European investment bank eib
1 / 17

European Investment Bank (EIB) - PowerPoint PPT Presentation

  • Uploaded on
  • Presentation posted in: General

European Investment Bank (EIB). EIB Intermediated lending to SMEs in the EU, 2005-2011 “ The evolution of a key operational priority ” 18 June 2013 IEG – OECD/DAC Workshop Evaluating Support to Private Sector Development. Bastiaan de Laat , Evaluation Expert / Team Leader.

I am the owner, or an agent authorized to act on behalf of the owner, of the copyrighted work described.

Download Presentation

European Investment Bank (EIB)

An Image/Link below is provided (as is) to download presentation

Download Policy: Content on the Website is provided to you AS IS for your information and personal use and may not be sold / licensed / shared on other websites without getting consent from its author.While downloading, if for some reason you are not able to download a presentation, the publisher may have deleted the file from their server.

- - - - - - - - - - - - - - - - - - - - - - - - - - E N D - - - - - - - - - - - - - - - - - - - - - - - - - -

Presentation Transcript

European Investment Bank (EIB)

EIB Intermediated lending to SMEs in the EU, 2005-2011

“The evolution of a key operational priority”

18 June 2013

IEG – OECD/DAC Workshop

Evaluating Support to Private Sector Development

Bastiaan de Laat, Evaluation Expert / Team Leader

European Investment Bank

This presentation

  • The EIB Group and SME support

  • Evaluation of EIB Intermediated SME Lending

    • Scope

    • Approach

    • Evidence base

  • Preliminary evaluation outcomes

European Investment Bank

eib group sme support

European Investment Bank

EIB Group and SME Support

  • EIB Group:

    • European Investment Bank (EIB)

    • European Investment Fund (EIF)

  • Variety of tools for SME support:

    • On-lending to SMEs through financial intermediaries (FIs)

    • Venture capital / private equity investment funds

    • Guarantees

    • Special instruments (e.g. RSFF), etc.

European Investment Bank

A variety of productstargetingSMEs

  • L4SMEs

    • largest volume among the SME instruments

    • currently about 70 000 loansp.a. to SMEs

European Investment Bank

EIB Intermediated lending to SMEs

European Investment Bank


¾ of the signed EUR 64 bn volume were to the benefit of 7 Member States

Italy, Spain and France with 55% constitute “top-3”

European Investment Bank

The evaluation

European Investment Bank

Scope and Policy Background

Board request 02/2010

  • implementation of new strategies with respect to SMEs

  • provide insights into the benefits accruing to SMEs

Evaluation response

  • Take account of evolving policy context (2005-2012)

  • Systematic approach through site visits and SME survey

  • Focus: Intermediated lending to SMEs

    • Commercial, co-operative, promotional banks, leasing…

    • From Global Loans (“GLs”) to “Loans for SMEs” (“L4SMEs”)

European Investment Bank

Understanding the policycontext

European Investment Bank

Reconstructing the Intervention Logic

Targeted (eligible) investments:


"improve access to finance"

  • Tangible assets

  • Development, planning, financing costs

  • R&D expenses

  • Transmission

  • Working capital

  • Distribution networks

Financial Intermediaries



(Revised Lisbon Strategy : 2005)




bps, tenor, volume…







European Investment Bank

Identifying objectives

Intermediated SME Lending

  • Operational

    • to extend finance to eligible SMEs (signed and disbursed to FI, then “allocated” to SMEs by FI)

  • Intermediate

    • to provide such funding at improved conditions

    • to improve access to finance?

  • Global

    • to enhance the competitiveness of SMEs, ultimately, generating a positive impact on economic growth and employment

European Investment Bank

Evidence base

The aim is to assess ALL links within the intervention logic (EIB, FI, SME, wider economy), and each preferably with multiple methods

  • Initially, 20 operations selected

    • Geographic spread, number of SMEs, loan size, disbursement level, loans vs. leasing, public vs. private, and repeat vs. single operations: “lessons learnt”

    • 18 different financial intermediaries (FI), 11 countries

    • Commercial, co-operative, promotional, leasing, etc.

    • Some 15 000 SMEs benefitted

    • Delivery mechanisms: GL => L4SME

  • 19 in-depth evaluations

    • FI comparative portfolio analysis & other desk research

    • Interviews with FI HQ & front office personnel

  • 74 SME site visits & interviews

  • Large-scale SME survey (1003 respondents)

European Investment Bank

Six evaluationcriteria

  • Relevance

  • Effectiveness

  • Efficiency

  • Sustainability

  • EIB Added Value

  • EIB Management of the operation

  • Eachcriterion for eachoperationrated on a 4 point scale

European Investment Bank

Evaluation outcomes

European Investment Bank

Main evaluationfindings

  • Highly consistent with EU and EIB objectives

  • Increased relevance due to the crisis

  • L4SME product “says what it does and does what it says”

  • Higher awareness among SME about EIB origin of funding - more comfort about funding advantage being actually passed on (web, contract, front office, etc.)

  • Evaluation results trigger reflection on

    • Targeted vs. volume-driven instruments

    • Contribution to growth and employment

    • Fine-tuning to national SME finance needs

European Investment Bank

Thank you!!

European Investment Bank

  • Login