EU offers €600 million for infrastructure renewal and economic revitalization

The Investment Plan for Europe has provided just under EUR 600 million boost to investment with four agreements across three countries.

Four agreements benefiting from the support of the European Fund for Strategic Investments (EFSI), the heart of the Investment Plan for Europe, are being signed today.

The agreements include EUR 250 million to support upgrading public infrastructure in Lisbon and EUR 230 million in loans for small and medium-sized enterprises (SMEs) in Greece.

To recap, as of mid-October, the operations approved under the EFSI now represent a total financing volume of EUR 24.8 billion which is expected to trigger a total investment of around EUR 138 billion.

Vice-President Jyrki Katainen, responsible for Jobs, Growth, Investment and Competitiveness, said: “Today’s agreements provide further evidence that the Investment Plan is working to deliver on our number one priority: stimulating investment for the purpose of job creation. We are beginning to see a substantial increase in the number of agreements being signed. This shows strong support for our recent proposal to extend the EFSI. It is particularly pleasing that these agreements demonstrate that the Plan is working right across Europe.

The Investment Plan focuses on removing obstacles to investment, providing visibility and technical assistance to investment projects and making smarter use of new and existing financial resources. To achieve these goals, the plan is active in three areas:

  • mobilising investments of at least €315 billion in three years;
  • supporting investment in the real economy;
  • creating an investment friendly environment.

Photo of Prague via Adobe Stock.

See Investment Plan for Europe website.

See details on funding announcements.

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