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EIB financing of (regional) airport investments
in the light of Global Warming
Markus Pfeffer
European Investment Bank
EIB – The European Union’s financing institution*
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European Union’s long-term lending bank set up in
1958 by the Treaty of Rome
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Subscribed capital EUR 164.8 bn
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EIB shareholders: 27 Member States of the European
Union
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Lending in 2006: EUR 45.8 bn (EUR 47 bn in 2005)
EUR 39.8 bn within the EU (EUR 42 bn in 2005)
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Borrowing in 2006: EUR 48 bn through bond issues in
more than 10 currencies (EUR 50 bn in 2005)
*Figures subject to change
Growth in Subscribed Capital and Lending Portfolio
EIB PROJECT ELIGIBILITY SO FAR
Economic and social cohesion in an enlarged EU
Development of Trans-European and access Networks
and other transport projects of common interest
Support for SMEs
Innovation 2010 Initiative (i2i): R&D, technology networks,
dissemination of innovation, education, health
Environmental protection and improvement
Support for EU development aid and
cooperation policies
Promoting European Union policies
EIB Air Transport Policy So Far
Airport projects should...
 be part of a national/regional strategy (e.g. TEN)
 be based on a detailed master plan incl. EIA
 consider a phased development to avoid over-investment
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serve all stakeholders (passengers, airlines, GA)
take into account environmental and social aspects
be economically viable
respect state aid and competition rules
have a transparent and fair charging policy
have a competent operator (Technical Assistance)
guarantee continued maintenance
consider tailored operating and security procedures
Examples of Regional Airports (to be) Funded by EIB
 Robin Hood Airport, Doncaster-Sheffield, UK (2003)
 Tivat Airport, Montenegro (2003)
 Edinburgh / Aberdeen, UK (2004)
 Alicante, Spain (2005)
 Sibiu Airport, Romania (2006)
Recent Policy Trends
 Focus on revised COP Priority Objectives (i.e.
cohesion and convergence; SMEs; environmental
sustainability; Innovation 2010 Initiative (i2i); TENs;
Sustainable, competitive and secure energy)
 Invitation to take more risk
 Technical assistance through various mechanisms
 Incorporation of climate change considerations into
funding decisions
Trans-european Transport Network - Airports
Map
Criteria
•International connecting points:
Airports with traffic >= 5 mpax, or…
•Community connecting points: Airports
with 1 to 5 mpax, or…
•Regional connecting and accessibility
points include all airports :
- with an annual traffic of 500 000 to
899 999 passenger movements, of which
less than 30 % are non-national, or
- with an annual traffic between 250 000
and 499 999 passenger movements, or
- with an annual traffic volume of between
10 000 and 49 999 tonnes freight, or
- located on an island of a Member State, or
- located in a landlocked area of the
Community with commercial services
operated by aircraft with a maximum takeoff weight in excess of 10 tonnes.
Cohesion Policy 2007-2013
Other Eligibilities
 SME: possible but
untested
 Energy efficiency:
possible, but no
examples as yet
Invitation to take more risk
 Public-Private Partnerships (PPP)
 Structured Finance Facility (SFF)
Technical assistance through various mechanisms
 Within EU: JASPERS (Joint Assistance to Support
Projects in European Regions) for EU assisted areas
 Outside EU: FEMIP (Facility for Euro-Mediterranean
Investment and Partnership) Support and Trust Fund,
some technical assistance for the Investment Facility
(ACP), Climate Change Technical Assistance Facility
(CCTAF)
 Project Acceleration Facility (PAF)
Incorporation of Climate Change Considerations
into Funding Decisions
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