Investment Plan for Europe Delivering on the European Fund for Strategic Investments (EFSI) 2016 January 2016 European Investment Bank Group 1 Investment gap and persisting low growth in Europe Real GDP per capita (in purchasing-power and inflation adjusted international dollar, 2013) Estimates of potential growth (in percent) 2 1 50,000 40,000
0 2007 2008 2009 2010 Source: European Commission, AMECO 2011 2012 2013 Average annual Total Factor Productivity growth (in percent) 2 2 2000-2006 2000-2006 2007-2013
2007-2013 1.51.5 1 1 30,000 0.50.5 EU Japan 0 0 US -0.5 -0.5 20,000 19 90 19 92 19
USUS South J J South K...K...EUEU EUEU N...N... EUEU S...S... EUEU Source: The Conference Board; EU North = AT, BE, DE, DK, FI, FR, IE, LU, NL, SE, UK; EU South = CY, ES, IT, GR, MA, PT; EU East = BU, CZ, EE, HU, LT, LV, PL, RO, SI, SK 2 Why an Investment Plan Europe? Investment & competitiveness gap EU Investment Plan High liquidity in the market Public budget constraints Financial and non-financial barriers
to investment EU and Member State policy action EU budget guarantee EIB capacity to mobilise additional investment 3 3 ways to tackle the investment gap Investment Plan for Europe Mobilise finance for investment European Fund for Strategic Investments (EFSI) Cooperation with National Promotional Banks Support investment in real economy
European Investment Advisory Hub (EIAH) European Investment Project Portal (EIPP) Create an investment friendly environment Improving the regulatory environment Structural reforms Aim: to mobilise at least 315 billion in investment across the EU 4 European Fund for Strategic Investments (EFSI) 24/03/201 5 5
EFSI setup and governance EFSI All EFSI operations are within the EIB Group (EIB&EIF) On the EIBs balance sheet (no separate entity) Subject to standard due diligence EIB & EIF governing bodies approve each operation Additional EFSI governance: Steering Board Investment Committee, headed-up by a Managing Director Operations already started in spring 2015 EIB Group Making a difference Additionality our value added Address market failures or suboptimal investment situations Finance operations
not possible to same extent without EFSIbacking Absorb part of the risk to trigger additional investments Impact Attracting other sources of finance Maximising growth Supporting employment creation and retention 7 Key areas Targeting strategic investment by public and private entities
Infrastructure, including transport, energy and digital Innovation: Education development and training, health, research, Renewable energy: Expansion of renewable energy generation and support of energy and resource efficiency Environment: Projects in the environmental, urban development and social fields SMEs and midcaps: Financing support through local partner banks and institutions With targeted products Continuously adapted to market needs 6 EFSI Eligibility criteria
11 Opportunities for promoters/investors EU Member States, National Promotional Banks, Investment Platforms and private sector can participate in different ways : Projects Co-financing/ Risk-sharing with EIB/ EIF Investment Platforms Pooling of projects with thematic or geographic focus Agreement or Fund Can benefit from EU guarantee via EIB Cooperation with EU National Promotional Banks More than just finance - investment support DEMAND Delivery channels Access point
Project promoters Public authorities Member States Private sector Web content + Web portal + Support team European Investment Advisory Hub Existing advisory programmes and activities Project support throughout the project cycle Support to Financial instruments Enhance access to finance Additional advisory and
technical assistance New investment support also in areas relevant to the scope of EFSI (could be delivered by EIB advisory or operational teams) Identification of needs as they arise EIAHs partner institutions expertise Network of institutions incl. EIB Group, European Commission , National Promotional Banks, etc. Integrated collaboration model SUPPLY
18 EIB Group operations under EFSI EUROPEAN FUND FOR STRATEGIC INVESTMENT IN 2015 APPROVED AND/OR SIGNED PROJECTS TOTAL FINANCING UNDER EFSI MOBILISING TOTAL INVESTMENT OF EIB 42 Projects EUR 5.7bn EUR 25bn EIF 84 Operations
EUR 1.8bn EUR 25bn 8 Results dashboard as at 22/01/2016 14 Thank you! 15
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