The FINANCIAL — EIB Vice President Ambroise Fayolle has spoken at a workshop in Brussels for investors, EU Member States and project promoters about the Investment Plan for Europe and the EIB’s role as manager of the European Fund for Strategic Investments (EFSI).
During the event, Vice President Fayolle underscored the importance of the initiative for catalysing private investment in support of projects which are key to Europe’s growth perspectives, such as innovation, infrastructure, energy efficiency and projects promoted by small businesses. He also took the opportunity to welcome the participation of EU Member States and National Promotional Banks that are contributing to the Investment Plan’s effort to revive investment in strategic projects around Europe. “We are working with the NPBs to develop concrete products to help reach the target of unlocking additional investment of at least EUR 315bn over the next three years. This is particularly important when we consider the need to identify and prioritise projects to ensure that money reaches the real economy.”
A key message from the conference which at which both Vice President Fayolle and European Commissioner, Jyrki Katainen delivered keynote speeches, was the need for real collaboration between the European Commission and Member States to implement pro-business and pro-investment measures, restoring investors’ confidence in the future, and enabling EFSI to find a strong pipeline of bankable projects. “EFSI is demand-driven; the EIB Group makes risk-absorbing financing available but we are not project promoters so we cannot make the projects happen.” The EIB Vice President reminded participants that of the wide scope of the Investment Plan and called on entities from both the public and private sector and of all sizes to apply for EFSI financing, according to EIB.