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Limited services provision role for EIB in European Financial Stability Facility

Euro area Member States agreed on May 10 to set up a special purpose vehicle (SPV) to raise up to EUR 440 bn in support of euro zone Member States, should the need arise. At a meeting on May 17, the SPV was named the “European Financial Stability Facility (EFSF)”. The Eurogroup decided it would be set up under Luxembourg law and that the EFSF shareholders would be the 16 euro area Member States. In this framework, the EIB’s role is limited to providing technical assistance, for example on legal matters (creation of such an entity under Luxembourg law), to the Commission and euro area Member

http://www.eib.org/infocentre/press/news/all/limited-services-provision-role-for-eib-in-european-financial-stability-facility.htm

en - 21/05/2010 - 20k

Specific Purpose Companies

in all European Union Member States or Associated Countries (ie. Iceland, Liechtenstein, Norway, Switzerland, Israel, Turkey, Croatia, Serbia and Moldova). Financial profile: the SPV’s stand-alone

http://www.eib.org/products/rsff/who-can-be-financed/specific-purpose-companies.htm

en - 30/03/2013 - 23k

Ermewa Rolling Stock

will be a special purpose vehicle (SPV) as a rail and tank containers asset owning entity, wholly owned by Crédit Agricole Corporate & Investment Bank (CA-CIB) and it is not subject to EU procurement... delivery of the wagons and will upon delivery sell them to the SPV, and then lease them back. The wagons will then be leased by Ermewa to its clients, which will be industrial clients, rail freight

http://www.eib.org/projects/pipeline/2011/20110228.htm

en - 15/07/2011 - 26k

JESSICA helps revitalise Moravia-Silesia Region in the Czech Republic

of state policy aimed at funding projects improving regional technical infrastructure, and the reconstruction of panel-block apartment houses. Contera UDF MS s.r.o. is a special purpose vehicle (SPV

http://www.eib.org/about/press/2012/2012-052-jessica-helps-revitalise-moravia-silesia-region-in-the-czech-republic.htm

en - 24/04/2012 - 55k

Port of Antwerp 2nd Lock Waaslandhaven

NV Deurganckdoksluis (SPV owned by Port of Antwerp (74%) and NV Vlaamse Havens (26%) The project concerns the construction of a second and larger access lock to the Waaslandhaven, with a length of 500 m, a width of 68 m and a depth of 17.8 m, in order to provide additional capacity and to allow access of post-Panamax container ships up to 14 000 TEU and bulk carriers of 200 000 DWT. The lock will comprise a lock chamber – where the vessels are stationed to be transferred – and two rolling gates at each end, as it is generally the case for maritime locks of this size. In addition, two bascule

http://www.eib.org/projects/pipeline/2010/20100373.htm

en - 20/01/2011 - 33k

purmerend.pdf

of a business plan of a geothermal and a biomass new RE heat production facilities square4 Design and realization of the legal and financial set up for a special project vehicle (SPV) to be in charge of investment square4 Contracting of investment partners for the SPV and preparation of long term biomass supply contract Description of ELENA operation square4 Set up of a dedicated project... for the preparation of the construction of the RE plants square4 Legal, financial expertise for preparation of tender documents and for the set up of the SPV will be externalised Timeframe 2010 – 2013 Basis

http://www.eib.org/attachments/documents/purmerend.pdf

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Tranvía de Zaragoza PPP

SPV: City of Zaragoza (20%)-Private Partner (80%) The project concerns the construction and operation of a new 13 km tramway line in the city of Zaragoza, including the realisation of 25 stations and the acquisition of the rolling stock. The new infrastructure will connect Valdespartera, in the southern part of the city, to the Parque Goya in the northern part of the city. The project will contribute to regional development by improving traffic conditions and the urban environment in Zaragoza. Transport The project falls under Annex II of the EIA Directive under which the need for a full

