Post on 29-Oct-2019
THE INVESTMENT PLAN FOR EUROPE
EUROPEAN FUND FOR STRATEGIC INVESTMENTSEUROPEAN INVESTMENT ADVISORY HUBEUROPEAN INVESTMENT PROJECT PORTALIMPROVED INVESTMENT ENVIRONMENT
Cork, 28 September2017
Patrick O'RiordanEuropean Commission
patrick.o'riordan@ec.europa.eu
The €315bn investment plan has the potentialto bring investments back in line with historical norms
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2.533
2.683
2.6872.668 2.663
2.747
2.845
3.017
3.199
3.116
2.6742.706
2.7562.708
2.650
2.731
2.8682,918
3,027
3.019
2200
2400
2600
2800
3000
3200
3400
1999 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018
Real gross fixed capital formation (GFCF) in EU28in 2015 prices, € bn
GFCF historical norm(range 21-22% of GDP)Baseline/forecast
Source: European Commission - based on 2016 Autumn forecast
forecast
Ireland - Public investment allocations
Source: European Commission (Ameco database)
0
1000
2000
3000
4000
5000
6000
7000
1995
1997
1999
2001
2003
2005
2007
2009
2011
2013
Transport
Communication
Housing development
Water supply
Health
Education
EUR million
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Sustaining and strengthening the recovery:Virtuous Triangle
Growth Drivers :
investment
structural reforms
fiscal responsibility
European Semester/Economic PolicyCo-ordination
Infrastructure needs
• Government investment sharply hit during the crisis
• Infrastructure constraints rise
Housing
Public transport
R&D, ICT and education
Water supply and treatment
Environment and climate
• Key issue for competitiveness and durable growth
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Removing Barriers to Investment
• Education, skills, lifelong learning
• ICT skills shortage
• Access to Finance:
• Central Credit Register,
• Competition in the Banking Sector,
• More transparency in the processing of loan applications,
• and simplifying government supported schemes
• Legal services costs
• Planning and building regulations
Country Specific Recommendation (No. 2)from EU to Ireland
• "Better target government expenditure, byprioritising public investment in transport,water services, and innovation inparticular in support of SMEs. Enhancesocial infrastructure, including socialhousing and quality childcare…"
• See: www://ec.europa.eu/info/sites/info/files/2017-european-semester-country-specific-recommendations-commission-recommendations_-_ireland_0.pdf
Why an Investment Plan for Europe?
Investment & competitiveness gap
High liquidity in the market
Public budget constraints
Financial and non-financial barriers to investment
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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 FINANCEFOR INVESTMENT
European Investment Project Portal (EIPP)
European Investment Advisory Hub (EIAH)
2. MAKING FINANCEREACH 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
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Operations to be consistent with EU policies and to supportany 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 localpartner banks and institutions
EFSI key areas
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Key sectors and areas
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Conclusions / Summary
● EFSI financing of €70 million. The Projectwill have a strong demonstration effectfor future health care projects to befinanced in the country, but alsopotentially for primary health careprojects to be financed across Europe.
● The project will facilitate the delivery ofaccessible, high-quality integratedprimary care services aimed at improvingthe health and well-being of the localpopulation. There is a clear economicbenefit because patients can return to theworkforce and be more productive as aresult of better clinical outcomes andshorter waiting times for treatment
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Case Study: 14 Irish Primary Care Centres PPP
EFSI SME financing
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Extend the duration and increase the firepower of the EFSIto mobilise at least EUR 500 billion by end-2020
EFSI: what next?
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Reinforced additionality More transparency Enhanced geographic
coverage More local technical
assistance through theEuropean InvestmentAdvisory Hub
Combination with other EUfunds
Reinforced focus onclimate action
3 ways to tackle the investment gap
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Aim: to mobilise at least €315 billion in investment across the EU
Make finance reachthe real economy• European Investment
Advisory Hub• European Investment
Project Portal
Mobilise finance forinvestment• European Fund forStrategic Investments• Cooperation withNational PromotionalBanks
Investment Plan for Europe: Pillar II
Create an investmentfriendly environment• Improving the
regulatoryenvironment
• Structural reforms
European Investment Advisory Hub
What is the Advisory Hub?
