EU Backs €230M In Project Bonds To Woo Private Investors

Law360, New York (July 05, 2012, 7:12 PM ET) -- The European Union's legislative body moved Thursday to issue €230 million ($285 million) worth of guarantees for project bonds that lawmakers hope will attract 15 to 20 times as much private investment in transport, energy and information technology network projects.

The overwhelming 579-32 vote of the European Parliament mobilizes the project finance component of a €120 billion stimulus package the European Council unveiled last week aimed at boosting growth and jobs in the troubled Eurozone.

Dubbed the Compact for Growth and Jobs, the stimulus plan supports...
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