10.1179/175330310x12736577732764 Rachelle Kaye is the Director of the Maccabi Institute for Health Services Research and the Deputy Director of the Division of Planning and Finance in Maccabi Healthcare Services, Israel.
Ehud Kokia is the Director General of Maccabi Healthcare Services and Professor at the School of Public health Sackler Medical Faculty, Tel aviv University.
Varda Shalev is a practicing family physician and the Director of the Medical Informatics Department, Maccabi Healthcare Services.
Dalia Idar heads the Clinical Computerisation Department in the Division of Health Information technology at Maccabi Healthcare Services, Israel.
A review of the health IT literature supplemented by an analysis of the experience of successful IT implementation in Maccabi Healthcare Services,
marketplace competition and privacy legislation. Critical success factors are integrated innovative leadership management and collaboration with the doctors based on concrete needs, benefits, incentives and support.
Dilemmas for managers include proof of return on investment for health IT versus leadership and tough management decisions;
the optimal balance in the tradeoff between market dynamics, competition and choice, and the value of an integrated system that can generate significant benefit to clinicians, patients and payers;
Rachelle Kaye Maccabi Institute for Health Services Research Israel E-mail: Kaye r@mac. org. il Keywords:
health information technology, e-health, critical success factors, critical enablers, leadership, physician collaboration investment remains difficult.
In the discussion section, we consider the lessons added by the Maccabi experience to the growing literature on the use of these technologies in healthcare services.
The study showed that effective e-health investment does indeed result in better quality and improved productivity
along with new opportunities presented by the technologies themselves, such as telemedicine and internet-based chronic disease management.
lack of clarity regarding the specific cost-benefit to each of the stakeholders (payers, physicians, patients) resulting in‘conflict'with regard to
which of the stakeholders should foot the bill; absence of financial rewards (particularly for the physicians,
and the lack of a strategic organisational process to develop the commitment of all of the stakeholders.
even if there is a lack of sufficient empirical and quantitative evidence regarding return on investment, particularly in the area of cost containment.
Partnership and collaboration with clinicians and other stakeholders have also been demonstrated to be a critical factor in the successful implementation of health IT.
Maccabi Healthcare Services was the first of Israel's four national health plans to develop
Maccabi Healthcare Services is the second largest health fund in Israel providing comprehensive medical coverage to more than 1. 8 million people.
It was established in 1941 as an independent, mutual, not-for-profit health insurance fund. It underwent a change in status in 1995 following the passage of the Israeli National Health insurance Law,
Maccabi Healthcare Services is organised into five districts, encompassing 140 branches, which provide both administrative and healthcare services throughout the country.
Most of the services are provided by independent contracted providers, at the core of which are 4,
000 independent physicians including primary care physicians and specialists. The care they provide is supplemented by 300 senior consultants,
These contracted services are complemented by over 600 salaried physicians and Maccabi owned services including a centralised laboratory system,
a tele-radiology system, telemedicine services (both diagnostic and home monitoring) in cardiology, specialty clinics, a chain of 50 pharmacies and a private hospital network.
In 1983, the leadership of Maccabi Healthcare Services concluded that the healthcare system of the future would require sophisticated information and communication technology for efficient management of the healthcare system,
as well as effective and innovative healthcare services delivery. Maccabi embarked upon the development of its health management information system in 1984.
In 1986, the Maccabi Independent Physicians Barriers and success factors in health information technology W s. Maney & Son Ltd. 2010.
which all healthcare providers use electronic health records and all providers and health services are interconnected electronically online
at a time (1989 94) when computer and communication technology was sophisticated much less than today. Many of the same barriers mentioned above were encountered by Maccabi as it made key decisions in the process of developing its system.
JUNE 2010 171 the insertion of the membership card generated an online connection to the Maccabi database for verification of the patient's eligibility to receive services,
In addition, in all cases, there was a major investment on the part of the Health System Integrator organisation in training,
Discussion The analysis of the Maccabi Healthcare Services experience in developing and implementing an EHR-based health information system identified ten critical success factors.
