Prodi presents action plan for European Growth Initiative
Commission President Romano Prodi presented an action plan on 11 November, which spells out what is foreseen under the European Growth Initiative, which Mr Prodi claims is the solution to Europe's decline in competitiveness. The European Growth Initiative final report has been prepared by the Commission in cooperation with the European Investment Bank (EIB), and will be discussed by the EU's Heads of State and Government in December. The initiative puts the case for investment in transport and energy networks, as well as research and innovation. The paper presented on 11 November includes a list of 'quick-start' projects which could be started within the next three years. 'The European Growth Initiative is a much needed catalyst for growth and competitiveness in an enlarged Union,' said Mr Prodi. 'We now expect the Member States to back up their good words with action. This means delivering agreed and pending reforms and backing growth supporting investments through their national and regional spending plans. [...] I hope governments will be motivated and take often long overdue decisions on these projects.' Among the areas foreseen for immediate research and innovation projects are: mobile communications and technologies; the Géant research network; the hydrogen economy; nanoelectronics; next generation lasers; the global monitoring for the environment and security (GMES) satellite network; and the Kourou launch facility. Funding for some of these projects could be made available under the Sixth Framework Programme and the Structural Funds, as well as the information and communications technology (ICT) and research envelopes within the EIB's 'innovation 2010 initiative'. Some 14 billion euro is expected to be made available between now and 2010 for projects linked to high speed communications networks, research and innovation. An additional 38 billion euro will be allocated to cross border transport projects, and 10 billion to energy projects. 'This indicates a very down to earth annual investment of around ten billion euro per annum, to come form public and private sources,' said the Commission President. The sources of funding are likely to vary from project to project, but Mr Prodi expects an overall 60/40 split between public and private financing. Mr Prodi's Growth Initiative has not been universally welcomed, and the President acknowledged on 11 November that there are still barriers to be overcome: '[W]e have made it clear from the outset that the obstacles are not only financial, but also - and probably more importantly - political and regulatory. We must do our best on our side and we must put pressure on the Council, Parliament and Member States to complete the roadmap set out in the European Growth Initiative report.'