4. FINANCING6

- Out of the total of 42 transactions, which reached financial close in 2017, 13 (as compared to 17 out of 68 in 2016) involved the provision of debt by institutional investors (e.g. insurance companies, pension funds) through a variety of financing models.

- Five countries closed transactions involving institutional investor debt: France, Italy, Spain, Turkey and the UK (6 countries in 2016).

- The role of the EU, national governments and public financial institutions (domestic or supranational) remained significant in 2017, for example:

- The Campus Berresgasse (Austria), Treviso hospital (Italy) and Greek regional airports projects all benefitted from the support of the European Fund for Strategic Investments (EFSI);

- The EIB financed seven of the 42 PPP projects which reached financial close during the year, for an aggregate lending volume of EUR 1 billion;7 and

- Several international financial institutions (e.g. the European Bank for Reconstruction and Development, the International Finance Corporation) were involved in the financing of large PPPs (notably the health projects in Turkey).




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6 As the availability and quality of data on financing terms is limited in places, the information provided in this section should be treated with caution.

7 Annual updates of the list of PPPs financed by the European Investment Bank are available at:

http://www.eib.org/infocentre/publications/all/epec-ppps-financed-by-the-european-investment-bank-since-1990