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Evaluation of Lending in New Member States prior to Accession

This evaluation concentrates on EIB lending in the twelve new member states (NMS), prior to their accession to the EU, under the various Central and Eastern-European (CEE) mandates and pre-accession facilities which were put in place by the Council and the Bank to allow for financing of projects during the pre-accession period.

http://www.eib.org/infocentre/publications/all/evaluation-of-lending-in-new-member-states-prior-to-accession.htm

en - 11/09/2009 - 21k

Evaluierung von Finanzierungen in neuen Mitgliedstaaten in der Zeit vor ihrem Beitritt

Diese Evaluierung befasst sich mit EIB-Finanzierungen in den zwölf neuen Mitgliedstaaten (NMS) in der Zeit vor ihrem EU-Beitritt, die ihnen im Rahmen der verschiedenen Mandate für die mittel- und osteuropäischen Länder (MOEL) und der Vor-Beitritts-Fazilität gewährt wurden. Diese Finanzierungsermächtigungen wurden auf Initiative des Europäischen Rates und der Bank erteilt, um die Finanzierung von Projekten in der Vor-Beitritts-Phase zu ermöglichen.

http://www.eib.org/infocentre/publications/all/evaluation-of-lending-in-new-member-states-prior-to-accession.htm

de - 11/09/2009 - 21k

eiburs_02-03022011_chiara_del_bo_en.pdf

01/02/2011 P.2 The project • 3-year international research project on public investment under budgetary constraints in the NMS. • International European research team, coordinated by: – Università... potential in the NMS; – The assessment of the sustainability of public investment in the NMS; – Project evaluation under budgetary constraints: cost-benefit rules for public and private investments in the NMS. 01/02/2011 P.3 Activities • Set up of research strategy and discussion of results: – Kick-off meeting (18th February 2008); – European Research Network Meeting (23rd May 2008); – Milan European

http://www.eib.org/attachments/general/events/eiburs_02-03022011_chiara_del_bo_en.pdf

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chiara_del_bo_milan_eiburs.pdf

The research questions 1. What is the GDP growth potential of public investment in the NMS and more specifically of different types of infrastructure, in a long- run development trajectory? 2. How can we evaluate the fiscal constraints and investment expenditure sustainability in the NMS under a comprehensive public sector accounting, which includes the dynamics of both net financial... and accounting for spatial issues in the data. •Finally, an empirical analysis on the extent of the infrastructure gap of NMS is also presented. The empirical papers have relied on a set of new national

http://www.eib.org/attachments/chiara_del_bo_milan_eiburs.pdf

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luxembourg_27102011_01_uppenberg.pdf

1980 1995 2008 1995 2008 Social services Market services Construction Utilities Manufacturing Agriculture and mining US EU-15* NMS** Source: OECD STAN Database EU-15* excl. IE, EL, LU, PT ; NMS**=PL, CZ, HU, SK, SN, EE 04/11/2011 5European Investment Bank Economic growth in the US and the EU-15 -4 -3 -2 -1 0 1 2 3 4 5 6 7... ry S lo va k ia U K N M S S lo ve n ia G re ec e P ol an d Es to n ia Ir el an d Employment Productivity Real value added Source: OECD STAN Database EU-15* excl. IE, EL, LU, PT ; NMS=PL, CZ

http://www.eib.org/attachments/general/events/luxembourg_27102011_01_uppenberg.pdf

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eiburs_02-03022011_luisa_ferreira_en.pdf

, EIBURS 2006-2009) Public Investments in NMS (Università degli Studi di Milano, EIBURS 2007-2010) E-services (Università degli Studi di Urbino “Carlo Bo”, EIBURS 2009-2012) Private Equity and Firm

http://www.eib.org/attachments/general/events/eiburs_02-03022011_luisa_ferreira_en.pdf

