European Union wants to create 21 billion fund to support investment

The European Union plans to create a fund worth 21 billion euros that aims at covering risks triggered by common projects with private investors.

The fund is believed to have an impact 15 times higher than its initial value and will support an investment program of 300 billion euro overall in the European Union, according to EU officials quoted by Bloomberg.
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European Investment Bank will contribute with 5 billion euro while the other 16 billion will be financed by the European Commission in form of deposits without requiring capital injections from the Member States.