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.