CDP's role in the European investment Programme for relaunching the economy
As the successor of the Juncker Plan for the period 2021-2027, InvestEU is the flagship programme of the European Union to boost private investment in Europe and foster growth and competitiveness. The Program consists of three building blocks:
Almeno 30% degli investimenti destinato ad obiettivi climatici
The InvestEU guarantee will operate through four windows:
The total guarantee of €26.1 billion operates indirectly through guarantee agreements signed between the Commission and the Implementing Partners (such as CDP). 75% of the guarantee is implemented through the European Investment Bank Group (EIB and EIF) and the remaining 25% directly through the other partners. CDP applied for the role of Commission's Implementing Partner for the InvestEU Programme and, after signing the Guarantee Agreement, will be able to carry out financial operations guaranteed by the InvestEU Fund in the four windows of the programme.
CDP has successfully completed the accreditation process necessary to ensure the compliance of its systems, rules and procedures with the relevant European legislation. As a "pillar assessed" entity, CDP will be eligible to manage all European programmes whose implementation is delegated by the Commission to Implementing Partners.
The Steering Board oversees the implementation of the Programme and puts forward strategic and operational guidance for the Implementing Partners. On April 29th, 2021 the 10 current members of the Steering Board were appointed, including four representatives of the European Commission, one representative of the European Parliament, three representatives of the EIB Group and two representatives of the Implementing Partners other than the EIB.
CDP and PMV (the Belgian National Promotional Institution) were appointed by the European Commission as the two members representing approximately thirty potential Implementing Partners of the InvestEU Programme other than the EIB.
More precisely, CDP represents large and medium-sized National Promotional Institutions and Banks (Bpifrance, BGK, CDC, ICO, KfW), the Council of Europe Development Bank (CEB), the European Bank for Reconstruction and Development (EBRD) and the Nordik Investment Bank (NIB). PMV represents, instead, the relatively smaller-size NPBIs (e.g. Banco Português de Fomento - Bpfomento, Malta Development Bank - MDB, Strategic Banking Corporation of Ireland - SBCI, Ceskomoravska Zarucni a Rozvojova Banka - CMZRB). The appointment of CPD and PMV was unanimously supported by all the potential Implementing Partners other than the EIB.