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diversity_2008_2009_progress_report_en.pdf

of new Member States (NMS) has increased rapidly during the past five years and since 2007 even in the highest professional function (D), where recruitment has typically been more limited. However... and cascade it down appropriately to Directorates, reflecting internal imbalances. Include the target in the Key Performance Indicators. 3. Monitor nationality (specifically NMS/OMS) balance... Union enlargement have created additional challenges for the Bank in terms of attracting and integrating staff from the “new” Member States (NMS), without forgetting that some of the “old” Member

http://www.eib.org/attachments/general/diversity_2008_2009_progress_report_en.pdf

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diversity_2009_progress_report_en.pdf

greatly. 2. The nationality results are highly encouraging: the representation of new Member States (NMS) has increased rapidly during the past five years and since 2007 even in the highest... imbalances. Include the target in the Key Performance Indicators. 3. Monitor nationality (specifically NMS/OMS) balance regularly in recruitment and career development to ensure fair competency... (NMS), 11 12 without forgetting that some of the “old” Member States are underrepresented. In accordance with the EIB’s stat utory requirements, national ity imbalances have to be addressed

http://www.eib.org/attachments/general/diversity_2009_progress_report_en.pdf

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luxembourg_27102011_04_sapir.pdf

countries » Increased competition within Europe from the NMS. square4 But they managed to avoid the necessary adjustment thanks to their adoption of the euro which permitted large net external debt positions, whereas the euro should have been an impetus for reform. square4 Now these countries have both » A competitiveness problem, mainly in my view vis-à-vis the NMS » An external debt problem

http://www.eib.org/attachments/general/events/luxembourg_27102011_04_sapir.pdf

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eibpapers_2008_v13_n01_en.pdf

circlecopyrt EIB – 07/2008 – EN QH-PA-13-001-EN-C ISSN 1830-3676 European Investment Bank • European Investment Bank • European Investment Bank • European Investment Bank • European Investment Bank EIB Papers • Volume 13 • No1 • 2008 Economic and Financial Studies 100, boulevard Konrad Aden...

http://www.eib.org/attachments/efs/eibpapers/eibpapers_2008_v13_n01_en.pdf

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eib-eusew-2010-juan-alario.pdf

preparation, such as ELENA Risk capital (subordinated debt and equity) Risk mitigation, incentives to banks to increase and leverage investments Jaspers (in NMS) and Jessica (revolving funds) can support

http://www.eib.org/attachments/general/events/eib-eusew-2010-juan-alario.pdf

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briefing2006_humancapital_en.pdf

-tech facilities. Support for NMS/Acceding/Balkans One of the EIB’s critical tasks is to help finance the process of accession to the EU. Because of subsidiarity issues, the acquis does

http://www.eib.org/attachments/general/events/briefing2006_humancapital_en.pdf

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ev_overview_report_2009_en.pdf

and Strategy Review MTR – Portfolio ?????e????o? Activities prior to accession in the 12 new Member States * NMS prior to accession Financing of water and sanitation projects outside the EU * Water... operations with own resources Facilities at its own risk. This dual pattern continued up to accession. In the 12 NMS, the Bank signed contracts amounting to around EUR 28bn between 1990 and 1996, which... ?i??i?? o?r??o?? i? ?w? ?e?er? ???e? ??? ?ior?o???e?io? The following summaries of two re- ports (NMS prior to accession; Water and Sanitation) further serve to illus- trate a number of specific EV

http://www.eib.org/attachments/ev/ev_overview_report_2009_en.pdf

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EIB Group Activity in 2005

in industry and the services sector (22%), and health and education infrastructure (9%). In the new Member States the bulk of the EIB's financing again went on transport (45% of total lending to the NMS... and capital into the region and, therefore, most effectively to the modernisation and restructuring of industry in the NMS. The cooperation with the European Commission's Regional Policy Directorate

http://www.eib.org/about/press/2006/2006-012-eib-group-activity-in-2005.htm

en - 09/02/2006 - 88k

apc2006_pr_en.pdf

% of total lending to the NMS), as this is most important for their integration into the Single Mar- ket. The EIB also continued its efforts to support foreign direct investment, as this contributes to the transfer of both know-how and capital into the region and, therefore, most effectively to the modernisation and restructuring of industry in the NMS. The cooperation with the European

