ENEOP 2 - EXPLORACAO DE PARQUES EOLICOS SA
The project concerns the construction and operation of 12 wind farms in Portugal with a total capacity of 296 MW.
The development of renewable energy sources is a priority of the EU. The EU Council adopted a binding target of 20% share of renewable energ...
ENEOP2 - Exploração de Parques Eólicos S.A.
The project concerns the construction and operation of 14 wind farms in Portugal with a total capacity of 354 MW.
The development of renewable energy resources.
Energy
The project falls under Annex II of Directive 85/337/EC, as amended by Directives 9...
Hitelgarancia Zrt.
Partial first demand counter guarantee of Hitelgarancia’s 80% guarantee of Hungarian commercial banks’ long term loans extended to Hungarian municipalities and/or associations of Hungarian municipalities.
The proposed operation intends to make access to loan facilities easier f...
J. Eberspächer GmbH & Co. KG
The project concerns the financing of RDI projects on automotive components, namely targeted at reducing vehicle emissions, carried out at the existing R&D centre of Eberspächer in Esslingen, near Stuttgart (Germany).
The project aims at improving the Promoter...
German Public Bank
The project concerns a sector dedicated i2i global loan, with a risk-sharing window under the Structured Finance Facility to support small and medium-sized RDI projects in the automotive supply industry.
With the proposed facility, the EIB would help to improve the automotive s...
ENEOP2 - Exploração de Parques Eólicos
The project concerns the construction and operation of 22 wind farms in Portugal with a total capacity of 486 MW.
The development of renewable energy resources.
Energy
The project falls under Annex II of Directive 85/337/EC, as amended by Directives 97/11/...
Caixa Geral de Depósitos
A risk-sharing loan for small and medium sized projects to be originated and administered by CGD in the SME sector in Portugal. In practice the EIB and CGD would co-finance SMEs according to pre-defined rules and procedures concerning the projects and minimum quality crit...
Caixa Geral de Depósitos
La proposition porte sur un prêt avec partage des risques aux fins du financement de sous-projets de petite et moyenne dimension identifiés et gérés par CGD dans le secteur des PME au Portugal. Dans la pratique, la BEI et CGD financeront conjointement les PME conformément...
EIB offers Short URLs for easier reference to the web site in print and online publications. The following is a comprehensive list of current Short URLs and their longer counterpart. /jobs /about/jobs/
/intermediaries /projects/topics/sme/index.htm
/universities /about/partners/universities/
/jessica /products/jessica/
/cr/gri /about/cr/gri/
/rsff /products/rsff/
/sff /products/sff/
/elena /products/elena/
/eu /projects/regions/european-union/
/acp /projects/regions/acp/
/south-africa /projects/regions/acp/
/femip /projects/regions/med/
/med /projects/regions/med
Medium-Sized Corporates The EIB has arranged specific credit lines with local partner banks targeted at medium-sized corporates with fewer than 3 000 employees, and investments with a project cost up to EUR 50 million. The Bank's "MidCap" financing can support up to 50 % of total project cost or, under certain circumstances, the 100% of the loan granted by the intermediary bank. Facilities include: EIB Medium Sized Corporate Credits
Structured Finance Facility (SFF)
Risk Sharing Finance Facility (RSFF)
Small-Scale Infrastructure The EIB supports smaller-scale infrastructure projects
Conformément à ses statuts, la BEI réunit son Conseil d’administration au minimum six fois par an. Dans le cadre de sa politique de transparence, la Banque publie ci-après les conflits d’intérêt déclarés par les participants vis-à-vis d'un projet à financer : projet "M7-M8 Portlaoise (SFF)" (Irlande): T.Stone.
projet "Metropolitana di Roma - linea C" (Italie): T. Stone.
We can give additional support for priority projects using certain instruments with a higher risk profile than we normally accept. These priority areas include trans-European transport and energy networks and other infrastructure, the knowledge economy, energy and SMEs. This support is provided by our Structured Finance Facility (SFF) using a mix of the following instruments: senior loans... experiencing high-growth or are undergoing restructuring
project-related derivatives
Such has been the success of the SFF that its scope was doubled recently to enable us to generate operations up
In accordance with its Rules of Procedure, the EIB convenes its Board of Directors at least six times a year. In line with its transparency policy, the Bank publishes below any conflicts of interest declared by the participants with respect to a project to be financed: project "Renovation of the Dutsch Ministry of Finance - PPP" (The Netherlands): J. W. Van der Kaaij.
project "Bombardier C Series Aircraft SFF (i2i)" (United Kingdom): T. Stone.
