Financing Urban Sustainable Development

Save this PDF as:
 WORD  PNG  TXT  JPG

Size: px
Start display at page:

Download "Financing Urban Sustainable Development"

Transcription

1 Financing Urban Sustainable Development Policies and Instruments for Financing Urban Sustainability: an Italian perspective Andrea Martinez Deputy Managing Director - Sinloc SpA 1

2 AGENDA SINLOC BRIEF DESCRIPTION EU FINANCIAL INSTRUMENTS JESSICA

3 SINLOC A snapshot SINLOC supports and invests in Local Development initiatives through Public Private Partnership procedures, creating value for Investors and Communities Equity Investment SINLOC invests its financial resources in PPP initiatives, as an equity investor in special purpose vehicles set up for the building and management of the project Advisory SINLOC operates as a strategic, economic and financial advisor, supporting decisions of Local Administrations, Institutions, Banking Foundations and Private Companies Management Company SINLOC is a Management Company and/or a Technical Advisor of investment vehicles and provides activities such as investment strategy definition, project scouting, investment structuring, financial closing and monitoring

4 SINLOC Some numbers EQUITY INVESTMENT 20 investments for a capex in excess of 400 mln/ set up sub holdings and management of investment companies activating further 200 mln/ of projects ADVISORY More than 80 Feasibility Studies carried out Start-up and management of 4 Regional Social Housing Funds (Target AUM 310 mln/ ) Advisory to 4 Regional Authorities in the set up of EU Financial Instruments MANAGEMENT COMPANY Co-management of 3 JESSICA Urban Development Funds (115 mln/ EU funds mln/ co-financing) Social and Technical assistant of 3 Social Housing Funds FINANCIAL ARRANGEMENT Advisory to 3 Provinces under the ELENA initiative (more than 210 mln/ EIB related financing) SINLOC negotiated and supported the financial and contractual closing of more than 12 initiatives with a total value of more than 600 mln/

5 EU FINANCIAL INSTRUMENTS Definition Financial instruments (FI) co-funded by the European Structural and Investment Funds (ESIF) are an efficient way to invest in sustainable urban development FIs can be set-up by Member States and regions to invest available ESIF funding through financial products such as loans, guarantees, equity and other risk-bearing mechanisms (*) Fis are an impact investment asset class to finance projects with positive but too high risk reward ratio (in particular market failure)

6 EU FINANCIAL INSTRUMENTS Opportunities and risks OPPORTUNITES Leverage effect at the FI and project level Program and project ex ante assessment Clear targets, deadlines and risk allocation High stake of the management fee is performance based Revolving funds will return to the MA RISKS High level of bureaucratic complexity Project planning having in mind grant financing Misallocation of risk between the Public Body and the FI Inadequate investment period (just 1 FI implemented up to now in ITA in the 2014/2020 period)

7 JESSICA The JESSICA initiative in Italy (1/2) In the 2007/13 programming period the EIB and three Italian Regions implemented the JESSICA initiative JESSICA CAMPANIA Urban Development 1 (32 mln OP+32 mln cofin.) Urban Development 2 (66 mln OP) JESSICA SARDEGNA Urban Development (33 mln OP + 99 mln cofin.) Energy (33 mln OP + 66 mln cofin.) JESSICA SICILIA Urban Development (90 mln OP + cofin.) Energy (53 mln OP + 55 mln cofin.)

8 JESSICA The JESSICA initiative in Italy (2/2) Notwithstanding a complex market and normative context, the Funds contributed significantly to the deployment of local infrastructures and capacity building SARDINIA CAMPANIA (*) SICILY (*) OP resources and leverage 33 mln OP => more than 140 mln capex 32 mln OP => about 80 mln capex 52 mln OP => about 76 mln capex Project typologies 3 PPP 2 Corporate lending 4 Public financing 1 Corporate lending 2 Public financing 1 PPP 2 Corporate lending 17 Public financing Sectors Gas network, cruise terminal, healthcare structure, transport, swimming pool Public lighting, industrial area regeneration, local market Public lighting, energy efficiency in public buildings, local transport (*) Some project are currently still at financial close stage

9 CONCLUSIONS AND RECOMMENDATIONS EU Financial instruments represent an opportunity to finance urban development initiatives under "market failure" conditions To support Financial Instruments it is important to: Give them a coherent investment period Leave them free to invest in projects coherent with their aims (the lower the bureaucracy, the higher the result) Allow them to risk (equity is scarcer than debt and it has an higher potential impact on projects) "Force" them to support local authorities to improve their competences in terms of PPP and innovative financing

30 November 2010. Latest developments of EIF JEREMIE Activities. Hubert Cottogni. Head of Regional Business Development

30 November 2010. Latest developments of EIF JEREMIE Activities. Hubert Cottogni. Head of Regional Business Development Hubert Cottogni Head of Regional Business Development 30 November 2010 Latest developments of EIF JEREMIE Activities This presentation was prepared by EIF. The information included in this presentation

More information

Financial Instruments for delivery of the ESF. Seminar 21 October 2015 Rome, Italy. Preliminary programme. www.fi-compass.eu

Financial Instruments for delivery of the ESF. Seminar 21 October 2015 Rome, Italy. Preliminary programme. www.fi-compass.eu Financial Instruments for delivery of the ESF Seminar 21 October 2015 Rome, Italy Preliminary programme www.fi-compass.eu Financial Instruments for delivery of the ESF Index Context... 3 Information...

