Juncker Investment Plan Investigation Report - 容克投資計劃調查報告

Jul 25

What is the Juncker investment plan - 容克投資計劃是什麼

Director 指揮： KEITH YUNXI ZHU 朱耘希 | AUTUMN SHUANG QIU 秋爽

Supervisor 監視： Oliver Niles White 懷特尼爾斯奧利弗

Authors 作者： Jinwei Chen, Oliver Dalmi, Xiaobei Chen, Martia Karim, Fabio Pavoncello, Ajith Kurian, Ma Ying Chi, Junkai Fang, Max Soederlind, Rurik Högberg, Runzhou Chen, Lili Price, Ayman El Mezgueldi, Lorenzo Bianco

£39.99

PURCHASE COMPLETE REPORT 購買完整報告

BACKGROUND BRIEF
背景簡介

The Bank of China International was informed about an opportunity to attract European capitals to China via the Juncker Investment Plan. However, with information being ambiguous, and one of the investing entities being Samoa-incorporated, it was for BOCI to identify the legitimacy and reliability of this very project. As a long-term partner of BOCI, THE KEITH & EVEN GROUP saw the potential of this investment opportunity, and decided to take the opportunity to conduct a series of investigation on the Juncker Investment Plan, as a pre-assessment for the cooperation between TKEG China and BOCI on this particular investment project.
中銀國際聯絡人近期被告知一項一個從歐洲向中國引資的容克投資計劃。然而，信息模糊，及其中一個投資實體為薩摩亞建立。中銀國際則需要確認此計畫的可靠性及真實性。作為中銀國際的長期合作夥伴，奕資有限公司看到了此計畫的潛力，且決定對容克投資計畫展開一系列的調查，作為對奕資及中銀國際在此計畫上的合作而做的事先調查。

1 Junker Investment Plan In Brief
容克投資計畫簡介

The Juncker Plan, formally known as the EU Infrastructure Investment Plan, is a large-scale infrastructure investment program created in 2014 by the European Union under Jean-Claude Juncker, President of the European Commission and is a joint undertaking by the European Commission and the European Investment Bank. The primary financial component of the Juncker Plan is the European Fund for Strategic Investments (EFSI).
容克計劃，全名歐盟基礎設施投資計劃，是歐盟委員會主席讓-克洛德·容克（Jean-Claude Juncker）領導下的歐盟於2014年制定的一項大型基礎設施投資計劃，是歐盟委員會和歐洲投資銀行合作的聯合項目。容克計劃的主要財務組成部分是歐洲戰略投資基金 (EFSI)。

The Juncker Plan operates by giving loans to projects seeking to build infrastructure and generate jobs within the European Union. 9 EU member states have pledged to help cofinance projects. 75% of the available capital has been designated for infrastructure and strategic projects. These include transportation, telecommunications, energy efficiency initiatives, education infrastructure, and healthcare facilities. To quality for this category of projects, a project must require over EUR 25 million, and must apply directly to the European Investment Bank. The remaining 25% of the capital is available to SMEs and mid-caps through venture capital funds, banks, and other financial intermediaries.
容克計劃通過向尋求在歐盟內建設基礎設施和創造就業機會的項目提供貸款來運作。9個歐盟成員國已承諾幫助共同融資項目。75%的可用資金已指定用於基礎設施和戰略項目。其中包括交通、電信、能源效率舉措、教育基礎設施和醫療保健設施。為保證此類項目的質量，一個項目必須要求超過 2500 萬歐元，並且必須直接向歐洲投資銀行申請。其餘 25% 的資本可通過風險投資基金、銀行和其他金融中介機構提供給中小企業和中型企業。

While originally setting out to facilitate EUR 315 billion in investment by the end of 2018, it hit this goal in mid 2018 [1], and reacing over EUR 344 billion by the end of 2018. With this success, a new goal was set of EUR 500 billion with the goal of the end of 2020 [2].
雖然最初計劃到 2018 年底達到 3150 億歐元的投資，但它在 2018年中期就實現了這一目標 [1]，到2018年底達到了超過3440億歐元。隨著這一成功，歐洲投資銀行設定了一個新的5000億歐元目標，時間是 2020 年底 [2]。
Across its various investments, the fund is projected to have increased the GDP of the EU by 1.8% and create over 1.7 million new jobs within the EU by 2022. Of the funds invested, over 70% have been sourced from private resources. With participants in all 28 EU countries, over 1200 projects have been approved for financing, and over 1 million startups and small businesses have recieved access to otherwise unavailable financing [3].
通過各種渠道的投資，該基金預計到2022年將使歐盟的GDP增加1.8%，並在歐盟內創造超過170萬個新工作崗位。在投資的資金中，超過70%來自私人投資。在所有28個歐盟國家的參與者中，超過1200個項目已獲批融資，超過100萬家初創企業和小企業獲得了原本無法獲得的融資 [3]。

As of 2021, the Juncker Plan has now been incorperated under the broader umbrella of the InvestEU program, however this does not change its functions, goals, or operations [2].
截至2021年，容克計劃現已納入InvestEU計劃的更廣泛的保護範圍內，但這並沒有改變其功能、目標或運營 [2]。

2 Junker Investment Plan and Chinese Government
中國政府參與容克投資計畫

On June 29, 2015, Premier Li Keqiang delivered a speech on "Join Hands to Create a New Situation in China-EU Relations" at the China-EU Business Summit in Brussels. The speech indicated that China was willing to join with the Junker Investment Plan (Europe Investment Plan, hereinafter are referred to as Junker Investment Plan) and achieve economic breakthroughs in four areas: China-EU infrastructure joint construction, China-EU equipment manufacturing, China-EU financial cooperation, and China-EU trade and investment liberalization to deepen China-EU practical cooperation[6].
2015年6月29日，國務院總理李克強在布魯塞爾中歐工商峰會發表《攜手開創中歐關係新局面》的演講。演講表明，中方願與容克投資計畫（歐洲投資計畫）對接，並從中歐基礎設施共建、中歐裝備製造、中歐金融合作、貿易投資自由化四個領域實現經濟突破，深化中歐務實合作[6]。

Opportunities
机遇
1. China-EU Infrastructure Joint Construction
  中歐基礎設施共建
  
  Infrastructure construction is the entry point for China-EU international capacity cooperation. To support the construction of European transportation and energy networks, the European Union has launched Junker investment plan with a total investment of 315 billion euros. China is able to and willing to actively participate in this investment plan, and China will support strong and reputable Chinese companies to participate in infrastructure projects such as the Pan-European transportation networks, the China-Europe Europe Sea Express, and the new Eurasian Continental Bridge[6]
  基礎設施建設是中歐國際產能合作的切入點。為支援歐洲交通和能源網路等建設，歐盟推出了投資總額為3150億歐元的容克投資計畫。中方有能力也有意願積極參與這一投資計畫，並支援實力強、有信譽的中方企業參與泛歐交通網絡、中歐陸海快線、新亞歐大陸橋等基礎設施項目[6]。
  
  China-EU Cooperation 2020 Strategic Plan (Unable to find official information)
  《中歐合作2020戰略規劃》（無法查找到官方資料）
2. China-Europe Equipment Manufacturing——Third Party Cooperation
  中歐裝備製造——協力廠商合作
  
  To carry out capacity cooperation projects in Central and Eastern Europe, Chinese companies must make full use of their advantages in equipment manufacturing and integration capabilities, and they must also purchase some equipments from European countries to provide reliable equipments for infrastructure construction and industrial development[6].
  中國企業在中東歐地區開展產能合作專案，要發揮自身裝備製造和集成能力優勢，也要採購歐洲國家部分裝備，為基礎設施建設和產業發展提供可靠裝備[6]。
3. China-EU Financial Cooperation
  中歐金融合作
  
  To meet the needs of industrial investment, the two sides must make breakthroughs in financial cooperation——China is willing to support European development by purchasing EIB Bonds, direct investment, establishing joint investment funds etc.[6] :雙方為滿足產業投資需求，要在金融合作上取得突破——中方願以購買歐洲投資銀行債券、直接投資、建立共同投資基金等多種方式參與歐洲發展[6]：
  - China-EU Joint Investment Fund
    中歐共同投資基金
    
    Silk Road Fund and the European Investment Fund (EIF) signed the China-Europe Joint Investment Fund Co-investment Agreement in April 2018, officially establishing the China-Europe Joint Investment Fund.[7]
    絲路基金與歐洲投資基金（EIF）於2018年4月簽署《中歐共同投資基金共同投資協定》，正式設立中歐共同投資基金。[7]
    
    The EU-China Joint Investment Fund has an investment scale of 500 million Euros and an investment period of 3 years[8]. The China-EU Joint Investment Fund mainly invests in European sub-funds to indirectly invest in small and medium-sized enterprises that promote China-Europe cooperation and are promising, and it focuses on the fields of transportation, energy conservation, information communication, industrial production capacity, life and health, etc., which have a broad space for cooperation in industries between China and Europe.
    中歐共同投資基金投資規模5億歐元，投資期3年[8]。中歐共同投資基金主要通過投資歐洲的子基金，間接投向促進中歐合作、商業前景較好的中小企業，重點關注交通、節能、資訊通信、工業產能和生命健康等在中歐之間具有廣闊合作空間的行業。
    
    During the 20th China-EU Leaders’ Summit, Silk Road Fund and European Investment Fund signed the Memorandum of Understanding on the Implementation of the First China-EU Joint Investment Fund and Continued Deepening of Cooperation, and announced the launch of the first China-Europe Joint Investment Fund "Kay Hui M&A Fund Phase II" (20th summit). The fund raised 600 million euros (approximately US$690 million) in the first phase of financing, supported by the European Strategic Investment Fund under the "Junker Plan", China Development Bank, China Silk Road Fund, etc., with the goal of financing 1.2 billion euros for medium-sized companies[9].
    在第二十次中國歐盟領導人會晤期間，絲路基金與歐洲投資基金簽署《關於中歐共同投資基金首單專案落地與繼續深化合作的諒解備忘錄》，宣佈啟動第一支中歐共同投資基金“凱輝並購基金二期”（20th summit）。該基金首期融資募集到6億歐元（約合6.9億美元），由“容克計畫”下的歐洲戰略投資基金和中國國家開發銀行、中國絲路基金等共同支援，目標是為中型企業融資12億歐元[9]。
  - China Purchases European Investment Bank Bonds (Unable to find official information)
    中方購買歐洲投資銀行債券（無法查找到官方資料）
  - Improve the RQFII system
    健全RQFII制度
    
    SAFE has announced the removal of investment limit for Qualified Foreign Institutional Investors (QFII) and RMB Qualified Foreign Institutional Investors (RQFII), as well as restrictions on RQFII pilot countries and regions.[10]
    國家外匯管理局已宣佈取消合格境外機構投資者（QFII）和人民幣合格境外機構投資者（RQFII）投資額度限制，也取消了RQFII試點國家和地區限制。[10]
    
    At the same time, the Measures for the Administration of Domestic Securities Investment by QFII and the Pilot Measures for the Domestic Securities Investment of RQFII have been revised and integrated to form the Measures for the Administration of Domestic Securities and Futures Investment for QFII and RQFII (hereinafter referred to as the “Administrative Measures”) and Regarding the Implementation of the Measures for the Administration of Domestic Securities and Futures Investment for QFII and RQFII Regulations on relevant issues.[10]
    同時，對《合格境外機構投資者境內證券投資管理辦法》、《人民幣合格境外機構投資者境內證券投資試點辦法》進行了修訂整合，形成了《合格境外機構投資者及人民幣合格境外機構投資者境內證券期貨投資管理辦法》（以下簡稱《管理辦法》）和《關於實施〈合格境外機構投資者及人民幣合格境外機構投資者境內證券期貨投資管理辦法〉有關問題的規》（以下簡稱《實施規定》）。[10]
4. Improve Trade Liberalization
  提升贸易自由化水平
  
  China hopes that EU will take advantage of the opportunity of export control reform to adjust and broaden export restrictions on dual-use products to China, and strengthen cooperation and experience exchange in high-tech fields such as space technology and manned spaceflight. [6]
  中方希望歐方利用出口管制改革契機，調整放寬軍民兩用等產品對華出口限制，加強空間技術、載人航太等高科技領域的合作與經驗交流。[6]
  
  To upgrade the level of trade and investment liberalization, the two sides have completed the China-EU Investment Agreement negotiations as scheduled on December 30, 2020 but both sides haven't signed the agreement.[11]
  為提升貿易投資自由化水準，雙方已於2020年12月30日如期完成中歐投資協定談判，但尚未簽署協定。[11]
Risks
风险
1. The Epidemic Has Not Yet Stabilized
  新冠肺炎疫情尚未穩定
  
  As the epicenter of the COVID-19 outbreak, the epidemic has led to a significant decline in external demand in Europe. At the same time, it is accompanied by the uncertainty of the secondary epidemic and the vaccine mass production application, making the European economic recovery weaker than expected.
  作為新冠肺炎疫情的重災區，新冠疫情已經導致歐洲外部需求銳減顯著，並同時伴有二次疫情和疫苗量產應用的不確定性，使得歐洲經濟復甦弱於預期。
2. Xinjiang Issue
  新疆問題
  
  There are still conflicts between China and Europe on the human rights issue in Xinjiang. Beijing implemented punitive measures to prevent people on the sanctions list from traveling to China or doing business with Chinese companies in March 2021 in response to Western sanctions against Chinese officials on the Xinjiang issue. However, the EU stated that China’s sanctions are not based on international law, and the EU’s measures are aimed at violations of human rights stipulated in the UN treaty.
  中方與歐方在新疆人權問題上尚存衝突。北京在2021年3月實施阻止制裁名單上的人員到中國旅行或與中國公司做生意的懲罰性措施，以回應西方針對新疆問題對中國官員的制裁。但歐盟表示，中國的制裁並不是基於國際法，而歐盟的措施是針對聯合國條約中規定的侵犯人權的行為。
3. Unstable European Politics
  歐洲政局尚未穩定
  
  The fragmented situation of European Parliament will continue for the entire five-year term. It means that the European Parliament’s process of a series of important legislative affairs will be more complicated, such as free trade agreements, foreign policy, and EU budget issues, and may aggravate Europe political uncertainty.
  歐洲議會的碎片化局面將持續整個五年任期，這意味著歐洲議會在一系列重要立法事務上的進程將更為複雜，例如自由貿易協定、外交政策以及歐盟預算等問題，並且有可能加劇歐洲政治的不確定性。
Junker Investment Plan Implement (China Participates) List
容克投資計畫（中方參與）實施清單

    
    
    Document/Link
文件/鏈接
    Official Back-Up
官方備案
    Notes
備註
  


    China-EU Infrastructure Joint Construction
中歐基礎設施共建
    China-EU Cooperation 2020 Strategic Plan
中歐合作20202年戰略規劃
    China-EU Cooperation 2020 Strategic Plan
中歐合作20202年戰略規劃
    No
否
    -
  

    
    Chinese companies participate in the pan-European transportation network
中方企業參與泛歐交通網絡
    None
無
    No
否
    -
  

    
    China-Europe Land Sea Express
中方企業參與中歐陸海快線
    Turkey Anyi High-speed Railway was completed and opened to traffic; Munner；
The cooperation between the Jakarta-Bandung high-speed railway, China-Laos, Hungary-Serbia and other railways is actively advancing[13]
土耳其-安伊高速鐵路通車；
雅萬高鐵中老、匈塞等鐵路合作積極推進[13]
    Railway Thirteenth Five-Year Development Plan
鐵路“十三五”發展規劃
    -
  

    China-Europe Equipment Manufacturing
中歐裝備製造
    
    None
無
    No
否
    -
  

    China-EU Financial Cooperation
中歐金融合作
    China-EU Joint Investment Fund
中歐共同投資基金
    1. 20th China-EU Leaders’ 
第二十次中歐領導人會晤聯合聲明
2. The first China-Europe mutual investment fund raises 600 million euros in the first tranche
第一個中歐共同投資基金首期募資6億歐元
    Yes
是
    -
  

    
    China Purcheses European Investment Bank Bonds
中方購買歐洲投資銀行債券
    None
無
    No
否
    -
  

    
    the Implementation of the First China-EU Joint Investment Fund
第一支中歐共同投資基金啟動
    Memorandum of Understanding on the Implementation of the First Project of the China-EU Joint Investment Fund and the Continued Deepening of Cooperation
《關於中歐共同投資基金首單專案落地與繼續深化合作的諒解備忘錄》
    Unable to find official documents
未找到文件
    
  

