Investment Plan for Europe expected to trigger investments of EUR 154 billion

Just under two years since it was first announced by the Juncker Commission, the Investment Plan for Europe is expected to trigger investments of EUR 154 billion, almost half the originally earmarked EUR 315 billion. Operations approved under the European Fund for Strategic Investments (EFSI) now represent a total financing volume of EUR 27.5 billion and are located in 27 Member States. These figures were released on 17 November following a meeting of the European Investment Bank (EIB) Board of Directors, which approved 17 new projects to be financed under the EFSI. The EIB has now approved 151 infrastructure projects for financing under the EFSI, which represent a volume of financing of EUR 19.8 billion. The European Investment Fund (EIF) has approved 234 SME financing agreements, with total financing under the EFSI of EUR 7.7 billion. Close to 377,000 SMEs and Midcaps are expected to benefit. Recently concluded EIB deals include EUR 100 million to upgrade energy networks in Italy; EUR 105 million to help finance a gas-fired thermal power plant in Kiel, Germany; a EUR 150 million loan to support energy efficient building in Finland; a EUR 50 million guarantee to help finance medium-sized companies in Croatia; a EUR 75 million loan to support Spanish innovation projects and the first public-sector EFSI transaction in Poland: a PLN 238m (around EUR 57 million) loan to finance the renovation of a hospital, as well as EIF support of EUR 20 million for Portuguese SMEs and EUR 40 million for innovative companies in Luxembourg.