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Signature(s)

Amount
€ 25,000,000
Countries
Sector(s)
Romania : € 25,000,000
Credit lines : € 25,000,000
Signature date(s)
23/07/2024 : € 25,000,000
Link to source
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Summary sheet

Release date
25 March 2024
Status
Reference
Signed | 23/07/2024
20230812
Project name
Promoter - financial intermediary
PATRIA BANK LOAN FOR SMES & MIDCAPS
PATRIA BANK SA
Proposed EIB finance (Approximate amount)
Total cost (Approximate amount)
EUR 50 million
not applicable
Location
Sector(s)
Description
Objectives

The operation consists of a Multi-Beneficiary Intermediated Loan (MBIL) to finance eligible investments promoted by small and medium sized enterprises (SMEs) and mid-caps in Romania.

The aim is to enhance access to finance to the target beneficiaries, with a partial dedication to climate action projects.

Additionality and Impact

Operation aims to help mitigate market failure of SMEs' and Mid-caps' insufficient access to long term funding and thereby contributing to long-term economic growth. By addressing this market gap, which is more acute in Romania compared to the EU average, operation in particular supports strengthening of EU's economic, social and territorial cohesion (66.5% of it is expected to be implemented in cohesion regions). The Small size of SMEs makes them more vulnerable to economic cycles and more constrained in opportunities for growth. Most important contributions of EIB loan will be: long term funding, diversification of external funding, and signalling effect for other financiers to provide similar long-term loans to Borrower.


The green window of the operation concerns the financing of small-scale renewable energy (mostly small-scale solar PV) projects in Romania. It contributes to supporting the Bank's priority objectives in the energy sector and the EIB's climate action and environmental sustainability objectives. The operation will contribute to energy production from low-carbon sources and reduction of energy demand in Romania, which is key to meeting the mid/long term national objectives, as outlined in the Romanian National Energy and Climate Plan (NECP). The operation is also aligned with the REPowerEU strategy. By using an intermediated approach, the Bank will be able to support smaller projects that would otherwise not be reached directly.

 

Moreover, the operation supports the FI's sustainability strategy, by facilitating its lending in the targeted sectors and diversifying its financing sources. The operation addresses a number of market failures, from contributing to the reduction in carbon and air pollution to improving the efficiency and integration of energy markets.

 

The FI is financially sound and has sufficient track record in financing these kinds of projects. The operation enhances access to finance for final beneficiaries at advantages financing conditions, and thereby aims to preserve and create jobs.


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
24 June 2024
23 July 2024
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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).

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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