In accordance with its Rules of Procedure, the EIB convenes its Board of Directors at least six times a year. In line with its transparency policy, the Bank publishes below any conflicts of interest declared by the participants with respect to a project to be financed: project "M7-M8 Portlaoise (SFF)" (Ireland): T.Stone.
project "Metropolitana di Roma - linea C" (Italy): T. Stone.
Conformément à ses statuts, la BEI réunit son Conseil d’administration au minimum six fois par an. Dans le cadre de sa politique de transparence, la Banque publie ci-après les conflits d’intérêt déclarés par les participants vis-à-vis d'un projet à financer : projet "Renovation of the Dutsch Ministry of Finance - PPP" (Pays-Bas): J. W. Van der Kaaij.
projet "Bombardier C Series Aircraft SFF (i2i)" (Royaume-Uni): T. Stone.
In der Geschäftsordnung der EIB ist festgelegt, dass der Verwaltungsrat der Bank jährlich mindestens sechsmal zusammentritt. Im Rahmen ihrer Transparenzpolitik veröffentlicht die EIB nachstehend die von den Mitgliedern des Verwaltungsrats angemeldeten Interessenkonflikte zu den für einen Finanzierung vorgeschlagenen Projekten: projekt "Renovation of the Dutsch Ministry of Finance - PPP" (Niederlande): J. W. Van der Kaaij.
projekt "Bombardier C Series Aircraft SFF (i2i)" (Vereinigtes Königreich): T. Stone.
In der Geschäftsordnung der EIB ist festgelegt, dass der Verwaltungsrat der Bank jährlich mindestens sechsmal zusammentritt. Im Rahmen ihrer Transparenzpolitik veröffentlicht die EIB nachstehend die von den Mitgliedern des Verwaltungsrats angemeldeten Interessenkonflikte zu den für einen Finanzierung vorgeschlagenen Projekten: projekt M7-M8 Portlaoise (SFF)" (Irland): T. Stone.
projekt Metropolitana di Roma - linea C" (Italien): T. Stone.
EIB signed with Landesbank Saar (SaarLB) the first risk-sharing Facility under its Structured Finance Facility (SFF) in Germany. The facility comprises a € 100 million global loan (funding) window... -sharing product that can be applied in other technology sectors and/or geographical areas. Background : The EIB has established a Structured Finance Facility (SFF) in order to match the types... of the SFF is to furnish value added for priority projects by complementing the commercial banks and capital markets. These operations will be undertaken chiefly in the countries of the European Union
of short sea shipping. This is the first EIB loan granted under its Structured Finance Facility (SFF) in Estonia, and allows for risk-sharing as part of a syndicate of banks arranged by HSH Nordbank... Finance Facility (SFF) designed to match the types of funding to the requirements of projects with a high-risk profile and to pursue its equity financing and guarantee operations in favour of large-scale infrastructure schemes. In order to support the development of the Bank’s activities under the SFF programme, in 2006 the EIB’s Board of Governors decided to consider a gradual increase of the SFF
Investment Bank 5
SFF activities (including RSFF, LGTT and SFE)
09/06/2009 European Investment Bank 6
The Bank promoting European objectives
European Investment Bank
www.eib.org
(SFF) from the current EUR 750 m (approved in 2001) to EUR 1 250 m, to be financed from the Bank's surplus. The Board also decided on an overall ceiling for future SFF capital allocations of EUR 3 750 m. The SFF allows the Bank to finance projects with a higher degree of risk, especially in two areas: research and innovation projects, with SFF funds being allocated to the Risk Sharing Finance Facility, the joint finance instrument developed by the EIB and the Commission and funded at least 50% by the EU budget;
Trans-European Networks, with SFF funds being allocated to the Guarantee for TENs
Partial counterguarantee to cover guarantee provided by financial intermediaries to municipalities, municipal associations or multi-purpose small-area associations
Contre-garantie partielle couvrant la garantie accordée par des intermédiaires financiers à des collectivités locales, des groupements de communes ou des syndicats intercommunaux à vocation multiple
Production de tranches de silicium polycristallin destinées à être utilisées comme matière première dans des cellules et modules photovoltaïques à Freiberg, en Saxe
financing in various countries providing loans exceeding EUR 20 billion in this regard. This A4 Motorway PPP is being implemented in the framework of the EIB’s Structured Finance Facility (“SFF”). The SFF
project. The EIB is providing this loan under its Structured Finance Facility (SFF). The SFF was established in 2001 to enable the Bank to support to priority projects with a higher risk profile than
projects was 31%.
