The extent to which the EIB was involved in negotiation of project documentation depended on when the Bank became actively involved with bidders. When the Bank came into the cycle late, as in the restricted procedure, it played no part in negotiations. However, where it was involved:
• The Bank was recognised as having made a positive contribution to the negotiations. Several financial sector players praised the commitment and quality of work done by Bank staff. The Bank could often be the most experienced lender at the table and experienced commercial bankers commented on the EIB's professionalism in the PPP field.
• Promoters also strongly valued EIB's contribution in new PPP markets, and the Bank helped to avoid "polarisation" between the public and private sectors. Promoters believed that the Bank would treat them fairly, while other lenders were also happy to use the Bank as an intermediary to make their views clear to the Promoter. The Bank sometimes also restrained other lenders from taking extreme positions. On the other hand, some Promoters took the view that the EIB should be treated at arm's length like the other banks.
• EIB-related difficulties were primarily due to the differing agendas of the EIB and commercial banks, in particular as to the economic viability of the project, or its linkage with other projects with which the EIB was involved. This was often seen negatively, although it could be positive for the project, e.g. the Bank's desire to develop a section of motorway because the Bank had already financed a central part of the route, which would not be viable without the connecting roads on either side.