Investment Plan for Europe Delivering on the European Fund for Strategic Investments (EFSI) 2016 European Investment Bank Group 1
Why an Investment Plan for Europe? Investment & competitiveness gap EU Investment Plan • EU and Member High liquidity in the market State policy action • EU budget guarantee • EIB capacity to Public budget constraints mobilise additional investment Financial and non-financial barriers to investment 2
3 ways to tackle the investment gap Investment Plan for Europe Create an investment Give investment Mobilise finance for friendly environment advice investment • Improving the • • European Fund for European Investment regulatory Advisory Hub Strategic Investments environment • • Cooperation with European Investment • Structural reforms Project Portal National Promotional Banks Aim: to mobilise at least € 315 billion in investment across the EU 3
EFSI setup and governance EIB EFSI Group All EFSI operations are within the EIB Group (EIB&EIF) • On the EIB’s 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 by a Managing Director Operations already started in spring 2015 4
Mobilising new investment 5
Making a difference Our value added Addressing Financing Absorbing part of market failures or operations not the risk to trigger sub-optimal possible to same additional investment extent otherwise investments situations Impact orientation Attracting other Maximising Supporting sources of growth employment finance 6
With targeted products Continuously adapting to market needs 7
Key areas Targeting strategic public and private investment • Infrastructure : including transport, energy and digital • Innovation : Education and training, health, research, development and innovation • 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 8
Who can benefit? Eligible counterparts SMEs Utilities and Corporates of all (up to 250 public sector sizes employees) or entities midcaps (non-sovereign) (up to 3 000) Contact EIB Group directly National via InfoDesk or Dedicated Promotional relevant Investment Banks or other Operations Platforms banks for Department intermediation www.eib.org www.eif.org 9
What kind of operations? Operations need to be: • Commercially sound, economically and technically viable • Underpin EFSI objectives • Support growth and jobs • Mature enough to be bankable • Priced in a manner commensurate with the risk taken • Covering EU28 countries or cross-border operations 10
EFSI scoreboard 11
EFSI reporting 12
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 13
Combining EFSI and other funding EU Structural and Investment Fund programmes can contribute to the Investment Plan objectives and complement EFSI support These may join EFSI-supported projects where this would ensure a higher value added 14
Financing step-by-step 15
SME financing under EFSI 16
What is the Advisory Hub? A joint initiative by the European Commission and the European Investment Bank A tool to strengthen Europe's investment and business environment A single access point to a 360 degree offer of advisory and technical assistance services A cooperation platform to leverage, exchange and disseminate expertise An instrument to assess and address unmet needs for advisory support 17
More than just finance - investment support DEMAND Public authorities Member States Private sector Project promoters Access point Web content + Web portal + Support team European Investment Advisory Hub Existing advisory Additional advisory and EIAH’s partner programmes and activities technical assistance institutions’ expertise Delivery channels Project support throughout the New investment support also Network of institutions incl. project cycle in areas relevant to the scope EIB Group, European of EFSI (could be delivered by Commission , National Support to Financial EIB advisory or operational Promotional Banks, etc. instruments teams) Integrated collaboration model Enhance access to finance Identification of needs as they arise SUPPLY 18
A 360 degrees advisory offer TYPE OF SUPPORT DESCRIPTION PROGRAMMES Support for projects and Advisory and technical support in JASPERS, ELENA, EPEC, identification, prioritisation, preparation, Implementation support investments structuring and implementation of programmes investment projects Enhance use of EU funds Advisory and capacity building support in fi-compass, bilateral services the implementation of ESIF financial to Managing Authorities instruments Access to finance Enhancement of the overall conditions for Innovation Finance Advisory financing for public and private beneficiaries Advisory and technical support from the Access to the expertise of Hub’s local network the Hub’s local partners Continuous development of the Hub’s Access to new advisory advisory offer to address unmet needs services 19
Would you like to know more? Consult the Hub’s www.eib.org/eiah advisory offer Request support from www.eib.org/eiah/contact the Hub Contact the Hub for eiah@eib.org more info 20
First operations financed Financing for a French SME guarantee pioneering programme agreement EUR 400m to Unlocking EUR trigger energy 100m of loans for efficiency investments 1 000 SMEs in in private homes Bulgaria Driving clean For energy Backing Supporting energy efficient midcap smaller investment buildings modernisation businesses Equity-type financing Funding cutting-edge for an innovative fund steel production facilities in Italy EUR 75m for EUR 100m for investment in offshore wind, biomass and innovative and transmission projects competitive steel products in Denmark 21
First EIB operations financed Driving clean energy investment EIB participation in an innovative fund is mobilising some Equity-type financing EUR 2bn of for an innovative fund EUR 75m for investment in offshore investment in offshore wind, biomass and wind, biomass and transmission projects in transmission projects Denmark 22
First EIF operations financed Supporting smaller businesses An EIF guarantee agreement is helping Equity-type financing to unlock EUR 100m for an innovative fund of loans for some EUR 75m for 1 000 SMEs in investment in offshore wind, biomass and Bulgaria transmission projects 23
Results dashboard (EIB group) (as of 10 March) 24
EIB operations under EFSI (1/2) 54 projects approved for financing under EFSI - total financing amount EUR 7.2bn Total expected investment related to EFSI over EUR 30bn 37 operations approved by the European Commission or the Investment Committee Total signatures close to EUR 3bn (EUR 145m equity type) EFSI multiplier can only be calculated at the end of the investment period, anticipated multiplier effect of EIB Board approved transitional operations is close to target of 15 25
EIB operations under EFSI (2/2) Building the EFSI pipeline ongoing and of high priority Focus on business development by exploring new market segments and targeting new clients based on added value notably in terms of catalytic effect to ensure that the EFSI volume targets for the period 2015 - 2018 Further efforts to accelerate new products, collaboration with National Promotional Banks as well as the setting-up of Investment Platforms 26
Timeline and investment period 2015 2016 2017 2018 2019 2020 4 July 4 July 30 June 4 July 1st 2 nd Deadline deadline deadline for Entry into Third anniversary for for approval of force of of signing the signature signature EFSI EFSI EFSI Regulation of EFSI of EFSI Operations Regulation operations Operations “ Extended” investment period Investment period to achieve EUR 315bn of total investments EFSI operations to target EUR 315bn of total investment by 2018 Actual investment period runs until 30 June 2020 27
Thank you! 28
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