On March 18, the European Commission and the European Investment Bank published a joint explanatory note on the rules applicable to EFSI operations with investment platforms and National Promotional Banks and Institutions.

The document is part of the effort undertaken by the Commission and the EIB to ensure the Juncker Plan achieves mobilizing additional € 315 billion of investment to boost growth and jobs creation in Europe. The note specifically aims at providing regions and managing authorities of ESI funds with the needed guidance to play a major role in the boost of investment in their territories with the help of EFSI.

The EFSI Regulation attributes a pivotal role to investment platforms by way of identifying them as the main tool for pooling together smaller projects based on their thematic or geographical scope, hence allowing them to benefit of EFSI support despite of their size.
The note sets out in detail what investment platforms are, differentiating their purpose between geographical (national, multi-national, regional, multi-regional) and thematic scope (mono- or multi-sector) and stating that platforms can benefit from EFSI funding both through the Infrastructure & Innovation Window as well as the SME Window (for both Windows the submission and approval process is explained).

The note also illustrates the type of EFSI financing platforms can receive (loans, equity and quasi-equity, guarantees), as well as the legal forms that the platforms can take and their governance structure. Finally, a five theoretical examples of EFSI operations with investment platforms or National Promotional Banks are described.

Rules applicable to EFSI operations with Investment Platforms and National Promotional Banks and Institutions

The Investment Plan for Europe

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