Launched in September 2015 as part ofthe Investment Plan for Europe, the EIAH
is a tool to strengthen Europe's investmentenvironment and improve the quality of
investment projects
A cooperation platform to leverage and exchangeexpertise among partner institutions (NPIs,Managing Authorities)
An instrument to assess and address unmet needsfor advisory support
A single access point to a comprehensive offer ofadvisory and technical assistance services
A joint initiative
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European Investment Advisory Hub
FAQs about the Advisory Hub
What is the geo scope ofthe Hub?The European Union
Is the Hub only linked to EFSIprojects?
No, support will not be limited toprojects to be financed by EFSI
(and/or the EIB)
Does the Hubprovide financing?The EIAH does not providefinancing of any sort. Requestsfor financing addressed to theHub are redirected to relevantresources as appropriate.
Who concretely deliversthe advisory support
provided via the Hub?Experts of the EIB, its partnerinstitutions and/or appointed
external consultants
Is the support provided viathe Hub free of charge?
In most cases, yes. A contributionmay be requested from privatesector beneficiaries in order to
align interests and ensureownership of results
Does the Hub have localoffices?Currently the Hub operatesmainly via the EIB headquartersin Luxembourg and its localoffices. A network of localpartner Institutions is developing
€
€
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EuropeanInvestment
Project PortalThe meeting place
for promotersand investors
EU ProjectPromoters
Public/Private
InternationalInvestors
Community
• Second pillar of the Investment Plan for Europe
• Meeting point enabling EU-based project promoters to publish their projects and reach potential investors worldwide
• EIPP went live in June 2016 and promoters can submit projects in all 24 EU languages
• Continuous Web development/improvement: for investors and promoters
European Investment Project Portal (EIPP)ec.europa.eu/eipp
EIPPObjectives of the PortalEIPPObjectives of the Portal
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EuropeanInvestment
Project PortalThe meeting place
for promotersand investors
Key figures about EIPP
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KNOWLEDGE & DIGITALECONOMY
48 projects
ENERGY UNION
52 projects
TRANSPORT
61 projects
SOCIAL INFRASTRUCTURE& OTHER
51 projectsRESOURCE&ENVIRONMENT
29 projectsFINANCING FOR SMES &MID-CAPS
8 projects
192 projects published; projectswith two sectors are counted asone for each sector.
EuropeanInvestment
Project PortalThe meeting place
for promotersand investors
Does myproject have tobe based in the
EU to bepublished onthe Portal?
Does thePortal
providefinancing?
Is the Portallinked to
EFSI?
Is publishing aproject on thePortal free of
charge?
As aninvestor, do I
have to beEU-based?
Yes. However,cross-border
projects with non-EU countries arealso permitted as
long as theinvestment takes
place, at leastpartially, in one of
the EU MS.
The EIPP doesnot providefinancing.
It acts as abridge between
EU-basedproject
promoters andinvestors
worldwide.
No, thepublication of aproject on the
Portal is neithera guarantee of,
nor aprecondition forobtaining EFSI
financing.
Yes, publication isfree for allprojects.
No. Investorscan be basedanywhere inthe world.
FAQs
Investment Plan for Europe
EIAH
EIPP
www.ec.europa.eu/invest-euwww.eib.org/invest-eu
www.eib.org/eiaheiah@eib.org
EFSIwww.eib.org/efsiwww.eif.org/what_we_do/efsi
Contact for promoters: info@eib.org or relevant EIB Operationsdepartment
www.ec.europa.eu/eippeipp-helpdesk@ec.europa.eu
#InvestEU
Thank You – useful links and contacts
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#EIPP
European Commission Representation in IrelandEurope House12-14 Lower Mount Street, Dublin 2Telephone (01) 634 1111
Email eu-ie-info-request@ec.europa.euTwitter https://twitter.com/eurirelandFacebook https://www.facebook.com/EUIreland
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