European Investment Bank

EIB financing of (regional) airport investments in the light of Global Warming

Markus Pfeffer

EIB – The European Union’s financing institution*

European Union’s long-term lending bank set up in 1958 by the Treaty of Rome

Subscribed capital EUR 164.8 bn

EIB shareholders: 27 Member States of the European Union

Lending in 2006: EUR 45.8 bn (EUR 47 bn in 2005) EUR 39.8 bn within the EU (EUR 42 bn in 2005)

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

Economic and social cohesion in an enlarged EU

Support for SMEs

Development of Trans-European and access Networks and other transport projects of common interest

Environmental protection and improvement

Support for EU development aid and cooperation policies

Promoting European Union policies

Innovation 2010 Initiative (i2i): R&D, technology networks,dissemination of innovation, education, health

EIB PROJECT ELIGIBILITY SO FAR

EIB Air Transport Policy So Far

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 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

Airport projects should...

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)

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

Recent Policy Trends

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 take- off weight in excess of 10 tonnes.

Cohesion Policy 2007-2013

Other Eligibilities

SME: possible but untested

Energy efficiency: possible, but no examples as yet

Public-Private Partnerships (PPP)

Structured Finance Facility (SFF)

Invitation to take more risk

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)

Technical assistance through various mechanisms

Incorporation of Climate Change Considerations into Funding Decisions

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