Italy's proposal to bolster defence
capabilities is to create a guarantee fund optimising the use of
national and European resources with the objective of involving
private capital more effectively, with limited public spending,
Economy Minister Giancarlo Giorgetti told an ECOFIN meeting
Tuesday in Brussels.
The guarantee scheme could potentially raise investments worth
up to 200 billion euros, Giorgetti said.
The draft plan, he explained, is of a "guarantee fund optimizing
the use of national and European resources with the aim of
conveying private capital in a more effective manner, with
contained public expenditure", said Giorgetti.
"A guarantee fund of about 16 billion euros will be able to
mobilize up to 200 billion in additional industrial investments,
in line with the best practices of InvestEU and first of the
European fund for strategic investments", he noted.
Earlier, Giorgetti said Italy will to do its part to bolster
Europe's defence, but not by sacrificing health care and other
public services, according to a note issued by the economy
ministry.
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