European Commission proposes InvestEU guarantee boost, draft document shows
LONDON, Feb 20 (Reuters) - The European Commission is proposing to increase the guarantee provided through InvestEU, the bloc's flagship programme to support sustainable investment, innovation and job creation, by 2.5 billion euros ($2.61 billion), a draft document seen by Reuters showed.
By doing so, it hopes to mobilise an extra 25 billion euros in public and private investment.
The document also laid out the Commission's plan to reduce the sustainable finance reporting burden on companies, amid concerns about the bloc's competitiveness.
Among the proposed changes, the Commission suggested changing the definition of small and medium sized companies, reducing the amount of data they will need to report and changing the frequency of reporting.
The proposed measures would expect to save 200 million euros for those involved in the process.
($1 = 0.9584 euros)
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