A few months after its launch, the European Fund for Strategic Investments (EFSI), also known as the Juncker plan, is on track and financing projects in the real economy.
Backed from the beginning by the EPP Group and championed by Commission Vice-President Jyrki Katainen, this plan, which is due to activate at least €315 billion in private investment – and especially €75 billion for SMEs – has already seen 13 projects approved for an overall investment volume of €9.4 billion. These projects come from many Member States, including Finland, Spain, Italy, Denmark, Ireland, France, Austria, the UK, Germany and the Netherlands, and cover, amongst others, the fields of energy, health, transport and Research & Development. More projects are being chosen every month.
The European Investment Fund (EIF), which is destined to smaller businesses under EFSI, has already signed more than 60 operations, with total financing exceeding €1.5 billion, which in turn should trigger more than €19 billion of private investment.
The EFSI helps European companies, especially the SMEs that represent 99% of businesses in Europe, to launch projects that would not be possible without this aid. In the coming years, tens of thousands of SMEs could benefit from it throughout Europe.
The Juncker plan is a real opportunity for the European economy to boost innovation and create jobs. Growth cannot be produced overnight, with billions of euros. It is built step by step, brick by brick, and EFSI has laid the initial foundations.
The European Investment Advisory Hub provides aid to companies who are looking for help to construct their financing project. From the beginning of 2016, the European Investment Project Portal will explain the projects in need of financing to potential investors.
The EPP Group’s priority is to trigger new investment, without creating new debt.