In last year's elections, he said, more than 200 jurisdictions had growth initiatives on the ballot, "and most of them passed."

"It's just a smart way to generate some cash that can fund some other growth initiatives," he added.

"Though pleased with these results, we know our growth initiatives will continue to require aggressive investment and entail significant execution challenges."

Soccer for Peace has identified several growth initiatives, ranging from short-term projects to long-term opportunities.

"We'll continue to carefully manage costs and move forward with our growth initiatives while delivering solid financial results."

He goes on to say, to quote him again, that 'the expression 'growth initiative' can lead to confusion.

The major works projects, rather hastily baptised the 'growth initiative', risk being buried once again.

In my view, the growth initiative is an important factor in relaunching other aspects.

For that reason the Amsterdam commitment to financing a European growth initiative must be put into practice at the very least.

And I mentioned those, the ones I've concentrated on here, have been economic growth initiatives, infrastructure.