MCC SUSTAINABLE LOAN FOR COHESION SMES & MIDCAPS

Promoteur – Intermédiaire Financier

BANCA POPOLARE DI BARI SPA,MEDIOCREDITO CENTRALE - BANCA DEL MEZZOGIORNO SPA

Lieu

• Italie

Description

The operation consists of a loan to Medio Credito Centrale Banca del Mezzogiorno Group (MCC - BdM) to support investments and working capital needs of Italian small and medium sized enterprises (SMEs) and mid-caps towards their sustainable transition. In particular, 70% of the total funding will be made available to those located in the Southern Regions, while 30% will be dedicated to climate action and environmental sustainability projects.

Additionality and Impact

The operation will support Italian SME and MidCaps in their post-Covid recovery efforts and in their sustainable transition. The facility addresses an important market failure that is SMEs' access to finance, which is driven by asymmetric information, and which, despite improvement in recent years, still lags behind. This has become even more important in the context of the economic downturn caused by the War in Ukraine.

Most of the final beneficiaries are located in the southern regions of Italy, which historically lacked behind the national average in terms of economic performances.

The proposed loan is fully consistent with the EU objectives and responds to the definition of SME financing as a strategic priority objective of the Bank. The operation will also support the EU's and the Bank's priority objectives in the energy sector and the EIB's climate action objectives: the development of renewable energy projects, the implementation of energy efficiency projects and potentially other sustainable agriculture and circular economy investments promoted by SMEs and midcaps in several industries.

The Climate action element of the operation reduces negative carbon and air pollution externalities market failures and increases comfort and air quality in the dwellings, social and public benefits that are not fully internalised by private investors. Overall, the projects are expected to yield good quality and results, thanks to avoided carbon emissions and employment creation. Moreover, the projects will be supported by adequate governance and capabilities of the FI.

Objectifs

The aim is to finance eligible sub-projects carried out by the target beneficiaries for their energy efficiency improvement and CO2 emissions reduction. Moreover, the project also contributes to social and economic policy targets, considering that the final beneficiaries will be located in the EU Cohesion regions.

Secteur(s)

• Lignes de crédit - Lignes de crédit

Montant BEI envisagé (montant approximatif)

EUR 100 million

Coût total (montant approximatif)

not applicable

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 - 28/12/2022