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

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

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

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

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

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

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

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

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

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

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

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

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

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

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