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European Long-Term Investors Association (ELTI)

The ''European Long-Term Investors Association'' represent a European-wide network of National Promotional Banks and Institutions (NPBIs) who offer financial solutions tailored to the specific needs of their respective country and economy. As of August 2023, the association gathers 31 European long-term investors from 21 Member States across the European Union as well as candidate countries. With a combined balance sheet of € 2.7 trillion, ELTI's goal is to promote long-term investment in close alignment with the objectives and initiatives developed by the European Union in order to foster sustainable, smart and inclusive growth and job creation. Multilateral financial institutions complement the activities at national level with specific cross-border solutions or investments with a European impact. Following the specific public mission of each member the business model of each institution differs from country to country including different products and approaches. This is the same for multilateral ELTI members. Most of the members offer various debt-products but not all members have a mandate for investment in equity. The Association promotes and attracts quality long-term investment in the real economy.

Given the rapid changes our societies are undergoing and the 'short-termist' tendency of many economic and political actors, the need for long-term vision is more important than ever. The implementation of far-reaching global objectives such as building sustainable infrastructure for sustainable investment, fighting climate change or innovating in our resources consumption and in production technologies is not only an absolute necessity: it is also a path, in itself, to recovery from the current crisis on a new basis to avoid its return and ensure the well-being of future generations.

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Goals and Activities

  • Joint Collaboration

    Maintaining a permanent and constructive dialogue on long-term financing with European financial institutions whilst representing, promoting and defending the shared interests of our Members. This includes informing the EU institutions on the role and potential of the Members as agencies for long-term financing and promoting convergence and common positions in response to consultations launched by the European Commission.

  • Access to Finance

    Developing the concept of long-term investment within the economic and financial sector whilst strengthening cooperation at an operational level, acting as long-term financiers and facilitating access between European and national financing schemes.

  • Sharing of Expertise

    Strengthening the access of the Members to information on matters related to the EU and exchanging information and experiences amongst Members. This includes sharing the Association's interest and advice to the EU with regards to the promotion of long-term investment and informing its Members on the discussions, initiatives and measures conducted by the EU institutions.

  • Knowledge & Mutual Support

    Promoting academic research on long-term investments and exerting influence on EU Institutions by acting as a common interlocutor and Member spokesperson without prejudice to the separate freedom of expression of each Member. These include initiating and publishing research programmes and case studies and holding conferences on behalf of our Members.

National Promotional Banks and Institutions (NPBIs) - ELTI Members

News about NPBIs

  • Fabio Gallia, former CEO of CDP, passes away at 60

    Fabio Gallia, former CEO of Cassa Depositi e Prestiti, passed away on 7 May 2024 at the age of 60. This sudden death is a huge loss for all those who knew him. 

    Fabio had a brilliant professional career. Initially a consultant at Accenture, he quickly turned to banking and finance, beginning his venture within the financial sphere at Ersel, later becoming CEO of Banco di Roma and Fineco. In 2008, he became CEO of BNL, the Italian subsidiary of BNP Paribas, and he would later head all BNP Paribas Group activities in Italy. In 2015, he became CEO of Cassa Depositi e Prestiti (CDP), alongside Claudio Costamagna as Chairman. Under his leadership CDP was recognized by law both as National Promotional Institution and as Institution for International Development and Cooperation. With the introduction of the Juncker Plan, and relying on the EIB and the ELTI network, Cassa’s influence continued to multiply. From a national standpoint, this NPI was always involved in many operations which favor the Italian economy. However, CDP also revived itself at European level by multiplying contacts with its German, Spanish, Polish and, of course, French counterparts.

    Read more …

  • ELTI Brochure: Green Investments

    ELTI Brochure on Green Investment

    In January 2024, ELTI released its latest brochure, presenting 16 lighthouse projects in the field of Green Investment, each supported by their respective NPBI, all of which are members of ELTI.

    Read more …

  • ELTI Brochure: Innovation

    ELTI Brochure on Innovation

    In November 2023, ELTI released its latest brochure, presenting 16 lighthouse projects in the field of Innovation, each supported by their respective NPBI, all of which are members of ELTI.

    Read more …

  • ELTI gathers in Prague for its 11th General Assembly, the first under the Presidency of Dario Scannapieco (CDP, Italy)

    Press Release

    Prague/Bruxelles, October 20th, 2023 – The members of the European Long-Term Investors (ELTI) Association have gathered in Prague for ELTI’s 11th General Assembly, hosted by ELTI’s Czech member Národní rozvojová banka (NRB) and chaired for the first time by the newly-elected ELTI President Dario Scannapieco, CEO of the Italian National Promotional Institute Cassa Depositi e Prestiti (CDP).

