€700 billion in European investments given green light by EP

first_imgWhatsApp <a href=’http://revive.newsbook.com.mt/www/delivery/ck.php?n=ab2c8853&amp;cb={random}’ target=’_blank’><img src=’https://revive.newsbook.com.mt/www/delivery/avw.php?zoneid=97&amp;cb={random}&amp;n=ab2c8853&amp;ct0={clickurl_enc}’ border=’0′ alt=” /></a> SharePrintcenter_img European Union flags are seen outside the EU Commission headquarters in Brussels, Belgium April 1, 2019. REUTERS/Francois LenoirEuropean Union flags are seen outside the EU Commission headquarters in Brussels, Belgium April 1, 2019. REUTERS/Francois Lenoir MEPs have approved the ‘InvestEU’ initiative, which estimates to generate €700 billion in investments. This will be done by increasing the EU guarantee from €38 billion to €40.8 billion.This programme aims at addressing the problematic investment gap currently in the EU, despite numerous initiatives to remedy the situation.During negotiations held with the EU ministers, it was discussed that the fund would prioritise objectives such as employment, the achievement of the Paris Climate Agreement, social cohesion, and better climate protection.The report was adopted with 463 votes in favour, 64 against, and 29 abstentions. Roberto Gualtieri, co-rapporteur and Chair of the Economic and Monetry Affairs Committee said that InvestEU is shaping the future of the EU towards more investment to support small and medium-sized enterprises, as well as local projects.The ‘InvestEU’ initiative replaces the current European Fund for Strategic Investment. It will consist of the InvestEU Fund, the InvestEU Advisory Hub, and the Invest EU Portal.last_img

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