More information

Financial Instruments supported by the European Structural and Investment (ESI) Funds in 2014-2020. MADRID, 7 November 2013

Financial Instruments supported by the European Structural and Investment (ESI) Funds in 2014-2020. MADRID, 7 November 2013 Financial Instruments supported by the European Structural and Investment (ESI) Funds in 2014-2020 MADRID, 7 November 2013 Financial instruments and IFI Relations Directorate-General for and Urban 1 Contents

More information

Fabio Travagliati European Policies and Managing Authority ERDF and ESF Marche Region

Fabio Travagliati European Policies and Managing Authority ERDF and ESF Marche Region MARTE project Marche Region Technical assistance for healthcare buildings Energy retrofit IEE/13/465 Energy Fund: Working group and first steps Fabio Travagliati European Policies and Managing Authority

More information

Financial Instruments for delivery of the ESF. Seminar 21 October 2015 Rome, Italy. Programme. www.fi-compass.eu

Financial Instruments for delivery of the ESF. Seminar 21 October 2015 Rome, Italy. Programme. www.fi-compass.eu Financial Instruments for delivery of the ESF Seminar 21 October 2015 Rome, Italy Programme www.fi-compass.eu Financial Instruments for delivery of the ESF Index Context... 3 Information... 4 Objectives...

More information

Financial instruments in ESIF programmes 2014-2020

Financial instruments in ESIF programmes 2014-2020 DATE Ref. Ares(2014)2195942-02/07/2014 EUROPEAN COMMISSION Financial instruments in ESIF programmes 2014-2020 A short reference guide for Managing Authorities This short reference guide is designed to

More information

JESSICA Holding Fund Handbook

JESSICA Holding Fund Handbook JESSICA Holding Fund Handbook J o i n t E u r o p e a n S u p p o r t f o r S u s t a i n a b l e I n v e s t m e n t i n C i t y A r e a s JESSICA Holding Fund Handbook J o i n t E u r o p e a n S u

More information

Financial instruments in ESIF programmes 2014-2020

Financial instruments in ESIF programmes 2014-2020 DATE Ref. Ares(2014)4149039-10/12/2014 EUROPEAN COMMISSION Financial instruments in ESIF programmes 2014-2020 A short reference guide for managing authorities This short reference guide is designed to

More information

Ministero dello Sviluppo Economico

Ministero dello Sviluppo Economico Ministero dello Sviluppo Economico Marcello Capra Department of Energy (Italian Delegate European SET Plan) EU and Italian Policy on Smart City European Smart City Conference Green City Energy ONtheSEA

More information

JESSICA. A new way of using EU funding to promote sustainable investments and growth in urban areas. What is JESSICA?

JESSICA. A new way of using EU funding to promote sustainable investments and growth in urban areas. What is JESSICA? JESSICA A new way of using EU funding to promote sustainable investments and growth in urban areas What is JESSICA? JESSICA stands for Joint European Support for Sustainable Investment in City Areas. This

More information

Financial instruments in ESIF programmes 2014-2020. A short reference guide for managing authorities

Financial instruments in ESIF programmes 2014-2020. A short reference guide for managing authorities Financial instruments in ESIF programmes 2014-2020 A short reference guide for managing authorities December 2014 EGESIF_14_0038-03 10 December 2014 EUROPEAN COMMISSION Financial instruments in ESIF programmes

More information

Financing Energy Infrastructure Energy Efficiency Financing Case Studies from the EU. Fiona Tutty MSc BSc Director

Financing Energy Infrastructure Energy Efficiency Financing Case Studies from the EU. Fiona Tutty MSc BSc Director Financing Energy Infrastructure Energy Efficiency Financing Case Studies from the EU Fiona Tutty MSc BSc Director Agenda Context Summary of Financial Instruments 4 Case studies on Financed Energy Efficiency

More information

Cassa depositi e prestiti. Cassa depositi e prestiti Supporting the Country

Cassa depositi e prestiti. Cassa depositi e prestiti Supporting the Country Cassa depositi e prestiti Cassa depositi e prestiti Supporting the Country Cassa Depositi e Prestiti is a key partner for public entities, the development of infrastructure projects and the growth and

More information

Wind Farm Project Finance

Wind Farm Project Finance Wind Farm Project Finance Financing and Technical Requirements Gabriele Ferrante PPP Task Force, Presidency of the Council of Ministers, Italy Models and Strategies for Public-Private Private Partnerships

More information

Facilitating quality investment EIB Advisory Services

Facilitating quality investment EIB Advisory Services Facilitating quality investment EIB Advisory Services Committee of the Regions 15th April 2015 Simon Barnes 16/04/2015 European Investment Bank Group 1 How advisory support can help Assist to build local

More information

European Investment Fund Activity

European Investment Fund Activity European Investment Fund Activity Annual commitments 2006-2009 3540 3040 2540 2040 1540 1040 540 40 Equity Guarantees The EIF is Europe s leading developer of risk financing for entrepreneurship and innovation.

