The President of the 2465 European Commission José Manuel Barroso has unveiled his plans to raise new sources of finance to fund 3287 EU infrastructure projects.
In a key 'State of the Union' address to the European Parliament, he said it would involve the establishment of EU project bonds issued in conjunction with the1054 European Investment Bank (EIB).
“We should also explore new sources of financing for major European infrastructure projects. We will also further develop public-private partnerships [PPPs],” said Barroso.
While German Finance Minister Wolfgang Schauble dismissed Barroso's proposal for being out of step with the EU's more immediate priorities, and “unworthy for discussion”,6164 European Construction Industry Federation (FIEC), a trade group representing the construction industry, applauded the initiative.
“We fully share the underlying conviction that these investments at the European level are necessary for jobs - not only in the construction industry - and the further development of the EU,” said Luisa Todini, FIEC president.
In a key 'State of the Union' address to the European Parliament, he said it would involve the establishment of EU project bonds issued in conjunction with the
“We should also explore new sources of financing for major European infrastructure projects. We will also further develop public-private partnerships [PPPs],” said Barroso.
While German Finance Minister Wolfgang Schauble dismissed Barroso's proposal for being out of step with the EU's more immediate priorities, and “unworthy for discussion”,
“We fully share the underlying conviction that these investments at the European level are necessary for jobs - not only in the construction industry - and the further development of the EU,” said Luisa Todini, FIEC president.
