Budgets Committee gives green light to new financial instrument for infrastructure projects / 26-04-2012

Members of the European Parliament's Budgets Committee today approved the launch of the pilot phase of project bonds, designed for investment projects.

Based on a credit-enhancement mechanism, this instrument aims at leveraging the European budget in the fields of transport, energy and telecommunications, by reinforcing the private sector's participation.

"Investing in major European networks is the key to growth, being a necessary counterpart to any budgetary discipline", said Dominique Riquet MEP, EPP Group Rapporteur on this dossier.

The issue of 'Eurobonds', which had been put forward by the S&D Rapporteur, was postponed until a later date. "Here, we are dealing with a politically-sensitive issue, which deserves a proper debate in the European Parliament", said Dominique Riquet. "Meanwhile, project bonds do contribute to the drafting of a real industrial policy on a European scale.  

(Portal Europe)