http://www.eib.org/attachments/general/events/apc2006_pr_en.pdf

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eibpapers_2010_v15_n01_en.pdf

the cumulative density of the OMS sample on the vertical axis is larger than the cumulative density of the NMS sample on the horizontal axis. As a share of GDP, OMS thus tend to invest less in infrastructure than NMS. If, in contrast, OMS and NMS had identical investment shares, then the two cumulative distribution functions would be the same, and the p-p plot would coincide with the diagonal. Figure B1. Comparing total infrastructure investment as a share of GDP in old and new EU member states with the p-p plot 11 10 9 8 7 6 5 4 3 2 1 1234567 NMS OMS Hinloopen e?a?? (2008) therefore propose

http://www.eib.org/attachments/efs/eibpapers/eibpapers_2010_v15_n01_en.pdf

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ev_lending_in_new_member_states_prior_to_accession_en.pdf

for Pre-Accession) Management Committee Internal EIB committee, comprising the Bank's President and Vice-Presidents NMS New Member States (EU12) Ops-A EIB Directorate for Lending Operations – EU... EXECUTIVE SUMMARY Introduction This evaluation concentrates on EIB lending in the twelve new member states (NMS), prior to their accession to the EU... of the Operations Evaluation (EV) Strategy and the subsequent revision of the EV Programme for 2008. The evaluation concentrates on EIB lending in the twelve new member states (NMS)3 prior to their accession

http://www.eib.org/attachments/ev/ev_lending_in_new_member_states_prior_to_accession_en.pdf

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luxembourg_11072011_ferreira_en.pdf

Foscari di Venezia, EIBURS 2006-2009) Public Investments in NMS (Università degli Studi di Milano, EIBURS 2007-2010) E-services (Università degli Studi di Urbino “Carlo Bo”, EIBURS 2009-2012) Private

http://www.eib.org/attachments/general/events/luxembourg_11072011_ferreira_en.pdf

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summary_sheet_universities_en.pdf

in the water sector: potential benefits from integrat- ing the funding of fragmented operations (Università Bocconi, Milano) – Financial developments in EU new Member States (NMS) and candidates: an empirical

http://www.eib.org/attachments/general/summary_sheet_universities_en.pdf

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efr_2007_v01_en.pdf

as for EU-8 (labelled NMS in the figure). Two observations stand out from Figure 7. First, the share of infrastructure investment, including both traditional and human capital infrastructure... EU-15 Cohesion NMS Redistribution Public goods Human capital infra Trad. Infra Source: Eurostat, own classification. There are, again, big differences in the composition of public investment

http://www.eib.org/attachments/efs/efr_2007_v01_en.pdf

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diversity_strategy_en.pdf

(NMS), without forgetting that some of the “old” member states are un- derrepresented. In accordance with the EIB’s statutory re- quirements, reaching and maintaining a balanced repre- sentation... engagement of nationals of NMS and other underrepresented member states at all levels. Include people with disabilities While gender and national diversity are the key areas requiring most urgent action

http://www.eib.org/attachments/general/diversity_strategy_en.pdf

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study-on-mobile-financial-services-in-mpc-exec-summary.pdf

have better ratios in terms of deposits as a percentage of GDP than New Member States (NMS), and BRICs (Brazil, Russia, India and China) both in terms of deposits and loans as a percentage of GDP

http://www.eib.org/attachments/study-on-mobile-financial-services-in-mpc-exec-summary.pdf

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ev_overview_report_2009_de.pdf

