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