    
    Improve the RQFII system
健全RQFII制度
    1. Administrative Measures for the Peripheral Securities and Futures Investment of QFII and Relative Rules Explanation
關於《優秀境外機構投資者及人民幣境外機構投資者周邊證券期貨投資管理辦法》及其配套規則的說明
2. Measures for the Administration of Domestic Securities and Futures Investment for QFII and RQFII
合格境外機構投資者及人民幣合格境外機構投資者境內證券期貨投資管理辦法
3. Regarding the Implementation of the Measures for the Administration of Domestic Securities and Futures Investment for QFII and RQFII Regulations 
關於實施〈合格境外機構投資者及人民幣合格境外機構投資者境內證券期貨投資管理辦法〉有關問題的規
    Yes
是
    -
  

    Improve Trade Liberalization
提升贸易自由化水平
    
    1. EU-China Comprehensive Agreement on Investment
中歐投資協定(無中文版)
2. China-Europe investment will bring more certainty to European companies investing in China
中歐投資將給歐企赴華投資帶來更多確定性
    Yes
是
    Negotiations were completed on December 30, 2020, but this agreement has not been signed so far
2020年12月30日談判完成，但至今未簽署此協議
  

Summary: In the Junker Investment Plan, China has been actively involved in the joint construction of infrastructure, financial cooperation and the promotion of trade liberalization. However, due to time constraints, it may not be possible to conduct in-depth investigation. None of the official filing materials have been inquired in the fields of equipment manufacturing investment and China's investment in European Investment Bank bonds. The China-EU Investment Agreement was negotiated on December 30, 2020, but the two parties have not yet signed the agreement.
小結：經調查，在容克投資計畫中，中方在基礎設施共建、金融合作及提昇貿易自由化水平都有相當積極的參與度，但也許由於時間緊迫無法進入深度調查，本調查小組在中歐裝備製造投資、中方對歐洲投資銀行債券投資等領域均未查詢到任何官方備案資料。中歐投資協定與2020年12月30日談判完成，但至雙方至今未簽署協議。

3 Offshore Company Regulations in Europe[13]
歐洲離岸公司相關法規[13]

Nowadays, the European Union is a full-scale player of the offshore business. Such countries as Great Britain, Switzerland, Cyprus and Luxembourg are the major offshore centers of the EU, allocating the major share of the overall offshore capital. However, the EU provides a collective policy against the offshore zones and shadow economy connected with them.
如今，歐盟是離岸業務的全面參與者。英國、瑞士、塞浦路斯和盧森堡等國是歐盟的主要離岸中心，佔整體離岸資本的主要份額。與此同時，歐盟針對離岸區域和與之相關的影子經濟提供了集體政策。

The legislative measures are conducted very actively and the m[7]ajority of them are efficient. These measures include the united consolidates corporate tax base for companies and creation of the EU tax havens list. The governments of the European countries have to be sure that their corporate tax systems are transparent, fair and do not provoke unlawful companies and transactions from other regions.
歐盟的立法措施非常積極，且大多數是有效的。這些措施包括聯合鞏固公司的公司稅基和創建歐盟避稅天堂名單。歐洲國家的政府必須確保他們的公司稅系統透明、公平，不會引起其他地區的非法公司和交易。

Anti tax avoidance directive[14]
反避稅指令[14]

On 28 January 2016 the Commission presented its proposal for an Anti-Tax Avoidance Directive as part of the Anti Tax Avoidance Package. The Package contains concrete measures to prevent aggressive tax planning, boost tax transparency and crete a level playing field for all businesses in the EU.
2016年1月28日，歐盟委員會提交了其關於反避稅指令的提案，作為反避稅計劃的一部分。該計劃包含防止激進稅收籌劃、提高稅收透明度並為歐盟所有企業創造公平競爭環境的具體措施。

It creates a minimum level of protection against corporate tax avoidance throughout the EU, while ensuring a fairer and more stable environment for businesses. The general trend nowadays is that the share of offshore financial assets flowing from the developed regions is decreasing and yielding to the expansion of the deve oping regions, which h [8]as growth scale of about 2% annually. This is happening mainly due to the adoption of regulative measures aimed at fighting tax evasion and money laundering in the EU as attempts to bring money back from offshores. (Full council directives attached in appendix)
它為整個歐盟的企業避稅提供了最低水平的保護，同時確保為企業提供更公平、更穩定的環境。目前的總體趨勢是，來自發達地區的離岸金融資產份額正在下降，並受發展中地區的擴張影響，每年以2%左右的規模增長。發生這種情況的主要原因是歐盟採取了試圖將資金從離岸公司帶回規章制度。
Information of Offshore Jurisdictions and “Tax Heaven” in EU[15]
灣歐盟離岸司法管轄區及“稅收天堂”信息[15]

It is believed that the lists published by the OECD and the International Monetary Fund, which use different criteria for determining tax havens, are highly politicized. At the same time, the index of financial secrecy of tax law and the list of "Oxfam" from the worst corporate tax havens are more useful. Several large countries, in particular the Netherlands, the United Kingdom, Switzerland, Singapore and Ireland, have reported that they are serving as global channels for transferring money to offshore financial centers, according to the study. Together, these five channels convey 47% of corporate offshore investment from tax havens.
使用不同的標準，經合組織和國際貨幣基金組織公佈的避稅港的名單被認為高度政治化。相反，稅法財務保密指數和來自最差企業避稅天堂的“樂施會”名單更有用。研究顯示，幾個大國，特別是荷蘭、英國、瑞士、新加坡和愛爾蘭，已報告稱它們正在充當向離岸金融中心轉移資金的全球渠道。這五個渠道總共從避稅天堂傳輸了 47% 的企業離岸投資。

Each jurisdiction specializes in geographic and industrial sectors. For example, the Netherlands prefer holding companies, while Luxemburg promotes administrative services. Hong Kong's geographic specialization is combined with the British Virgin Islands and Taiwan. These calculations refute the myth of tax haven as exotic distant islands, which are difficult, if not impossible, to regulate. Many offshore financial centers are highly developed countries with a strong regulatory environment.
每個司法管轄區都專門研究地理和工業部門。例如，荷蘭更喜歡控股公司，而盧森堡則提倡行政服務。香港的地理專業化與英屬維爾京群島和台灣相結合。這些計算駁斥了避稅天堂是異國情調的遙遠島嶼的神話，這些島嶼即使不是不可能，也很難監管。許多離岸金融中心都是高度發達的國家監管環境。
EU list of non-cooperative jurisdictions[16]
歐盟非合作管轄區名單[16]

The EU is working to improve international tax governance. Given the global nature of unfair tax competition, this also means addressing external challenges to EU countries' tax bases.
歐盟正在努力改善國際稅收治理。鑑於不公平稅收的全球性質競爭，這也意味著應對歐盟國家稅基的外部挑戰。

The list adopted by the Council on 22 February 2021 is composed of:
理事會於 2021 年 2 月 22 日通過的名單包括：

American Samoa
美國薩摩亞
Anguilla
安圭拉
Dominica
多摩西亞
(new)Fiji
新斐濟島
Guam
關島
Palau
帕勞

Panama
巴拿馬
Samoa
薩摩亞
Trinidad and Tobago
特里尼亞
US Virgin Islands
維爾京群島
Vanuatu
瓦努阿圖
Seychelles
塞舌爾

The list becomes official upon publication in the Official Journal, see Appendix.
該名單在官方期刊上發表後成為正式名單，請參閱附錄。

Data References
數據參考

European Commission. (2018, July 18). Juncker Plan exceeds original €315 billion investment target - EU monitor. EU Monitor. https://www.eumonitor.eu/9353000/1/j9vvik7m1c3gyxp/vkq5hhtcdtyq?ctx=vjp5ckt6m4rn
European Commission. (2019a, June 20). Juncker Plan reaches almost €410 billion in triggered investment across the EU. European Commission - European Commission. https://ec.europa.eu/commission/presscorner/detail/en/IP_19_3330
European Commission. (2019b, August 22). Juncker Plan has made major impact on EU jobs and growth. European Commission - European Commission. https://ec.europa.eu/commission/presscorner/detail/en/IP_19_6119
European Investment Bank. (2020, June 20). RENTEL OFFSHORE WIND. EIB. https://www.eib.org/en/projects/pipelines/all/20150619
Otary. (n.d.). Rentel. Retrieved June 6, 2021, from https://www.otary.be/en/projects/rentel
李克強訪歐：願參與3150億歐元歐洲投資計畫望放寬軍民兩用品出口. (2015). Retrieved 6 June 2021, from https://www.observersnews.com/economy/2015_06_30_325049_s.shtml
第二十次中國歐盟領導人會晤聯合聲明(全文）. (2018). Retrieved 6 June 2021, from https://www.fmprc.gov.cn/ce/cebe/chn/zozyzcwj/celdr/t1578374.htm
中歐共同投資基金：深化互利合作促進資金融通_光明網. (2019). Retrieved 6 June 2021, from https://news.gmw.cn/2019-04/25/content_32776451.htm
第一支中歐共同投資基金首期募資6億歐元-新華網. (2018). Retrieved 6 June 2021, from http://www.xinhuanet.com/world/2018-08/07/c_1123237088.htm
關於《合格境外機構投資者及人民幣合格境外機構投資者境內證券期貨投資管理辦法（徵求意見稿）》及其配套規則的說明Retrieved 6 June 2021, from http://www.csrc.gov.cn/pub/zjhpublic/zjh/201901/P020190131645144511526.pdf
歐盟:中歐投資協定將給歐企赴華投資帶來更多確定性_滾動新聞_中國政府網. (2018). Retrieved 6 June 2021, from http://www.gov.cn/xinwen/2021-03/13/content_5592743.htm
鐵路“十三五”計畫Retrieved 6 June 2021, from http://www.csrc.gov.cn/pub/zjhpublic/zjh/201901/P020190131645144511526.pdf
Buijze, R., June 14, 2016. The Categorisation of Tax Jurisdictions in Comparative Tax Law Research. Erasmus Law Review,.
Eur-lex.europa.eu. August 5, 2021. COUNCIL DIRECTIVE amending Directive (EU) 2016/1164 as regards hybrid mismatches with third countries.
Yu, S., January 20, 2021. TAXATION AND OFFSHORE HEAVENS IN EU COUNTRIES. [online] Dspace.wunu.edu.ua.
Eur-lex.europa.eu. 2021. Council conclusions on the revised EU list of non-cooperative jurisdictions for tax purposes.

Appendix
附錄

COUNCIL DIRECTIVE amending Directive (EU) 2016:1164 as regards hybrid mismatches with third countries.pdf
Council conclusions on the revised EU list of non-cooperative jurisdictions for tax purposes.pdf

4 Flaws in Junker Investment Plan
容克投資計劃缺陷

Problematic Geographical Concentration
項目地理分佈存疑

EFSI’s investments mainly favor the more advanced economies in Western Europe, to the detriment of Central and Eastern Europe. Hence, this concentration would run counter to the objective of cohesion between European regions.
歐洲戰略投資基金的投資主要有利於西歐較發達的經濟體，但對中歐和東歐不利。因此，這樣的分佈與歐洲地區之間的凝聚力目標背道而馳。

There are two investment windows in EFSI - The Infrastructure and Innovation Window(IIW) and the Small and Medium Enterprises Window(SMEW). As at 30 June 2018, financing under the IIW was concentrated (47 %) in three Member States, thus exceeding the IIW geographical concentration limit of 45 % in any three Member States as set in EFSI’s Strategic Orientation. There are no concentration limits set for the SMEW, but the same three Member States accounted for 30 % of the financing. These three countries are France (18 % or €6.2 billion), Italy (17 % or €6 billion) and Spain (12 % or €4.3 billion). [1]
歐洲戰略投資基金有兩個投資窗口——基礎設施與創新類項目（IIW）和中小企業類項目（SMEW）。截至 2018 年 6 月 30 日，基礎設施與創新類項目下的融資集中（47%）在三個成員國，因此超過了歐洲戰略投資基金戰略方向中設定的任何三個成員國 45% 的基礎設施與創新類項目地域集中度限制。中小企業類項目沒有設置集中度限制，但相同的三個成員國占融資的 30%。這三個國家是法國（18% 或 62 億歐元）、義大利（17% 或 60 億歐元）和西班牙（12% 或 43 億歐元）。[1]

The latest research shows that the geographical concentration of EFSI IIW in any three states continued to reach the maximum threshold established by the Steering Board and by the end of April 2019 it slightly exceeded 45 percent percent of financed operations. France, Italy and Spain rank highest in terms of guarantees for signed projects, followed by Germany, Greece and Poland.
最新研究表明，歐洲戰略投資基金的基礎設施與創新類項目在任何三個州的地理集中度達到指導委員會設定的最大閾值，到2019年4月底，它略超過融資業務的45%。法國、義大利和西班牙在簽約項目的擔保方面排名最高，其次是德國、希臘和波蘭。

Graph 1. Geographical distribution of EFSI IIW guarantees signed, April 2019(million EUR)[1] 圖 1. 2019 年 4 月簽署的歐洲戰略投資基金的基礎設施與創新類項目擔保地理分佈(百萬歐元)[1] — Graph 1. Geographical distribution of EFSI IIW guarantees signed, April 2019(million EUR)[1]
圖 1. 2019 年 4 月簽署的歐洲戰略投資基金的基礎設施與創新類項目擔保地理分佈(百萬歐元)[1]

The Juncker Plan and the Promotion of PPP
容克計劃與政府和社會資本合作方式的推廣

Public-private partnerships (PPPs) are contracts where a private company pays for, builds and sometimes runs an infrastructure project or service that is traditionally delivered by the public sector, such as schools, roads, railways and hospitals.
政府和社會資本合作 (PPP) 是私營公司支付、建造，並有時運行傳統上由公共部門（例如學校、公路、鐵路和醫院）提供的基礎設施項目或服務的合作方式。

But the claims around the benefits of private financing instruments such as PPPs have broken apart. PPPs are increasingly facing a public backlash as their effects become clearer over time, and some European countries have moved away from the model. In March 2018, the European Court of Auditors published a special report exposing the failure of PPPs and slamming EU’s support for this model via the EIB and the EU funds.
但圍繞政府和社會資本合作方式等私人融資工具的好處的說法已不復存在。隨著時間的推移，政府和社會資本合作方式的負面影響越來越明顯，因此受到越來越多公眾的強烈反對，一些歐洲國家已經放棄了這種模式。2018年3月，歐洲審計院發布了一份特別報告，揭露政府和社會資本合作方式的失敗，並抨擊歐盟通過歐洲投資銀行和歐盟基金支援這種模式。

In the face of the growing skepticism and evidence against PPPs, it would have been logical for the EIB and the Commission to adopt a cautious approach in the use of such mechanisms under the Investment Plan for Europe. But the figures show that the EFSI is actually promoting the PPP model around Europe: Until the end of 2018, the EFSI had approved and/or signed at least 28 PPP projects through guarantees of at least EUR 3.995 billion[1]. It is striking that for 14 (exactly half) of these PPP projects, the EIB and European Commission do not disclose the amount of financial support provided. This represents a genuine lack of transparency, considering this is public money (EIB loans) guaranteed by taxpayers money (the EU budget). Looking at a breakdown of these investments by sector, the largest number are projects in the transport sector (17 projects), followed by health (4), education (2), digital (2), energy (1), social housing (1) and flood defence infrastructure (1). In terms of geographical coverage, the biggest beneficiaries are Germany (6), the Netherlands (5), Ireland (3), France (2), Poland (2) and Austria (2).
面對越來越多的對政府和社會資本合作方式的質疑，歐洲投資銀行和委員會應在容克投資計劃下對此類機制的使用採取謹慎態度。但數據顯示，歐洲戰略投資基金實際上是在歐洲推動政府和社會資本合作方式模式：截至2018年底，歐洲戰略投資基金通過和/或簽署了擔保至少為39.95億歐元的28個政府和社會資本合作方式項目[1]。令人驚訝的是，對於其中14個（正好一半）的政府和社會資本合作方式項目，EIB和歐盟委員會沒有披露提供的資金支援金額。考慮到這是由納稅人的錢（歐盟預算）擔保的公共資金（歐洲投資銀行貸款），這代表了真正缺乏透明度。從這些投資的部門細分來看，數量最多的是交通部門的項目（17個項目），其次是健康（4）、教育（2）、數字（2）、能源（1）、社會住房（1）)和防洪基礎設施(1)。就地域覆蓋而言，最大的受益者是德國（6）、荷蘭（5）、愛爾蘭（3）、法國（2）、波蘭（2）和奧地利（2）。

Some of the most problematic trends and controversial projects in the field are exposed below:
該領域一些問題最大的政府和社會資本合作項目如下：

