The guarantee available under the InvestEU Fund is implemented via selected financial partners, or ‘implementing partners’. The main partner is the EIB Group, which signed a guarantee agreement with the Commission in March 2022 covering 75% of the EU guarantee.
For the first time, the EU guarantee is open also to national promotional banks and institutions as well as international financial institutions. Until now several of these institutions have signed a guarantee agreement under InvestEU.
How to become an Implementing Partner
Assessing capacity to manage the EU budget
Interested parties must undergo a screening process (‘pillar assessment’) to assess their eligibility for managing EU funds. The assessment takes place in 3 main steps:
- Application: potential implementing partners need to submit an application form for the ‘pillar assessment’ to the European Commission to ec-investeu-pillarassessment
ec [dot] europa [dot] eu (this email address). - Eligibility: the Commission checks the eligibility of applicants.
- Pillar assessment: eligible applicants must complete a screening process, a ‘pillar assessment’, to ensure EU funds are properly managed. The assessment is an independent external audit, guided by its Terms of Reference, and carried out to ensure compliance with the rules and procedures for managing EU funds. The Commission concludes its assessment based on the findings of the auditor’s report.
Selection of implementing partners under InvestEU
To become an InvestEU implementing partner, interested parties need to respond to a Call for Expression of Interest. The Commission then enters into negotiations with them to define the type of financial product(s) they wish to implement and the conditions attached to it. The negotiations are concluded by signing a guarantee agreement granting the status of InvestEU implementing partner.
In 2021, a number of potential implementing partners responded to the 1st Call for Expression of Interest.
The 2nd Call for Expression of Interest for the InvestEU Fund (1st cut-off date) was published on 25 October 2023. The call is addressed to both (i) already selected implementing partners under the EU compartment of the InvestEU Fund and to (ii) new potential implementing partners. The amount of EU guarantee available under this call (1st cut-off date) for the InvestEU Fund was EUR 1.37 billion. The EU guarantee amount of the 2nd Call might be increased at a later stage subject to the availability of further EU guarantee under InvestEU. The Commission published the availability of further EU Guarantee amount through the 2nd Call 2nd cut-off date on 2 August 2024.
Under the 2nd Call for Expression of Interest, the Commission has launched the possible allocation of further EU budget to existing or new implementing partners under the 3rd cut-off date (Publication date: 1 October 2025). The additional budget under this 3rd cut-off date is EUR 1.6 billion.
For more information on the 2nd Call 3rd cut-off date, please see the documents below.
Please refer only to the updated versions of the documents dated 1 October 2025. The "Declaration on honour on exclusion criteria – Invest EU Fund" dated 4 July 2024 is still valid. All the other documents for the 2nd call, published in 2024 and 2023 are obsolete.
Outdated documents