    The General Assembly of the Association of European NBPIs was a key moment to discuss the first initiatives to implement the new strategy, which aims to strengthen ELTI's presence in Europe and to reaffirm the importance of NPBIs (National Promotional Banks and Institutions) by favouring long-term investments.

    The event, which was attended by representatives of the 31 ELTI members, was an opportunity to share and discuss best practices of cooperation between NPBIs, identifying shared solutions and tools to address upcoming strategically significant challenges facing the European Union. The participants also reflected on how to promote the inclusiveness of the Association by encouraging its expansion to new members, with the aim of making ELTI increasingly the expression of the voice of all EU countries and a more effective instrument at the service of the European institutions.

    Read more …

Publications

  • ELTI Newsletter

    Brussels, October 2023

    First Edition: ELTI launches first edition of the ELTI Newsletter   PDF


    Brussels, December 2023

    Second Edition: Together we can do more!    PDF


     

     
  • Other Publications

    Brussels, 4 March 2024

    Development Bank FBIH started negotiations for membership in another renowned European association: ELTI

    The Association of European Long-Term Investors (ELTI) represents a broad European network of national promotional banks and institutions that offer financial solutions adapted to the specific needs of countries and their economies.

    From August 2023, ELTI gathers 31 members from 21 member states of the European Union, as well as candidate countries, with the aim of promoting long-term investments in close connection with the goals and initiatives developed by the European Union, in order to encourage sustainable, smart and inclusive growth and job creation.

    In this context, in the premises of the Development Bank of the Federation of Bosnia and Herzegovina, a meeting was held on the topic of potential membership of this bank in the ELTI Association, which was attended by Mr. Helmut von Glasenapp, General Secretary of ELTI, and Mr. Dalibor Milinković, Acting Executive Director for Projects and Development of the Development Bank FBIH .

    Taking into account the status of Bosnia and Herzegovina as a candidate for membership in the European Union, joining ELTI Development Bank FBIH would have access to continuous exchange of information and experiences with other members, promotion of interests by ELTI and active participation in initiatives that support the harmonization of banking regulations with European standards. In addition, it would be enabled to be informed in a timely manner about all changes in EU policies that affect the banking sector, but also the possibility to initiate issues of importance for the bank and the sustainable economic development of BiH.

    "I am pleased to point out that Development Bank FBIH has started negotiations for membership in another renowned European association - ELTI, with the aim of harmonizing its operations with the standards of the European Union. This meeting represents another important step in our effort to ensure compliance of our bank's operations and regulations with European practices and rules.

    We also recently started negotiations for membership in the European Association of Public Banks (EAPB) and held a meeting with the Croatian Bank for Reconstruction and Development, a long-standing EAPB member that also actively participates in the work of the board of directors of both associations. Now we will carefully consider all aspects related to membership in ELTI.

    Membership in these renowned associations gives us access to advice, good practices and experiences of countries that have already gone through the process of integration, connection with European institutions, which would contribute to higher quality operations of our bank aligned with European norms." said Dalibor Milinković, Acting Executive Director for Projects and Development at Development Bank FBIH.

    Brussels, 12 June 2023

    Confrontations Europe, Laurent Zylberberg: Entre Faux prétextes et vrais problèmes, les industries de défense et la lutte contre le changement climatique

    In this article for Confrontations Europe, ELTI President Laurent Zylberberg shows that beyond the debates on the non-application of the European taxonomy on the defense sector, Europe must put in place a lasting and sustainable defense industry as well as provide adequate financing for their needs, both of which cannot be envisaged without long-term investors.                                                                                (French & English versions available) PConfrontationsEurope,Laurent ZylberbergEntreFauxprétextesetvraisproblèmeslesindustriesdedéfenseetlaluttecontrelechangementclimatiqueDF PConfrontationsEurope,Laurent ZylberbergEntreFauxprétextesetvraisproblèmeslesindustriesdedéfenseetlaluttecontrelechangementclimatiqueDF

    Brussels, 10 February 2023

    "The Role of Public Development Banks & Institutions in the Implementation of the United Nations’ Agenda 2030: A Survey in Europe"

    The 17 Sustainable Development Goals (SDGs or Goals) were introduced by the United Nations as a blueprint to achieve a better and more sustainable future for all. Financial systems play a key role in this transition by providing funding for economic activities and reorienting capital flows towards a more sustainable economy and many private sector players have been adopting the SDGs as a guide for their sustainability programmes. In this context, Public Development Banks and Institutions (PDBIs) - entities initiated by governments at regional, national and multinational level to proactively pursue public policy objectives – may have specific mandates to provide and/or help mobilise financial support for additional investments with social and environmental objectives that the market fails to finance. Therefore, these players are by their nature called to action and to contribute to the SDGs.

