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    Reference: 20200135
    Release date: 12 May 2020

    Promoter – Financial Intermediary

    BANCA MARCH SA

    Location

    Description

    The project consists of an unfunded guarantee under a partial delegation approach by which the EIB will cover up to 50% of the losses in respect of each defaulted loan of a non-granular and pre-selected portfolio of corporate and Midcap loans. This transaction will contribute to create additional lending capacity for SMEs and midcaps affected by the COVID-19 epidemic, mainly in Spain but also in other EU countries.

    Objectives

    The operation will promote medium and long-term lending for capital investments and would contribute to strengthen the productivity and competitiveness of SMEs and midcaps. Some of the projects will foster investments in, among other sectors, knowledge economy, renewable energy and energy efficiency, protection of the environment and natural resource efficiency. The guarantee will also help ease the economic and social impact of the coronavirus outbreak, by offering support to Spanish SMEs and Midcaps under strain from the coronavirus pandemic and its economic effects.

    Sector(s)

    Proposed EIB finance (Approximate amount)

    EUR 140 million

    Total cost (Approximate amount)

    EUR 280 million

    Environmental aspects

    The EIB will require Banca March to take all the requisite measures to ensure that the environment and procurement procedures carried out by the final beneficiaries for the financed sub-projects will comply with the relevant EU legislation and the applicable national legislation, provided that this latter is in line with EU rules.

    Procurement

    In accordance with the Bank's policy to ensure that sub-loans comply with the EU acquis, in particular in the fields of environment and public procurement, the Bank will require the Intermediary to take all the requisite measures to ensure that the environment and procurement procedures carried out by the final beneficiaries for the sub-projects that the Bank finances will comply with the relevant EU legislation and the applicable national legislation, provided that it is in conformity with EU rules.

    Status

    Signed - 22/12/2020

    Disclaimer

    Before financing approval by the Board of Directors, and before loan signature, projects are under appraisal and negotiation. The data provided on this page is therefore indicative and cannot be considered to represent official EIB policy (see also the Explanatory notes).

    Related tags

    Spain Credit lines