Signature(s)
Summary sheet
- Credit lines - Credit lines
The operation consists in a loan to support the intermediary in financing small and medium-sized enterprises and mid-caps in Spain, mainly located in the Basque Country.
The aim is to finance small/medium projects carried out by the target beneficiaries.
The operation will help address the working capital, liquidity needs, and investment constrains of SMEs and Midcaps in Spain during a period of economic uncertainty. The challenges faced include elevated interest rates, core inflation, subdued domestic consumption, energy security issues and the ongoing war in Ukraine.
The economic impacts are widespread, as value-chains have been disrupted and consumer demand has slowed down. SMEs and Midcaps are facing financial stress and bankruptcies and without addressing their short-term liquidity and investment needs, the adverse economic effects could be long-lasting. The proposed operation is thus eligible under paragraph (c) of Article 309 (common interest) of the EU Treaty.
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.