More than 150 projects worth €34 billion have applied for EIB financing as a result, as part of an ever increasing contribution to an investable project pipeline
The European Investment Advisory Hub releases its 2019 annual report today, which provides an overview of the impact it has had across the EU. Launched in 2015 as a key component of the Investment plan for Europe, the Advisory Hub has received more than 2,300 requests for advisory support and technical advice. The requests come from across the EU, with the majority coming from cohesion countries, and especially Poland, Bulgaria and Romania. As a direct result of the support received from the Advisory Hub, 150 investment projects worth a total of €34 billion are now being considered for European Investment Bank financing. Around half of those are potentially eligible for backing from the European Fund for Strategic Investments. This figure is expected to increase as advisory support translates into investable projects.
European Commissioner for the Economy, Paolo Gentiloni, said: “Providing local authorities and project promoters with tailored technical assistance can help unlock the financing they need to make their projects a reality. Thanks to the European Investment Advisory Hub, up to €34 billion could flow into various projects, including those in clean energy, innovation as well as smart and social infrastructure. We will build on this positive experience in the future InvestEU Advisory Hub.”
EIB Vice-President Lilyana Pavlova said: “Development of quality, bankable projects has been a major challenge for most of the European countries for years, limiting investments, growth and development especially in cohesion countries. We can be proud of what the Advisory Hub achieved to help European public and private sector overcome this challenge and attract additional financing, thanks to the EIB signalling effect. The Hub proved to be of key support to European project promoters, helping them identify, prepare and implement investments in line with the priority objectives of the Investment Plan for Europe”.
Clean energy, safe roads, social housing and healthcare
The Advisory Hub provides tailored advisory services and technical support to an array of sectors. It receives requests from cities, regions, private promoters and small businesses. Some projects to which it has provided support include:
Integrating green urban buses in Sofia and Flanders
Developing a climate strategy in Florence
Boosting healthcare services in Romania
Improving road safety in Greece
Implementing energy-efficient street lighting in Vilnius
Providing more affordable housing in Poznań