8 Projects of 6 EU Countries among First Batch to Get Funding under ‘Juncker Plan’

Politics » BULGARIA IN EU | July 22, 2015, Wednesday // 21:30
Bulgaria: 8 Projects of 6 EU Countries among First Batch to Get Funding under ‘Juncker Plan’ European Investment Bank (EIB) President Werner Hoyer (C-L), European Commission President Jean-Claude Juncker (C) and European Commission Vice-President Jyrki Katainen (C-R) signing an agreement on the European Fund for Strategic Investments (EFSI) at th

Eight projects of six EU Member States will be the first to receive funding under the so-called Juncker Plan.

European Investment Bank President Werner Hoyer, European Commission President Jean-Claude Juncker and Vice President Jyrki Katainen signed Wednesday a series of technical agreements between the EIB and European Commission which complete the formal establishment of the European Fund for Strategic Investments (EFSI) and the European Investment Advisory Hub.

EFSI is a joint initiative of the Commission and the EIB and an integral part of the Commission’s Investment Plan for Europe.

Set up within the EIB, EFSI will manage a guarantee from the EU budget of EUR 16 B and an EIB contribution of EUR 5 B to leverage private and public investment of EUR 315 B over the next 3 years.

Under Wednesday’s deal, the European Fund for Strategic Investments (EFSI) is to be operational by September 2015.
Bulgaria is not among the first batch of countries to receive funding under the plan.

The first six countries to get funding under the scheme are Spain (3 projects), France, Denmark, Finland, Italy, and Ireland, according to reports of investor.bg.

The target areas of the approved projects include infrastructure, energy efficiency, energy, public-private partnership, and research and development.

Nine countries, including Bulgaria, have so far made clear that they will back the Juncker Plan with co-financing from their banks in order to promote investments.

The Bulgarian Development Bank will provide EUR 100 M.

The eight other countries are Germany, UK, France Italy, Poland, Spain, Slovakia, and Luxembourg.

We need your support so Novinite.com can keep delivering news and information about Bulgaria! Thank you!

Bulgaria in EU » Be a reporter: Write and send your article
Tags: European Fund for Strategic Investments, EFSI, Juncker Plan, Jean-Claude Juncker, Jyrki Katainen, European Investment Bank, EIB, Bulgarian Development Bank, co-financing
Advertisement
Advertisement
Expats.bg All Are Welcome! Join Now!
Bulgaria news Novinite.com (Sofia News Agency - www.sofianewsagency.com) is unique with being a real time news provider in English that informs its readers about the latest Bulgarian news. The editorial staff also publishes a daily online newspaper "Sofia Morning News." Novinite.com (Sofia News Agency - www.sofianewsagency.com) and Sofia Morning News publish the latest economic, political and cultural news that take place in Bulgaria. Foreign media analysis on Bulgaria and World News in Brief are also part of the web site and the online newspaper. News Bulgaria