http://www.eib.org/projects/pipeline/2007/20070123.htm

en - 26/01/2009 - 28k

Solar Thin Film Sicily

The three industrial partners of the project, Sharp corporation (Japan), ST Microelectronics (Italy/France) and Enel green power (Italy) plan to enter in to the investment via a Special Purpose Vehicle (SPV). The project concerns the establishment and ramp-up of a photovoltaic (PV) module manufacturing plant in Catania, Sicily, with annual production capacity of 480 MWp in PV modules. The project aims to contribute to the cost reduction in the solar photo-voltaic industry, to the development of renewable energies in the EU and, indirectly, to the EU’s policy objectives on climate change

http://www.eib.org/projects/pipeline/2009/20090598.htm

en - 30/10/2009 - 23k

EIB and Veneto Banca: Innovative finance for SMEs in Italy and Romania

purpose vehicle (SPV) buying from Veneto Banca a portfolio of performing mortgage loans, and issuing mortgage backed securities (EUR 300 million). The entire EUR 220 million class A1 senior (AAA-rated) securities from the SPV are purchased by the EIB. Investors purchase the other classes of securities. The proceeds are transferred to Veneto Banca as payment for the mortgage loans portfolio. Veneto

http://www.eib.org/projects/press/2006/2006-087-eib-and-veneto-banca-innovative-finance-for-smes-in-italy-and-romania.htm

en - 01/08/2006 - 30k

London Olympic Village Urban Renewal

sustainable urban development by bringing back into use brownfield sites for new social housing developments. The final beneficiaries are the ODA and Triathlon (a SPV). It is a statutory obligation for the ODA to comply with the EU public procurement directives and the UK public contracts regulations 2006. Triathlon will be required to comply with EU Procurement directives insofar as they apply to the SPV.

http://www.eib.org/projects/pipeline/2008/20080538.htm

en - 12/02/2009 - 33k

Étude El Aouj

SPV in charge of implementing first the feasibility study and possibly at a later stage, the industrial project: “El Aouj S.A.”, Mauritanian subsidiary of “Sphere Investments Limited” (Australia). Financing of a bankable feasibility study (BFS) on the exploitation of the Guelb el Aouj iron ore deposit, located 35 km from SNIM’s existing mining operations. The BFS should enable the promoter or any other investor to decide whether it is worth proceeding with the establishment of a new iron ore mine and subsequent processing infrastructure designed to produce DR (Direct Reduction) grade pellets

http://www.eib.org/projects/pipeline/2003/20030054.htm

en - 28/09/2004 - 28k

Alto Garda Power Cogeneration

Alto Ga rda Power Srl The project concerns the design, construction and operation of a new natural gas fired CCGT cogeneration plant (nominal capacity 49 MWe) to be installed adjacent to Italy's largest paper mill operated by Cartiere del Garda SpA (CdG, 80% owner of the promoter, a newly formed SPV), near the town of Riva di Garda in northern Italy. The project will help to meet growth in electricity demand in Italy. Moreover, the high efficiency of combined heat and power production (about 80%), will contribute to the EU objective of increasing energy efficiency (EE). Increased EE reduces

http://www.eib.org/projects/pipeline/2007/20070405.htm

en - 12/12/2007 - 28k

k-mgarech.pdf

End.Ext.%PIB 39,7 38,8 37,3 35,3 34,4 Formes des Concessions et avantages octroyés square6square6 barb4rightbarb4right Création de Stés de projets(SPV) Résidentes; IPP Rades, Orascom, Orange... exploitation( Crédit, Cce ext. Assistance technique…) Effets des Concessions square6square6 barb4rightbarb4right Coût +élevé de l’endettement des SPV; square6square6 barb4rightbarb4right Effets sur

http://www.eib.org/attachments/general/events/k-mgarech.pdf

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Global Tech I Offshore Windpark

by the Bank during appraisal. The project is not subject to public procurement according to the Utilities Directive 2004/17/EC, as the promoter (SPV) is neither a public undertaking in the sense of Directive

