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DRAFT BUDGETARY ASSESSMENT (COM(2025)0555 – C100165/2025 – 2025/0555(COD))

On the proposal for a regulation of the European Parliament and of the Council on establishing the European Competitiveness Fund ('ECF’), including the specific programme for defence research and innovation activities, repealing Regulations (EU) 2021/522, (EU) 2021/694, (EU) 2021/697, (EU) 2021/783, and amending Regulations (EU) 2021/696, (EU) 2023/588, (EU) [EDIP]

BUDG-PA-787644

Committee on Budgets · Rapporteur: Stine Bosse

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The Committee on Budgets sets out its budgetary assessment of the proposed European Competitiveness Fund (ECF), which consolidates several existing programmes and includes a defence research and innovation programme. It asks for the ECF envelope to be raised above EUR 234.3 billion and for a more detailed budget breakdown and nomenclature so Parliament can steer spending. It wants the EU guarantee raised to EUR 120 billion and the minimum InvestEU support raised to at least EUR 40 billion, with a policy steer and multiannual programming. It asks that at least 70 % of the EU guarantee go to the EIB Group and that revenue, surplus provisioning and defence research decommitments stay within the ECF.

Committee position. The Committee on Budgets proposes a substantial increase in the ECF envelope and the EU guarantee, a higher minimum InvestEU support with a policy steer, multiannual programming through delegated acts, and keeping revenue and decommitments within the ECF.

Key points

  1. The ECF would substantially increase investment in strategic autonomy, resilience, key economic sectors and the twin transition compared to the current MFF, but this is still insufficient.
  2. The proposal consolidates existing programmes, which could reduce transparency and accountability and limit Parliament's ability to secure funding for specific policy objectives.
  3. The Union should boost spending on strategic priorities and use more risk-sharing instruments with a high risk appetite to mobilise private investment.
  4. The ECF envelope should be increased from EUR 234.3 billion (EUR 207.4 billion in 2025 prices) to a figure from the MFF interim report.
  5. The limited budget breakdown and the lack of a detailed indicative budgetary nomenclature would give the Commission latitude to shift spending priorities and hamper oversight.
  6. Sufficiently detailed legislation and governance are needed for sound budgetary decisions; the ECF Strategic Stakeholder Board should be balanced and a steering mechanism cannot replace Parliament's powers.
  7. The budgetary guarantee is an efficient way to leverage a limited Union budget, and the implications of borrowing and lending must be identified, presented transparently and monitored.
  8. The maximum EU guarantee should rise to EUR 120 billion, and the 50 % provisioning rate is welcomed as supporting greater risk taking than InvestEU and EFSI.
  9. The minimum Union support through InvestEU of EUR 17 billion, with a guarantee of only EUR 14 billion, should be raised to at least EUR 40 billion, and the initial amount for advisory services increased.
  10. A policy steer for InvestEU should be established, including minimum amounts for each policy window, and InvestEU should be given priority in implementation with grants used only where necessary.
  11. Allocation and award criteria should follow the principle of excellence, with measurable competitiveness results, and part of the minimum amount should top up existing guarantee agreements to avoid an implementation lag.
  12. The ECF InvestEU Instrument should be implemented through investment guidelines adopted by delegated act rather than annual work programmes, and at least 70 % of the EU guarantee under the EU compartment should go to the EIB Group.

Who is affected

  • The Commission, which would gain latitude to shift spending priorities and decide on InvestEU use without a policy steer.
  • The European Parliament, whose oversight and budgetary powers could be limited by the consolidation and lack of detailed nomenclature.
  • The EIB Group, which would receive a minimum of 70 % of the EU guarantee under the EU compartment.
  • Markets and business communities, which face a lack of predictability without a policy steer for InvestEU.
  • Existing implementing partners, whose guarantee agreements could be topped up to ensure availability from the outset.

Figures and deadlines

  • EUR 234.3 billion (EUR 207.4 billion in 2025 prices): the current ECF envelope that should be increased.
  • EUR 120 billion: the proposed increased maximum amount of the EU guarantee.
  • 50 %: the provisioning rate welcomed as supporting greater risk taking than InvestEU and EFSI.
  • EUR 17 bn: the minimum amount of Union support through the InvestEU Instrument.
  • EUR 14 billion: the guarantee for the minimum InvestEU support.
  • EUR 29 bn: the InvestEU guarantee, much higher than the minimum guarantee.
  • EUR 40 bn: the recommended increased minimum amount of support.
  • 70 %: the minimum share of the EU guarantee under the EU compartment to be allocated to the EIB Group.