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The EU will invest ? 50 billion in an infrastructure development

Neelie Kroes – the EU Telecommunications commissioner has announced her intention to invest € 50 billion into the modernization of digital techs, energy and transport infrastructure - it will create thousands of vacancies and can be an incentive for attracting of private capital to this industry.

The plan provides a scheme of bonds involving to the European Investment Bank (EIB). According to Philippe Mayshtadt the president of EIB the financial resources of the European infrastructure have been remarkably reduced during the economic crisis when banks have tightened the requirements for long-term lending. The use of bonds – it is an attractive method of investment, such as pension funds and insurance companies and may be effective as an addition to conventional financial instruments.

According to the European Union the creation of "smart" infrastructure of pan-European transport and energy networks and communication can take up to 1.5-2 billion of euros. Most (32 billion) will be directed to projects of transport development, 9 billion of euros - for creation of "smart" power grids and another 9 billion of euro – for creation of infrastructure, broadband and digital services. It will be allocated 7 billion of euros for the broadband communications infrastructure in 2014 – 2020 years and would be also able to bring 50 billion of euros. In order to bring 30 Mb / s speed for each European by 2020 and the half the population of Europe - 100 Mb / s. It is necessary to invest 270 billion of euros into the industry development.

26 October 2011
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