Local view for "http://purl.org/linkedpolitics/eu/plenary/2010-11-11-Speech-4-943"

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"Today’s vote sees the establishment of a new and important fund to finance projects in the renewable energy and energy efficiency sector through innovative financial instruments. The fund has two aims: promoting energy saving and improvements in the environment and, at the same time, giving fresh impetus to Europe’s economic recovery. The fund shall finance initiatives and energy projects, adopting a different philosophy from the past, no longer focusing on straight grants, which have many times been shown to be disastrous, but on the profitability of the investment. If used well, I believe that this new formula will herald the coming of a new virtuous cycle for the revitalisation of the European economy. Furthermore, the new financing instrument represents an important opportunity for the development of local entities, above all, those in the south of Italy. In fact, the fund could also be integrated with other European funds, such as the European Regional Development Fund, for example. By voting decisively in favour of this new fund, I am expressing my hope that this innovative type of financing could also be extended in the future to many other sectors, starting with road, rail, port and airport infrastructure."@en1

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