More information

FINANCING PPP IN INTESA SANPAOLO GROUP

FINANCING PPP IN INTESA SANPAOLO GROUP FINANCING PPP IN INTESA SANPAOLO GROUP Bulgaria Italy Bilateral Cooperation Project Models and Strategies for Public-Private Partnership Rome, 23 rd October 2007 Intesa Sanpaolo Group - Overview Intesa

More information

eeef - European Energy Efficiency Fund Investing into Energy Efficiency Projects: why and how? November 6 2014, Brussels

eeef - European Energy Efficiency Fund Investing into Energy Efficiency Projects: why and how? November 6 2014, Brussels eeef - European Energy Efficiency Fund Investing into Energy Efficiency Projects: why and how? November 6 2014, Brussels Advancing Sustainable Energy for Europe Agenda 1 eeef - key elements 2 Implemented

More information

Cassa depositi e prestiti. Cassa depositi e prestiti Supporting the Country

Cassa depositi e prestiti. Cassa depositi e prestiti Supporting the Country Cassa depositi e prestiti Cassa depositi e prestiti Supporting the Country Cassa Depositi e Prestiti is a key partner for public entities, the development of infrastructure projects and the growth and

More information

ESIF Financial Instruments

ESIF Financial Instruments ESIF Financial Instruments 3 rd COTER meeting, 12 May 2015 Björn Gabriel Senior Adviser, Head of fi-compass, Advisory Services, European Investment Bank 19/05/2015 European Investment Bank 1 ESIF financial

More information

Lessons learnt with JESSICA instruments University Research Sponsorship Action EIBURS

Lessons learnt with JESSICA instruments University Research Sponsorship Action EIBURS Lessons learnt with JESSICA instruments University Research Sponsorship Action EIBURS Urban Development Funds in Europe: Opportunities, Structures, Operations Conference at TU Dortmund, Friday 26th August

More information

The Role of Long Term Institutional Investors in Financing Infrastructure

The Role of Long Term Institutional Investors in Financing Infrastructure INVESTMENT AND INVESTMENT FINANCE THE SUPPLY AND DEMAND OF LONG TERM FINANCE Moscow, February 13-14, 2013 The Role of Long Term Institutional Investors in Financing Infrastructure Franco BASSANINI Chairman,

More information

eeef European Energy Efficiency Fund

eeef European Energy Efficiency Fund eeef European Energy Efficiency Fund Agenda 1 introduction to eeef - key elements 2 eeef investments: eligibility, process and project structures 3 Case studies 4 Final Remarks 2 1a eeef at a glance Objective

More information

Promoting Economic and Social Cohesion in Europe

Promoting Economic and Social Cohesion in Europe Promoting Economic and Social Cohesion in Europe The EIB helps to deliver growth, jobs and cohesion in Europe by supporting the implementation of EU regional policy. Through a mixture of loans and advisory

More information

Public-Private Partnerships

Public-Private Partnerships Public-Private Partnerships Closing Critical Issues Washington, Background In limited recourse finance, the primary source of debt service is the cash flow generated by the Project will evaluate all factors

More information

Offering to LEP s in respect of Financial Instruments Strategies for European Structural Investment Funds ( ESIF )

Offering to LEP s in respect of Financial Instruments Strategies for European Structural Investment Funds ( ESIF ) Offering to LEP s in respect of Financial Instruments Strategies for European Structural Investment Funds ( ESIF ) Dear LEP Representative As you consider the options for an ESIF-backed Financial Instruments

More information

Financing FTTH networks Study for FTTH Council Europe

Financing FTTH networks Study for FTTH Council Europe Financing FTTH networks Study for FTTH Council Europe Munich, 16 th February 2012 Roland MONTAGNE Director Telecoms Business Unit r.montagne@idate.org Dr. Raul Katz President, Telecom Advisory Services

More information

2012 Preliminary Results and Facts

2012 Preliminary Results and Facts 2012 Preliminary Results and Facts January 2013 Mission CDP: joint stock company under public control, minority stake owned by broad group of private banking foundations MISSION: SUPPORTING ITALY S GROWTH

More information

Covenant Territorial Coordinators:

Covenant Territorial Coordinators: re Covenant Territorial Coordinators: Crucial contributors to the Covenant of Mayors success Covenant Territorial Coordinators (CTCs) are those public administrations which provide strategic guidance,

More information

II ENPCOM MEETING Models of interaction between the public and private sector in transport and housing

II ENPCOM MEETING Models of interaction between the public and private sector in transport and housing II ENPCOM MEETING Models of interaction between the public and private sector in transport and housing Financial tools in energy efficiency projects under PPP schemes Piero Atella 22-25 Giugno 2014 Bruxelles

More information

B U I L D I N G P A R T N E R S H I P S F O R E N E R G Y S E C U R I T Y www.inogate.org

