Release date: 26 March 2021
Promoter – Financial Intermediary
ACCEPTABLE CORPORATE(S)Location
Description
Programme loan to finance the investments of eligible mid-caps and small and medium-sized enterprises (SMEs) in different industrial sectors in Spain and Portugal.
Additionality and Impact
The projects under
this Midcap Programme Loan concern investments by innovative Midcaps and SMEs,
leading to new knowledge creation, wider innovation development and
deployment, positive social and environmental effects, growth and employment
opportunities creation. They contribute to the EIB's Innovation and SME policy
objectives, and partly to its Economic and Social Cohesion and Climate Action
and Environmental Sustainability policy objectives. EIB financing
therefore addresses market weaknesses and failures constraining the
availability of financing for SMEs and Midcaps, those associated with imperfect
competition and incomplete markets for innovative and still market-entry stage
technologies, and those associated with projects generating positive knowledge,
environmental and safety externalities. The investments will contribute to the
promoter's sustainable long term profitability, will add to the social welfare
by bringing about wider economic and social benefits and will be implemented by promoters with good track record and experienced
management, capable to deliver sound projects integrating relevant positive
environmental and social dimensions and thus contributing to address and
mitigate the identified market failures.
EIB's involvement is expected to generate positive effects, mainly in terms of availability of long-term funding, at favourable rates and allowing diversification of sources of funds and it should have positive impact on mobilising other financiers and signalling that a project is sound and worth supporting.
Objectives
This programme loan will improve competitiveness and access to finance at favourable conditions for SMEs and mid-caps.
Sector(s)
- Credit lines - Credit lines
Proposed EIB finance (Approximate amount)
EUR 300 million
Total cost (Approximate amount)
EUR 600 million
Environmental aspects
The Bank will require that projects financed under this operation comply with domestic and EU applicable legislation, as appropriate.
Procurement
The Bank will require that projects financed under this operation comply with domestic and EU applicable legislation, where applicable.
Status
Approved - 17/06/2021
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).