Less than one year into its existence, the European Fund for Strategic Investments is supporting 64 projects and triggers more than 100 billion euro of investment across the European Union.
The European Commission’s partner in the Investment Plan, the European Investment Bank, approved yesterday eight more projects for a financing volume of 9.3 billion euro. This takes the total of approved investment projects to 64 and already achieves almost a third of the targeted 315 billion euro investments over three years.
The new projects at the heart of the Juncker Commission’s flagship Investment Plan for Europe are in strategic areas such as research and development, energy efficiency and digital technology and now span 26 Member States.
European Commission Vice-President Jyrki Katainen, responsible for Jobs, Growth, Investment and Competitiveness, said: “Today’s news shows this Commission means business. Together with our partner the EIB, we are delivering on our Investment Plan: less than a year into its existence, the European Fund for Strategic Investment has triggered more than 100 billion euros of total investment in the EU. We are keeping the promise to put Europeans back into jobs and help the European recovery.”
For a full list of projects approved so far under the EFSI, click here.
For the EIB’s press release, click here.
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About the Investment Plan for Europe
The economic crisis brought about a sharp reduction of investment across Europe. That is why collective and coordinated efforts at European level are needed to reverse this downward trend and put Europe on the path of economic recovery. Adequate levels of resources are available and need to be mobilised across the EU in support of investment. There is no single, simple answer, no growth button that can be pushed, and no one-size-fits-all solution. The Commission’s economic approach is based on three pillars: structural reforms to put Europe on a new growth path; fiscal responsibility to restore the soundness of public finances and cement financial stability; and investment to kick-start growth and sustain it over time.
The Investment Plan for Europe is at the heart of this strategy. It focuses on removing obstacles to investment, providing visibility and technical assistance to investment projects and making smarter use of new and existing financial resources.
Compliments of the European Commission