Other instruments include the Struc-
tured Finance Facility (SFF) for TENs, which
allows lending to projects of sub-invest-
ment-grade credit quality, and the Loan
Guarantee Instrument for Trans-European
Transport Network projects (LGTT), which
is designed to facilitate greater participa-
tion by the private sector in the financing
of TEN-T infrastructure (see boxes on SFF... Investment Bank • European Investment Bank • European Investment Bank • European Investment Bank • European Investment Bank
SFF
The Structured Finance Facility (SFF) was established in 2001 to gener
EOLICAS DE PORTUGAL SFF I Project (PT)
340
OUTDOOR EQUIPMENT AND TOOLING RDI RSFF Project (SE)
71
SLOVAK MOTORWAYS (PPP) D1 PHASE 1 Project (SK)
700
RBS I Loan for SMEs (UK)
316
DONG UK
Annex 3
EIB/EIF Timetable
April 2003 / June 2003: Board of Directors and Board of Governors approve launch of
Innovation 2010 Initiative
October 2003: Proposal to Board of Directors concerning new allocation for Venture Capital
operations (500 m) and for SFF Operations (250 m); subsequent proposal to Board of
Governors
October 2003: Proposal to Board of Directors concerning launch of a specific instrument for
mid-size companies’ investment projects, notably in RDI; related working guidelines to be
established with Commission
December 2003: Approval of EIB Corporate
introduced early this year, while the credit risk framework for the
SFF has been revised.
The Management Committee has further reinforced the Bank’s management control
systems by regrouping... %
to 2%. For project finance lending, the 10 bp margin threshold is eliminated, and its
application is limited to operations in excess of EUR 300 m.
2.1.4. Structured Finance Facility (SFF)
Amendments were introduced in the framework governing SFF operations. These
modifications were suggested for a number of reasons. First, to make the SFF more
responsive to the policy objectives
Financement d'investissements de petite ou moyenne dimension éligibles visant à soutenir des projets de RDI dans le secteur des équipements automobiles
Activités de recherche-développement portant sur les soins médicaux, la nutrition clinique, les traitements par perfusion et les produits biopharmaceutiques durant la période 2007-2009
Forschungs- und Entwicklungsaktivitäten in den Bereichen medizinische Versorgung, klinische Ernährung, Infusionstherapie und Biopharmaka im Zeitraum 2007?2009
which will need further development.
2.3.3. SFF - Structured Finance Facility (Senior/Subordinated/Mezzanine
Debt/Quasi-Equity)
It is recalled that, in line with previous decisions following... provided by EIB. It was
foreseen that SFF products could be applied both to i2i and TENs operations. It
is thus a very relevant framework for the perspectives discussed in this note.
In the context of TENs, the demand for SFF is potentially significant in
private sector/PPP financings. From a policy point of view, SFF is particularly
valuable as it has a high value added, is generally used
), SFF-type risk sharing operations to support small audio-visual and multi-media productions in France (Coficiné and Cofiloisir operations), or a dedicated global loan (line of credit) for the content
Fund.” The Enercap Power Fund is expected to reach a total size of EUR 100 million-150 million. This operation is being implemented in the framework of the EIB’s Structured Finance Facility (SFF
the scope of the
Bank’s Structured Finance Facility (SFF) to
include urban investments.
66
PROJECT APPRAISAL
The EIB’s « three pillars »
Eligibility =
consistency with
EU priorities
Technical
%.
Wśródpozostałychinstrumentówznajduje
się Instrument Finansowania Struktural-
nego (SFF) dla sieci TEN, który umożliwia
przyznawanie kredytównaprojektyojako-
ści kredytowejponiżej jakości inwestycyjnej...
ramki dotyczące SFF i LGTT).
Komisja Europejska i Parlament Europej-
ski podkreśliły konieczność utrzymania
odpowiedniego poziomu inwestycji w
infrastrukturę transportową. Kluczową
rolę w realizacji... Finansowanie sieci transeuropejskich przez EBI
Europejski Bank Inwestycyjny • Europejski Bank Inwestycyjny • Europejski Bank Inwestycyjny • Europejski Bank Inwestycyjny
SFF
Instrument Finansowania
region for 2000 – 2008 ...................................................................... 59
Annex 5 - Structured Finance Facility (SFF) and Special FEMIP Envelope (SFE)................. 60
Annex 6... funds) the necessary provisioning (from the Structured
Finance Facility: SFF or SFE: Special FEMIP Envelope). The use of SFF has been
significant during the last 2 years (2007-08): it represents 12% of the total signed
operations. Given the scarcity of the resources available under SFF, amounts are limited
and the report shows that the level achieved recently is probably not sustainable under
RTE-T.
