EU ministers agree on 315b euro investment plan

Brussels

EU finance ministers agreed to the details of a 315 billion euro (S$469.7 billion) investment plan on Tuesday to help revive the European economy without piling up more debt, and now aim to get the first projects going by the end of the year.

EU lawmakers must now approve the fund. "The plan is the answer we need to confront the main handicap of the European economy: the lack of investment," said Pierre Moscovici, the EU economics commissioner, adding that investment had fallen by 15 to 20 per cent since 2008.