News & Analysis

Year-end spotlight: Europe’s infra-friendly response to the crisis

Government guarantees, a €1.5bn European infrastructure fund and the overarching presence of the European Investment Bank marked Europe’s infrastructure-friendly response to the crisis.

By
Bruno Alves
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By the end of the year, the European Union had signalled its unequivocal support for public-private partnerships as a key way to combat the recession.  This was conveyed both by a European Commission report encouraging member states to increase their use of PPPs, and by the launch of a €1.5 billion infrastructure fund led by the European Investment Bank (EIB) and several state-backed banks.

But what happened throughout the year was equally important, with the EIB taking a lead role in keeping the market going and several European governments putting in place guarantees to make sure PPPs reached financial close. Cumulatively, these measures represented a strong, infrastructure-friendly response from the European continent.

For comprehensive information on Europe's response to the financial crisis in 2009, consult the archived InfrastructureInvestor coverage listed on the right.