Research and ICT projects foreseen under Franco-German growth initiative

Brussels, 19 Sep 2003

French President Jacques Chirac and German Chancellor Gerhard Schröder have unveiled new plans to boost Europe's economy, following a joint cabinet meeting between the two countries' governments.

Their proposed 'growth initiative' calls for the establishment of 10 major infrastructure projects grouped under four headings: research and development, information and communication technologies (ICT), sustainable development, and transport.

Mr Chirac said that: 'European should not wait for growth, it should go out and look for it.'

The two leaders said that it was too early to specify how much would be spent on the projects, but some reports predicted that the total figure would be in the region of 3 billion euro.

The announcement by France and Germany follows similar proposals by the Italian Presidency, and the Commission's 'Initiative for Growth', which called on Member States to review their spending plans and redirect public investment towards areas that will encourage growth.

CORDIS RTD-NEWS / © European Communities