Economy
Investment Plan for Europe: Italy to contribute €8 billion
Today (10 March) Italy announced that it would contribute €8 billion to projects benefiting from finance by the European Fund for Strategic Investments (EFSI), which is the core element of the €315bn Investment Plan for Europe. The contribution will come via its National Promotional Bank Cassa Depositi e Prestiti. That makes Italy the fourth country to contribute to the Plan even before the European Fund for Strategic Investments has been formally set up.
European Commission Vice-President Jyrki Katainen, responsible for Jobs, Growth, Investment and Competitiveness, said: "The ball is rolling! Italy is the fourth Member State to pledge a sizeable contribution to our Investment Plan for Europe. I am delighted that member states are putting their money where their mouths are, helping us to make the most of the plan and to create jobs and lasting growth in Europe."
The announcement comes on the same day that European Union finance ministers have agreed on the Commission’s proposal for a Regulation on the European Fund for Strategic Investments (EFSI). The Commission is ready to provide all the technical support needed to get the proposal adopted by the co-legislators swiftly.
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