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Signature(s)

Amount
€ 46,000,000
Countries
Sector(s)
Italy : € 46,000,000
Credit lines : € 46,000,000
Signature date(s)
25/07/2024 : € 46,000,000

Summary sheet

Release date
29 July 2024
Status
Reference
Signed | 25/07/2024
20220966
Project name
Promoter - financial intermediary
SIMEST LOAN FOR SMES&MIDCAPS AND INNOVATION
SOCIETA ITALIANA PER LE IMPRESE ALL ESTERO SIMEST SPA
Proposed EIB finance (Approximate amount)
Total cost (Approximate amount)
EUR 46 million
not applicable
Location
Sector(s)
Description
Objectives

The project consists of a Multi Beneficiary Intermediated Loan (MBIL) to SIMEST S.p.A.

The aim is to support the growth and expansion of Italian small and medium sized enterprises (SMEs) and mid-caps across the EU. The project also includes specific climate action and innovation windows.

Additionality and Impact

The Project facilitates access to finance for Italian SMEs and Mid-Caps for their growth and expansion in Italy and in other countries inside the EU. With its dedicated windows, the Project is also expected to support green projects and investments in innovation or innovative companies. The Project addresses a number of market failures, such as failure in financial markets for provision of financing for SMEs and Mid-Caps, arising from limited access and/or high cost of financing charged by creditors as a result of information asymmetries, lack of collateral and imperfect screening and monitoring. This is particularly the case for innovative companies and those with internationalisation objectives due to higher perceived risks. In addition, it is expected to generate positive externalities through the creation of innovative processes, products or services and through skills development and upgrading; as well as reducing dependency on energy imports by contributing towards increasing security of renewable energy supply. Through an intermediated approach, the Bank will provide financing with favourable terms to final beneficiaries which could not be reached otherwise. 

Environmental aspects
Procurement

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.

Milestone
Under appraisal
Approved
Signed
22 December 2023
25 July 2024
Link to source

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).

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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.
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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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