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EIB Products

Scenarios of Development in the Adriatic-Balkanic Area Gorizia, 8-9 March 2010 EIB activities in Western Balkans in 2009-2010 MASSIMO CINGOLANI Deputy Head of Division – General Directorate for Lending in Europe. EIB Products. In the Western Balkans, the EIB operates primarily through:

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EIB Products

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  1. Scenarios of Development in the Adriatic-Balkanic Area Gorizia, 8-9 March 2010EIB activities in Western Balkans in 2009-2010MASSIMO CINGOLANIDeputy Head of Division – General Directorate for Lending in Europe European Investment Bank

  2. EIB Products • In the Western Balkans, the EIB operates primarily through: • Direct loans to final beneficiaries for projects with a cost above EUR 25 million • Intermediated loans channeled through intermediary banks, whereby the intermediary is obliged to transfer the financial benefits from EIB resources (lower interest rates and longer maturities) to SMEs and municipalities (projects have a cost between EUR 40.000 and EUR 25 million); intermediated loans to Mid-Caps (projects above EUR 50 million) • Framework loans to central and local public authorities for projects of up to EUR 50 million • Currently, the existing credit lines in the region amount to EUR 2 billion, out of which more than half are yet to be disbursed • In addition, in collaboration with the EU Commission, SMEs and public authorities can also benefit from a combination of EIB loans and Commission grants (SME Finance Facility, Municipal Finance Facility, Energy Efficiency Finance Facility) • The EIB contributes to the European Fund for Southeast Europe(EFSE) that provides sustainable financing to micro and small enterprises and to the South East Europe Energy Efficiency Fund(SE4F) European Investment Bank

  3. EIB Activity in Western Balkans & Croatia from 2004-2009 • EUR M European Investment Bank

  4. 2009 Activity • In 2009, contracts signed in the Western Balkans and Croatia for EUR 1.68 billion (EUR 1.26 billion in WB). Signatures in all countries of the region apart from Kosovo (under UNSCR 1244). • Strong increase in Loans to SMEs (EUR 700 million, through 14 operations) & public infrastructure. New sectors and new types of operations. • Disbursements of EUR 586 million in 2009 from EUR 529 million in 2008 (EUR 370 m and EUR 315 m without Croatia). • Launch of Western Balkans Investment Framework, and development of its activities together with EC, EBRD and CEB. • Implementation of Western Balkans Facility (EIB provided EUR 1 million), contribution to launch of EC Facilities (IPF-TA and IPF-MW). European Investment Bank

  5. RESPONSES TO THE FINANCIAL DOWNTURN 2009 • EC approved IPA Multi-Beneficiary Crisis Response Package EIB involved in: Private Sector Support Facility & Energy Efficiency Fund • EIB launch of Loan for SMEs product in the Western Balkans GLs + Loans for SMEs: 2010 EIB proposals to package financial products addressing SMEs’ access to finance and the regional dimension of SMEs’ financing European Investment Bank

  6. 2010 Outlook Consolidation of the 2009 high level of activity Focus on SMEs, large transport networks (Trans-European corridors and infrastructure) Western Balkans Investment Framework: 2010 key year • managing the volume of operations • effective coordination and pooling of financial resources • assessment of results on the ground European Investment Bank

  7. WESTERN BALKANS INVESTMENT FRAMEWORK OFFICIALLY LAUNCHED on 8-9 December 2009 KEY PLAYERS: Beneficiary countries (WB including Croatia); European Commission; Partner International Financial Institutions – IFIs (EIB, EBRD, CEB); EU Member States (including bilateral financial donors) OBJECTIVE:to pool financing resources (grants and loans) on regional priority projects COMPONENTS: A Joint Grant Facility (JGF)pooling grants from the European Commission, IFIs and bilateral donors; A Joint Lending Facility (JLF) based on loans provided by IFIs SECTORS:transport, energy, environment, social sectors, SMEs, energy efficiency INTEGRATED FINANCING PACKAGES:blending loans with grants; providing customised TC (e.g. identification, technical & management assistance, feasibility study, detailed design, assistance to tendering process, supervision of works, environmental impact assessment) INTEGRATED PROJECTS PIPELINE: Steering Committee in December '09 approved 26 projects for a total of EUR 26 million of grants and EUR 2.2 billion of loans WEBSITE: www.wbif.eu (platform)under development CONTACT: wbif@eib.org European Investment Bank

  8. WESTERN BALKANS INVESTMENT FRAMEWORK National IPA Coordinator (NIPAC) Donor Coordination Offices Beneficiary Identification of project HOW TO SUBMIT PROJECTS PROJECT FINANCIERS’ GROUPUPCOMING MEETINGS 2010II- March 24III- May 26IV - September 29 V - November 24 Screening Project Financiers’ Group Financing approval Steering Committee STEERING COMMITTEE UPCOMING MEETINGS 2010II - June 28-29 (tbc)III - Last quarter (in a beneficiary country) European Investment Bank

  9. THANK YOU Massimo CINGOLANI Deputy Head of Division Western Balkans Investment Framework E-mail: m.cingolani@eib.org Tel.: (+352) 4379 87226 Fax: (+352) 4379 67487 wbif@eib.org European Investment Bank

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