ICO promotes the financing of the Juncker Plan among Spain's regions
The Institute, together with the European Commission and the EIB, is publicising the work of the European Investment Advisory Hub
ICO, in partnership with the European Commission and the European Investment Bank (EIB), today organised a seminar to publicise the work of the European Investment Advisory Hub (EIAH)
among Spain's regions as part of the Investment Plan for Europe (Juncker Plan).
The event is primarily aimed at the finance ministries of Spain's regional governments. In addition to raising awareness about the role of the EIAH, this event is intended to discuss the development of projects with public and private participation at a regional level, especially in the water treatment and sewerage sector. One of the main issues under discussion will be the problems faced by Spain's regions in the process of structuring and tendering a project.
The EIAH, created under the Juncker Plan, is a joint initiative between the European Commission, the European Investment Bank and national promotional banks such as ICO. It offers a single point of access for advice and technical assistance in all project execution and investment phases.
The Hub offers comprehensive advice to both public and private beneficiaries in developing their projects, such as feasibility studies, market and sector studies, tendering procedures, cost-benefit analysis, access to financing or regarding the correct use of European funds, etc.
The initial goal of the Juncker Plan was to unlock €315 billion in investments in European countries over a three-year period (2015-2018) through the European Fund for Strategic Investments (EFSI). In September, the European Commission chose to enlarge the Plan to €500 billion and extend the period to 2020. The objective is to compensate for the decline in investment during the crisis and underpin the economic recovery.
In February 2015, through ICO, Spain agreed to contribute €1.5 billion to co-finance projects of the EFSI, the financial pillar of the Juncker Plan. In addition to contributing financial resources, ICO is taking a very active role in supporting initiatives carried out under the Juncker Plan which provide new resources to projects of Spanish interest and which have an impact on the competitiveness of our companies and create employment.