe economic imbalances , suffering from austerity measures and undergoing violent structural adjustments ;


### the investeu fund should support investments in tangible and intangible assets to foster growth , investment and employment , and thereby contributing to improved well - being and fairer income distribution in the union . intervention through the investeu fund should complement union support delivered through grants . ### the investeu fund should support investments in tangible and intangible assets to foster sustainable growth , investment and employment with rights helping to improve living conditions for peoples and workers and fairer income distribution between the member states . intervention through the investeu fund should complement european union support delivered through grants .


### in selecting implementing partners for the deployment of the investeu fund , the commission should consider the counterpart ' s capacity to fulfil the objectives of the investeu fund and contribute its own resources , in order to ensure adequate geographical coverage and diversification , to crowd - in private investors and to provide sufficient risk diversification as well as new solutions to address market failures and sub - optimal investment situations . given its role under the treaties , its capacity to operate in all member states and the existing experience under the current financial instruments and the efsi , the european investment bank group should remain a privileged implementing partner under the investeu fund ' s eu compartment . in addition to the eib group , national promotional banks or institutions should be able to offer a complementary financial product range given that their experience and capabilities at regional level could be beneficial for the maximisation of the impact of public funds on the territory of the union . moreover , it should be possible to have other international financial institutions as implementing partners , in particular when they present a comparative advantage in terms of specific expertise and experience in certain member states . it should also be possible for other entities fulfilling the criteria laid down in the financial regulation to act as implementing partners . ### in selecting implementing partners for the deployment of the investeu fund , the relevant considerations should include the counterpart ' s capacity to fulfil the objectives of the investeu fund and to contribute its resources to the fund , in order to ensure adequate geographical coverage and diversification , to crowd - in private investors and to provide sufficient risk diversification as well as new solutions to address union - wide and / or member state specific market failures and sub - optimal investment situations . given its role under the treaties , its capacity to operate in all member states and the existing experience under the current financial instruments and the efsi , the european investment bank group should indirectly manage the eu guarantee for the eu compartment and the member state compartment . the implementing partners are as follows : the eib group under the eib window of the eu compartment the national promotional banks or institutions with whom a guarantee agreement is signed under the npbi window of the eu compartment . in line with its role in the treaties , the eib provides all strategic banking competences for the commission and other implementing partners . in addition to the eib group , national and regional promotional banks or institutions , where they are implementing partners , should be able to offer a complementary financial product range given that their experience and capabilities at regional level could be beneficial for the maximisation of the impact of public funds on the territory of the union .


### the competitiveness of the union , including innovation and digitisation ; ### social and regional cohesion , including innovation and digitisation ;


### with 1 . 8% of eu gdp , down from 2 . 2% in 2009 , infrastructure investment activities in the union in 2016 were about 20% below investment rates before the global financial crisis . thus , while a recovery in investment - to - gdp ratios in the union can be observed , it remains below what might be expected in a strong recovery period and is insufficient to compensate years of underinvestment . more importantly , the current investment levels and forecasts do not cover the union ' s structural investment needs in the face of technological change and global competitiveness , including for innovation , skills , infrastructure , small and medium - sized enterprises and the need to address key societal challenges such as sustainability or population ageing . consequently , continued support is necessary to address market failures and sub - optimal investment situations to reduce the investment gap in targeted sectors to achieve the union ' s policy objectives . ### with 1 . 8% of eu gdp , down from 2 . 2% in 2009 , infrastructure investment activities in the union in 2016 were about 20% below investment rates before the global financial crisis , sometimes with serious consequences . thus , while a recovery in investment - to - gdp ratios in the union can be observed , it remains below what might be expected in a strong recovery period and is insufficient to compensate years of underinvestment . more importantly , the current investment levels and forecasts do not cover the union ' s structural investment needs in the face of technological change and global competitiveness , including for innovation , skills , infrastructure , small and medium - sized enterprises and the need to address key societal challenges such as sustainability , growing inequality&#160 ; or population ageing . consequently , continued support is necessary to address market failures and sub - optimal investment situations to reduce the investment gap in targeted sectors to achieve the union ' s policy objectives .


