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Brussels weighing EUR 200 bn fund to restore EU growth

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(MADRID) - The European Commission is weighing the creation of a 200-billion-euro investment fund to kick-start economic growth across the debt-wracked continent, Spain's El Pais reported Sunday.

"The plan aims to raise funds valued at 200 billion euros ($265 billion) (for investment in) infrastructure, renewable energy and technology," the daily paper said, noting the proposal calls for private sector participation.

The report, which cited unnamed European sources, said the EU could choose between two financing options.

The first and most likely scenario would see a variety of partners contributing to a fund supported by the European Investment Bank and the European Financial Stabilisation Mechanism (ESFM).

The second funding scenario would call for set contributions from EU member states, but that option is considered less likely given the significant budgetary pressure confronting many European governments.

According to El Pais, the plan could be reviewed by heads of state before a summit scheduled for late June.

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