Juncker Plan set to trigger €236.1 billion across the EU
The Investment Plan for Europe – the so-called Juncker Plan – is now expected to trigger €236.1 billion in investments. Following this month’s meeting of the European Investment Bank‘s (EIB) Board of Directors, operations approved under the European Fund for Strategic Investments (EFSI) now represent a total financing volume of €46.5 billion and are located in all 28 Member States. The EIB has approved 312 EFSI-backed operations, supported by €36.1 billion in EFSI financing. The European Investment Fund (EIF) has also approved 306 SME financing agreements, with total financing under the EFSI of €10.4 billion. Around 454,000 small and medium-sized businesses are expected to benefit from improved access to finance as a result of these EIF agreements. The European Commission and the EIB Group estimate that the EFSI has so far supported 300,000 jobs across the EU. By 2020 that figure should be 700,000. On 13 September, the European Parliament and Member States came to an agreement in principle on EFSI 2.0 – the extension and reinforcement of the European Fund for Strategic Investments.