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Project Selection

Project Selection. Max Jensen, Head of Division, Public Transport. Presentation Outline. 3 Pillar Assessment (Value Added ) Project Cycle – Project Directorate Project Examples. What is the 3 Pillar Assessment Methodology ?.

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Project Selection

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  1. Project Selection Max Jensen, Head of Division, Public Transport

  2. PresentationOutline 3 PillarAssessment (Value Added) Project Cycle – Project Directorate Project Examples EIB – ASEAN 25 February 2014

  3. What is the 3 Pillar Assessment Methodology ? EIB – ASEAN 25 February 2014

  4. Three Pillar Methodology outside the EUREM – REsults Measurement Framework Assessment of an operation’s consistency with EIB mandate objectives as well as its contribution to EU priorities and country development objectives. Soundness of the operation, and the ability of the operation and of its sponsors to achieve the expected results. It comprises a series of standard indicators to capture economic, social, environmental and governance outcomes of the operation as well as sector-specific indicators. Assessment of EIB additionality over and above market alternatives in terms of (i) financial instrument, (ii) technical, structuring and sector contribution, and (iii) standards and assurance EIB – ASEAN 25 February 2014 4

  5. Promoter’s request Newly Identified Projects Commission’s Opinion & Member State’s Opinion EIB Eligibility External web Project Information Note - PIN Staff teams Economic Financial Technical Environmental Social Management Committee (Appraisal Fact Sheet) Monitoring Banking criteria Project Borrower Guarantor Lawyers Contract Negotiation Contract Signature Board of Directors Loan Approval (Board Report) EIB – ASEAN 25 February 2014

  6. Operational Context for Projects Directorate • Upstream work – identifying & nurturing projects for funding • Technical, environmental, social and economic due diligence • Monitoring project implementation and reporting on outcomes • Support project preparation and implementation with technical assistance • Policy dialogue with key stakeholders (EU Commission, Civil Society, Member states) • Setting policies and standard methodologies for key aspects of our work EIB – ASEAN 25 February 2014

  7. EIB has access to financial facilities for technical assistance e.g. • Workwith EU Commission; ELENA, Romania, Bulgaria • JASPERS (Joint Assistance to Support Projects in European Regions) • FEMIP - Facility for Euro-Mediterranean Investment and Partnership • WBIF - Western Balkans Investment Framework • EPTATF - Eastern Partnership Technical Assistance Trust Fund • AsiaInvestment Facility • Etc. Technical Assistance (Blending) EIB – ASEAN 25 February 2014

  8. Joint initiative: Commission, EIB, EBRD, KfW • 17 beneficiaries: Member States which joined EU in 2004 and Candidate Countries • Focus on preparation of major projects to facilitate timely approval of high quality projects • Extensive project experience over 17 countries(750 completed/91 billions, 294 major approved/€53 billions) • Internalisationof expertise, in-house technical capacity • Based in EIB but separate from EIB lending operations • Focus on improvingthe quality, accelerating approval, building capacity JASPERS EIB – ASEAN 25 February 2014

  9. Project Example – Antwerp Port • Construction of a second and larger access lock to allow access of post-Panamax container ships; EUR 395m, start operation 2016, Concession O&M 20 years • The Promoter is a Special Purpose Vehicle (SPV), 74% owned by the Antwerp Port Authority and 26% owned by the Flemish Region • The dredging works for the access to the new lock and the construction of the primary road and railway infrastructure will be implemented by the Flemish Ministry of Mobility and Public Works • Port of Antwerp, classified as a category A seaport in the TEN-T network, is the second largest port in Europe for international shipping freight and the tenth largest in the world. The project will improve maritime links of the EU and promote sea transport in intermodal transport chains.

  10. Project Example – Tours Bordeaux TGV • Construction of a high speed passenger rail line between Tours and Bordeaux, 300km • Cost of the investment: EUR 7,200 million (EUR 24m / km) • Procured as a traffic risk PPP with public sector support: • 50% of cost paid by government (National & Regional) • French State guarantee for 80% of senior debt • Remaining 20% of commercial debt exposed to project risk • Loan guarantee for TEN-T Transport (LGTT) provided a buffer of 2.5% of project cost against traffic shortfalls • Private sector responsible for design, construction, operation and maintenance for 50 years • Demandrisk but «proven» demand EIB – ASEAN 25 February 2014

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