The project concerns the promoter's investments for the development and deployment of advanced materials, manufacturing and digitalisation technologies, it will bring about positive environmental externalities and will support the further accumulation and diffusion of knowledge and workforce upskilling and training. It contributes to the Bank's "Innovation, Digital and Human Capital" policy objective, a part of it to the Bank's Economic and Social Cohesion and the Climate Action and Environmental Sustainability policy objectives. EIB financing supports the promoter's investments addressing the market failures and gaps associated with imperfect competition and those addressed by projects with positive knowledge and environmental externalities generation.
This project will help the promoter to further acquire and develop relevant skills and competences, strengthen its technology edge, enhance its product portfolio, and will uphold and further the promoter's long term sustainable competitiveness and profitability.
It will add to the social welfare and bring about social benefits, environmental externalities, contribute to further employment opportunities and existing workforce upskilling and training. The promoter's R&D and manufacturing capability and experienced management will help implement a sound and sustainable project, integrating relevant positive environmental and social dimensions, and will contribute to address and mitigate market failures, and through its additionality, the Bank's policy objectives.
In terms of the EIB contribution, the proposed operation satisfactorily meets the required funding needs of the promoter as it provides for the necessary flexibility in terms of long tenor and repayment profile, together with a sizeable financing volume. The EIB funding is expected to improve the promoter's financial profile by diversifying its funding base. The Bank's technical contribution and advice focused on aligning project scope with policy objectives at origination and on the monitoring during project implementation.