advisory services. With the EC’s support, the EIB has reinforced the technical and
financial advisory services available to projects through the European Investment
Advisory Hub (EIAH) and the Innovation Finance Advisory unit. As further
explained by Ms. Busato, given the unique combination of risk features, the EIB
provides advice to CE project promoters on structuring and financing to improve
the bankability of their projects.
CE projects are generally eligible for EIB financing as these are well aligned
with one or more of the bank’s central policy objectives including the support of
environmental protection and resource efficiency, research and innovation and SME
financing. In the last 5 years, the EIB lent around 2.4 billion to CE projects in
diverse sectors including typical infrastructure sectors such as water and waste
management, as well as in the agribusiness and bio-economy and industry and
services sectors.
3.2 The European Commission’s Perspective: From
Funding to Financing
The representative of the European Commission provided an overview of EU’s
general policy and available funding sources from the Horizon 2020 and LIFE
programmes as well as from the European Structural and Investment Funds (ESIF).
These programmes are designed to attract funding from other public or private
investors in key EU priority areas including CE. Non-reimbursable EU funding in
the form of grants will continue to play a role in reducing the overall cost and risk,
and help boost the credit rating of innovative projects that otherwise would not have
seen the light of day. Simultaneously, the EC is increasingly promoting the integration of available EU funds with financial instruments and products such as loans,
guarantees, equity and other risk-bearing mechanisms, as a means of enhancing the
scope and leveraging the impact of the EU budget.
In this regard the EC representative mentioned the combined efforts of the EC
and the EIB Group in setting up such financial instruments and risk-bearing
mechanisms.
3.3 Joint Initiatives of the EIB and the European
Commission in Support of CE
With the backing of EU guarantees granted to the European Fund for Strategic
Investment (EFSI) and the “EU Finance for Innovators” (InnovFin) Programme, the
EIB is being enabled to take on more risk and help more CE projects with medium
to high risk profiles get off the ground.
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429
financial advisory services available to projects through the European Investment
Advisory Hub (EIAH) and the Innovation Finance Advisory unit. As further
explained by Ms. Busato, given the unique combination of risk features, the EIB
provides advice to CE project promoters on structuring and financing to improve
the bankability of their projects.
CE projects are generally eligible for EIB financing as these are well aligned
with one or more of the bank’s central policy objectives including the support of
environmental protection and resource efficiency, research and innovation and SME
financing. In the last 5 years, the EIB lent around 2.4 billion to CE projects in
diverse sectors including typical infrastructure sectors such as water and waste
management, as well as in the agribusiness and bio-economy and industry and
services sectors.
3.2 The European Commission’s Perspective: From
Funding to Financing
The representative of the European Commission provided an overview of EU’s
general policy and available funding sources from the Horizon 2020 and LIFE
programmes as well as from the European Structural and Investment Funds (ESIF).
These programmes are designed to attract funding from other public or private
investors in key EU priority areas including CE. Non-reimbursable EU funding in
the form of grants will continue to play a role in reducing the overall cost and risk,
and help boost the credit rating of innovative projects that otherwise would not have
seen the light of day. Simultaneously, the EC is increasingly promoting the integration of available EU funds with financial instruments and products such as loans,
guarantees, equity and other risk-bearing mechanisms, as a means of enhancing the
scope and leveraging the impact of the EU budget.
In this regard the EC representative mentioned the combined efforts of the EC
and the EIB Group in setting up such financial instruments and risk-bearing
mechanisms.
3.3 Joint Initiatives of the EIB and the European
Commission in Support of CE
With the backing of EU guarantees granted to the European Fund for Strategic
Investment (EFSI) and the “EU Finance for Innovators” (InnovFin) Programme, the
EIB is being enabled to take on more risk and help more CE projects with medium
to high risk profiles get off the ground.
Financing Innovation and Circular …
429