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MFF Post 2020 What can NPBIs bring to the table for territorial investment

Social Infrastructure Event 27 Sep 2018Following the publication of the report of the high-level task force on investing in social infrastructure, European Long-Term Investors Association and Long Term Infrastructure Investors Association are delighted to announce a Social Infrastructure Workshop on Thursday 27 September 2018.

Hosted by the European Committee of the Regions in Brussels, the workshop will bring back together executives representing European governments, institutional investors, fund managers, promotion banks, advisers and industry bodies active in Europe.The discussion about experience and future developments in Social Infrastructure Investment Projects will focus on the InvestEU instrument, recently proposed by the European Commission.

Amongst our executive speakers you will find:

Edoardo Reviglio, Chief Economist, Cassa Depositi e Prestiti
Laurent Zylberberg, Chairman, ELTI
Thierry Déau, CEO, Meridiam Infrastructure and Chairman, LTIIA

Please find the updated agenda here and we ask that you RSVP to Ms. Camille Andre: This email address is being protected from spambots. You need JavaScript enabled to view it..

FinalPanel

OECD Conference Centre

Andrew Wheeler ©

OECD High-level Roundtable on Financing Investment in Sustainable Infrastructure

19 October 2017, 15-18h, OECD Conference Centre, Paris

Draft Programme

Financing Investment in Sustainable Infrastructure

The OECD Committee on Financial Markets will be holding an OECD Financial Roundtable in the afternoon of the 19th October 2017 (15:00 to 18:00) focused on the topic of “Financing Investment in Sustainable Infrastructure”. The roundtable is a biannual informal dialogue between committee officials and private financial sector representatives and stakeholders. It is taking place during “Paris Infrastructure Week”, which features week-long events that will bring a number of experts to Paris.

The discussion will address the issue of financing investment of sustainable infrastructure through:

  • Including environmental and inclusiveness aspects
  • Financing innovation
  • Data collection on the financial and non-financial characteristics of infrastructure, and the development of infrastructure as an asset class.
  • This Roundtable will take place at the OECD Headquarters in Paris (www.oecd.org/conferencecentre) and will be chaired by Grant Spencer, Deputy Governor and Head of Financial Stability, Reserve Bank of New Zealand, and Chair of the Committee on Financial Markets.

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The Workshop on Data Collection for Long-term Investment took place as part of the G20/OECD Task Force on Institutional Investors and Long-term Financing.

LTIC Steering Committee (SC) meeting at the KfW Bankgruppe headquarters in Frankfurt later followed by the D20 conference

D20 Statement (PDF)

BOOSTING INVESTMENT IN SOCIAL INFRASTRUCTURES

10 October 2017 / 11.15-13.00

Committee of the Regions - Van Maerlant Building – Room VM 1

99-101 rue Belliard – Brussels

Event agenda: (PDF) and Invitation (PDF)

The 5th annual ELTI General Assembly will take place in Warsaw,Poland, courtesy of the Bank Gospodarstwa Krajowego (BGK)

 

 

EP Long Term Investment

On 7 February, 2017, the Long-term investment and reindustrialisation Intergroup of the European Parliament together with the European Financial Services Round Table (EFR) held a dinner debate on EU prudential regulation and incentives towards green investments.

Download the Minutes of the dinner-debate: ‘EU prudential regulation: balancing growth orientation, the green investment agenda and stability

Agenda

Biographies of the Speakers

List of Participants

Speakers:

Denis Duverne, Chairman of the Board of Directors of AXA, Vice-Chairman of the European Financial Services Round Table (EFR)
Valdis Dombrovskis, Vice-President for the Euro and Social Dialogue, also in charge of Financial Stability, Financial Services and Capital Markets Union, European Commission
Sir Adrian Montague, Chairman of Aviva, Chair of the European Financial Services Round Table’s working group on Climate Change
Mikołaj Dowgielewicz, Permanent Representative of the European Investment Bank to the European Union

17th Tokyo Roundtable on Capital Market and Financial Reform in Asia to be held on 2-3 March 2017 at the Asian Development Bank Institute (ADBI) in Tokyo, Japan

 

Draft Agenda (PDF)

Information note (PDF)

 

CONTACTS

Ms. Morven Alexander, OECD This email address is being protected from spambots. You need JavaScript enabled to view it.