B U I L D I N G P A R T N E R S H I P S F O R E N E R G Y S E C U R I T Y www.inogate.org "INOGATE Technical Secretariat & Integrated Programme in support of the Baku Initiative and the Eastern Partnership energy objectives" Project B U I L D I N G P A R T N E R S H I P S F O R E N E R G Y

More information

Making investment opportunities for farmers and rural businesses with the EAFRD FIs ESTONIA

Making investment opportunities for farmers and rural businesses with the EAFRD FIs ESTONIA Making investment opportunities for farmers and rural businesses with the EAFRD FIs ESTONIA Merle Saaliste Estonian Ministry of Agriculture, 24.06.2015 Content: 1. Why FIs from the EAFRD? 2. Ex ante assessment

More information

-> Difficulties with access to finance -> the inherent complexity the innovation process -> and administrative / regulatory burdens.

-> Difficulties with access to finance -> the inherent complexity the innovation process -> and administrative / regulatory burdens. 1 Entrepreneurship is about two things. It means, of course, fostering the creation of new start-ups. But entrepreneurship refers also to a mindset, that should be stimulated at each stage of a company

More information

Financing PPPs: Project Finance June 2006

Financing PPPs: Project Finance June 2006 Financing PPPs: Project Finance June 2006 Index Section I. Section II. Section III. Project Finance Spanish Market Advantages Risk Matrix P. 2 Section I Project Finance Project Finance Definition Definition:

More information

Presentation of the new financial instrument for urban renewal

Presentation of the new financial instrument for urban renewal Presentation of the new financial instrument for urban renewal 1 Agenda 1 Presentation of IFRRU 2020 2 Main Tasks in the implementation of IFRRU 2020 3 Planning IFRRU 2020 4 Goals to achieve 2 1 Presentation

More information

Office of Economic Development Finance Infrastructure Bank Paper

Office of Economic Development Finance Infrastructure Bank Paper White Paper Infrastructure Banks A national infrastructure bank has been proposed regularly over the past several years; governors in Massachusetts and New York have proposed or funded such banks; and

More information

EIB and the Energy Sector: Potential Synergies with the MED Programme to Support Energy Efficiency Investments

EIB and the Energy Sector: Potential Synergies with the MED Programme to Support Energy Efficiency Investments EIB and the Energy Sector: Potential Synergies with the MED Programme to Support Energy Efficiency Investments Marina Galindo Energy Efficiency and Small Energies Division Projects Directorate EUROPEAN

More information

Financial instruments - opportunities offered by the 2014-2020 framework. Key novelties and Commission guidance Bratislava, 2 October 2015

Financial instruments - opportunities offered by the 2014-2020 framework. Key novelties and Commission guidance Bratislava, 2 October 2015 Financial instruments - opportunities offered by the 2014-2020 framework Key novelties and Commission guidance Bratislava, 2 October 2015 2014-2020 framework Ø Performance oriented legal framework to promote

More information

Agenda. Who we are. Our services. Contacts. Page 2. 1.1 The Company, our values and consulting approach. 1.2 Partners. Page 3. 2.1 Areas of activity

Agenda. Who we are. Our services. Contacts. Page 2. 1.1 The Company, our values and consulting approach. 1.2 Partners. Page 3. 2.1 Areas of activity Agenda Who we are 1.1 The Company, our values and consulting approach 1.2 Partners Page 2 Page 3 Our services 2.1 Areas of activity 2.2 Services Page 5 Page 6 Contacts 3.1 Contacts Page 8 1 Who we are

More information

Solutions for transport investments Investors' expertise for project financing. M.Sc. Sibil Svilan, president of the board

Solutions for transport investments Investors' expertise for project financing. M.Sc. Sibil Svilan, president of the board Solutions for transport investments Investors' expertise for project financing M.Sc. Sibil Svilan, president of the board Slovenia s geo-strategic position The Adriatic-Baltic and Mediterranean transport

More information

E U R O P E A N F U N D F O R S T R A T E G I C I N V E S T M E N T S

E U R O P E A N F U N D F O R S T R A T E G I C I N V E S T M E N T S EUROPEAN INVESTMENT BANK SB/06/15 4 December 2015 Document 13-2015 FOR DECISION E U R O P E A N F U N D F O R S T R A T E G I C I N V E S T M E N T S S T E E R I N G B O A R D EIF- EFSI MULTIPLIER CALCULATION

More information

London Green Fund Selection of Waste Urban Development Funds IR-893. Questions and Answers

London Green Fund Selection of Waste Urban Development Funds IR-893. Questions and Answers London Green Fund Selection of Waste Urban Development Funds IR-893 Questions and s Question 1. What restriction, if any, will be placed on the waste UDF s ability to re-invest the initial commitment of

More information

London Green Fund. Case Study. supporting London s transition to a low carbon economy

London Green Fund. Case Study. supporting London s transition to a low carbon economy - ERDF - EUR 479 million - Loan, equity - Energy efficiency and waste - United Kingdom London Green Fund supporting London s transition to a low carbon economy DISCLAIMER This document has been produced

