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EUROPEAN INVESTMENT BANK<br />

<strong>EIB</strong> Financing to Support the Northern Dimension<br />

St. Petersburg – 13 May 2008


<strong>The</strong> <strong>European</strong> <strong>Investment</strong> <strong>Bank</strong> (<strong>EIB</strong>)<br />

Long-term Finance Promoting <strong>European</strong> Objectives<br />

<strong>European</strong> Union’s long-term lending bank<br />

set up in 1958 by the Treaty of Rome<br />

Shareholders: 27 EU Member States<br />

Own Funds EUR 33.4bn (subscribed<br />

capital EUR 164.8bn) at year-end 2007<br />

Lending in 2007: EUR 47.8bn in total, of<br />

which EUR 41.4bn within the EU and EUR<br />

6.4bn Outside the EU<br />

Total outstanding loans at 31.12.2007:<br />

EUR 324.8bn


<strong>The</strong> <strong>European</strong> <strong>Investment</strong> <strong>Bank</strong> (<strong>EIB</strong>)<br />

<strong>European</strong> Priority Objectives<br />

Within the Union:<br />

Cohesion and convergence<br />

Small and medium enterprises (SMEs)<br />

Environmental sustainability<br />

Innovation 2010 Initiative (i2i)<br />

Trans-<strong>European</strong> Networks (TENs)<br />

Sustainable, competitive and secure energy


<strong>The</strong> <strong>European</strong> <strong>Investment</strong> <strong>Bank</strong> (<strong>EIB</strong>)<br />

<strong>EIB</strong> lending in Finland and Sweden<br />

Lending in 2007: Finland EUR 613 m, Sweden 713 m<br />

Wide range of borrowers: private and public companies,<br />

local governments, PPP structures and others<br />

Lending targeting in particular i2i (research &<br />

development), environmental protection and TENs<br />

<strong>EIB</strong> lending in the Baltic States<br />

Lending totalling EUR 76 m in 2007<br />

Borrowers mainly public-sector related entities and<br />

banks<br />

Close cooperation with the EU Cohesion and Structural<br />

Funds, including technical assistance from JASPERS<br />

Lending targeting in particular TENs, environmental<br />

protection, energy and SMEs


<strong>The</strong> <strong>European</strong> <strong>Investment</strong> <strong>Bank</strong> (<strong>EIB</strong>)<br />

Outside the Union under EU Mandates:<br />

Pre-Accession<br />

Accession Countries – Croatia and Turkey<br />

Candidate Country – FYROM<br />

Potential Candidate Countries – Western Balkans<br />

<strong>European</strong> Neighbourhood<br />

Mediterranean Partner Countries<br />

Russia and Eastern Neighbours<br />

Development<br />

Africa, Caribbean and Pacific<br />

Asia and Latin America


1 st <strong>EIB</strong> Mandate<br />

EURm<br />

Russia (2000-2004) 100<br />

Selected environmental projects in Russia’s Baltic Sea basin<br />

Expired on 6 May 2005<br />

Projects for EUR 85 m signed<br />

All 3 projects in St. Petersburg<br />

Signed projects:<br />

St Petersburg Vodokanal I (South West Wastewater<br />

Treatment Plant)<br />

EUR 25 m<br />

St Petersburg Vodokanal II (Northern Wastewater<br />

Treatment Plant)<br />

EUR 20 m<br />

St Petersburg Flood Barrier EUR 40 m<br />

Total:<br />

EUR 85 m<br />

All three projects were co-financed with both EBRD and NIB,<br />

and received support from the NDEP (Northern Dimension<br />

Environmental Partnership)


2 nd <strong>EIB</strong> Mandate<br />

EURm<br />

Russia/WNIS (2004- July 2007) 500<br />

<strong>EIB</strong>’s 2nd Mandate for Russia, Ukraine, Moldova and<br />

Belarus<br />

Russia, Ukraine and Moldova are operational for <strong>EIB</strong>;<br />

Belarus, if the EU gives the green light<br />

“Environment”, plus “transport, telecommunications and<br />

energy infrastructure on priority TEN axes having crossborder<br />

implications for a Member State” of the EU<br />

Two projects signed: Ukraine Roads (EUR 200 m) and<br />

Moldova Roads (EUR 30 m)<br />

Co-financing with the EBRD


3 rd <strong>EIB</strong> Mandate (1)<br />

Russia, Eastern Europe and Southern Caucasus (2007 - 2013) EURm<br />

3700<br />

<strong>EIB</strong>’s 3rd Mandate for Russia, Ukraine, Moldova,<br />

Belarus, Georgia, Armenia and Azerbaijan; all, except<br />

Belarus, are operational for <strong>EIB</strong><br />

“Projects of significant interest to the EU in transport,<br />

energy, telecommunications and environmental<br />

infrastructure. Priority should be given to projects on<br />

extended major Trans <strong>European</strong> Network axes, projects<br />

with cross-border implications for one or more Member<br />

States and major projects favouring regional integration<br />

through increased connectivity.”


3 rd Mandate (2)<br />

• <strong>EIB</strong> Financing Operations in this Region should<br />

be carried out in close cooperation with the EBRD<br />

in accordance with the tripartite Memorandum of<br />

Understanding signed between the Commission,<br />

the <strong>EIB</strong> and the EBRD in December 2006.<br />

• Beneficiaries of <strong>EIB</strong> loans: State, Regions,<br />

Municipalities, Utilities, Private Companies,<br />

Project Finance Structures and PPPs.


<strong>EIB</strong> Value Added and Requirements<br />

Value-Added:<br />

Financial benefit of <strong>EIB</strong> funds<br />

Long maturity<br />

Signalling effects/sector expertise<br />

Technical assistance<br />

Requirements:<br />

Project eligible viz. 2007-2013 Mandate sectors (outside EU) or EU<br />

Priority Objectives (within EU)<br />

Compliance with <strong>EIB</strong> procurement rules (notably OJ)<br />

Compliance with EU’s Environmental policy & standards (notably<br />

EIA, etc.)<br />

“<strong>Bank</strong>able” project with appropriate project preparation<br />

Economic viability<br />

Technical viability<br />

Financial viability of project and of Borrower<br />

Legal Documentation / security structure<br />

Minimum project size – EUR 40-50 million (<strong>EIB</strong> loan max. 50%)


For more information…<br />

http://www.eib.org/<br />

Mr Jaani Pietikäinen<br />

<strong>European</strong> <strong>Investment</strong> <strong>Bank</strong><br />

Head of the Helsinki Office<br />

pietikai@eib.org

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