Beitritt * NMS vor dem Beitritt Finanzierungen zugunsten von Wasser - und Abwasserprojekten außerhalb der Europäischen Union * Wasser und Abwasser ?o?? ?ige?er?? ?e?? ?i?? ? ?ge? Evaluierung der Tätigkeit im... Fazilitäten, in deren Rahmen sie Finanzierungen aus eigenen Mitteln und auf eigenes Risiko bereitstellt. Diese Zweigliederung setzte sich bis zum Beitritt fort. In den 12 NMS hat die Bank zwischen 1990... ?e???e?i?i???e? ????er?ge? ??? ??er? ?ro?e??e HZÜ -Heranführung HZÜ - Nachbarschaft HZÜ – ALA NMS vor dem Beitritt Wasser und Abwasser ??e??? 10 9 5 13 11 ? Ausgezeichnet Zufriedenstellend Teilw

http://www.eib.org/attachments/ev/ev_overview_report_2009_de.pdf

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femip_skhirat_19062005_economic_prospects_en.pdf

average of over 100 percent for the EU New Member States (NMS) and nearly 150 percent for high growth Asian economies over the same time period3. Figure 3: Trade Openness in Selected Countries, 1995

http://www.eib.org/attachments/general/events/femip_skhirat_19062005_economic_prospects_en.pdf

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ev_portfolio_review.pdf

PORTFOLIO AND STRATEGY REVIEW EIB ACTIVITIES IN “2007 PARTNER COUNTRIES” FROM 2000 TO 20081 Prepared by Operations Evaluation (EV) Alain Sève Werner Schmidt Gavin Dunnett Max Jensen Alexandre Berger July 2009 * * * NOTICE...

http://www.eib.org/attachments/ev/ev_portfolio_review.pdf

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the_knowledge_economy_in_europe.pdf

groups. An illustration of this is provided by the experience of the EU’s New Member States in Central and Eastern Europe (NMS). Over the course of the past two decades, these countries have achieved an impressive convergence in income levels towards the rest of the EU, mostly on account of a convergence in TFP levels. For inefficient economies, which is a fair characterisation of the NMS

http://www.eib.org/attachments/efs/the_knowledge_economy_in_europe.pdf

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efr_2010_v04_en.pdf

together represent about 15% of the value of PPPs in Europe (11% in Blanc-Brude et al. (2007)). The PPP market in Hungary remains the largest one among New Member States (NMS). To assess the evolution

http://www.eib.org/attachments/efs/efr_2010_v04_en.pdf

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ev_synthesis_report_i2i_en.pdf

ations Evaluation - Operations Evaluation - Operations Evaluation - Operations Evaluation - Operations Evaluation - Operations Evaluation - Operations Evaluation - Operations Evaluation - Operations Evalua Oti ...

http://www.eib.org/attachments/ev/ev_synthesis_report_i2i_en.pdf

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strategy_cg2005_en.pdf

provides in most of the NMS and Accession countries is particularly high as it is underpinned by three special Commission programmes under which EIB channels EU grants through dedicated global loans

http://www.eib.org/attachments/strategies/strategy_cg2005_en.pdf

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femip_study_mobile_financial_services_en.pdf

of access to finance that jeopardizes their economic development and equality. In macroeconomic terms MPCs have better ratios in terms of deposits as a percentage of GDP than New Member States (NMS... at a formal financial institution 2 In macroeconomic terms MPCs have better ratios in terms of deposits as a percentage of GDP than New Member States (NMS), and BRICs (Brazil, Russia, India and China... . Region/Country Deposits (%GDP) Loans (%GDP) Algeria 47 34 Egypt 74 38 Israel 107 96 Jordan 120 77 Lebanon 288 99 Morocco 81 80 Syria 55 48 Tunisia 53 68 WBG 98 38 MPC 87 63 NMS 50 69 EU 15 108 143

http://www.eib.org/attachments/country/femip_study_mobile_financial_services_en.pdf

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eibpapers_2000_v05_n01_en.pdf

Volume 5 No 1 2000 9 31 61 89 117 137 C ahiers P apers EIBBEI Regional development in Europe: An assessment of policy strategies C ahiers P apers EIB BEI Volume 5 No 1 2000 What diagnosis for Europe's ailing regions? Christopher Hurst, Jacques-François Thisse & Patrick Vanh...

http://www.eib.org/attachments/efs/eibpapers/eibpapers_2000_v05_n01_en.pdf

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20050305_nts_fr.pdf

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http://www.eib.org/attachments/pipeline/20050305_nts_fr.pdf

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