Ms. Miyuki Izumiyama, OECD This email address is being protected from spambots. You need JavaScript enabled to view it.

Wednesday 23. November 2016 the European Parliament Intergroup on Long-Term Investment and Reindustrialisation met in Strasbourg. Under the chair of the Member of the European Parliament (MEP) Dominique Riquet (FR) and Vice-President of the European Parliament Adina-Ioana Vălean, EFSI was discussed for 1 ½ hours. The panel was composed of:

 

 

Laurent Zylberberg, ELTI president, CDC

Christian Krämer, KfW

Riccardo Honorati Bianchi, CDP

Sibil Svilan, SID

Yves Guicquero, Agence Française de Développement AFD

Mikolaj Dowgielewicz, EIB

 

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Ca. 50 persons of which 9 were MEPs – one of them being EFSI co-rapporteur José-Manuel Fernandes, and many assistants to MEPs (including to the European Parliament’s President Martin Schultz) attended the meeting. Based on the three ELTI position papers (EFSI, Art. 38 CPR, and EIP, please see final versions of EFSI and Art. 38 CPR attached), which were distributed to the participants the main points of the discussion were:

 

EFSI:

•             NPBIs took a major role in the implementation of the EFSI notably in the SME window and the success of the Juncker-plan happened. EIB underlined the fact that EFSI was a great opportunity to strengthen the cooperation between EIB and NPBIs.

•             NPBIs and EIB continue to have different views on subordination. EIB continued to underline that the question of subordination has to be decided (by the EIB) on a case-by-case basis.

•             There are great expectations about the European Investment Advisory Hub notably by MEPs from Eastern Europe (Romania, Bulgaria, Slovenia). In order to improve geographical distribution additional focus should be given by the EIB to the smaller countries in terms of know-how, technical expertise, share of best practices etc (technical assistance 2.0).

•             The added-value of the EFSI from NPBIs- and MEPs-view is mainly the additional risk taking capacity of EFSI and in some EU Member States the availability of additional liquidity. MEPs expressed their concerns about additionality.

•             Most of the participants asked for a stronger involvement of NPBIs in the implementation of the EFSI.

 

ART. 38 CPR – EFSI&ESI Funds:

•             Investment platforms will be a key element to combine EFSI with other EU funding resources notably ESIF (-> Structural Funds).

•             NPBIs - that have a significant financial and project engineering expertise, strong financing capacity and knowledge of their respective territories - could and should in the future play a greater role in ESI Funds deployment also to enhance the synergies between EFSI and ESI Funds as well as to avoid crowding-out effect.

•             The new proposed Art. 38 CPR that foreseen direct award of implementation tasks related to Financial Instruments from Managing Authorities (MAs) to NPBIs with equivalent conditions currently granted to EIB Group and other IFIs, currently do not seem to be aligned with the definition of NPBIs used in the EFSI Regulation and consequently some NPBIs could be excluded.

•             ELTI suggested to apply the definition of NPBIs as in article 2 (3) of EFSI Regulation (EU) 2015/1017. Any amendment of art. 38 CPR should be fully consistent with EFSI Regulation in order to ensure protection of legitimate expectations and legal certainty.

•             The final objective is to have all NPBIs be able to implement Financial Instruments, combining ESIF and EFSI, avoiding any potential impediment coming from new proposed art. 38 CPR and at the same time allowing them maximum level playing field.

•             In this regard cooperation between the EIB and NPBIs in designing and providing solutions that address EU investment needs, market gaps and enhance EU competitiveness is therefore of utmost importance.

 

EIP:

•             The External Investment Plan (EIP) which might become an “EFSI for Africa” and the involvement of bilateral development banks (KfW, CDP, AFD, …) was discussed and highlighted the fact that NPBIs have strong financing capacities and expertise, even outside Europe.

It was extremely useful that we could distribute the three position papers and all important points in the documents were explained and understood by the participants. Thank you very much once more for the discussion about the documents, your points are now understood by relevant and interested MEPs.

 

 

 

It was also extremely useful that Mr. Svilan represented a small ELTI member from a smaller, Eastern European Member State. Many questions concerned problems in the smaller Member States. His participation was definitively a great success and we should present ELTI positions in the future always in a team including at least one small member representative. 

 

Contact

European Long-Term Investors a.i.s.b.l.
Rue Montoyer 51
B - 1000 Brussels
Belgium
secretariat@eltia.eu