EFSI in South West Romania Craiova, 10/03/2017 1 Investment gap - - PowerPoint PPT Presentation

Investment Plan for Europe

European Fund for Strategic Investments (EFSI)

• perational implementation

and takeaways for Romania

‘EFSI in South West Romania’ Craiova, 10/03/2017

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Investment gap in the EU

2 2,533 2,683 2,687 2,668 2,663 2,747 2,845 3,017 3,199 3,116 2,674 2,706 2,756 2,708 2,650 2,731 2,868 2,918 3,027 3,019 2200 2400 2600 2800 3000 3200 3400 1999 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018

Real gross fixed capital formation (GFCF) in EU28 in 2015 prices, € bn

GFCF historical norm (range 21-22% of GDP) Baseline/forecast

forecast

Investment gap in the EU

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Notes:

“Core” includes Austria, Belgium, Germany, Denmark, Finland, France, Luxembourg, the Netherlands, Sweden and the UK; “Vulnerable Member States - VMS” includes Cyprus, Greece, Spain, Ireland, Italy, Slovenia and Portugal; “Cohesion” includes Bulgaria, the Czech Republic, Estonia, Croatia, Hungary, Lithuania, Latvia, Malta, Poland, Romania and Slovakia. EIB publication « Investment and Investment Finance in Europe 2016 », 17 November 2016 http://www.eib.org/infocentre/publications/all/investment-and-investment-finance-in-europe-2016.htm

European Fund for Strategic Investments (EFSI)

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EFSI setup and governance

All EFSI operations are within the EIB Group (EIB&EIF)

• On the EIB / EIF balance sheet (no separate entity)
• Subject to standard due diligence
• EIB & EIF governing bodies approve operations

Additional EFSI governance:

• Steering Board
• Investment Committee (IC), chaired by

Managing Director / Deputy Managing Director

• IC approves inclusion of individual operations to the

Infrastructure and Innovation Window (IIW) implemented by the EIB EFSI EIB Group EFSI Regulation, approved by the EP Governance structure:

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EFSI Objectives - Eligible areas

The operations concerned shall be consistent with Union policies and support any of the following general objectives:

(a) research, development and innovation: projects that are in line with Horizon 2020, education

and training, health, demonstration projects, research infrastructure

(b) development of the energy sector in accordance with the Energy Union priorities, including security of energy supply, and the 2020, 2030 and 2050 climate and energy frameworks: renewable energy, energy efficiency and energy savings, development and

modernization of energy infrastructure

(c) development of transport infrastructures, and equipment and innovative technologies for transport (d) financial support through the EIF and the EIB to entities having up to 3 000 employees, with a particular focus on SMEs and small mid-cap companies: (Financing

support through local partner banks and institutions)

(e) development and deployment of information and communication technologies:

digital content & services, broadband networks

(f) environment and resource efficiency (g) human capital, culture and health

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With the aim to explore and attract new promoters and markets (e.g. MidCaps). Making better use of scarce public resources, diverting them from grants / subsidies to loans guarantees, enhancing the multiplier effect of investment. The EIB Group is developing various new products

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Projects Eligibility Criteria

• The Scoreboard is rated for each operation.
• Pillars are evaluated independently (no accumulated score).
• The EU Eligibility, Quality and Value Added of each operation shall be ensured.
• Pillar 1:

Contribution to EFSI objectives

• EFSI general
• bjectives
• EFSI key policy
• bjectives
• Pillar 2:

Quality of the Project

• Growth
• Capabilities
• Sustainability
• Employment

+

• Pillar 3:

Technical and Financial Contribution

• Financial

contribution

• Facilitation
• Advice

+

• EFSI Scoreboard – Key Components
• Pillar 4:

Complementary Indicators

• Macro-economic

indicators

• Multiplier effect
• Finance mobilised
• Cooperation

+

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Making a difference

Additionality

Address market failures or sub-

• ptimal investment

situations Risk profile Special Activity / operations not possible to same extent without EFSI Absorb part of the risk to trigger additional investments

Impact

Attracting other sources of finance Accelerate viable projects Support productivity, growth and employment

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Opportunities for promoters/investors

• EFSI is demand driven, and will provide support for projects everywhere in the EU.
• There are no geographical nor sectoral quotas. Projects will be considered based
• n their individual merits.

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Corporates of all sizes Utilities and public sector entities (non-sovereign)

SMEs (up to 250 employees) or midcaps (up to 3 000)

Eligible counterparts

EIB Group directly via InfoDesk or relevant Operations Department www.eib.org www.eif.org

Contact

National Promotional Banks or other banks for intermediation

Dedicated Investment Platforms

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Investment plan for Europe in Romania (signed or approved operations)

• EIB (Innovation & Infrastructure Window)
• Agricover loan for SMEs for EUR 15m, mobilising EUR 54m investments
• Arcelor Mittal European R&D Programme
• Digital Television Transition for EUR 10m, mobilising EUR 20m investments
• Transgaz Interconnection Project for EUR 100m, mobilising close to EUR 300m investment
• Romania Regional Water Programme Loan for EUR 100m.
• EIF (SME Window)
• 3 transactions totalling EUR 32m and which mobilise over EUR 300m total investments

Thank you!

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