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Juncker-proposed investment expected to start flow in summer

Xinhua, January 27, 2015 Adjust font size:

The European Commission here on Tuesday expected the European Fund for Strategic Investment (EFSI) regulation to be swiftly adopted by June so investments can start to flow in the summer.

The Commission Vice-President Valdis Dombrovskis made the call at the press conference on EU finance ministers' meeting, as the Commission on Tuesday presented new legislative proposal on the EFSI.

"It is very encouraging to see such strong political will in the Council to meet this ambitious timetable and deliver," he said, noting that the Commission would aim for a political agreement by March and hope for this level of ambition to be mirrored in the European Parliament.

According to the procedure designed by the EU, the main channel to mobilise at least 315 billion euros in additional investment in the real economy over the next three years is the European Fund for Strategic Investments (EFSI), in which allows member states to participate.

Dombrovskis briefed that the finance ministers' meeting were mainly focus on economic situation in Europe, measures to strengthen the economic recovery, the situation about Greece following Sunday's elections, financial support to Ukraine, and the future of the Economic and Monetary Union. Endit