'and‘return on investment'studies under the assumption that these will convince leadership to make the commitment and the necessary investment.
the added value of being connected electronically to other providers such as the laboratory, imaging services, consultants and others, is one of the more visible benefits that clinicians seek from such a system.
competition and choice need to be weighed against the value of an integrated system that can generate significant benefit to clinicians, patients and payers.
Connectivity and investment in the communication infrastructure for clinical data exchange is a must for a system that will be sustainable over time, in terms of benefit to doctors, patients and the healthcare system.
+49 (0) 40 428 78 2867 rajnish. tiwari@tuhh. de, stephan. buse@tuhh. de ABSTRACT Technological advancements, especially in Information and Communication Technologies
(ICT) have enhanced greatly the competition spurred by the globalization of the world economies. Even small and medium-sized enterprises (SMES) are no more immune to the challenges that the globalization brings about.
It is a remarkable, and in certain instances worrisome, situation since SMES play a key-role in most economies,
in that they constitute the largest business block and provide the bulk of employment. However, opportunities presented by the globalization
and the entwined, simultaneous pressure to innovate opens for SMES new arenas to engage in
and Labour Affairs in Hamburg and co-financed by the European union (EU). The findings of this survey are matched here against perceived opportunities
Barriers to Innovation, Globalization of Innovation, Internationalization of R&d, Research & development, Small and Medium-sized Enterprises (SME) This Paper should be referred to as following:
4 2. 2 Small and Medium-sized Enterprises (SMES...5 2. 3 Connecting SMES to Innovation...
21 4. 3 Leveraging Market Opportunities...21 5-Challenges of Global Innovation...22 5. 1 Finding Qualified Personnel...
22 5. 2 Cost Explosion in Booming Economies...22 5. 3 Protection of Intellectual Property rights...
22 5. 6 Cross-cultural Issues and Communication...23 5. 7 Acceptance Issues...23 6-Implications and Research Outlook...
R. Tiwari and S. Buse (October 2007) Page 4 of 31 1-Introduction Technological advancements, especially in Information and Communication Technologies (ICT) have enhanced greatly the competition spurred by the globalization of the world economies.
Even small and medium-sized enterprises (SMES) are no more immune to the challenges that the globalization brings about.
and in certain instances worrisome, situation since SMES play a key-role in most economies,
Innovative ideas and products are becoming increasingly important to counter the priceoriented competition from low-cost producers from emerging economies
services or processes, see e g. Herstatt et al. 2007b). ) Opportunities presented by the globalization and the entwined, simultaneous pressure to innovate,
opens for firms, also for SMES, new arenas to engage in what we may call are global innovation activities
and Labour Affairs in Hamburg and co-financed by the European union (EU The findings of this survey are matched here against perceived opportunities
while elaborating the crucial role that SMES play in the economy. 2. 1 Innovation Innovation,
For the purpose of this paper, we may regard innovation as invention and commercialization of new (or betterment of existing) products, processes and/or services (Tiwari, 2007.
Innovations usually do not take place in a given, static environment. They are rather a result of a dynamic process in an organisation that involves interplay of several internal and external factors.
Three Phases of a Simplified Innovation Process 2. 2 Small and Medium-sized Enterprises (SMES) The term small and medium-sized enterprises (SMES) consists of two components:
while the second component enterprise relates to the economic nature of that entity. An enterprise,
as defined by the European commission (EC) in Article 1 of its recommendation on definition of micro,
small and medium-sized enterprises, may be understood as any entity engaged in economic activity, irrespective of its legal form (EC, 2003a).
3 Phases of a Simplified Innovation Process Conception Implementation Marketing Requirement Analysis Idea Generation Idea Evaluation Project Planning Development/Construction Prototype Dev.