### by 30 september 2025 , the commission shall carry out an interim evaluation on the investeu programme , in particular on the use of the eu guarantee . ### by 30 september 2025 , the commission shall carry out an interim evaluation on the investeu programme , in particular on the use of the eu guarantee . in particular , the evaluation shall demonstrate how the inclusion of the implementing partners has contributed to the achievements of the investeu programme targets , as well as eu policy goals , especially with regard to geographical and sectoral balance of the supported financing and investment operations .


### the investeu fund should support investments in tangible and intangible assets to foster growth , investment and employment , and thereby contributing to improved well - being and fairer income distribution in the union . intervention through the investeu fund should complement union support delivered through grants . ### the investeu fund should support investments in tangible and intangible assets to foster sustainable growth , investment and employment , and thereby contributing to improved well - being , environment and fairer income distribution in the union . intervention through the investeu fund should complement and not replace union support delivered through grants . investments should comply with the additionality requirement so that market failures or sub - optimal investment situations can be addressed and investments strive to create long - term high quality employment , public infrastructure and sustainable growth .


### the investeu fund should contribute to improving the competitiveness of the union , including in the field of innovation and digitisation , the sustainability of the union ' s economic growth , the social resilience and inclusiveness and the integration of the union capital markets , including solutions addressing their fragmentation and diversifying sources of financing for the union enterprises . to that end , it should support projects that are technically and economically viable by providing a framework for the use of debt , risk sharing and equity instruments underpinned by a guarantee from the union ' s budget and by contributions from implementing partners . it should be demand - driven while support under the investeu fund should at the same time focus on contributing to meeting policy objectives of the union . ### the investeu fund should contribute to not only reducing disparities in economic development , but also achieving the objectives of social and territorial cohesion . to that end , it should supports projects that contribute to industrial development , r & d , the primary sector and social progress , that promote the provision of quality public services in the education , health , culture , basic sanitation and waste management , transport , communications and energy sectors , that create non - precarious jobs with rights , finally , that are in line with the principle of additionality in the region where they are implemented .


### twice a year , the conclusions of the investment committee rejecting the use of the eu guarantee shall be transmitted to the european parliament and to the council , subject to strict confidentiality requirements . ### twice a year , the investment committee shall submit to the european parliament and to the council a list of all the conclusions as well as the scoreboards relating to all those decisions . that submission shall be subject to strict confidentiality requirements .


### social investment and skills policy window : comprises microfinance , social enterprise finance and social economy ; skills , education , training and related services ; social infrastructure ; social innovation ; health and long - term care ; inclusion and accessibility ; cultural activities with a social goal ; integration of vulnerable people , including third country nationals . ### social investment and skills policy window : comprises microfinance , social enterprise finance and social economy and gender equality and active participation of women and vulnerable groups ; skills , education , training and related services ; social infrastructure ; social innovation ; health and long - term care ; inclusion and accessibility ; cultural activities with a social goal ; integration of vulnerable people , including third country nationals .


### target socio - economic sectors , in particular infrastructure including sustainable energy , water , transport , information and communications technologies , environment , sustainable use of natural resources and blue growth , social infrastructure , human capital , in order to improve the socio - economic environment ; ### strengthen socio - economic sectors , in particular infrastructure including clean and renewable energy , water , low - carbon mobility , green technology , information and communications technologies , environment , sustainable use of natural resources and blue growth , sustainable consumption and production , human capital , with the objective of promoting an inclusive and sustainable socio - economic development that benefits all and leaves no one behind


### the efsd shall contribute to the achievement of the sustainable development goals of the 2030 agenda with a particular focus on sustainable growth , job creation , socio - economic sectors and on the support to micro , small and medium sized enterprises , thus addressing root causes of migration and contributing to sustainable reintegration of returned migrants in their countries of origin while maximising additionality , delivering innovative products and crowding in private sector funds . ### the efsd shall contribute to the achievement of the principles underpinning the 2030 agenda on sustainable development , such as that of leave no one behind , as well as all the goals and targets therein , with an especially focus on combating poverty and inequalities , and shall be guided by the objectives set out in articles 21 teu and 208 tfeu and the internationally agreed development effectiveness principles - especially ownership , alignment , harmonisation , democratic accountability and results - , thus contributing to the union ' s development objectives , with a particular focus on poverty eradication , inequality reductions , long - term sustainable and inclusive growth , decent job creation , technology transfer and the sharing of knowledge , socio - economic sectors and on the support to micro , small and medium sized enterprises . in so doing , the efsd shall , inter alia , contribute to addressing specific socio - economic root causes of forced migration and foster sustainable reintegration of migrants when voluntarily willing to return to their countries of origin or transit , as well as strengthen resilience of host communities .


