Release date: 4 June 2024
Promoter – Financial Intermediary
CAIXA GERAL DE DEPOSITOS SALocation
Description
Through the intermediary, the linked risk-sharing operation (own-resources; full delegation) will support Midcaps and Public Sector Entities primarily based in Portugal.
Additionality and Impact
The proposed transaction consists of a fully-delegated linked risk sharing guarantee between the EIB and Caixa Geral de Depositos ("CGD"), a financially solid promoter and repeat counterpart of the EIB. The operation will enable CGD to finance small and medium-sized investment projects in eligible sectors carried out by Mid-Caps enterprises, as well as Public Sector Entities ("PSEs"), operating in Portugal.
The guarantee aims to promote and accelerate private sector investments as well as facilitating access to finance for Mid-Caps, a backbone, together with SMEs, in terms of growth and employment for the Portuguese economy. The operation will help addressing the working capital, liquidity needs and investment constrains of Mid-Caps.
Objectives
The aim is to enhance access to finance to the target beneficiaries and ensure they continue to have the much needed liquidity to operate. The transaction fills a market gap by meeting the financial constraints of mid-caps facing economic uncertainty exacerbated by inflation, supply chain disruptions, energy security and lasting effects of the pandemic. The operation contributes to the EIB transversal Cohesion objective, estimating 64% of the Midcaps and Public Sector Entities beneficiaries to be in cohesion priority regions.
Sector(s)
- Credit lines - Credit lines
Proposed EIB finance (Approximate amount)
EUR 150 million
Total cost (Approximate amount)
EUR 420 million
Environmental aspects
The EIB requires that projects financed under this operation comply with EU applicable legislation, as appropriate and where applicable.
Procurement
The EIB requires that projects financed under this operation comply with EU applicable legislation, as appropriate and where applicable.
Status
Signed - 30/07/2024
Disclaimer
Before financing approval by the Board of Directors, and before loan signature, projects are under appraisal and negotiation. The information and data provided on this page are therefore indicative.
They are provided for transparency purposes only and cannot be considered to represent official EIB policy (see also the Explanatory notes).