SLSP LOAN FOR SMES AND MIDCAPS

Promoter – Financial Intermediary

SLOVENSKA SPORITEL'NA AS

Location

• Slovakia

Description

Loan for financing small and medium-scale projects, promoted by small and medium-sized enterprises (SMEs) and mid-caps in Slovakia, with a partial dedication to Climate Action and Environmental Sustainability.

Additionality and Impact

The operation is a loan to Slovenska Sporitelna a.s. (SLSP) to on-lend the proceeds to Slovak SMEs and Midcaps. SLSP has in-depth experience with implementing EIB products through its network of branches in the targeted regions.

Approximately 80% of the finance unlocked by the EIB is expected to benefit cohesion areas and as such, help reduce regional disparities per the EU's cohesion policy. At least 20% of the finance is expected to be used in financing CA&ES projects.

The operation is expected to improve access to finance for SMEs and MidCaps. The blending of EIB loan at attractive pricing with Borrower's own resources will allow SLSP to offer more favourable financing conditions (longer maturities, lower and flexible rates) to final beneficiaries.

The Borrower benefited from a CA&ES targeted technical support by the EIAH (delivered at Erste Group level) to upgrade their capabilities to identify and originate CA&ES loans.

Objectives

The aim is to enhance access to finance for the target group of final beneficiaries.

Sector(s)

• Credit lines - Credit lines

Proposed EIB finance (Approximate amount)

EUR 100 million

Total cost (Approximate amount)

not applicable

Environmental aspects

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

Procurement

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

Status

Signed - 26/07/2023