"The Infrastructure Funding Gap in EU": analysis and EU response - A. Carano EIC, Paris, 13 October 2017 - EIC Federation
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"The Infrastructure Funding Gap in EU":
analysis and EU response
A. Carano
EIC, Paris, 13 October 2017
Investment gap in the EU
Investment (% GDP) in EU28
Note: Gross fixed capital formation as a share of GDP. Source: AMECO and
ECFIN calculations
The €315bn investment plan can bring investments back in line with
historical norms
•Real gross fixed capital formation –
Baseline trend vs. historical norm vs.
investment plan
EU-28, in 2013 prices, € bn •3,03
9 •3,02
1
Historical trend / Baseline forecasts •2,94
0
Investment plan •2,86
9
GFCF historical norm, assuming an •2,86
investment/GDP ratio of 21-22% •2,71 4
4 •2,74
•2,71
•2,64 8
7
0 •2,65 •2,65 •2,64 •2,67
•2,54 7 9 7 •2,60 8
•2,52 3 •2,56 6
7 •2,52 7
8
2,416
•forecasts
1999 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017
3
Total investment as share of GDP
10
15
20
25
30
0
5
1996
1997
1998
1999
2000
IE
2001
Investment trends
2002
2003
EL
2004
2005
ES
2006
2007
2008
IT
2009
2010
CY 2011
2012
2013
2014
PT
2015
Countries heavily hit by the crisis
2016
2017
2018
forecast
20
25
30
35
40
10
15
0
5
10
15
20
25
30
35
40
0
5
1996 1996
1997 1997
1998 1998
1999 1999
2000 2000
BG
EE
2001 2001
2002 2002
CZ
2003 2003
LV
2004 2004
2005 2005
LT
HR
2006 2006
2007 2007
Euro area
2008 2008
Non-euro area
HU
MT
2009 2009
2010 2010
2011 2011
SI
PL
2012 2012
Investment trends
2013 2013
2014 2014
SK
RO
2015 2015
Catching-up countries
2016 2016
2017 2017
2018 2018
forecast
forecast
10
20
25
15
0
5
10
15
20
25
5
0
1996 1996
1997 1997
1998 1998
1999 1999
2000 2000
BE
2001 2001
2002 2002
2003 2003
DE
2004 2004
DK 2005 2005
FR
2006 2006
2007 2007
SE
Euro area
2008 2008
Non-euro area
NL
2009 2009
2010 2010
UK
2011 2011
AT
2012 2012
2013 2013
2014 2014
FI
2015 2015
Other EU countries
2016 2016
2017 2017
2018 2018
forecast
forecast
Investment needs are high
Observed gross investment in tangible goods versus annual investment needs until
2030 (2020 for telecoms) in the network sectors (EUR bn)
(a) Land transport (b) Energy sector (c) Telecommunication
120 200 60
150
80 40
100
40 20
50
0 0 0
2011-2030
2011-2030
2005
2007
2009
2011
2013
2015
2005
2007
2009
2011
2013
2015
2016-2020
2005
2007
2009
2011
2013
2015
Gross investment Gross investment Gross investment
Investment needs Investment needs Investment needs
Source: Commission sources, based on Source Commission sources based on Source: Commission sources based on A
White Paper on Transport, 2011 and European Energy Security Strategy, Digital Single Market for Europe –
Eurostat SBS data. COM/2014/330 and SWD(2014) 255 final Analysis and Evidence; COM/2015/192
and Eurostat SBS data. and Eurostat. SBS data.
6
Investment data by country 1998-2018 (forecast)
Investment in construction by country 1998-2018 (forecast)
Investment Plan for Europe: the three pillars
1. MOBILISING FINANCE 2. MAKING FINANCE
FOR INVESTMENT REACH THE REAL ECONOMY
Mobilise at least €315bn over 3 years for strategic European Investment Project Portal (EIPP)
investments and access to finance via the European European Investment Advisory Hub (EIAH)
Fund for Strategic Investments (EFSI) within EIB/EIF
Cooperation with National Promotional Banks
3. IMPROVED INVESTMENT ENVIRONMENT
Predictability and quality of regulation
Removing non-financial, regulatory barriers in key sectors
within EU Single Market
Structural reforms at national level
9
1. European Fund for Strategic Investments (EFSI)
1011
Funding opportunities for EU transport infrastructure
EU instrument Type of How to apply Available funds
financing (2014-2020)* Blending Call
Connecting Europe Grants (plus Calls for proposal €24.05 billion
Grants from CEF combined
Facility (CEF) CEF Debt implementation from EU budget
with financing from EIB
instrument) financial
(EFSI whenever possible) or
Europ. Investment Loans, Request financing Approx. €13
National Promotional Banks,
Bank incl. EU Fund guarantees, from EIB billion/year
or private sector investors
for Strategic equity EIB financing**
Calls for proposal
Investments (EFSI)
European Grants (plus Request financing €70 billion €1 billion (taken from the
Investment Funds financial from managing from EU budget CEF budget)
(ESIF) instruments) authority
•*To be complemented by Member
Horizon 2020 Grants (plus Calls for proposal, €6.3 billion States & NPBs, and private sector
InnovFin - EU calls for tenders from EU budget funding.