R. Tiwari and S. Buse (October 2007) Page 6 of 31 In a differing approach the European commission defines SMES as enterprises which employ fewer than 250 persons and
even though SMES play an important role in the national economy as discussed in the following.
which represented 99%of all enterprises in the enlarged European union of 25 countries while providing around 75 million jobs (EC, 2003b).
In Germany, according to Ifm Bonn1, SMES accounted for 99.7%of all enterprises in year 2005
Recent calculations by the authors of this paper, based on Germany's official statistics portal data, show that the high percentage of SMES amongst all enterprises continues to remain high.
As on 31.12.2006 large firms (with 250 employees or more) constituted a miniscule 0. 33%of all enterprises.
Of 3, 215,238 enterprises active on the aforementioned date an overwhelming 3, 204,519 were SMES (with less than 250 employees.
2 These data exemplarily demonstrate the key-role which SMES play in Germany's economy.
For detailed discussions on SMES'role in the German economy see Hamer (1997), Bundestag (2002), Günterberg and Kayser (2004),
and Idw (2004). 2. 3 Connecting SMES to Innovation Notwithstanding their large share in all enterprises
For instance only 39.1%of the total turn over generated by all enterprises in Germany in 2005 went into SMES'account (Ifm, 2007b.
At the same time, the increasing globalization is bringing in more competition in the home market, the traditional stronghold of many SMES.
and find themselves faced with tough price-oriented competition from low-cost producers from emerging economies in Asia
blocking international competition is not a solution to such problems (Smith, 1994). For the increased competition is ultimately beneficial for the consumer in the form of cheaper and/or better goods and services.
Consumption is the sole end purpose of all production; observed Smith, and the interest of the producer ought to be attended to,
Moreover, blocking foreign firms from doing business in the country may lead to trade retaliations abroad that could severally affect an export-oriented economy like that of Germany.
but also presents an opportunity to internationalize sales in new, rapidly growing markets and thereby to generate additional revenues.
New markets however (may) also require products and services which are adapted to the local needs and tastes of those markets.
and cost-effective production distribution and after-sales services; see e g. Dangayach et al. 2005) and Spielkamp & Rammer (2006.
and have direct contact to customers thereby potentially gaining valuable impulses in the form of customer feedback.
and services faster Develop products and services cheaper Develop better products and services Improve competitive position Enhance profitability,
strengthen stability BARRIERS TO INNOVATION IN SMES: CAN THE INTERNATIONALIZATION OF R&d MITIGATE THEIR EFFECTS?
R. Tiwari and S. Buse (October 2007) Page 8 of 31 more informal manner and confronted with fewer intra-firm hierarchy levels than large firms,
should enable them to develop products better suited to market demands and thus bring more success. In practice,
and Hamburg Institute of International Economics (HWWA, 2004). Comparing the findings of the aforementioned surveys it would not be an unreasonable assumption that SMES in the respective countries
and other developed economies we conducted a new set of investigation. The methodology and selected results of this study are explained in the following. 3. 2 Findings of the Survey RIS-Hamburg To identify barriers to innovation in SMES in the Metropolitan Region of Hamburg we at first conducted an empirical study in form
the survey targeted mainly SMES from the fields of IT, Media, Civil Aviation, Electronics, Machinery Manufacturing, Maritime Economy, Medical Equipments, Logistics,
and Services sector. To reduce the time needed to fill out the questionnaire, respondents could choose to answer only questions from modules which,
R. Tiwari and S. Buse (October 2007) Page 10 of 31 Services; 11%Electronics; 16%IT;
Many projects were aborted in late phases, causing significant losses in the form of sunk costs and lost opportunities. 42%42%16%0%10%20%30%40
11%Communication problems; 5%n=33figure 13: Problems in International Cooperation with Universities The discussion above has brought to fore the chances and challenges that firms,
but in many other Western countries are faced with scarcity of skilled labour owing primarily to two reasons:
According to some preliminary calculations the shortage of skilled (technical) labour, primarily of engineers and scientists, is leading to a loss of over 20 billion euros a year in the form of unrealized business opportunities.
