THE INVESTMENT PLAN FOR EUROPE EUROPEAN FUND FOR STRATEGIC - - PowerPoint PPT Presentation

THE INVESTMENT PLAN FOR EUROPE

EUROPEAN FUND FOR STRATEGIC INVESTMENTS (EFSI) EUROPEAN INVESTMENT ADVISORY HUB (EIAH) EUROPEAN INVESTMENT PROJECT PORTAL (EIPP) IMPROVED INVESTMENT ENVIRONMENT

• European economic context
• Investment trends
• The Investment Plan for Europe: key features and status
• Pillar 1. Mobilising finance for investment
• Pillar 2. Making finance reach the real economy
• Pillar 3. Improved Investment environment

Agenda

2

• The European economy is in its fourth year of recovery. Economic growth is

expected to remain modest as key trading partners' performance has slowed and some of the so far supportive factors start to wane.

• Very accommodative monetary policy has set the scene for a pick-up in

investment by making access to funding easier and cheaper. Fiscal policy in the euro area is expected to be supportive of growth this year.

• Although oil prices fell again in early 2016, this support should gradually fade as

the oil price rebounds. Although euro area exports are still benefiting from the euro‟s past depreciation, the currency‟s recent rise could make the euro area more susceptible to the effects of slower external growth.

• The moderate pace of improvement in labour markets is expected to continue.

EU unemployment is expected to fall from 9.4% in 2015 to 8.9% in 2016 and 8.5% in 2017.

• The economies of all Member States are expected to expand next year, but

growth is still expected to remain uneven across the EU.

• Euro area GDP growth: 1.7% in 2015; expected 1.6% in 2016 and 1.8% in 2017
• EU28 GDP growth expected to moderate from 2.0% last year to 1.8% in 2016

before reaching 1.9% in 2017.

Source: European Commission, Spring Economic Forecast, May 2016

EU economic context

3

EU economic growth

EU GDP growth 2016 (forecast) EU GDP growth 2012

Source: European Commission, Spring Economic Forecast, May 2016

4

Sustaining and strengthening the economic recovery:

• 1. boost investment
• 2. pursue responsible public finances
• 3. structural reforms to enhance competitiveness.

EU economic policies

5

EU investment (private/public) trend

6

Investment gap: EIB analysis

• Productivity growth in EU < US since mid-1990s
• Additional investment estimated by EIB:

+ € 130bn/y in R&D to meet EU target of 3% of GDP

+ € 100bn/y to upgrade Energy networks + € 80bn/y to upgrade Transport networks + € 65bn/y to reach EU Digital Agenda standards + € 10 bn/y for state-of-the-art Education facilities + € 90 bn/y to rehabilitate Environmental services and Water

+ € 35bn/y in VC financing to match US levels of VC/GDP

• Most of these needs have to be translated into concrete investment

projects:

• Structural reforms, Policies to address market inefficiencies, Advisory, Risk-

taking.

Source: EIB, "Restoring EU competitiveness", Jan-2016

7

Why an Investment Plan for Europe?

Investment & competitiveness gap High liquidity in the market Public budget constraints Financial and non-financial barriers to investment Investment Plan for Europe

• EU and Member State policy

action

• EU budget guarantee
• EIB capacity to mobilise

additional investment

8

• Mobilise at least €315bn over 3 years for strategic

investments and access to finance via the European Fund for Strategic Investments (EFSI) within EIB/EIF

• Cooperation with National Promotional Banks
• 1. MOBILISING FINANCE

FOR INVESTMENT

• European Investment Project Portal (EIPP)
• European Investment Advisory Hub (EIAH)
• 2. MAKING FINANCE

REACH THE REAL ECONOMY

• Predictability and quality of regulation
• Removing non-financial, regulatory barriers

in key sectors within EU Single Market

• Structural reforms at national level
• 3. IMPROVED INVESTMENT ENVIRONMENT

The 3 pillars of the Investment Plan for Europe

9

• 1. European Fund for Strategic Investments (EFSI)

EFSI risk-bearing capacity € 21 bn EIB / EIF financing  € 61 bn Investments value over 3 years (mid 2015-mid 2018)  € 315 bn EU Budget Guarantee EIB Own resources Infrastructure & Innovation window SME window Other financiers (private sector, NPBs,...) x3 x5

10

EFSI value added: making a difference

Addressing market failures or sub-optimal investment situations Financing

• perations not

possible to same extent otherwise Absorbing part of the risk to trigger additional investments Enhancing growth Supporting employment Attracting other sources of finance

