Launched in 2015 as part of the Investment Plan for Europe, the European Investment Advisory
Hub offers technical support to EU project promoters. According to a new report by the European
Court of Auditors, beneficiaries are satisfied with the Hub’s advisory services. However, it has not
yet achieved its full potential to boost investment in the EU, mainly due to an insufficiently clear
strategy for targeting support where it could add most value.
The European Investment Advisory Hub operates as a partnership between the Commission and the
European Investment Bank and works in cooperation with national promotional banks or
institutions (NPBIs) and the European Bank for Reconstruction and Development (EBRD).
Between 2015 and 2018, the Hub received 1091 requests for support – less than one request per
day on average. These came directly from project promoters via the Hub’s website or from other
institutional sources (other EIB departments, the EBRD, NPBIs and the Commission). Only 285 (26%)
of these requests led to allocations (‘assignments’) of Hub resources or advice to public and private
sector beneficiaries. As a result, during its first three and a half years in operation, the Hub only used
just over a quarter of its available funding from the EU budget. The auditors therefore concluded
that, although beneficiaries expressed satisfaction with the services provided, there had not been
enough assignments to have a significant impact in boosting investment in EU projects.
Furthermore, they found the Hub did not have a sufficiently clear strategy – nor effective criteria,
priorities and procedures – for targeting support.
“The European Investment Advisory Hub was one of the main measures taken following the
economic crisis to boost investment in the EU, but it faced some strategy and implementation issues”,
said Annemie Turtelboom, the Member of the European Court of Auditors responsible for the
audit. “The new InvestEU advisory hub proposed for the 2021-2027 programme period should focus
resources on clearly targeted and defined needs, improve outreach of its activities and ensure