The study carried out by Cologne-based Institut der deutschen Wirtschaft (Idw) on behalf of Germany's Federal Ministry of Economics
SMES with a staff of 50 to 249 employees were found to be suffering more from this scarcity (60%)than did large firms (40%)(BITKOM, 2007b.
e g. attractive brand names or access to human capital abroad. 3. 3. 2 Financial Problems and State Support As stated in section 3. 2 the lack of financial resources
It is therefore not surprising that many SMES have started recognizing the opportunities that the globalization enables not only in the production but also in R&d.
fast-growing markets such as China and India, may offer tremendous opportunities, e g. in the form of vast pools of qualified human resources in science and technology, cheaper labour costs and access to new, fast
R. Tiwari and S. Buse (October 2007) Page 20 of 31 Setting up offshore R&d centres provides firms with an opportunity to tap into a larger talent pool
emerging economies in Asia are rapidly taking over the role of lead markets by their openness for consumption
or they may cause high opportunity costs in the form of lost business opportunities (in case of prohibition).
or is possible with significantly lower restrictions then it may make sense to locate R&d efforts in that country. 4. 3 Leveraging Market Opportunities
In addition to knowledge and cost factors there might be significant market opportunities abroad in the form of demand for localized products in fast-growing markets.
More and more people in emerging economies are having financial resources to buy high-end products (EIU, 2004), and the number of the middle class consumers is growing rapidly in emerging countries particularly China and India.
The urban incomes are set to rise significantly providing ample opportunities for the manufacturers to sell not only items of basic necessities but also of a discretionary nature (MGI, 2006.
2007). 5-Challenges of Global Innovation The section above has given us a broad overview over how global innovation may be used as a chance to mitigate the effects of innovation barriers prevalent in Germany and inter alia in advanced economies.
%The shortage of qualified personnel is also felt in the booming economy of China, where German firms are finding it increasingly difficult to recruit local technicians,
2006). 5. 2 Cost Explosion in Booming Economies The cost advantage of many emerging nations with booming economies is disappearing in many respects, for instance,
2004). 5. 6 Cross-cultural Issues and Communication Global innovation invariably involves multi-disciplinary teams of international backgrounds.
and of business environment conditions in the country concerned. 4 The investigation report is under preparation.
which do not require a high level of capital investments. Potential strategies, for instance, could be: o Cooperative agreements with local research institutions and/or firms o Outsourcing of parts of the innovation process o To limit the financial burden of setting up
This sensitization to mutual cultural issues may play a key-role in the success of an international venture.
In this respect the internationalization of R&d seems to be a useful instrument to mitigate the effects of barriers to innovation often faced by SMES in Germany, the EU or anywhere else in industrialized economies.
At the same time these global opportunities are associated invariably with challenges that need to be mastered in order to fully exploit the chances of global innovation.
as well as a profound analysis of business environment conditions of the target offshore country are prerequisites of a successful global operation.
Commission Recommendation of 6 may 2003 concerning the definition of micro, small and medium-sized enterprises, Annex Title I DEFINITION OF MICRO,
SMALL AND MEDIUM-SIZED ENTERPRISES ADOPTED BY THE COMMISSION, European commission (2003/361/EC). EC (2003b:
The globalisation of research and development, Economist Intelligence unit. Ernst, D. 2006: Innovation Offshoring: Asia's Emerging Role in Global Innovation Network, East-West Center Special reports, No. 10/2006.
Die Position Norddeutschlands im internationalen Innovationswettbewerb, Hamburg Institute of International Economics, Hamburg. Idw (2004: Mittelstand in Deutschland Stiefkind der Wirtschaftspolitik, Institut der deutschen Wirtschaft, Cologne:
Opportunities and Challenges In public-Private Partnership",in: Asia Pacific Tech Monitor, Vol. 24, No. 1, New delhi, pp. 32-37.
