€230M EU Project Bond Test Phase Comes Online

Law360, New York (November 8, 2012, 8:46 PM EST) -- The pilot phase of the Europe 2020 Project Bond Initiative was finally rolled out on Wednesday when the European Investment Bank signed off on the completed implementation plan for the €230 million ($293 million) infrastructure bond guarantee program.

"The Project Bond Initiative provides an opportunity for reopening capital markets as a source of financing for crucial transport, energy and communications infrastructure essential for ensuring growth and competitiveness in Europe," EIB President Werner Hoyer said in a statement.

The European Union is using the pilot program to...
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