An 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. €200 million will guarantee investments in transport networks, €20 million is set aside for information and communication technology (ICT) networks and €10 million for energy connections. Project bonds backed by the EU are expected to boost private investment in infrastructure projects by up to €4.6 billion in private investment according to the EC.
These pilot project bonds should be released in 2012 and 2013 and they will be managed by the European Investment Bank (EIB). If the scheme is positively accepted by financial markets, project bonds could be widely used in the EU’s next Multiannual Financial Framework 2014-2020.
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