World Investment Report 2005: Transnational Corporations and the Internationalization of R&d, United nations Conference on Trade and Development, Geneva.
EUR%Investitionen in Infrastruktur (Investitionen und Kosten des Entwicklungsträgers) 503 34%167 20%670 29%Investment in Wissenschaftsinstitute (Humboldt-Universität und außeruniversitäre
Institute) 506 34%60 7%566 24%Investments WISTA MANAGEMENT GMBH 290 19%72 9%362 15%Private Investments 197
140 Mio. € Public and private investment in Adlershof (1991 2012) Sustainable Development Companies in the Science and Technology Park IT and Media 75 Biotechnology and Environment 71
Photonics and Optics 63 Microsystems and Materials 49 Services 170 10 Total: 429 (2011) 445 (2012) Turnover in 2011/2012 € 592 M€/637 M€ Subsidies in 2011/2012 € 33 M€/31 M€
12 Technology Fields 13 Photonics and Optics IT and Media Microsystems and Materials Biotechnology and Environment Photovoltaics/Energy Photonics and Optics Fields of Competence Laser technology including laser
Comprehensive project management Development of microsystems technologies and products Manufacture of prototypes Production of small scale series Functional analysis of products Consulting and training for companies Partnership
18 Biotechnology and Environment Fields of Competence Water, soil, and air analysis Analytics Biotechnology products and procedures development Pharmaceutics and Medicine Energy-saving processes 19 Centres, Real estate, Investment 20 Innovation and Business Incubation
Centre Specific incubation infrastructure Benefits for start-ups: business plan consulting; office and conference services; financial consulting for grants and loans;
agency for advancement and financing Platform for contacts and co-operations Floor space in total:
21,159 m Incubation-Rate since 1991: over 200 companies 21 International Business Incubator OWZ Berlin-Adlershof Business Incubation with the focus on East-West business More than 30 companies from 12 countries:
Belarus, Czech republic, France, Great britain, Hungary, India, Kazakhstan, Pakistan, Poland, Russia, Ukraine Established 1997 Floor space in total:
and Optics Photovoltaics Microsystems and Materials IT and Media Biotechnology and Environment Special technology infrastructure Flexible office and laboratory area High quality community and service facilities Floor space
6. 761 m (for about 25 enterprises) Investment: 8. 6 Million euro Start of Construction:
6. 500 m Special infrastructure with labs, clean room (1. 050 m), offices, pre-installed network for gases, centralcooling system, high-speed communication network Investment:
approx. 8, 000 m Investment: approx. 26 Million euro Start of Construction: October 2009 Completion:
3 months net rent (Sales tax not included) 27 Organisation 28 WISTA-MANAGEMENT GMBH 29 WISTA-MANAGEMENT GMBH State of Berlin Shareholder Supervisory Board
Technology Centres Subsidiary Advisory board Subsidiary Adlershof key actors and synergies TKA Education Basic Research Park Management and Development Research and development Products, Services Companies
/OWZ Expansion Productive Environment Growth Technology Centres Some success criteria 32 Success Criterion: Strong policy support 33 Entwicklungsplan 1994 WISTA-MANAGEMENT GMBH 35 Success Criterion:
3-ple helix structure Products and Services Small and mediumsized enterprises Education and Basic Research Natural science Institutes Research and development Non-university scientific institutes Park
Proximity (IT) WISTA-MANAGEMENT GMBH Generation/Seed Incubation Growth Expansion University IGZ/OWZ Technology Centres Productive Research Institutes Environment Companies Advisory
space for growth on-site 43 First incubator 1991 with 5 companies on 1, 000 m newspapers argued:
EUR%Infrastructure Investment 495.0 35+70 14 Investment in Res. Institutes 426.9 30+10 2 Investments WISTA 233.1 17+70 14 Private Investments 197.2 14+350 69 Investments Service provider
56.2 4+5 1 TOTAL 1, 408.5 100 505 100 Success Criterion finance model: Increasing private investment Services 45 WISTA-MANAGEMENT GMBH Services for Companies Comprehensive building infrastructure Favorable rent and additional expenses Incubation and promotion of start-ups
