The Juncker Plan is now expected to trigger around €380 billion in investments across Europe. Following this week’s meeting of the European Investment Bank’s (EIB) Board of Directors, operations approved under the European Fund for Strategic Investments (EFSI), the heart of the Juncker Plan, represent a total financing volume of €71.4 billion.
The EIB has now approved €53.6 billion in financing for projects under the EFSI’s Infrastructure and Innovation Window. €17.8 billion in EFSI financing has been approved by the European Investment Fund (EIF) to support around 842,000 small and medium-sized businesses across Europe gain access to finance they need to innovate, expand and create new jobs. Today, the Juncker Plan is providing its backing to a €30 million investment by the European Investment Fund (EIF) in the INVL Baltic Sea Growth Fund.
The investment will help to boost equity investments in small and medium-sized businesses with high growth potential operating in Estonia, Latvia and Lithuania.
Commenting on the transaction, Valdis Dombrovskis, Vice-President for the Euro and Social Dialogue, also in charge of Financial Stability, Financial Services and Capital Markets Union said: “The INVL Baltic Sea Growth Fund will help Baltic businesses expand beyond their regional market, create value and ultimately, jobs. I congratulate the three Baltic States on being in the top ten of countries benefiting the most from the Juncker Plan, with almost €4 billion of EFSI-induced additional investments in Estonia, Latvia and Lithuania.”