(18 January 2016) – In its first year, the Juncker Plan was mainly utilised by the EU’s big economies, notably Spain, Italy and France.
Launched in 2015, the European Commisison’s investment plan, which aimed to mobilise €315 billion, has led to operations in 22 of the 28 member states. But some countries, notably Spain, Italy and France, have fared better than others.
The EU provided €8 billion to the European Fund for Strategic Investments (EFSI), to act as a foundation from which the €315 billion would be raised. This initial capitalisation was provided in the form of guarantees from the EU budget to facilitate the payment of a further €8 billion from the European Institutions.A further €5 billion were added by the EIB.
This €21 billion is now used to back investments in higher-risk projects than those usually supported by the EIB. The fund’s managers bet on a fifteen-fold “multiplier effect” to reach their €315 billion objective. (EurActiv)