PJ / COENV / PL1 European Investment Bank EUROPEAN INVESTMENT BANK Promoting European objectives Structural Programme Loans Wednesday 6 th October 2010 Sebastian Hyzyk

PJ / COENV / PL2 European Investment Bank EIBs role in promoting EU Regional Policy Outline EU Regional Policy implementation from the Banks perspective Structural Programme Loans Project examples (SPLs) Summary

PJ / COENV / PL3 European Investment Bank EU Regional Policy implementation Over EUR 347bn of EU Funds available for regions in the context of Cohesion policy: European Regional Development Fund European Social Fund Cohesion Fund Cohesion Policy implemented through the NSRF and Operational Programmes Decentralisation – Member States and Regions

PJ / COENV / PL4 European Investment Bank EU Regional Policy implementation EIB provides long-term finance for projects promoting European objectives to Member States, regions and other beneficiaries, by developing financial engineering, blending grants with loans through programme oriented product (Structural Programme Loan) and through direct Investment Loans for large projects

PJ / COENV / PL5 European Investment Bank Structural Programme Loans Framework Loan (FL) flexible instrument to finance multi-scheme operations Structural Programme Loan (SPL) FL co-financing Structural Funds

PJ / COENV / PL6 European Investment Bank Structural Programme Loans Why SPL? to deal with operations (programmes) where individual schemes may not be known a priori Specific feature: appraisal focusing on institutional capacity, quality of the programme and capacity of the promoter

PJ / COENV / PL7 European Investment Bank Structural Programme Loans SPL categories: regional multi-regional national sectoral

PJ / COENV / PL8 European Investment Bank Structural Programme Loans Large projects in the SPL operations: project cost above EUR 50m some 900 expected require separate EIB appraisal benefit from JASPERS assistance or EIB TA

PJ / COENV / PL9 European Investment Bank Structural Programme Loans In , Banks approved of EUR 4.8 bn of SPL operations equivalent to EUR 75 bn of investment costs In the on-going programming period the Bank has already approved EUR 16.2 bn, corresponding to EUR bn of investment costs On average the Bank supports 11% of the project costs Signatures with BG, CZ, DE, EE, EL, ES, HU, IT, LV, LT, PL, RO, SL

PJ / COENV / PL10 European Investment Bank Structural Programme Loans Summary of experience: SPL - a flexible financial instrument Common in new Member States in Central and Eastern Europe as well as in Southern Italy Experience in a number of countries and regions TA available in the form of JASPERS and on specific demand (i.e. Bulgaria) Financial engineering instruments: JEREMIE, JESSICA, etc.

PJ / COENV / PL11 European Investment Bank Project examples - Greece EU Funds Co-financing – Greece Project cost: EUR bn Loan amount: EUR 2.0bn (9%) Duration of loan: 25 years Borrower/Promoter: Hellenic Republic Implementation period:

PJ / COENV / PL12 European Investment Bank Project examples - Greece EIB framework loan will support the implementation of the Greek National Strategic Reference Framework : OP Environment and Sustainable Development OP Competitiveness and Entrepreneurship OP Digital Convergence OP Development of Human Resources OP Education and Lifelong Learning 5 regional OPs PATHEP Railway Corridor

PJ / COENV / PL13 European Investment Bank Project examples - Greece Benefits: SPL will cater to the recovery and sustainable development of the Greek economy acceleration of implementation EU Funds absorption crucial for the Greek economy EIB TA assistance, in particular in challenging sectors such as water and waste management synergies with JEREMIE and JESSICA

PJ / COENV / PL14 European Investment Bank Project examples - Hungary Regional operational programmes Project costs: EUR 3.9 bn Loan amount: EUR 450 m Duration of loan: 25 years Promoter: Ministry of Finance / National Development Agency Implementation period:

PJ / COENV / PL15 European Investment Bank Project examples - Hungary Support for Operational Programmes of 4 Hungarian regions: Central Hungary, West Pannon, Central Transdanubia, North Hungary Strong points: Adaptation to climate change RDI investments Multiregional project feasible due to the centralised governing structures

PJ / COENV / PL16 European Investment Bank Summary EIB role classic – leveraging EU funds upstream – project preparation JASPERS implementation – EIB TA/JASPERS proactive – macroregional strategies and Europe 2020 promoters capacity is crucial and could be enhanced by Technical Assistance

PJ / COENV / PL17 European Investment Bank THANK YOU Sebastian Hyzyk Project Directorate COENV Department Programme Lending Division