This presentation by Clément Fourchy, EIB, was made at the OECD-Risklab-APG Workshop on pension fund regulation and long-term investment held in Amsterdam on 7 April 2014. Discussions focused on: long-term pension investment strategies under risk-based regulation; riskiness and procyclicality in pension asset allocation; and, regulatory challenges for long-term illiquid assets. For more information, please visit: http://www.oecd.org/daf/fin/private-pensions/OECD-APG-workshop-pension-fund-regulation-LTI.htm

1. The EIB, a catalyst for Long Term
Financing
Clément Fourchy
EIB – Advisory Services
Amsterdam, 7 April 2014
OECD/APG Workshop on Pension Fund Regulation and
Long Term Financing

2. 2
The EIB, a long term financial institution
The EU’s Bank: a bank driven by LT policy objectives (support
growth and employment, support European integration, etc.)
A LT lender…
The larger multilateral lender world wide
Nature of its activities: EUR 72 billion in 2013 on e.g. LT infrastructure
financing and MT/LT SMEs intermediated financing
Average maturity of 10 years; up to 35 years for some infrastructure
projects
and a LT borrower
Most frequent public international bond issuer (EUR 70 billion in 2013)
Average maturity of 10 years; up to 32 years
A holistic and systemic approach: Lending, Blending, Advising

3. 3
Blending to support LT financing
Stimulate supply of LT financing through some initiatives co-designed
and implemented with the EU Commission
Project Bonds Initiative (PBI
- pilot phase)
Credit enhancement of project
bonds
Either subordinated loan or
contingent facility
EUR 230 million helping
mobilising up to EUR 4 billion
of private financing
Last project: Belgium’ A11
PPP (EUR 578 million)
Loan Guarantee Instrument
for Trans-European
Transport Network Projects
(LGTT)
Limit risk bearing on traffic-
related revenues in the early
stages of PPP transport
projects
Stand-by liquidity facility up to
20% of the senior debt and/or
EUR 200 million per project
Example: South Europe
Atlantic HSL

4. 4
Advising to support LT financing
Act as a facilitator between financial markets and policy-makers (e.g.
contribution to the EC Green Paper on LT financing)
Stimulate both demand and supply of LT financing:
Strenghten project owners’ capacities to implement more and better
projects (investment pipeline):
Governments and procuring authorities – EPEC, JASPERS
Financing plans for research and development activities - RDI
Other workstreams on:
Economic and legal standardisation of infrastructure deals
Securitisation of banks’ existing infrastructure debt profolios (with some
LTIC partners)
Solutions to improve information quality and quantity about
infrastructure deals (past performance and future deals)

5. 5
European Investment Bank
Clément FOURCHY
Principal Adviser
Advisory Services / EPEC
Phone: (+352) 4379 70257
E-mail: c.fourchy@eib.org
Thank you for your attention.
Questions?

6. 6
European Investment Bank Disclaimer
This Presentation is incomplete without reference to, and should be viewed solely in conjunction with, the oral
briefing provided by the European Investment Bank (“EIB”). The terms and conditions are intended as an outline
for discussion purposes only and made on an indicative basis. All figures set forth in this Presentation are subject
to change, to a satisfactory due diligence and to all necessary internal approvals of EIB (in particular of its credit
committees).
The information in this Presentation reflects the prevailing conditions and the view of EIB as of this date and are
accordingly subject to change and based on carefully selected sources believed to be reliable. EIB has not
independently verified this information and does not make any representation or will be liable that such
information is accurate, valid, timely and complete.
This Presentation is provided without any liability whatsoever by EIB and shall not constitute any obligation of EIB
to extend credit facilities to the Company or to carry out a due diligence review of the aspects relevant for the
financing of the Project.
Neither this presentation nor any of its contents may be duplicated, published or used for any other purposes
without the prior written consent of EIB.
European Investment Bank