Local view for "http://purl.org/linkedpolitics/eu/plenary/2012-07-05-Speech-4-168-000"
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"en.20120705.19.4-168-000"2
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"Project bonds are an instrument that has been developed to finance projects in the Connecting Europe Facility, whose aim is to create transport, energy and digital networks. What is worrying is that levels of investment in Europe are falling and this trend began even before the crisis. In addition, networks in the East are not connected to the networks in the West and they need to be joined up. Project bonds are meant to provide an additional instrument for financing infrastructure investment, which will supplement the current system of financing. 2012 and 2013 are earmarked for a pilot project for the bonds and they are to be implemented fully in 2014. The purpose of the pilot stage is to test the reaction of financial markets to the new instrument.
The introduction of project bonds could accelerate the realisation of infrastructure projects by making it easier to obtain private funding. EU backing would provide security for the bonds. Such a containment of risk could encourage various market players to invest in infrastructure projects. Project bonds will not replace grant aid. They are meant as a supplement that will provide more effective and faster investment financing. In addition to the project bonds, private and state funds, whether EU or national, should both continue to play an important role."@en1
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