1. European Investment Bank Group
Investment Plan for Europe Partnership of EC and EIB to establish the European Fund for Strategic Investments (EFSI)
Maria Shaw-Barragan Head of Strategy Division Commission for Territorial Cohesion Policy and EU Budget
Committee of the Regions
Brussels, 2nd March 2015
02/03/2015
European Investment Bank Group

2. Investment Plan for Europe: context
The Investment Plan for Europe consists of three strands:
Regulatory and structural reforms at EU and national levels to create a friendlier investment environment
Enhanced EIB-EC-MS cooperation on project identification (the task force) and stepped-up technical assistance
The EFSI, to allow the EIB to better address the current shortage of (higher) risk-financing in EU
Aim: to mobilise at least €315 billion in investment across the EU
02/03/2015
European Investment Bank Group

3. Every piece of the puzzle counts
02/03/2015
European Investment Bank Group

4. Pipeline of viable projects
Task Force EC-EIB-Member States:
Member States were asked to identify potentially viable projects of European relevance to be realised in the short and medium term
Identified around 2,000 projects across Europe worth some EUR 1.3 trillion of potential investments
Outcome: a forward-looking and transparent pipeline of investable projects.
Purpose: to restore confidence and encourage investors to invest and build expertise in Europe
No automatic financing by EC or the EIB for these projects
02/03/2015
European Investment Bank Group

5. What is the EFSI (European Fund for Strategic Investments)?
Legal format:
contractual arrangement EC & EIB - no separate legal entity
EU guarantee in favour of EIB
All operations are EIB Group operations
EFSI governance:
Steering Board
Investment Committee
Managing Director
EIB governing bodies will approve each transaction.
EIF governing bodies approve operations in the SME Window
Possibility for third parties to participate in the EFSI in different ways (Member States, National Promotional Banks, private sector entities)
02/03/2015
European Investment Bank Group

6. European Fund for Strategic Investments (EFSI)
02/03/2015
European Investment Bank Group

7. Delivering on the 2013 capital increase to EIB
In Jan 2013 – EUR 10 bn of additional paid-in capital to enable additional lending of EUR 60bn from 2013 to 2015
180 billion mobilised by March 2015, ahead of December 2015 target
02/03/2015
European Investment Bank Group

8. Mobilising new investment
EFSI
EIB
Group
02/03/2015
European Investment Bank Group

9. European Investment Bank Group
Eligible sectors
Wide eligibility criteria - Operations consistent with Union policies that support any of the following general objectives:
development of infrastructure including in transport, telecommunications, digital and energy infrastructure; infrastructure projects in the environment, natural resources, urban development and social fields
research and development and innovation
investment in education and training, health, information and communications technology
develop and modernise the energy sector, renewable energy, security of energy supply and energy and resource efficiency;
financial support for mid-cap companies and SMEs.
EIB in charge of verifying that eligibility criteria are properly applied
02/03/2015
European Investment Bank Group

10. Eligible counterparts
Corporates of all sizes
Utilities
Public sector entities
SMEs (below 250 employees) or MidCaps (below 3,000 employees)
NPBs or commercial banks for intermediation
Dedicated investment platforms possible
EIB normal “know your customer” and compliance requirements
02/03/2015
European Investment Bank Group

11. European Investment Bank Group
Eligible operations
Commercially sound
Economically and technically viable
Added value (additionality)
Investments boosting employment and growth
Bank intermediation is possible
Provide risk-bearing capacity to foster the implementation of additional projects and to support the development of SMEs and MidCaps
02/03/2015
European Investment Bank Group

12. How will the EFSI operate?
All operations are EIB or EIF operations
EIB and EIF normal appraisal and processes apply
EIB governing bodies approve every operation
If you know the EIB, get in touch with your normal contact
If you do not, go on EIB’s website and find the individual in the Operations Department responsible for the Member State where the project is located or where your company is located
If in doubt, check out the EIB web page or contact the InfoDesk
02/03/2015
European Investment Bank Group

13. European Investment Bank Group
SME Window
EUR 2.5bn provided by EIB
EUR 2.5bn guarantee cover provided by EU
- Accelerated and additional financing support to SMEs and mid-caps
- Removing market gap
EUR 75bn of investments in SMEs and mid-caps
02/03/2015
European Investment Bank Group

14. Operational preparation European Investment Bank Group
Next steps
Jan. 2015
March 2015
June 2015
Mid 2018
EU law-making process
Agreement on draft Regulation
Fast-track approval by EU legislators
Entry into force
Progress review and further options considered
Operational preparation
and
follow-up
European Investment Bank starts activities using own resources
The EFSI is operational
A transparent EU project pipeline is in place The Investment Advisory Hub starts functioning
Project identification continues, also based on Task-Force report
Work starts on building
Investment Advisory Hub
02/03/2015
European Investment Bank Group

15. European Investment Bank Group
Q & A … Thank you!
02/03/2015
European Investment Bank Group