On 10 July 2012, the Economic and Financial Affairs Council (Ecofin) of the European Union (EU) approved the regulation enabling launch of the pilot phase of the Project Bonds Initiative, which seeks to drive private investment in strategic infrastructure projects in the EU in transport, energy and information and communication technology (ICT) sectors.
A goal of the Europe 2020 Project Bond Initiative is to attract institutional investors to back projects in these sectors by issuing bonds. The main role of the European Commission (EC) and the European Investment Bank (EIB) will be to absorb some of the risk associated with the projects.
For the pilot phase of the financing plan of the Project Bond Initiative (2012-2013), 230 million euros has been set aside to be distributed as follows: 200 million euros for transport networks, 20 million euros for ICT and broadband infrastructure and 10 million euros for the energy sector.