Otros instrumentos utilizados son la Facili-
dad de Financiación Estructurada para las
RTE (SFF) y la Facilidad de Garantía de Prés-
tamos para Proyectos de RTE de Transporte
(LGTT). La... de este
tipo de infraestructuras (ver recuadros rela-
tivos a la SFF y a la LGTT).
La Comisión Europea y el Parlamento han
encarecido la necesidad de mantener a un
nivel adecuado la inversión en... Europeo de Inversiones
SFF
La Facilidad de Financiación Estructurada (SFF, por sus siglas en inglés) se
instituyó en 2001 con el propósito de aportar valor añadido facilitando un
apoyo suplementario
by
extending its Structured Finance Facility (SFF). Created in 2001, the SFF is used to support priority projects
and promoters that are below investment grade, through provisioning of the associated higher credit risks by
setting aside part of the Bank’s surplus. The present SFF envelope of EUR 500 million (of which EUR 100
million for investment in the Mediterranean region under FEMIP
financial boundaries. For example, approvals for sub-investment grade loans financed under the Structured Finance Facility (“SFF”) amounted to EUR 6.4 bn over the past nine months – almost as much
Structured Finance Facility (SFF) was established in 2001 to enable the Bank to widen the scope for product innovation and development, and to extend its activities into higher risk and more complex
120 million. The operation is being implemented in the framework of the EIB’s Structured Finance Facility (SFF), an innovative financing solution that enables the Bank to support such priority
to long-term financing. It is being implemented in the framework of the EIB’s effort to accept higher lending risks for financing priority projects by drawing on its Structured Finance Facility (SFF
introduced, in 2000, a Structured Finance Facility (SFF) endowed with a
reserve of EUR 750 million in all for the following three years and designed to generate a volume
of operations of between EUR
unwilling to
take. The Bank has now begun to take further steps to allow for a more systematic use of
specific higher risk facilities such as the Structured Finance Facility (SFF), and also to
increase... to accept lower
rated counterparts.
• SFF operations were given additional room by lowering the capital allocation and the
finer classification of the relevant grading category.
• Additional Risk... the SFF: It is recalled that the SFF was established in 2001 to enable the Bank
to provide additional support to priority projects through the assumption of risks it was
previously unable to take
both through its financing for PPP
Infrastructure projects (over 10 billion EUR in recent years) as well as through its
development of guarantee mechanisms and its Structured Finance Facility (SFF... reserves, e.g. for
reinforcing the capacity to undertake more higher risk operations within the Structured
Finance Facility (SFF), or for reinforcing mandates given to the EIF. The alternative...
worthiness principles, operations under SFF are linked to the constitution of dedicated
reserves through annual allocations of the Bank's surplus, and for a given reserve, the
volume of possible operations
is subject to a maximum ceiling of €200 million per project pursuant to the EIB
Structured Finance Facility rules (“SFF”). The SFF is the EIB’s main facility for increased risk taking,
established
. With this facility, the
EIB can reach projects with a credit quality that previously might not have qualified for EIB financing. In
2008, the Bank lent EUR 1.6bn for transport projects under SFF, compared with EUR 474m in 2007, and a
total of EUR 2.75bn since SFF became operational in 2001.
PPPs play an important role in investment in transport TENs. In 2008, PPP projects accounted for 30% of
EIB... with the south, as
well for regional and local traffic.
The IP 4 Amarante – Villa Real PPP Project (Portugal)
In Portugal the Bank used the Structured Finance Facility (SFF) for a Public
:
• The Structured Finance Facility (SFF) for TENs allowing the Bank to finance TENs projects with
greater risk.
9 February 2006 page 1 / 2
European Investment Bank Annual Press Conference 2006
• A proposed EU
provided by the Structured Finance Facility (SFF)
in terms of mezzanine finance and high-yield bond issues for research/innovation projects) and risk
sharing products aimed at SMEs.
