EU agrees $76bn investment plan

Report of a decision taken at the European Council, Brussels, 12 December 2003. The European Council endorsed the European Action for Growth, on the basis of the reports presented by the ECOFIN Council, the Commission and the EIB. The Action covers material as well as immaterial investments in two broad areas: the trans-European network infrastructure (TENs) including transport, telecommunications and energy, and innovation and R&D including environmental technology. It is an important step in the implementation of the Union's Lisbon agenda to improve competitiveness, employment and the enlarged Union's growth potential through higher investment in both physical and human capital to complement structural reform.

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