Brussels, Nov 8 (EFE). - The Member States of the European Union (EU) today gave their approval to prolong the life of the Community Strategic Investment Fund for two years, until 2020, and expand its investment objective to 500,000 million euros.

This Fund, the main instrument of the so-called Juncker Investment Plan, was established in 2015 with the objective of Initial mobilization of 315,000 million euros in EU and especially private funding for projects in the EU until 2018.

"Investment conditions have improved in Europe, but Investment rates are still below pre-crisis levels, "Estonian Finance Minister Toomas Toniste, whose country holds the presidency, said in a statement. every six months of the EU.

"With a larger and more effective fund, we will be able to boost investment and strengthen long-term growth prospects."

The end of the is "to obtain as much private funding as possible," according to the Council, which recalled that in addition to extending life and expanding its investment objectives, the changes will increase the contribution of the European Investment Bank (EIB) up to 7,500 million euros, compared to the 5,000 million it contributes now.

The new regulation of the Fund introduces new sectors who can benefit from investments, reinforces their performance in climate-related activities and provides specific support for those countries that have more difficulties present candidate projects for funding.

Brussels pays special attention to mobilizing financing for projects that, due to their level of risk or innovation, do not have facilities for receive financing from the market.

In this sense, the fund is committed to being the first investor to take losses if a project goes wrong.

The projects financed so far they belong to the transport, energy and broadband infrastructure sectors, as well as education, health, development or risk financing for SMEs.

The Investment Fund Strategic works through the EIB, which is responsible for approving the initiatives that receive funding.

The Ambassadors of the Twenty-eight supported the expansion today after have reached an agreement for this with the European Parliament in September, and now it is expected that the European Parliament will approve the final text of the regulation at first reading and this will be remitted to the Council - the countries - for final adoption.