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By Barbara Lewis BRUSSELS (Reuters) - European Union climate and energy bosses launched two projects on Monday designed to unleash more than a billion euros ($1.1 billion) of spending on measures to save energy and adapt to climate change. The pilot projects will help to prove that a much bigger Commission scheme to turn 21 billion euros of EU and European Investment Bank funds (EIB) into at least 315 billion euros of public and private sector investment can work, the Commission says. First presented in November by Commission President Jean-Claude Juncker, the European Fund for Strategic Investment is meant to act as a "risk buffer", soaking up losses on projects before other creditors and breaking down a reluctance to invest. One of the pilot projects presented on Monday that will run until 2017 is the Private Finance for Energy Efficiency scheme.
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