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The project concerns a loan dedicated to small and medium size investments carried out mainly in the region of Burgenland, Austria, by small and medium sized enterprises (SMEs) and mid-caps.
The aim is to enhance access to finance for SMEs and mid-caps.
The project contributes to the Bank's lending priority objectives on SMEs, as well as on climate action and cohesion. Through an intermediated approach, the Bank will reach SMEs and MidCaps financing small and mid-size projects, which could otherwise not be reached. In addition, the operation supports the financial intermediary's sustainability strategy, increasing its lending in the sector and diversifying its funding sources. The project addresses a number of market failures: From the continuously existing and further widening financing gap stemming from higher interest rates for SMEs to the gap in long tenor financing for Climate Action projects. EIB is providing adequate financing sources in terms of pricing and longer maturities, whilst contributing to the diversification of the funding base. The EIB's contribution will be most visible on the financial contribution side by accelerating the fundraising and crowding in other financiers.
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.