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December 2018
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Tuesday, 27 November 2018 13:00

Juncker Plan bringing investment back on track in Europe

Juncker Plan bringing investment back on track in Europe

The Investment Plan has exceeded its initial target and expectations and has now mobilised €360 billion worth of investments, two-thirds of which come from private resources. Thanks to the backing of the European Fund for Strategic Investments (EFSI), 850,000 small and medium businesses are set to benefit from improved access to finance, Caspian Energy News (www.caspianenergy.net) reports with reference to the press statement of the European Commission.

Estimates show that the EFSI has already supported more than 750,000 jobs, while 1.4 million jobs are set to be created by 2020. The Juncker Plan has already increased EU GDP by 0.6%, a figure set to reach 1.3% by 2020. All Member States are benefiting, especially those who were hit the hardest by the crisis.

Efforts have also been made at the national as well as at the European level to remove barriers to investments and make Europe an even more attractive place for businesses to settle and thrive.

The Investment Plan for Europe, or Juncker Plan, was launched in November 2014 to reverse the downward trend of low-levels of investment and put Europe on the path to economic recovery. With its innovative approach to investment, the use of limited amounts of public resources with an EU budget guarantee to the European Investment Bank Group, substantial private and public funds have been and continue to be mobilised for investments across strategic sectors of the EU economy, such as infrastructure and housing, research and development, new technologies and production methods, education and skills and the transition towards a low-carbon economy.

In July 2018, the Juncker Plan exceeded its original investment target of €315 billion. 993 operations have now been approved under the EFSI, which are expected to trigger €360 billion in investment across the 28 EU Member States, with a €500 billion target by 2020.

More details: http://europa.eu/rapid/press-release_IP-18-6484_en.htm

Person in charge of the newsline: Olga Nagiyeva 

 

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