The EIB Group and MALTA. 31/10/2017 European Investment Bank Group 1

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1 The EIB Group and MALTA 31/10/2017 European Investment Bank Group 1

2 The EIB Group Providing finance and expertise for sound and sustainable investment projects Leading developer of risk financing for innovative SMEs European Investment Bank Group 2

3 The EIB: the EU bank Natural financing partner for the EU institutions since 1958 Around 90% of lending is within the EU Shareholders: 28 EU Member States Investing in Europe s growth European Investment Bank Group 3

4 The EIB: capital breakdown European Investment Bank Group 4

5 The EIB at a glance Largest multilateral lender and borrower in the world We raise our funds on the international capital markets We pass on favourable borrowing conditions to clients Some 450 projects each year in over 160 countries Headquartered in Luxembourg and has 40 local offices Around staff: Not only finance professionals, but also engineers, sector economists and socio-environmental experts Almost 60 years of experience in financing projects European Investment Bank Group 5

6 The EIF at a glance Shareholders: European Investment Bank (59.9%) European Commission (28.1%) 30 public & private financial institutions (12%) Strong capital base (EUR 4.5bn) AAA-rated by the three major rating agencies Over 20 years of market experience in SME financing Over 400 staff European Investment Bank Group 6

7 EIB Group financing in 2016: EUR 83.8bn Signatures EFTA & Enlargement Countries EUR 3.35bn Eastern Neighbours EUR 1.65bn EUR European Union 75. 4bn Outside EU EUR 8.38bn Africa, Caribbean, Pacific, South Africa EUR 0.77bn Total EUR 83.8bn Southern Neighbours EUR 1.63bn Asia and Latin America EUR 0.98bn European Investment Bank Group 7

8 Our priorities Environment Infrastructure Innovation SMEs EUR EUR EUR EUR 16.9bn 19.7bn 13.5bn 33.6bn European Investment Bank Group 8

9 We deliver impact where it s needed JOBS 4.4m jobs in small businesses HEALTH 10m people with access to improved health services EDUCATION students benefiting from EIB projects WATER 25m people benefiting from safe drinking water TRANSPORT 960m additional passengers ENERGY 4m households powered by EIB projects URBAN households in social and affordable housing DIGITAL 11m people with new or upgraded connections European Investment Bank Group 9

10 EIB products We help catalyse investment LENDING BLENDING ADVISING Loans But also: Guarantees (trade financing) Equity participation Combining EIB finance with EU budget (Project Bond Initiative) Higher risk projects for innovation (InnovFin) Prepare, evaluate and support the implementation of projects (JASPERS) Support for public/private partnerships (EPEC) Attracting FUNDING for long-term growth European Investment Bank Group 10

11 Financing Facilities 2 main facilities: Direct Loans Large-scale projects (more than EUR 25m) Intermediated Loans Small and medium-scale projects (particularly to SMEs) via national and regional intermediary banks Lending decision remains with the financial intermediary European Investment Bank 11

12 Project Requirements Projects must: Meet at least one of the EIB s objectives Be technically sound Be financially viable Show an acceptable economic return Comply with environmental protection and procurement regulations European Investment Bank 12

13 European Fund for Strategic Investments (EFSI) EU Guarantee EUR 16bn EIB EUR 5bn EFSI - European Fund for Strategic Investments EUR 21bn Infrastructure and Innovation Window EUR 15.5bn Deployed by EIB SME Window EUR 5.5bn Deployed by EIF Financing: EUR 61bn Final investments: EUR 315bn European Investment Bank Group 13

14 EIB Group Projects financed in Malta Amount Operation name Project description Year Signed EURm Borrower VALETTA HARBOUR Upgrading of harbour facilities ,28 Republic of Malta SOLID WASTES RECYCLING Construction of waste facilties ,00 Republic of Malta LIDL ITALIA - MALTA III ENEMALTA POWER PLANT & DISTRIBUTION Construction of a distribution centre and discount retail outlets in Italy and Malta. Upgrading and reinforcement of the Maltese power generating capacity and supply network ,28 UniCredit S.p.A ,00 Enemalta Corporation WSC WATER SECTOR Water supply and wastewater collection and treatment investments ,00 Water Services Corporation (WSC) The implementation of a High Voltage Alternating Current MALTA-ITALY (HVAC) cable link interconnecting Malta and Sicily across the INTERCONNECTOR (TEN-E) Mediterranean Sea ,00 Enemalta Corporation VALLETTA CITY GATE PROJECT Construction in Valletta of a new city gate, a new Parliament building and a piazza and performing space at the site of the former Royal Opera House destroyed during World War II ,00 Malita Investments plc TELECOM MALTA Design, roll-out and commissioning of a country-wide fixed and mobile broadband network comprising several different network technologies in Malta (InnovFin) ,00 GO p.l.c. EC-EIB SME INITIATIVE MALTA Implementation in Malta of the SME Initiative (SMEI), a joint initiative of the EIB Group and the European Commission aiming at supporting European SMEs through risk-sharing financial instruments ,00 BoV Banif Bank MALTA EU FUNDS Co-financing of small projects under Malta's Operational Programmes for the programming period under the European Regional Development Fund, the European Social Fund and the Cohesion Fund ,00 Republic of Malta MALTA SOCIAL HOUSING Construction of social housing units to be implemented in the years as part the current programme of social housing development in Malta ,70 Malita Investments plc 31/10/2017 STM ITALY-FRANCE-MALTA RDI activities and the development of the technologies and products for the next generation of semiconductor devices in the years ,00 STMICROELECTRONICS NV Total 493,26 Europe an Investm ent

15 Main Key Results of EIBIS 2016 relevant to EIB lending to Malta - Investment intensity significantly lower than EU average - good liquidity by local banks - EIF s portfolio guarantees - Investment barriers (lack of availability of staff) Human capital financing - External Finance constraint higher than EU average - size - pan-eu products and programme loans Local aspects relevant to EIB lending to Malta - Malta is a «Moderate» Innovator according to EC EIB s R&D priority and projects - Malta is EU s worse water-stressed country EIB long-term infrastructure financing - Malta s national 2020 target for RE EIB long-term infrastructure financing - Human capital indicators show that malta lags behind EU peers EIB s human capital financing in Malta is lower than EU peers - Maltese Development Bank co-operation European Investment Bank Group 15