Release date: 28 February 2023
Promoter – Financial Intermediary
CESKA SPORITELNA ASLocation
Description
The loan will finance projects promoted by small and medium sized enterprises (SMEs) and Midcaps in the Czech Republic. A part of the total financing will focus on Climate Action and Environmental Sustainability.
Additionality and Impact
The operation predominantly addresses access to finance constraints, primarily due to asymmetric information and high screening costs for small investments in mostly cohesion areas (80%) of Czech Republic. The goal of the operation is also to increase the intermediary's capacity to identify and monitor Climate Action allocations, which are currently expected to reach a minimum of 20%.
Furthermore, the finance unlocked by the EIB benefits cohesion areas (80%, split half-half in between Less Developed regions and Transition regions) and thus helps reduce regional disparities as per the EU's cohesion policy.
Implementation is handled by an intermediary that has in-depth experience with implementing EIB products through a network of branches in the targeted regions. The contribution to climate action of 20% is significant and aligned with the EIB's Climate Action Strategy. The operation likewise sustains employment in the targeted areas.
The EIB contribution to the success of the intermediary rests on longer maturity, technical assistance focused on Climate Action allocations and signalling effect that may help crowd in additional financing.
Objectives
The aim is to enhance access to finance for SMEs and Midcaps. Public sector entities can also be eligible as final beneficiaries.
Sector(s)
- Credit lines - Credit lines
Proposed EIB finance (Approximate amount)
EUR 300 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 - 12/07/2023
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).