Impact orientation

11

European Fund for Strategic Investments

12

Examples of EFSI operations

Equity-type financing for an innovative fund

EUR 75m for

investment in offshore wind, biomass and transmission projects in Denmark Funding cutting-edge steel production facilities in Italy

EUR 100m for

innovative and competitive steel products Financing for a French pioneering programme

EUR 400m to

trigger energy efficiency investments in private homes SME guarantee agreement Unlocking EUR

100m of loans for

1 000 SMEs in Bulgaria

Driving clean energy investment Backing midcap modernisation For energy efficient buildings Supporting smaller businesses

13

Example of EFSI operation financed by EIB

Equity-type financing for an innovative fund

EUR 75m for

investment in offshore wind, biomass and transmission projects

Driving clean energy investment EIB participation in an innovative fund is mobilising some EUR 2bn of investment in offshore wind, biomass and transmission projects in Denmark

14

Example of EFSI operation financed by EIF

Equity-type financing for an innovative fund

EUR 75m for

investment in offshore wind, biomass and transmission projects

Supporting smaller businesses An EIF guarantee agreement is helping to unlock EUR 100m

• f loans for some

1 000 SMEs in Bulgaria

15

EFSI type of instruments

Continuously adapting to market needs

16

EFSI setup and governance

All EFSI operations are financed by the EIB Group (EIB&EIF)

• On the EIB Group‟s balance sheet (no separate entity)
• Subject to standard due diligence
• EIB & EIF governing bodies approve each operation

EFSI governance:

• Steering Board
• Investment Committee, headed by a Managing Director

Operations already started in spring 2015 EFSI EIB Group

17

Operations to be consistent with EU policies and to support any of the general objectives:

• 1. Research, development and innovation
• 2. Energy (ref. Energy Union priorities)
• 3. Transport
• 4. Information and Communication Technologies
• 5. Environment and resource efficiency
• 6. Human capital, culture and health
• 7. Support to SMEs and mid-cap companies, through local

partner banks and institutions

EFSI key areas

18

• Focus on investments in real economy
• Results on growth and jobs
• Market-driven, no political interference
• No geographic or sector pre-allocation
• Leverage / crowd-in private sector and third parties
• Economic and technical viability
• Additionality
• Market failures and sub-optimal investment
• Higher risk-taking than EIB normal activity in EFSI timeframe
• Pricing in line with EIB policies

Key features of EFSI

19

Size of investments

• EIB uses min €25m for individual loans
• Smaller schemes can be grouped into framework loans
• No size restriction for operations via Fin. Intermediaries (e.g. for SMEs)

Geographic scope

• EU28
• Projects involving an entity in a MS and extending to Enlargement

(Western Balkans, Turkey), EU East/South Neighbourhood, EEA/EFTA (Norway, Switzerland, Liechtenstein), Overseas Countries and Territories.

Key features of EFSI

20

Who can benefit?

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

21

EFSI Infrastructure & Innovation financing: step-by-step

22

EFSI SME financing

23

• Pooling of projects with thematic or geographic focus
• Flexible form: co-financing agreement, SPV, Fund, etc.
• Useful to pool small projects
• Can benefit from the EU Guarantee via the EIB
• Cooperation with EU National Promotional Banks (NPBs)
• Rules on operations with NPBs and Investment Platforms

approved Guidance brochure by the Commission and the EIB available at http://ec.europa.eu/economy_finance/financial_operations/documents /efsi_rules_applicable_to_operations_en.pdf Interest by institutional investors, third countries and Sovereign Wealth Funds

EFSI investment platforms

24

• MS may use EU funds to co-finance EFSI projects.
• ESIF (European Structural and Investment Funds) programmes

may contribute to the achievement of the objectives of the Investment Plan and be complementary to EFSI support, so as to ensure higher value-added and leverage:

• at Project level
• at Investment Platform level
• Guidance Brochure by the Commission available at

ec.europa.eu/regional_policy/sources/thefunds/fin_inst/pdf/efsi_esif_ compl_en.pdf

EFSI in combination with EU funds

25

EFSI scoreboard

26

EFSI: next steps

26

• Building the EFSI pipeline -> high priority
• Further

efforts to accelerate new products and setting-up Investment Platforms

• Proposal to extend EFSI 2.0 until end 2020
• Mobilize at least € 500bn
• Link to COP21 targets
• Reinforce additionality
• Enhance geographical coverage - cross-border projects
• Reinforce technical assistance

Transparency on investments in Europe European Investment Project Portal (EIPP) - www.ec.europa.eu/eipp

• Matching investment opportunities proposed by project promoters

with investors' interest.

