Innovation and new technologies innovation pipelines from research to market roll out n. valentine
•Transferir como PPTX, PDF•
1 gostou•769 visualizações
The document discusses financing of transport projects by the European Investment Bank (EIB). It provides an overview of EIB lending priorities and volumes, with a focus on transport lending which accounts for 20-25% of total lending. The EIB prioritizes projects that further EU policy goals of developing an efficient and sustainable European transport system with reduced oil dependency. Financial instruments are also discussed as mechanisms to address risks deterring private sector investment in projects.
Recomendados
Recomendados
Mais conteúdo relacionado
Mais procurados
Mais procurados (20)
Destaque
Destaque (17)
Semelhante a Innovation and new technologies innovation pipelines from research to market roll out n. valentine
Semelhante a Innovation and new technologies innovation pipelines from research to market roll out n. valentine (20)
Mais de European Commission
Mais de European Commission (17)
Último
Último (20)
Innovation and new technologies innovation pipelines from research to market roll out n. valentine
- 1. EIB Financing of Transport Sector The development of financial instruments TEN-T DAYS Riga, June 22nd, 2015 European Investment Bank Group18/06/2015 1
- 2. European Investment Bank Group 2 1. EIB Lending 2. Financing of Transport Projects 3. EIB Financial Products Evolution 18/06/2015
- 3. The EU bank European Investment Bank Group 3 Investing in Europe’s growth • Natural financing partner for the EU institutions since 1958 • Around 90% of lending is within the EU • Shareholders: 28 EU Member States 18/06/2015
- 4. Lending priorities and 2014 lending volumes European Investment Bank Group 418/06/2015
- 5. Lending outside EU in 2014: EUR 8bn (EIB signatures) European Investment Bank Group 518/06/2015
- 6. EU Policy and the EIB Transport Lending Policy The EIB, as a European institution, continually seeks to focus on activities that are likely to have the greatest impact on furthering EU policy goals and has integrated these policy indications in its Transport Lending Policy. In financing the transport sector, the EIB prioritises its support to technologies and infrastructures with the objective of developing a more efficient and sustainable European transport system with a further use of renewable sources, contributing to reducing oil dependency and enhancing the competitiveness of the European industry. 6 The Lending Policy of the EIB European Investment Bank Group18/06/2015
- 7. EIB and Transport Lending European Investment Bank Group 7 0 10 20 30 40 50 60 70 80 90 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 EURbn EIB lending in the EU Other lending Total transport Providing long-term lending: EUR 653 bn from 2004-2014. Transport lending 20–25 % of total; TEN-T is 60% of transport lending. 8% 51% 35% 6% Transport Lending Air transport Railways + Urban transport Roads, motorways Sea transport 18/06/2015
- 8. Financing of transport projects European Investment Bank Group 8 Transport is a key sector for EIB. We can offer suitable products for most structures, as long as it is based on… …a sound business case and project structure. Sound underlying business case Revenue generation and certainty Project structuring, procurement and financing choices Barriers to private financing Financing options Role of EIB 18/06/2015
- 9. EIB financial products evolving European Investment Bank Group 9 Majority of transport lending is through public sector or backed by guarantees. 18/06/2015
- 10. Financial instruments • A financial instrument is a mechanism to address specific risks that are deterring promoters and investors from investing in projects. • It involves using EU funds to provide risk absorption capacity beyond “normal” commercial levels • CEF has a EUR 2bn budget for instruments and EFSI will have some EUR 21bn • Instruments can be used in project finance (LGTT & PBI), corporate finance and intermediated lending 30/06/2015 European Investment Bank Group 10
- 11. A new way of thinking • Grants are limited, public debt capacity constrained • Instruments allow the public sector to encourage private sector involvement • For this to happen: • Projects need to be conceived to involve private sector • Laws and regulations need to be clear • Main approvals should be in place • Specified in output terms • Risk allocation clear • Not just PPPs. Regulated concessions; Sector interventions 30/06/2015 European Investment Bank Group 11
- 12. CEF Instruments • Developing new instruments is a collaborative process, need pilots to test concepts • Current focus: • Greener shipping • SESAR • ERTMS • Next wave: • Alternative fuel deployment • Vehicle fleets • Other sectors have initiatives Transport can use - Innovfin 30/06/2015 European Investment Bank Group 12
- 13. Innovfin • InnovFin consists of a series of integrated and complementary financing tools and advisory services, covering the entire value chain of research and innovation (R&I) in order to support investments from the smallest to the largest enterprise. • InnovFin is available across all eligible sectors under Horizon 2020, in EU Member States and Associated Countries. • This includes transport RDI 30/06/2015 European Investment Bank Group 13
- 14. InnovFin Product Overview 18/06/2015 European Investment Bank Group 14
- 15. Thank you for your attention! n.valentine@eib.org European Investment Bank Group 1518/06/2015
Notas do Editor
- EUR 653 bn in aggregate lending from 2004 – 2014. This is equal to an average of c. EUR 59 bn. annually for the period. Lending in 2014 was EUR 77 bn. Over the period, lending to transport totals EUR 152 bn. with an average of c. EUR 14 bn. or 23%. In 2014, transport lending was 18% of overall lending. TEN lending of EUR 83 bn. from 2004 – 2014. Transport lending EUR 140 bn. from 2005 – 2004 or EUR 152 bn from 2004 – 2014.
- 2011 Transport Lending Policy: Climate action > 25% of EIB’s portfolio; greatly favouring rail projects within the Transport Sector. The underlying business case must always be sound, and issues of poor project profitability is not solved through with a financing solution. Revenue generations (to support availability payments) and financing are two different (although related) matters. Considerations on rights to regulate track access charges to finance new projects: Additional revenue opportunity? Project size: ‘Smaller’ projects are well suited for ring-fenced structures; bigger project converge towards the whole network = IM’s balance sheet. Financing options include ‘on-balance financing’ against the balance sheet of the network manager/owner or the State and off-balance sheet financing, which typically involves a private entities bidding for a concession. The project structuring, procurement and financing choices reside with the railway managers/owners and the majority of rail projects are publically funded. Considerations on barriers to private financing: Large projects, high complexity, interface challenges, culture/rigidity, information (about financing opportunities)? Credit strength of railway manger varies and some will have high credit quality but remain debt constrained. Allocation of revenue risk; (discretionary) policy decisions or commercial decisions by TOC /IM may influence traffic levels.
- Product examples.
- Innovfin provides loans and guarantees to companies – large Corporates, Mid Caps and SMEs - undertaking research, development or innovation projects, with the EIB (and EIF) providing direct and intermediated financing instruments.