Juncker plan, investments in Italy head to 1.7 billion – BBC

Crawler was the steel group Arvedi, which last May has obtained 100 million loan from the EIB guarantee under the European Fund for strategic investments, which is the operational arm of the Juncker plan. The EU machine was set in motion. In about a year, Italy is at the top of the beneficiaries countries drawn up by the EU Commission, with 1.7 billion investment triggered through 29 projects, including funding arrangements to SMEs (as well as big or as Telecom Italy Trenitalia) and infrastructure plans (1.4 billion). Expectations are for 12 billion of resources put into motion with the ” leverage ‘and the creation of over 3,200 new jobs.

projects

It is the mechanism of the Plan investment launched by the EU Commission president Jean-Claude Juncker in November 2014 to put the economy in old Continent and create new jobs. The European Fund for Strategic Investment (English acronym Efsi) has the goal of freeing 315 billion in three years, from 16 billion to the EU budget guarantees and 5 billion “cash” made by the EIB. Among the projects that have received funding are the Telecom Italian plan for ultra broadband, which aims to increase the coverage for families from 32% now to 60%. The telecommunications group has signed in December an agreement for a loan of 500 million, of which 30% will be dedicated to the development of the network in the South. It is also the end of December 300 million loan to Trenitalia for the purchase of 49 new locomotives and 250 passenger coaches with two floors for commuters to the regional networks in Lazio, Tuscany, Veneto, Piedmont and Liguria. Transport and energy are among the strategic sectors financed by Juncker Plan, which aims to move through the Efsi private capital to resume making investments in Europe. It was launched the plan for the development of the connection rail network between major Italian cities. In January, the Grimaldi Group has seen the approval of 200 million for the purchase of 10 new ships to be used in the Europe-North America and is the second Rete Gas will have the same amount of money to be allocated to the installation of smart gas meters. Tranches of finance are also smaller amounts, such as 30 million approved by the EIB for the Milazzo refinery to improve energy efficiency of the systems and processes. The safeguards put in place by Bei and Fund are also determined to reactivate the credit to SMEs, which in recent years, because of the crisis, have suffered from the contraction of loans by banks.

the SMEs

the combined action of the ECB, which is flooding the market liquidity, combined with the system of guarantees of the Juncker Plan should help unlock the situation even when the risk appears higher. The EIB has signed a number of safeguards through which SACE will in turn increase their volumes and their warranty coverage rate to final beneficiaries. SMEs have so far received 318 million to cover 21 operations for the benefit of over 44,000 companies, which as expected will mobilize a total of more than 7 billion investment. It is the financing agreements concluded between the European Investment Fund (EIF) and the banks, that will deliver new loans to small and medium-sized enterprises.