Release date: 1 December 2015
Promoter – Financial Intermediary
ACCEPTABLE CORPORATE(S), ACCEPTABLE BANK(S)Location
Description
The project relates to a programme loan to provide financing to a number of commercial banks in Spain for the implementation of their state-of-the art information technology (IT) developments.
Objectives
The programme aims to finance IT-related projects which could notably include the research, development and innovation and implementation of IT systems in the fields of mobile services, digitalisation, process optimisation, business model evolution, regulatory requirements, risk management and cyber-security protection.
Proposed EIB finance (Approximate amount)
EUR 120 million
Total cost (Approximate amount)
EUR 600 million
Environmental aspects
The implementation of banking IT systems is not covered by the Environmental Impact Assessment (EIA) Directive (2011/92/EU). In addition, the project activities are expected to be carried out in existing facilities that are already used for the same purposes and that are not expected to change their scope due to the project.
Procurement
The promoters of the individual projects under the programme have been assessed by the EIB as being private companies not operating in the utilities sector and not having the status of a contracting entity, thus not subject to EU rules on public procurement.
Status
Approved - 2/02/2016