### the union shall provide an irrevocable and unconditional guarantee on first demand to the eligible counterpart for the financing and investment operations covered by this regulation starting in the african and neighbourhood partner countries . ### the union shall provide an irrevocable guarantee on first demand to the eligible counterpart for the financing and investment operations covered by this regulation starting in the african and neighbourhood partner countries .


### the eip should provide an integrated financial package to finance investments starting in regions of africa for countries that are signatories to the partnership agreement between the members of the african , caribbean and pacific group of states of the one part , and the european community and its member states , of the other part , signed in cotonou on 23 june 200022 and the neighbourhood countries , thereby creating growth and employment opportunities , maximising additionality , delivering innovative products , and crowding - in private sector funds . __________________ 22 oj l 317 , 15 . 12 . 2000 as last amended by oj l 287 , 4 . 11 . 2010 ### the efsd should foster decent job creation , sustainable and equitable economic opportunities for all , with particular focus on youth and on furthering gender equality and the empowerment of women in line with the eu gender action plan 2016 - 2020 , while strengthening the rule of law , good governance , and human rights and respect for equitable access to and use of natural resources in any country . __________________ 22 oj l 317 , 15 . 12 . 2000 as last amended by oj l 287 , 4 . 11 . 2010


### target socio - economic sectors , in particular infrastructure including sustainable energy , water , transport , information and communications technologies , environment , sustainable use of natural resources and blue growth , social infrastructure , human capital , in order to improve the socio - economic environment ; ### strengthen socio - economic sectors , in particular infrastructure including sustainable energy , water , transport , information and communications technologies , environment , sustainable use of natural resources and blue growth , social infrastructure , human capital , in order to improve the socio - economic environment ;


### provide financial instruments aimed at addressing the bottlenecks to private investments , including first loss guarantees to portfolios guarantees to private sector projects such as loan guarantees for small and medium - sized enterprises and guarantees for specific risks for infrastructure projects and other risk capital ; ### provide sustainable financial instruments aimed at addressing the bottlenecks to local investments , including first loss guarantees to portfolios guarantees to local projects such as loan guarantees for small and medium - sized enterprises ;


### the commission should report annually to the european parliament and the council on the financing and investment operations covered by the efsd guarantee with a view to ensuring accountability to the european citizens . the report should be made public in order to allow relevant stakeholders , including civil society , to express their views . the commission should also report annually to the european parliament and the council on the management of the efsd guarantee fund so that accountability and transparency are ensured . ### the commission should report annually to the european parliament and the council on the financing and investment operations covered by the efsd guarantee with a view to ensuring accountability to the european citizens . the report should be made public in order to allow relevant stakeholders , including civil society , to express their views . the commission should also report annually to the european parliament and the council on the management of the efsd guarantee fund so that accountability , transparency and the full budgetary scrutiny and control mechanism of the european parliament are ensured .


### maximise the mobilisation of private sector capital . ### maximise local investment capacity , ensuring that private investment aligns with democratically agreed socially useful public projects , while being also responsible of the investment in order to avoid the privatization of profits and the socialization of loses which could derivate from the investments .


### the efsd shall contribute to the achievement of the sustainable development goals of the 2030 agenda with a particular focus on sustainable growth , job creation , socio - economic sectors and on the support to micro , small and medium sized enterprises , thus addressing root causes of migration and contributing to sustainable reintegration of returned migrants in their countries of origin while maximising additionality , delivering innovative products and crowding in private sector funds . ### the efsd shall contribute to the achievement of the sustainable development goals of the 2030 agenda and be guided by the objectives set out in article 21 of the treaty on european union and article 208 tfeu and the internationally agreed development effectiveness principles , thus contributing to the union ' s development and neighbourhood policies and the new partnership framework with third countries under the european agenda on migration , with a particular focus on poverty eradication , long - term sustainable and inclusive growth , job creation , socio - economic sectors and on the support to micro , small and medium sized enterprises . in so doing , the efsd shall , inter alia , contribute to addressing the specific socio - economic root causes of migration and foster sustainable reintegration of migrants returning to their countries of origin or transit , as well as strengthen resilience of host communities .