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MATRIX PACK (EGF VD)

Signature(s)

Amount
€ 8,500,000
Countries
Sector(s)
Greece : € 8,500,000
Industry : € 8,500,000
Signature date(s)
9/12/2021 : € 8,500,000
Link to source

Summary sheet

Release date
28 September 2021
Status
Reference
Signed | 09/12/2021
20200461
Project name
Promoter - financial intermediary
MATRIX PACK (EGF VD)
MATRIX PACK SA
Proposed EIB finance (Approximate amount)
Total cost (Approximate amount)
EUR 8 million
EUR 18 million
Location
Sector(s)
Description
Objectives

The project will consist of financing (i) new machines for the production of paper straws to replace plastic, non-renewable ones, (ii) ancillary equipment and (iii) related research, development and innovation (RDI) activities.

The objectives of the EIB financing are to support the company in mitigating the impact of the COVID-19 pandemic and to execute its growth investments mainly in research and development (R&D) and commercial expansion.

Additionality and Impact

This project eases financial constraints for SMEs and/ or midcaps that arise from information asymmetries caused by the lack of track record for such companies and high screening costs for small investments, especially in the rural areas and the bioeconomy sectors. By supporting such companies, EIB sends a positive signal to private investors and thus incentivizes further financing in the wider bioeconomy.
This project addresses the failure in financial markets for SMEs and/ or midcaps arising from limited access and/or high cost of financing charged by creditors/ investors as a result of information asymmetries, lack of collateral and imperfect screening and monitoring.
The project generates positive externalities in the form of environmental and public health benefits through reduction of the negative externalities of using fossil fuel based raw materials (i.e. plastics), replaced by the new enhanced renewable materials (i.e. paper).

Environmental aspects
Procurement

The project activities do not fall under the Annexes I or II of the EU Directive2014/52/EU amending the EIA Directive 2011/92/EU. The project will be carried out in existing facilities, already authorised, that will not change their scope due to the project. As such, the project activities are not subject to a mandatory environmental impact assessment (EIA).

The Promoter is a private company not operating in the utilities sector and not having the status of a contracting entity, and is thus not subject to EU rules on public procurement. Under these conditions, the procurement procedures followed by the Promoter are suitable for the project.

Link to source
Summary sheet

Disclaimer

Before financing approval by the Board of Directors, and before loan signature, projects are under appraisal and negotiation. The information and data provided on this page are therefore indicative.
They are provided for transparency purposes only and cannot be considered to represent official EIB policy (see also the Explanatory notes).

Documents

Environmental and Social Data Sheet (ESDS) - MATRIX PACK (EGF VD)
Publication Date
10 Nov 2021
Document language
Main Topic
Lending
Document Number
130965632
Document Focus
Environmental Information
Project Number
20200461
Sector(s)
Regions
Countries
Publicly available
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The EIB has a zero tolerance policy on fraud or corruption. To report allegations of fraud and corruption relating to EIB-financed projects, please contact the Fraud and Investigation division. All complaints will be treated as strictly confidential and handled in line with the EIB investigation procedures and the Anti-Fraud Policy.

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