Release date: 4 November 2009
Promoter – Financial Intermediary
The intermediary bank(s) will be selected by the Promoter, Regione Abruzzo, through an open tender or other procedure allowing to identify the bank(s) offering the best lending terms and conditions to beneficiary SMEs.Location
Description
Intermediated financing facility dedicated to supporting SMEs in Regione Abruzzo and restoring regional competitiveness following the severe physical and economic damage suffered by local SMEs following the earthquakes of April 2009.
Objectives
Regione Abruzzo (more specifically the area of the regional capital, L’Aquila) was hit by a series of earthquakes causing serious, widespread damage to urban centres, public infrastructure, artistic heritage and industrial plants. Several sectors of the regional economy (notably tourism), also in areas not directly hit by the earthquakes, have been affected.
The proposed operation is a first response to participate in the financing of the longer-term recovery of the Region, intended as both physical reconstruction of public buildings and infrastructure destroyed or damaged by the natural disaster as well as support to economic activity of the largely predominant SME sector. It could be integrated in the short-term by other interventions targeting reconstruction, consolidation and development of regional infrastructure, as well as facilities defined under the Jeremie and Jessica initiatives.
Sector(s)
Proposed EIB finance (Approximate amount)
Up to EUR 100 million
Total cost (Approximate amount)
Not applicable.
Environmental aspects
In accordance with the Bank's policy, the intermediary bank(s) shall stipulate with beneficiary SMEs that sub-projects undertaken by the latter with the proceeds of EIB funds should comply with the relevant applicable EU and national legislation.
Procurement
Beneficiary SMEs will be requested to comply with the relevant, applicable national and EU legislation, as appropriate.
Status
Signed - 3/11/2010