Release date: 23 July 2021
Promoter – Financial Intermediary
BANCA IFIS SPALocation
Description
The project consists of the intermediate financing of about 2,400 of Zero-Emission Battery Electric Vehicles (BEVs) in the 2021-2022 period.
Additionality and Impact
The EUR 50.0m operation is aimed at supporting Climate Action projects (100% contribution to CA) promoted by SMEs in Italy mostly linked to the acquisition of Zero Emission Battery Electric Vehicles (BEVs). Over the last years, IFIS developed partnership with the main BEV producers and is expected to further expand this business line thanks to the EIB's funding support. The financing of this project contributes to EIB's lending priority objectives on Climate Action and Environmental Sustainability as well as on climate action (transversal) and economic and cohesion (transversal).
The promoter's investments address the market gaps associated with (i) the still imperfect competition and incomplete markets for very innovative and still market-entry stage vehicle electrification, automation and connectivity technologies, (ii) projects promoting positive environmental, safety and knowledge externalities.
Overall, the project is expected to generate good quality and results, improving the access to finance to SMEs and to the wider society.
The proposed operation will contribute to the EIB Climate Strategy by boosting investments aimed at tackling Climate Change and by increasing Climate Change awareness in Italy.
Objectives
The operation is aimed at supporting climate action projects (100%) promoted by small and medium-sized enterprises (SMEs) in Italy linked to the acquisition of electric vehicles.
Sector(s)
- Credit lines - Credit lines
Proposed EIB finance (Approximate amount)
EUR 50 million
Total cost (Approximate amount)
not applicable
Environmental aspects
Final beneficiaries will be requested to comply with applicable national and EU legislation, as appropriate.
Procurement
Final beneficiaries will be requested to comply with applicable national and EU legislation, as appropriate.
Status
Signed - 9/12/2021
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).