This note draws on a recent update of the unique EPEC-ECON database on PPP projects and markets, and reports on recent developments in EU-27 and the involvement of the EIB. The recovery of the PPP market that had started in 2010 came to an abrupt halt in 2011, with both volumes and number of new deals in the first half of 2012 at their lowest level for more than a decade. The financing through public sources, has decreased from 25% in 2009 to 14% in the first half of 2012. This may be due to continuously tightening requirements of PPPs. Overall, infrastructure investment activity is declining rapidly in Europe, and its composition is changing. Alongside PPPs, corporate investment in infrastructure has been contracting while the share of government-financed infrastructure has been increasing.