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  01 February 2024  
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Economic and Financial Affairs

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In this issue

Top story

InvestEU backs €209 million of financing for large-scale production of green steel with minimal carbon footprint in Sweden

InvestEU is supporting European Investment Bank (EIB) and Nordic Investment Bank (NIB) deals to support H2 Green Steel's large-scale green steel production facility in Northern Sweden. The green steel will be produced with up to 95% fewer CO2 emissions compared to the current manufacturing process.

 
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Viewpoint

European Commissioner for Economy Paolo Gentiloni

"This agreement is a great demonstration of InvestEU's support for Europe's transition to climate neutrality. I am proud that, together with the European Investment Bank and the Nordic Investment Bank as key implementing partners, InvestEU is backing this pioneering initiative, contributing to the production of more sustainable steel in Sweden."

News

Commission provides REPowerEU pre-financing to Belgium, Croatia, Cyprus, Finland, Greece, Italy, Latvia, Romania and Spain under the Recovery and Resilience Facility

The Commission has made pre-financing payments under REPowerEU to nine Member States under the Recovery and Resilience Facility: €145.1 million to Belgium, €585.1 million to Croatia, €20.9 million euros to Cyprus, €25.4 million to Finland, €158.7 million to Greece, €551.2 million to Italy, €26.9 million to Latvia, €288 million to Romania, and €340 million to Spain.

 
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InvestEU backs €150 million commitment by European Investment Fund for a decarbonisation infrastructure fund

The European Investment Fund (EIF) has signed a €150 million commitment, supported by InvestEU, with the White Summit Capital Decarbonisation Infrastructure Fund II to support projects that boost the transition to clean energy, address the consequences of climate change and ensure security of energy supply, among others.

 
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Speeches

Closing keynote by Commissioner Gentiloni at the EU Sustainable Investment Summit

Quote Delivering on the green transition is an environmental necessity, an economic opportunity and a geopolitical imperative. It requires, as we have seen, investments on an unprecedented scale.
 
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Commissioner Gentiloni's keynote at the InvestEU high-level event

Quote Thanks to InvestEU, financing for more than 170 investment projects has already been authorised. These will mobilise an estimated €225 billion in investments in key areas for Europe's future.
 
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Commissioner Gentiloni's keynote speech at the launch of the European Ports Alliance

Quote The European dimension is key here. Criminals exploit gaps and weaknesses in our enforcement model. Better cooperation at the level of local ports is essential. But we need to ensure all European ports are equally effective in order to avoid ‘port shopping’.
 
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Real Economy by Euronews

Celebrating 25 years of the euro: a retrospective and future outlook

Real Economy commemorates 25 years of the single currency in Europe by asking students, workers and a former president of the European Central Bank for their perspectives on the past, present and future of the euro and the eurozone.

 
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Events and notices

Save the date: Brussels Economic Forum, 16 May 2024

Save the date for the European Commission’s Brussels Economic Forum on 16 May 2024. Join us in Brussels or online for a day of debates and networking with speakers and participants from across the world. Click on the link below to keep up to date on programme.
 
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Open public consultation on SURE

SURE was established in May 2020 to help Member States fight the negative economic and social consequences of the COVID-19 pandemic. The European Commission has launched an open public consultation to evaluate how SURE has delivered on its main objectives to protect jobs and workers.
 
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Replay the EU Sustainable Investment Summit and InvestEU event

If you missed the livestream for the EU Sustainable Investment Summit or the InvestEU: Financing Europe’s Future event which took place on 23 and 24 January, you can now replay them on their websites.
 
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Publications

Long COVID: A Tentative Assessment of its Impact on Labour Market Participation and Potential Economic Effects in the EU

This paper provides a review of estimates of the prevalence of long COVID in the EU, and a tentative assessment of its economic impact, in particular on labour supply.

 
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The Economic impact of COVID-19 Learning Deficits: A Survey of the Literature

Studies from EU Member States show learning deficits of around one fifth of a school year in primary and secondary education. Literature associates a learning deficit of one fifth of a school year with a real GDP contraction of 0.1% - 1% by 2050.

 
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EU Candidate Countries’ & Potential Candidates’ Economic Quarterly (CCEQ) – Western Balkans and Türkiye. 4th Quarter 2023

This paper provides an overview of economic developments in candidate and pre-candidate countries.

 
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This newsletter is published by the European Commission's Directorate General for Economic and Financial Affairs. The Directorate‑General for Economic and Financial Affairs is the Commission department responsible for EU policies promoting economic growth and recovery, higher employment, stable public finances and financial stability.

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