INVITATION – Debate: “Long-Term Investments: which role for national promotional banks and the EIB?” (December 2)

We are most pleased to invite you to participate in an evening of discussion on the issue of long-term investments, the role of national promotional banks and the EIB with Mr Maarten Verwey, deputy Director General of DG ECFIN, European Commission, Mr Klaus Trömel, Head of Operations, EIB, and Mrs Odile Renaud-Basso, deputy Director General of Caisse des Dépôts et Consignations.

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The debate will be moderated by Mr Dominique de Crayencour, Secretary-General of the European Association of Long Term Investments.

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This event is kindly sponsored by

Impression

About the debate

On March 2014, the European Commission put forward a Communication on long-term financing of the European economy. The Commission Communication sets out a comprehensive framework of all needed measures to secure Europe’s position on a sustainable growth path, including by unlocking all possible means of finance of the economy. In fact, the recent economic and financial crisis has affected the ability of the EU financial sector to channel funds to the real economy, in particular to long-term investment. Long-term financing is defined in the Communication as the financing of long-term investment in a structured and engaged way. As already anticipated by the 2013 public consultation, while a well-defined and stable regulatory environment was underlined as very important, many stakeholders also called for better calibration of regulatory reform to take account of long-term financing objectives.

The Commission Communication includes two specific actions for promotional banks, to take place before the end of 2014, namely: a Communication regarding promotional banks to provide guidance on general principles, governance and transparency, supervision and regulatory aspects, and the role of national promotional banks (NPBs) in co-investing and delivering EU budget funds; an action concerning the Cooperation of NPBs with the European Investment Bank group (EIB/EIF) and possibly other multilateral development banks (MDBs) to be encouraged and monitored.

More recently, the European Parliament ECON committee suggested a pilot project in favour of the cooperation between EIB Group and National Promotional Banks and their joint support to long-term investment. Furthermore, a Presidency proposal to reinforce cooperation between EIB Group and National Promotional Banks was discussed for the same purpose during the informal  Ecofin council of September 2014 which was held in Milan.

In the meantime, various other stakeholders are also considering which could be the role of EIB/EIF, NPBs and MDBs in the reactivation of long-term investment. Various forms of interaction, with or without institutional reforms, could be thought of and structural funds could also be associated with this dynamic, with the aim of  leveraging a wider European capacity through a better cooperation model and ensuring not only that appropriate financial resources are supplied but also that demand for sound investment is supported.

The debate will be moderated by Mr Dominique de Crayencour, Secretary-General of the European Association of Long Term Investments.

Please note that the debate will be held under the Chatham House Rule. The event will commence with a welcome drink at 7h00 pm, followed by a debate at 7h30 pm. After the debate there will be an opportunity for questions and discussions.
 We look forward to seeing you at 7h00 pm on the 2nd of December at Science14 Atrium, rue de la Science 14-B, Brussels

About the Sponsor

Launched in Paris after the publication of the European Commission Green Paper on the Long-Term financing of the European Economy, in July 2013, the European Long-Term Investors Association (ELTI) gathers 23 European long-term financial institutions. With a combined balance sheet of € 2.45 trillion, ELTI’s goal is to promote long-term investment in close alignment with the objectives and initiatives developed by the European Union to foster sustainable, smart and inclusive growth and job creation.