Fund will aid riskier states

The EU’s strategic investment fund designed to kickstart projects worth €315bn will go to riskier countries, the commissioner in charge of the strategy said.

Fears that this would exclude Ireland, currently able to borrow on the markets at less than the rate charged by the European Investment Bank, were downplayed by Ibec, the employers and business organisation.

The former Finnish prime minister, Jyrki Katainen, who is now a commission vice president with oversight of jobs, growth and investment policies, said: “We will invest in countries with more risk than others.”