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  • 20% of the total ceiling will be dedicated to investments designed to promote green energy production, reduce CO2 emissions and improve energy efficiency.
  • The resources will come from the Minerva 3 operation that the bank is implementing with the EIB Group.

The new operation being undertaken by BNL BNP Paribas and the EIB Group, which comprises the European Investment Bank (EIB) and the European Investment Fund (EIF), focuses on the real economy and is aimed at small and medium-sized businesses (with fewer than 250 employees), and mid-caps (companies with fewer than 3 000 employees). The Minerva 3 operation is technically a synthetic securitisation (with no asset assignment) on a portfolio of the bank’s performing loans.

Specifically, the European Investment Fund (EIF) has provided security for a tranche of €86.8 million, with an EIB counter-guarantee, which will enable BNL to provide new low-interest loans up to a ceiling of €434 million. This funding will help to support Italian businesses as they seek to relaunch investment and meet post-pandemic working capital requirements against an uncertain macroeconomic backdrop, between high inflation and rising interest rates.

A green target is being added to the two previous synthetic securitisation operations finalised with BNL BNP Paribas since 2018: the bank has committed to dedicate at least 20% of the total ceiling to investments by Italian small businesses designed to promote green energy production, reduce CO2 emissions and improve energy efficiency.

The partnership between the EIB and BNL BNP Paribas includes a number of securitisation guarantee operations, resulting from the close and productive business relationship between the two institutions. Some €490 million in mezzanine guarantees provided to date from four BNL BNP Paribas securitisation operations will unlock around €2.4 billion in new loans to businesses.

“Thanks to the excellent relationship between the EIB Group and the BNP Paribas Group, Italian small businesses will benefit from additional resources to invest in a green and sustainable future. At least 20% of the funds made available through this operation aim to promote energy efficiency and increase the production of renewable energy", said EIB Vice-President and EIF President Gelsomina Vigliotti.

“Supporting the real economy and helping companies grow with a view to sustainability is at the heart of the strategy of BNL and the BNP Paribas Group. This new operation with the EIB and the EIF is a concrete example of how these objectives can and should be pursued systemically, working towards common, positive and lasting development”, said CEO of BNL and Head of the BNP Paribas Group in Italy Elena Goitini.   

Background information:

The European Investment Fund (EIF) is part of the European Investment Bank Group. Its central mission is to support Europe's micro, small and medium-sized businesses by helping them to access finance. The EIF is also active in supporting climate fund investments and infrastructure with a strong focus on environmental sustainability. In this role, the EIF fosters EU objectives in support of innovation, research and development, entrepreneurship, growth and employment.

BNL BNP Paribas has been in business for over 100 years, is one of Italy’s main banking groups and is among the best known brands in Italy, operating nationwide. BNL offers a wide range of solutions, products and services, from the most traditional to the most innovative, to meet the varied needs of its customers (individuals and families, businesses, authorities and institutions). Since 2006, BNL has been part of the BNP Paribas Group, which is present in 65 countries, employing around 190 000 people, including 148 000 in Europe, where it has four domestic markets: Belgium, France, Italy and Luxembourg. BNP Paribas holds key positions in its major business sectors: Domestic Markets, International Financial Services and Corporate & Institutional Banking. Like the BNP Paribas Group as a whole, BNL is particularly committed to economic, social and environmental sustainability; a #PositiveBanking strategy that embodies the bank's determination to use its business to have a positive impact on customers, staff and the community as a whole, helping to build a more sustainable future.