More information

Financial Instruments delivering ESI Funds. Athens, Greece 3 December 2015. Programme. www.fi-compass.eu

Financial Instruments delivering ESI Funds. Athens, Greece 3 December 2015. Programme. www.fi-compass.eu Financial Instruments delivering ESI Funds Athens, Greece 3 December 2015 Programme www.fi-compass.eu Financial Instruments delivering ESI Funds Index Context... 3 Audience/ venue... 4 Language/ costs

More information

EIB Financing tools for e-health and other ICT based innovation

EIB Financing tools for e-health and other ICT based innovation EIB Financing tools for e-health and other ICT based innovation Harald Gruber Conference on Accelerating Uptake of Innovation for active and healthy ageing across Europe Brussels, 9-10 December 2015 European

More information

eeef - European Energy Efficiency Fund

eeef - European Energy Efficiency Fund eeef - European Energy Efficiency Fund Agenda 1 2 3 Introduction to eeef Eligibility check for projects Technical Assistance 4 Potential project structures 5 Case Studies 2 eeef at a glance Objective Beneficiaries

More information

The Role of the European Investment Bank: Funded Case Studies

The Role of the European Investment Bank: Funded Case Studies The Role of the European Investment Bank: Funded Case Studies Harald Gruber European Investment Bank Contribution to Workshop Building the European Digital Infrastructure Brussels, 20 June 2012 EIB Broadband

More information

Liberia Leasing Investment Forum

Liberia Leasing Investment Forum Finance Leasing in Liberia: Unlocking Accelerated Market and Business Development Long Term Financing for Leasing The Venture Capital Option. Dr. Anthony O. Oboh Ph.d Managing Director/CEO, UVC and Fund

More information

EAFRD Financial Instruments for agriculture and rural development in 2014-2020. Seminar 1 October 2015 Vienna, Austria. Programme. www.fi-compass.

EAFRD Financial Instruments for agriculture and rural development in 2014-2020. Seminar 1 October 2015 Vienna, Austria. Programme. www.fi-compass. EAFRD Financial Instruments for agriculture and rural development in 2014-2020 Seminar 1 October 2015 Vienna, Austria Programme www.fi-compass.eu EAFRD Financial Instruments for agriculture and rural development

More information

FROM BILLIONS TO TRILLIONS:

FROM BILLIONS TO TRILLIONS: FROM BILLIONS TO TRILLIONS: MDB Contributions to Financing for Development In 2015, the international community is due to agree on a new set of comprehensive and universal sustainable development goals

More information

COSME Financial Instruments for SMEs

COSME Financial Instruments for SMEs COSME Financial Instruments for SMEs Stockholm, 4 February 2015 Directorate-General for Internal Market, Industry, Entrepreneurship and SMEs (DG GROW) Unit F3: SME Access to Finance Astrid Bartels (Policy

More information

E U R O P E A N F U N D F O R S T R A T E G I C I N V E S T M E N T S

E U R O P E A N F U N D F O R S T R A T E G I C I N V E S T M E N T S EUROPEAN INVESTMENT BANK SB/04/15 26 October 2015 Document 06-2015 FOR DECISION E U R O P E A N F U N D F O R S T R A T E G I C I N V E S T M E N T S S T E E R I N G B O A R D EFSI Multiplier Methodology

More information

Access to finance for. SMEs. István NÉMETH European Commission DG for Internal Market, Industry, Entrepreneurship and SMEs

Access to finance for. SMEs. István NÉMETH European Commission DG for Internal Market, Industry, Entrepreneurship and SMEs Access to finance for SMEs István NÉMETH European Commission DG for Internal Market, Industry, Entrepreneurship and SMEs Why EU intervention needed? EU financial instruments for SMEs Building on success

More information

EIB s Debt Financial Instruments under the Connecting Europe Facility

EIB s Debt Financial Instruments under the Connecting Europe Facility EIB s Debt Financial Instruments under the Connecting Europe Facility 2015 CEF Energy Info Day Brussels, 16 th March 2015 C Murphy & A Zambrano European Investment Bank 1 A short outline CEF Overview of

More information

The European Agricultural Fund for Rural Developement. Financial instruments

The European Agricultural Fund for Rural Developement. Financial instruments advancing with ESIF financial instruments The European Agricultural Fund for Rural Developement co-funded by the European Agricultural Fund for Rural Development are a sustainable and efficient way to

More information

Taking advantage of debt financing and other investment options

Taking advantage of debt financing and other investment options Taking advantage of debt financing and other investment options What opportunities are there for you today? Amsterdam, 28 January 2014 Bert van der Toorn Managing Director, Head of Oil and Gas, Europe

More information

Innovation and PPP financing: The European Investment Fund

Innovation and PPP financing: The European Investment Fund Innovation and PPP financing: The European Investment Fund Dr. Helmut Kraemer-Eis Head of Research & Market Analysis European Investment Fund UNECE - 12 February 2014 Geneva What is the EIF? As part of

