MOSCOW, November 26 (Sputnik) - European Commission President Jean-Claude Juncker presented Wednesday his three-year plan to revive the EU economy by creating a European Fund for Strategic Investment (EFSI), planned to attract at least $375 billion of largely private contributions to high-risk projects.
“We need to invest in our education and innovation systems that are often underfunded and less equipped than those of our key competitors. Investing in people –this is what the social market economy is about,” he added.
“We need to send a message to the people of Europe and to the rest of the world: Europe is back in business,” Junker said.
Today we turn a page: We are adding the 3rd point of a virtuous triangle: An ambitious +realistic Investment Plan for Europe #investEU— Jean-Claude Juncker (@JunckerEU) 26 ноября 2014
According to the European Commission President, the EFSI will initially have 21 billion euros ($26 billion) at its disposal, with 16 billion euros ($20 billion) coming from the EU budget and 5 billion euros ($6 billion) from the European Investment Bank. EU member nations will also be encouraged to invest in the fund. Juncker said he hopes that in three years the fund will accumulate at least $375 billion.