EU heads of state and government are expected to endorse European Commission President Jean-Claude Juncker's EUR 315 billion investment plan, with contributions from the EU budget and the European Investment Bank. Brussels also hopes for the involvement of member states.
"They will adopt decisions for the establishment of a new European Fund for Strategic Investments aimed at encouraging private investments in key sectors of the EU economy as well as boosting economic growth and job creation," the Office of the President of Lithuania said in a statement on the eve of the summit.
Last week, EU member states announced around 2,000 projects that would need EUR 1.3 trillion in funding. The European Commission plans to present legislation on the new plan early next year when criteria for receiving funding will also become clear.
The meeting of EU leaders will also address the EU external policy issues and the situation in Ukraine. This country needs the EU's support in its process of major economic and legal reforms. European leaders will exchange views on providing financial, expert and humanitarian assistance.
A discussion on further relations with Russia is scheduled on Thursday night.
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