European Commission head Jean-Claude Juncker on Wednesday proposed to double his flagship EU investment plan to 630 billion euros by 2022 in a bid to boost the economy."Investment [opportunities] mean [the creation of more] jobs. Today, we propose to double the duration of the fund and to double its financial capacity," Juncker told the European Parliament in Strasbourg as part of his annual State of the Union speech."We will make sure that our European investment fund will provide a minimum of at least 500 billion euros worth of investment [potential] by 2020 and we will work [to surpass] that and reach 630 billion euros by 2022," he added.The original Juncker Investment Plan, launched in 2015, aimed to stimulate the European economy by 315 billion euros ($350 billion) over three years.The investment plan works by turning roughly 21 billion euros in seed money from the EU budget and the bloc's European Investment Bank (EIB) into loans that support carefully selected European businesses, infrastructural projects and start-up companies.EU member states have so far refrained from buying into the Juncker plan and have only proposed national projects for eligibility. The Commission had originally hoped that national governments would contribute directly to the fund. "Of course, with the member states contributing, we can go even faster," Juncker told members of parliament.