FINLOMBARDA LOAN FOR SMES & MID-CAPS

Promoter – Financial Intermediary

FINLOMBARDA - FINANZIARIA PER LO SVILUPPO DELLA LOMBARDIA SPA

Location

• Italy

Description

Loan to Finlombarda, the regional financial intermediary, owned by Regione Lombardia, to support small and medium-sized enterprise (SMEs) and mid-caps located in the Lombardy region.

Additionality and Impact

 The operation will be structured as an MBIL dedicated to SMEs and Midcaps. The operation expects to yield a 20% Climate Action and Environmental Sustainability contribution.

The proposed operation will contribute to the EIB Climate Strategy by boosting investments aimed at tackling Climate Change and by increasing Climate Change awareness in Italy, which in turn should crowd in other potential investors.

 Investments in the environmental sustainability sector are expected to generate positive externalities by generating environmental benefits and increase public goods for society and increased resilience to climate change, which are not effectively reflected in market prices.

Overall, the project is expected to yield good quality and results, due to increasing the access to finance to SMEs and the wider benefits to society the project promotes.

Through this operation additional resources will be channelled to finance eligible investments promoted by SMEs and Midcaps: the additional lending capacity provided through the EIB's intervention will generate positive effects on investments from the availability of long term financing and of overall lower financing costs.

Objectives

The operation will assist Finlombarda in supporting the recovery of regional SMEs and mid-caps from the economic downturn caused by Covid-19.

Sector(s)

• Credit lines - Credit lines

Proposed EIB finance (Approximate amount)

EUR 250 million

Total cost (Approximate amount)

not applicable

Environmental aspects

In accordance with the Bank's policy to ensure that sub-loans comply with the EU acquis, in particular in the fields of environment, social and public procurement, the Bank will require such intermediary institution to take all the requisite measures to ensure that the environment, social 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. This operation will have a component of 20% dedicated to Climate Action & Environmental Sustainability.

Procurement

Final beneficiaries will be requested to comply with applicable national and EU legislation, as appropriate.

Status

Signed - 19/12/2024