INT/ EUROPEAN PROJECT BOND PILOT PHASE TO GO AHEAD

   www.wbc-inco.com- Recently the Council of the European Union, together with the European Parliament,
   agreed to a European Commission proposal to launch a pilot phase for the Project Bonds Initiative in
   2012-2013. This follows the EC’s proposal which was published last November and set out the aims of
   the pilot phase. If the pilot phase is successful, project bonds may be included as a financial instrument in
   the EU’s multiannual financial framework 2014-2020. €230 million has been set aside for the pilot phase
   from the EU’s existing infrastructure budget for the period 2012-2013. By allowing projects easy access to
   capital, the Project Bonds Initiative will enable co-operation between private stakeholders, the European
   Investment Bank (EIB) and the EU to support the financing of commercially viable infrastructure projects
   in the areas of transport, energy and information communications technology (ICT).


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