European Investment Advisory Hub Report 2021

THE HUB’S PARTNERS

CREATING SUCCESS STORIES

Helping people plan, implement and finance sustainable projects by working with national 
promotional banks and institutions (NPBIs) has been a priority for the European Investment 
Advisory Hub since its launch in 2015. This collaboration has expanded continuously and today the 
partner network includes more than 40 national, regional and local financial institutions across the 
European Union.
Almost 30 formal agreements have been signed with NPBIs and other institutions to promote 
knowledge-sharing and provide investment advice directly on the projects. 
The European Investment Advisory Hub works closely with partner institutions on concrete investment 
programmes and projects, covering many aspects related to technical preparation or financial 
structuring. It also helps build these institutions’ capabilities and exchanges information and good 
practices. Most of these activities are carried out in cohesion countries. This work raises awareness of our 
services and delivers more advisory support in these regions.
CROATIA’S DEVELOPMENT BANK WANTS
TO EXPAND INVESTMENTS
The Croatian financial market offers companies mainly traditional ways to raise money. This makes it 
hard for many companies lacking collateral, track-records and stable sources of revenues to get the 
financial help they need to grow. Startups especially are hurt because they are considered high-risk 
investments, as are companies operating in sectors with greater uncertainty and more unpredictable 
rates of profit and revenue. Supporting Croatia’s immature venture capital and private equity markets 
could be a good way to offer these companies the funds they need.
The Croatian Bank for Reconstruction and Development, known as HBOR, aims to develop a stronger 
private equity and venture capital market in the country. It wants to mobilise at least €100 million from 
different sources and invest alongside private investors in new equity initiatives. 
HBOR requested the European Investment Advisory Hub’s support in strengthening its internal 
functions and helping it gain a better understanding of the private equity and venture capital market’s 
needs, opportunities and barriers. Experts mobilised by the European Investment Advisory Hub are 
providing HBOR’s staff with a market assessment and proposed investment strategy together with 
training, coaching and information sharing, with the aim of developing their expertise in equity 
investments. Private equity provides a firm with capital in return for total or partial ownership. The 
investor may take on some of the firm’s management and may share the firm’s profits. By showcasing 
best practices from other EU Member States and fostering the participation of public and private 
investors in equity initiatives, this advisory assignment is helping to turn HBOR into a centre of 
excellence in the world of private equity and venture capital in Croatia. 
THE HUB’S PARTNERS 
“Our main goal is to increase the quality and volume of sustainable
public sector investments in Croatia and contribute to balanced social 
and economic regional development."
Tamara Perko, president of HBOR’s management board

The support for HBOR was provided as part of a cooperation agreement between the European 
Investment Advisory Hub and the EIF-NPI Equity Platform. The platform was launched by the European 
Investment Fund and the European Commission to promote knowledge sharing and best practices 
between NPBIs and the EIF. In 2021, the European Investment Advisory Hub and the platform launched 
a pilot cooperation programme, in which advisory experts helped members of the platform build their 
capacities and raise their awareness about funding and investment opportunities, and assisted them 
with advisory support. After a successful pilot year, the advisory cooperation will continue under 
InvestEU.
FUNDING FOR PARTNERS TO OFFER BETTER ADVISORY 
SERVICES
The European Investment Advisory Hub has helped NPBI partners offer better advisory services locally 
to project promoters. This was achieved through a specific call for proposals for national promotional 
banks and institutions. The call was open between December 2017 and June 2020 and offered grants 
covering up to 75% of the eligible cost of advisory activities. The European Investment Advisory Hub 
received 21 proposals and signed 14 funding agreements with successful applicants, who implemented 
programmes focusing on setting up new advisory capabilities or directly supporting local project 
promoters. Around 300 projects in nine EU countries have been assisted under this programme. 
INVESTING IN SUSTAINABLE CITIES WITH THÜRINGER 
AUFBAUBANK
Cities in the German state of Thuringia face challenges in preparing and implementing financially viable 
projects in sustainable transport, energy, housing and other services. With the support of the European 
Investment Advisory Hub, Thüringer Aufbaubank, Thuringia’s promotional bank, helps cities initiate, 
plan and implement infrastructure investments, improving the use of both public and private resources. 
The programme focuses on projects in key sectors, such as energy and resource efficiency, the circular 
economy and green urban development. With support from the European Investment Bank, Thüringer 
Aufbaubank is developing an online tool to perform economic efficiency analyses of projects.
To strengthen cities’ capabilities, experts from Thüringer Aufbaubank will organise knowledge-sharing 
activities on structuring sustainable investment projects that help residents.
“Using the newly created advisory approach, developed with the help of
the European Investment Advisory Hub, we can counteract municipal problems.
In the future, we will not only succeed in initiating municipal investments,
but also in promoting and financing them."
Matthias Wierlacher, chief executive of Thüringer Aufbaubank

European Investment Advisory Hub Report 2021