• Live as of June 2016.

Strengthening advisory services European Investment Advisory Hub (EIAH) by EC/EIB www.eib.org/eiah

• Technical assistance.
• Pooling Commission and EIB resources & expertise including from

MS.

• 2. Making finance reach the real economy

28

European Investment Project Portal

ec.europa.eu/eipp

• Bridge between EU's investment opportunities and potential investors.
• A web portal that enables EU-based project promoters (public and private

authorities) to share their investment proposals seeking external financing, in a transparent way.

• Investors can search for opportunities across Europe (size, sector,

geography).

• Project promoters may submit projects @ ec.europa.eu/eipp
• Publication of a project is free for public entities.
• More than 100 projects already published on the Project Portal (as of end of

August 2016)

29

EIPP – eligibility criteria

EIPP projects should:

• 1. have a minimum size of EUR 10 million;
• 2. fall within one of the sectors/areas listed in Article 9(2) of Regulation (EU)

2015/1017;

• 3. be compatible with Union law and the law of the relevant Member State;
• 4. be expected to start within three years from submission to EIPP;
• 5. project promoter should be a legal entity established in an EU Member State

(individuals cannot submit EIPP projects); and

• 6. publication of a project can be denied if the information is inaccurate or if its

publication may entail legal or reputational risks for the European Commission or the Member States, or both.

30

EIPP Find projects

31

18

European Investment Advisory Hub (EIAH)

Project promoters Public authorities Member States Private sector

DEMAND

• Project support throughout the

project cycle

• Support to Financial

instruments

• Enhance access to finance

Existing advisory programmes and activities

European Investment Advisory Hub

• New investment support also

in areas relevant to the scope

• f EFSI (could be delivered by

EIB advisory or operational teams)

• Identification of needs as they

arise

• Network of institutions incl.

EIB Group, European Commission , National Promotional Banks, etc.

• Integrated collaboration model

Additional advisory and technical assistance EIAH’s partner institutions’ expertise

SUPPLY

Web content + Web portal + Support team

Access point Delivery channels

32

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 joint initiative by the European Commission and the European Investment Bank A cooperation platform to leverage, exchange and disseminate expertise An instrument to assess and address unmet needs for advisory support

What is the European Investment Advisory Hub (EIAH) ?

33

EIAH: a 360 degrees advisory offer

TYPE OF SUPPORT DESCRIPTION EXISTING PROGRAMMES EIAH SERVICES Support for projects and investments Advisory and technical support in identification, prioritisation, preparation, structuring and implementation of investment projects JASPERS, ELENA, EPEC, Implementation support programmes Additional Technical Assistance support to the already existing technical assistance services provided to project promoters and managing authorities to develop economically and technically viable projects as well as improve the use

• f EU funds.

New advisory services: Continuous development of the Hub‟s advisory

• ffer to address unmet needs

Enhance use of EU funds Advisory and capacity building support in the implementation of ESIF financial instruments fi-compass, bilateral services to Managing Authorities Improve access to finance Enhancement of the overall conditions for financing for public and private beneficiaries Innovation Finance Advisory Access to the expertise of the Hub’s local partners Advisory and technical support from the Hub‟s local network The Advisory Hub is also expected to coordinate a network of National Promotional Institutions and Managing Authorities. Together, the Hub‟s partners can deliver a comprehensive and complete advisory services offer.

34

Private companies

• EFSI Individual projects: request financing to EIB Group
• EFSI Investment Platforms: submit projects for financing
• EIAH: request advisory / technical assistance for projects
• EIPP: submit projects to the Portal to attract investors

Investors and financing institutions

• EFSI Individual projects: cofinancing with EIB
• EFSI Financing to SMEs: request guarantee to EIF or credit line to EIB
• EFSI Risk capital for Start-ups/SMEs: request equity financing to EIF
• EFSI Investment Platforms: act as sponsor/financier
• EIPP: explore opportunities to finance investments in Europe

Opportunities for third parties

35

Third countries / sovereign investors

• Understand opportunities of the Investment Plan for Europe
• Exchange of views / learning
• Enhance investment policies at country/regional/global level
• Explore possibility to cofinance EFSI projects with EIB Group
• individual projects
• Investment Platforms: portfolio approach
• Promote EIAH and EIPP with stakeholders in third country

Opportunities for third parties

36

20

EIAH: would you like to know more?

