1. European Investment Bank Group
Investment Plan for Europe Delivering on the European Fund for Strategic Investments (EFSI)
2016
January 2016
European Investment Bank Group

2. Investment gap and persisting low growth in Europe
Real GDP per capita (in purchasing-power and inflation adjusted international dollar, 2013)
Estimates of potential growth (in percent)
Source: European Commission, AMECO
Average annual Total Factor Productivity growth (in percent)
Source: The Conference Board; EU North = AT, BE, DE, DK, FI, FR, IE, LU, NL, SE, UK; EU South = CY, ES, IT, GR, MA, PT; EU East = BU, CZ, EE, HU, LT, LV, PL, RO, SI, SK
Source: IMF, WEO

3. Why an Investment Plan Europe?
Investment & competitiveness gap
EU Investment Plan
EU and Member State policy action
EU budget guarantee
EIB capacity to mobilise additional investment
High liquidity in the market
Public budget constraints
Financial and non-financial barriers to investment

4. 3 ways to tackle the investment gap
Investment Plan for Europe
Mobilise finance for investment
European Fund for Strategic Investments (EFSI)
Cooperation with National Promotional Banks
Support investment in real economy
European Investment Advisory Hub (EIAH)
European Investment Project Portal (EIPP)
Create an investment friendly environment
Improving the regulatory environment
Structural reforms
Aim: to mobilise at least €315 billion in investment across the EU

5. European Fund for Strategic Investments (EFSI)
24/03/2015

6. EFSI setup and governance
EIB
Group
All EFSI operations are within the EIB Group (EIB&EIF)
On the EIB’s balance sheet (no separate entity)
Subject to standard due diligence
EIB & EIF governing bodies approve each operation
Additional EFSI governance:
Steering Board
Investment Committee, headed-up by a
Managing Director
Operations already started in spring 2015 4

7. Additionality – our value added
Making a difference
Additionality – our value added
Address market failures or sub-optimal investment situations
Finance operations not possible to same extent without EFSI-backing
Absorb part of the risk to trigger additional investments
Impact
Attracting other sources of finance
Maximising growth
Supporting employment creation and retention

8. Targeting strategic investment by public and private entities
Key areas
Targeting strategic investment by public and private entities
Infrastructure, including transport, energy and digital
Innovation: Education and training, health, research, development
Renewable energy: Expansion of renewable energy generation and support of energy and resource efficiency
Environment: Projects in the environmental, urban development and social fields
SMEs and midcaps: Financing support through local partner banks and institutions 12

9. With targeted products
Continuously adapted to market needs 6

10. EFSI Eligibility criteria11

11. Opportunities for promoters/investors
EU Member States, National Promotional Banks, Investment Platforms and private sector can participate in different ways :
Projects
Co-financing/ Risk-sharing with EIB/ EIF
Investment Platforms
Pooling of projects with thematic or geographic focus
Agreement or Fund
Can benefit from EU guarantee via EIB
Cooperation with EU National Promotional Banks 13

12. European Investment Advisory Hub
More than just finance - investment support
DEMAND
Project promoters
Public authorities
Member States
Private sector
European Investment Advisory Hub
Web content + Web portal + Support team
Access point
Existing advisory programmes and activities
Additional advisory and technical assistance
EIAH’s partner institutions’ expertise
Project support throughout the project cycle
Support to Financial instruments
Enhance access to finance
New investment support also in areas relevant to the scope of 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
Delivery channels
SUPPLY 18

13. EIB Group operations under EFSI
EUROPEAN FUND FOR STRATEGIC INVESTMENT In 2015
APPROVED AND/OR SIGNED PROJECTS
TOTAL FINANCING
UNDER EFSI
MOBILISING TOTAL
INVESTMENT OF
42 Projects
EUR 5.7bn
EUR 25bn
EIB
EFSI in 2015
EIB has approved 42 operations and EIF 84 operations
Total EFSI financing in 2015 amount to EUR 7.5 bn
(EIB EUR 5.7 bn and EIF 1.8 bn – SME Window)
Total estimated mobilised investment in 2015 EUR 50bn (25 bn EIB and EUR 25 bn EIF)
EFSI multiplier can only be calculated at the end of the investment period, anticipated multiplier effect of EIB Board approved transitional operations is close to target of 15.
EIF
EUR 1.8bn
EUR 25bn
84 Operations 8

14. Results dashboard as at 22/01/2016

15. Thank you!