ERSTE EGF ENHANCED SUPPORT FOR MIDCAPS

Promoteur – Intermédiaire Financier

ERSTE BANK DER OESTERREICHISCHEN SPARKASSEN AG

Lieu

• Autriche

Description

Operation under the European Guarantee Fund (EGF) to support Austrian mid-caps and large corporates in sectors that are in line with the EIB's long-term mission and affected by the COVID-19 pandemic. Small and medium-sized enterprises (SMEs) will be supported through the Additional Portfolio.

Additionality and Impact

The proposed operation with Erste Bank der österreichischen Sparkassen AG ("Erste Bank") under the Pan-European Guarantee Fund (EGF) will support Mid-Caps, Large Corporates and indirectly SME in response to the current Covid-crisis, addressing the identified market failure in terms of access to finance. The operation will be implemented by a trusted intermediary with a solid track record. It will support employment and economic recovery by providing an EIB guarantee covering working capital and investment loans. The resulting capital relief will in turn translate into additional lending to SMEs. The EIB's contribution will also consist in introducing a new product in the target market, which is expected to crowd in additional financing by mobilising other financiers and by sending a positive signal to other market participants.

Objectifs

Support of mid-caps and large corporates in sectors that are in line with the EIB's long-term mission and affected by the COVID-19 pandemic. SMEs will be supported through the build-up of an Additional Portfolio, equivalent in volume to the guarantee amount.

Secteur(s)

• Lignes de crédit - Lignes de crédit

Montant BEI envisagé (montant approximatif)

EUR 200 million

Coût total (montant approximatif)

EUR 652 million

Aspects environnementaux

Final beneficiaries will be requested to comply with applicable national and EU legislation, as appropriate.

Passation des marchés

Final beneficiaries will be requested to comply with applicable national and EU legislation, as appropriate.

Statut

Signé - 22/12/2021