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Signature(s)

Amount
€ 150,000,000
Countries
Sector(s)
Spain : € 150,000,000
Services : € 150,000,000
Signature date(s)
11/02/2021 : € 40,000,000
4/11/2019 : € 110,000,000
Link to source

Summary sheet

Release date
22 November 2019
Status
Reference
Signed | 04/11/2019
20180807
Project name
Promoter - financial intermediary
DIGITAL INNOVATION ACCELERATION
EL CORTE INGLES SA
Proposed EIB finance (Approximate amount)
Total cost (Approximate amount)
EUR 150 million
EUR 220 million
Location
Sector(s)
  • Services - Wholesale and retail trade; repair of motor vehicles and motorcycles
Description
Objectives

The project concerns El Corte Ingles' (ECI) technology innovation programme. The promoter is investing in its digital acceleration, targeting the further improvement of sales performance and the optimisation of the supply chain as well as other business processes.

The EIB loan would contribute to the EU priority objective of innovation supporting the EU policy towards an information society (e-business) and the targets of the Europe 2020 strategy as the underlying project includes a wide range of innovative subprojects across ECI's different business areas.

Environmental aspects
Procurement

The development, implementation and deployment of IT systems is not covered by the Environmental Impact Assessment (EIA) Directive 2014/52/EU amending the 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. Further details will be analysed during the due diligence.

The promoter has been assessed by the EIB as being a private company not being subject to EU rules on public procurement or concessions. However, if after the project appraisal, the EIB were to conclude that the promoter is after all subject to EU public procurement legislation Directive 2014/24/EU or 2004/18/EC where applicable, then the EIB would require the promoter to ensure that contracts for the implementation of the project will be tendered in accordance with the relevant applicable EU procurement legislation Directive 2014/24/EU or 2004/18/EC where applicable, as well as Directive 92/13/EEC or Directive 89/665/EEC as interpreted by the Court of Justice of the EU, with the publication of tender notices in the Official Journal of the EU, as and where required.

Link to source
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Disclaimer

Before financing approval by the Board of Directors, and before loan signature, projects are under appraisal and negotiation. The information and data provided on this page are therefore indicative.
They are provided for transparency purposes only and cannot be considered to represent official EIB policy (see also the Explanatory notes).

Documents

Environmental and Social Data Sheet (ESDS) - DIGITAL INNOVATION ACCELERATION
Publication Date
20 Dec 2019
Document language
Main Topic
Lending
Document Number
92201018
Document Focus
Environmental Information
Project Number
20180807
Sector(s)
Regions
Countries
Publicly available
Download now
Environmental and Social Completion Sheet (ESCS) - DIGITAL INNOVATION ACCELERATION
Publication Date
21 Dec 2022
Document language
Main Topic
Lending
Document Number
162790473
Document Focus
Environmental Information
Project Number
20180807
Sector(s)
Regions
Countries
Publicly available
Download now
scoreboard - DIGITAL INNOVATION ACCELERATION
Publication Date
26 Nov 2019
Document Language
English
Main Topic
lending
Document Number
124849038
Document Focus
EFSI legal requirements
Document Type
Scoreboard
Project Number
20180807
Last update
27 Nov 2019
Sector(s)
Services
Countries
Spain
Publicly available
Download now

General enquiries and comments

The EIB is committed to open communication and encourages constructive stakeholder input regarding its activities.
Enquiries and comments concerning the EIB’s involvement in a project or the financing facilities, activities, organisation and objectives of the EIB, can be sent to the EIB Infodesk.
Alternatively, the EIB can be contacted through its external offices.
Queries regarding details of a specific project, in particular when it is under appraisal by the EIB, should preferably be addressed directly to project promoters.

Media enquiries

Media-related enquiries can be addressed to the EIB Press Office. Please also visit our Media information section.

Complaints mechanism

Any complaint regarding alleged maladministration can be lodged via the EIB Complaints Mechanism. The European Ombudsman acts as an independent external accountability mechanism of the EIB.

Zero tolerance against fraud and corruption

The EIB has a zero tolerance policy on fraud or corruption. To report allegations of fraud and corruption relating to EIB-financed projects, please contact the Fraud and Investigation division. All complaints will be treated as strictly confidential and handled in line with the EIB investigation procedures and the Anti-Fraud Policy.

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