PARIS: France will commit €8.0 billion ($A11.35bn) as part of European Commission President Jean-Claude Juncker’s plan to boost economic growth.
To create an effect of leverage, the Juncker plan must attract other contributions – public contributions and private contributions – and France,through the Caisse des depots and the Public Investment Bank, will put in eight billion euros,” President Francois Hollande said on a visit to Luxembourg on Friday.
EU leaders last December approved the broad outline of Juncker’s €315bn investment plan, intended to kick-start growth in Europe by financing hundreds of projects.
Germany has committed €15bn to the plan and Spain €1.5bn but other EU member states have been slower to react.
But European Commission Vice-President Jyrki Katainen welcomed the French contribution and said: “The plan is progressing fast with the commitment of Member States and we are confident the results will start to be visible this summer.”
