Local view for "http://purl.org/linkedpolitics/eu/plenary/2012-07-04-Speech-3-439-000"
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"en.20120704.28.3-439-000"2
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"Mr President, I very much welcome the opportunity to take part in this debate and I look forward to the vote on this issue tomorrow.
It is particularly encouraging that the proposal for a pilot phase of the project bond initiative has been brought to a successful and timely conclusion. In this regard I am very pleased to acknowledge that this was fully taken into account by the European Council in its conclusions last week. Stimulating investment in infrastructure is a key element in supporting growth and creating jobs.
At a time when national budgets are under considerable pressure, it is essential to look for new and innovative ways to boost economic growth throughout the Union. Access to finance has become more difficult in the wake of the financial crisis. In the current challenging economic environment, we need to ensure that long-term investment in the fields of transport, energy and information technology can be maintained.
The project bond initiative is designed to help attract and facilitate private financing of priority projects. The European Union contribution to the project bond instrument should help leverage large volumes of investment. If we can achieve high multiplier effects, initiatives such as the Project Bond Instrument will help ensure that scarce budgetary resources are used as effectively as possible. Provided that the experience of the project phase is positive, the volume of such financial instruments could be developed further in the future.
The agreement reached with Parliament is therefore particularly welcome. It specifically addresses several elements that are important to the Council, including the need to launch the initiative as soon as possible. It also provides for appropriate reporting during the critical first phase and for an independent evaluation at the end of the pilot phase to allow us to assess the impact and effectiveness of the instrument.
Many of these concerns were shared by Parliament. This helped us make rapid progress, for which I would like to express my thanks to the Danish Presidency for the particularly efficient way in which it conducted the negotiation. Thanks are also due to both Parliament and the Commission for their openness and willingness to secure an agreement as soon as possible. I would, in particular, like to express our gratitude to Göran Färm for the excellent way in which he has handled this important dossier and the constructive manner in which he approached the negotiation.
More than ever, we need to stimulate smart, sustainable and inclusive growth in the EU. A wide range of instruments and policies have to be used in order to achieve this. I am therefore pleased that by working closely with the European Parliament and the Commission we have been able to deliver on the project bond initiative. It will make an important contribution to supporting investment in infrastructure and will thereby help boost economic growth and create jobs. I am sure that is something that all of us will welcome."@en1
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