The doubling of Juncker Plan : What does it mean ?September 16, 2016
Hat: The doubling of Juncker Plan : What does it mean ?
Funding Scheme: 2016-09-16
The European Fund for Strategic Investments (EFSI), also named Juncker Plan, is going to be double and reach 630 trillion euro for a period up to 2023.
What is the Juncker Plan (or EFSI) ?
Announced shortly after Jean-Claude Juncker’s election at the head of the European Commission in 2014, Juncker Plan aims to stimulate growth after the drop of investments due to 2008 economic crisis. The Juncker Plan depends on the EIB (European Investment Bank) and is supposed to finance European projects that did not succeed to obtain funds from traditionnal public European funds (ERDF, ESF, Horizon 2020) because they were evaluated as too risky.
The Juncker Plan funds European “strategic” and “innovative” projetcs and in compliance with traditionnal European funded fields as digital, energy, environmental protection and even SMEs develpment.
Doubling and strenghtening of the Juncker Plan
During a speech at the European Parliament on September 14th 2016, Jean-Claude Juncker accound his will to double the EFSI and extend its programming period to 2023. Furthermore, as the objectives and results were satisfactory according to him, there are no reason to delete this financial tool.
The outcome is considered as globally positive after one year of implementation (already 115 million euro were invest) and European Institutions and Member-states are convinced to renew the experience.
In this way the funding capacity of the Juncker Plan will be increased up to 630 billion euro and extended to 2023.