Thursday

18th Aug 2022

Commission wants to extend its investment plan

  • The European Investment Bank. The €21-billion EU guarantee helped raise more investment than expected. (Photo: Forgemind ArchiMedia)

The European Commission said on Wednesday (1 June) it would like to extend its investment plan after its scheduled end in 2018.

It said it would present a proposal in the autumn but did not specify for how long it would seek an extension from the EU member states and parliament.

Read and decide

Join EUobserver today

Become an expert on Europe

Get instant access to all articles — and 20 years of archives. 14-day free trial.

... or subscribe as a group

The announcement came as the EU executive provided figures to demonstrate that its flagship "Juncker plan" launched 18 months ago by the president of the commission is working.

"The investment plan is functioning well, the EFSI is doing well," commission vice-president Jyrki Katainen said, referring to the European Fund for Strategic Investments, the structure that was set up to oversee funding of projects.

So far, Katainen said, the €21-billion guarantee provided by the EU budget and the European Investment Bank (EIB) helped raise more investment than expected.

He said that 64 industrial, investment and infrastructure projects have been approved and more than 140,00 small and medium enterprises (SMEs) benefited from funding.


Overall, more than €100 billion have been raised. This is almost a third of the total €315 billion the commission expects to raise in three years.

Katainen also said that the commission was thinking of setting up EFSI-like scheme in developping countries, in order to "stabilse the situation in vulnerable countries".

Juncker fund: €50bn mobilised so far

The flagship EU investment fund has mobilised so far €50 billion in investment, says the president of the European Investment Bank.

Investigation

The discreet banker of Africa development

The European Investment Bank has grown, largely unnoticed, into the world's largest lender and borrower, but who is really in charge is anyone's guess.

Conditions met for German nuclear extension, officials say

Conditions have been met for the German government to allow a temporary lifetime extension of three remaining nuclear reactors, according to the Wall Street Journal, as the country is facing a likely shortage of gas this winter.

News in Brief

  1. UN chief meets Zelensky and Erdogan over grain exports
  2. Fighting stalls ahead of UN visit, Ukraine says
  3. German chancellor to face MPs over tax-fraud probe
  4. Norway wealth fund makes record €171bn loss
  5. German utility firm Uniper on 'brink of insolvency'
  6. ECB mulls big interest rate hike amid recession risk
  7. Germany unlikely to hit November gas-storage target
  8. Mali accuses France of arming Islamist fighters

Stakeholders' Highlights

  1. Nordic Council of MinistersNordic prime ministers: “We will deepen co-operation on defence”
  2. EFBWW – EFBH – FETBBConstruction workers can check wages and working conditions in 36 countries
  3. Nordic Council of MinistersNordic and Canadian ministers join forces to combat harmful content online
  4. European Centre for Press and Media FreedomEuropean Anti-SLAPP Conference 2022
  5. Nordic Council of MinistersNordic ministers write to EU about new food labelling
  6. Nordic Council of MinistersEmerging journalists from the Nordics and Canada report the facts of the climate crisis

Latest News

  1. Serbia expects difficult talks with Kosovo at EU meeting
  2. How scary is threat to Ukraine's Zaporizhzhia nuclear plant?
  3. Slovakia's government stares into the abyss
  4. Finland restricts Russian tourist visas
  5. Conditions met for German nuclear extension, officials say
  6. A year of Taliban — only aid is keeping Afghan kids alive
  7. Is this strange summer a moment of change?
  8. Germany rejects visa ban for Russian tourists

Join EUobserver

Support quality EU news

Join us