http://www.eib.org/projects/pipeline/2009/20090259.htm

en - 05/08/2009 - 31k

ppp-study-volume-1.pdf

(Poland) PPP: Public Private Partnerships PRG: Project Review Group (England) Project SPV: Project Special Purpose Vehicle PUK: Partnerships UK Regulations: The Public Contracts Regulations (SI 2006/5... as to an authority's legal power to enter into the contract; • the ability of the Project SPV to grant effective security over its assets, shares and revenue streams; • the ability of funders to step... or USD, interest rate risk can be transferred to the Project SPV which can hedge this risk in the market. Domestic inflation risk (on the domestic cost element of delivering the services during

http://www.eib.org/attachments/med/ppp-study-volume-1.pdf

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EIB loan for new hospital in Asturias, Spain

Asturias will be implemented and managed by GISPASA, a special purpose vehicle (SPV) 100% owned by the former. The project has been procured by means of an innovative use of PPP type contractual

http://www.eib.org/projects/press/2005/2005-072-spain-eib-loan-for-new-hospital-in-asturias.htm

en - 03/08/2005 - 33k

jessica_marche_report_en.pdf

and manage the urban development project, through a Special Purpose Vehicle (SPV). The UDF will operate as a capital investor of the SPV; 7. selection by the Local Authority of the Special Purpose... completion of all these procedures, the UDF will deliver to the SPV JESSICA resources (in one or more tranches), thus obtaining the final report of the same. As reported in the time schedule below... , after which the resources should be returned to CDP (in case the financing can be transformed into a five-year mortgage with CDP interest rate); square4 It can be assumed that the SPV which

http://www.eib.org/attachments/documents/jessica_marche_report_en.pdf

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ppp-study-volume-3.pdf

Partnerships PRG: Project Review Group (England) Project SPV: Project Special Purpose Vehicle PUK: Partnerships UK Regulations: The Public Contracts Regulations (SI 2006/5) and The Utilities Contracts... sponsors. With the expansion of PFI, a number of specialised infrastructure equity funds have emerged that inject funding into the Project SPV and have served to reduce the cost of equity capital... . The project company or Project Special Purpose Vehicle (Project SPV) is generally a limited liability company, incorporated for the sole purpose of delivering the project. The project agreement is the key

http://www.eib.org/attachments/med/ppp-study-volume-3.pdf

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european_technology_platforms_en.pdf

Assessment to check borrower’s creditworthiness and/or SPV’s cash-flow and asset value Corporate Finance model Project Finance model Eligibility Assessment + Project Viability + Project Cost Definition Is the project in line with EU policy objectives and EIB guidelines? NOT Eligible! Eligible Bankability Assessment Borrower’s creditworthiness (i.e. credit rating) SPV’s free cash-flow and asset... on the project itself, which is typically financially and le- gally isolated in an SPV (i.e. ring-fenced with no or limited recourse to the promoter). • Project bankability primarily depends on the ac- ceptable

http://www.eib.org/attachments/thematic/european_technology_platforms_en.pdf

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a-blows.pdf

consisted of advising on the structure of the SPV that will manage the new port and selecting the concessionaires and EPC Contractor. • NATIXIS acted as MLA for the financing of the 25-year concession

http://www.eib.org/attachments/general/events/a-blows.pdf

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m-fiorentino.pdf

ruling Counterparty Status square4 Legal and budgetary capacity of the SPV ‘s direct public counterparties square4 Budgetary protocol for payment obligations (availability, early termination, subsidy... Constitutional Authority and PA Jurisdiction to clear consistency between PPP Framework and general Law system square4 Contractual protections for SPV and the Funders within risk sharing matrix

http://www.eib.org/attachments/general/events/m-fiorentino.pdf

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jessica_marche_report_it.pdf