Germany: Autobahn A10 A24 PPP Neuruppin – Pankow;
德國：高速公路A10 A24 PPP 諾伊魯平 – 潘科項目;
The Netherlands: A9 Amsterdam PPP; A6 Almere Motorway PPP;
荷蘭：A9 阿姆斯特丹 PPP項目；A6阿爾梅勒高速公路 PPP項目;
Greece: Regional Airports PPP Project;
希臘：區域機場PPP項目;
Ireland: Primary Care Centers PPP;
愛爾蘭：初級保健中心PPP項目;
Austria: KRANKENHAUS WIEN NORD(2010);
奧地利：北維也納醫院 PPP項目(2010) ;
United Kingdom: MIDLAND METROPOLITAN HOSPITAL PPP(2015);
英國：美聯都會醫院PPP項目（2015）;
Sweden: Nya Karolinska Solna Hospital PPP Project (2010);
瑞典：新卡羅林斯卡索爾納醫院PPP項目(2010);

(See Section 2 for part of projects' details)
(部分案例詳情見第二章)

Low Transparency
項目的低透明度

The environmental and social assessments carried out by the EIB, as well as its monitoring of projects and their implementation, all lack transparency. The results of the Bank’s due diligence are made public only after the EIB Board of Directors approves a project, which is not consistent with the practices of its peer institutions. The summary of the EIB’s environmental and social appraisal is not made public before projects are approved by the Board. Also, the Environmental and Social Impact Rating, which indicates the anticipated level of environmental and social risk for a given project, is not made public at any stage, although it may be available on request. This prevents stakeholders from meaningfully engaging with the EIB before financing decisions are taken and from bringing their possible concerns to the attention of the Bank before due diligence is finalized. Good practice among other multilateral development institutions – timely disclosure and addressing incoming inquiries and comments during project appraisal – is considered by the EIB as unnecessary interference with its top-down decision making process.
歐洲投資銀行進行的環境和社會評估以及對項目及其實施的監督都缺乏透明度。銀行盡職調查的結果只有在歐洲投資銀行董事會批准項目後才會公開，這與同業機構的做法不一致。在項目獲得董事會批准之前，歐洲投資銀行的環境和社會評估摘要不會公開。此外，儘管可以應要求提供，但環境和社會影響評級表明特定項目的環境和社會風險的預期水準在任何階段都不會公開。這不僅阻止了利益相關者在做出投資決定之前與聯係歐洲投資銀行，也阻止了他們在盡職調查完成之前向銀行提出他們的顧慮。其他多邊發展機構的良好做法——在項目評估期間及時披露和處理收到的詢問和評論——被歐洲投資銀行認為是對其自上而下的決策過程的不必要幹擾。

Un-transparent Investments into Equity Funds
股票基金投資不透明

The EIB argues that investment funds it supports are subject to the surveillance of the relevant national financial regulator where the fund is established. But as revelations of the Luxembourg Times – based on an internal audit at the EIB and additional work from the consultancy firm PWC – demonstrate, this is not always sufficient to avoid prohibited conduct and ensure sound monitoring of intermediated projects. Indeed, the audit reveals serious failings of the Bank on the anti money laundering front, especially as far as support to investment funds is concerned.
歐洲投資銀行辯稱，其支持的投資基金受到設立該基金的相關國家金融監管機構的監督。但根據《盧森堡時報》對歐洲投資銀行的內部審計和諮詢公司 PWC 的額外工作，揭示了歐洲投資銀行的所作所爲並不足以避免違禁行爲，也不能對內部項目起到有效的監控。事實上，審計揭示了銀行在反洗錢方面的嚴重失誤，尤其是在對投資基金的支持方面。

This confirms the fact that financial operations going through commercial banks bear serious risks for the EIB. Back in January 2018, an evaluation from the EIB focusing on its operations via financial intermediaries in the ACP regions under its Investment Facility raised serious concerns about the lack of control, monitoring and reporting on intermediated operations.
這印證了一個事實，即通過商業銀行進行的金融操作給歐洲投資銀行帶來了嚴重的風險。早在2018年1月，歐洲投資銀行的一項評估，側重於其投資機制下通過非加太地區的金融仲介機構開展的業務，引起了人們對中間業務缺乏控制、監測和報告的嚴重擔憂。

These findings contradict one of the arguments often used by the Bank, that the EIB’s participation in these funds leads to a significant improvement of their practices and E&S standards. This also casts serious doubt on how much control the EIB really has over the intermediary institution, and if any solid mechanisms are in place to avoid its funds being misused. And a similar paradox has emerged in the case of the Vinca waste incinerator project in Belgrade.
這些發現與歐洲投資銀行經常使用的其中一個論點相矛盾，即歐洲投資銀行參與這些基金來顯著改善其實踐和環境與社會標準。這也讓人嚴重懷疑歐洲投資銀行對仲介機構的真正控制權，以及是否有任何可靠的機制來避免其資金被濫用。而類似的悖論也出現在貝爾格萊德的Vinca垃圾焚燒爐項目中。
EIB Transparency in Practice
實踐中的歐洲投資銀行透明度

Despite the creation of a public register of documents and the publication of the minutes of the EIB Board of Directors meetings, the transparency of EIB operations – especially its active dissemination of information – remains limited. This lack of progress on the transparency front is clearly visible in the Aid Transparency Index, currently the only independent measure of aid transparency for the world’s major development agencies, produced by Publish What You Fund. In 2020, the EIB scored “fair” (58/100 points)[3] and stood far below some of its peer institutions, such as the EBRD, the World Bank or the Asian Development Bank (ADB).
儘管建立了公開的文件登記冊並公佈了歐洲投資銀行董事會會議記錄，但歐洲投資銀行運作的透明度——尤其是其積極傳播資訊——仍然有限。這種在透明度方面缺乏進展的情況，在透明度指數中清晰可見，該指數目前是世界主要發展機構援助透明度的唯一獨立衡量標準，由PublishWhatYouFund創建。2020年，歐洲投資銀行的得分為“一般”（58/100分）[3]，遠低於歐洲復興開發銀行、世界銀行或亞洲開發銀行等一些同行機構。

The Index pointed to several areas of poor transparency for the EIB, in particular the lack of data and documents that are essential to assess whether a project has achieved its development aims. This includes reviews and evaluations, objectives and results. Indeed, the EIB projects’ results are not published, and pre-project impact appraisals as well as reviews and evaluations are only available sometimes. It is therefore not surprising that the European Parliament regularly calls on the EIB to raise the bar on transparency. For example, in July 2020, in its annual report on the financial activities of the EIB, the European Parliament called for transparent decision-making, specifically concerning the meetings of the Management Committee and their outcomes, as well as enhanced transparency and access to information, especially regarding the selection, monitoring and evaluation of its activities and programmes. It urged the Bank to ensure the highest level of integrity of its financial intermediaries, and to guarantee that their loans are subject to the same transparency requirements as other types of loans.
該指數指出了歐洲投資銀行透明度較差的幾個領域，特別是缺乏評估項目是否已實現其發展目標所必需的數據和文件。這包括審查和評估、目標和結果。事實上，歐洲投資銀行項目的結果並未公佈，項目前的影響評估以及審查和評估僅在某些時候提供。因此，歐洲議會經常呼籲歐洲投資銀行提高透明度也就不足為奇了。例如，在2020年7月，歐洲議會在其關於歐洲投資銀行財務活動的年度報告中呼籲透明決策，特別是關於管理委員會會議及其結果的決策，以及提高透明度和資訊獲取，特別是關於其活動和計劃的選擇、監測和評估。它敦促世界銀行確保其金融仲介機構的最高誠信度，並保證它們的貸款與其他類型的貸款一樣遵守相同的透明度要求。
- SHORTCOMINGS IN THE PUBLICATION OF PROJECT RELATED DOCUMENTS:
  項目相關文件發布的不足：
  
  The EIB still fails to comply with transparency requirements from its own Transparency Policy and the EU legislation on access to information. It also lags behind the transparency and disclosure practices of other multilateral financial institutions. For instance, despite having created a public register of documents and making more documents available through this register, the EIB still fails to disclose all relevant project related documents or fails to disclose them in a timely manner.
  歐洲投資銀行仍然未能遵守其自身的透明度政策，和歐盟關於資訊獲取立法的透明度要求。它還落後於其他多邊金融機構的透明度和披露做法。例如，儘管建立了檔公開登記冊並通過該登記冊提供了更多檔，但歐洲投資銀行仍然未能披露所有與項目相關的檔或未能及時披露。
- ENVIRONMENTAL AND SOCIAL DATA SHEETS:
  環境和社會數據表:
  
  The EIB’s environmental and social appraisal of individual projects is summarized in the Environmental and Social Data Sheets. These documents are released only after the Board of Directors has already taken its decision on a specific finance proposal. This is problematic especially for projects with anticipated environmental and social impacts for which ESIAs have not yet been conducted. In comparison, the IFC publishes its Environmental and Social Review Summary (findings and recommendations related to environmental and social considerations) either 60 or 30 days before the relevant Board meeting, depending on the type of project at stake. There are also other key documents related to the environmental, social and development assessments of its operations that the EIB does not publish:
  歐洲投資銀行對單個項目的環境和社會評估在環境和社會數據表中進行了總結。這些文件僅在董事會就特定財務提案做出決定後才會發布。這對於具有預期環境和社會影響但尚未進行社會影響評估的項目來說尤其成問題。相比之下，國際金融公司會在相關董事會會議前60天或30天發布其環境和社會審查摘要（與環境和社會考慮相關的調查結果和建議），具體取決於所涉項目的類型。還有其他與歐洲投資銀行未公佈的業務環境、社會和發展評估相關的關鍵文件：
  - Result Measurement Sheets (ReM sheets);
    結果測量表（ReM 表）；
  - Overall Environmental and Social Assessment Form (which includes information on the EIB’s risk rating of the project and calculations of the greenhouse gas footprint assessment, including a description of footprint calculations assumptions);
    總體環境和社會評估表（包括EIB對項目的風險評級和溫室氣體足跡評估計算的資訊，包括對足跡計算假設的描述）；
  - Project monitoring reports;
    項目監測報告；
  - The Economic Rate of Return and Financial Rate of Return calculations, which calculate economic and financial rates related to the project, including environmentally-related considerations such as the cost of environmental externalities;
    經濟回報率和財務回報率計算，計算與項目相關的經濟和財務回報率，包括與環境相關的考慮因素，例如環境外部性的成本；
- PROJECT MONITORING INFORMATION
  項目監控信息
  
  Although the Bank requires project promoters to monitor the impacts of a project during its implementation until its completion, the EIB does not make this information publicly available. In addition, the Bank’s own monitoring reports or those commissioned from technical advisors are not disclosed unless an external stakeholder requests them from the Bank. Yet the existence of these documents is not mentioned in the public register, where they should at least be listed.
  儘管銀行要求項目發起人對項目進行全程檢測，但歐洲投資銀行並未公開這些資訊。此外，除非外部利益相關者向銀行提出要求，否則銀行自己的監測報告或委託技術顧問的監測報告不予披露。然而，這些文件的存在並沒有在公共登記冊中提及，至少應該在那裡列出。

Financial Intermediates - A Black Box of EIB Financing and Operation
金融仲介——歐洲投資銀行融資和運營的黑匣子

A considerable part of the EIB’s financing in the EU takes place via financial intermediaries: commercial banks, national promotional banks, micro-finance institutions and investment and equity funds.
歐洲投資銀行在歐盟內相當一部分的融資是通過金融仲介機構進行的：商業銀行、國家促銷銀行、小額信貸機構以及投資和股權基金。

As a matter of fact, the EIB provides next to no information on where the money ends up. Information about the ultimate beneficiaries is not made public due to commercial confidentiality clauses included in contracts with the financial intermediaries. This makes it impossible to assess the economic and social impact of the loans and prevents the development of a targeted approach to certain sectors or types of SMEs.
事實上，歐洲投資銀行幾乎沒有提供有關資金最終去向的資訊。由於與金融仲介機構簽訂的合同中包含商業機密條款，有關最終受益人的信息不會公開。這使得無法評估貸款的經濟和社會影響，並阻礙針對某些部門或類型的中小企業製定有針對性的方法。

Furthermore, the EIB does not provide information on how financial intermediaries have used its funds and whether they have proven capacity and capability to manage the environmental and social risks and impacts arising from their operations according to the EU standards. Information on final projects financed through the intermediaries is unknown, even on an aggregated level. Not applying the same standards to these loans exempts a large part of the EIB’s lending activity from transparency and openness principles, fails to ensure any accountability as to the way loans are spent and projects are carried out, and provides no details about their impact on the environment.
此外，歐洲投資銀行沒有提供有關金融仲介機構如何使用其資金的資訊，以及他們是否已證明有能力根據歐盟標準管理其運營所產生的環境和社會風險和影響。通過仲介機構資助的最終項目的資訊是未知的，即使是在匯總層面也是如此。對這些貸款不採用相同的標準，會使歐洲投資銀行的大部分貸款活動免於透明度和開放性原則，無法確保對貸款的使用方式和項目的實施進行任何問責，也沒有提供有關其對環境。

This approach also prevents people impacted by projects financed through financial intermediaries from executing their right to complain to the EIB Complaints Mechanism and the European Ombudsman. Bankwatch’s research showed that the EIB provided over € 22 million112 for the construction of at least 19 small and mini hydropower plants through financial intermediaries in Bosnia and Herzegovina, Croatia, Macedonia and Serbia between 2010 and 2014[2]. The Western Balkans are under threat of massive and poorly planned hydropower development, with hardly a river or stream left untouched by the plans. However, in most cases the public has no idea about these plans and the Bank’s involvement, which creates a major hole in the Bank’s accountability. Therefore, the EIB should collect and disseminate environmental information related to projects financed by financial intermediaries to ensure the same transparency standards as for direct operations.
這種做法還會阻止受到項目負面影響的人們對歐洲投資銀行進行投訴。Bankwatch的研究表明，2010 年至 2014 年間，歐洲投資銀行通過金融仲介在波斯尼亞和黑塞哥維那、克羅地亞、馬其頓和塞爾維亞提供了超過 2200 萬歐元的資金，用於建設至少19座小型和微型水電站[2]。此舉導致西巴爾乾地區正面臨大規模和水電開發計劃不周，幾乎所以河流或小溪都受到了計劃的影響。然而，在大多數情況下，公眾對這些計劃和銀行的參與一無所知，這在銀行的問責制中造成了重大漏洞。因此，歐洲投資銀行應收集和傳播與金融仲介機構資助的項目相關的環境資訊，以確保與直接運營相同的透明度標準。

Superficial Due Diligence and Monitoring of Projects
膚淺的盡職調查與項目監控

Although the existing Handbook should trigger thorough environmental and social due diligence, there is a pool of evidence suggesting that the Bank’s due diligence and monitoring of the projects’ compliance with the applicable standards remain superficial.
儘管現有的“手冊”倡導進行徹底的環境和社會盡職調查，但有大量證據表明，銀行對項目遵守適用標準的盡職調查和監督仍然是十分膚淺的。

On the corruption front, the outsourcing of due diligence is also a particularly concerning issue. The case - CORRIDOR VC IN BOSNIA AND HERZEGOVINA - is dedicated to the Bank’s support for the private equity fund Emerging Capital Partners (ECP). It is also worth noting the EIB’s support to the Abraaj Group (through a €20 million equity investment in the fund)[1], given the major corruption scandal that hit this prominent fund in 2019. Abraaj was active in the Middle East and received financing from numerous development banks. In its reply to our draft report, the Bank noted that EIB had exposure to seven funds managed by entities controlled by Abraaj Holding Limited when the first allegations of potential misuse of money were made at the beginning of 2018. In July 2018 the EIB opened an investigation, however no evidence was obtained that the misuse of money has impacted any funds in which EIB has invested. EIB is monitoring the outcome of the judicial proceedings in the USA and UK in relation to Abraaj Group executives. But even if the EIB’s investment may not be directly impacted, this story sheds light on the type of equity funds that can become EIB clients.
在腐敗方面，盡職調查的外包也是一個特別令人擔憂的問題。案例——波士尼亞赫塞哥維納E73公路——專門介紹了銀行對私募股權基金 Emerging Capital Partners (ECP) 的支援。還值得注意的是歐洲投資銀行對 Abraaj Group 的支持（通過對該基金的 2000 萬歐元股權投資）[1]，因為該基金在 2019 年遭遇了重大腐敗醜聞。該銀行指出，在 2018 年初首次提出可能濫用資金的指控時，歐洲投資銀行對由 Abraaj 股份有限公司控制實體管理的七支基金有風險敞口。2018 年 7 月，歐洲投資銀行開放調查，但是沒有證據表明濫用資金影響了歐洲投資銀行投資的任何基金。歐洲投資銀行正在監控美國和英國與 Abraaj 集團高管有關的司法程式的結果。但即使歐洲投資銀行的投資可能不會受到直接影響，這個故事也揭示了可以成為歐洲投資銀行客戶的股票基金類型。