Finance for other actions •** Estimate based on recent trend.
Actual financing will be based on
Innovators)
demand and actual EIB approvals.The European Investment Advisory Hub
Launched in September 2015 as part
of the Investment Plan for Europe, the
EIAH is a tool to strengthen Europe's
investment environment and improve
A joint initiative
the quality of investment projects
A single access point to a comprehensive offer of
advisory and technical assistance services
An instrument to assess and address unmet needs
for advisory support
A cooperation platform to leverage and exchange
expertise from EIAH partners
(National institutions, Managing Authorities)A comprehensive offer of advisory services
DEMAND
Project promoters Public authorities Member States Private sector
Access point
Web content + Web portal + Support team
European Investment Advisory Hub
Existing advisory Additional advisory and EIAH’s partner
programmes and activities technical assistance institutions’ expertise
Delivery channels
Project support throughout the New investment support also Network of institutions incl.
project cycle in areas relevant to the scope EIB Group, European
Support to Financial of EFSI (could be delivered by Commission , National
instruments EIB advisory or operational Promotional Banks, etc.
Enhance access to finance teams) Integrated collaboration model
Identification of needs as they
arise
SUPPLY
14EIPP European
Objectivesofofthe
Objectives thePortal
Portal Investment
Project Portal
The meeting place
European Investment Project Portal (EIPP) for promoters
and investors
ec.europa.eu/eipp
EU Project International
Promoters Investors
Public/Private Community
• Meeting point enabling EU-based project promoters to publish their projects and to
reach potential investors worldwide
• EIPP went live in June 2016 and promoters can submit projects in 24 languages
• Continuous Web development/improvement: for investors and promoters
15Key figures about the EIPP European
as of mid-June 2017
State of play and map view Investment
Project Portal
as of end of May 2017 The meeting place
for promoters
and investors
• 280+ projects submitted and 160+ projects published
• From 25 Member States
• more than 200 project dots on the map (cross-border projects count as one in each project
country)
16Third pillar of the Investment Plan for Europe Unlock the full potential of investment in Europe, by removing bottlenecks to investment, providing greater regulatory predictability, and reinforcing the Single Market Examples of actions at EU level: Capital Markets Union, Digital Single Market, Single Market Strategy and Energy Union Implementation of structural reforms at national level – systematic assessment of the framework conditions for investment under the European Semester
#InvestEU
Investment Plan for
www.ec.europa.eu/invest-eu
Europe
www.eib.org/invest-eu
www.eib.org/efsi
www.eif.org/what_we_do/efsi
EFSI
Contact for promoters: info@eib.org or relevant EIB
Operations department
www.eib.org/eiah
EIAH eiah@eib.org
EIPP www.ec.europa.eu/eippBack-up slides
EIAH requests: overview
Situation as at 31.05.2017
Country
No. of Advisory requests by sector
requests
Italy 39
Bulgaria 36
France 27
United Kingdom 25
Belgium 25
Spain 24
Greece 22
The Netherlands 21
Romania 20
Germany 18
Hungary 17
Poland 16
Portugal 15
Czech Republic 15
Croatia 14
Latvia 13
Austria 10
Finland 9
Lithuania 9
Luxembourg 9 488 requests received since
Ireland 8
Slovakia 8 launch.
Slovenia 7 Promotors received either targeted
Cyprus 7
Denmark 6 advisory support or were
Malta 6 “signposted” to suitable information
Sweden 6
Iceland 2
sources
Estonia 1
Norway 1
Total 436
•13/10/2017 •European Investment Advisory Hub •20Examples
of projects
The Hub is providing the Romanian Ministry of
Health with an exceptional package of assistance
which includes both expertise and funding to
support the preparation of three health
infrastructure projects in underserved areas
The Hub is providing advice to a
consortium of social enterprises
seeking assistance in the
Technical studies in support of the economic
development of their business
justifications for a railway project which aims to
model. EIAH provided advice on
increase capacity of connection between a core
creating a lending platform for the
network port and the Mediterranean corridor
consortium for which the EIB has
approved an EFSI contribution.
•13/10/2017 •European Investment Advisory Hub •21You can also read