    This paper offers a first attempt to track the sustainability performance of PDBIs in Europe where, for several reasons, we are witnessing an enhanced public intervention in the economy, and PDBIs’ contribution to the alignment of EU Member States to the SDGs. PDTheRoleofPublicDevelopmentBanks&InstitutionsintheImplementationoftheUnitedNations’Agenda2030:ASurveyinEuropeF

    Brussels, 30 December 2022

    "Long-term investment, the keystone of a low-carbon, sovereign and competitive Europe"

    Bernard Attali, Michel Derdevet and Laurent Zylberberg published a report (in French) which seeks to answer various questions on Geopolitical instability, the energy crisis, and on uncontrolled inflation. These are some of the many challenges that the European Union will have to face over the upcoming decades. They will obviously require massive and constant financial efforts over several decades. Long-term investment is therefore at the very heart of the issues facing the European Union. This is why it is urgent to develop and implement a real long-term investment strategy based on three pillars: increasing financing volumes, the mobilization of private capital and the establishment of an improved strategic vision. PL’investissementdelong termeclédevoûted’uneEuropedécarbonée, souveraineetcompétitiveDF

    Brussels, 26 January 2022

    "Investing for the long term, a short-term emergency"

    Bernard Attali and Laurent Zylberberg published this report which seeks to answer various questions including:

    How can we invest for the long term in an increasingly uncertain environment, where signals are scrambled, chaotic and difficult to read? What can the logic of long-term investments be when recent history has turned the most rational economic calculations on their heads? How can we take into account all the effects of investment decisions when these effects are increasingly numerous and complex? Is it not the case that the high cost of investments for sustainable growth, which should have been made a long time ago, grows as those investments become increasingly necessary? Because the crisis requires an urgent response, to deal with the most critical situations, is it not becoming increasingly difficult to take into account the long term, whose effects are less immediate?

    Although the research focuses on the situation in France, the work carried out in this research is intended to be broadened to encompass Europe as a whole for a study of greater depth and particularly within the European paradox: a group of highly interconnected economies where each economy of that group has strong individual features derived from history. PattalireportTF


    Brussels, 6 December 2021

    The European Commission published the ESIF Financial Instruments annual summaries for 2020. By the end of 2020, indicative ERDF and Cohesion Fund allocation for Financial Instruments (FIs) in the submitted programmes was EUR 22.4 billion or about 9% of the total ERDF and Cohesion Fund envelope for the 2014-2020 period. Looking at the different uptake of FIs among Member States in the 2014-2020 programming period, this cannot be explained solely by differences in the fields of intervention, the level of development or the size of allocations, as similar Member States have very different shares of FIs. Lessons learned from the Member States allocating more of their resources to FIs should be used to explore the potential for increased use of FIs in the 2021-2027 programming period. Psummary_data_fi_1420_2020.pdfTF


    Brussels, 24 November 2021

    Through the European Green Deal process, which began in December 2019, a great change was seen when it came to the EU Green Deal and with regards to the Circular Economy, especially within the industrial sectors. The Border Carbon Regulation, which will come into effect in the coming period, is important for the Turkish industries and for Turkey's export strategy. In this context, it comes to the fore that significant investments may be required for the European Green Deal and Circular Economy. Where Turkey is considered, it is of great importance to involve the private sector in adaptation investments, which cannot gain importance only by transferring public resources.

    Having adopted sustainability and inclusion as its core business model, TSKB initially released its “European Green Deal and Circular Economy Theme Study” as part of its mission to implement Turkey's industrial transition with our stakeholders. While the economic and social effects of the risks stemming from climate change are starting to be seen clearly, the regulations taken towards decarbonization have come to the fore. Within this axis, which can be seen in this report, TSKB aims to examine the effects of the EU Green Consensus and the circular economy concept in Turkey. PTSKB-European_Green_Deal_and_Circular_Economy_Theme_Study.pdfDF 


    Brussels, 23 November 2021

    The European Think Tanks Group (ETTG) published a study on Financing the 2030 Agenda: An SDG alignment framework for Public Development Banks. This study aims both to propose a definition of Sustainable Development Goals (SDGs) alignment and to provide concrete principles for public development banks (PDBs) to further operationalise and promote such alignment in practice. As such, it supplies a much deeper comprehension of the 2030 Agenda, arguing that alignment with the Paris Agreement and the SDGs must go hand in hand.PETTG-study-Financing-the-2030-Agenda-An-SDG-alignment-framework-for-Public-Development-Banks.pdfDF