, Consultation for grants and loans, etc. Joint project development Participation in specialized networks Communication services Service Packages International contacts
and support Local job exchange Conference and event services Participation/organization of exhibitions and fairs 46 Services for Foreign Companies Quick start via Network services International incubation service Soft landing packages Excellent
High Tec Facilities Lab and related office space at low rents for SME Flexibility Berlin Subsidies Investment subsidies Research subsidies Personel recruitment subsidies
47 Adlershof Market Access Point 48 Service Offers Target Group Service Provider Access Office: fully equipped office in the STP premises;
grants & Cohesion Fund grants European Investment Bank (EIB) EIB loans LGTT guarantees The Europe 2020 Project Bond Initiative loans Marguerite Fund equity
financing Nordic Investment Bank (NIB) NIB loans BSAP Fund grants European Bank for Development and Reconstruction (EBRD) Loans, equity financing, guarantees, grants
Corridor investments, Smart logistics and governance, Clean shipping and Business solutions for green transport. This report is one of the Cluster's outputs and concerns the best practices in transport infrastructure financing.
and to combine the EU grants with national funding and private investments. Grants that support the cohesion policy of the Union and individual EU Member States.
For example Nordic Investment Bank has created its own financing instruments in order to fulfill its specific targets and action plans.
All applications and application processes are not successful but the preparation of an application demands time and recourses.
and Commercial banks and Investment banks such as NIB and EIB are the main lenders. Source: http://www. eib. org/epec/resources/epec-using-EU-funds-in-ppps-public. pdf EU instruments TEN-T grants EU has founded the Trans-European transport network,
TEN-T Priority Projects European Rail Traffic Management Systems (ERTMS) River Information Services (RIS) Air Traffic Management (ATM) Motorways of the Sea
Marco polo program's Motorway of the Sea grant is targeted for private-sector transport services which are willing to create door-to-door transport service using other transport modes than road traffic.
and during the period 2007-2013 total investments in the regions will be a total of 347 Billion euros
During the budget period 2007-2013 investments to transport sector will be concentrated to the Convergence regions.
PDF http://ec. europa. eu/regional policy/financial/index en. cfm European Investment Bank (EIB) EIB loans EIB's main financing instruments are medium
and EIB covers up to 50%of the investment costs, but the average loan amount is approximately one-third.
The lending conditions depend on the investment target and securities that third parties offer. Indirect lending or intermediate lending is designed for smaller projects than 25 Million euros.
For example trans-European transport and energy networks and other infrastructure, the knowledge economy, energy and SMES are 10/38 Best practices in transport infrastructure financing 1/23/2013
and guarantees ranking ahead of shareholder subordinated debt mezzanine finance, including high-yield debt for SMES experiencing high-growth
-bank-launch-new-instrument-to-finance-european-transport-network. htm http://ec. europa. eu/economy finance/financial operations/investment/europe 2020/documents/annex 2a en. pdf 11/38 Best
http://ec. europa. eu/economy finance/financial operations/investment/europe 2020/documents/com2011 660 en. pdf http://europa. eu/rapid/press-release memo-12-370 en. htm
Transport Cluster commitments in Greenfield. 30-40%of the fund's investments go to core transport sector
pageid=1 Nordic Investment Bank (NIB) NIB loans Nordic Investment bank has several loan products:
-Baltic sea Environment Financing Facility (BASE)- Climate Change, Energy efficiency and Renewable Energy Facility (CLEERE)- Environmental Lending Facility for member countries'neighboring area in Eastern europe
The BSAP-fund is managed by NIB, Nordic Investment Bank and NEFCO, the Nordic Environment Finance Corporation.
and also the European union and the European Investment Bank are participating. The EBRD cooperates with other international financial institutions such as the World bank.
