The European Investment Bank in Greece 25092020 1
The European Investment Bank in Greece 25/09/2020 1
EIB Signatures in Greece 3, 500 3, 000 476 EUR m 2, 500 2, 000 1, 500 279 2, 625 1, 000 13 1, 149 525 357 500 560 0 2011 1, 256 344 1, 335 665 358 260 2012 Signatures in Private Sector 2013 2014 2015 2016 Signatures in Public Sector 25/09/2020 2
EIB’s exposure in Greece (as of 30. 09. 2017) Type of counterpart Signed (EUR m) Disbursed (EUR m) Banks 2, 640 1, 434 Corporates 4, 500 3, 755 Public 2, 904 2, 734 Sovereign 8, 243 7, 206 Total 18, 286 15, 129 14% Banks Corporates 45% 25% Public Sovereign • Total EIB exposure amounts to 10% of the Greek GDP. • Signatures in 2016 alone represent 1% of the Greek GDP. 16% 25/09/2020 3
European Fund for Strategic Investments (EFSI) in Greece (EIB only) Approved operations 9 EFSI financing approved EUR 1. 3 bn Supporting total investment of EUR 2. 9 bn 25/09/2020 4
EFSI: EIB’s signed operations in Greece Contract name Sector Exposure signed (EUR m) NBG Loan for SMEs and Mid. Caps Alpha Bank ABS Loan for SMEs and Mid. Caps Piraeus Covered Bond Loan SMEs and Mid. Caps Telecom Greece Upstream (EGFF) Agro Food Industry RDI (MGF) Greek Regional Airports PPP Viotia Wind Parks Diorama Hellenic Growth Fund Smaller companies Mobile Broadband Network Smaller companies - RDI Agrofood Industry - RDI Transport Energy Digital, Environment and resource efficiency, Smaller companies Total 215 250 350 150 25 15 280 24 20 1, 329 25/09/2020 5
EFSI in Greece highlights EUR 215 m investment in a securitisation backed by a portfolio of loan receivables originated by National Bank of Greece (NBG). The transaction allowed NBG to raise EUR 300 m of medium-term funding. EUR 250 m investment in a securitisation backed by a portfolio of loan receivables originated by Alpha Bank. The transaction allowed Alpha Bank to raise EUR 320 m of medium-term funding. EUR 350 m investment in a covered bond series of EUR 500 m issued by Piraeus Bank. 25/09/2020 6
EFSI in Greece highlights EUR 150 m to finance COSMOTE’s mobile broadband network’s expansion and technological upgrade. EUR 25 m to finance Upstream’s growth program over the period 2016 -2018. Upstream is a fast growing and innovative technology Mid. Cap company offering mobile commerce services. EUR 15 m to finance Creta Farm’s expansion through the development of new product lines in the premium, branded meat snack and dairy segments. 25/09/2020 7
EFSI in Greece highlights EUR 24 m loan for the construction and operation of 3 wind parks in Viotia with combined installed capacity of 48. 6 MW. EUR 280 m for the expansion or refurbishment of 14 Greek regional airports recently privatized by the Greek Government. Equity participation of EUR 20 m in a closed-end private equity fund investing in private sector companies in Greece. 25/09/2020 8
What kind of private sector projects does EIB finance directly in Greece? Operations must: ‣ Meet EIB’s lending criteria (financially sound, economically and technically viable) ‣ Be mature enough for immediate finance ‣ Involve asset creation ‣ Be bankable - with pricing commensurate with the risk taken EIB can finance up to 50% of total project cost, subject to standard best banking practices criteria relating, inter alia, to counterparty’s own funds. Minimum EIB investment is EUR 7. 5 m (i. e. EUR 15 m “asset creation”). 25/09/2020 9
Thank you! More information at: www. eib. org info@eib. org 25/09/2020 10
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