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“THE JUNCKER PLAN” EXCEEDED ITS INITIAL EXPECTATIONS

The Investment Plan for Europe initiated by European Commission, also known as Juncker Plan, was launched in November 2014 to improve investment and financial environment in the EU area and to put Europe on the path to economic recovery. This initiative exceeded its expectations and mobilised EUR 360 billion worth of investments – mostly from the private sector. Juncker Plan made successful changes by encouraging measures for increasing regulatory predictability and eliminating obstacles for investments in Europe, as well as encouraging private investments and targeting investments that meet the needs of economy. Key measure of Juncker Plan initiated by the EIB Group (European Investment Bank) is EFSI (European Fund for Strategic Investments). New, InvestEU fund, is a structural reform in the EU budget that brings the multitude of EU financing programmes into a single structure to further boost jobs, innovation and skills in Europe. By building on the success of EFSI, the aim of this reform is to mobilise an additional EUR 650 billion of investments.

Within the Croatian economy, Croatian Bank for Reconstruction and Development (HBOR) played a role in Juncker Plan implementation, mainly by establishing the Croatian Investment Project Portal, creating new financial products in accordance with the needs of Croatian economy and identifying economically and technically viable projects in key sectors – especially in innovative, ecologically beneficial and social areas that were proposed for financing under the EFSI.

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