More information

Joint SME Initiative. European Commission, July 2013

Joint SME Initiative. European Commission, July 2013 Joint SME Initiative European Commission, July 2013 1 Table of content 1. Background 2. Commission's proposal 3. Opinion of the HLG 4. Commission's priorities 2 1. Background EU / Commission long history

More information

Public Private Partnerships Whose risk and whose reward? Professor Jean Shaoul Manchester Business School University of Manchester

Public Private Partnerships Whose risk and whose reward? Professor Jean Shaoul Manchester Business School University of Manchester Public Private Partnerships Whose risk and whose reward? Professor Jean Shaoul Manchester Business School University of Manchester PPPs- financing public infrastructure Private sector takes out loan Higher

More information

Financial Instruments for RDI and Growth 2014-2020 (specific focus on COSME and Horizon 2020)

Financial Instruments for RDI and Growth 2014-2020 (specific focus on COSME and Horizon 2020) Financial Instruments for RDI and Growth 2014-2020 (specific focus on COSME and Horizon 2020) Jean-David MALO European Commission - DG Research and Innovation Head of Unit RTD C-03 Financial Engineering

More information

Ex-ante assessment methodology for financial instruments in the 2014-2020 programming period. General methodology covering all thematic objectives

Ex-ante assessment methodology for financial instruments in the 2014-2020 programming period. General methodology covering all thematic objectives Ex-ante assessment methodology for financial instruments in the 2014-2020 programming period General methodology covering all thematic objectives Volume I Please note that this version of the methodology

More information

Introduction to Australian Real Estate Debt Securities

Introduction to Australian Real Estate Debt Securities 1 Introduction Introduction to Australian Real Estate Debt Securities Superannuation fund investors and managers have for a long time invested in real estate as part of their asset allocation in the belief

More information

1stH 2014 CONSOLIDATED RESULTS

1stH 2014 CONSOLIDATED RESULTS Gruppo 1stH 2014 CONSOLIDATED RESULTS Conference Call 1 Contents Financial highlights Ascopiave Group structure as of June, 30th 2014 Application of IFRS 11 international accounting standard 1stH 2013

More information

PPP Seminar : Health Royal Liverpool Hospital Case study

PPP Seminar : Health Royal Liverpool Hospital Case study PPP Seminar : Health Royal Liverpool Hospital Case study Gavin Quantock Deloitte Corporate Finance 23 July 2014 Case study Royal Liverpool hospital PPP and Health Background Deloitte involvement Structure

More information

The use of EU funding for energy efficiency in buildings in the EU and Hungary

The use of EU funding for energy efficiency in buildings in the EU and Hungary The use of EU funding 2014-2020 for energy efficiency in buildings in the EU and Hungary Structure Introduction 1.EU level Legislation, funding opportunities, examples, success stories, recommendations

More information

Financial Instruments delivering ESI Funds. Malta 25 January Programme.

Financial Instruments delivering ESI Funds. Malta 25 January Programme. Financial Instruments delivering ESI Funds Malta 25 January 2016 Programme www.fi-compass.eu Financial Instruments delivering ESI Funds Index Context... 3 Audience/ venue... 4 Language/ costs / registration...

More information

Methorios Capital. Small Cap Conference. Milan, 29th November 2012 Borsa Italiana Palazzo Mezzanotte 11.30 Room Gialla

Methorios Capital. Small Cap Conference. Milan, 29th November 2012 Borsa Italiana Palazzo Mezzanotte 11.30 Room Gialla Methorios Capital Small Cap Conference Milan, 29th November 2012 Borsa Italiana Palazzo Mezzanotte 11.30 Room Gialla 2 Methorios Capital Group Business overview Key Numbers & Strategies 3 3 Overview Methorios

More information

PROJECT FINANCE & PPPs

PROJECT FINANCE & PPPs PROJECT FINANCE & PPPs EIB Presentation, BOAD, 40 th Anniversary 1 14 November 2013 Definition of PPPs 1) An agreement between a government and one or more private partners whereby the private partner(s)

More information

Next Steps for the European Electricity Market Infrastructure and Market Design

Next Steps for the European Electricity Market Infrastructure and Market Design Next Steps for the European Electricity Market Infrastructure and Market Design John Sinner European Investment Bank 05/05/2015 Outline of the Presentation The Internal Energy Market and EU Policy Energy

More information

Public Private Partnerships For infrastructure in Central Asia. Eduardo Araral

Public Private Partnerships For infrastructure in Central Asia. Eduardo Araral Public Private Partnerships For infrastructure in Central Asia Eduardo Araral OUTLINE What Why Status of PPP in CAREC Who are the players How to WHAT IS PPP? PPP covers a wide variety of arrangements for

More information

2015 GROUP COMPENSATION POLICY SIDE PRESENTATION. 13 April 2015 UniCredit Human Resources Strategy

2015 GROUP COMPENSATION POLICY SIDE PRESENTATION. 13 April 2015 UniCredit Human Resources Strategy 2015 GROUP COMPENSATION POLICY SIDE PRESENTATION 13 April 2015 UniCredit Human Resources Strategy OBJECTIVE OF THE DOCUMENT The purpose of this presentation is to provide an overview of the key elements