References
參考

歐洲投資計劃 - 試點階段的批判性分析“容克計劃”(2019). Retrieved 23 June 2021, from https://bankwatch.org/wp-content/uploads/2019/09/EFSI-final.pdf
歐洲投資銀行能否成為“歐盟開發銀行”？(2020). Retrieved 23 June 2021, from https://bankwatch.org/wp-content/uploads/2020/11/2020-Can-the-EIB-become-the-EU-Development-Bank_Online.pdf
歐洲投資銀行(EIB) - 2020 年援助透明度指數 - Publish What You Fund. (2020). Retrieved 23 June 2021, from https://www.publishwhatyoufund.org/the-index/2020/eib/

5 Statistic of Problematic Signed Projects
問題項目之統計

Problematic Signed Projects Statistic
已簽署之問題項目統計

The Junker Investment Plan has signed a total of 656 projects, of which 28 have serious problems such as corruption, fraud, and financial fraud, accounting for 28.4%. Among all the problematic projects, projects that are related to corruption, bribery, abuse of power, and that adopt PPP mode, which is unmatched to project operations, account for 22% and 19% respectively. Among them, there are many well-known international companies. For example, Ericsson admitted that it violated the FCPA, engaged in bribery and falsified books and records for a long time; Renfe Operadora was fined 15.1 million euros for abuse of power; BBVA was accused of corruption Wait.
容克投資計劃已立項項目共656項，其中有28個項目存在貪污、欺詐、財務造假等嚴重問題，占比為28.4%。在所有存在嚴重問題的項目中，腐敗,賄賂,濫用職權的項目，及采用和項目運營方式不符的政府與社會資本合作（PPP）模式的項目占比最高，分別爲22%與19%。其中，不乏知名國際公司的存在，例如愛立信公司承認其違反 FCPA，長期從事賄賂、偽造賬簿和記錄；西班牙鐵路公司因濫用濫用職權而被罰款 1510 萬歐元；西班牙外換銀行被指控犯有腐敗罪等。

