The European Commission has finalised a wish list of nearly two thousands projects to be financed by a new investment plan. The six hundred page
ADVERTISEMENTThe European Commission has finalised a wish list of nearly two thousands projects to be financed by a new investment plan.
The six hundred page document includes possible investments in energy, environment, transport, education and digital infrastructure amongst others.
EU governments submitted their ideas after a call from European Commission president Jean-Claude Juncker.
The list was put together by Europe’s capitals, the European Investment Bank and the European Commission.
The projects identified are worth an estimated one point three trillion euros, officials say.
Juncker wants to use twenty one billion euros of capital to leverage as much as 315 billion euros of investment inside the EU.
Investment has fallen 20 percent in the eurozone since the 2008 global financial crisis.
He argues that this will provide a much-needed boost after years of low growth and weak job numbers.
But critics point out that his plan doesn’t include any new money, and that is merely recycling EU funds.