Release date: 20 May 2015
Promoter – Financial Intermediary
BANCO BILBAO VIZCAYA ARGENTARIA SA, ACCEPTABLE BANK(S), REINO DE ESPANA, BANCO BILBAO VIZCAYA ARGENTARIA SALocation
Description
Loan to the Kingdom of Spain with the purpose of improving SME access to finance by reducing Sub Sovereign Public Authorities’ (SSPA) commercial liabilities with SMEs. The loan will be split in two parts – the first to support the Kingdom of Spain's funds defined within the Royal-Decree-law 17/2014, and the second to reverse factoring platforms of acceptable banks.
Objectives
The proposed loan will support the mechanisms established by the Spanish State and financial products from acceptable banks targeting the reduction of suppliers’ payment delays of SSPA, which will improve the access to financing to SME and midcaps.
Sector(s)
Proposed EIB finance (Approximate amount)
EUR 1000 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 - 30/07/2015