Direct investments for projects range from 5 Million euros to 230 Million euros. The funding rate is up to 35%of the total project costs.
The project should also benefit the local economy and satisfy both EBRD's environmental standards and those of the host country.
The role of private funding has increased at the current economical situation and infrastructure projects need more private investments.
For example in state-owned companies and limited companies where the government is the biggest shareholder it is hard to define strictly the funding source.
and deliver public sector assets and services. The term PPP is used, thus to describe a wide variety of working arrangements from loose, informal and strategic partnerships,
European Investment Bank, The EIB's role In public-Private Partnerships PPP models are built often using project finance.
The private partner may invest its own capital and the public partner recompenses that at the end of the contract.
Capital and project development costs are funded with issue bonds or other debt. DBFOM is financed also 16/38 Best practices in transport infrastructure financing 1/23/2013 The Baltic Institute of Finland/BSRP Transport Cluster with public grants and private equity investments.
Life-cycle costing brings value for money for the private sector. DBFOMT Design-Built-Finan ce-Operate-Maintai n-Transfer DBFOMT is basically the same as DBFOM except the private sector owns the infrastructure until the end of the contract
and invests its own capital to renovate and modernize it. The private partner operates it under a contract with the public partner.
http://ec. europa. eu/economy finance/financial operations/investment/europe 2020/documents/com2011 660 en. pdf http://www. eib. org/attachments/efs/eibpapers/eibpapers 2010 v15 n02 en. pdf
and the relevance of private investments is increasing. Nevertheless national funding is the backbone for transport infrastructure financing.
and generate positive effects to the regional economy. Cities, municipalities or other similar self-governmental regions and local-level players are also giving their contribution to the infrastructure financing.
Finland In Finland the Ministry of Transport and Communications is in responsibility of the planning, construction and maintenance of traffic routes and channels.
transport and the environment; participating in reconciling traffic and land use; controlling and developing traffic management in the government's traffic lanes and in the waterways;
developing and promoting transport services and the functioning of the markets for them; improving the performance of transport infrastructure management;
The Finnish PPP model is compatible with Finnish regulatory environment and conditions. The model is called Life cycle model.
In Finland the Ministry of Traffic and Communication with Trafi and Traffic Agency, is the main actor in the field of transport.
and give an opportunity to compare and asses different kind of funding sources. Air Introduction Even though air traffic is highly polluting
Nordic Investment Bank (NIB) is financing the first phase of the project by granting a loan of 192 Million euros to the Norwegian Avinor.
and administered by the Ministry of Transport and Communications. Avinor operates 46 airports in Norway
/HISTORY AND BACKGROUND&HIDDEN ID=181-143086 Lithuania The Vilnius International airport is owned a state company and operated by the Ministry of Transport and Communications.
and this has led to various investments and expansions. The video surveillance system of the terminal was upgraded in 2005.
but the EU Cohesion Fund and the Republic of Lithuania are also participating to the investments.
and are dependent on the size of the investment. Norway has taken advantage of the Nordic Investment Bank (NIB.
Several Norwegian infrastructure projects also in the field of airports have received loans from NIB. The Baltic states Latvia, Lithuania and Estonia have received funding for airport infrastructure from Cohesion Fund
The construction of a total new airport is a massive investment and the risks are enormous,
In Berlin Brandenburg airport the investments and risks were transferred to a Special Purpose Vehicle (SPV), Berlin-Brandenburg International Partner (BBIP.
The investment consortium collected the necessary funding and carried the risks 23/38 Best practices in transport infrastructure financing 1/23/2013 The Baltic Institute of Finland/BSRP Transport Cluster caused by the delay.
and EU is supporting investments in the airports. Because of the fast growth in air travelling, the European commission is creating a legislative framework for European aviation and developing the common European airspace.
and private companies provide cargo services. Lithuania The Klaipeda State Seaport Authority manages the port of Klaipeda.