Consult the Hub’s advisory offer Request support from the Hub Contact the Hub for more info www.eib.org/eiah eiah@eib.org www.eib.org/eiah/contact

37

• Better and more predictable regulation at all levels
• Making most of the Single Market
• Structural reforms in the Member States
• Openness to international trade and investment
• 3. Improved Investment environment

38

Single Market Strategy

• Support start-ups, remove barriers to firms and services

Energy Union

• Transition to low-carbon economy (RE/EE), energy market,

interconnections.

Digital Single Market

• Level playing field, improved access to digital goods and services,

harmonisation of rules

Capital Markets Union

• Reduce fragmentation, reduce cost of funding esp for SMEs, amend

Solvency II

Single European Transport Area

Making most of EU Single market

39

Structural reforms in Member States

Annual Growth Survey (EC, Nov-2015) – country fiches on MS investment challenges, to be reviewed in European Semester 1) Public administration / business environment

• Regulatory barriers and administrative burden; Public administration; Public procurement

/PPPs;

• Judicial system; Insolvency framework; Competition and regulatory framework

2) Labour market / education

• Employment protection legislation & framework for labour contracts
• Wages & wage setting; Education, skills, lifelong learning

3) Financial sector / taxation

• Taxation; Access to finance

4) Research, development and innovation

• Cooperation between academia, research and business ; Financing of R&D&I

5) Sector specific regulation

• Business services / Regulated professions ; Retail; Construction; Digital Economy /ICT;

Energy; Transport

40

Status

• EFSI regulation entered into force in Jul-15.
• Guidance on ESIF/EFSI combination; Rules for Investment

Platforms/NPBs approved in Feb-16.

• EIAH operational since Sep-15.
• EIPP launched in Jun-16.

Next steps

• Make full use of instruments: EFSI, ESI Funds, EIAH, EIPP.
• Reinforced EFSI after mid-2018.
• EFSI SME window to be scaled up.
• Single market priorities. European semester.
• Possible reapplication of plan outside the EU.

InvestEU: status and next steps

41

20

Investment Plan for Europe EIAH EIPP

www.ec.europa.eu/invest-eu www.eib.org/invest-eu www.eib.org/eiah eiah@eib.org

EFSI

www.eib.org/efsi www.eif.org/what_we_do/efsi

Contact for promoters: info@eib.org or relevant EIB Operations department

www.ec.europa.eu/eipp

#InvestEU

Thank You - Would you like to know more?

42

BACK UP SLIDES

43

EFSI: mobilising new investment

44

EFSI reporting

45

2015 2016 2017 2018 2019 2020

30 June

2nd deadline for signature

• f EFSI

Operations

4 July

Deadline for approval of EFSI Operations

4 July 4 July

Entry into force of EFSI Regulation

EFSI timeline and investment period

1st deadline for signature

• f EFSI
• perations

Investment period to achieve EUR 315bn of total investments

“Extended” investment period

EFSI operations to target EUR 315bn of total investment by 2018 Actual investment period runs until 30 June 2020

Third anniversary

• f signing the

EFSI Regulation 27 46

MEMBER STATE NPB1 FINANCING (UP TO) Germany KfW € 8,000m Spain ICO € 1,500m France CDC € 8,000m Italy CDP € 8,000m Luxembourg SNCI € 80m Poland BGK/PIR € 8,000m Slovakia SIH/SZRB € 400m Bulgaria BDB € 100m United Kingdom € 8,500m TOTAL € 42,580m

• 1. National Promotional Banks

Co-financing with EFSI announced by MS

47

STEERING BOARD sets the strategic orientations,

• perating policies, rules applicable to
• perations with NPBs and Investment

Platforms, and the risk profile of the EFSI 3 members from the Commission (Gerassimos Thomas, Irmfried Schwimann, Benjamin Angel) 1 member from the EIB (Ambroise Fayolle) MANAGING DIRECTOR AND DEPUTY MANAGING DIRECTOR MD (Wilhelm Molterer): Day-to-day management of the EFSI, prepares and chairs the meetings of the investment committee dMD (Ilyiana Tsanova): assists the MD

INVESTMENT COMMITTEE 8 independent experts selected by the Steering Board for their competence in project financing Approves or rejects the support of the EU guarantee for EFSI projects on the basis of the EFSI Regulation and the scoreboard of indicators

