How to tell the story of EFSI’s legacy
COVID-19 may have written a new chapter in the EFSI story even in the programme’s final months. But, after all, there were already plenty of ways to tell that story, such has been the scope of the enterprise.
Tell it as we have done throughout this document, in the personal stories of people across Europe who owe their jobs to projects financed with the EFSI guarantee.
Or you might describe EFSI’s legacy with a map of Europe. There are EFSI deals from Las Palmas in Spain’s Canary Islands, where the EFSI guarantee backed EIB financing for new, cleaner buses, to Estonia in the north, where EFSI guaranteed finance for Skeleton Technologies’s research into energy storage super capacitors. The map might even take you to outer space with the EFSI-backed investment in OHB, the Bremen-based company developing electric satellites.
You can tell it as the story of a human life, starting with EFSI-backed financing for Jennewein Biotechnologie’s production of baby formula with the same natural sugars as breast milk, and Science4You, which makes educational toys in Portugal. Take the tale on through school projects like our backing for a Finnish public school public-private partnership right on to the battle to stay the hand of death with an investment in a PPP to build primary healthcare centres in Ireland. Or the story of a business’s lifetime with some of the startups and young companies financed with the backing of the EFSI guarantee, like Winnow, a firm developing artificial intelligence tools to cut food waste at its research centre in Romania.
Or tell it from small to big, with a family metal-moulding firm in western Germany financed by the European Investment Fund with the EFSI guarantee, up to European Investment Bank deals with giants like Ericsson, Telefonica and Deutsche Telecom for their work on 5G infrastructure.
Then there are projects to finance electric car charging stations in Italy. Digitalising traditional businesses in Spain. Researching high-performance seeds for crops that resist pathogens in France. Constructing medical facilities in the Netherlands. All these ways to illustrate the EFSI legacy look to the future of a Europe with an innovative, sustainable economy.
These different EFSI stories are written from the same script, in which scarce public resources are used expertly to build jobs and growth for EU citizens. The legacy of EFSI will be in the livelihoods it supports—and the lessons learned by policymakers as they confront the next crisis.