European Parliament approves Project Bonds
The European Parliament approved on 31 May 2012 guarantees of € 230 million to back the issuance of "project bonds" for transport, energy and information technology infrastructure projects. €200 million will be set aside to guarantee investments in transport networks, €20 million for information and communication technology (ICT) networks and €10 million for energy connections. The scheme will be managed by the European Investment Bank (EIB).
With an expected multiplier ratio of between 15 and 20, these guarantees could mobilise up to €4.6 billion in private investment. At a time of declining investment due to the financial crisis, project bonds could provide much needed funds for investment and maintenance of Europe's roads.