Press Release: Commission welcomes Parliament’s endorsement of risk-sharing instruments for Member States worst hit by the financial crisis, to contribute to investment and job creation

The European Parliament has approved the Commission’s proposal enabling the use of cohesion policy allocations still available to back-up guarantees and loans by financial institutions such as the European Investment Bank (EIB). EU funds will be used to create so-called “risk-sharing instruments”.

The measure is intended to address the serious obstacles faced by some Member States, especially Greece, in raising the private financing needed to implement key projects which can only be part-financed by public funds. This tool will support more investment in the economy and therefore creation of jobs.