2,000 European projects recognised for potential investment

An EU task force has identified 2,000 projects for potential investment across the EU in its latest report. Collectively, the projects are worth €1.3tr, including €500bn that could be implemented over the next three years.

According to the report by the EU Task Force on Investment, many of the projects are currently not being realised due to financial, regulatory or other barriers and the document recommends immediate action to create a transparent pipeline of investment projects.

European Commission Vice-President responsible for Jobs, Growth, Investment and Competitiveness, Jyrki Katainen, said: “The report shows there are huge investment needs and viable projects that could lift economic growth and open up more job opportunities in Europe. There has been a severe disconnect between the available investment and credible projects on the ground. We are now taking a big step to restore investor confidence and connect the two.”

The report recommends immediate action to create a transparent pipeline of investment projects and suggested action include improving the business environment, developing national long term investment plans, and providing technical assistance to help develop sound investment projects. Carrying out value for money assessments and promoting innovative financial instruments is also recommended.

Adding his thoughts, EIB President Werner Hoyer said: “The work of the Task Force demonstrates that there are enough investment projects in Europe. EU member states provided a great number of proposals which we can build upon to create a pipeline of projects and ensure we put money where it can best meet demand. Now we need to assess the projects and select those that are economically viable and can best foster the competitiveness of Europe´s economy.

“The EIB stands ready to finance those projects on the list, as well as any other, that meet the relevant viability and strategic relevance criteria. It is also urgent to tackle the significant non-financial barriers identified by the Task Force that prevent investment for viable projects from materialising.”

The Task Force, which comprises the European Commission and the European Investment Bank, focused on projects in key growth-enhancing areas, notably knowledge, innovation and the digital economy; energy union; transport infrastructure; social infrastructure; and natural resources and the environment.