Connect with us

Hi, what are you looking for?

Capital Business
Capital Business
The plan is the cornerstone of European Commission chief Jean-Claude Juncker's five-year agenda to jumpstart the EU's moribund economy /AFP

World

Juncker unveils giant 315 bn euro plan to ‘kickstart’ Europe

The plan is the cornerstone of European Commission chief Jean-Claude Juncker's five-year agenda to jumpstart the EU's moribund economy /AFP

The plan is the cornerstone of European Commission chief Jean-Claude Juncker’s five-year agenda to jumpstart the EU’s moribund economy /AFP

STRASBOURG, November 26- European Commission chief Jean-Claude Juncker unveiled a huge 315-billion euro investment plan Wednesday to “kickstart” the stalling economy, saying it would show the world that Europe is back in business.

The eagerly awaited plan, the keystone of Juncker’s five year mandate, involves the EU setting up a 21 billion euro ($26 billion) fund with the aim of drawing in 15 times that amount in private investment.

Juncker hopes the proposal will boost desperately needed jobs and growth amid concerns that Europe’s failure to recover from the financial crisis is dragging the world economy down with it.

“Europe needs a kickstart and today the commission is providing the jump cable,” Juncker told the European Parliament in Strasbourg, France.

“We need to send a message to Europe and to the rest of the world: Europe is back in business.”

The former Luxembourg prime minister said he had a vision of children in the Greek city of Thessaloniki going to a school filled with computers, and French drivers charging their electric cars by the side of a motorway.

Click to comment
Advertisement

More on Capital Business

Executive Lifestyle

NAIROBI, Kenya, Mar 12 – The country’s super wealthy individuals are increasing their holding of bonds, gold and cash, a new report by Knight...

Ask Kirubi

NAIROBI, Kenya, Mar 9 – Businessman and industrialist Dr. Chris Kirubi has urged members of the public to exercise extreme caution when making any...

Ask Kirubi

NAIROBI, Kenya, Mar 24 – Businessman and industrialist Dr. Chris Kirubi is set to own half of Centum Investment Company PLC, following a go-ahead...

Ask Kirubi

It is without a doubt that the COVID-19 pandemic has caught the whole world by surprise. Although its full impact is yet to be...

Headlines

NAIROBI, Kenya, Mar 18 – Commercial Banks have been ordered to provide relief to borrowers on their personal loans, with loans eligible from March...

Kenya

NAIROBI, Kenya, Jun17 – Kenya’s tea leaves manufacturer Kericho Gold, has been awarded the Superbrands Seal by Superbrands East Africa for their quality variety...

Coronavirus

NAIROBI, Kenya, Apr 13 – As the local telecommunications industry gears up to roll out 5G networks in the country, the Communications Authority of...

Coronavirus

NAIROBI, Kenya, Mar 22 – Airtel Kenya is offering free internet access for students in order to enable continued learning at home in the...