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Summaries of EU Legislation

National promotional banks and the investment plan for Europe

Date of last review:
10/11/2015
Initial creation date:
10/11/2015
Summarised document(s):
Author:
Publications Office of the European Union
Responsible entity(ies):
Publications Office of the European Union

National promotional banks and the investment plan for Europe

SUMMARY OF:

Commission Communication COM(2015) 361 final — The role of national promotional banks in the investment plan for Europe

WHAT DOES THIS COMMUNICATION DO?

It explains the role of the national promotional banks (NPBs) and investment platforms in supporting the EU’s investment plan for Europe (IPE). The IPE aims to kick-start growth in the European economy.

KEY POINTS

The IPE is a package of measures to unlock public and private investment in the EU economy. The key funding instrument for this investment is the new European Fund for Strategic Investment (EFSI), which is made up of contributions from public and private sectors. Contributions to the EFSI from EU countries are mainly through the NPBs.

NPBs are defined as legal bodies carrying out financial activities which are given a mandate by an EU country to undertake development or promotional activities. NPBs can take different forms and individual EU countries can decide on whether an NPB should be established, as well as on its shape and form.

The communication does the following.

  • It provides clarity and guiding principles on how to set up a new NPB, such as key elements to include in an NPB’s statutes.
  • It gives guidance on compatibility with EU state aid rules. Since NPBs are mainly financed by the state, they should focus primarily on remedying market failures to avoid having a competitive advantage over private market participants.
  • It sets out how NPBs from different EU countries can join forces and work with the European Investment Bank (EIB) to set up investment platforms. These platforms pool funds and facilitate co-investment, particularly by private investors, in specific regions or sectors (e.g. infrastructure or energy efficiency).
  • It explains how NPB funding could synergise with EIB and other EU funds, for example by expanding the role of NPBs in the implementation of centrally managed EU programmes and of EFSI.

BACKGROUND

ACT

Communication from the Commission to the European Parliament and the Council — Working together for jobs and growth: the role of national promotional banks (NPBs) in supporting the investment plan for Europe (COM(2015) 361 final, )

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