The Klaipeda State Seaport Authority is a Government enterprise and Ministry of Transport controls it.
private sector provides services and rents port infrastructure from the port authority which manages the infrastructure.
The new solutions and infrastructure projects which help to adjust to the demands of the sulphur directive require funding
and investments but nevertheless the investments have also other targets and goals, few examples of water infrastructure projects:
because the port activities are causing degradation to the environment at the current location. Currently the Free port of Riga is situated at Andrejosta and Eksportosta.
The relocation includes also the construction of all necessary access roads and railways and engineer-technical communication within the borders of the port.
and the rest of the investments would be paid by the port authority. The second phase of the project would be financed from public and private sources.
http://ec. europa. eu/competition/state aid/cases/235017/235017 1261801 149 2. pdf Sources: 26/38 Best practices in transport infrastructure financing 1/23/2013 The Baltic Institute of Finland/BSRP Transport Cluster http://www. baltic-course. com
/doc=27666 http://ec. europa. eu/competition/state aid/cases/235017/235017 1261801 149 2. pd fhttp://www. eib. org/projects/pipeline/2010/20100136
Nordic Triangel links the Scandinavian countries and their capitals and boosts connections to the rest of the Europe.
Decisions on organization, operations and investments are made at local level, because almost every port is owned by a municipality in Sweden.
while ports are producing a wide variety of different services. Building and service provisions are separated often in the harbor sector
-eu-20050-p. htm http://www. femern. com/home/economy/who-pays http://www. femern. com/home/finished-tunnel/traffic--capacity Finland
which links the capitals of Scandinavia to each others. The construction work of the Ring Rail started in 2009
The Rail Baltica tries to promote economic growth and integration in the Baltic region. The project Rail Baltica and especially pre-studies and development phase have received support from two EU funds.
and to raise the awareness of the important stakeholders: national and regional administrations and decision makers and also 31/38 Best practices in transport infrastructure financing 1/23/2013 The Baltic Institute of Finland/BSRP Transport Cluster the awareness
What comes to return on investments it is a great failure. The Channel tunnel consists of three tunnels connecting Britain to the Continental Europe.
and construction companies and in total the project had 15 shareholders, a consortium of 10 construction companies, Transmanche link (TML) and 5 banks.
The shareholders were evenly from France and England. The construction consortium made a design and build contract with Eurotunnel,
The first equity package came from the original 15 shareholders in the beginning of the project. The tunnel project and the shareholders went through critical times
when Equity package 2 was accepted, and it made the original project promoters minor shareholders. Before equity package 3 could be accepted the project needed more financing.
European Investment Bank provided the tunnel project a loan the deal was signed by a group of 50 banks
which syndicated it to over 200 banks. The management of Credit agreements had become very complicated.
In the view of the Ministry of Transport and Communications, PPP shall only be used to the extent that this form of contract involves the transfer of risk
The company's capital consists of equity which is paid by owners and debt capital. The debt capital is loans from domestic and international banks.
The European Investment Bank finances nearly half of loan demand and it granted loans from the Nordic Investment Bank, Nordea and other commercial banks.
The tripartite agreement protects the lenders interests because under certain conditions the lenders have a right to stop the PPP contract
The Norwegian PPP model emphasizes high road availability and traffic safety standard, high environmental and aesthetical standards and good road user services.
The financing consortium for the A2 motorway is composed of 11 international banks led by the European Investment Bank
European Investment Bank provided a 14-year-maturity loan for the project. Also Pohjola Pankki Plc is participating in the financing of the E18 motorway.
The European commission has created the White paper which acts as a roadmap for future's transport infrastructure investments.
and to generate revenues for future transport investments. The aim of this report was to describe different and available funding sources
which makes it an attractive investment target for private sector. One goal for this report was to represent a wide range of different PPP models
'and industry's real needs for infrastructure and at the same time increase the added value for EU. Also a minimal negative impact to the environment
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