Local view for "http://purl.org/linkedpolitics/eu/plenary/2012-07-05-Speech-4-157-062"
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"en.20120705.19.4-157-062"2
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"Parliament voted overwhelmingly in favour of bonds to fund transport, telecommunications and energy projects. These project bonds, which we have been negotiating for months, will be financed by the redeployment of existing budget lines amounting to a maximum of EUR 230 million. EUR 200 million will be invested in transport networks, EUR 20 million in information and communication technology (ICT) networks and EUR 10 million in energy networks. Let us be clear: project bonds do not pave the way to possible debt mutualisation; they are issued by private sector companies which bid on a call for tenders and which are guaranteed by the European Investment Bank (EIB) for up to 20% of the project. By attracting private capital and limiting risk, the EU hopes to raise EUR 4.4 billion in the pilot phase by 2014, which will finance investments in viable, long-term projects. I welcome this initiative of the Commission, which has the potential to stimulate growth in Europe without giving rise to additional expenditure. This is a considered and responsible proposal."@en1
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