(la “SPV”), prevedendo ex ante la partecipazione del FSU al capitale (di rischio o di prestito) della stessa; 7. selezione, da parte dell’E.L., del Concessionario che realizzerà e gestirà l’opera di... . una volta espletate tutte queste procedure, il FSU erogherà alla SPV le Risorse JESSICA (in una o più tranches), ottenendo così la rendicontazione finale delle stesse. Come si può vedere dal... dovranno essere investite nei progetti/SPV al più tardi entro il dicembre 2015. 3.1.1 Progetto di Sviluppo Urbano, elementi progettuali minimi Per avviare una gara per la realizzazione di opere

http://www.eib.org/attachments/documents/jessica_marche_report_it.pdf

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european_technology_platforms_pl.pdf

pieniężnych i wartości aktywów SPV. Metoda finansowania przedsiębiorstw Metoda finansowania projektów Ocena kwalifikowalności + żywotność projektu + określenie kosztu projektu Czy projekt jest zgodny z... SPV (tzn. rating kredytowy) NIE akceptowalny przez banki! -> Dotacje + kapitał własny (np. fundusze kapitału ryzyka EFI) Akceptowalny przez banki Finansowanie EBI pokrywa do 50%2 kosztów... banki dotyczy samego projektu, który jest przeważnie reali- zowany przez samodzielną i niezależną – pod względem prawnym i finansowym – spółkę typu SPV (tzn. wyraźnie oddzieloną, bez regresu lub z

http://www.eib.org/attachments/thematic/european_technology_platforms_pl.pdf

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european_technology_platforms_es.pdf

- yecto se realiza y financia a través de una sociedad de proyecto bien delimitada y dotada de autono- mía jurídica y financiera, lo que se denomina un Special Purpose Vehicle (SPV)1, siendo el... prestatario y/o los flujos de tesorería y el valor de los activos del SPV. Modelo de financiación “de empresa” Modelo de financiación “de proyecto” Evaluación de la elegibilidad + Viabilidad del proyecto... Solvencia del prestatario Flujo de tesorería libre y valor (es decir, su calificación crediticio) de los activos del SPV

http://www.eib.org/attachments/thematic/european_technology_platforms_es.pdf

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p-perez-de-vega.pdf

regulations. Algeria exception (introduction in 2009 of restriction of foreign participation in an SPV to 49%). • Specific protection for companies that invest (e.g. dividend repatriation) • Availability

http://www.eib.org/attachments/general/events/p-perez-de-vega.pdf

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jeremie_leaflet_2012_en.pdf

of the Man- aging Authority, or as an independent legal entity (Special Purpose Vehicle – SPV). The choice of the legal structure depends very much on the level of sophistication of the JEREMIE Holding

http://www.eib.org/attachments/thematic/jeremie_leaflet_2012_en.pdf

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european_technology_platforms_it.pdf

dal ri schio legato al progetto. • La valutazione della bancabilità si basa sull’ana lisi del progetto, generalmente realizzato e finan ziato in una SPV (senza o con limitato ricorso sul promotore). • La bancabilità del progetto dipende essenzial mente da quattro parametri principali: • La capacità della SPV di generare flussi di cassa propri e sufficientemente stabili per ri pagare il debito, • la quota di capitale proprio della SPV, • il valore stabile degli attivi del progetto e/o del le altre garanzie, • altri rischi/elementi strutturali dell’operazione finanziaria, come la

http://www.eib.org/attachments/thematic/european_technology_platforms_it.pdf

397k

italy_tuscany_final-report_en.pdf

SINLOC Spa Sistema Iniziative Locali European Investment Bank PREPARATORY STUDY OF JESSICA IN TUSCANY EXECUTIVE SUMMARY This document has been produced with the financial assistance of the European Union. The views expressed herein can in no way be taken...

