Vote on Project Bonds - Financial aid in the field of the trans-European transport and energy networks:
- extracts from the vote
Lieu: Strasbourg, France - European Parliament
End production: 05/07/2012 First transmission: 05/07/2012
An EU allocation of €230 million in guarantees to back the private issuance of "project bonds" for transport, energy and information technology infrastructure projects was approved by Parliament on Thursday. The decision allows pilot testing of this innovative plan to attract private investment in transport, energy and information technology network projects.
€200 million will be set aside to guarantee investments in transport networks, €20 million for information and communication technology (ICT) networks and €10 million for energy connections. The scheme will be managed by the European Investment Bank (EIB).
Guarantees backing project bond issuing companies should make the bonds that they issue safer and more attractive to capital market investors such as pension and investment funds.
With an expected multiplier ratio of between 15 and 20, these guarantees could mobilise up to €4.6 billion in private investment. Investment needs for transport, energy and ICT infrastructure projects in Europe are estimated at €1.5 trillion for 2010-2020.
Only the original language version is authentic and it prevails in the event of its differing from the translated versions.
||Exterior shot of the EP, Strasbourg.
||EP President Martin SCHULZ opens the vote on the report by Göran Färm (S&D, SE) on Financial aid in the field of the trans-European transport and energy networks. Vote on amendements.
||Final vote on the draft legislative proposal as amended. The resolution was adopted with 579 votes in favour, 32 against and 9 abstentions. Congratulations to the rapporteur.