In 2003, the European Council endorsed the Growth Initiative which seeks to mobilise investment in transport, energy and telecommunications infrastructure networks. The aim of this initiative is to stimulate growth and create jobs.

Within this framework, DG ECFIN is working on the design and development of the following two instruments to be managed by the EIB, which will be based on risk-sharing arrangements between the Commission and the EIB:

• Loan Guarantee instrument for Trans-European Transport Network (TEN-T) projects (LGTT)
  
  The Loan Guarantee instrument for TEN-T projects will facilitate greater private-sector involvement in the financing of TEN-Transport infrastructure.
• Risk-Sharing Finance Facility (RSFF)
  
  The RSFF will support higher-risk research, technological development and demonstration projects through loans and guarantees.

The Growth Initiative is an important step in the implementation of the Lisbon Agenda.