http://www.eib.org/attachments/documents/italy_tuscany_final-report_en.pdf

680k

ppp-study-volume-2.pdf

: Project Review Group (England) Project SPV: Project Special Purpose Vehicle PUK: Partnerships UK Regulations: The Public Contracts Regulations (SI 2006/5) and The Utilities Contracts Regulations (SI

http://www.eib.org/attachments/med/ppp-study-volume-2.pdf

387k

jessica_evaluation_focused_study_toscana_en.pdf

JESSICA JOINT EUROPEAN SUPPORT FOR SUSTAINABLE INVESTMENT IN CITY AREAS JESSICA EVALUATION FOCUSED STUDY REGIONE TOSCANA ENGLISH VERSION This document has been produced with the financial assistance of the Eur...

http://www.eib.org/attachments/documents/jessica_evaluation_focused_study_toscana_en.pdf

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20110107_nts_et.pdf

osakeste osas 0,002 SPV1 (0,2%), süsinikoksiidi osas 0,0001 SPV1 (0,01%), vesinikkloriidi osas 0,0005 SPV1 (0,05%), vesinikfloriidi osas 0,0003 SPV1 (0,03% ) ja elavhõbeda osas 0,001 SPV (0,1%). 14

http://www.eib.org/attachments/pipeline/20110107_nts_et.pdf

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jeremie_leaflet_2012_lv.pdf

, SPV)). Juridiskās formas izvēle lielā mērā ir atkarīga no konkrētā JEREMIE līdzdalī- bas fonda sarežģītības un no attiecīgā valsts tiesiskā regulējuma. Ar ieguldījumu padomes starpniecību vadošā ies

http://www.eib.org/attachments/thematic/jeremie_leaflet_2012_lv.pdf

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eibpapers_2010_v15_n01_en.pdf

, it makes sense to have a Special Purpose Vehicle (SPV) own and manage the infrastructure asset until the investment cost has been recouped. Another fundamental observation is that the per-dollar... the SPV has to bear exogenous risk ( e??? demand risk in a fixed-term PPP contract); and the need to give the SPV incentives to aim at life cycle cost savings such as organizational innovations... , and a few projects financed by public sources4. A typical example of the latter would be an SPV funded through a regional government. When it comes to the ultimate finance instruments, government

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

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eu_africa_infrastructure_trust_fund_annual_report_2007_en.pdf

Corporation (IFC), which will channel their investments through the West Indian Ocean Cable Company Ltd ( WIOCC), a Special Purpose Vehicle (SPV ), especially created to exist alongside the direct consortium members. The main purpose of the hybrid SPV model is to incor - porate key development policy objectives in WIOCC ’s shareholder agreement and other project documents. WIOCC is a new company... Operations 15 Annual Report 2007 funding for technical assistance under the Cotonou framework, to help pay for the legal adviser and interim management team of the SPV (these funds, however, have

http://www.eib.org/attachments/country/eu_africa_infrastructure_trust_fund_annual_report_2007_en.pdf

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jessica-evaluation-study.pdf

IDEA Consult nv Tel: (+32) 02 282 17 10 Kunstlaan 1-2, box 16 Fax: (+32) 02 282 17 15 B –1210 Brussels www.ideaconsult.be Final report 17 04 2009 On behalf of: European Investment Bank 100, Boulevard Konrad Adenauer L-2950 Luxembourg Executed by: IDEA Consul...

http://www.eib.org/attachments/documents/jessica-evaluation-study.pdf

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jessica_slovakia_en.pdf

JESSICA EVALUATION STUDY - IMPLEMENTING JESSICA INSTRUMENTS IN SLOVAKIA FINAL REPORT June 2010 This do??n?h? ?en ?odu?d ?? ?e ???? ?sis?n? o? ?e Eu?o?? Union?The ?e? e??essed he?ein ?n in no ??? ??en ?o ?e????e o?i? o?nion o??e Eu?o?? Union? 2 (105)JESSICA EVALUATION STUDY - FINAL REPORT SLOVA...

