Commission unveils €315bn growth package for EU

Commission unveils €315bn growth package for EU

The European Commission has unveiled a €315bn package to boost jobs and growth in the European Union.

The Commission will provide €21bn, with the remainder coming from private investors.

Suitable projects for funding such as roads, educational supports and housing will have to be submitted and assessed for funding approval.

Barbara Nolan, who heads up the EU office in Dublin, said the investment plan had the potential to create much-needed economic growth in Ireland and across Europe.

"Despite the low interest rates across Europe, we are not getting the investment we require to get growth going again," she said. "We're hoping this package will stimulate more investment from the private and public sectors."

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