The News
Capital Coahuila
Capital Querétaro
Capital Edo. de Méx.
Capital México
Capital Mujer
Reporte Índigo
Estadio Deportes
The News
Efekto
Green TV
Revista Cambio
Digital
Prensa
Radio
TV

EU to Extend Investment Plan until 2022 to Boost Growth

The initial aim of the Investment Plan for Europe, which was first announced last year, was to mobilize 315 billion euros over three years
By The News · 14 of September 2016 07:46:44
EU Commission President Jean-Claude Juncker delivers his State of the Union address at the European Parliament in Strasbourg, eastern France, EU Commission President Jean-Claude Juncker delivers his State of the Union address at the European Parliament in Strasbourg, eastern France, Wednesday, Sept. 14, 2016. Juncker, the head of the European Union's executive said that the EU "still does not have enough Union" and that the bloc still needs more united action to move forward in the face of widespread opposition to more centralized powers for the bloc. (AP Photo/Jean Francois Badias), photo: AP/Jean Francois Badias

The European Union is extending its investment plan for a further three years in order to boost growth and employment.

EU Commission President Jean-Claude Juncker said Wednesday that he’s aiming to generate 630 billion euros ($707 billion) worth of public and private investment by 2022.

The initial aim of the Investment Plan for Europe, which was first announced last year, was to mobilize 315 billion euros over three years.

The fund aims to reduce risks for private investors and encourage them to spend on strategic projects like broadband or energy.

Juncker told European lawmakers that the Commission wants to meet a first target of half a trillion euros by 2020.

He said the investment drive has already raised 116 billion euros and provided loans for 200,000 small firms and startups.