http://www.eib.org/attachments/documents/jessica_slovakia_en.pdf

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vp993_presentation_it.pdf

20/20/20) • Tecnologia e sistemi di trasmissione energetici intelligenti 4. Fondi misti • Rigenerazione urbana (area based) • Trasformazione urbana • Risparmio energetico 1010 INVESTIMENTI IN SPV • Il UDF agisce come investitore, ad esempio acquisendo azioni della SPV. • Le risorse JESSICA vengono conferite al UDF che le investe come equity ottenendo in cambio dividendi e/o capital gain. • Secondo... comuni le restituiscono, con eventuali interessi, al UDF secondo un piano di ammortamento concordato. • Non è applicabile la normativa sugli Aiuti di Stato. PRESTITI AI PRIVATI o SPV • Il UDF eroga le

http://www.eib.org/attachments/eoi/vp993_presentation_it.pdf

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kb929_questions_and_answers_en.pdf

in the event of the default of the SpV which the UDF would invest, JESSICA resources will be regarded as risk capital and/or the UDF will have to refund that money to the Holding Fund? The UDF

http://www.eib.org/attachments/eoi/kb929_questions_and_answers_en.pdf

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eib-eusew-2010-mario-aymerich.pdf

stment a cost ration k of structure w business New Finan Instrume •SPV & Le (vehicles) •Subsidies - interest -direct (EU, nation - indirect (recovery p Carbon trad •PPP (infrastructu •UDF Challenges

http://www.eib.org/attachments/general/events/eib-eusew-2010-mario-aymerich.pdf

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ev_synthesis_report_dedicated_global_loans_en.pdf

SPV and are backed by a pool of assets originated by a bank or another institution, known as the originator. Securitised assets are fully transferred to an SPV via a true sale or synthetically by means of a credit default swap (or any other form of synthetic risk transfer techniques). The SPV is bankruptcy remote from the originator itself. For payments of interest and principal, ABS notes... via a loan, the Bank subscribes a Note issued by a Special Purpose Vehicle (SPV) or by the intermediary itself, which in turn channels the funds and the financial advantage provided by the EIB

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

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eu_africa_infrastructure_trust_fund_annual_report_2008_en.pdf

EU-Africa Infrastructure Trust Fund • Annual Report 2008 circlecopyrt EIB – 05/2009 – EN QH-AM-09-001-EN-C European Investment Bank • European Investment Bank • European Investment Bank • European Investment Bank • European Investment Bank Annual Report 2008 EU-Africa Infrastructure Trust Fund ...

http://www.eib.org/attachments/country/eu_africa_infrastructure_trust_fund_annual_report_2008_en.pdf

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jessica_evaluation_focused_study_toscana_it.pdf

privati; square4 Grazie alla struttura JESSICA si rende possibile creare effetto leva a diversi livelli della struttura (sia FSU che SPV); square4 Lo schema JESSICA permette di favorire l’attrazione di... quale sono investite le risorse JESSICA, può essere una struttura tipica del partenariato pubblico privato (es. SPV) ovvero un altro soggetto (es. Comune, Società di Trasformazione Urbana, Fondo

http://www.eib.org/attachments/documents/jessica_evaluation_focused_study_toscana_it.pdf

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jessica_abruzzo_en.pdf

resources are invested. It may be a typical structure of public-private partnerships (e.g. SPV) or another entity (e.g. Municipality, Urban Transformation Company, Real Estate Fund, etc

http://www.eib.org/attachments/documents/jessica_abruzzo_en.pdf

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uk-london-study-en.pdf

Scoping the use of JESSICA in London. Final Report – September 2008 This document has been produced with the financial assistance of the European Union. The views expressed herein can in no way be taken to reflect the official opinion of the European Union Note to reader: Certain commercially...

http://www.eib.org/attachments/uk-london-study-en.pdf

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eiburs_02-03022011_wim_schoutens2_en.pdf

of underlying assets. Market Participants: - Originator - Issuer/SPV - Investors - Servicer - Trustee - Third Parties - Rating Agency Rating agency evaluates credit risk and deal structure, assesses

http://www.eib.org/attachments/general/events/eiburs_02-03022011_wim_schoutens2_en.pdf

