Release date: 3 October 2024
Promoter – Financial Intermediary
LUZARO ESTABLECIMIENTO FINANCIERO DE CREDITO SALocation
Description
The operation consists in a loan to support the intermediary in financing small and medium-sized enterprises and mid-caps in Spain, mainly located in the Basque Country.
Additionality and Impact
The operation will help address the working capital, liquidity needs, and investment constrains of SMEs and Midcaps in Spain during a period of economic uncertainty. The challenges faced include elevated interest rates, core inflation, subdued domestic consumption, energy security issues and the ongoing war in Ukraine.
The economic impacts are widespread, as value-chains have been disrupted and consumer demand has slowed down. SMEs and Midcaps are facing financial stress and bankruptcies and without addressing their short-term liquidity and investment needs, the adverse economic effects could be long-lasting. The proposed operation is thus eligible under paragraph (c) of Article 309 (common interest) of the EU Treaty.
Objectives
The aim is to finance small/medium projects carried out by the target 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 - 21/02/2025