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The EU Investment Plan and ESI funds

The EU Investment Plan and ESI funds. Structured Dialogue with ESIF partners group of experts Brussels, 23 April 2015. The Investment Plan for Europe ESIF and the Investment Plan. The Investment Plan for Europe. THE EU INVESTMENT TRIANGLE. MOBILISING FINANCE FOR INVESTMENT.

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The EU Investment Plan and ESI funds

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  1. The EU Investment Plan and ESI funds Structured Dialogue with ESIF partners group of experts Brussels, 23 April 2015

  2. The Investment Plan for Europe • ESIF and the Investment Plan

  3. The Investment Plan for Europe

  4. THE EU INVESTMENT TRIANGLE MOBILISING FINANCE FOR INVESTMENT MAKING FINANCE REACH THE REAL ECONOMY • Strong boost to strategic investments • Better access to investment finance for SMEs and mid-cap companies • Strategic use of EU budget • Better use of the European Structural and Investment Funds • Project pipeline preparation and selection • Technical assistance at all levels • Strong cooperation between National Promotional Banks and the EIB • Follow-up at global, EU, national and regional level, including outreach activities IMPROVED INVESTMENT ENVIRONMENT • Predictability and quality of regulation • Quality of national expenditure, tax systems and public administration • New sources of long-term financing for the economy • Removing non-financial, regulatory barriersin key sectors within our Single Market

  5. EUR 5 bn EU guarantee EUR 16 bn* Possibleotherpublicand private contributions European Fund for Strategic Investments EUR 21 bn EUR 5 bn EUR 16 bn x 15 Long-term investments circa EUR 240 bn SMEs and mid-cap firms circa EUR 75 bn Total extra over 2015-17: circa EUR 315 bn** * 50% guarantee = EUR 8 bn from Connecting Europe Facility (3.3), Horizon 2020 (2.7) and budget margin (2)** Net of the initial EU contributions used as guarantee: EUR 307 bn 5

  6. Mobilising finance for investment – leverage Over three years Positive impacton investmentthroughouttheeconomy 'overall doubling' > EUR 20bn Priorities at national and regional level (e.g. SMEs, research, transport, environment) Impact of Member States' contributions to the Fund EUR 315 bn SMEs and mid-cap companies EUR 20 bn (at least) Will depend on commitment Improved investment environment at EU and national level Strategic investments of European significance in energy, transport, broadband, education, research and innovation Better use of the European Structural and Investment Funds EUR 75 bn Possible Member States' contributionstothe Fund EUR 240 bn European Fund for Strategic Investments: EUR 21 bn (initially)

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  8. II. ESIF and the Investment Plan for Europe

  9. Investment Plan for Europe • ≥ EUR 315bn • Long-term investments • SMEs and mod-cap firms European Fund for StrategicInvestment (EFSI) 1. Mobilise finance for investment • ≥ EUR 20bn additional investment for 2015-2017 • SMEs • Research • Transport • Environment Better use of ESI Funds i.a. extensive use of Financial Instruments 2. Make finance reach the real economy • JASPERS • FI-Compass 2. Make finance reach the real economy Technical Assistance 3. Improve investment environment 3. Improve investment environment Ex-ante Conditionalities

  10. Leverage Effect Leverage Effect Financial Instruments (FI)Resource-efficient way of using EU budget funds to enable investment in the economy Initial EU Investment Total Investment Target Total Investment Through loans, guarantees, equity, venture capital, etc. • 2014-2020 • What's New? • Regulation: FI extended to ALL thematic objectives and all ESIF funds • Additional support: FI Compass –advisory service, 'off-the shelf' instruments, • guidance documentation TARGETS • At least an overall doubling of the use of FI (EUR 12bn to ± 30bn)

  11. Doubling of financial instruments • Financial instruments are particularly effective to increase the impact of ESIF • An overall doubling of the use of financial instruments in 2014-2020 relative to 2007-2013 (increase from EUR 12 billion to close to EUR 30 billion) is an ambitious but realistic target • This extra EUR 18 billion could leverage additional investments between EUR 40-70bn (of which at least EUR 20bn in first three years) 11

  12. How is this target achievable? % to deliver through financial instruments: • 5% Research, Development and Innovation • 10% ICT • 50% SME support • 20% low carbon economy • 5% environment and resource efficiency • 10% sustainable transport 12

  13. Why is this target achievable? • Legal framework for 2014-2020 is open to all thematic objectives and widens implementation options • SME Initiative is up and running: ES signature on 26th January • "Off-the-shelf instruments": ready-to-use and state aid cleared templates for financial instruments • Fi-compass: knowledge hub for guidance and advice on financial instruments http://www.fi-compass.eu/ 13

  14. Thank you for your attention!

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