€21bn to fund public-private EU investment

The EU will set up a €21bn fund to kick-start public-private investment projects, reports Bloomberg.

The EC will kick in €16bn and the European Investment Bank (EIB) will contribute €5bn.

The EC reckons the €21bn plus a package of debt, loans, lending guarantees and equity stakes will stimulate €300bn of investment

EC president Jean-Claude Juncker is expected to announce the scheme this week.

The idea is to stimulate EU growth above the 0.8% rate expected this year. The EU is said to be drawing up a list of projects.

david manners

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via Yuichun