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Signature(s)

Amount
€ 150,000,000
Countries
Sector(s)
Portugal : € 150,000,000
Credit lines : € 150,000,000
Signature date(s)
30/07/2024 : € 150,000,000
Link to source

Summary sheet

Release date
4 June 2024
Status
Reference
Signed | 30/07/2024
20230909
Project name
Promoter - financial intermediary
CGD LRS ENHANCED SUPPORT FOR MIDCAPS
CAIXA GERAL DE DEPOSITOS SA
Proposed EIB finance (Approximate amount)
Total cost (Approximate amount)
EUR 150 million
EUR 420 million
Location
Sector(s)
Description
Objectives

Through the intermediary, the linked risk-sharing operation (own-resources; full delegation) will support Midcaps and Public Sector Entities primarily based in Portugal.

The aim is to enhance access to finance to the target beneficiaries and ensure they continue to have the much needed liquidity to operate. The transaction fills a market gap by meeting the financial constraints of mid-caps facing economic uncertainty exacerbated by inflation, supply chain disruptions, energy security and lasting effects of the pandemic. The operation contributes to the EIB transversal Cohesion objective, estimating 64% of the Midcaps and Public Sector Entities beneficiaries to be in cohesion priority regions.

Additionality and Impact

The proposed transaction consists of a fully-delegated linked risk sharing guarantee between the EIB and Caixa Geral de Depositos ("CGD"), a financially solid promoter and repeat counterpart of the EIB. The operation will enable CGD to finance small and medium-sized investment projects in eligible sectors carried out by Mid-Caps enterprises, as well as Public Sector Entities ("PSEs"), 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.

Environmental aspects
Procurement

The EIB requires that projects financed under this operation comply with EU applicable legislation, as appropriate and where applicable.

The EIB requires that projects financed under this operation comply with EU applicable legislation, as appropriate and where applicable.

Milestone
Under appraisal
Approved
Signed
23 July 2024
30 July 2024
Related projects
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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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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