More information

Opportunities for the Automotive Sector in Horizon 2020. Cliff Funnell UK FP7/H2020 Surface Transport NCP FP7UK

Opportunities for the Automotive Sector in Horizon 2020. Cliff Funnell UK FP7/H2020 Surface Transport NCP FP7UK Opportunities for the Automotive Sector in Horizon 2020 Cliff Funnell UK FP7/H2020 Surface Transport NCP Opportunity: The performance of the UK automotive sector and the success of the Low Carbon Vehicles

More information

EBRD IN THE SOUTHERN & EASTERN MEDITERRANEAN REGION. Milan, 3 June 2014

EBRD IN THE SOUTHERN & EASTERN MEDITERRANEAN REGION. Milan, 3 June 2014 EBRD IN THE SOUTHERN & EASTERN MEDITERRANEAN REGION Milan, 3 June 2014 Contents EBRD: Introduction to EBRD EBRD: in the Southern and Eastern Mediterranean region (SEMED) EBRD: LEF, Local Enterprise Facility

More information

Investing in Community Development and Other Emerging Domestic Markets

Investing in Community Development and Other Emerging Domestic Markets Investing in Community Development and Other Emerging Domestic Markets Federal Reserve Bank of Boston AltruShare Securities Southern New Hampshire University May 16, 2008 Saurabh Narain snarain@ncif.org

More information

Developing by Public Private Partnership (PPP): Meeting infrastructure needs successfully.

Developing by Public Private Partnership (PPP): Meeting infrastructure needs successfully. Developing by Public Private Partnership (PPP): Meeting infrastructure needs successfully. Vicky D. Kefala Head, Investments & Development Projects Consolidated Contractors Company (CCC) MBA Finance, BA

More information

ECOFUNDING PROJECT. Polona Lah JSI EEC Portorož, 21.5.2015. Jozef Stefan Institute ENERGY EFFICIENCY CENTRE

ECOFUNDING PROJECT. Polona Lah JSI EEC Portorož, 21.5.2015. Jozef Stefan Institute ENERGY EFFICIENCY CENTRE ECOFUNDING PROJECT Polona Lah JSI EEC Portorož, 21.5.2015 The story goes Access to finance; a critical point to SMEs to maintain competitiveness 2013 SMEs Access to Finance survey Barriers and SMEs: 1.

More information

THE ITALIAN STARTUP AGENDA

THE ITALIAN STARTUP AGENDA THE ITALIAN STARTUP AGENDA POLICIES AND STRATEGIES FOR INNOVATION ITALIAN MINISTRY OF ECONOMIC DEVELOPMENT DG FOR INDUSTRIAL POLICY, COMPETITIVENESS AND SMES MINISTER S TECHNICAL SECRETARIAT 26 TH MAY

More information

EU Finance for Innovators in the Nordics. Oslo, Thursday 11 December 2014

EU Finance for Innovators in the Nordics. Oslo, Thursday 11 December 2014 EU Finance for Innovators in the Nordics Oslo, Thursday 11 December 2014 Welcome addresses Dilek Ayhan State Secretary, Norwegian Ministry of Trade, Industry and Fisheries Helen Campbell EU Ambassador

More information

New Mestre Hospital (Venice)

New Mestre Hospital (Venice) New Mestre Hospital (Venice) Ilaria Paradisi Presidency of the Council of Ministers Department for Economic Policy Coordination and Planning PPP Task Force, Italy Models and Strategies for Public-Private

More information

Bauhaus Capital Partners

Bauhaus Capital Partners Bauhaus Capital Partners Financial Advisory & Investment Banking Madrid London Bogotá Kiev São Paulo Riyadh Abuja Istanbul Moscow Singapore Hong Kong Miami Bangalore Lagos Mexico City Bauhaus Capital is

More information

Advisory Services MANUFACTURE 2015, Luxembourg

Advisory Services MANUFACTURE 2015, Luxembourg Leveraging R&D investments through smart funding approaches Innovative Financial Shiva Dustdar Instruments and Head of Innovation Finance Advisory Advisory Services MANUFACTURE 2015, Luxembourg Shiva Dustdar

More information

New Financial Instruments for Sustainable Investment

New Financial Instruments for Sustainable Investment New Financial Instruments for Sustainable Investment Gianni CARBONARO Bilateral Advisory - Decentralised Financial Instruments, Advisory Services Department European Investment Bank CELSIUS Smart Cities

More information

Financing renewable energies. The role of the banking sector

Financing renewable energies. The role of the banking sector Financing renewable energies The role of the banking sector Milan, 20 June 2014 UniCredit at a glance Key figures (March 2014) UniCredit is a leading European commercial bank with an international network,

More information

22 November 2012, Madrid

22 November 2012, Madrid 22 November 2012, Madrid 1. Introduction on EIF Introduction on EIF 2 / 21 Introduction on EIF EIF at a Glance 1. Introduction on EIF EU specialised institution for SMEs, risk financing Venture Capital