    There is also a second report which builds on the inaugural New Structural Economics Development Financing Research Report entitled “Mapping Development Finance Institutions Worldwide: Definitions, Rationales, and Varieties”, carried out by the Institute of New Structural Economics (INSE) at the Peking University in China. The objective of the present report is to refine the qualification criteria of PDBs and development financing institutions (DFIs) and propose potential typologies to reveal their vast diversities. PNSE_development_finance_research_report_no.2_Mapping500DBs_002.pdfDF


    Brussels, 24 October 2023

    STEP Proposal PSTEP ProposalDF

     
  • ELTI Position Papers

    Brussels, 25 March 2024

    ELTI Position Paper:  Recommendations Reporting Requirements: 

    As Implementing Partners as well as financial intermediaries of the InvestEU Programme, ELTI members welcome the proposal for a “Regulation amending Regulations as regards certain reporting requirements in the fields of financial services and investment support. More specifically, ELTI welcomes the proposal to amend Article 28(4) of the InvestEU regulation on Monitoring and Reporting by changing the frequency of reporting on the financing and investment operations from biannual to annual. PDF

    Brussels, 25 March 2024

    ELTI Position Paper:  Strategic Outlook 

    The members of the European association of Long-term Investors (ELTI) proposes 5 core principles that should be upheld in view of the next MFF for 2028-2034. PDF

    Brussels, 25 March 2024

    ELTI Position Paper: Summary

    For the mid-term review of the ongoing Multiannual Financial Framework (MFF) ELTI members draw conclusions from their implementation experience with 4 EU Financial Instruments: InvestEU, CEF Blending Transport, Horizon and Cohesion Policy Funds. ELTI is happy to share observations and  proposals for the improvement of the instruments for the remaining 4 years of the 2021 – 2027 MFF. PDF

    Brussels, 25 March 2024

    ELTI Position Paper:  Cohesion Policy Funds 

    The Cohesion Policy Funds are an appropriate promotional instrument to increase competitiveness and reducing the gaps in notably economic development between different regions. ELTI members are long-standing Implementing Partners and share the observations and recommendations. PDF

    Brussels, 25 March 2024

    ELTI Position Paper:  Horizon :

    Three years after the start of the Horizon Europe Programme ELTI members would like to share experience and give some recommendations. PDF

    Brussels, 25 March 2024

    ELTI Position Paper: Connecting Europe Facility (CEF) Blending:

    The CEF Blending instrument has evolved to a very positive landmark Financial Instrument and plays an important role in delivering the European Green Deal and increasing EU’s energy independence. ELTI members would like to share observations and recommendations. PDF 

    Brussels, 25 March 2024

    ELTI Position Paper: InvestEU: 

    After three years since the launch of the InvestEU Programme, ELTI members put forward 10 recommendations to improve the functioning of the programme. Such recommendations should be taken aboard in the mid-term review of InvestEU and considered when designing the successor of the Programme in the next Multi-annual Financial Framework (MFF). PDF

    Brussels, 15 December 2023

    ELTI Position Paper: Reduction of information requirements under EU legislation "Have your say procedure” PDF

    Brussels, 10 May 2023

    Joint Position Paper: InvestEU – Joint feedback on the interim evaluation PInvestEU – Joint feedback on the interim evaluation May 2023DF

    Brussels, 17 October 2022

    ELTI Position Paper: Increasing market acceptance on the targeted recast of the EU Financial Regulation PIncreasingmarketacceptanceonthetargetedrecastoftheEUFinancialRegulationDF

    Brussels, 25 May 2022

    ELTI Position Paper: Enhancing the efficiency of measures to fight against Anti-Money Loundering and Countering the Financing of Terrorism PEnhancing the efficiency of measures to fight against Anti-Money Loundering and Countering the Financing of TerrorismDF

    Brussels, 8 December 2021

    AECM, EAPB, ELTI & NEFI Position Paper: Implementation of the GBER – efficient and pragmatic feedback to the ongoing GBER consultation P2021.12.08_-_AECM_EAPB_ELTI_NEFI_Joint_position_paper_GBER.pdfDF

    Brussels, 1 October 2021

    ELTI Position Paper: General comments to the revision of the EU Financial rules applicable to the general budget of the Union PEU - Financial RegulationDF

    Brussels, 5 March 2021

    ELTI Position Paper: InvestEU - Saving the Additionality Principle PInvestEU - Saving the Additionality PrincipleDF