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eiburs_02-03022011_francesca_di_girolamo_en.pdf

of underlying assets. Market Participants: - Originator - Issuer/SPV - Investors - Servicer - Trustee - Third Parties - Rating Agency Rating agency evaluates credit risk and deal structure, assesses

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

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20090468_nts1_en.pdf

in the Lincs Offshore Wind Farm to DONG Energy and Siemens Project Ventures (SPV), 25% stake per party, to form the project company Lincs Wind Farm Limited. Centrica is the lead developer for the Lincs

http://www.eib.org/attachments/pipeline/20090468_nts1_en.pdf

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jessica-instruments-for-solid-waste-management-in-greece-en.pdf

JESSICA JOINT EUROPEAN SUPPORT FOR SUSTAINABLE INVESTMENT IN CITY AREAS JESSICA Instruments for Solid Waste Management in Greece STUDY Final Report - Part 1 Analysis of Solid Waste Management in Greece March 2010 This document has been produced with the financial as...

http://www.eib.org/attachments/documents/jessica-instruments-for-solid-waste-management-in-greece-en.pdf

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jessica_puglia_3_july_it.pdf

Nazionale SLL Sistema Locale del Lavoro SPV Special Purpose Vehicle SSR Sistema Sanitario Regionale TIC Tecnologie dell’Informazione e della Comunicazione TIR Tasso Interno di Rendimento UE

http://www.eib.org/attachments/documents/jessica_puglia_3_july_it.pdf

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jessica_moravia_silesia_supplementary_study_en.pdf

JESSICA JOINT EUROPEAN SUPPORT FOR SUSTAINABLE INVESTMENT IN CITY AREAS Implementation of the JESSICA financial instrument in Moravia-Silesia SUPPLEMENTARY STUDY English version June 2010 This document has been produced with the financial ...

http://www.eib.org/attachments/documents/jessica_moravia_silesia_supplementary_study_en.pdf

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kb929_presentation_it.pdf

FSU possa svolgere attività diverse: investire o prestare risorse ai veicoli di progetto, oppure erogare prestiti ai Comuni INVESTIMENTI JESSICA NELLE SPV square4 Il FSU agisce come investitore... In Italia attività solitamente svolta da Banche o Finanziarie Regionali PRESTITI JESSICA ALLA SPV square4 Il FSU eroga le risorse JESSICA come prestiti agevolati ai Veicoli di progetto (soggetti privati) che realizzano l’opera con procedure del partenariato square4 Le risorse JESSICA prestate ai veicoli di progetto sono utilizzate nella fase di costruzione e i SPV le restituiscono (secondo un piano

http://www.eib.org/attachments/eoi/kb929_presentation_it.pdf

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jessica_abruzzo_it.pdf

risorse JESSICA, può essere una struttura tipica del partenariato pubblico privato (es. SPV) ovvero un altro soggetto (es. Comune, Società di Trasformazione Urbana, Fondo Immobiliare, ...). Sulla base... l’opera e nel quale vengono investite le risorse JESSICA, può essere una struttura tipica del partenariato pubblico privato (es. SPV) ovvero un altro soggetto (es. Comune, Società di

http://www.eib.org/attachments/documents/jessica_abruzzo_it.pdf

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vp964_presentation_it.pdf

, sviluppando così partenariati pubblico privati Grazie alla struttura JESSICA si rende possibile creare effetto leva a diversi livelli della struttura (sia FSU che SPV) 7 Tipologia di Fondi di Sviluppo... ai veicoli di progetto sono utilizzate nella fase di costruzione e i SPV le restituiscono (secondo un piano di ammortamento concordato) al FSU con gli interessi square4 In Italia questa attività è

http://www.eib.org/attachments/eoi/vp964_presentation_it.pdf

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jessica_moravia_silesia_supplementary_study_cz.pdf

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

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