4% of the signed projects are problematic | 4%已簽署項目發現問題

Types of Issues 問題種類

NO.	Title	Location	EFSI financing	Total investment related to EFSI	Sector	Approval date
1	Smart Battery Systems 2 (egff)	France	50.00m	445.00m	Smaller companies; RDI	18/12/2020
2	Eac Vasilikos Ccgt Unit 6	Cyprus	Not Disclosed	Not Disclosed	Energy	16/12/2020
3	Portugal Water Distribution Optimization - North	Portugal	Not Disclosed	Not Disclosed	Environment and resource efficiency	16/12/2020
4	Digital Integrated Textile Manufacturing	Belgium; France; Germany; Italy; Sweden	Not Disclosed	Not Disclosed	RDI	16/12/2020
5	Bbva Rs Covid19 Response For Smes&midcaps	Spain	Not Disclosed	Not Disclosed	Smaller companies	11/12/2020
6	Boni Meat Production	Bulgaria	30.00m	60.90m	Bioeconomy	02/12/2020
7	Montepio Abs Covid19 Loan For Smes And Midcaps	Portugal	71.02m	300.00m	Smaller companies	27/11/2020
8	Snp Transformation Software	Germany; Poland	30.00m	73.20m	Smaller companies	26/11/2020
9	Avril Rdi Programme	France	50.00m	133.86m	Bioeconomy	19/11/2020
10	Ferrer Pharmaceutical Rdi Iii	Spain	50.00m	104.10m	RDI	18/11/2020
11	Megatem Heating Capex Programme	Poland	20.00m	30.48m	Energy	17/11/2020
12	Nouvel Hopital De Lens	France	85.00m	278.61m	Social infrastructure	11/11/2020
13	Megalis Bretagne Tres Haut Debit	France	150.00m	442.00m	Digital	11/11/2020
14	Icicle Wind Farm	Portugal	65.00m	121.40m	Energy	11/11/2020
15	Hvc District Heating Network Expansion	The Netherlands	50.00m	214.30m	Energy	11/11/2020
16	Wacker Chemie Sustainable Solutions	Germany	290.00m	605.00m	RDI	11/11/2020
17	Bucharest Medicine University	Romania	24.00m	46.94m	Social infrastructure; RDI	05/11/2020
18	Slsp Abs Covid19 Response For Sme & Midcaps	Slovakia	48.31m	385.00m	Smaller companies	26/10/2020
19	Tergooi Hilversum Hospital Development	The Netherlands	Not Disclosed	Not Disclosed	Social infrastructure	13/10/2020
20	Bizay (egff)	Portugal	20.00m	157.00m	Smaller companies; RDI	13/10/2020
21	Lbbw Covid-19 Abs For Smes & Midcaps	Germany	95.00m	840.00m	Smaller companies	05/10/2020
22	Minoryx (egff)	Spain	25.00m	222.50m	RDI	29/09/2020
23	Btv Covid-19 Abs For Smes & Midcaps	Austria; Germany	86.33m	560.00m	Smaller companies	22/09/2020
24	Magazino Robotics (egff)	Germany	12.00m	106.80m	Smaller companies	18/09/2020
25	Epic Broadband Network Development	Cyprus	19.00m	37.38m	Digital	17/09/2020
26	Madeira Electricity Network Modernisation	Portugal	45.00m	133.40m	Energy	17/09/2020
27	Hypo Vorarlberg Covid-19 Enhanced Support For ee	Austria	56.10m	120.00m	Energy	17/09/2020
28	Luminor Covid-19 Enhanced Support For Smes	Estonia; Latvia; Lithuania	75.00m	1,232.00m	Smaller companies	17/09/2020
29	Veneto Water Utilities Abs	Italy	124.00m	592.30m	Environment and resource efficiency	17/09/2020
30	Eiffel Energy Transition Covid-19 Top-up	EU Countries	30.00m	559.00m	Energy	17/09/2020
31	Deutsche Leasing Covid19 Action For Sme	Romania	38.84m	336.00m	Smaller companies	16/09/2020
32	Ing Bank Covid19 Enhanced Sme And Midcap Support	Belgium; Luxembourg; The Netherlands	120.75m	1,347.00m	Smaller companies	16/09/2020
33	Cluj Technical University	Romania	21.00m	39.15m	Social infrastructure; RDI	14/09/2020
34	Templafy (egff)	Denmark	12.00m	90.00m	Smaller companies	01/09/2020
35	Commerzbank Covid-19 Abs For Smes & Midcaps	Germany	124.69m	840.00m	Smaller companies	01/09/2020
36	Sipcam Oxon Agri-Products Development R&d	Italy	35.00m	74.50m	Bioeconomy	28/08/2020
37	Idnow (egff)	Germany	15.00m	133.50m	Digital	25/08/2020
38	Isp Enhanced Covid19 Sme And Midcap Support	Italy	89.61m	700.00m	Smaller companies	24/08/2020
39	Oncopeptides (egff)	Sweden	40.00m	356.00m	RDI	21/08/2020
40	Ucb Ro Covid19 Response For Smes And Midcaps	Romania	50.00m	140.00m	Smaller companies	21/08/2020
41	Gmp Energy Efficient Buildings	Spain	28.00m	41.80m	Energy	21/08/2020
42	Bbpm Enhanced Covid-19 Sme & Midcap Support ii	Italy	76.61m	1,190.00m	Smaller companies	07/08/2020
43	Prosol Agrofood And Rdi Investments	Spain	20.00m	38.83m	Bioeconomy	17/07/2020
44	Santander Covid19 Abs Support To Smes & Midcaps	Spain	143.00m	1,260.00m	Smaller companies	17/07/2020
45	Engie Solutions Dhc Networks	France	212.50m	603.90m	Energy	15/07/2020
46	Plysa Forest Fire Extinction Fleet	Spain	20.00m	46.78m	Environment and resource efficiency	14/07/2020
47	Dorothea Investment Vehicle	The Netherlands	30.00m	309.40m	Energy	14/07/2020
48	Bnpp Covid19 Response For Smes And Midcaps	France	103.05m	980.00m	Smaller companies	14/07/2020
49	Bavaria Social And Energy Efficient Housing	Germany	100.00m	259.13m	Energy; Social infrastructure	14/07/2020
50	Scf Portugal Covid-19 Abs For Smes And Midcaps	Portugal	55.00m	707.00m	RDI	13/07/2020
51	Erydel (egff)	Italy	30.00m	267.00m	RDI	09/07/2020
52	Figueira Environmental Enhancement	Portugal	27.50m	55.00m	Bioeconomy	09/07/2020
53	Animal Nutrition Capacity Expansion	Spain	15.00m	30.90m	Bioeconomy	09/07/2020
54	D-Orbit (egff)	Italy	15.00m	50.60m	RDI	29/06/2020
55	MMI (egff)	Italy	15.00m	133.50m	RDI	25/06/2020
56	Sb Polska Covid-19 Response For Smes & Mid-Caps	Poland	63.80m	392.50m	Smaller companies	16/06/2020
57	Spire (egff)	Luxembourg	20.00m	52.60m	RDI	12/06/2020
58	Bp Alto Adige Abs Covid19 For Smes And Midcaps	Italy	69.58m	560.00m	Smaller companies	12/06/2020
59	Kaunas Heating Capex Programme	Lithuania	55.00m	77.58m	Energy	11/06/2020
60	Logements Intermediaires Villes & Regions France	France	125.00m	144.57m	Social infrastructure	11/06/2020
61	Eiffel Biogas Fund	France; EU Countries	50.00m	642.60m	Bioeconomy	11/06/2020
62	Predirec Enr 2	France; EU Countries	61.00m	1,424.00m	Energy	11/06/2020
63	Banca March Rs Covid19 Response For Smes&midcaps	Spain	70.00m	392.00m	Smaller companies	11/06/2020
64	Hirschmann Auto Tech Solutions	Austria	65.00m	137.26m	RDI	11/06/2020
65	Zanini RDI & Investments	Spain	25.00m	87.70m	Smaller companies; RDI	10/06/2020
66	Worldsensing (egff)	Spain	10.00m	89.00m	Smaller companies	02/06/2020
67	Kinexon (egff)	Germany	15.00m	133.50m	Smaller companies	29/05/2020
68	Co-Investment Mirova Wind Poland	Poland	31.50m	174.80m	Energy	28/05/2020
69	Bbva Covid19 Support To Smes & Midcaps	Spain	87.14m	898.80m	Smaller companies	25/05/2020
70	Cluj-Salaj Regional Water	Romania	27.00m	34.00m	Environment and resource efficiency	15/05/2020
71	Antiviral Vaccine Rdi (covid-19)	Germany	100.00m	270.00m	RDI	15/05/2020
72	Chassis & Biw & Mechanisms RDI	France; Germany; Spain; Sweden	200.00m	383.90m	RDI	14/05/2020
73	Smart Innovation 2	Denmark; Germany; Spain	25.00m	51.20m	Digital; RDI	14/05/2020
74	Alba Leasing Loan For SME And Mid-Caps VI	Italy	50.00m	1,260.00m	Smaller companies	14/05/2020
75	Lords Lb 66 Mw Solar Pv Portfolio	Poland	18.09m	40.00m	Energy	04/05/2020
76	Vetri Speciali Beverage Packaging	Italy	21.00m	43.23m	Bioeconomy	04/05/2020
77	Sanifit (egff)	Spain	20.00m	178.00m	RDI	30/04/2020
78	Projet Citezen Bhns - Thionville	France	100.00m	211.06m	Transport	23/04/2020
79	Spanish Suburban And Regional Rolling Stock	Spain	470.00m	615.11m	Transport	23/04/2020
80	Meridiam Green Impact Growth Fund	France; EU Countries	70.00m	300.00m	Energy; Transport; Environment and resource efficiency; Smaller companies	23/04/2020
81	Italian Energy Efficiency Fund II	Italy; EU Countries	40.00m	359.10m	Energy; Transport; RDI	23/04/2020
82	Tilt Capital Fund I	EU Countries	40.00m	307.69m	Energy; Environment and resource efficiency; Smaller companies	23/04/2020
83	RDI Project	Germany	50.00m	100.00m	RDI	23/04/2020
84	LRH Water Infra Upgrade	Italy	50.00m	107.40m	Environment and resource efficiency	20/04/2020
85	SDF Tractors RDI	Germany; Italy	50.00m	103.40m	Bioeconomy	03/04/2020
86	Sustainable Securities Fund	Italy	30.00m	186.55m	Energy	16/03/2020
87	Sabadell Loan For Smes & Midcaps Climate Action	Spain	96.00m	576.00m	Smaller companies	16/03/2020
88	Mytilineos SA - Agios Nikolaos Power Plant	Greece	125.00m	318.30m	Energy	05/02/2020
89	Navvis	Germany	20.00m	165.20m	Digital; RDI	05/02/2020
90	Agricover Loan For SMEs II	Romania	7.50m	42.00m	Bioeconomy	05/02/2020
91	Szczecin Affordable Housing Investment Plan	Poland	19.79m	39.67m	Social infrastructure	13/01/2020
92	Windfarms Prinzendorf And Powi	Austria	40.95m	98.90m	Energy	27/12/2019
93	Robart Robotic Navigation Systems	Austria	9.00m	80.10m	Smaller companies	18/12/2019
94	Dairy Production Modernisation And Logistics	Poland	50.00m	108.30m	Bioeconomy	18/12/2019
95	Grupo Ruiz Clean Bus Fleet	Spain	27.50m	56.45m	Transport	18/12/2019
96	Resalta	Slovenia	12.00m	30.40m	Smaller companies	17/12/2019
97	Bolt	Estonia; Poland; Romania	50.00m	442.85m	Smaller companies	17/12/2019
98	Arteche Product Innovation And Testing	Spain	27.00m	54.30m	Energy; RDI	13/12/2019
99	Famoco	Belgium; France	20.00m	222.50m	RDI	13/12/2019
100	Eav Circumvesuviana Railway New Rolling Stock	Italy	67.79m	218.44m	Transport	13/12/2019
101	Solas Sustainable Energy Fund	EU Countries	30.00m	182.67m	Energy	12/12/2019
102	EU Malaria Fund Senior Participation	EU Countries	30.00m	114.29m	RDI	12/12/2019
103	Median Technologies	France	35.00m	311.50m	RDI	09/12/2019
104	Isotope Technologies	Germany	40.00m	356.00m	RDI	03/12/2019
105	Invivo Digital Agriculture Platform	France	37.50m	75.40m	Bioeconomy	03/12/2019
106	Depa Lng Bunkering Vessel	Greece	20.00m	30.69m	Transport	03/12/2019
107	Reseau Liain - Tres Haut Debit Ain	France	120.00m	269.00m	Digital	14/11/2019
108	EIB-CDC Platform - Clean Buses	France	100.00m	197.44m	Transport	14/11/2019
109	Portugal Solid Waste Investment Plan	Portugal	75.00m	183.00m	Environment and resource efficiency	14/11/2019
110	Gageo I Fund	France; EU Countries	30.00m	288.00m	Smaller companies	14/11/2019
111	Kcm Lead Zinc Capacity Expansion	Bulgaria	65.00m	130.00m	Environment and resource efficiency	14/11/2019
112	Pannonia Onshore Wind	Austria	71.60m	139.40m	Energy	14/11/2019
113	TTTech Autonomous Driving RDI	Austria; Spain	30.00m	85.55m	RDI	14/11/2019
114	IM2 Solar Developer Finance	Spain	25.90m	166.50m	Energy; Regional development	14/11/2019
115	Venture To Future Fund	Slovakia	10.00m	166.40m	Smaller companies	14/11/2019
116	COMMERZBANK Enhanced SME and Mid-Cap Support	Germany	99.75m	840.00m	Smaller companies; RDI	14/11/2019
117	Infragreen IV SLP	France; Italy; Poland; Spain; EU Countries	75.00m	1,154.00m	Energy	14/11/2019
118	Quaero European Infrastructure Fund II	France; Latvia; Lithuania; EU Countries	85.40m	1,115.80m	Energy; Transport; Environment and resource efficiency; RDI	14/11/2019
119	RDI Project	Germany	100.00m	211.00m	RDI	14/11/2019
120	Arec Occitanie (sfsb)	France	40.00m	62.40m	Energy	13/11/2019
121	Acsm-Agam Energy Efficiency & Climate Action	Italy	100.00m	236.60m	Energy; Transport; Environment and resource efficiency	13/11/2019
122	FreightHub	Germany	20.00m	172.00m	Smaller companies; RDI	30/10/2019
123	MolMed	Italy	15.00m	132.58m	RDI	22/10/2019
124	Biosimilars	Poland	30.00m	253.30m	RDI	21/10/2019
125	Grimaldi Fleet Environmental Retrofit	Italy	70.00m	151.17m	Transport	16/10/2019
126	Renfe Suburban Sustainable Transport Madrid	Spain	800.00m	2,411.00m	Transport	15/10/2019
127	In Li Logement Intermediaire	France	310.00m	310.20m	Social infrastructure	15/10/2019
128	Telecom Malta Broadband Evolution	Malta	28.00m	54.52m	Digital	15/10/2019
129	Ottobock Research Programme	Austria; Germany	100.00m	228.90m	RDI	15/10/2019
130	Digital Innovation Acceleration	Spain	110.00m	220.27m	Digital	15/10/2019
131	Venice Clean Urban Transport Fleet Renewal	Italy	60.00m	122.20m	Transport	15/10/2019
132	Elderly Affordable Assisted Living France	France	55.00m	337.35m	Environment and resource efficiency; Social infrastructure	15/10/2019
133	Wielkopolskie Onshore Wind	Poland	40.89m	150.62m	Energy	15/10/2019
134	QEV Technologies	Spain	17.00m	151.30m	RDI	01/10/2019
135	Kpec Bydgoszcz Heating Network Upgrade	Poland	22.77m	33.90m	Energy	25/09/2019
136	Azimo	Poland	20.00m	178.00m	Digital	11/09/2019
137	Bbva Enhanced Support To Smes And Midcaps	Spain	156.91m	700.00m	Smaller companies	10/09/2019
138	Autobahn A49 Fritzlar-Ohmtal Dreieck (PPP)	Germany	264.00m	456.59m	Transport	10/09/2019
139	Le Pomerania Wind Farm	Poland	60.77m	109.30m	Energy	10/09/2019
140	Affordable Housing In Sweden	Sweden	279.21m	483.00m	Environment and resource efficiency	10/09/2019
141	FMB Metro Rolling Stock	Spain	245.00m	397.85m	Transport	10/09/2019
142	Ingeteam Energy Solutions RDI	Spain	70.00m	143.10m	Energy; Transport; RDI	10/09/2019
143	Omnes Capenergie 4 Fund	Denmark; France; Germany; The Netherlands; EU Countries	75.00m	1,230.80m	Energy	10/09/2019
144	Vivawest Energy Efficient Buildings II	Germany	300.00m	541.50m	Energy	10/09/2019
145	French Seeds R&D	France	170.00m	427.70m	Bioeconomy	09/09/2019
146	De Cecco Food Production Expansion & Innovation	Italy	24.00m	80.52m	Bioeconomy	23/08/2019
147	Personalised Immunotherapies (egff)	Germany	50.00m	445.00m	RDI	17/07/2019
148	Sevilla Social Housing	Spain	40.00m	62.52m	Social infrastructure; Regional development	17/07/2019
149	EFL - Enhanced Support For SMEs & Midcaps	Poland	73.09m	457.00m	Smaller companies; RDI	16/07/2019
150	Santander Risk Sharing for Micro & Small Co	Spain	225.00m	1,120.00m	Smaller companies	16/07/2019
151	Sicoya	Germany	15.00m	36.41m	RDI	16/07/2019
152	Derichebourg Recyclage & Economie Circulaire	France	130.00m	270.00m	Environment and resource efficiency; Regional development	16/07/2019
153	Marcegaglia Innovation And Energy Efficiency	Italy	100.00m	241.60m	Energy; RDI	16/07/2019
154	Eiffel Essentiel Fund	France; EU Countries	80.00m	1,641.60m	Energy; RDI; Bioeconomy	16/07/2019
155	Cima	Sweden	14.00m	124.60m	RDI	02/07/2019
156	Winnow	Romania	7.50m	66.75m	Smaller companies	27/06/2019
157	Fazua	Germany	12.00m	104.04m	RDI	24/06/2019
158	SCB Poland Support For SMEs And Microenterprises	Poland	70.47m	393.00m	Smaller companies; RDI	13/06/2019
159	Mauna Kea Technologies	France	22.50m	200.25m	RDI	13/06/2019
160	Renfe Feve Rolling Stock Northern Spain	Spain	150.00m	198.80m	Transport	13/06/2019
161	Bonfiglioli Advanced Manufacturing Rdi	Germany; Italy; Slovakia	40.00m	88.10m	RDI	13/06/2019
162	Long Term Care Development Infrastructure	Spain	57.50m	118.60m	Energy; Social infrastructure	13/06/2019
163	Enea - Divertor Tokamak Test Facility	Italy	250.00m	531.00m	RDI	13/06/2019
164	Volan Public Transport Fleet Renewal	Hungary	47.47m	790.12m	Transport	13/06/2019
165	Carbery Group Investment Programme	Ireland	35.00m	69.21m	Bioeconomy	12/06/2019
166	Machine Vision	France	20.00m	178.00m	RDI	11/06/2019
167	Malaga Social And Affordable Housing I	Spain	37.00m	55.65m	Social infrastructure; Regional development	06/06/2019
168	Anaesthetic Drug Development	Germany	20.00m	178.00m	RDI	16/05/2019
169	Northvolt ETT - Large Scale Battery Plant	Sweden	298.71m	1,762.97m	Environment and resource efficiency; RDI	15/05/2019
170	Neuroscience R&D and Investment Programme	Spain	63.75m	222.00m	RDI	15/05/2019
171	Fonds Tourisme Occitanie	France	60.00m	241.60m	Social infrastructure	15/05/2019
172	Bankia Enhanced support for SMEs and Mid-Caps	Spain	180.00m	420.00m	Smaller companies	15/05/2019
173	Acast	Sweden	25.00m	222.50m	Digital	10/05/2019
174	Sidenor Specialty Steel Capex & Rdi	Spain	50.00m	124.20m	Smaller companies; RDI	08/05/2019
175	Animal Health R&D Spain	Spain	25.00m	82.30m	RDI	07/05/2019
176	Mobidiag	Finland	25.00m	222.50m	RDI	03/05/2019
177	Renal Treatment	France	20.00m	455.72m	RDI	26/04/2019
178	AMES Sintering Growth Investments	Hungary; Spain	20.00m	63.46m	Smaller companies; RDI	25/04/2019
179	Valencia Clean Urban Transport Fleet Renewal	Spain	39.00m	76.20m	Transport	24/04/2019
180	Bitmovin	Austria	20.00m	135.40m	Digital; Smaller companies	24/04/2019
181	Intrinsic ID	The Netherlands	11.00m	94.80m	Digital	12/04/2019
182	French Offshore Round 1 - Saint Nazaire & Fecamp	France	450.00m	3,744.00m	Energy	09/04/2019
183	Ceska SME and Mid-Cap Mezzanine ABS	Czech Republic	76.77m	616.00m	Smaller companies	09/04/2019
184	Alfasigma Innovative Drugs RDI	Italy	100.00m	250.77m	RDI	09/04/2019
185	Rotterdam Electric Buses Tram & Metro Infra	The Netherlands	3.30m	258.00m	Transport	27/03/2019
186	Cubic Telecom	Ireland	23.50m	209.15m	Digital; RDI	27/03/2019
187	Vivasure	Ireland	10.00m	89.00m	RDI	22/03/2019
188	A9 Amsterdam PPP	The Netherlands	349.44m	845.00m	Transport	14/03/2019
189	Banca March Enhanced Support for Mid-Caps	Spain	70.00m	196.00m	Smaller companies	14/03/2019
190	Skin Health RDI	Spain	120.00m	252.50m	RDI	14/03/2019
191	Lublin Heating Network Upgrade	Poland	12.03m	30.86m	Energy	08/03/2019
192	Ensinger Plastics Innovation And Growth	Germany	50.00m	104.70m	Smaller companies; RDI	07/03/2019
193	Software Group	Bulgaria	18.00m	104.20m	Smaller companies; RDI	07/03/2019
194	Bucharest Polytechnic University	Romania	25.00m	49.95m	Social infrastructure; RDI	05/02/2019
195	Ariane 6 European Space Launcher Program	France; Germany; Italy; EU Countries	100.00m	2,269.00m	RDI	05/02/2019
196	Taaleri Energia Solarwind Fund II	Bulgaria; Croatia; Finland; Greece; Hungary; Poland; Portugal; Spain; Sweden; EU Countries	60.00m	733.00m	Energy	05/02/2019
197	La Cabrera Talayuela Solar PV	Spain	111.66m	303.00m	Energy	05/02/2019
198	New Aromatics Technology Development	Spain	60.00m	123.00m	Environment and resource efficiency; RDI	05/02/2019
199	Algea	Austria	15.00m	133.50m	RDI	16/01/2019
200	Packaging Plant Capacity Expansion	Greece	12.00m	29.40m	Regional development; RDI	14/01/2019
201	Spliethoff Shipping Retrofit	The Netherlands	49.50m	50.84m	Transport	21/12/2018
202	Carmat - Artificial Heart	Czech Republic; Denmark; France	30.00m	267.00m	RDI	13/12/2018
203	Salzgitter Steel RDI	Germany	150.00m	328.00m	Digital; RDI	11/12/2018
204	EIB-CDC Co-Investment Platform Urban Development	France	100.00m	1,061.00m	Environment and resource efficiency	11/12/2018
205	Karavanke Tunnel Safety Upgrade	Slovenia	90.00m	180.00m	Transport	11/12/2018
206	FNAC Darty Retail Digital Transformation	France	100.00m	202.00m	Digital	11/12/2018
207	Réseau de Chaleur Grénoble Métropole	France	30.00m	58.80m	Energy	11/12/2018
208	Black Sea Gas Connection	Romania	150.00m	350.00m	Energy	11/12/2018
209	Riverrock Senior Loan Fund I	Belgium; Germany; Luxembourg; The Netherlands; EU Countries	100.00m	1,990.00m	Smaller companies	11/12/2018
210	Ulma RDI & Convergence	Poland; Spain	46.00m	65.13m	Regional development; RDI	11/12/2018
211	BBPM Enhanced SME and Mid-Cap Support	Italy	55.00m	385.00m	Smaller companies	11/12/2018
212	JSW Coke Production Facility	Poland	Not Disclosed	Not Disclosed		11/12/2018
213	ProDrive Technology Solutions RDI	The Netherlands	50.00m	144.70m	Smaller companies; RDI	28/11/2018
214	Allego BV (Transport Charging Infrastructure)	The Netherlands	40.00m	356.00m	Transport	23/11/2018
215	Sill Infant Milk And Rdi Investment	France	40.00m	104.90m	Bioeconomy	21/11/2018
216	SB Polska ABS - Enhanced Support for SMEs & Mid-caps	Poland	93.45m	654.00m	Energy; Transport; Environment and resource efficiency; Smaller companies; RDI	13/11/2018
217	Alior Mezzanine ABS For SMEs and Mid-Caps	Poland	54.39m	423.00m	Smaller companies	13/11/2018
218	Garanti Bank Romania Loan for SMEs and Mid-caps	Romania	22.30m	62.44m	Smaller companies	13/11/2018
219	Diakonessenhuis Hospital	The Netherlands	43.00m	106.12m	Social infrastructure; RDI	13/11/2018
220	Crédit Mutuel Alliance Fédérale Co-Financing	France	150.00m	420.00m	Smaller companies; RDI	13/11/2018
221	Aena Energy Efficiency Investment Plan	Spain	90.00m	100.84m	Energy	13/11/2018
222	Reseau Canopee Logement Social	France	107.00m	275.00m	Social infrastructure	13/11/2018
223	Leonardo R&D	Italy	500.00m	631.90m	Digital; Regional development; RDI	13/11/2018
224	Cajamar Abs Enhanced Support Rural Smes And Midc	Spain	64.30m	1,050.00m	Smaller companies	13/11/2018
225	Alba Leasing Loan for SMEs and Mid-caps V	Italy	75.00m	770.00m	Smaller companies	13/11/2018
