EU Unveils 315 Billion-Euro Plan to Unlock EIB Financing
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The European Commission proposed a 315 billion-euro ($394 billion) investment plan based on guarantees and a small amount of seed money in order to offer European Investment Bank funds to a wider range of projects.
The EIB will contribute 5 billion euros in start-up cash, accompanied by 16 billion euros in European Union guarantees. The start-up money, projected to have an impact of 15 times its size, will serve as capital for a new EIB unit that can share risk with private investors.