Dominik Radziwill Gillian Day Thierry Déau Dalia Dubovske Nievez Rodriguez Noel Gregor Patterson-Jones Vicky Kefalas Fabio Pammoli

EFSI governance

48

SOURCES OF FUNDING TYPICAL PRODUCTS OFFERED PROJECTS IN ELIGIBLE SECTORS Long-term senior debt for higher risk projects Equity and quasi-equity Subordinated loans Other investors join in on a project basis

Transport Energy infra, Renewable Energy, Energy Efficiency ICT Environment and Resource efficiency Human capital and social sectors Research, Development, Innovation SMEs

The Fund serves as credit protection for new EIB activities European Fund for Strategic Investments

EFSI Infrastructure and Innovation Window

49

Innovative renewable energy infrastructure fund in Denmark

• EIB, backed by EFSI, provides equity-type financing of up to EUR 75m to

Copenhagen Infrastructure Partners for an innovative infrastructure fund investing in large energy-related projects such as offshore wind, biomass and transmission schemes.

• EIB's equity participation would contribute to the fund‟s overall market

credibility with institutional investors and help broaden its investor base to an international one.

• The anticipated high share of offshore wind, biomass and transmission

investments is expected to generate considerable employment in the construction phase (2500 - 4000 jobs). It is also estimated that some 1000 jobs may be created during the project‟s operation, a significant number of which will be highly-skilled jobs.

Example of EFSI projects

50

Energy efficiency in residential buildings in France

• The EIB, backed by EFSI, provides a €400m loan to a pioneering financing

programme aimed at addressing the need to trigger energy efficiency investments in private homes in France on a large scale.

• The project supports an innovative approach by French regions to set up

specialised companies to provide a „packaged‟ solution covering technical and financial assistance to homeowners for retrofitting.

• The project is expected to support retrofitting of some 40 000 flats and houses.
• Energy efficiency investments will benefit the economy by cutting energy bills,

saving emissions and creating new construction jobs (c. 6 000). Total energy savings are estimated to be

• f

the

• rder
• f

288 000MWh per year. This is roughly equivalent to the annual energy consumption of 9 600 French households.

Example of EFSI project

51

Accessibility Ports Infrastructure (Spain)

• The project concerns the financing of the Fondo Financiero de Accesibilidad Terrestre

Portuaria (FFATP), to support investments in accesses via rail and road to the main national ports during 2015-2020. The project will improve interoperability between transport modes in the TEN-T network as all ports are TEN-T and in Cohesion Priority Regions.

• The majority of schemes contribute to Climate Change through Sustainable Transport
• bjectives.
• Third party financing required in order to complete the financing needs.
• Financing from the EIB will accelerate the construction of projects and will act as a catalyst for

the participation of the Spanish NPB (ICO) and commercial banks.

Transport rolling stock (Italy)

• Innovative financing structure (bond scheme) under EFSI for the acquisition of 49 five-car

articulated EMUs and 250 double-deck passenger coaches.

• New rolling stock will be used in 5 regions, concentrating 50% of the service supply and 60%
• f the entire Trenitalia‟s patronage.
• Delivery of new rolling stock: 2014 – 2016
• Project Investment Cost: € 709m
• Loan amount: € 300m

Example of EFSI projects

52

SOURCES OF FUNDING TYPICAL PRODUCTS OFFERED Guarantees European Fund for Strategic Investments FINAL RECIPIENTS AND EXAMPLES SME

e.g. micro- loans to a SME

Venture Capital Growth finance Securitisation Mid-cap company

e.g. equity in a start-up e.g. loans for R&D project e.g. venture capital for a prototype

The Fund serves as credit protection for new EIF activities Other investors join in on a project basis

EFSI SMEs and Mid-caps window

53

EIF and Bpifrance sign first agreement for innovative French companies

• Under the agreement, Bpifrance will provide finance to innovative companies in

France for a total of EUR 420 million over the next two years with support of EFSI, allowing EIF to provide a new financing boost for highly innovative businesses under the Horizon 2020 initiative InnovFin, the EU's Finance for Innovators.

• Bpifrance has recently launched a product called "Prêt d'Amorçage investissement"

("PAi") to address the needs of start-up companies. It will combine this product with the EU guarantee at a 40% guarantee rate.

Example of EFSI-backed EIF operation

54

EIF and BGK sign first COSME agreement in Europe to benefit Polish businesses

• The agreement will provide BGK with a counter-guarantee allowing to support PLN

1,000 million (ca. EUR 250 million) of loans to SMEs in Poland over the next two years with the support of EFSI.