More information

Investment forum on Phase II of the LHWP. Maseru (Lesotho) 14 July 2014

Investment forum on Phase II of the LHWP. Maseru (Lesotho) 14 July 2014 Investment forum on Phase II of the LHWP Maseru (Lesotho) 14 July 2014 Private and confidential About Standard Lesotho Bank 2 3 4 Standard Bank Overview 5 Key points Full Service Corporate & Investment

More information

PPP Potential in the Czech Infrastructural Transportation Projects

PPP Potential in the Czech Infrastructural Transportation Projects PPP Potential in the Czech Infrastructural Transportation Projects Emanuel Šíp, Deputy Minister Ministry of Transport of the Czech Republic ITA-AITES WORLD TUNNEL CONGRESS 2007 May 5 10, 2007, Prague,

More information

Information Note: Armenian SME Fund. April 2016

Information Note: Armenian SME Fund. April 2016 Information Note: Armenian SME Fund April 2016 1. INTRODUCTION The EBRD is considering an investment in a private equity fund (the Fund ) to be focused on Armenia and supported by the European Union. EBRD

More information

Success factors in microfinance fund design

Success factors in microfinance fund design Success factors in microfinance fund design New York, October 2013 Monika Beck, Head of Division, Financial Sector Development Africa and Global Funds Bank aus Verantwortung Table of Contents 1 KfW Development

More information

Appendix 1: Financial Instruments Guide: Setting up and implementing Financial Instruments

Appendix 1: Financial Instruments Guide: Setting up and implementing Financial Instruments Assignment 29: Strategic UDF Investing and Project Structuring Appendix 1: Financial Instruments Guide: Setting up and implementing Financial Instruments DISCLAIMER: This document has been produced with

More information

CROATIA - TURKEY Preparation Screening Bi-lateral meetings List of questions related to key acquis requirements

CROATIA - TURKEY Preparation Screening Bi-lateral meetings List of questions related to key acquis requirements CROATIA - TURKEY Preparation Screening Bi-lateral meetings List of questions related to key acquis requirements Please describe the provisions in place, and envisaged. Please underline any problem or difficulty

More information

Financing Options for Companies at Each Stage of Growth

Financing Options for Companies at Each Stage of Growth Financing Options for Companies at Each Stage of Growth Nia Stefany Managing Partner Contents Introduction to Who We Are What is an Investment banker? Investment Bankers Value Proposition Investors Expectations

More information

Frequently asked questions

Frequently asked questions Frequently asked questions ENERGY EFFICIENCY - Project Development Assistance Call ID: H2020-EE-2014-4-PDA Topic EE 20: Project Development Assistance (PDA) for innovative bankable and aggregated sustainable

More information

InnovFin SME Guarantee & COSME Loan Guarantee. Workshop Warsaw, 6 November 2014

InnovFin SME Guarantee & COSME Loan Guarantee. Workshop Warsaw, 6 November 2014 InnovFin SME Guarantee & COSME Loan Guarantee Workshop Warsaw, 6 November 2014 EIF at a Glance EU specialised institution for SMEs risk financing Debt - Structuring and Guaranteeing portfolios of SME loans/leases

More information

EU Social Investment Financial instruments in support of social entrepreneurship and impact investment

EU Social Investment Financial instruments in support of social entrepreneurship and impact investment EU Social Investment Financial instruments in support of social entrepreneurship and impact investment Serge PATOU, Policy Officer DG ECFIN, Financing for Innovation, Competitiveness and Employment European

More information

EIB Funding for Cultural Heritage

EIB Funding for Cultural Heritage Europa Nostra EIB Institute EIB Funding for Cultural Heritage Professor Brian Field, UCL, EIBI Gerry Muscat, Head of Division, Urban and Regional Development, EIB Luxembourg, 27 November 2015 14/10/2015

More information

International Seminar on Strengthening Public Investment and Managing Fiscal Risks from Public-Private Partnerships

International Seminar on Strengthening Public Investment and Managing Fiscal Risks from Public-Private Partnerships International Seminar on Strengthening Public Investment and Managing Fiscal Risks from Public-Private Partnerships Budapest, Hungary March 7 8, 2007 The views expressed in this paper are those of the

More information

www.british-business-bank.co.uk

www.british-business-bank.co.uk What is the Northern Powerhouse Investment Fund? More than 400m of funding for SMEs in the Northern Powerhouse area Investment and lending aimed at creating sustainable economic activity through supporting

More information

WIFIA Water Infrastructure Finance and Innovation Act: An Introduction

WIFIA Water Infrastructure Finance and Innovation Act: An Introduction WIFIA Water Infrastructure Finance and Innovation Act: An Introduction February 13, 2014 Jim Ziglar, Jr. Deloitte Transactions and Business Analytics LLP jziglar@deloitte.com Infrastructure and Public-Private

More information

Full Year Results 2014

Full Year Results 2014 Full Year Results 2014 18 March 2015 Conference call on FY Results 2014 Corporate Finance & Investor Relations AGENDA FY 2014 results presentation Highlights 2014 Financials 2014 Outlook 2015 Appendix

More information