226	ASA Livorno Water Infra Upgrades	Italy	22.00m	114.54m	Environment and resource efficiency	08/11/2018
227	Rimac	Croatia	30.00m	67.17m	RDI	31/10/2018
228	Nuritas	Ireland	30.00m	264.00m	RDI	29/10/2018
229	Hansamatrix	Latvia	10.00m	87.90m	Smaller companies; RDI	26/10/2018
230	Food Production Modernisation	Bulgaria; Poland; Romania	47.00m	94.07m	Bioeconomy	19/10/2018
231	Sodiaal RDI in Dairy Activities	France	40.00m	80.00m	Bioeconomy	11/10/2018
232	Bordeaux Metropole Energies	France	37.50m	50.00m	Energy	10/10/2018
233	Budapest Airport Concession	Hungary	200.00m	449.31m	Transport	09/10/2018
234	Energy And Environmental Sustainability Project	Portugal	55.00m	110.00m	Energy; Transport; Environment and resource efficiency	09/10/2018
235	ICO Mid-cap Investment Platform	Spain	200.00m	1,120.00m	Smaller companies	09/10/2018
236	Abbanoa Water Investments	Italy	200.00m	651.00m	Environment and resource efficiency	09/10/2018
237	Sbci Business Support Investment Platform	Ireland	39.40m	1,120.00m	Smaller companies	09/10/2018
238	Noordwest Hospital	The Netherlands	120.00m	257.10m	Social infrastructure; RDI	09/10/2018
239	Illiad France Trés Haut Debit Expansion	France	300.00m	Not Disclosed	Digital	09/10/2018
240	BNL Enhanced SME and Mid-cap Support	Italy	100.00m	700.00m	Smaller companies	09/10/2018
241	Acque Veronesi Water Infra Upgrade	Italy	30.00m	106.00m	Environment and resource efficiency	04/10/2018
242	Sigfox	France; Germany; Spain	40.00m	356.00m	Digital; Smaller companies; RDI	02/10/2018
243	Motork	Italy	15.00m	267.00m	RDI	02/10/2018
244	Orbital	Sweden	15.00m	133.50m	Smaller companies	27/09/2018
245	Gironde Haut Mega	France	60.00m	393.50m	Digital	18/09/2018
246	Lanuza Wind Project	Spain	44.20m	581.38m	Energy	18/09/2018
247	Be-Spoke SME Securitisation Spain	Spain	61.00m	341.60m	Smaller companies	18/09/2018
248	Spar&bau Energy Efficient Housing	Germany	35.00m	79.11m	Energy	18/09/2018
249	Piaggio Rdi Vehicle Improvements	Italy	100.00m	151.40m	RDI	18/09/2018
250	Eramet R&d And Digitalisation Investments	France	120.00m	275.50m	Digital; RDI	18/09/2018
251	SPCM New Facility	France	180.00m	333.60m	Regional development; RDI	18/09/2018
252	Medtech Research And Development	Germany	150.00m	393.00m	RDI	18/09/2018
253	AMS Semiconductor Solutions	Austria; Belgium; Germany; EU Countries	Not Disclosed	Not Disclosed		18/09/2018
254	Advanced Automotive Fabrics Project Portugal	Portugal	Not Disclosed	Not Disclosed		29/08/2018
255	Alba Regional Water	Romania	6.84m	14.00m	Environment and resource efficiency	28/08/2018
256	Cikautxo Mid-cap Growth Investments	Czech Republic; Romania; Slovakia; Spain	20.00m	59.95m	Smaller companies; RDI	08/08/2018
257	Newron	Italy	40.00m	356.00m	RDI	31/07/2018
258	Aimotive	Hungary	20.00m	178.00m	RDI	31/07/2018
259	Energy Project	Italy	Not Disclosed	Not Disclosed		30/07/2018
260	Agria Grain Port Terminal	Bulgaria	14.00m	25.62m	Transport; Smaller companies	20/07/2018
261	Nanobiotix	France	40.00m	356.00m	RDI	20/07/2018
262	Jennewein	Germany	15.00m	133.50m	Social infrastructure	19/07/2018
263	Open Fiber Ultra-Broadband Development Plan	Italy	350.00m	3,346.50m	Digital	17/07/2018
264	SEE Lending Platform	EU Countries	50.00m	394.00m	Digital; Smaller companies	17/07/2018
265	Vaekstfonden Equity Co-Investment Platform	Denmark	74.96m	1,080.00m	Smaller companies; RDI	17/07/2018
266	Pko Leasing Abs Loan For Micro-Smes	Poland	146.08m	1,841.00m	Smaller companies	17/07/2018
267	Funding Circle P2P Facility	Germany; The Netherlands	62.95m	220.30m	Smaller companies	17/07/2018
268	Venice Airport Development Plan	Italy	150.00m	460.70m	Transport	17/07/2018
269	CaixaBank SME Mezzanine ABS	Spain	100.00m	336.00m	Smaller companies	17/07/2018
270	PCC Rokita Chemical Upgrade Programme	Poland	67.50m	96.45m	Regional development; RDI	17/07/2018
271	GVM - Medical Care	France; Italy	70.00m	142.20m	Social infrastructure; RDI	17/07/2018
272	Pearl Environmental Infrastructure Fund	France; EU Countries	40.00m	798.00m	Energy; Environment and resource efficiency	17/07/2018
273	Pori Energia Biomass Power Plant	Finland	30.00m	61.40m	Energy	17/07/2018
274	Oulun Energia CHP Plant	Finland	100.00m	196.50m	Energy	17/07/2018
275	Fiera Milano Exhibition Centre	Italy	40.00m	91.18m	Energy; Environment and resource efficiency	17/07/2018
276	Talasol Solar PV Plant	Spain	70.00m	213.70m	Energy	17/07/2018
277	Aeroport de la Guadeloupe	France	60.00m	98.10m	Transport	17/07/2018
278	Seamade NV-Mermaid & Seastar Offshore Wind Farms	Belgium	262.47m	1,316.12m	Energy	17/07/2018
279	Healthcare Cooperation Group Bahia	France	35.00m	82.70m	Social infrastructure	17/07/2018
280	M-Files	Finland	27.00m	240.30m	RDI	17/07/2018
281	Tikehau Direct Lending	Belgium; Denmark; France; Germany; Italy; Luxembourg; The Netherlands; Spain; United Kingdom; EU Countries	75.00m	720.00m	Smaller companies	17/07/2018
282	Eurofideme 4 Fund	Bulgaria; France; Poland; Portugal; Spain; Sweden; EU Countries	75.00m	1,026.00m	Energy; Transport	17/07/2018
283	CIE Automotive RDI & Convergence	Czech Republic; France; Lithuania; Portugal; Romania; Slovakia; Spain	120.00m	160.50m	Regional development; RDI	17/07/2018
284	Sustainability Retail Development	Spain	70.00m	130.57m	Environment and resource efficiency	17/07/2018
285	Walbrzych Urban Revitalization	Poland	27.90m	56.40m	Environment and resource efficiency	17/07/2018
286	MID Europa CEE Frowth Fund V	Croatia; Czech Republic; Poland; Romania; Slovakia; EU Countries	60.00m	1,094.40m	Smaller companies	17/07/2018
287	Budapest District Heating Strategic Investments	Hungary	10.39m	95.30m	Energy	17/07/2018
288	Netz Elbe Spree Rolling Stock	Germany	169.40m	1,300.00m	Transport	17/07/2018
289	Santander Risk Sharing Loan for SMEs and Mid-Caps	Spain	250.00m	700.00m	Smaller companies	17/07/2018
290	Renewable Energy Risk Sharing France II	France	240.00m	1,710.00m	Energy	17/07/2018
291	Nokia 5G	Finland; France; Germany; Poland; EU Countries	500.00m	1,774.70m	Digital; RDI	17/07/2018
292	VIPA Energy Efficiency Investment Platform SFSB	Lithuania	12.50m	274.00m	Energy	17/07/2018
293	KTM Motorcycle RDI	Austria	170.00m	334.40m	RDI	17/07/2018
294	SGI - Gas Network Development	Italy	90.00m	187.70m	Energy; Smaller companies	17/07/2018
295	Getinge Medical Technology RDI	Denmark; France; Germany; Sweden	180.00m	416.70m	RDI	17/07/2018
296	Tauron Hybrid Bond Network Capex	Poland	174.39m	399.27m	Energy	17/07/2018
297	Devialet	France	20.00m	311.50m	Smaller companies	13/07/2018
298	Devenish Nutrition	Ireland; United Kingdom	40.00m	356.00m	Smaller companies	10/07/2018
299	Nightingale	Finland	20.00m	178.00m	RDI	05/07/2018
300	IRDI Soridec Co-Investissements	France	24.00m	312.00m	Smaller companies	22/06/2018
301	Grand Nancy Thermal Co-Investment	France	11.10m	43.50m	Energy; Environment and resource efficiency	18/06/2018
302	Opole Heating and Energy Efficency Upgrade	Poland	28.06m	48.27m	Energy	13/06/2018
303	Erste Mezzanine ABS for SMEs and Mid-caps	Austria; EU Countries	45.02m	392.00m	Smaller companies	12/06/2018
304	Ilunion Social Company Investments	Spain	35.00m	76.50m	Energy; Social infrastructure; RDI	12/06/2018
305	Energy Project	Sweden	239.89m	479.27m	Energy	12/06/2018
306	Zumtobel Lighting RDI	Austria; France; Germany; United Kingdom	80.00m	156.30m	RDI	12/06/2018
307	Northwester 2	Belgium	110.00m	578.92m	Energy	12/06/2018
308	Creval Loan for SMEs & Mid-caps	Italy	85.21m	840.00m	Smaller companies	12/06/2018
309	Budapest Bank Enhanced Support for SMEs&Mid-caps	Hungary	Not Disclosed	Not Disclosed		12/06/2018
310	Gaia Water Infrastructure Upgrade	Italy	30.00m	64.70m	Environment and resource efficiency	04/06/2018
311	Velatia RDI & Investments	Germany; Spain	32.50m	87.60m	Smaller companies; RDI	01/06/2018
312	Navya	France	30.00m	267.00m	RDI	30/05/2018
313	Irish Continental Group Ferry Project II	Ireland	80.00m	168.50m	Transport	28/05/2018
314	KEM One Innovation and Resource Investments	France	50.00m	100.00m	Smaller companies; RDI	25/05/2018
315	Tado	Germany	20.00m	178.00m	Smaller companies; RDI	22/05/2018
316	Batteries Plan Capacity Expansion	Greece	12.50m	26.20m	Regional development; RDI	15/05/2018
317	Power Transmission Modernisation And Extension	Hungary	100.00m	220.00m	Energy	15/05/2018
318	Poznan Medical University	Poland	26.79m	40.21m	Social infrastructure; Regional development; RDI	15/05/2018
319	Antolin Car Interiors RDI	France; Germany; Spain	140.00m	217.17m	RDI	15/05/2018
320	Bavarian Nordic Fill & Finish Production Site	Denmark	30.00m	97.60m	RDI	07/05/2018
321	Boels Construction Equipment	Belgium; The Netherlands	Not Disclosed	Not Disclosed		07/05/2018
322	Groupe Roullier RDI Programme Financing	France; Italy; Spain	50.00m	104.80m	Bioeconomy	26/04/2018
323	Normandie Horizon	France	20.00m	93.25m	Smaller companies	24/04/2018
324	Foresight Low Carbon Energy Infrastructure Fund	Spain; Sweden; EU Countries	75.00m	1,357.00m	Energy	12/04/2018
325	NBG Covered Bonds Loan for SMEs and Mid-caps	Greece	200.00m	560.00m	Smaller companies; Regional development	12/04/2018
326	Isala Hospital	The Netherlands	150.00m	306.78m	Social infrastructure	12/04/2018
327	Bankia Vocational Training Youth Employment MBIL	Spain	25.00m	70.00m	Smaller companies	12/04/2018
328	Fives RDI	France	80.00m	187.70m	Regional development; RDI	12/04/2018
329	Curtis Biomass Power Generation Plant	Spain	50.00m	122.10m	Energy	12/04/2018
330	Insead Renovation Campus Europe	France	40.00m	68.09m	Social infrastructure; RDI	15/03/2018
331	Portuguese Ports Private Investment Plan 2017-19	Portugal	40.00m	92.84m	Transport	15/03/2018
332	Vivawest Energy Efficient Buildings	Germany	100.00m	172.12m	Energy	15/03/2018
333	Vermio Wind Projects	Greece	23.70m	59.96m	Energy	15/03/2018
334	NTR Renewable Energy Income Fund II	France; Ireland; Italy; Sweden; United Kingdom; EU Countries	61.25m	740.00m	Energy	15/03/2018
335	BBVA Enhanced SME & Mid-cap Support	Spain	139.10m	1,260.00m	Smaller companies	15/03/2018
336	Ericsson 5G	Ireland; Spain; Sweden; EU Countries	500.00m	1,450.90m	Digital; RDI	15/03/2018
337	Arcus European Infrastructure Fund 2	Luxembourg; The Netherlands; United Kingdom; EU Countries	90.40m	2,469.59m	Digital; Energy; Transport	15/03/2018
338	Medincell- Drug Delivering System	France	20.00m	178.00m	RDI	27/02/2018
339	Trans Adriatic Pipeline	Greece; Italy	700.00m	3,185.00m	Energy	06/02/2018
340	Windpark Bruckneudorf-Hoeflein West	Austria	17.00m	26.90m	Energy	06/02/2018
341	Groupe Sifcor Industrial Innovative Instruments	France	15.00m	80.90m	Smaller companies; RDI	10/01/2018
342	Poznan Social Housing Investment Facility	Poland	42.34m	67.63m	Social infrastructure	20/12/2017
343	Newlisi	Italy	15.00m	133.50m	Smaller companies; RDI	19/12/2017
344	Indivumed Global Cancer Database	Germany	40.00m	356.00m	RDI	15/12/2017
345	Nexus Technology	Sweden	10.00m	258.10m	RDI	14/12/2017
346	Nord - Pas de Calais THD	France	181.43m	435.20m	Digital	12/12/2017
347	BPIFrance Mid-cap Investment Platform	France	250.00m	700.00m	Smaller companies	12/12/2017
348	Autohellas Leasing ABS Loans for SMEs and Mid-Caps	Greece	57.30m	168.00m	Smaller companies	12/12/2017
349	FNM New Regional Rolling Stock	Italy	50.00m	98.90m	Transport	12/12/2017
350	Roland Garros Airport - Réunion	France	100.00m	140.20m	Transport	12/12/2017
351	Siah Water Treatment and Supply Management	France	76.00m	152.30m	Environment and resource efficiency	12/12/2017
352	Crédit Agricole Enhanced SME and Mid-cap Support	France	138.00m	Not Disclosed	Smaller companies	12/12/2017
353	Inven Capital	Czech Republic; France; Germany; Sweden; EU Countries	50.00m	456.00m	Energy; Smaller companies; RDI	12/12/2017
354	Acciona Energy and Water and Construction Innovation	Spain	140.00m	182.70m	RDI	12/12/2017
355	LED Lamps RDI	Germany	Not Disclosed	Not Disclosed		12/12/2017
356	Clavister	Sweden	20.00m	178.00m	RDI	08/12/2017
357	Axiare Energy Efficient Refurbishment	Spain	Not Disclosed	Not Disclosed		07/12/2017
358	Amap Water Investments	Italy	20.00m	45.12m	Environment and resource efficiency	04/12/2017
359	Batz Automotive Mid-cap Growth Investments	Spain	25.00m	54.26m	Smaller companies; RDI	28/11/2017
360	Agile Content	Spain	Not Disclosed	Not Disclosed		27/11/2017
361	Censhare	Germany	25.00m	222.50m	RDI	22/11/2017
362	Rolling Stock RDI & Other Expansion Investments	Spain	30.00m	60.10m	Smaller companies; RDI	15/11/2017
363	Latecoere Aerostructure RDI	France	55.00m	96.90m	RDI	14/11/2017
364	Kodap Strategic Oil reserves Storage	Cyprus	35.00m	52.80m	Energy	14/11/2017
365	Hypo Vorarlberg Mezzanine ABS for EE & NZEB	Austria	68.17m	Not Disclosed	Energy	14/11/2017
366	Goya Wind Project	Spain	31.15m	286.02m	Energy	14/11/2017
367	SCM Group Woodworking Machinery RDI	Italy	50.00m	83.80m	RDI	14/11/2017
368	Kemira Speciality Chemicals	Finland	40.00m	91.60m	RDI	14/11/2017
369	White Goods Factory Romania	Romania	68.00m	134.40m	RDI	14/11/2017
370	Water Supply Oasen	The Netherlands	57.00m	173.20m	Environment and resource efficiency	14/11/2017
371	Oweninny Onshore Wind Farm Phase 1	Ireland	79.50m	176.30m	Energy	14/11/2017
372	Mobile Broadband Infrastructure Densification	Italy; Spain	100.00m	200.90m	Digital	14/11/2017
373	Smart Battery Systems	France	20.00m	178.00m	Smaller companies; RDI	14/11/2017
374	Advanced Drugs Manufacturing	Italy	Not Disclosed	Not Disclosed		08/11/2017
375	Voxeljet	Germany	25.00m	Not Disclosed	Smaller companies	03/11/2017
376	3D Printing Technology	Belgium	35.00m	91.41m	RDI	03/11/2017
377	Viking Heat Engines	Germany	6.00m	267.00m	Smaller companies	27/10/2017
378	AMW	Germany	25.00m	222.50m	RDI	27/10/2017
379	Biovet Peshtera	Bulgaria	125.00m	212.40m	RDI	18/10/2017
380	PKP LHS Railway Improvement Project	Poland	28.62m	76.93m	Transport	18/10/2017
381	Warsaw Medical Simulations Centre	Poland	23.65m	38.87m	Social infrastructure	18/10/2017
382	HKM Steel Manufacturing Modernisation	Germany	60.00m	120.00m	Environment and resource efficiency	18/10/2017
383	Haldor Topsoe Catalysts RDI	Denmark	75.23m	150.67m	RDI	18/10/2017
384	Vallourec RDI Investments and Digitalization	France; Germany	Not Disclosed	Not Disclosed		18/10/2017
385	Cramo Construction Equipment	Czech Republic; Denmark; Estonia; Finland; Latvia; Lithuania; Poland; Slovakia; Sweden	50.00m	100.00m	Smaller companies	06/10/2017
386	Brianzacque Water Investments	Italy	50.00m	126.24m	Environment and resource efficiency	05/10/2017
387	Vienna School PPP Campus Berregasse	Austria	21.96m	45.12m	Social infrastructure	03/10/2017
388	Saviola Sustainable Furniture	Italy	50.00m	100.00m	Smaller companies; RDI	20/09/2017
389	EGEA Networks	Italy	40.00m	101.80m	Energy; Environment and resource efficiency	19/09/2017
390	Rabobank SME and Mid-cap support	The Netherlands	128.00m	1,075.00m	Smaller companies	19/09/2017
391	Powertrain Development and Test Systems RDI	Austria	120.00m	218.30m	RDI	19/09/2017
392	Netherlands Flood Defense PPP	The Netherlands	325.93m	787.71m	Transport; Environment and resource efficiency	19/09/2017
393	Elite Basket Bond 1	Italy	61.00m	340.30m	Smaller companies	19/09/2017
394	Fonds Infragreen III	Belgium; Croatia; Denmark; France; Germany; Greece; Hungary; Italy; Luxembourg; Poland; Portugal; Spain; United Kingdom	50.00m	1,026.00m	Energy	19/09/2017
395	Amundi Energy Transition Alba I	Belgium; France; United Kingdom; EU Countries	43.10m	803.30m	Energy	19/09/2017
396	Soregies Energy Networks & Renewable Generation	France	70.00m	240.00m	Energy	19/09/2017
397	Alba Leasing Loan for SMEs and Mid-caps IV	Italy	75.00m	910.00m	Smaller companies	19/09/2017
398	Metro de Madrid Infrastructure Upgrade	Spain	200.00m	396.10m	Transport	19/09/2017
399	Brownfields 3	Belgium; France; Luxembourg; Poland; Spain	40.00m	367.30m	Energy; Environment and resource efficiency	19/09/2017
400	Simonsfeld Onshore Wind	Austria	35.00m	61.90m	Energy	19/09/2017
401	AQP-Water Sector Upgrade Southern Italy	Italy	200.00m	272.32m	Environment and resource efficiency	19/09/2017
402	DIF Core Infrastructure Fund I	Austria; Belgium; Finland; France; Germany; Ireland; The Netherlands; Spain	59.50m	371.11m	Digital; Energy; Transport	19/09/2017
403	BGZ BNP Poland ABS Enhanced Loan for Mid-caps	Poland	81.00m	Not Disclosed	Smaller companies	19/09/2017
404	Piraeus Covered Bonds Loan for SMEs and Mid-caps	Greece	350.00m	Not Disclosed	Smaller companies	19/09/2017
405	BNP Paribas Enhanced SME and Mid-cap support	France	105.40m	Not Disclosed	Smaller companies	19/09/2017
406	Finpiemonte SMEs & Mid-Caps & other Priorities	Italy	Not Disclosed	Not Disclosed		19/09/2017
407	Food Industry Capacity Expansion	Bulgaria	31.00m	62.00m	Smaller companies	15/09/2017
408	EGYM	Germany	25.00m	222.50m	RDI	07/09/2017
409	Ramirent Construction Equipment	Czech Republic; Denmark; Estonia; Finland; Latvia; Lithuania; Poland; Slovakia; Sweden	50.00m	100.00m	Smaller companies	07/09/2017
410	Science4You	Portugal	10.00m	89.00m	Smaller companies	04/09/2017
411	Incarlopsa Agro Food Investments	Spain	35.00m	72.00m	Smaller companies	17/08/2017
412	CM	The Netherlands	5.00m	89.00m	Digital	01/08/2017
413	Sunpartner Technologies	France	7.00m	Not Disclosed	Energy; Smaller companies; RDI	01/08/2017
414	Olmix	France	20.00m	267.00m	RDI	21/07/2017
415	Aerogen Investment Programme	Ireland	30.00m	63.17m	RDI	21/07/2017
416	Medneo	Germany	30.00m	267.00m	Social infrastructure	21/07/2017
417	Romania Recycling and Circular Ecnomy Project	Romania	7.50m	20.20m	Environment and resource efficiency; Smaller companies	19/07/2017
418	Flexenclosure	Sweden	7.50m	89.00m	RDI	19/07/2017
419	Renewable Energy Risk Sharing	France	300.00m	1,425.00m	Energy	18/07/2017
420	Artee Nouvelle Aquitaine	France	43.00m	57.00m	Energy	18/07/2017
421	Portugal Water Supply & Sanitation	Portugal	420.00m	726.50m	Environment and resource efficiency	18/07/2017
422	Alperia Hydropower	Italy	80.00m	157.10m	Energy	18/07/2017
423	SUMA Capital Energy Efficieny	Portugal; Spain; EU Countries	20.00m	199.50m	Energy; Environment and resource efficiency	18/07/2017
424	ENGIE France Reseaux	France	246.62m	361.70m	Energy	18/07/2017
425	AMPHIA Hospital	The Netherlands	100.00m	378.07m	Social infrastructure; RDI	18/07/2017
426	Magforce	Germany	35.00m	311.50m	RDI	18/07/2017
427	Drug Discovery RDI	France; Germany	75.00m	156.50m	RDI	18/07/2017
428	FII Co-Investment Platform	Finland	50.00m	912.00m	Smaller companies; RDI	18/07/2017
429	TELCO	France	10.00m	52.27m	Digital	18/07/2017
430	Autobahn A3 Biebelried - Furth Erlangen	Germany	399.99m	1,150.30m	Transport	18/07/2017
431	Five Degrees	The Netherlands	7.50m	66.75m	Smaller companies	18/07/2017
432	DARS - Free Flow Tolling System	Slovenia	51.00m	102.20m	Transport	18/07/2017
433	Glennmont Clean Energy Fund Europe III	Finland; France; Germany; Italy; The Netherlands; Portugal; Spain; EU Countries	100.00m	1,592.00m	Energy; Environment and resource efficiency	18/07/2017
434	Tram de Liège	Belgium	193.37m	527.60m	Transport	18/07/2017
435	Predirec Energy ENR 2030	France; EU Countries	42.18m	372.00m	Energy	18/07/2017
436	French Animal Health R&D Investments	France	76.96m	226.70m	RDI	18/07/2017
437	Enterome	France	40.00m	356.00m	RDI	18/07/2017
438	Coparion Equity Fund	Germany	50.00m	820.25m	Smaller companies	18/07/2017
439	UNICREDIT Employment & Start-ups Programme	Romania	50.00m	84.85m	Smaller companies; RDI	18/07/2017
440	Italia Venture I Fund	Italy	20.04m	333.90m	Smaller companies	18/07/2017
441	Spain Gas Network Expansion II	Spain	125.00m	257.00m	Energy	18/07/2017
442	Amoeba	France	5.00m	178.00m	Smaller companies	14/07/2017
443	iZettle R&D	Sweden	10.00m	267.00m	RDI	11/07/2017
444	Co-Investment Telecom France	France	25.00m	Not Disclosed	Digital	10/07/2017
445	Rovi Pharma Technology RDI	Spain	45.00m	94.00m	RDI	05/07/2017
446	Cellnovo	France	Not Disclosed	Not Disclosed		03/07/2017
447	Security and Communication R&D	France	20.00m	41.57m	RDI	23/06/2017
448	Telecom Greece	Greece	150.00m	Not Disclosed	Digital	15/06/2017
