Fomento Group received 6.16 billion euros from European Funds between 2012 and 2015, 375 million euros more than initially allocated

The Spanish Minister for Public Works underlined these figures at a conference on the Juncker Investment Plan held today at the headquarters of the Ministry of Public Works and organised with a view to promoting investment in transport infrastructure and services within the framework of the European Union.

During her speech, the minister highlighted the importance of this plan for infrastructure and transport in Spain. "The Investment Plan for Europe proposes the mobilisation of 315 billion euros into public and private investment over the course of three years", said Ana Pastor.

21-billion euro fund

To this end, a European Fund for Strategic Investments was set up at the European Investment Bank (EIB) with a view to using public financing to mobilise additional private investment while offering credit risk coverage for the financing provided by the EIB and the Fund.

The Fund consists of a 16-billion euro guarantee taken from the European Union budget and another 5 billion euros from the EIB, totalling 21 billion euros.

The Spanish minister explained that the European Commission calculates that the knock-on effect from the fund will lead to total investment of up to 315 billion euros.

The Juncker Plan is now fully operational after setting up and furnishing the fund, creating the European Investment Advice Centre and launching the European Investment Project Website.

A total of 12 projects have been approved since the fund was set up in June 2015. Two projects are worth highlighting in the field of transport: one private project that consists of replacing energy and environmentally inefficient ships with others powered by clean fuels, which aims to mobilise an investment of 350 million euros; and another promoted by the Spanish Ministry of Public Works to build and improve land accesses at ports through the Port Accessibility Fund.

Application of the fund in Spain

The Minister for Public Works stressed that application of the fund in Spain will open up new opportunities based on significant private investment in both maritime and road transport, and the presence of private initiatives that are already materialising in the field of railway transport through concessions for the operation of intermodal and logistics terminals, for example.

The development of major infrastructure projects in urban areas is also another attractive field for investments that may be guaranteed through the Investment Fund.