Release date: 29 July 2024
Promoter – Financial Intermediary
SOCIETA ITALIANA PER LE IMPRESE ALL ESTERO SIMEST SPALocation
Description
The project consists of a Multi Beneficiary Intermediated Loan (MBIL) to SIMEST S.p.A.
Additionality and Impact
The Project facilitates access to finance for Italian SMEs and Mid-Caps for their growth and expansion in Italy and in other countries inside the EU. With its dedicated windows, the Project is also expected to support green projects and investments in innovation or innovative companies. The Project addresses a number of market failures, such as failure in financial markets for provision of financing for SMEs and Mid-Caps, arising from limited access and/or high cost of financing charged by creditors as a result of information asymmetries, lack of collateral and imperfect screening and monitoring. This is particularly the case for innovative companies and those with internationalisation objectives due to higher perceived risks. In addition, it is expected to generate positive externalities through the creation of innovative processes, products or services and through skills development and upgrading; as well as reducing dependency on energy imports by contributing towards increasing security of renewable energy supply. Through an intermediated approach, the Bank will provide financing with favourable terms to final beneficiaries which could not be reached otherwise.
Objectives
The aim is to support the growth and expansion of Italian small and medium sized enterprises (SMEs) and mid-caps across the EU. The project also includes specific climate action and innovation windows.
Sector(s)
- Credit lines - Credit lines
Proposed EIB finance (Approximate amount)
EUR 46 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 - 25/07/2024
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).