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The pan European facility will support projects carried out by small and medium sized enterprises (SMEs) and Midcaps in several EU countries, with partial dedication to Climate Action and Environmental Sustainability.
The aim is to enable the intermediary to fund investment projects in the agricultural sector carried out SMEs across EU and enhance access to financing for SMEs, fostering economic growth, innovation, and job creation. Up to 30% of the scheme will be dedicated to supporting SMEs in implementing green investments to enhance their environmental performance.
The transaction is an intermediated loan with BNP PARIBAS LEASING SOLUTIONS ("BNP LS"). It will support small and medium-sized agricultural investment projects by SMEs and Midcaps across several European countries.
The operation thus falls under the EIB's vertical Public Policy Goal (PPG) of "SME and Midcap financing" and horizontal PPG "Climate Action and Environmental Sustainability" with at least 30% of the volume dedicated to green sub-projects.
The operation will address market failures related to the availability of financing for SMEs operating in the agriculture/bioeconomy sectors in Europe as well as environmental externalities.
The borrower, a leading European equipment leasing company, is expected to support increased adoption of resource-efficient, sustainable farming equipment thus contributing to cost savings for beneficiaries and sustainable growth in bioeconomy sectors. The project meets EIB environmental and social standards, with the borrower rated compliant plus under Standard 11. The EIB's involvement will make available additional funding and reduce overall financing costs, channelling additional resources to eligible SME and Midcap investments.
The proposed operation falls within the scope of the EIB's Environmental and Social Standards - "Standard 11 Intermediated Finance". The Borrower / Financial Intermediary has adequate capacity, systems and processes in place for identifying, assessing, managing and monitoring environmental, climate and social (ECS) risks related to the potential sub-projects benefitting from EIB support. The Final beneficiaries will be required to comply with applicable national and EU legislation in respect of environmental and social matters, as appropriate.
Final beneficiaries will be requested to comply with applicable national and EU legislation, as appropriate.