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December 11, 2014

Brussels provide Spain investments of 3,870 million euro

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Brussels provide Spain investments of 3,870 million euro

The European Commission has selected 27 Spanish projects for the “Junker’s plan”. Spain seeks for financial support of 53,000 million euro for projects of “Junker’s plan”.

The so-called Plan J, or “Junker’s plan” has begun its step today in the first discussion at the meeting of Ministers of Economy and Finance Group of the European Union (Ecofin). The working group, whose mission is to mobilize around 290,000 million of private investment, taking into account the state guarantees of 21,000 million euro, submitted its first report to the Ministers, among whom was present the Spanish Minister of Economy and Competitiveness, Luis de Guindos.

The first report includes a preliminary list of projects that the European Commission has selected for searching the funding under the “Plan J”, and includes dozens of infrastructures in 28 countries of the European Union. But there are included also the projects that can attract funding in the short term, namely for a period of three years (2015-2017), during which, at the same time, it must be developed a new strategic plan of investments.

The selection made by Brussels also includes 27 Spanish projects: four refer to the media and the digital market; five to the energy sector; 17 to the transport sector; and one project in the field of environmental protection.

Of those already selected projects, at least five projects (telecommunications network in the Canary Islands, Navarra and Andalusia; broadband via submarine cable between the Iberian Peninsula and Brazil, and the installation of smart counters) can already now obtain financing of 3,870 million during the first period of the plan J, according to the report of the working group formed by the European Commission, the European Investment Bank and all national authorities.

An estimated for immediate investment in Spain amount exceeds the quota of France (2.989 million euro), but is significantly different from the part of Germany (7.878 million euro).


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