EU banking on investment to spur growth

In the modern European Union office district in picturesque Luxemburg, the 10-floor glass building that houses about 2,000 employees of the European Investment Bank is among the earliest of Europe's energy saving buildings.

As the in-coming European Commission President Jean-Claude Juncker, who will take office in November, announced his "new deal" for the EU's reindustrialization, this bank has been tasked with shouldering the mission of boosting investment to give a shot in the arm to the EU economy. Juncker, who is seeking to finalize a 300 billion euro ($385 billion) investment scheme for the EU by February next year, wants the European Investment Bank to boost growth and jobs, which 25 million men and women, especially the young, desperately need.

Working in the clean, bright building since 2012, Werner Hoyer, the bank's president, has been working around clock with his colleagues to prepare detailed investment proposals for Juncker's team.