Brussels, 30/06/2015 (Agence Europe) - On Tuesday 30 June, Bulgaria announced that it would contribute €100 million to the funding of the projects supported by the European Fund for Strategic Investments (EFSI), the financial arm of the Juncker plan.
As with all the other contributions already announced by other member states, Bulgaria's contribution will be made through a national promotional bank, in this case the Bulgarian Development Bank. Seven countries have already announced that they will make a contribution to the Juncker plan on a voluntary basis: Germany, France, Italy, Poland (€8 billion each), Spain (€1.5 billion), Slovakia (€400 million) and Luxembourg (€80 million).
Last week, the European Parliament approved the regulation instituting the EFSI which, from the autumn, will provide a guarantee for the first losses made by projects selected by the EIB (see EUROPE 11342). The Juncker plan is designed to draw down €315 billion in new investments in future-oriented sectors over three years. (Mathieu Bion)