    Brussels, 14 December 2020

    ELTI & NEFI Position Paper: The implementation of the EU Taxonomy PThe implementation of the EU TaxonomyDF 

    Brussels, 16 September 2020

    ELTI Position Paper: Next Generation EU & Factsheets (Enterprises, Health, Renovation Wave, Infrastructure and Territorial Devel.) PNext Generation EU & Factsheets (Enterprises, Health, Renovation Wave, Infrastructure and Territorial Development)DF 

    Brussels, 17 June 2020

    AECM, ELTI & NEFI Position Paper: Overview of measures against the economic impact of the Coronavirus (COVID-19) outbreak PAECM, ELTI & NEFI Position Paper: Overview of measures against the economic impact of the Coronavirus (COVID-19) outbreakDF

    Brussels, 19 March 2020

    ELTI Position Paper: NPBIs ready to fight the COVID-19 economic crisis PELTI Position Paper: NPBIs ready to fight the COVID-19 economic crisisDF

    Brussels, 9 December 2019

    ELTI Position Paper: Promotional Banks’ role in implementing the Paris Agreement PELTI Position Paper: Promotional Banks’ role in implementing the Paris AgreementDF

    Brussels, 30 October 2019

    ELTI Position Paper: EU Taxonomy PELTI Position Paper: EU TaxonomyDF

    Brussels, 16 September 2019

    AECM, EAPB, ELTI & NEFI Position Paper: Comments on the State of Play regarding InvestEU PAECM, EAPB, ELTI & NEFI Position Paper: Comments on the State of Play regarding InvestEUDF

    Brussels, 13 February 2019

    AECM, EAPB, ELTI, NEFI & SME United Position Paper: Comments on SME-related aspects of the proposed InvestEU ProgrammePAECM, EAPB, ELTI, NEFI & SME United position paper: Comments on SME-related aspects of the proposed InvestEU ProgrammeDF

    Read more …

     
  • ELTI Publications

    Brussels, 31 January 2024

    ELTI Brochure: Green Investment PGreen-thecontribution of national promotional banks and institutionsDF 

    Brussels, 21 November 2023

    ELTI Brochure: Innovation PInnovation - The contribution of national promotional banks and institutionsDF

    Brussels, 12 June 2023

    Confrontations Europe, Laurent Zylberberg: Entre Faux prétextes et vrais problèmes, les industries de défense et la lutte contre le changement climatique                                                 (French & English versions available) PDF  PDF

    Brussels, 10 May 2023

    InvestEU – Joint feedback on the interim evaluation PInvestEU – Joint feedback on the interim evaluationDF

    Brussels, 1 February 2023

    ELTI Brochure: ELTI-Invest-NL Impact Investing Brochure

    Brussels, 4 November 2022

    ELTI Brochure: ELTI-CDLF Municipal Finance Workshop Brochure

    Brussels, 12 October 2022

    ELTI Brochure: Sustainable Infrastructure  PELTI_Brochure_Sustainable_InfrastructureDF

    Brussels, 7 December 2021

    ELTI Brochure: Fit for Financing 55  PELTI_Brochure_-_Fit_for_Financing_55.pdfDF

    Brussels, 18 June 2021

    ELTI Brochure: Fight the SARS-CoV-2 pandemic  PELTI_Brochure_Final.pdfDF

    Brussels, 6 July 2020

    ELTI Press Release: PMV joins ELTI PPMV joins ELTIDF

    Brussels, 28 April 2020

    EUROFI Magazine: Investing in the Long-term by ELTI President Laurent Zylberberg PEUROFI Magazine: Investing in the Long-term by ELTI PresidentDF

    Brussels, 14 April 2020

    ELTI Press Release: Slovak Investment Holding (SIH) joins ELTI PELTI Press Release: Slovak Investment Holding (SIH) joins ELTIDF

    Brussels/Paris, 2 April 2020

    'Les Echos' Opinion: Face à l'urgence, préservons l'investissement de long termeVirus: long-term investment must be maintained P'Les Echos' Opinion: Face à l'urgence, préservons l'investissement de long terme / Virus: long-term investment must be maintainedDF

    Brussels, January 2018

    High-Level Task-Force on Social Infrastructure's Final Report - Boosting Investments in Social Infrastructure in Europe PHigh-Level Task-Force on Social Infrastructure's Final Report - Boosting Investments in Social Infrastructure in EuropeDF 

    Full Report

     
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Contact

European Long-Term Investors a.i.s.b.l.
Rue Montoyer 51
B - 1000 Brussels
Belgium
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