The pilot phase of the EU Project Bond Initiative is about to come to an end. Over the last two years nine infrastructure projects have been approved for refinancing through this risk sharing facility developed by the European Commission and the European Investment Bank (EIB). And much more will follow as this financial instrument and […]Read more
Roundtable: The European project bonds – What impact for European public finance, and what vision for the future?
Where and When? Tuesday 2 December 2014, 13:00-16:00 European Parliament, Brussels, Room P1C051, What ? In 2012, the European Commission and the European Investment Bank (EIB) launched the pilot phase of the ‘Europe 2020 Project Bond Initiative’ – the so-called project bonds – in order to steer private sector investments in large infrastructure […]Read more
First EU project bonds pilot project fails Cost will fall on Spanish citizens as government goes for most expensive option EU responsibility in increasing Spanish debt is overwhelming The pilot phase of the European Project Bond Initiative was launched by the European Commission and the European Investment Bank (EIB) in 2012 as an instrument to […]Read more
As the pilot phase of the Project Bond Initiative descends into acrimony amid the closure of its flagship pilot project, the recent downgrading of the Castor bonds to junk status and the Spanish government’s announcement that it expects to compensate investors for the project, it is hard to imagine that this is what the European […]Read more
The Castor project, a gas storage platform in Spain might be on hold for ever after a scientific report proves it is responsible for hundreds of earthquakes in the region of Valencia in autumn last year. If no solution is found by the end of November 2014 the Spanish government is obliged to take over […]Read more
Alleged Mafia links and corruption lead to calls for OLAF investigation into EIB-backed Italian motorway
Brussels – Today three NGOs  filed a complaint with OLAF, calling on the EU’s anti-fraud office to open an investigation into a EUR 350 million European Investment Bank (EIB) loan for a motorway project in Italy. The project and several subcontracting companies are under investigation by the Italian authorities for alleged fiscal fraud and […]Read more