European Commission News
Juncker Plan supports Portuguese software start-ups at the Web Summit with €15 million investment into new fund Faber Tech II
The European Investment Fund (EIF) and Instituição Financeira de Desenvolvimento (IFD) – Portugal's national promotional institution – have made a €15 million investment in Faber Tech II, a new venture capital fund. The EIF's investment is backed by the Juncker Plan's European Fund for Strategic Investments. Faber Tech II will focus on investing in early-stage, data-centric start-ups in Iberia, primarily from Portugal. As of October 2019, the Juncker Plan had already mobilised €439.4 billion of investment across the EU, including €9.8 billion in Portugal, and supported more than one million start-ups and small and medium businesses. Juncker Plan-backed investments have increased EU gross domestic product by 0.9% and added 1.1 million jobs compared to the baseline scenario. By 2022, the Juncker Plan will have increased EU GDP by 1.8% and added 1.7 million jobs.
Industrial policy: recommendations to support Europe's leadership in six strategic business areas
05- 11 - 2019
Today, the Commission publishes recommendations by a group of experts, the Strategic Forum on Important Projects of Common European Interest, to boost Europe's competitiveness and global leadership in six strategic and future-oriented industrial sectors: Connected, clean and autonomous vehicles; Hydrogen technologies and systems; Smart health; Industrial Internet of Things; Low-carbon industry; and Cybersecurity. Important Projects of Common European Interest (IPCEIs) comprise innovative research projects that often entail significant risks and require joint, well-coordinated efforts and transnational investments by public authorities and industries from several Member States. By investing jointly in Europe's industrial strengths and assets, the EU can generate jobs and growth across sectors and regions and strengthen its role on the global stage.
EU boosts humanitarian assistance following floods in Horn of Africa
30- 10 - 2019
As heavy flooding in the Horn of Africa region continues to put the lives of many vulnerable communities at risk, the European Commission today is providing an additional €3 million in emergency aid. The funding will be provided through humanitarian organisations in Somalia, Ethiopia, Kenya and South Sudan. “The EU stands in solidarity with the people of Somalia, Ethiopia, Kenya and South Sudan. These floods are a clear consequence of climate change, and are now a further driver of displacement and suffering to already vulnerable people. Our emergency aid will help deliver essential supplies to save lives," said Commissioner for Humanitarian Aid and Crisis Management, Christos Stylianides. The EU funding will provide emergency shelter for displaced people, food, logistics support for access as well as water, hygiene and sanitation assistance aimed at preventing the outbreak of cholera and other water-borne diseases.