Where next?
Where next?
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Looking ahead, our strategy will reflect the strategic goals of the EIB and the European Commission, while tailoring activity to ensure that we leverage our areas of expertise and maximise impact with the resources at our disposal.
Doing more with less
We will continue to scale-up our guarantee and equity product offering in support of SMEs, small midcaps and infrastructure to meet the strong demand we are seeing in the markets. With competing priorities at the budgetary level, and the frontloaded utilisation of InvestEU resources, we are going to have to do more with less. This will entail more efficient utilisation of the remaining InvestEU resources as well as freed up capital and reflows from previous initiatives. In parallel, we will look to level-up our fundraising activities and identify new sources of funding. These efforts will not only revolve around sourcing new mandates but also around fostering the collaboration with new stakeholder groups, including a stronger focus on the private sector.
Addressing the funding gap
The Draghi report spoke about a funding gap of around €800bn per year, which simply cannot be covered by the public sector alone. This is why we will be exploring ways of engaging the private sector more actively in our activities, making our products more attractive, minimising the administrative burden, and fostering collaborations with new stakeholder groups like foundations, pension funds and insurance companies. Meanwhile, we are also working on securing new mandates with the Polish, Portuguese and Dutch governments, plugging into the InvestEU Member State compartment, achieving synergies and boosting the flow of support to local businesses.
Covering the entire financing spectrum
On the back of the successful deployment of the ETCI, we have started to look into designing a successor programme, involving other Member States and – critically – looking into connecting more closely with the private sector. At the same time, we are exploring opportunities relating to the exit markets, in order to expand our offering to cover the entire company and innovation cycle, from seed to IPO, and reinforce our contribution to the Capital Markets Union, complementing the EIB offering.
Working with the Member States
Work will continue at European and local level with the Member States, including the roll-out of the new Spanish RRF mandate, but also exploring opportunities for new collaborations under the InvestEU Member State Compartment with Portugal, Poland and the Netherlands.
