Signature(s)
Summary sheet
- Credit lines - Credit lines
Operation under the European Guarantee Fund (EGF) to support Austrian mid-caps and large corporates in sectors that are in line with the EIB's long-term mission and affected by the COVID-19 pandemic. Small and medium-sized enterprises (SMEs) will be supported through the Additional Portfolio.
Support of mid-caps and large corporates in sectors that are in line with the EIB's long-term mission and affected by the COVID-19 pandemic. SMEs will be supported through the build-up of an Additional Portfolio, equivalent in volume to the guarantee amount.
The proposed operation with Erste Bank der österreichischen Sparkassen AG ("Erste Bank") under the Pan-European Guarantee Fund (EGF) will support Mid-Caps, Large Corporates and indirectly SME in response to the current Covid-crisis, addressing the identified market failure in terms of access to finance. The operation will be implemented by a trusted intermediary with a solid track record. It will support employment and economic recovery by providing an EIB guarantee covering working capital and investment loans. The resulting capital relief will in turn translate into additional lending to SMEs. The EIB's contribution will also consist in introducing a new product in the target market, which is expected to crowd in additional financing by mobilising other financiers and by sending a positive signal to other market participants.
Final beneficiaries will be requested to comply with applicable national and EU legislation, as appropriate.
Final beneficiaries will be requested to comply with applicable national and EU legislation, as appropriate.
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.
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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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