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Signature(s)

Amount
€ 700,000,000
Countries
Sector(s)
Germany : € 700,000,000
Industry : € 700,000,000
Signature date(s)
11/01/2023 : € 350,000,000
1/12/2022 : € 350,000,000
Link to source

Summary sheet

Release date
12 December 2022
Status
Reference
Signed | 01/12/2022
20220317
Project name
Promoter - financial intermediary
BASF INNOVATIVE CHEMICALS RDI
BASF SE
Proposed EIB finance (Approximate amount)
Total cost (Approximate amount)
EUR 700 million
EUR 1532 million
Location
Sector(s)
Description
Objectives

The project concerns the promoter's research, development and innovation (RDI) investments over a 2-year period (2022-2023). Such investments focus on five segments: Chemicals, Materials, Industrial Solutions, Surface Technologies, Nutrition & Care, as well as central Corporate Research.

The EIB will finance the promoter's RDI programme to accelerate the deployment of higher-value added chemicals as well as the development of new products and processes with a positive impacts on climate action and environmental sustainability.

Additionality and Impact

The proposed operation supports the Bank's Research, Innovation and Digital objective.

It aims at financing investments in RDI activities to develop new technologies, products, and processes for the chemical industry. The project is expected to improve the resource efficiency, performance, and the overall sustainability of chemical products through the development of solutions and services that improve energy, emission and water efficiency, safety, and circular business models; as such, a part of the project is expected to contribute to the Bank's Climate Action & Environmental Sustainability objectives.


The project, which has a substantial portion of early-stage research, will generate positive knowledge externalities through cooperation with suppliers, customers, scientific institutes, and universities. Moreover, the project will also help maintaining and creating highly skilled jobs in the promoter's research facilities mainly in Germany.


The promoter's investments address the market failures and gaps associated with (i) imperfect competition and incomplete markets for innovative sustainable technologies, and those addressed by (ii) projects with positive knowledge, environmental and safety externalities generation.


The Bank's contribution to the project is underpinned by a combination of advantageous terms, a meaningful loan amount as well as a signalling effect in terms of confidence in the business model, thereby facilitating the project's financing and full implementation.

Environmental aspects
Procurement

The concerned RDI activities will be carried out in existing facilities without changing their previously authorised scope. Since such activities are not specifically mentioned under the Environmental Impact Assessment (EIA) Directive, the project will not require an EIA under the directive 2014/52/EU amending directive 2011/92/EU.

The promoter is a private company not operating in the utilities sector and not having a status of a contracting entity. EU Directives on procurement are therefore not applicable.

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) - BASF INNOVATIVE CHEMICALS RDI
Publication Date
8 Nov 2022
Document language
Main Topic
Lending
Document Number
158944391
Document Focus
Environmental Information
Project Number
20220317
Sector(s)
Regions
Countries
Publicly available
Download now
Environmental and Social Completion Sheet (ESCS) - BASF INNOVATIVE CHEMICALS RDI
Publication Date
30 Dec 2024
Document language
Main Topic
Lending
Document Number
238645448
Document Focus
Environmental Information
Project Number
20220317
Sector(s)
Regions
Countries
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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