449	Limburgs Energie Fonds	The Netherlands	30.00m	321.00m	Energy; Transport; Environment and resource efficiency	15/06/2017
450	Irish Social Housing PPP	Ireland	61.30m	300.00m	Social infrastructure	15/06/2017
451	EL to Zagreb - Combined Cycle Power Plant	Croatia	43.00m	187.27m	Energy	15/06/2017
452	IT Platform Development	Czech Republic; Finland; Sweden	85.00m	186.40m	RDI	15/06/2017
453	STM Italy-France-Malta	France; Italy; Malta	500.00m	Not Disclosed	RDI	15/06/2017
454	KfW Mid-cap Investment Platform	Germany	75.00m	Not Disclosed	Environment and resource efficiency; RDI	15/06/2017
455	EIB-EIF SME Funds Investment Facility	Belgium; Cyprus; Denmark; Finland; France; Germany; Greece; Ireland; Italy; Latvia; Lithuania; Luxembourg; The Netherlands; Poland; Portugal; Romania; Spain; Sweden; United Kingdom	487.39m	8,368.00m	Smaller companies	15/06/2017
456	EIB-EIF MIDCAP Funds Investment Facility	Croatia; France; Italy; The Netherlands; Romania; Spain; EU Countries	248.90m	3,542.00m	Smaller companies; RDI	15/06/2017
457	EIB-EIF CO-Iinvestment Facility	France; Germany; Greece; The Netherlands; Poland; Spain; EU Countries	145.40m	2,200.00m	Smaller companies; RDI	15/06/2017
458	Parental Solutions Industrial Project Portugal	Portugal	20.00m	42.20m	Smaller companies; RDI	14/06/2017
459	NGA Network Upgrade Programme	Poland	Not Disclosed	Not Disclosed		12/06/2017
460	Maier Automotive Mid-cap Growth Investments	Czech Republic; Italy; Spain	35.00m	72.50m	Smaller companies; RDI	09/06/2017
461	Nosto Solutions	Finland	15.00m	133.50m	RDI	06/06/2017
462	Irish Continental Group Ferry Project	Ireland	75.00m	154.81m	Transport	01/06/2017
463	SJI CAPEX & R&D Investments	Croatia; France; Germany; Spain	25.70m	76.50m	Smaller companies; RDI	24/05/2017
464	Optical Lighting Systems for Automotive	Italy; Poland	35.00m	71.90m	RDI	19/05/2017
465	Italy-France Interconnector	Italy	167.60m	681.40m	Energy	16/05/2017
466	France Efficacite Energetique Logement Social	France	122.85m	2,500.00m	Energy; Social infrastructure	16/05/2017
467	Adestia - Efficacite Energetique Logement Social	France	200.00m	330.00m	Energy	16/05/2017
468	Cityjet Regional Rolling Stock	Austria	350.00m	1,660.80m	Transport	16/05/2017
469	Barcelona Social Housing	Spain	125.00m	228.00m	Energy; Social infrastructure	16/05/2017
470	Natural Gas Distribution Portugal 2016-2019	Portugal	29.00m	54.60m	Energy	16/05/2017
471	Sener Renewable Energy and ICT RDI	Spain	50.00m	200.60m	RDI	16/05/2017
472	IP-Only Fibre Network	Sweden	125.42m	973.99m	Digital	16/05/2017
473	AENA Secutiry Investment Plan	Spain	510.00m	824.10m	Transport	16/05/2017
474	Bank Ochrony Srodowiska Climate Action MBIL	Poland	75.00m	210.00m	Energy; Environment and resource efficiency; Smaller companies	16/05/2017
475	OP Bank Enhanced Support for Mid-caps	Finland	100.00m	420.00m	Smaller companies	16/05/2017
476	Grifols Bioscience R&D II Spain	Spain	170.00m	502.00m	RDI	16/05/2017
477	New Furniture Production Plant	Poland	15.92m	30.70m	Smaller companies	15/05/2017
478	Electro Power Systems	Italy	10.00m	267.00m	RDI	07/04/2017
479	Fassa Bortolo Group	Italy	40.00m	71.50m	RDI	07/04/2017
480	Vidrala Advanced Glass Manufacturing	Italy	45.00m	91.93m	RDI	04/04/2017
481	Livanova R&D	France; Italy	90.00m	232.40m	RDI	04/04/2017
482	Public to Private Supply Chain Finance (Spain)	Spain	150.00m	2,520.00m	Smaller companies	04/04/2017
483	University of Latvia Research and Study Centre	Latvia	30.00m	39.77m	Social infrastructure; RDI	04/04/2017
484	Private Medical Network Expansion in Romania	Romania	Not Disclosed	Not Disclosed		04/04/2017
485	Biofrontera	Germany	20.00m	178.00m	RDI	03/04/2017
486	Santander Facility for Climate Action	Spain	200.00m	400.00m	Energy	17/03/2017
487	Inriver	Sweden	8.00m	71.20m	RDI	17/03/2017
488	Mermec Group	Italy	30.00m	67.85m	RDI	10/03/2017
489	Energa Hybrid Bond	Poland	250.00m	753.28m	Energy	09/03/2017
490	Navarra NZEB Social Housing	Spain	39.75m	63.70m	Energy	09/03/2017
491	Vonovia Energy Efficient Buildings	Germany	300.00m	1,528.00m	Energy	09/03/2017
492	Marguerite Fund II	France; Italy; Portugal; Spain; Sweden	200.00m	3,491.25m	Digital; Energy; Transport; Environment and resource efficiency	09/03/2017
493	Adient Automotive RDI	France; Germany; Slovakia	165.00m	401.00m	RDI	09/03/2017
494	UK Energy Efficiency Investments Fund II	EU Countries; United Kingdom	Not Disclosed	Not Disclosed		09/03/2017
495	Apeiron	Austria	Not Disclosed	Not Disclosed		17/02/2017
496	Mariadb	Finland; Germany	25.00m	222.50m	RDI	03/02/2017
497	ESPOO Lifecycle PPP Schools	Finland	60.00m	159.66m	Social infrastructure	31/01/2017
498	VALECO - Renewable Energy Projects Portfolio	France	90.00m	243.40m	Energy	31/01/2017
499	Treviso Hospital PPP Project	Italy	28.71m	232.84m	Social infrastructure	31/01/2017
500	Broadband Wireless Access	Italy	15.00m	274.00m	Digital	31/01/2017
501	Palma de Mallorca Urban Bus Fleet Renewal	Spain	30.00m	60.00m	Transport	31/01/2017
502	Digital Television Transition	Romania	8.45m	19.55m	Digital	31/01/2017
503	Infranode	Denmark; Finland; Sweden; EU Countries	95.36m	840.00m	Digital; Energy; Transport; Environment and resource efficiency; RDI	31/01/2017
504	Istrian Riviera Development	Croatia	16.00m	129.79m	Social infrastructure	31/01/2017
505	BalTCAP Infrustructure Fund	Estonia; Latvia; Lithuania; Poland; EU Countries	20.00m	352.70m	Energy; Transport; Social infrastructure	31/01/2017
506	BlankenburgTunnel PPP Project	The Netherlands	327.57m	883.36m	Transport	31/01/2017
507	North Pole Onshore Wind Farm	Sweden	100.00m	714.90m	Energy	31/01/2017
508	Skeleton	Estonia; Germany	15.00m	133.50m	RDI	18/01/2017
509	Transgaz Brua Gas Interconnection Project	Romania	100.00m	281.00m	Energy	13/12/2016
510	Elenia Distribution Network Investments	Finland	150.00m	333.10m	Energy; Environment and resource efficiency	13/12/2016
511	SMT Artois Gohelle - Projet BHNS Bulles	France	105.00m	197.00m	Transport	13/12/2016
512	Krakow By-Pass - Lagiewnicka Route	Poland	90.00m	195.89m	Transport	13/12/2016
513	Cilsa Warehousing Expansion	Spain	75.00m	208.08m	Transport	13/12/2016
514	Ellevio Distribution Network Investments	Sweden	250.00m	776.00m	Energy	13/12/2016
515	Nordlink HVDC Project	Germany	102.37m	984.80m	Energy	13/12/2016
516	Food Industry Resource Efficiency and Innovation	Austria	41.50m	58.10m	Energy; Environment and resource efficiency; RDI	13/12/2016
517	Draegerwerk Medical Technology RDI	Germany	110.00m	266.00m	RDI	13/12/2016
518	Volvo Cars Innovative Technologies RDI	Sweden	345.00m	497.00m	RDI	13/12/2016
519	Construction Energy Efficiency Plus Fund	France	30.00m	432.00m	Energy	13/12/2016
520	Las Palmas Bus Rapid Transit	Spain	50.00m	120.20m	Transport	13/12/2016
521	Nearly-Zero-Energy Buldings	Sweden	75.00m	124.00m	Energy	13/12/2016
522	2I Rete Gas Distribution Network	Italy	225.00m	457.60m	Energy; Smaller companies	13/12/2016
523	Valio RDI	Finland	30.00m	67.80m	RDI	13/12/2016
524	KOS - Advanced Medical Equipment	Italy	20.00m	45.90m	Social infrastructure	13/12/2016
525	Millennium Group Loan for SMEs and Mid-caps	Poland	100.00m	560.00m	Smaller companies	13/12/2016
526	Arcelormittal European R&D Programme	Belgium; Czech Republic; France; Luxembourg; Poland; Romania; Spain	350.00m	1,248.30m	RDI	13/12/2016
527	LSCT New Development Plan	Italy	Not Disclosed	Not Disclosed		13/12/2016
528	Curetis	Germany	23.00m	222.50m	RDI	30/11/2016
529	Upstream	Greece	25.00m	222.50m	Smaller companies; RDI	28/11/2016
530	Autovie Venete A4 widening	Italy	250.00m	810.00m	Transport	15/11/2016
531	Nova SBE Campus	Portugal	13.03m	61.20m	Social infrastructure	15/11/2016
532	El Corte Ingles Digital Transformation RDI	Spain	116.00m	258.57m	Digital; RDI	15/11/2016
533	Commerzbank SME Mezzanine ABS	Germany; EU Countries	138.59m	798.00m	Smaller companies	15/11/2016
534	Italgas Gas Smart Metering	Italy	300.00m	620.00m	Energy	15/11/2016
535	Ansaldo Innovative Gas and StECm Turbine DEV	Italy	80.00m	165.60m	RDI	15/11/2016
536	Alpha Bank ABS Loan for SMEs and Mid-caps	Greece	250.00m	700.00m	Smaller companies	15/11/2016
537	Eiffel Energy Transition Fund	Croatia; France; Germany; Italy; Lithuania; The Netherlands; Poland; Slovenia; Spain; United Kingdom	40.00m	1,265.60m	Energy	15/11/2016
538	France Tres Haut Debit	France	200.00m	509.00m	Digital	15/11/2016
539	Technicolor RDI	Belgium; France; United Kingdom	90.00m	178.60m	RDI	15/11/2016
540	Bank Zachodni Enhanced Support for SMEs and Mid-caps	Poland	339.51m	954.80m	Smaller companies	15/11/2016
541	SCB Poland ABS Loan for SMEs and Mid-caps	Poland	50.85m	218.00m	Smaller companies	15/11/2016
542	CZ Initiative for Energy Efficiency and other Prio	Czech Republic	Not Disclosed	Not Disclosed		15/11/2016
543	Montepio Employment & Start-ups Programme	Portugal	Not Disclosed	Not Disclosed		21/10/2016
544	Amryt Pharma	Germany; Ireland	20.00m	178.00m	RDI	18/10/2016
545	Riga Transport Company	Latvia	50.00m	175.30m	Transport	12/10/2016
546	Tallinn Airport Upgrade	Estonia	30.00m	47.60m	Transport	12/10/2016
547	Italian Green Bond Fund	Italy	15.00m	97.70m	Energy	12/10/2016
548	MM Water Infrastructure Upgrade	Italy	70.00m	246.50m	Environment and resource efficiency	12/10/2016
549	TIIC Transport and Social Infrastructure Fund	Belgium; Germany; Ireland; The Netherlands; Portugal; Spain; EU Countries	60.00m	2,790.00m	Transport; Social infrastructure	12/10/2016
550	Connecting Europe Broadband Fund	Croatia; Czech Republic; Slovenia; Spain; United Kingdom; EU Countries	100.00m	1,372.00m	Digital	12/10/2016
551	Fuel Efficiency RDI	Germany	500.00m	1,197.00m	RDI	12/10/2016
552	Energy Efficient Buildings	Germany	100.00m	173.00m	Energy	12/10/2016
553	Recycled Paper Circular Economy Spain	Spain	70.00m	137.21m	Environment and resource efficiency	12/10/2016
554	Giesecke & Devrient R&D Investments	Germany; Spain; Sweden	80.00m	219.40m	Digital; RDI	12/10/2016
555	BDB Intermediated Loan for SMEs and Mid-caps	Bulgaria	75.00m	416.68m	Smaller companies; RDI	12/10/2016
556	KGAL ESPF 4	Bulgaria; France; Germany; Italy; Poland; Portugal; Spain; Sweden	100.00m	892.00m	Energy	12/10/2016
557	Bankia Technology & Digital Development	Spain	50.00m	106.00m	Digital	12/10/2016
558	CPH Airport Expansion Ten-T	Denmark	168.01m	Not Disclosed	Transport	12/10/2016
559	Treves Acoustic Product & Systems RDI	France; Germany; Spain; United Kingdom	35.00m	88.10m	RDI	12/10/2016
560	KSPG Automotive RDI	France; Germany; Italy	250.00m	571.30m	RDI	12/10/2016
561	Smart Innovation	Germany; Spain	25.00m	57.16m	RDI	23/09/2016
562	Rock Rail East Anglia	United Kingdom	64.68m	856.10m	Transport	23/09/2016
563	Food Logistics and Production Modernisation	Poland	30.00m	40.00m	Energy; RDI	23/09/2016
564	Terma Space and Radar Technology RDI	Denmark	28.00m	56.93m	RDI	23/09/2016
565	Norther Offshore Wind	Belgium	218.95m	1,065.50m	Energy	23/09/2016
566	Innovative Surfaces for Sustainable Construction	Spain	70.00m	232.50m	RDI	23/09/2016
567	SATO Energy Efficient Buildings	Finland	180.00m	310.00m	Energy	23/09/2016
568	Dolomiti Energia Networks & Hydro II	Italy	100.00m	170.53m	Energy	23/09/2016
569	Mlekpol S Dairy Production Facility	Poland	50.00m	106.64m	Smaller companies	23/09/2016
570	Viotia Wind Parks	Greece	23.62m	Not Disclosed	Energy	23/09/2016
571	VVO Near Zero Energy Buildings	Finland	204.00m	385.63m	Energy	23/09/2016
572	BPI Employment & Start-ups Programme	Portugal	Not Disclosed	Not Disclosed		23/09/2016
573	BST Employment & Start-ups Programme	Portugal	Not Disclosed	Not Disclosed		23/09/2016
574	BCP Employment & Start-ups Programme	Portugal	Not Disclosed	Not Disclosed		23/09/2016
575	Cgd Employment & Start-Ups Programme	Portugal	Not Disclosed	Not Disclosed		23/09/2016
576	OHB Space RDI	Germany; Luxembourg; Sweden	30.00m	32.30m	Smaller companies; RDI	20/09/2016
577	Greek Regional Airports PPP	Greece	280.40m	400.00m	Transport	19/07/2016
578	Kujawsko-Pomorskie Healthcare Program III	Poland	54.47m	101.25m	Social infrastructure	19/07/2016
579	Daher Industrial and Product Innovation	France	60.00m	122.50m	RDI	19/07/2016
580	French Overseas Territories Economic Development	France	180.00m	1,191.99m	Digital; Energy; Transport; Environment and resource efficiency; Smaller companies; Social infrastructure	19/07/2016
581	Tauron Electricity Distribution II	Poland	190.00m	386.00m	Energy	19/07/2016
582	Poznan Affordable Housing	Poland	33.62m	53.00m	Social infrastructure	19/07/2016
583	Multi Sector IT RDI	Spain	80.00m	174.56m	RDI	19/07/2016
584	Mecachrome usine du futur & innovation	France; Portugal	40.00m	81.70m	Smaller companies; RDI	19/07/2016
585	Aimag settore idrico e ambiente	Italy	59.00m	118.50m	Energy; Environment and resource efficiency	19/07/2016
586	Agricover Loan for SMEs	Romania	20.00m	54.00m	Smaller companies	19/07/2016
587	Diorama Hellenic Growth Fund	Greece	20.00m	121.00m	Digital; Environment and resource efficiency; Smaller companies	19/07/2016
588	Digital Innovation	Denmark; Finland; Sweden	100.00m	330.00m	Digital	19/07/2016
589	Toscana energia gas Network & Metering	Italy	90.00m	150.90m	Energy; Smaller companies	19/07/2016
590	Lisbon Urban Renewal Housing Climate FL	Portugal	143.25m	523.00m	Transport; Environment and resource efficiency; Social infrastructure	19/07/2016
591	Banca del Mezzogiorno Loan for SMEs and Mid-caps	Italy	50.00m	140.00m	Smaller companies	19/07/2016
592	Przewozy Regional Rolling Stock Modernisation	Poland	Not Disclosed	Not Disclosed		19/07/2016
593	Lietuvos Energija Vilnius CHP project	Lithuania	190.00m	226.00m	Energy; Environment and resource efficiency	16/06/2016
594	CUBE Infrastructure Fund II	Czech Republic; Denmark; France; Germany; Ireland; Italy; Portugal; Spain; Sweden; United Kingdom; EU Countries	100.00m	729.00m	Digital; Energy; Transport; Environment and resource efficiency	16/06/2016
595	Societá Gasdotti Italia - Gas transmission	Italy	43.50m	87.70m	Energy; Smaller companies	16/06/2016
596	Malin Corporation - Life Sciences Investments	Ireland; United Kingdom	55.00m	1,750.00m	Smaller companies; Social infrastructure; RDI	16/06/2016
597	Mirova BTP Impact Local Fund	France	15.05m	135.44m	Digital; Transport; Social infrastructure	16/06/2016
598	NBG loan for SMEs and Mid-caps	Greece	215.00m	602.00m	Smaller companies	16/06/2016
599	Guarantee for Enhanced SME Mid-caps support	Spain	72.25m	364.00m	Smaller companies	16/06/2016
600	LTE Volte - High Speed Mobile Internet Roll-out	The Netherlands; Sweden	125.00m	250.30m	Digital	16/06/2016
601	Spain enhanced support to SMEs and Mid-caps	Spain	500.00m	Not Disclosed	Smaller companies	16/06/2016
602	Dasos Fund II Co-Investment Forestry Ireland	Ireland	28.50m	39.00m	Environment and resource efficiency	10/06/2016
603	Fond - ICO Risk Sharing Loan	Spain; EU Countries	125.00m	3,462.65m	Smaller companies	19/05/2016
604	Aperam R&D and Cohesion regions	France	50.00m	61.30m	RDI	19/05/2016
605	Infracapital Greenfield Infrastructure Fund	Belgium; Finland; France; Germany; Italy; Poland; Portugal; Spain; United Kingdom	118.14m	8,895.00m	Digital; Energy; Transport; Environment and resource efficiency; Social infrastructure	19/05/2016
606	Tripla Near-Zero Energy Building project	Finland	130.00m	482.10m	Energy; Environment and resource efficiency	19/05/2016
607	Automotive Steel RDI	France; Germany; Spain; Sweden; United Kingdom	160.00m	311.30m	RDI	19/05/2016
608	Calvin Smartmeter Roll-out	United Kingdom	47.92m	2,114.82m	Energy	19/05/2016
609	PSA Efficient Powertrains	France	250.00m	Not Disclosed	RDI	12/04/2016
610	Fonds SPI - Sociétés de projets industriels	France	33.00m	1,695.00m	Smaller companies; RDI	12/04/2016
611	Rentel Offshore Wind	Belgium	250.00m	983.90m	Energy	12/04/2016
612	Agro Food Industry RDI	Greece	15.00m	30.87m	RDI	12/04/2016
613	Growth Equity Fund Mid-caps	Portugal; Spain	40.00m	768.68m	Smaller companies; RDI	12/04/2016
614	Combined Heat and Power Plant Kiel	Germany	105.00m	248.80m	Energy	10/03/2016
615	A6 Almere Motorway PPP	The Netherlands	78.65m	234.00m	Transport	10/03/2016
616	Ecotitanium	France	30.00m	56.70m	RDI	10/03/2016
617	QUAERO European Infrastructure Fund	Belgium; Finland; France; Germany; Italy; Lithuania; Spain; United Kingdom	40.10m	1,300.80m	Digital; Energy; Transport; Environment and resource efficiency; Social infrastructure	10/03/2016
618	Heidelberger Druckmaschinen - Printing RDI	Germany	100.00m	270.30m	RDI	10/03/2016
619	Energiepark Bruck Onshore Wind	Austria	38.17m	65.10m	Energy	10/03/2016
620	Normandy Dairy Production Facility	France	55.00m	116.23m	Smaller companies	10/03/2016
621	Susi Renewable Energy Fund II	Denmark; Finland; France; Germany; Ireland; Italy; The Netherlands; Portugal; Sweden; United Kingdom	65.00m	1,042.85m	Energy	10/03/2016
622	IMPAX New Energy Investors III	Finland; France; Germany; Ireland; Italy; The Netherlands; Poland; Spain	75.00m	1,087.80m	Energy	03/03/2016
623	Logements Intermédiaires - SLI	France	500.00m	1,553.00m	Environment and resource efficiency	02/02/2016
624	Euromed RORO	Italy	185.00m	500.90m	Transport	02/02/2016
625	2I Rete Gas Smart Metering	Italy	200.00m	415.00m	Energy	15/12/2015
626	Accessibility Ports Infrastructure	Spain	105.00m	425.36m	Transport	15/12/2015
627	Eastern Poland Dairy Production Facility	Poland	20.00m	73.20m	Smaller companies	15/12/2015
628	Novamont Renewable Chemistry	Italy	15.00m	93.19m	RDI	15/12/2015
629	ICO Infrastructure Risk Sharing Loan	Spain	Not Disclosed	Not Disclosed		15/12/2015
630	TI - Accelerated Fixed High Speed BB rollout	Italy	500.00m	1,365.70m	Digital	17/11/2015
631	Grand Contournement Ouest de Strasbourg (A355)	France	173.00m	543.76m	Transport	17/11/2015
632	Ginkgo Fund II	Belgium; France; Spain; EU Countries	30.00m	195.00m	Environment and resource efficiency	17/11/2015
633	Raffineria di Milazzo	Italy	30.00m	225.40m	Energy; Environment and resource efficiency; Smaller companies	17/11/2015
634	Trenitalia Regional Rolling Stock	Italy	300.00m	616.80m	Transport	17/11/2015
635	Spee en Picardie	France	35.50m	58.00m	Energy	06/11/2015
636	SEM Énergies POSIT IF Île de France	France	60.00m	200.00m	Energy	28/10/2015
637	Mirova Eurofideme 3 Co-Investment Wind Sweden	Sweden	9.52m	Not Disclosed	Energy	26/10/2015
638	D4R7 Slovakia PPP	Slovakia	426.92m	638.50m	Transport	21/10/2015
639	Beatrice Offshore	United Kingdom	292.18m	2,465.64m	Energy	21/10/2015
640	Alsace Très Haut Débit	France	62.50m	287.53m	Digital	21/10/2015
641	Nobelwind Offshore Wind	Belgium	100.00m	542.20m	Energy	22/09/2015
642	IF TRI en Nord - Pas de Calais	France	20.00m	158.40m	Environment and resource efficiency	22/09/2015
643	Qredits Loan for SMEs	The Netherlands	20.00m	249.17m	Smaller companies	22/09/2015
644	Galloper Offshore Wind	United Kingdom	303.74m	1,555.72m	Energy	22/09/2015
645	Autobahn A10 A24 PPP Neuruppin - Pankow	Germany	250.00m	651.54m	Transport	22/09/2015
646	HBOR Risk-sharing for Mid-caps and other Priorities	Croatia	Not Disclosed	Not Disclosed		22/09/2015
647	SaarLB - RE Project Finance Guarantee	France; Germany	150.00m	356.30m	Energy	21/07/2015
648	Smart meters - Project Spark	United Kingdom	217.59m	1,377.97m	Energy	21/07/2015
649	Capenergie 3 Fund	Belgium; Finland; France; Germany; Ireland; Italy; Spain; Sweden	45.00m	1,466.00m	Energy	21/07/2015
650	Redexis Gas Transmission and Distribution	Spain	160.00m	345.00m	Energy	19/05/2015
651	Copenhagen Infrastructure II	Germany; Poland; Sweden; United Kingdom	75.08m	1,275.00m	Energy	19/05/2015
652	Grifols Bioscience R&D Spain	Spain	100.00m	290.80m	RDI	21/04/2015
653	Arvedi Modernisation Programme	Italy	100.00m	194.00m	RDI	21/04/2015
654	Primary Care Centres PPP	Ireland	70.00m	135.00m	Social infrastructure	21/04/2015
655	Äänekoski Bio-Product Mill	Finland	75.00m	281.20m	Energy; Environment and resource efficiency	15/04/2015
656	A6 Wiesloch-Rauenberg to Weinsberg PPP	Germany	299.42m	631.20m	Transport	12/03/2015

