Signature(s)
Summary sheet
- Credit lines - Credit lines
Operation under the European Guarantee Fund (EGF) to support small and medium-sized enterprises (SMEs) and mid-caps in Italy through the provision of a capped guarantee for portfolios of mini-bonds.
Operation under the European Guarantee Fund (EGF) to support small and medium-sized enterprises (SMEs) and mid-caps in sectors that are in line with the EIB's long-term mission (SME and mid-cap support) affected by the COVID-19 pandemic.
The proposed operation is a full delegation unfunded capped guarantee with the Italian National Promotional Bank, Cassa Depositi e Prestiti S.p.A. ("CDP"), as Financial Intermediary and guarantee taker.
The guarantee instrument under EGF aims at improving access to finance by SMEs and MidCaps; the proposed operation while enhancing CDP's lending capacity will facilitate access to finance by the final recipients at typically beneficial terms in the form of reduced interest rates, longer maturities and/or lower collateral requirements.
Liquidity needs are urgent and have become a matter of survival for millions of entities throughout Europe, that are facing financial difficulties as a result of the current economic crisis. The need for policy support towards liquidity and credit/guarantee will persist far beyond the immediate sanitary emergency, before entities can refocus their business and resume investment. Linked risk sharing operations undertaken by the EIB group and supported by the EGF are not only compatible with the measures of the ECB, EC and national regulators, they are also uniquely coupled to the provision of new eligible financing to target beneficiaries.
The EIB will require that Cassa Depositi e Prestiti S.p.A. take all the required measures to ensure that final recipients (SMEs and mid-caps) meet the EIB's environmental standards and related EU/national legislation.
The EIB will require that Cassa Depositi e Prestiti S.p.A. take all the required measures to ensure that final recipients (SMEs and mid-caps) meet the EIB's procurement standards and related EU/national legislation.
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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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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