Signature(s)
Summary sheet
- Credit lines - Credit lines
The project consists of an unfunded guarantee under a partial delegation approach by which the EIB will cover up to 50% of the losses in respect of each defaulted loan of a non-granular and pre-selected portfolio of corporate and Midcap loans. This transaction will contribute to create additional lending capacity for SMEs and midcaps affected by the COVID-19 epidemic, mainly in Spain but also in other EU countries.
The operation will promote medium and long-term lending for capital investments and would contribute to strengthen the productivity and competitiveness of SMEs and midcaps. Some of the projects will foster investments in, among other sectors, knowledge economy, renewable energy and energy efficiency, protection of the environment and natural resource efficiency. The guarantee will also help ease the economic and social impact of the coronavirus outbreak, by offering support to Spanish SMEs and Midcaps under strain from the coronavirus pandemic and its economic effects.
The EIB will require Banca March to take all the requisite measures to ensure that the environment and procurement procedures carried out by the final beneficiaries for the financed sub-projects will comply with the relevant EU legislation and the applicable national legislation, provided that this latter is in line with EU rules.
In accordance with the Bank's policy to ensure that sub-loans comply with the EU acquis, in particular in the fields of environment and public procurement, the Bank will require the Intermediary to take all the requisite measures to ensure that the environment and procurement procedures carried out by the final beneficiaries for the sub-projects that the Bank finances will comply with the relevant EU legislation and the applicable national legislation, provided that it is in conformity with EU rules.
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).
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.
Related publications