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In Money Matters

EU crisis plan to please tech and telecom sectors, green energy projects

24th August 2020

EU crisis plan to please tech and telecom sectors, green energy projects Pin It

The EUR 750 billion crisis package of the European Union is particularly good news for lenders in the tech and telecom sectors. Furthermore, sustainable initiatives in energy and transport are classified as part of the aid as a credit positive, according to Moody’s after research.

According to the company, the European recovery plan will encourage countries to make long-term sustainable financing. Also because the EU wants to tackle climate change. If everything is carried out according to plan, it will boost a broad economic recovery that will support the demand for goods and services in all sectors, says Moody’s. Details of the impact of the emergency aid are still missing or are still dependent on approvals.

Investment in infrastructure for improved connectivity and a stronger technological presence in Europe will support the telecom and technological sectors. The gradual introduction of direct public funding for telecom infrastructure and other measures will, according to researchers, have a positive impact on the credit of European telecom companies.

For utilities, EU grants for specific green energy projects will partially alleviate the pressure on capital expenditure. In doing so, capital expenditure in the utilities sector will continue to increase compared to the current levels due to the focus on green. Most of these investments will be made in renewable energy and networks, according to Moody’s.

The EU Recovery Fund will have EUR 390 billion in grants and EUR 360 billion in loans. The EU’s multi-annual budget for 2021-2027 focuses on issues such as climate, reuse of raw materials and digitisation.

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