EU puts focus on broadband as part of €315B investment plan

Jean-Claude Juncker, the new president of the European Commission, unveiled a three-year €315 billion ($392 billion) investment plan that includes a strong focus on broadband network investments across the continent. The Commission is creating a new €21 billion European Fund for Strategic Investments, guaranteed with public money from the EU budget and the European Investment Bank (EIB). The fund will support strategic investments in infrastructure, notably broadband and energy networks. "With a €21 billion reserve, the EIB can give out loans of €63 billion. That's €63 billion of fresh financing we've just injected into the economy. But the EIB will not be acting alone. The EIB will be financing the riskier parts of projects worth €315 billion, meaning private investors will be pitching in the remaining €252 billion," said Juncker. You can see further details of the investment plan here.