• The loans will be provided without hard collateral thanks to a 80% guarantee which in

turn is backed by a counter-guarantee from the EIF, provided under the COSME programme with financial backing from the EU.

• The agreement will make it possible for BGK to launch a new guarantee product and

to support additional financing without requiring hard collateral (e.g. mortgage) at favourable conditions to approximately 5,000 SMEs.

Example of EFSI-backed EIF operation

55

• as of 14 September

155 projects on the map* 108 projects published Austria 2 2

darker saturation signifies more projects

Belgium 4 8

based on number of projects published per country

Bulgaria 5 5

*cross-border projects appear

Croatia 1 2

more than once on the map

Cyprus 2 2 Czech Rep

• Denmark
• 1

Estonia 2 5 Finland 3 3 France 3 6 Germany 4 6 Greece 45 54 Hungary

• 1

Ireland

• 1

Italy 3 6 Latvia 2 2 Lithuania 2 3 Luxembourg

• Malta

1 2 Netherlands 1 3 Poland 2 2 Portugal 1 1 Romania 7 8 Slovakia 1 2 Slovenia 2 3 Spain 7 11 Sweden 2 3 United Kingdom 6 13 totals 108 155

Projects per Member State

• 206 projects

submitted

• 108 projects

published

• On-going

promotional efforts to bring more projects

EIPP status

Transport 27% Energy 25%

Social Infrastructure, Tourism 19%

Research, Development & Innovation 10% Resources, Agriculture & Environment 9% Digital Economy 8%

SMEs & Mid-caps 2%

Transport 32% Energy 30%

Social Infrastructure, Tourism 16%

Research, Development & Innovation 6% Resources, Agriculture & Environment 6% Digital Economy 8%

SMEs & Mid-caps 2%

Further indicators Total investment proposed (sum of all projects) €48bn

• Projects Published
• According to primary sector *
• with 2nd sector included*
• * EIPP Project Promoters can

select one or two sectors from a choice of 25 sectors in line with Article 9.2 of (the "EFSI") Regulation 2015/1017

• EIPP sector diversity
• as of 14 September

EIPP status

What is the geographical scope of the Hub? The European Union Is the Hub linked to EFSI projects

• nly?

No, support will not be limited to projects to be financed by EFSI (and/or the EIB) Does the Hub provide financing? No Who concretely delivers the advisory support provided via the Hub? Experts of the Hub, its partner institutions and/or appointed external consultants Is the support provided via the Hub free of charge? In most cases, yes. A contribution may be requested from certain private beneficiaries in order to align interests and ensure ownership of results Does the Hub have local offices? Currently the Hub operates mainly via the EIB headquarter in Luxembourg and its local offices. A network of local partner Institutions is being established

FAQs about EIAH

58

• Requests to the Hub: overview
• Requests by country
• Situation as at 31.08.2016

Project-specific requests by sector (Tot. 195)

• Total of 255 requests
• 195 project-specific requests
• Public sector: 59
• Private sector: 130
• Other (e.g. NGOs): 6
• *The category “other” includes project-specific requests in which the sector is not

indicated

• *excludes 10 requests

from non-EU countries

Transport 15% R&D/Innovatio n 9% Other 8% Telecommuni cations & Digital 9% SMEs / start ups 12% Environment 6% Urban/Rural development 10% Health 5% Agriculture 5% Education 2% Energy 19%

Country

• No. of

requests United Kingdom 22 Bulgaria 19 Italy 19 Belgium 18 Spain 17 Romania 14 Hungary 13 Germany 13 France 12 Greece 12 The Netherlands 9 Latvia 8 Austria 8 Luxembourg 8 Czech Republic 7 Cyprus 7 Lithuania 6 Poland 6 Finland 5 Slovenia 4 Croatia 4 Ireland 3 Portugal 3 Malta 2 Slovakia 2 Denmark 2 Sweden 1 Estonia 1 Total 245

• Building the EIAH Partner Network
• MoU signatures as of today

MoUs to be signed

NRWB Germany PMV Belgium KfW Germany SFPI Belgium NIA The Netherland s

Signed MoUs

SID Bank Slovenia Altum Latvia MFB Hungary BDB Bulgaria HBOR Croatia SBCI Ireland CMZRB Czech Republic AWS Austria SZRB AM Slovakia BPI France France CDC France BGK Poland Invega Lithuania Almi Sweden VIPA Lithuania ZBP Poland ICO Spain CDP Italy UIC

• Situation as at 31.08.2016