RELATED STUDIES 相關學習

Aug 11, 2021

Fraud Investigation: Jun Hong Shen's ASX IPO - 詐騙調查：雋鴻盛公司之澳大利亞交易所首次公開發行

Aug 11, 2021

JUN HONG SHENG (AUST) LIMITED is a business entity registered with the Australian Securities and Investments Commission (ASIC). The owner (person X) launched an Initial Public Offering (IPO) in Australia, in order to obtain a large number of shares at a price lower than the asset-backed investment.
雋鴻盛（澳大利亞）有限公司是一家在澳大利亞證券和投資委員會 (ASIC) 註冊的商業實體。所有者（X）在澳大利亞進行首次公開募股（IPO），以低於資產支持投資的價格獲得大量股份。

Aug 11, 2021

Jul 25, 2021

Juncker Investment Plan Investigation Report - 容克投資計劃調查報告

Jul 25, 2021

Investigation - 調查Investment Plan - 投資計畫Juncker Plan - 容克計畫

KEITH YUNXI ZHU 朱耘希

Keith Yunxi Zhu was appointed to the Board of TKEG Holdings with effect from 1 November 2021, and assumed his role as the Chief Executive on 15 November 2021. Prior to his appointment, Zhu served as the Chief Executive at THE KEITH & EVEN GROUP and will continue his service.
朱耘希在2021年11月1日被派駐奕資控股之董事會，並在2021年11月15日出席行政長官一職。在任職之前，朱在香港倫敦奕資諮詢有限公司擔任行政長官並且會繼續任職。

http://tkegholdings.com/keith-yunxi-zhu

Juncker Investment Plan Investigation Report - 容克投資計劃調查報告

1

Junker Investment Plan In Brief容克投資計畫簡介

2

Junker Investment Plan and Chinese Government中國政府參與容克投資計畫

Opportunities机遇

Risks 风险

Junker Investment Plan Implement (China Participates) List容克投資計畫（中方參與）實施清單

3

Offshore Company Regulations in Europe[13]歐洲離岸公司相關法規[13]

Data References數據參考

Appendix附錄

4

Flaws in Junker Investment Plan容克投資計劃缺陷

Problematic Geographical Concentration項目地理分佈存疑

The Juncker Plan and the Promotion of PPP 容克計劃與政府和社會資本合作方式的推廣

Low Transparency項目的低透明度

Superficial Due Diligence and Monitoring of Projects膚淺的盡職調查與項目監控

References參考

5

Statistic of Problematic Signed Projects問題項目之統計

Problematic Signed Projects Statistic已簽署之問題項目統計

Fraud Investigation: Jun Hong Shen's ASX IPO - 詐騙調查：雋鴻盛公司之澳大利亞交易所首次公開發行

Fintech and Blockchain in Singapore - 新加坡的金融科技及區塊鏈

Junker Investment Plan In Brief
容克投資計畫簡介

Junker Investment Plan and Chinese Government
中國政府參與容克投資計畫

Opportunities
机遇

Risks
风险

Junker Investment Plan Implement (China Participates) List
容克投資計畫（中方參與）實施清單

Offshore Company Regulations in Europe[13]
歐洲離岸公司相關法規[13]

Data References
數據參考

Appendix
附錄

Flaws in Junker Investment Plan
容克投資計劃缺陷

Problematic Geographical Concentration
項目地理分佈存疑

The Juncker Plan and the Promotion of PPP
容克計劃與政府和社會資本合作方式的推廣

Low Transparency
項目的低透明度

Superficial Due Diligence and Monitoring of Projects
膚淺的盡職調查與項目監控

References
參考

Statistic of Problematic Signed Projects
問題項目之統計

Problematic Signed Projects Statistic
已簽署之問題項目統計