ANNOUNCEMENT 22 Sep 2015

In September 2015, the government of Austria announced a change in private-sector financial support.

NUMBER OF INTERVENTIONS

1

  • 1 harmful
  • 0 neutral
  • 0 liberalising

SOURCE



EFSI Information Sheet about the project. Available at
http://www.eib.org/projects/pipeline/2015/20150689.htm

European Commission (20 July 2015): The Investment Plan for Europe: Questions and Answers. Available at
http://europa.eu/rapid/press-release_MEMO-15-5419_en.htm

EIB: European Fund for Strategic Investments - Questions and Answers. Available at http://www.eib.org/attachments/press/investment_plan_for_europe_qa_en.pdf


Inception date: 10 Mar 2016 | Removal date: open ended

State loan

 On 22 September 2015, the European Investment Bank agreed to provide 40 million EUR for the construction of two wind parks in Lower Austria and Burgenland, as part of the European Fund for Strategic Investments (henceforth: EFSI). The wind parks will be managed by the Energiepark Bruck GmbH.
EFSI support does not fall under EU State Aid rules as it is meant as a tool to address "market failures or sub-optimal investment situations". However, the investment support does include favourable conditions in the form of public assumption of risk.
As described in the European Commission's Fact Sheet form 20 July 2015: "The type of risk-financing instruments will be designed so as to take uncertainty out ("first loss protection") of as such viable projects and therefore crowd-in private sector investments. Since the EFSI will take riskier tranches in investment projects, the private sector will be able to join under more favourable conditions." Furthermore, the EIB states that "The new initiative 'i.e. the EFSI' will benefit from the EIB's strong credit standing that enables funding at favourable conditions and across maturities".
A state measure in the GTA database is assessed solely in terms of the extent to which its implementation affects foreign commercial interests. On this metric, the investment support proposed here is discriminatory.
The list of affected trading partners is based on 2014 trade volumes.

AFFECTED SECTORS

 

AFFECTED PRODUCTS