5. The EIB’s
, the
Board of Directors proposes that an overall ceiling for SFF capital allocations be established at
EUR 3,750m. This ceiling is being proposed having regard to maintaining the Bank’s self-
sufficiency for future capital increases, as duly documented in the “2006 Capital Review”
paper. Future allocations to the SFF fund will require specific approvals by the Bank’s
governing bodies, subject
in der
Stadt Dąbrowa Górnicza
61
Projekt EÓLICAS DE PORTUGAL SFF II (PT)
Errichtung und Betrieb von 14 Windparks in Portugal mit einer
Gesamtleistung von 354 MW
260
Projekt BUCHAREST SECTOR 6
and
culture in the City of Dabrowa Górnicza
61
EÓLICAS DE PORTUGAL SFF II Project (PT)
Construction and operation of 14 wind farms in Portugal with a total
capacity of 354 MW
260
BUCHAREST
SFF – Darlehen für KMU (PT)
Fazilität für Finanzierungen auf Risikoteilungsbasis für ein KMU-Portfolio in
Portugal
50
Projekt EDP REPOWERING II (PT)
Kapazitätserweiterung der
facility at Trieste
20
CGD RISK-SHARING SFF Loan for SMEs (PT)
Risk-Sharing Facility on a portfolio of SMEs in Portugal
50
EDP REPOWERING II Project (PT)
Repowering of Alqueva and Venda Nova
Amount
EUR million
RZB GROUP RISK SHARING FACILITY - SFF (AT/HU/RO)
An innovative Mid-Cap Loan, with a Risk-Sharing Guarantee attached
100
BULGARIA EU FUNDS COFINANCING 2007-2013
Global Loan (DE)
for financing small-scale public and private-sector investments in
human capital and regional development in Brandenburg, an EU
convergence region
250
− SOLARWAFER SACHSEN II (SFF
headroom could then be allocated to
the Growth Initiative.
Moreover, concerning specific support via SFF or venture capital, it is
estimated that one billion could be allocated to such purpose
in the market.
The volume of SFF signatures tripled, with the aggregate of SFF/RSFF/LGTT2 standing at EUR 1 737
m or 116% of the COP target and growing by almost four times compared to last year. New...
efforts made over the past years to expand SFF and more recently RSFF activities have started to
bear fruits. The Audit Committee understands that the Bank achievements in these areas have been
enhanced... aims to meet all the Bank’s Directorates at least once a year.
2 SFF stands for Structured Finance Facility; RSFF for Risk Sharing Finance Facility and LGTT for Loan
Guarantee Instrument for TENs
; an acknowledgement and clipping of any
article published would be appreciated.
Increase of the SFF
Innovation, quality and increased value added were the focus of the new
strategic orientations endorsed by the Board of Governors in 2005. In line
with this strategy, there has since been a strong emphasis on financing
projects under the Structured Finance Facility (SFF), which allows the Bank
to finance projects with a higher degree of risk. To keep the momentum go-
ing, the Governors decided to make additional SFF resources available.
The SFF was originally established in 2001
1 - 2001 • N° 107 ISSN 0250-3891
-EIB
EIBInformation
Contents
EIB in 2000 1
Philippe Maystadt:
EIB puts emphasis
on efficiency and
flexibility 7
EIB at the plenary
session of the
European Parliament 10
EIB targets Climate
Change 11
TENs: Focus to shift
from north-south
to east-west 14...
be responsible for
higher risk-taking through the use of the
Bank’s Structured Finance Facility (SFF).
AGI will have overall responsibility for all
SFF activity relating to transport and en-
ergy... Finance Facility/SFF
The Structured Finance Facility (SFF) was es-
tablished in 2001 to enable the EIB to pro-
vide additional support to priority projects
through the assumption of risks... appropri-
ate. Under the SFF, the Bank can provide
financial products such as senior loans,
mezzanine and subordinated debt, as well
as financing investment funds with equity-
type instruments
Facility (SFF). Loans under the SFF will be made available more widely for higher-than-usual risk operations in the field of R&D and innovation. The EIB has also taken the initiative to make better
its capacity to grant loans that entail a higher lending risk by increasing the provisioning reserve for its Structured Finance Facility (SFF). Loans under the SFF are made available for higher-than
Finance
Facility (SFF). Loans
under the SFF will
be made available
more widely for higher-than-usual risk operations in the
fi eld of R&D and innovation.
The EIB has also taken the initiative
the provisioning reserve for its Structured Fi-
nance Facility (SFF). Loans under the SFF are made available for
higher-than-usual risk operations. The EIB has also taken the
initiative to make better
the Structured Finance Facility (SFF). The SFF can be applied to
help finance renewable energies or other types of priority energy projects,
such as trans-European energy networks (TENs). Another
:
In der Europäischen Union
Betrag
höchstens Mio EUR
- Projekt BULGARIA TELECOM DEVELOPMENT SFF (BG)
Finanzierung verschiedener Telekommunikations-Infrastrukturvorhaben
in Bulgarien
100
- Projekt
Änderung von Darlehensbedingungen
HUNGARY - MUNICIPAL COUNTERGUARANTEE SFF (HU)
Verlängerung der maximalen Laufzeit der Rückgarantie der EIB auf 25 Jahre
Projekt SOUTH WEST WATER AND WASTEWATER II