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Friday, 19 April 2019 11:00

EU Budget 2021-2027 gets green light

EU Budget 2021-2027 gets green light

The European Commission welcomes today's vote in the European Parliament on InvestEU, the programme to boost investment in Europe in the next long-term EU budget. This vote brings InvestEU one step closer to its creation, Caspian Energy News (www.caspianenergy.net) reports with reference to the press statement of the European Commission.

InvestEU will make EU funding for investment projects simpler to access and more effective. Building on the success of the Juncker Plan, it will bring together under one roof and with a single brand the European Fund for Strategic Investments and 13 other EU financial instruments currently supporting investment in the EU.

President Jean-Claude Juncker said: “Over the next decade, the programme will unlock at least €650 billion for Europe to invest in its future, its economy and its people.”

Vice-President Jyrki Katainen, responsible for Jobs, Growth, Investment and Competitiveness, said: “Soon, businesses and entrepreneurs will get easier access to EU funding to turn their ideas into concrete projects. It will help keep the EU at the forefront of innovation and climate action, while creating jobs and ensuring a growth model that is socially, environmentally and economically sustainable.”

InvestEU will keep the Juncker Plan's innovative approach to investment, by using limited amounts of public resources with an EU budget guarantee to leverage substantial private and public funds. The €38 billion guarantee will target investments in four main areas: sustainable infrastructure; research, innovation and digitisation; small and medium businesses and social investment and skills. It should trigger at least €650 billion in additional investment in Europe.

More details: http://europa.eu/rapid/press-release_IP-19-2149_en.htm

Person in charge of the newsline: Olga Nagiyeva 

 

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