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EC proposes strategic investment fund to support broadband
2014-11-26 11:08:00| Telecompaper Headlines
(Telecompaper) The European Commission has proposed a new strategic investment fund for the EU in order to channel funding to key infrastructure projects that can help stimulate economic growth and create jobs. The European Fund for Strategic Investments (EFSI) would provide funding for broadband and energy networks; transport infrastructure in industrial centres; education, research and innovation; renewable energy; and SMEs and mid-cap companies. It would be built on a guarantee of EUR 16 billion from the EU budget and EUR 5 billion committed by the EIB. The EC said a "prudent" estimate is the fund will have a multiplier effect of 1:15, so for every EUR 1 of public money spent, another EUR 15 will be invested by the private sector that otherwise would not have happened. Pending approval by the Council and Parliament, the EC aims to have the EFSI operational by mid-2015.
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Category:Telecommunications