Investment Plan for Europe to increase EU GDP
“Thanks to the Investment Plan and the commitment of the EIB Group, over the past two years we have seen hundreds of projects get off the ground and thousands of SMEs take out loans. Now we can say that the macroeconomic impact will be an increase of 0.7% of EU GDP and 700,000 new jobs by 2020. There is no denying that the Investment Plan is doing what it was created for: boosting jobs and growth in Europe“. Said vice-President Katainen, responsible for Jobs, Growth, Investment and Competitiveness.
The Investment Plan for Europe – the so-called Juncker Plan – is expected to add 0.7% to EU GDP by 2020. Today the European Investment Bank (EIB) releases new figures on the impact of EIB Group lending from 2015-2016, which highlights the positive impact made by the Juncker Plan. The European Commission and the EIB Group estimate that by 2020 the Juncker Plan will have created 700,000 jobs. By 2036, EU GDP is still expected to be 0.4% higher than it would have been without the Investment Plan, and there will be 340,000 more jobs. As of September 2017, operations approved under the European Fund for Strategic Investments (EFSI) are set to trigger €236.1 billion in total investment across the 28 Member States.