The Europe 2020 Project Bond Initiative proposes to provide European Investment Bank support to private sector companies issuing bonds to finance large-scale (transport, energy, ICT) infrastructure projects. In underwriting a significant component of the project financing, this proposal is a blatant attempt to transfer the private sector risk of these projects on to the already overburdened public purse. Echoing the concerns of CEE Bankwatch, QCEA is concerned that, rather than public funds supporting public infrastructure and socially oriented projects, the funds will be channelled into non-transparent private sector infrastructure projects with uncertain benefits, and where the only guaranteed winner will be the private investors who stand to be paid out from public money if the projects are not financially viable.
Read QCEA’s consultation response (PDF – 76 Kb)
Results of the Consultation
View all the Europea 2020 Project Bond consultation contributions
