dr hakan lucius head of the infrastructure section deputy head of division for turkey ankara – 22...
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Dr Hakan Lucius
Head of the Infrastructure Section
Deputy Head of Division for Turkey
Ankara – 22 May 2008
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STRUCTURE OF THE PRESENTATION
1 - What is the European Investment Bank ?
2 - How is EIB financing extended ?
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1 - What is the European Investment Bank ?
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European Union’s Long-Term Financing Institution:
AAA rated, not-for-Profit Institution;
Set-up in 1958 by the Treaty of Rome;
Promoting European Objectives;
EIB Shareholders: Member States of the EU;
EUROPEAN INVESTMENT BANK
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THE EIB - CAPITAL (IN PERCENT)
EU‘s Financial Institution - 27 Shareholders
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Borrowings, Lending and Capital
European Union: EUR 41.0bn
Non-EU countries: EUR 6.8bn
Total lending: EUR 47.8bn
Borrowings: EUR 55 bn
Subscribed capital: EUR 164.8bn(at 01/01/2007)
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SIGNATURES IN TURKEY (EUR millions)
0
500
1000
1500
2000
2500
1998 1999 2000 2001 2002 2003 2004 2005 2006 2007
Regular Operations Earthquake Reconstruction
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2 – How is EIB financing extended?
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Private and public equally served
WHO CAN BORROW ?
Government authorities/agencies
Banks
Municipalities
Private companies
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BENEFITS OF AN EIB LOAN
Low cost of "AAA" rated funding benefit passed on to clients,
with long maturities;
in all major currencies;
for large amounts;
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Flexible Products Matching Project Requirements
- Classical fixed-rate loan
- Variable-rate loan with pre-set spread
- Index-linked loan, typically linked to inflation
- Structures: equal capital instalments, constant annuities, bullet, and customised instalments
- Pre-payment possibility
FINANCIAL PRODUCTS
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Tailor-made finance to fit project and promoter
Large-scale projects (> EUR 50 million) Direct financing
Small and medium-scale projects (< EUR 50 million)
Mid-Cap Loans and Global loans with Partner Banks
FINANCING OPTIONS
EIB PARTICIPATION IS LIMITED TO 50% OF A PROJECT’S COST
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A project assessment with many facets
Projects should:
be technically sound;
be economically and financially viable;
comply with environmental regulations;
have adequate security.
PROJECT REQUIREMENTS
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- Guarantee of International Bank or Company
- State Guarantee
- Financial Collateral (e.g. Government Bonds)
- At EIB Own Risk, i.e. without a guarantee
SECURITY REQUIREMENTS
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MUNICIPAL PROJECTS FUNDED in TURKEY(since 1995)
PROJECT AMOUNT, EUR
ANTALYA SEWERAGE 35,000,000
ASKI ANKARA SEWERAGE 45,000,000
IZMIT INDUSTRIAL WASTEWATER 50,000,000
ADANA WASTEWATER 45,000,000
DIYARBAKIR WASTEWATER 32,000,000
TARSUS WASTEWATER 38,000,000
INDUSTRIAL POLLUTION ABATEMENT 70,000,000
BURSA WASTEWATER 80,000,000
MERSIN WASTEWATER 60,000,000
ESKISEHIR URBAN DEVELOPMENT 110,000,000MUNICIPAL WATER INFRASTRUCTURE Cities of Batman, Siirt, Sivas 40,000,000
SAMSUN WASTEWATER 30,000,000
ISTANBUL URBAN TRANSPORT I (Ferryboats) 41,600,000
IZMIR COMMUTER TRAIN 130,000,000
ANTALYA LIGHT RAIL TRAIN 40,500,000
BURSA LIGHT RAIL TRAIN II 100,000,000
ISTANBUL URBAN TRANSPORT II (Metro) 700,000,000
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Supported Projects
Eskişehir Urban Development Project
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Supported Projects
Bursa Wastewater Treatment Plant West
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Supported Projects
Bosphorus Tunnel Crossing - Marmaray
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EIB Address : 100, Boulevard Konrad Adenauer,
L-2950 Luxembourgwww.eib.org