The European Investment Bank (EIB)
The European Investment Bank (EIB)
The European Investment Bank (EIB)
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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