Signature(s)
Summary sheet
- Credit lines - Credit lines
The linked risk-sharing operation (LRS) (own-resources; full delegation) will support Midcaps in Portugal across all sectors covered by EIB long-term mission. This is a sub-operation under the Programme Loan (PL) LRS - EU PL RISK SHARING INSTRUMENT".
The aim is to enhance access to finance to Midcaps in Portugal.
The proposed transaction consists of a fully-delegated linked risk sharing guarantee between the EIB and Banco Santander Totta ("BST"), a financially solid promoter and repeat counterpart of the EIB. The operation will enable BST to finance small and medium-sized investment projects in eligible sectors carried out by Mid-Caps enterprises operating in Portugal.
The guarantee aims to promote and accelerate private sector investments as well as facilitating access to finance for Mid-Caps, a backbone, together with SMEs, in terms of growth and employment for the Portuguese economy. The operation will help addressing the working capital, liquidity needs and investment constrains of Mid-Caps, which have been exacerbated by supply chain constraints, inflation and raising interest rates among others. The economic impacts in the economy have been widespread as value chains have been disrupted and consumer demand has slowed down due to the high inflation rates. SMEs and Mid-Caps are facing financial stress and bankruptcies and, without continuing to address their investment needs, the adverse economic effect of the pandemic could be long-lasting also considering the recent war in Ukraine and the additional challenges for SMEs and Mid-Caps in the form of increased input costs, which cannot be fully passed to end customers, thus creating pressure on margins.
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.
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