Published: Thu, 27 November 2014
Sean Kelly MEP has called on European Commission President, Jean-Claude Juncker, to focus his highly-anticipated €300 billion plan to boost EU economic growth on infrastructure projects. The plan, to be announced this morning (Wednesday) should target investment towards practical improvements across Europe, such as road works and other facilities, according to the Ireland South MEP.
Mr Kelly, a member of the Parliament’s Trade Committee, has insisted the funding must translate into tangible projects: “Citizens across all EU Member States want to see investment and greater economic progress on the ground. It is essential that this €300 billion be strategically targeted at key projects to maximise its benefits. In my own constituency of Ireland South, I know of several areas that could benefit: a Macroom bypass, an Adare bypass, the NII to Wexford, the Cork-Limerick Road, a new bridge at Kanturk and the list goes on. EU spending on those upgrades would make daily life easier for those living and visiting the area, improve access for tourism and for business.”
It is understood the plan will combine public and private funding initiatives in order to raise capital spending. “President Juncker is also demonstrating how highly he regards the Parliament’s role, as the only elected EU institution, by choosing to reveal his economic plan during our plenary session.”
MEP Kelly, the Leader of the Fine Gael delegation in the European Parliament, recently revealed that €850 million in new EIB funds will be made available to Ireland this year, following a meeting with the European Investment Bank President, Werner Hoyer. “The EIB funding is significant. I have emphasised the need for the government to maximise this financial support to help communities in Ireland that suffered due to the economic decline,” he added.
(More on the EIB meeting and funding here: http://bit.ly/1trGB6f )